Technology
Hello Group Inc. Announces Unaudited Financial Results for the Second Quarter of 2024
Published
2 years agoon
By
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
Ended June 30
2023
2024
2024
2023
2024
2024
RMB
RMB
US$
RMB
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
59
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
362,394,762
377,471,487
368,522,705
368,522,705
Diluted
409,201,815
377,903,589
377,903,589
409,151,850
383,528,002
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
Ended June 30
2023
2024
2024
2023
2024
2024
RMB
RMB
US$
RMB
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
June 30
2023
2024
2024
RMB
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
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
Ended June 30
2023
2024
2024
2023
2024
2024
RMB
RMB
US$
RMB
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
1,279
176
2,558
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)
80
11
Provision of loss on receivable and other assets
1,022
145
20
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
–
–
–
55
–
–
Rental deposits
951
–
–
951
(802)
(110)
Deferred tax assets
17
(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
41
1,685
683
94
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
16
2
–
19
13
2
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)
1.
Reconciliation of Non-GAAP cost and operating expenses, income from operations, and net income to comparable GAAP measures.
Three months
Three months
Three months
Ended June 30, 2023
Ended June 30, 2024
Ended June 30, 2024
GAAP
Share-based
compensation
Non-GAAP
GAAP
Share-based
compensation
Non-GAAP
GAAP
Share-based
compensation
Non-GAAP
RMB
RMB
RMB
RMB
RMB
RMB
US$
US$
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)
1.
Reconciliation of Non-GAAP cost and operating expenses, income from operations, and net income to comparable GAAP measures-continued.
First half year
First half year
First half year
Ended June 30, 2023
Ended June 30, 2024
Ended June 30, 2024
GAAP
Share-based
compensation
Non-GAAP
GAAP
Share-based
compensation
Non-GAAP
GAAP
Share-based
compensation
Non-GAAP
RMB
RMB
RMB
RMB
RMB
RMB
US$
US$
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
Total
RMB
RMB
RMB
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
1
2
8,861
1,219
Income (loss) from operations
409,436
16,417
(809)
425,044
58,488
Interest income
130,777
158
2
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
Total
RMB
RMB
RMB
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
3
–
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
Total
RMB
RMB
RMB
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
Total
RMB
RMB
RMB
RMB
US$[1]
Net revenues:
Live video service
1,443,602
145,247
–
1,588,849
219,112
Value-added service
1,329,310
170,172
–
1,499,482
206,788
Mobile marketing
31,670
5,316
–
36,986
5,101
Mobile games
2,606
–
–
2,606
359
Other services
9,459
–
304
9,763
1,347
Total net revenues
2,816,647
320,735
304
3,137,686
432,707
Cost and expenses (iii):
Cost of revenues
(1,658,335)
(160,651)
(573)
(1,819,559)
(250,929)
Research and development
(163,040)
(51,609)
–
(214,649)
(29,601)
Sales and marketing
(282,903)
(72,378)
(1,244)
(356,525)
(49,167)
General and administrative
(116,197)
(6,198)
(2,392)
(124,787)
(17,209)
Total cost and expenses
(2,220,475)
(290,836)
(4,209)
(2,515,520)
(346,906)
Other operating income, net
22,648
271
–
22,919
3,161
Income (loss) from operations
618,820
30,170
(3,905)
645,085
88,962
Interest income
114,946
358
17
115,321
15,903
Interest expense
(11,963)
–
–
(11,963)
(1,650)
Other gain or loss, net
4,565
–
–
4,565
630
Income (loss) before income tax and share of loss on equity method
investments
726,368
30,528
(3,888)
753,008
103,845
Income tax expenses
(164,541)
(1,428)
–
(165,969)
(22,888)
Income (loss) before share of loss on equity method investments
561,827
29,100
(3,888)
587,039
80,957
Share of loss on equity method investments
(19,439)
–
–
(19,439)
(2,681)
Net income (loss)
542,388
29,100
(3,888)
567,600
78,276
(iii) Share-based compensation was allocated in cost of revenues and operating expenses as follows:
Three months
Ended June 30, 2023
Momo
Tantan
QOOL
Total
Total
RMB
RMB
RMB
RMB
US$
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
8
–
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$1.00, the effective noon buying rate for June 30, 2023 as set forth in the H.10 statistical release of the
Federal Reserve Board.
Hello Group Inc.
