Technology

Hello Group Inc. Announces Unaudited Financial Results for the Second Quarter of 2024

Published

2 years ago

September 3, 2024

BEIJING, Sept. 3, 2024 /PRNewswire/ — Hello Group Inc. (NASDAQ: MOMO) (“Hello Group” or the “Company”), a leading player in mainland China’s online social networking space, today announced its unaudited financial results for the second quarter of 2024.

Second Quarter of 2024 Highlights

Net revenues decreased by 14.2% year over year to RMB2,691.4 million (US$370.3 million*) in the second quarter of 2024.Net income attributable to Hello Group Inc. decreased to RMB397.8 million (US$54.7 million) in the second quarter of 2024, from RMB568.4 million in the same period of 2023.Non-GAAP net income attributable to Hello Group Inc. (note 1) decreased to RMB449.2 million (US$61.8 million) in the second quarter of 2024, from RMB632.1 million in the same period of 2023.Diluted net income per American Depositary Share (“ADS”) was RMB2.11 (US$0.29) in the second quarter of 2024, compared to RMB2.82 in the same period of 2023.Non-GAAP diluted net income per ADS (note 1) was RMB2.38 (US$0.33) in the second quarter of 2024, compared to RMB3.14 in the same period of 2023.Monthly Active Users (“MAU”) on Tantan app were 12.9 million in June 2024, compared to 17.3 million in June 2023.For the Momo app total paying users was 7.2 million for the second quarter of 2024, compared to 7.9 million for the same period last year. Tantan had 1.0 million paying users for the second quarter of 2024 compared to 1.4 million from the year ago period.

First Half of 2024 Highlights

Net revenues decreased by 11.8% year over year to RMB5,251.8 million (US$722.7 million) for the first half of 2024.Net income attributable to Hello Group Inc. was RMB403.0 million (US$55.5 million) for the first half of 2024, compared to RMB958.7 million during the same period of 2023.Non-GAAP net income attributable to Hello Group Inc. (note 1) was RMB509.1 million (US$70.1 million) for the first half of 2024, compared to RMB1,104.1 million during the same period of 2023.Diluted net income per ADS was RMB2.10 (US$0.29) for the first half of 2024, compared to RMB4.78 during the same period of 2023.Non-GAAP diluted net income per ADS (note 1) was RMB2.65 (US$0.37) for the first half of 2024, compared to RMB5.49 during the same period of 2023.

“Q2 was a good quarter. I am pleased to see that our team has maintained the spirit of innovation and adaptation in a challenging environment,” commented Yan Tang, Chairman and CEO of Hello Group. “Momo’s cash cow business continued to be productive in a healthy community ecosystem. Regarding new endeavors, while strengthening the localization progress, we are more convinced of the revenue growth opportunities in overseas market.”

* This press release contains translations of certain Renminbi amounts into U.S. dollars at specified rate solely for the convenience of readers. Unless otherwise noted, all translations from Renminbi to U.S. dollars, in this press release, were made at a rate of RMB7.2672 to US$1.00, the effective noon buying rate for June 28, 2024 as set forth in the H.10 statistical release of the Federal Reserve Board.

Second Quarter of 2024 Financial Results

Net revenues

Total net revenues were RMB2,691.4 million (US$370.3 million) in the second quarter of 2024, a decrease of 14.2% from RMB3,137.7 million in the second quarter of 2023.

Live video service revenues were RMB1,303.0 million (US$179.3 million) in the second quarter of 2024, a decrease of 18.0% from RMB1,588.8 million during the same period of 2023. The decrease was primarily attributable to our proactive operational adjustments to de-emphasis large scale competition events in the Momo app and a soft consumer sentiment in the current macro environment, and to a lesser degree, Tantan pivoting away from the less dating-centric live video service.

Value-added service revenues mainly include virtual gift revenues and membership subscription revenues. Total value-added service revenues were RMB1,345.3 million (US$185.1 million) in the second quarter of 2024, a decrease of 10.3% from RMB1,499.5 million during the same period of 2023. The decrease was primarily due to our product adjustments to improve Momo app’s ecosystem as well as the impact of the macro economy on consumer sentiment, and to a lesser extent, the decline in Tantan’s paying users which was in turn due to the decrease in its user base, the recent product upgrade as well as adjustments in its membership auto renewal policy. The decrease was partially offset by the revenue growth from the new standalone apps.

Mobile marketing revenues were RMB42.0 million (US$5.8 million) in the second quarter of 2024, an increase of 13.5% from RMB37.0 million during the same period of 2023.

Net revenues from the Momo segment decreased from RMB2,816.6 million in the second quarter of 2023 to RMB2,457.2 million (US$338.1 million) in the second quarter of 2024, primarily due to the decrease in net revenues from value-added service and live video service on Momo app. The decrease was partially offset by the revenue growth of the new standalone apps. Net revenues from the Tantan segment decreased from RMB320.7 million in the second quarter of 2023 to RMB233.7 million (US$32.2 million) in the second quarter of 2024, mainly due to the decrease in net revenues from live video service and value-added service.

Cost and expenses

Cost and expenses were RMB2,275.2 million (US$313.1 million) in the second quarter of 2024, a decrease of 9.6% from RMB2,515.5 million in the second quarter of 2023. The decrease was primarily attributable to: (a) a decrease in revenue sharing with broadcasters related to live video service on Momo app and Tantan app, and a decrease in revenue sharing with virtual gift recipients of virtual gift service on Momo app. The decrease was partially offset by an increase in revenue sharing with virtual gift recipients for new standalone apps; (b) a decrease in salary expenses and share-based compensation expenses, due to our continuous optimization in personnel costs and the newly granted share options which had lower fair value. The decrease was partially offset by an increase in sales and marketing expenses due to more marketing spend in connection with the annual gala event of Momo’s live streaming service.

Non-GAAP cost and expenses (note 1) were RMB2,223.8 million (US$306.0 million) in the second quarter of 2024, a decrease of 9.3% from RMB2,451.8 million during the same period of 2023.

Income from operations

Income from operations was RMB425.0 million (US$58.5 million) in the second quarter of 2024, compared to RMB645.1 million during the same period of 2023. Income from operations of the Momo segment was RMB409.4 million (US$56.3 million) in the second quarter of 2024, which decreased from RMB618.8 million in the second quarter of 2023. Income from operations of the Tantan segment was RMB16.4 million (US$2.3 million) in the second quarter of 2024, which decreased from RMB30.2 million in the second quarter of 2023.

