Technology
Match Group Announces Fourth Quarter and Full-Year Results
Published
1 year agoon
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Company focused on execution of Investor Day plan including harnessing product innovations, especially with AI, to create more personalized, engaging, and authentic dating experiences
DALLAS, Feb. 4, 2025 /PRNewswire/ — Match Group (NASDAQ: MTCH) today announced financial results for the fourth quarter and full-year ended December 31, 2024.
“We had a strong finish to the year and are seeing solid peak season new user trends. We met our full-year 2024 AOI margin target through disciplined financial management. We’re focused on executing the plan we laid out at Investor Day: driving innovation to spur user growth, generating strong free cash flow, and returning significant capital to shareholders. Our 2025 outlook remains unchanged since Investor Day on a FX neutral basis, though the strengthening U.S. dollar continues to put pressure on as reported results,” said Steven Bailey, Incoming CFO.
Total Company Full Year 2024 Financial Highlights
Total Revenue of $3.5 billion grew 3% year-over-year (“Y/Y”), up 6% on a foreign exchange (“FX”) neutral basis (“FXN”), driven by an 8% Y/Y increase in RPP to $19.12, partially offset by a 5% Y/Y decline in Payers to 14.9 million.Excluding Hakuna and other of our live streaming services, Total Revenue was up 5% Y/Y, up 7% Y/Y FXN.Operating Income of $823 million declined 10% Y/Y, representing an Operating Income Margin of 24%.Adjusted Operating Income of $1.3 billion was flat Y/Y, representing an Adjusted Operating Income Margin of 36%.Operating Cash Flow and Free Cash Flow were $933 million and $882 million, respectively, for the year ended December 31, 2024. We deployed 85% of our free cash flow during the year for share repurchases. The last Apple payment of 2024, which we had expected in December, was received in early January 2025.The Company repurchased $753 million of stock in the year representing 22.2 million shares. As of February 4, 2025, $1.75 billion remained available for repurchase under the current repurchase programs.Diluted shares outstanding1 were 260.0 million as of January 31, 2025, a decrease of 7%, since January 26, 2024.
Total Company Q4 2024 Financial Highlights
Total Revenue of $860 million declined 1% Y/Y, up 1% FXN, driven by a 4% Y/Y decline in Payers to 14.6 million, partially offset by a 3% Y/Y increase in RPP to $19.29.Excluding Hakuna and other of our live streaming services, Total Revenue was up 1% Y/Y, up 3% Y/Y FXN.Operating Income of $223 million declined 14% Y/Y, representing an Operating Income Margin of 26%.Adjusted Operating Income of $324 million declined 10% Y/Y, representing an Adjusted Operating Income Margin of 38%.The Company repurchased $117 million of stock in the quarter, 3.1 million shares, at an average price of $37.38 per share.
The following table summarizes total company consolidated financial results for the three months ended and the years ended December 31, 2024 and 2023.
Three Months Ended December 31,
Years Ended December 31,
(Dollars in millions, except RPP, Payers in thousands)
2024
2023
Y/Y Change
2024
2023
Y/Y Change
Total Revenue
$ 860
$ 866
(1) %
$ 3,479
$ 3,365
3 %
Direct Revenue
$ 845
$ 851
(1) %
$ 3,418
$ 3,308
3 %
Operating Income
$ 223
$ 260
(14) %
$ 823
$ 917
(10) %
Operating Income Margin
26 %
30 %
24 %
27 %
Adjusted Operating Income
$ 324
$ 362
(10) %
$ 1,252
$ 1,259
— %
Adjusted Operating Income Margin
38 %
42 %
36 %
37 %
Payers
14,607
15,186
(4) %
14,898
15,602
(5) %
RPP
$ 19.29
$ 18.67
3 %
$ 19.12
$ 17.67
8 %
A webcast of our fourth quarter 2024 results will be available at https://ir.mtch.com, along with our Executive Commentary and Supplemental Financial Materials. The webcast will begin on February 5, 2025 at 8:30 AM (ET). This press release, including the reconciliations of certain non-GAAP measures to their nearest comparable GAAP measures, is also available on that site.