Reconciliation of GAAP and NON-GAAP Results of Unaudited Segment Report
(All amounts in thousands, except share and per share data)
Three months
Ended June 30, 2023
Momo
Tantan
QOOL
Total
Total
RMB
RMB
RMB
RMB
US$
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
Total
RMB
RMB
RMB
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
59
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
26
28,767
3,958
Income (loss) from operations
843,386
45,044
(3,071)
885,359
121,829
Interest income
251,735
305
4
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
Total
RMB
RMB
RMB
RMB
US$
Cost of revenues
3,674
4
–
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
14
–
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
Total
RMB
RMB
RMB
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
Total
RMB
RMB
RMB
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
62
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
69
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
Total
RMB
RMB
RMB
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
5
–
14,559
2,008
General and administrative
91,450
16
–
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
Total
RMB
RMB
RMB
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.
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October 21, 2026By
Developers can chain transcription, summarisation and call tagging on one canvas, test each step and export the pipeline as code, with every step processed in Singapore
SINGAPORE, Oct. 21, 2026 /PRNewswire/ — Toku Ltd. (SGX: TKU), a Singapore-headquartered AI-powered customer experience (CX) platform, has launched Makimoto Flows (“Flows”), a visual builder within its open-source conversational AI initiative where developers assemble speech AI pipelines block by block and test each stage on a recorded call. Flows is now live at makimoto.ai.
On the Flows canvas, developers connect blocks to build a speech AI pipeline and test each step individually. The Transcribe block converts audio into text using Kawa, the Summarise block generates a topic and short summary from the transcript, and the Tags block classifies each call across seven categories, including customer sentiment. Developers can see how audio moves from transcription to analysis, and control how each stage connects and runs. Every block runs in Singapore, so audio, transcripts and the resulting analysis stay in-country.
The Chained Analysis starter template puts these blocks together in one click, and developers can adjust any block and rerun it to compare results. Each block maps to a Makimoto API endpoint, and any flow can be exported as ready-to-run Python code, so developers can take the same capabilities into their own code for applications such as call recaps and call triage.
“Developers should have control over how their voice AI works, from the models they use to the way each stage connects. That is the principle behind Makimoto. Flows puts the orchestration layer in front of them: they can build a pipeline, run a recorded call through it and see what each step produces before anything reaches their customers. Models will keep changing. The ability to compose them, and to know where they run, is what lasts,” said Thomas Laboulle, Founder and CEO at Toku.
Flows builds on the composable architecture Toku set out when it introduced Makimoto in April 2026, and takes the initiative beyond transcription. Kawa, released on schedule on 1 July 2026, established the transcription layer through a Singapore-hosted API; summarisation and tagging endpoints followed in September; Flows now lets developers compose them visually. Next, Makimoto plans to add audio preparation blocks, starting with noise filtering, giving developers more control over how recordings are processed before transcription.
By pairing open-source development with enterprise-grade deployment, Makimoto complements Toku’s existing customer experience platform and supports long-term innovation opportunities across the Group’s AI roadmap.
Developers can create a free account at makimoto.ai, open the Chained Analysis template and run a sample recording, or one of their own call recordings, through it; each account includes 1,000 free minutes. Feedback reaches the Makimoto team directly from the portal.
About Toku
Headquartered in Singapore, Toku Ltd. (SGX Catalist: TKU) is a cloud-native, AI-powered customer experience platform purpose-built for enterprises operating in complex, multi-market environments. With deep roots in the APAC region and an expanding global footprint, Toku’s modular 360° CX Platform orchestrates customer interactions across voice, chat, email and digital channels while managing regulatory, linguistic and infrastructure complexity at scale.
Built on end-to-end ownership of its technology stack, from carrier-grade connectivity to AI applications, Toku delivers enterprise-grade security, reliability and deployment flexibility in commercial cloud, private data centres and hybrid environments. Its AI capabilities include transcription, summarisation, sentiment analysis, conversation analytics and governed virtual agents, designed to integrate seamlessly with enterprise systems and customer data.
Trusted by leading enterprises and public-sector organisations, Toku helps organisations streamline operations, scale customer engagement and deliver consistent experiences in fragmented markets worldwide.
For more information about Toku, visit toku.co.
About Makimoto
Makimoto is Toku’s open-source initiative, operated through Makimoto Technology Pte Ltd, a wholly owned subsidiary of the Toku Group, dedicated to building composable conversational AI infrastructure for Asia-Pacific. Its releases include Makimoto Kawa, a Singapore-hosted transcription API; summarisation and tagging endpoints; and Makimoto Flows, a visual builder for composing speech AI pipelines. For more information about Makimoto, visit makimoto.ai.