Non-GAAP income from operations (note 1) was RMB476.5 million (US$65.6 million) in the second quarter of 2024, compared to RMB708.8 million during the same period of 2023. Non-GAAP income from operations of the Momo segment was RMB456.7 million (US$62.8 million) in the second quarter of 2024, which decreased from RMB680.8 million in the second quarter of 2023. Non-GAAP income from operations of the Tantan segment was RMB20.6 million (US$2.8 million) in the second quarter of 2024, compared to RMB31.9 million in the second quarter of 2023.

Income tax expenses

Income tax expenses were RMB102.6 million (US$14.1 million) in the second quarter of 2024, compared to RMB166.0 million in the second quarter of 2023. The decrease in income tax expenses was primarily due to the lower profit in the second quarter of 2024, and to a lesser extent, lower withholding tax rate due to our eligibility for a preferential tax rate since the beginning of the year.

Net income

Net income was RMB397.8 million (US$54.7 million) in the second quarter of 2024, compared to RMB567.6 million during the same period of 2023. Net income from the Momo segment was RMB382.8 million (US$52.7 million) in the second quarter of 2024, compared to RMB542.4 million in the same period of 2023. Net income from the Tantan segment was RMB15.8 million (US$2.2 million) in the second quarter of 2024, compared to RMB29.1 million in the second quarter of 2023.

Non-GAAP net income (note 1) was RMB449.2 million (US$61.8 million) in the second quarter of 2024, compared to RMB631.3 million during the same period of 2023. Non-GAAP net income from the Momo segment was RMB430.0 million (US$59.2 million) in the second quarter of 2024, which decreased from RMB604.4 million in the second quarter of 2023. Non-GAAP net income of the Tantan segment was RMB20.0 million (US$2.8 million) in the second quarter of 2024, compared to RMB30.8 million in the second quarter of 2023.

Net income attributable to Hello Group Inc.

Net income attributable to Hello Group Inc. was RMB397.8 million (US$54.7 million) in the second quarter of 2024, compared to RMB568.4 million during the same period of 2023.

Non-GAAP net income (note 1) attributable to Hello Group Inc. was RMB449.2 million (US$61.8 million) in the second quarter of 2024, compared to RMB632.1 million during the same period of 2023.

Net income per ADS

Diluted net income per ADS was RMB2.11 (US$0.29) in the second quarter of 2024, compared to RMB2.82 in the second quarter of 2023.

Non-GAAP diluted net income per ADS (note 1) was RMB2.38 (US$0.33) in the second quarter of 2024, compared to RMB3.14 in the second quarter of 2023.

Cash and cash flow

As of June 30, 2024, the Company’s cash, cash equivalents, short-term deposits, long-term deposits, short-term restricted cash and long-term restricted cash totaled RMB14,316.4 million (US$1,970.0 million), compared to RMB13,478.5 million as of December 31, 2023.

Net cash provided by operating activities in the second quarter of 2024 was RMB475.2 million (US$65.4 million), compared to RMB827.7 million in the second quarter of 2023.

First Half of 2024 Financial Results

Net revenues for the first half of 2024 were RMB5,251.8 million (US$722.7 million), a decrease of 11.8% from RMB5,956.5 million in the same period of 2023.

Net income attributable to Hello Group Inc. was RMB403.0 million (US$55.5 million) for the first half of 2024, compared to RMB958.7 million during the same period of 2023.

Non-GAAP net income attributable to Hello Group Inc. (note 1) was RMB509.1 million (US$70.1 million) for the first half of 2024, compared to RMB1,104.1 million during the same period of 2023.

Diluted net income per ADS was RMB2.10 (US$0.29) during the first half of 2024, compared to RMB4.78 in the same period of 2023.

Non-GAAP diluted net income per ADS (note 1) was RMB2.65 (US$0.37) during the first half of 2024, compared to RMB5.49 in the same period of 2023.

Net cash provided by operating activities was RMB875.4 million (US$120.5 million) during the first half of 2024, compared to RMB1,278.8 million in the same period of 2023.

Recent Development

Share repurchase program

On June 7, 2022, Hello Group’s board of directors authorized a share repurchase program under which the Company may repurchase up to US$200 million of its shares up to June 6, 2024 (the “Share Repurchase Program”). On March 14, 2024, Hello Group’s board of directors approved to amend the Share Repurchase Program to (i) extend the term of the Share Repurchase Program up to June 30, 2026, and (ii) upsize the Share Repurchase Program so that the Company is authorized to, from time to time, acquire up to an aggregate of US$286.1 million worth of its shares in the form of ADSs and/or the ordinary shares of the Company in the open market and through privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations.

As of September 3, the Company has repurchased 30.9 million ADSs for US$174.6 million on the open market under Share Repurchase Program announced on June 7, 2022 and amended on March 14, 2024, at an average purchase price of US$5.63 per ADS.

Business Outlook

For the third quarter of 2024, the Company expects total net revenues to be between RMB2.58 billion to RMB2.68 billion, representing a decrease of 15.2% to 11.9% year over year. This forecast reflects the Company’s current and preliminary views on the market and operational conditions, which are subject to change.

Note 1: Non-GAAP measures

To supplement our consolidated financial statements presented in accordance with U.S. generally accepted accounting principles (“GAAP”), we, Hello Group, use various non-GAAP financial measures that are adjusted from the most comparable GAAP results to exclude share-based compensation and such adjustment has no impact on income tax.

Reconciliations of our non-GAAP financial measures to our U.S. GAAP financial measures are shown in tables at the end of this earnings release, which provide more details about the non-GAAP financial measures.

Our non-GAAP financial information is provided as additional information to help investors compare business trends among different reporting periods on a consistent basis and to enhance investors’ overall understanding of the historical and current financial performance of our continuing operations and our prospects for the future. Our non-GAAP financial information should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for or superior to the GAAP results. In addition, our calculation of the non-GAAP financial measures may be different from the calculation used by other companies, and therefore comparability may be limited.

Our non-GAAP information (including non-GAAP cost and operating expenses, income (loss) from operations, net income (loss), net income attributable to Hello Group Inc., and diluted net income per ADS) is adjusted from the most comparable GAAP results to exclude share-based compensation and such adjustment has no impact on income tax. A limitation of using these non-GAAP financial measures is that share-based compensation has been and will continue to be for the foreseeable future significant recurring expenses in our results of operations. We compensate for such limitation by providing reconciliations of our non-GAAP measures to our U.S. GAAP measures. Please see the reconciliation tables at the end of this earnings release.

Conference Call

Hello Group’s management will host an earnings conference call on Tuesday, September 3, 2024, at 8:00 a.m. U.S. Eastern Time (8:00 p.m. Beijing / Hong Kong Time on September 3, 2024).

Participants can register for the conference call by navigating to:

https://s1.c-conf.com/diamondpass/10041441-w8sbhf.html.