Business Unit Performance
Tinder Full Year 2024 Financial Highlights
Direct Revenue of $1.9 billion grew 1% Y/Y, up 4% FXN, driven by an 8% Y/Y increase in RPP to $16.68, largely offset by a 7% Y/Y decline in Payers to 9.7 million.Operating Income of $889 million declined 7% Y/Y, representing an Operating Income Margin of 45%.Adjusted Operating Income of $1.0 billion declined 3% Y/Y, representing an Adjusted Operating Income Margin of 51%.
Tinder Q4 2024 Financial Highlights
Direct Revenue of $476 million declined 3% Y/Y, down 1% FXN, driven by a 5% decline in Payers to 9.5 million, partially offset by a 1% Y/Y increase in RPP to $16.72.Operating Income of $226 million declined 5% Y/Y, representing an Operating Income Margin of 46%.Adjusted Operating Income of $259 million declined 2% Y/Y, representing an Adjusted Operating Income Margin of 53%.
Tinder Operational Highlights
Solid Peak Season New User Trends: Dating peak season new user trends have been solid in both the U.S. and international markets.Fostering a Clean Ecosystem: Tinder plans to continue its efforts to improve its ecosystem, including expansion of its face photo requirement and the use of biometrics to validate users. Early tests have shown a reduction in interactions with bad actors, as well as improvements in users’ perception of authenticity.Improving User Outcomes: In Q1 2025, Tinder intends to test AI-curated recommendations to deliver more personalized and engaging matches and broaden the availability of the new Friends in Common feature.Bringing the Fun Back to Dating: In Q2 2025, Tinder plans to begin testing its double-dating feature for users to match with other pairs of friends, which we expect to appeal especially to women and Gen Z seeking safer, lower-pressure ways to date. Tinder also intends to test an AI-enabled discovery experience, which we expect to enhance the matching experience for Tinder users.
The following table summarizes Tinder’s financial results for the three months ended and the years ended December 31, 2024 and 2023.
Three Months Ended December 31,
Years Ended December 31,
(Dollars in millions, except RPP, Payers in thousands)
2024
2023
Y/Y Change
2024
2023
Y/Y Change
Total Revenue
$ 488
$ 506
(3) %
$ 1,991
$ 1,964
1 %
Direct Revenue
$ 476
$ 493
(3) %
$ 1,941
$ 1,918
1 %
Operating Income
$ 226
$ 238
(5) %
$ 889
$ 956
(7) %
Operating Income Margin
46 %
47 %
45 %
49 %
Adjusted Operating Income
$ 259
$ 265
(2) %
$ 1,017
$ 1,049
(3) %
Adjusted Operating Income Margin
53 %
52 %
51 %
53 %
Payers
9,491
9,968
(5) %
9,696
10,375
(7) %
RPP
$ 16.72
$ 16.49
1 %
$ 16.68
$ 15.40
8 %
Hinge Full Year 2024 Financial Highlights
Direct Revenue of $550 million grew 39% Y/Y, driven by a 23% Y/Y increase in Payers to 1.5 million and a 13% Y/Y increase in RPP to $29.94.Operating Income of $121 million increased 64% Y/Y, representing an Operating Income Margin of 22%.Adjusted Operating Income of $166 million, increased 55% Y/Y, representing an Adjusted Operating Income Margin of 30%.
Hinge Q4 2024 Financial Highlights
Direct Revenue of $148 million grew 27% Y/Y, driven by a 19% Y/Y increase in Payers to 1.6 million and a 7% Y/Y increase in RPP to $30.42.Operating Income of $31 million increased 14% Y/Y, representing an Operating Income Margin of 21%.Adjusted Operating Income of $44 million increased 10% Y/Y, representing an Adjusted Operating Income Margin of 30%.
Hinge Operational Highlights
New Campaign Helping Drive U.S. New User Outperformance: Hinge’s new U.S. marketing campaign, “It’s Funny We Met on Hinge,” has helped drive strong peak season new user trends since its introduction, with particular strength among women.Upcoming Global Rollout of New Algorithm: Hinge’s revamped recommendation algorithm aims to improve match quality by leveraging nuanced user data. Initial tests showed double-digit improvements in new matches per user. A global launch is planned for March 2025.AI-Powered User Coaching: Prompt Feedback, which launched in January 2025, has improved user profiles and prompt quality. This feature, as well as Photo Finder, are expected to be included in the onboarding process in H1.Additional International Expansion: Hinge plans to expand into Mexico and Brazil in the second half of 2025.