Forward-Looking Statements
This press release contains forward-looking statements regarding Toku’s expansion plans, business strategy and planned product releases. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. Toku undertakes no obligation to update these statements to reflect subsequent events or circumstances.
Sponsor’s Statement
Toku Ltd. (the “Company”) was listed on Catalist of the Singapore Exchange Securities Trading Limited (the “Exchange”) on 22 January 2026. The initial public offering of the Company was sponsored by PrimePartners Corporate Finance Pte. Ltd. (the “Sponsor”). This press release has been reviewed by the Sponsor. It has not been examined or approved by the Exchange and the Exchange assumes no responsibility for the contents of this press release, including the correctness of any of the statements or opinions made or reports contained in this press release. The contact person for the Sponsor is Ms. Ng Shi Qing, 16 Collyer Quay, #10-00 Collyer Quay Centre, Singapore 049318, sponsorship@ppcf.com.sg.
Investor Relations Contact:
investor.relations@toku.co
Developers and Partners:
contact@makimoto.ai
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SOURCE Toku Ltd.
Technology
Conscious Spark LLC Launches Alphimiya® Neuro-Recalibration Framework Designed to Resolve C-Suite Revenue Plateaus
Published
9 minutes agoon
October 21, 2026By
New research-backed neuro-recalibration framework targets the autonomic nervous system’s threat response to managing high financial amounts, offering enterprise leaders a biological pathway to scaling.
ANTALYA, Turkey and ALBUQUERQUE, N.M., Oct. 21, 2026 /PRNewswire/ — Conscious Spark LLC, a research and advisory firm specializing in applied neuroscience for executive leadership, today announced the official launch of Alphimiya®, a proprietary C-suite neuro-recalibration framework designed to resolve corporate revenue plateaus by upgrading the biological capacity of enterprise decision-makers.
Developed to address the root causes of stalled enterprise growth, the Alphimiya® framework targets the human autonomic nervous system’s subconscious threat response to managing high financial amounts. When commercial leaders and CEOs attempt to scale past historical capital thresholds without recalibrating their stress response, the body’s natural survival mechanism triggers decision fatigue, strategic risk aversion, and systemic self-sabotage. Alphimiya® recalibrates this biological safety brake, enabling executive teams to hold, absorb, and scale larger financial volumes without physiological or operational friction.
“A corporate revenue plateau is rarely an operational or marketing failure; it is a biological safety brake embedded within executive leadership,” stated Dr. Ahmed Al-Nashi, Founder of Conscious Spark LLC. “When managing high financial amounts triggers an underlying physical stress response, the enterprise subconsciously contracts to remain in its perceived safe zone. Alphimiya® removes that biological friction, allowing C-level leaders to multiply revenue with calm, biological authority.”
The Alphimiya® framework restructures executive performance across three core operational pillars:
Sovereign Enterprise Scaling: Expands the nervous system’s tolerance for high-stakes capital, allowing leadership teams to scale revenue without experiencing executive burnout.
High-Value Deal Execution: Regulates autonomic stress responses during multi-million-dollar negotiations and volatile market entries, eliminating hesitation under pressure.
Restored Strategic Clarity: Removes chronic decision fatigue across C-suite teams, restoring mental focus and strategic presence inside and outside the boardroom.
By recalibrating the autonomic nervous system’s response to high capital exposure, Alphimiya® removes the subconscious biological brakes that lock corporate revenue at a standstill. Senior C-level executives and enterprise leadership teams seeking to evaluate their organization’s biological capacity can access the official executive briefing, case studies, and framework assessment directly at https://alphimiya.co/.
About Conscious Spark LLC
Conscious Spark LLC is a U.S.-registered firm specializing in executive education, training, and strategic performance consulting. Pioneering applied neuroscience for C-level leaders, founders, and commercial decision-makers, the firm utilizes its proprietary Alphimiya® methodology to enable leadership teams to recalibrate biological stress responses, resolve revenue ceilings, and build scalable corporations.
Media Relations Team
Conscious Spark LLC
Email: hello@consciousspark.online
Website: https://alphimiya.co/
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SOURCE Conscious Spark LLC
Technology
Daffodil Software Brings Multilingual Conversational AI to Aadhaar’s Udai Mascot
Published
10 minutes agoon
October 21, 2026By
GURUGRAM, India, Oct. 21, 2026 /PRNewswire/ — Daffodil Software showcased an AI-powered conversational experience featuring UIDAI’s Udai mascot at Aadhaar Samvaad 2026. Developed by Daffodil Software, the assistant is designed to help users access Aadhaar-related information through natural conversation, using official UIDAI as its reference knowledge base.