Upon registration, each participant will receive details for the conference call, including dial-in numbers, conference call passcode and a unique access PIN. Please dial in 10 minutes before the call is scheduled to begin.

A telephone replay of the call will be available after the conclusion of the conference call through September 10, 2024. The dial-in details for the replay are as follows:

U.S. / Canada: 1-855-883-1031

Hong Kong: 800-930-639

Passcode: 10041441

Additionally, a live and archived webcast of the conference call will be available on the Investor Relations section of Hello Group’s website at https://ir.hellogroup.com.

About Hello Group Inc.

We are a leading player in mainland China’s online social networking space. Through Momo, Tantan and other properties within our product portfolio, we enable users to discover new relationships, expand their social connections and build meaningful interactions. Momo is a mobile application that connects people and facilitates social interactions based on location, interests and a variety of online recreational activities. Tantan, which was added into our family of applications through acquisition in May 2018, is a leading social and dating application. Tantan is designed to help its users find and establish romantic connections as well as meet interesting people. Starting from 2019, we have incubated a number of other new apps, such as Hertz, Soulchill, Duidui and Tietie, which target more niche markets and more selective demographics.

For investor and media inquiries, please contact:

Hello Group Inc.

Investor Relations
Phone: +86-10-5731-0538
Email: ir@hellogroup.com

Christensen

In China
Ms. Xiaoyan Su
Phone: +86-10-5900-1548
E-mail: Xiaoyan.Su@christensencomms.com

In U.S.

Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: linda.bergkamp@christensencomms.com

Safe Harbor Statement

This news release contains “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements include but are not limited to our management quotes, our financial outlook for the third quarter of 2024, as well as the amount of, timing, methods and funding sources for repurchases of our shares under the share repurchase program.

Our forward-looking statements are not historical facts but instead represent only our belief regarding expected results and events, many of which, by their nature, are inherently uncertain and outside of our control. Our actual results and other circumstances may differ, possibly materially, from the anticipated results and events indicated in these forward-looking statements. Announced results for the second quarter of 2024 are preliminary, unaudited and subject to audit adjustment. In addition, we may not meet our financial outlook for the third quarter of 2024 and may be unable to grow our business in the manner planned. We may also modify our strategy for growth. Moreover, there are other risks and uncertainties that could cause our actual results to differ from what we currently anticipate, including those relating to our ability to retain and grow our user base, our ability to attract and retain sufficiently trained professionals to support our operations, our ability to anticipate and develop new services and enhance existing services to meet the demand of our users or customers, the market price of the Company’s stock prevailing from time to time, the nature of other investment opportunities presented to the Company from time to time, the Company’s cash flows from operations, general economic conditions, and other factors. For additional information on these and other important factors that could adversely affect our business, financial condition, results of operations, and prospects, please see our filings with the U.S. Securities and Exchange Commission.

All information provided in this press release and in the attachments is as of the date of the press release. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, after the date of this release, except as required by law. Such information speaks only as of the date of this release.

Hello Group Inc.

Unaudited Condensed Consolidated Statement of Operations

(All amounts in thousands, except share and per share data)

Three months

First half year

Ended June 30

2023

2024

2023

2024

RMB

US$

RMB

US$

Net revenues:

Live video service

1,588,849

1,303,020

179,302

3,018,189

2,541,561

349,730

Value-added service

1,499,482

1,345,316

185,121

2,860,951

2,639,692

363,234

Mobile marketing

36,986

41,990

5,778

58,057

68,585

9,438

Mobile games

2,606

–

6,305

432

Other services

9,763

1,065

147

13,042

1,541

212

Total net revenues

3,137,686

2,691,391

370,348

5,956,544

5,251,811

722,673

Cost and expenses:

Cost of revenues

(1,819,559)

(1,595,789)

(219,588)

(3,483,747)

(3,098,797)

(426,409)

Research and development

(214,649)

(193,168)

(26,581)

(451,452)

(385,359)

(53,027)

Sales and marketing

(356,525)

(364,769)

(50,194)

(736,311)

(658,200)

(90,571)

General and administrative

(124,787)

(121,482)

(16,716)

(263,085)

(252,863)

(34,795)

Total cost and expenses

(2,515,520)

(2,275,208)

(313,079)

(4,934,595)

(4,395,219)

(604,802)

Other operating income, net

22,919

8,861

1,219

59,313

28,767

3,958

Income from operations

645,085

425,044

58,488

1,081,262

885,359

121,829

Interest income

115,321

130,937

18,018

215,108

252,044

34,682

Interest expense

(11,963)

(32,493)

(4,471)

(22,378)

(56,191)

(7,732)

Other gain or loss, net

4,565

(34,625)

(4,765)

4,565

(43,870)

(6,037)

Income before income tax and share of (loss) income on equity method
investments

753,008

488,863

67,270

1,278,557

1,037,342

142,742

Income tax expenses

(165,969)

(102,614)

(14,120)

(288,582)

(660,227)

(90,850)

Income before share of (loss) income on equity method investments

587,039

386,249

53,150

989,975

377,115

51,892

Share of (loss) income on equity method investments

(19,439)

11,536

1,587

(32,914)

25,854

3,558

Net income

567,600

397,785

54,737

957,061

402,969

55,450

Less: net loss attributable to non-controlling interest

(795)

–

(1,623)

–

Net income attributable to the shareholders of Hello Group Inc.

568,395

397,785

54,737

958,684

402,969

55,450

Net income per share attributable to ordinary shareholders

Basic

1.50

1.10

0.15

2.54

1.09

0.15

Diluted

1.41

1.05

0.14

2.39

1.05

0.14

Weighted average shares used in calculating net income per ordinary share

Basic

377,920,901

362,394,762

377,471,487

368,522,705

Diluted

409,201,815

377,903,589

409,151,850

383,528,002

Hello Group Inc.

Unaudited Condensed Consolidated Statement of Comprehensive Income

(All amounts in thousands, except share and per share data)

Three months

First half year

Ended June 30

2023

2024

2023

2024

RMB

US$

RMB

US$

Net income

567,600

397,785

54,737

957,061

402,969

55,450

Other comprehensive income, net of tax:

Foreign currency translation adjustment

107,975

41,569

5,720

110,156

96,463

13,274

Comprehensive income

675,575

439,354

60,457

1,067,217

499,432

68,724

Less: comprehensive income attributed to the non-controlling interest

10,188

1,202

165

8,518

4,286

590

Comprehensive income attributable to Hello Group Inc.

665,387

438,152

60,292

1,058,699

495,146

68,134

Hello Group Inc.