Daffodil Software has developed Udai, an AI-powered virtual mascot that helps users get clear, reliable answers about Aadhaar simply by talking to it. The assistant was showcased at Aadhaar Samvaad 2026, held in Kolkata on 29 September, coinciding with the 17th Aadhaar Day, where visitors watched it listen, respond, and gesture in real time in their own language.
For most people, questions about Aadhaar come up in daily life, and they usually need answers fast. Which documents do I need for an address change? How much does an update cost? How do I link Aadhaar to my bank account or mobile number? The answers exist, but finding them usually means working through long help pages and documents.
Udai is designed to answer exactly these questions in a natural conversation, without anyone having to search through long help pages.
A conversation in the user’s own language
Udai speaks and understands 11 languages: Hindi, Tamil, Bengali, Telugu, Kannada, Malayalam, Marathi, Gujarati, Punjabi, Odia, and English. A user simply asks a question. Udai listens, works out the answer, and replies in the same language, with natural speech, matching lip movements and expressive hand gestures.
What sets Udai apart is how it is built. AI avatars rely on expensive, specialised graphics hardware to bring a face to life. Udai takes a simpler route. The character is created from pre-filmed footage, and its lip movements are matched to its speech in real time using lightweight processing that runs in a web browser.
The result is a smooth experience at 24 frames per second on ordinary servers, at a fraction of the usual cost per user. For a programme that serves hundreds of millions of people, that efficiency is what turns a nationwide rollout from an ambition into a practical plan.
“Our focus with Udai was to make Aadhaar-related information easier to access through natural conversation. Combining multilingual voice interaction with official reference content allowed our team to build an experience that is practical, approachable, and useful to users,” said Yogesh Agarwal, Founder and CEO, Daffodil Software.
Answers drawn only from official sources
The assistant uses official UIDAI material as its reference knowledge base: frequently asked questions, provisions of the Aadhaar Act, and government policy documents on Aadhaar services. It covers the topics users ask about most:
Enrolment and registrationAddress and demographic updatesFees, required documents and eligibilityeKYC and Virtual IDLinking Aadhaar with bank accounts, PAN and mobile numbersmAadhaar servicesGrievance redressal
Users don’t need to phrase their questions in any particular way. Udai understands everyday language, whether a question is spoken in English, Hindi, or asked in a mix of both, and finds the most relevant official information to answer it.
Built to be accurate, respectful, and secure
When a public service speaks directly to users, trust matters as much as convenience. Udai is protected by three layers of safeguards.
Accuracy first. Udai answers only from its verified knowledge base. Responses are grounded in a curated knowledge base of official UIDAI material. If a question falls outside Aadhaar, it guides the user back rather than offering an answer it cannot stand behind.
Respectful conversations. A screening layer catches abusive or offensive language in English, Hindi, and Hinglish before it reaches the assistant. Screening is designed to identify abusive language while supporting legitimate queries
Protection against misuse. Udai cannot be talked into abandoning its role, pretending to be someone else, revealing its internal setup, or answering beyond its approved scope. These checks work almost instantly, so users experience no delay.
What comes next?
Udai is planned to roll out in two phases.
In the first phase, the mascot will be placed in Aadhaar Centres. Visitors will be able to check information and understand processes on their own, such as which documents they need for an address change. This frees centre staff to focus on their core work instead of answering the same questions again and again.
In the second phase, Udai will come to the Aadhaar website and mobile app, taking the place of the current text-based chatbot, which was also built by Daffodil.
About Daffodil Software
Daffodil Software is a software engineering and AI solutions company serving businesses across industries. Its services span software consulting, product engineering, UI/UX design, AI/ML development, quality assurance, cloud and DevOps, and maintenance. The company serves sectors including healthcare, fintech, banking, technology, and digital commerce. Its client portfolio includes organizations such as the Reserve Bank of India, Mount Sinai Hospital, Maruti, Samsung, Pramerica Insurance, and Dangote Group. Daffodil Software has also been featured in industry research and recognition by Gartner, Everest Group, Zinnov, and Frost & Sullivan. For more information, visit https://www.daffodilsw.com
Media contact
Kunwar Pal Singh
media-relations@daffodilsw.com
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Toku launches Makimoto Flows, a visual builder for speech AI pipelines, taking its open-source initiative beyond transcription
Conscious Spark LLC Launches Alphimiya® Neuro-Recalibration Framework Designed to Resolve C-Suite Revenue Plateaus
Daffodil Software Brings Multilingual Conversational AI to Aadhaar’s Udai Mascot
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