Unaudited Condensed Consolidated Balance Sheets

(All amounts in thousands, except share and per share data)

December 31

June 30

2023

2024

RMB

US$

Assets

Current assets

Cash and cash equivalents

5,620,466

5,958,586

819,929

Short-term deposits

1,270,626

350,000

48,162

Restricted cash

10,147

1,513,894

208,319

Accounts receivable, net of allowance for doubtful accounts of RMB12,780 and
RMB12,615 as of December 31, 2023 and June 30, 2024, respectively

201,517

184,840

25,435

Amounts due from related parties

7,258

–

Prepaid expenses and other current assets

723,364

776,812

106,893

Total current assets

7,833,378

8,784,132

1,208,738

Long-term deposits

3,924,975

3,816,800

525,209

Long-term restricted cash

2,652,299

2,677,110

368,383

Right-of-use assets, net

109,572

304,301

41,873

Property and equipment, net

659,033

889,309

122,373

Intangible assets, net

17,086

14,527

1,999

Rental deposits

12,962

13,770

1,895

Long-term investments

786,911

726,981

100,036

Amounts due from RPT-non current

20,000

–

Other non-current assets

180,052

211,744

29,137

Deferred tax assets

31,741

35,820

4,929

Total assets

16,228,009

17,474,494

2,404,572

Liabilities and equity

Current liabilities

Accounts payable

616,681

607,035

83,532

Deferred revenue

442,805

444,657

61,187

Accrued expenses and other current liabilities

630,617

607,062

83,535

Amounts due to related parties

4,314

–

Lease liabilities due within one year

60,008

153,979

21,188

Income tax payable

94,719

58,224

8,012

Deferred consideration in connection with business acquisitions

27,261

27,904

3,840

Long-term borrowings, current portion

215,615

29,670

Short-term borrowings

–

1,331,635

183,239

Total current liabilities

2,092,020

3,446,111

474,203

Deferred tax liabilities

24,987

408,451

56,205

Convertible Senior Notes

19,571

20,067

2,761

Long-term borrowings

1,938,385

1,938,169

266,701

Lease liabilities

52,171

158,821

21,854

Other non-current liabilities

114,085

137,811

18,963

Total liabilities

4,241,219

6,109,430

840,687

Shareholder’s equity (i)

11,986,790

11,365,064

1,563,885

Total liabilities and shareholder’s equity

16,228,009

17,474,494

2,404,572

(i): As of June 30, 2024, the number of ordinary shares outstanding was 352,650,980.

Hello Group Inc.

Unaudited Condensed Consolidated Statement of Cash Flows

(All amounts in thousands, except share and per share data)

Three months

First half year

Ended June 30

2023

2024

2023

2024

RMB

US$

RMB

US$

Cash flows from operating activities:

Net income

567,600

397,785

54,737

957,061

402,969

55,450

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation of property and equipment

18,787

13,525

1,861

41,631

27,835

3,830

Amortization of intangible assets

1,279

176

2,558

352

Share-based compensation

63,748

51,458

7,081

145,405

106,128

14,604

Share of loss (income) on equity method investments

19,439

(11,536)

(1,587)

32,914

(25,854)

(3,558)

Gain on repurchase of convertible senior notes

(4,565)

–

(4,565)

–

Cash received on distributions from equity method investments

1,349

1,197

165

1,349

1,197

165

Loss on long-term investments

–

34,625

4,765

–

43,870

6,037

Gain or loss on disposal of property and equipment

(527)

(178)

(24)

(460)

Provision of loss on receivable and other assets

1,022

145

10,204

1,921

264

Changes in operating assets and liabilities:

Accounts receivable

(20,117)

4,848

667

(20,665)

15,828

2,178

Prepaid expenses and other current assets

170,514

15,043

2,070

194,866

5,366

738

Amounts due from related parties

–

Rental deposits

951

–

951

(802)

(110)

Deferred tax assets

(1,580)

(217)

457

(4,078)

(561)

Other non-current assets

30,424

(198,746)

(27,348)

22,939

(206,343)

(28,394)

Accounts payable

11,459

(14,292)

(1,967)

31,838

(31,746)

(4,368)

Income tax payable

2,674

(42,533)

(5,853)

(3,719)

(36,497)

(5,022)

Deferred revenue

(14,062)

(15,268)

(2,101)

(22,873)

1,406

193

Accrued expenses and other current liabilities

(54,827)

121,547

16,725

(187,560)

64,747

8,909

Amount due to related parties

(272)

–

2,897

–

Deferred tax liabilities

48,397

14,410

1,983

82,517

379,421

52,210

Other non-current liabilities

(15,548)

103,500

14,242

(8,984)

127,393

17,530

Net cash provided by operating activities

827,742

475,229

65,395

1,278,816

875,399

120,458

Cash flows from investing activities:

Purchase of property and equipment

(11,010)

(199,842)

(27,499)

(21,244)

(244,018)

(33,578)

Payment for long-term investments

(9,000)

(5,250)

(722)

(9,000)

(5,250)

(722)

Purchase of short-term deposits

–

(497,342)

–

Cash received on maturity of short-term deposits

2,609,820

781,016

107,471

3,509,820

1,081,016

148,753

Cash received on investment income distribution

1,517

–

1,517

–

Purchase of long-term deposits

(1,350,000)

–

(1,350,000)

(718,860)

(98,918)

Cash received on maturity of long-term deposits

–

718,860

98,918

Cash received from sales of long-term investment

–

2,000

275

Other investing activities

947

298

1,685

683

Net cash provided by investing activities

1,242,274

576,222

79,291

1,635,436

834,431

114,822

Cash flows from financing activities:

Proceeds from exercise of share options

–

Payment in relation to the share repurchase program

–

(394,561)

(54,293)

(3,237)

(506,822)

(69,741)

Repurchase of subsidiary’s share options

(2,557)

–

(4,096)

–

Dividends payment

(937,249)

(716,302)

(98,566)

(937,249)

(716,302)

(98,566)

Proceeds from short-term borrowings

–

1,331,635

183,239

Repayment of long-term borrowings

–

(215)

(30)

Payment for redemption of convertible bonds

(2,114,224)

–

(2,593,010)

–

Net cash (used in) provided by financing activities

(3,054,014)

(1,110,861)

(152,859)

(3,537,573)

108,309

14,904

Effect of exchange rate changes

145,860

27,725

3,814

136,434

48,539

6,680

Net (decrease) increase in cash and cash equivalents

(838,138)

(31,685)

(4,359)

(486,887)

1,866,678

256,864

Cash, cash equivalents and restricted cash at the beginning of period

5,549,852

10,181,275

1,400,990

5,198,601

8,282,912

1,139,767

Cash, cash equivalents and restricted cash at the end of period

4,711,714

10,149,590

1,396,631

4,711,714

10,149,590

1,396,631

Hello Group Inc.

Reconciliation of Non-GAAP financial measures to comparable GAAP measures

(All amounts in thousands, except per share data)

Reconciliation of Non-GAAP cost and operating expenses, income from operations, and net income to comparable GAAP measures.

Three months

Ended June 30, 2023

Ended June 30, 2024

GAAP

Share-based
compensation

Non-GAAP

GAAP

Share-based
compensation

Non-GAAP

GAAP

Share-based
compensation

Non-GAAP

RMB

US$

Cost of revenues

(1,819,559)

1,552

(1,818,007)

(1,595,789)

1,796

(1,593,993)

(219,588)

247

(219,341)

Research and development

(214,649)

13,821

(200,828)

(193,168)

13,512

(179,656)

(26,581)

1,860

(24,721)

Sales and marketing

(356,525)

6,813

(349,712)

(364,769)

4,149

(360,620)

(50,194)

571

(49,623)

General and administrative

(124,787)

41,562

(83,225)

(121,482)

32,001

(89,481)

(16,716)

4,403

(12,313)

Cost and operating expenses

(2,515,520)

63,748

(2,451,772)

(2,275,208)

51,458

(2,223,750)

(313,079)

7,081

(305,998)

Income from operations

645,085

63,748

708,833

425,044

51,458

476,502

58,488

7,081

65,569

Net income attributable to Hello Group Inc.

568,395

63,748

632,143

397,785

51,458

449,243

54,737

7,081

61,818

Hello Group Inc.

Reconciliation of Non-GAAP financial measures to comparable GAAP measures

(All amounts in thousands, except per share data)

Reconciliation of Non-GAAP cost and operating expenses, income from operations, and net income to comparable GAAP measures-continued.

First half year

Ended June 30, 2023

Ended June 30, 2024

GAAP

Share-based
compensation

Non-GAAP

GAAP

Share-based
compensation

Non-GAAP

GAAP

Share-based
compensation

Non-GAAP

RMB

US$

Cost of revenues

(3,483,747)

3,187

(3,480,560)

(3,098,797)

3,678

(3,095,119)

(426,409)

506

(425,903)

Research and development

(451,452)

36,193

(415,259)

(385,359)

22,298

(363,061)

(53,027)

3,068

(49,959)

Sales and marketing

(736,311)

14,559

(721,752)

(658,200)

10,266

(647,934)

(90,571)

1,413

(89,158)

General and administrative

(263,085)

91,466

(171,619)

(252,863)

69,886

(182,977)

(34,795)

9,617

(25,178)

Cost and operating expenses

(4,934,595)

145,405

(4,789,190)

(4,395,219)

106,128

(4,289,091)

(604,802)

14,604

(590,198)

Income from operations

1,081,262

145,405

1,226,667

885,359

106,128

991,487

121,829

14,604

136,433

Net income attributable to Hello Group Inc.

958,684

145,405

1,104,089

402,969

106,128

509,097

55,450

14,604

70,054

Hello Group Inc.

Unaudited Condensed Segment Report

(All amounts in thousands, except share and per share data)

Three months

Ended June 30, 2024

Momo

Tantan

QOOL

Total

RMB

US$

Net revenues:

Live video service

1,220,013

83,007

–

1,303,020

179,302

Value-added service

1,205,460

139,856

–

1,345,316

185,121

Mobile marketing

31,136

10,854

–

41,990

5,778

Other services

582

–

483

1,065

147

Total net revenues

2,457,191

233,717

483

2,691,391

370,348

Cost and expenses (ii):

Cost of revenues

(1,491,925)

(103,862)

(2)

(1,595,789)

(219,588)

Research and development

(151,180)

(41,988)

–

(193,168)

(26,581)

Sales and marketing

(301,121)

(62,473)

(1,175)

(364,769)

(50,194)

General and administrative

(112,387)

(8,978)

(117)

(121,482)

(16,716)

Total cost and expenses

(2,056,613)

(217,301)

(1,294)

(2,275,208)

(313,079)

Other operating income

8,858

8,861

1,219

Income (loss) from operations

409,436

16,417

(809)

425,044

58,488

Interest income

130,777

158

130,937

18,018

Interest expense

(32,493)

–

(32,493)

(4,471)

Other gain or loss, net

(34,625)

–

(34,625)

(4,765)

Income (loss) before income tax and share of income on equity method investments

473,095

16,575

(807)

488,863

67,270

Income tax expenses

(101,865)

(749)

–

(102,614)

(14,120)

Income (loss) before share of income on equity method investments

371,230

15,826

(807)

386,249

53,150

Share of income on equity method investments

11,536

–

11,536

1,587

Net income (loss)

382,766

15,826

(807)

397,785

54,737

(ii) Share-based compensation was allocated in cost of revenues and operating expenses as follows:

Three months

Ended June 30, 2024

Momo

Tantan

QOOL

Total

RMB

US$

Cost of revenues

1,796

–

1,796

247

Research and development

9,325

4,187

–

13,512

1,860

Sales and marketing

4,149

–

4,149

571

General and administrative

31,998

–

32,001

4,403

Total cost and expenses

47,268

4,190

–

51,458

7,081

Hello Group Inc.

Reconciliation of GAAP and NON-GAAP Results of Unaudited Segment Report

(All amounts in thousands, except share and per share data)

Three months

Ended June 30, 2024

Momo

Tantan

QOOL

Total

RMB

US$

Income (loss) from operations

409,436

16,417

(809)

425,044

58,488

Share-based compensation

47,268

4,190

–

51,458

7,081

Non-GAAP income (loss) from operations

456,704

20,607

(809)

476,502

65,569

Net income (loss)

382,766

15,826

(807)

397,785

54,737

Share-based compensation

47,268

4,190

–

51,458

7,081

Non-GAAP net income (loss)

430,034

20,016

(807)

449,243

61,818

Hello Group Inc.

Unaudited Condensed Segment Report

(All amounts in thousands, except share and per share data)

Three months

Ended June 30, 2023

Momo

Tantan

QOOL

Total

RMB

US$[1]

Net revenues:

Live video service

1,443,602

145,247

–

1,588,849

219,112

Value-added service

1,329,310

170,172

–

1,499,482

206,788

Mobile marketing

31,670

5,316

–

36,986

5,101

Mobile games

2,606

–

2,606

359

Other services

9,459

–

304

9,763

1,347

Total net revenues

2,816,647

320,735

304

3,137,686

432,707

Cost and expenses (iii):

Cost of revenues

(1,658,335)

(160,651)

(573)

(1,819,559)

(250,929)

Research and development

(163,040)

(51,609)

–

(214,649)

(29,601)

Sales and marketing

(282,903)

(72,378)

(1,244)

(356,525)

(49,167)

General and administrative

(116,197)

(6,198)

(2,392)

(124,787)

(17,209)

Total cost and expenses

(2,220,475)

(290,836)

(4,209)

(2,515,520)

(346,906)

Other operating income, net

22,648

271

–

22,919

3,161

Income (loss) from operations

618,820

30,170

(3,905)

645,085

88,962

Interest income

114,946

358

115,321

15,903

Interest expense

(11,963)

–

(11,963)

(1,650)

Other gain or loss, net

4,565

–

4,565

630

Income (loss) before income tax and share of loss on equity method
investments

726,368

30,528

(3,888)

753,008

103,845

Income tax expenses

(164,541)

(1,428)

–

(165,969)

(22,888)

Income (loss) before share of loss on equity method investments

561,827

29,100

(3,888)

587,039

80,957

Share of loss on equity method investments

(19,439)

–

(19,439)

(2,681)

Net income (loss)

542,388

29,100

(3,888)

567,600

78,276

(iii) Share-based compensation was allocated in cost of revenues and operating expenses as follows:

Three months

Ended June 30, 2023

Momo

Tantan

QOOL

Total

RMB

US$

Cost of revenues

1,437

115

–

1,552

214

Research and development

12,222

1,599

–

13,821

1,906

Sales and marketing

6,813

–

6,813

940

General and administrative

41,554

–

41,562

5,732

Total cost and expenses

62,026

1,722

–

63,748

8,792

[1] All translations from RMB to U.S. dollars are made at a rate of RMB7.2513 to US$1.00, the effective noon buying rate for June 30, 2023 as set forth in the H.10 statistical release of the
Federal Reserve Board.

Hello Group Inc.

Reconciliation of GAAP and NON-GAAP Results of Unaudited Segment Report

(All amounts in thousands, except share and per share data)

Three months

Ended June 30, 2023

Momo

Tantan

QOOL

Total

RMB

US$

Income (loss) from operations

618,820

30,170

(3,905)

645,085

88,962

Share-based compensation

62,026

1,722

–

63,748

8,792

Non-GAAP income (loss) from operations

680,846

31,892

(3,905)

708,833

97,754

Net income (loss)

542,388

29,100

(3,888)

567,600

78,276

Share-based compensation

62,026

1,722

–

63,748

8,792

Non-GAAP net income (loss)

604,414

30,822

(3,888)

631,348

87,068

Hello Group Inc.

Unaudited Condensed Segment Report

(All amounts in thousands, except share and per share data)

First half year

Ended June 30, 2024

Momo

Tantan

QOOL

Total

RMB

US$

Net revenues:

Live video service

2,370,857

170,704

–

2,541,561

349,730

Value-added service

2,354,745

284,947

–

2,639,692

363,234

Mobile marketing

49,029

19,556

–

68,585

9,438

Mobile games

432

–

432

Other services

1,016

–

525

1,541

212

Total net revenues

4,776,079

475,207

525

5,251,811

722,673

Cost and expenses (iv):

Cost of revenues

(2,884,749)

(214,046)

(2)

(3,098,797)

(426,409)

Research and development

(302,041)

(83,318)

–

(385,359)

(53,027)

Sales and marketing

(537,780)

(116,955)

(3,465)

(658,200)

(90,571)

General and administrative

(236,139)

(16,569)

(155)

(252,863)

(34,795)

Total cost and expenses

(3,960,709)

(430,888)

(3,622)

(4,395,219)

(604,802)

Other operating income

28,016

725

28,767

3,958

Income (loss) from operations

843,386

45,044

(3,071)

885,359

121,829

Interest income

251,735

305

252,044

34,682

Interest expense

(56,191)

–

(56,191)

(7,732)

Other gain or loss, net

(43,870)

–

(43,870)

(6,037)

Income (loss) before income tax and share of income on equity method investments

995,060

45,349

(3,067)

1,037,342

142,742

Income tax expenses

(658,944)

(1,283)

–

(660,227)

(90,850)

Income (loss) before share of income on equity method investments

336,116

44,066

(3,067)

377,115

51,892

Share of income on equity method investments

25,854

–

25,854

3,558

Net income (loss)

361,970

44,066

(3,067)

402,969

55,450

(iv) Share-based compensation was allocated in cost of revenues and operating expenses as follows:

First half year

Ended June 30, 2024

Momo

Tantan

QOOL

Total

RMB

US$

Cost of revenues

3,674

–

3,678

506

Research and development

17,963

4,335

–

22,298

3,068

Sales and marketing

10,266

–

10,266

1,413

General and administrative

69,872

–

69,886

9,617

Total cost and expenses

101,775

4,353

–

106,128

14,604

Hello Group Inc.

Reconciliation of GAAP and NON-GAAP Results of Unaudited Segment Report

(All amounts in thousands, except share and per share data)

First half year

Ended June 30, 2024

Momo

Tantan

QOOL

Total

RMB

US$

Income (loss) from operations

843,386

45,044

(3,071)

885,359

121,829

Share-based compensation

101,775

4,353

–

106,128

14,604

Non-GAAP income (loss) from operations

945,161

49,397

(3,071)

991,487

136,433

Net income (loss)

361,970

44,066

(3,067)

402,969

55,450

Share-based compensation

101,775

4,353

–

106,128

14,604

Non-GAAP net income (loss)

463,745

48,419

(3,067)

509,097

70,054

Hello Group Inc.

Unaudited Condensed Segment Report

(All amounts in thousands, except share and per share data)

First half year

Ended June 30, 2023

Momo

Tantan

QOOL

Total

RMB

US$

Net revenues:

Live video service

2,733,320

284,869

–

3,018,189

416,227

Value-added service

2,522,854

338,097

–

2,860,951

394,543

Mobile marketing

51,691

6,366

–

58,057

8,006

Mobile games

6,305

–

6,305

869

Other services

12,596

–

446

13,042

1,800

Total net revenues

5,326,766

629,332

446

5,956,544

821,445

Cost and expenses (v):

Cost of revenues

(3,158,866)

(323,765)

(1,116)

(3,483,747)

(480,431)

Research and development

(332,348)

(119,104)

–

(451,452)

(62,258)

Sales and marketing

(595,543)

(138,230)

(2,538)

(736,311)

(101,542)

General and administrative

(244,275)

(13,944)

(4,866)

(263,085)

(36,281)

Total cost and expenses

(4,331,032)

(595,043)

(8,520)

(4,934,595)

(680,512)

Other operating income

58,126

1,125

59,313

8,180

Income (loss) from operations

1,053,860

35,414

(8,012)

1,081,262

149,113

Interest income

214,477

562

215,108

29,665

Interest expense

(22,378)

–

(22,378)

(3,086)

Other gain or loss, net

4,565

–

4,565

630

Income (loss) before income tax and share of loss on equity method investments

1,250,524

35,976

(7,943)

1,278,557

176,322

Income tax expenses

(286,183)

(2,399)

–

(288,582)

(39,797)

Income (loss) before share of loss on equity method investments

964,341

33,577

(7,943)

989,975

136,525

Share of loss on equity method investments

(32,914)

–

(32,914)

(4,539)

Net income (loss)

931,427

33,577

(7,943)

957,061

131,986

(v) Share-based compensation was allocated in cost of revenues and operating expenses as follows:

First half year

Ended June 30, 2023

Momo

Tantan

QOOL

Total

RMB

US$

Cost of revenues

3,055

132

–

3,187

440

Research and development

25,392

10,801

–

36,193

4,991

Sales and marketing

14,554

–

14,559

2,008

General and administrative

91,450

–

91,466

12,614

Total cost and expenses

134,451

10,954

–

145,405

20,053

Hello Group Inc.

Reconciliation of GAAP and NON-GAAP Results of Unaudited Segment Report

(All amounts in thousands, except share and per share data)

First half year

ended June 30, 2023

Momo

Tantan

QOOL

Total

RMB

US$

Operating income (loss)

1,053,860

35,414

(8,012)

1,081,262

149,113

Share-based compensation

134,451

10,954

–

145,405

20,053

Non-GAAP operating income (loss)

1,188,311

46,368

(8,012)

1,226,667

169,166

Net income (loss)

931,427

33,577

(7,943)

957,061

131,986

Share-based compensation

134,451

10,954

–

145,405

20,053

Non-GAAP net income (loss)

1,065,878

44,531

(7,943)

1,102,466

152,039

View original content:https://www.prnewswire.com/news-releases/hello-group-inc-announces-unaudited-financial-results-for-the-second-quarter-of-2024-302236454.html

SOURCE Hello Group Inc.

Technology

RhythMedix Launches Next-Generation RhythmStar® SL Cardiac Monitor

Published

10 minutes ago

April 22, 2026

Advancing Remote Cardiac Monitoring with Faster Insights, Greater Comfort, and Seamless Connectivity

MOUNT LAUREL, N.J., April 22, 2026 /PRNewswire/ — RhythMedix, LLC (RhythMedix), a nationwide U.S.-based cardiac monitoring company, today announced the launch of its next-generation RhythmStar® SL cardiac monitoring wearable. The third-generation design significantly enhances the patient experience, improving comfort, wearability, and patient adherence. These advancements are enabled by a compact lead configuration, waterproof IPX-6 rating, and increased battery life.

RhythmStar continues to differentiate through its built-in cellular connectivity, enabling ECG data to be automatically transmitted to the cloud for seamless, prompt review across all monitoring modes – without requiring device return by mail for data processing.

When paired with the company’s proprietary Augmented Arrhythmia Intelligence™ (AAI), RhythmStar SL delivers precise arrhythmia detection by combining advanced algorithms with a multi-layered data review process.

“RhythmStar represents our commitment to delivering a better way to monitor, one that prioritizes both patient comfort and clinical performance,” said Brian Pike, CEO of RhythMedix. “By combining a more wearable design with seamless data transmission and expert review, we’re helping clinicians access the insights they need, when they need them.”

“RhythMedix is taking a truly visionary approach to cardiac monitoring by combining patient-friendly design with advanced technology and expert oversight, helping clinicians make more confident, timely decisions,” stated George Shaw, MD, Electrophysiologist at AHN Allegheny Health Network. “It’s a meaningful step forward in how we deliver and manage cardiac care.”

With over 2 million hearts monitored to date, RhythMedix continues to advance remote cardiac monitoring through technology designed to improve both patient adherence and clinical workflow. The company will be exhibiting at HRS 2026 (Booth #531), including in-booth discussions with leading electrophysiologists.

About RhythMedix

Founded in 2013 and headquartered in Mount Laurel, New Jersey, RhythMedix is a fully integrated cardiac monitoring company providing end-to-end device manufacturing, software development, and 24/7 U.S.-based monitoring services. With no third-party dependence, RhythMedix delivers a seamless and secure remote cardiac monitoring experience for clinics, health systems, and patients nationwide.

To learn more, visit rhythmedix.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/rhythmedix-launches-next-generation-rhythmstar-sl-cardiac-monitor-302750932.html

SOURCE RHYTHMEDIX

Technology

Copyright Enforcement Dialogue 2026 in Taipei Reinforces Regional Public-Private Cooperation Against Digital Piracy

Published

10 minutes ago

April 22, 2026

TAIPEI, April 23, 2026 /PRNewswire/ — On April 22, 2026, the Motion Picture Association (MPA) Asia Pacific concluded the Copyright Enforcement Dialogue: Taipei 2026, convening senior policymakers, law enforcement authorities, judicial representatives, and industry experts from across Asia–Pacific to advance coordinated action against copyright infringement and digital piracy, ahead of World Intellectual Property Day on April 26.

Organised in collaboration with the Alliance for Creativity and Entertainment (ACE) and the Homeland Security Investigations (HSI), with the participation of international and local enforcement agencies, the dialogue reinforced the importance of cross border collaboration, effective regulatory frameworks, and public–private partnerships to protect intellectual property and support the creative economy.

In her welcome address, Sue Wang, Deputy Minister of Culture and Chairperson of the Taiwan Creative Content Agency (TAICCA), underscored the role of copyright protection in sustaining a healthy creative ecosystem: “The foundation of culture is copyright protection. If there was no copyright protection, there would no culture in the world. Therefore, copyright protection is the core of every culture.”

Across four expert panels, participants examined the evolving piracy landscape, shared regulatory and enforcement challenges, the role of public–private collaboration in real–world enforcement, and the growing threat posed by illegal streaming devices, drawing on legal, technical, and investigative perspectives. A dedicated piracy case study session led by Taiwan’s law enforcement authorities showcased recent investigative efforts and reinforced the value of information–sharing and technical cooperation.

Addressing Taiwan’s enforcement framework, Hung Sheng-I, Director of the Copyright Division at the Intellectual Property Office, Ministry of Economic Affairs, said, “By integrating the Set-Top Box Act with domain seizure and follow-the-money mechanisms, Taiwan has established a comprehensive and enforceable framework that serves as a powerful shield for IP protection in the digital environment.”

Itae Choi, Executive Director of the Copyright Overseas Promotion Association (COA), said: “We must be grateful to all users who love and enjoy our content. It is essential to widely communicate the value of their voluntary and legal use, so that those who consume it unlawfully may be encouraged to join them. To this end, we will intensify our efforts in raising awareness and fostering a culture of respect among content users.”

Choi also emphasized the central role of cooperation in effective copyright enforcement: “Cooperation is vital in every field, but it is especially crucial in addressing copyright infringement. Private sector efforts cannot succeed without the collaboration of public authorities such as law enforcement and the judiciary. We are, in effect, running a three–legged race together — and to win, we must stay in step with one another.”

Noting the level of international participation, James Cheatley, Vice President, VOD, Digital Affairs and Intellectual Property, Asia Pacific at the Motion Picture Association, said the dialogue reflected the shared nature of the challenge posed by piracy: “We have industry leaders, government policymakers, and law enforcement experts from five countries taking part in this dialogue. That level of international cooperation reflects the reality that piracy is a shared challenge — one that requires coordinated approaches and collective solutions across governments, enforcement authorities, and industry.”

Tatsuya Otsuka, Deputy Senior Director of International Affairs of Content Overseas Distribution Association (CODA), said, “Strengthening cross-border collaboration is essential to ensure effective anti-piracy measures. This dialogue provided a wonderful opportunity for us to share challenges and insights and continue to advance international efforts to combat piracy.”

Toshinao Yamazaki, Director of the Intellectual Property Affairs Division at Japan’s Ministry of Foreign Affairs, said sustained dialogue was key to long–term protection of creative industries: “Ultimately, protecting the creative ecosystem hinges on robust public-private collaboration and sustained international dialogue. I am confident this Copyright Enforcement Dialogue 2026 will serve as a pivotal step to further enrich the global IP ecosystem and collectively build a more prosperous and sustainable future.”

In closing remarks, Dawn Barriteau, Vice President, Content Protection, Asia Pacific, Motion Picture Association, reaffirmed MPA and ACE’s commitment to working with governments and enforcement partners across the region to strengthen copyright protection and disrupt piracy networks.

“Effective copyright enforcement is not just about protecting content — it is about protecting jobs, investment, and the long-term health of the creative industries. Today’s dialogue demonstrates how industry, governments, and law enforcement can work together to address piracy with practical, coordinated solutions.” Barriteau added that continued regional cooperation is essential as piracy networks become increasingly sophisticated and transnational: “No single stakeholder can address digital piracy alone. Meaningful progress depends on sustained public–private collaboration, information–sharing, and strong policy frameworks that keep pace with technological change.”

The Copyright Enforcement Dialogue: Taipei 2026, held in the lead-up to World Intellectual Property Day, builds on MPA’s longstanding collaboration with regional stakeholders and reflects a continued focus on practical enforcement solutions, policy dialogue, and capacity building to support Asia Pacific’s creative economy.

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SOURCE Motion Picture Association (MPA) Asia Pacific

Technology

Form.io Launches Enterprise-Grade Toolset for Governed Agentic Coding

Published

10 minutes ago

April 22, 2026

New MCP Server, Skills, Agentic Coding Plugin, and Universal Agent Gateway (UAG) keep AI-generated applications on the rails for enterprise development teams.

DALLAS, April 22, 2026 /PRNewswire/ — Form.io, the enterprise data platform trusted by regulated industries and government agencies worldwide, today announced the introduction of its Model Context Protocol (MCP) Server, Skills, and Agentic Coding Plugin, adding to the existing Universal Agent Gateway (UAG). Together, this comprehensive purpose-built toolset brings schema-governed infrastructure to agentic coding environments. The release equips enterprise development teams with the tools to harness AI coding agents like Claude Code, Cursor, and Windsurf, while maintaining the architectural consistency, compliance posture, and data governance required by regulated organizations.

As agentic coding accelerates across the enterprise, organizations are discovering that velocity without standardization creates technical debt at an unprecedented pace. Applications generated across independent teams can diverge in architecture, data handling, and compliance posture — creating fragmentation at scale and introducing the need for additional resources and controls to manage the process. This ultimately undermines the efficiency gains of new agentic coding processes.

“Labor used to be the pain point for enterprises. Now it’s chaos”, said Heather Hornor, COO of Form.io. “Five teams solving the same problem, five different ways, without any standardization, because each AI agent made a different decision, is a problem. This problem isn’t new, but it’s surfacing faster and more disruptively than ever before. Thankfully, it’s solvable at the infrastructure layer – where systems can be governed, monitored, and audited continuously over time. Form.io provides that layer, from development through runtime. And we’re the only company delivering it inside the customer’s own self-hosted development and runtime environments.”

The Toolset

MCP Server: Connects to the customer’s self-hosted Form.io deployment. AI coding agents receive governed access to read, create, and scaffold the full data layer — forms, resources, actions, APIs — without data leaving the enterprise security boundary.Skills: Platform specific guidance that teaches AI agents how to build applications leveraging Form.io — applying standardized compliance-ready data patterns by default instead of improvising per project.Agentic Coding Plugin: Integrates Form.io’s MCP Server and Skills directly into the developer’s coding environment, enabling AI agents to automatically trigger tools and apply standardized patterns based on prompt context. Coordinates interactions between MCP tools and Skills so complex, form-based applications can be built entirely within the agentic coding interface.

“This is the logical extension of the JSON-based, open-source platform we’ve been building for more than a decade,” said Travis Tidwell, CTO and Co-founder of Form.io. “The same open architecture that made Form.io extensible for human developers makes it the natural foundation for agentic development processes.”

The new build-time toolset operates independently from Form.io’s Universal Agent Gateway (UAG), the company’s runtime governance layer for production agentic workflows. Together, they provide enterprises with governance and auditability across the full lifecycle of agentic coded software — from the first prompt in a developer’s Agentic Coding Plugin to the production workflows running in regulated environments.

For organizations adopting governed agentic coding, the Form.io MCP Server, Skills, Agentic Coding Plugin, and UAG are part of Form.io’s enterprise-grade agentic coding toolset. Explore the full toolset at https://form.io/ai/

For agentic workflows in production, visit the Universal Agent Gateway at https://form.io/uag/

Enterprises can learn more, request a demo, or get started at form.io

About Form.io: Form.io is the enterprise application infrastructure platform where a single JSON schema governs everything a modern application needs — including data collection UIs, validation rules, workflow actions, data models, and auto-generated APIs with RBAC.

One schema. One source of truth. One governance layer. That’s a form.

Form.io’s self-hosted platform serves regulated industries and government agencies requiring architectural consistency, data sovereignty, and formal compliance — including central banking groups across the US, EU, and Australia, global government agencies, and leading organizations in healthcare, financial services, and insurance.

Headquartered in Dallas, Texas. Visit form.io.

For press inquiries and additional information, please contact: media@form.io

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SOURCE Form.io LLC