The following table summarizes Hinge’s financial results for the three months ended and the years ended December 31, 2024 and 2023.
Three Months Ended December 31,
Years Ended December 31,
(Dollars in millions, except RPP, Payers in thousands)
2024
2023
Y/Y Change
2024
2023
Y/Y Change
Total Revenue
$ 148
$ 116
27 %
$ 550
$ 396
39 %
Direct Revenue
$ 148
$ 116
27 %
$ 550
$ 396
39 %
Operating Income
$ 31
$ 27
14 %
$ 121
$ 74
64 %
Operating Income Margin
21 %
23 %
22 %
19 %
Adjusted Operating Income
$ 44
$ 40
10 %
$ 166
$ 108
55 %
Adjusted Operating Income Margin
30 %
34 %
30 %
27 %
Payers
1,619
1,362
19 %
1,532
1,242
23 %
RPP
$ 30.42
$ 28.42
7 %
$ 29.94
$ 26.61
13 %
Evergreen & Emerging (“E&E”) Full Year 2024 Financial Highlights
Direct Revenue of $643 million declined 7% Y/Y driven by a 13% Y/Y decline in Payers to 2.7 million, partially offset by a 7% Y/Y increase in RPP to $20.10.Excluding live streaming services, which we shut down in mid-2024, Direct Revenue was down 3% Y/Y, down 3% Y/Y FXN.Operating Income of $66 million decreased 20% Y/Y, representing an Operating Income Margin of 10%.Adjusted Operating Income of $170 million increased 4% Y/Y, representing an Adjusted Operating Income Margin of 26%.
E&E Q4 2024 Financial Highlights
Direct Revenue of $155 million, declined 8% Y/Y, driven by a 14% Y/Y decrease in Payers to 2.5 million, partially offset by a 7% Y/Y increase in RPP to $20.80.Excluding live streaming services, Direct Revenue was down 3% Y/Y, down 3% Y/Y FXN.Operating Income of $26 million increased 107% Y/Y, representing an Operating Income Margin of 16%.Adjusted Operating Income of $48 million increased 29% Y/Y, representing an Adjusted Operating Income Margin of 31%.
E&E Operational Highlights
Platform Consolidation and Efficiencies: Salams, Plenty of Fish, and Meetic are on track to migrate to the shared tech platform by 2025 year-end, which is expected to continue unlocking efficiencies and operational benefits across E&E brands.Growth Inflection Point: Emerging brands’ revenue growth is expected to increasingly offset Evergreen brands’ revenue declines throughout 2025.Driving Engagement and Innovation: Social mode, first introduced on Yuzu, is now being tested on Chispa and BLK. The feature is showing higher engagement among women and offering us new insights into social features in dating apps.
The following table summarizes Evergreen and Emerging’s financial results for the three months ended and the years ended December 31, 2024 and 2023.
Three Months Ended December 31,
Years Ended December 31,
(Dollars in millions, except RPP, Payers in thousands)
2024
2023
Y/Y Change
2024
2023
Y/Y Change
Total Revenue
$ 158
$ 171
(7) %
$ 654
$ 701
(7) %
Direct Revenue
$ 155
$ 168
(8) %
$ 643
$ 691
(7) %
Operating Income
$ 26
$ 13
107 %
$ 66
$ 82
(20) %
Operating Income Margin
16 %
7 %
10 %
12 %
Adjusted Operating Income
$ 48
$ 37
29 %
$ 170
$ 164
4 %
Adjusted Operating Income Margin
31 %
22 %
26 %
23 %
Payers
2,485
2,887
(14) %
2,666
3,066
(13) %
RPP
$ 20.80
$ 19.38
7 %
$ 20.10
$ 18.79
7 %
Match Group Asia (“MG Asia”) Full Year 2024 Financial Highlights
Direct Revenue of $284 million declined 6% Y/Y, up 2% Y/Y FXN, driven by a 14% Y/Y decline in RPP to $23.56, partially offset by a 9% Y/Y increase in Payers to 1.0 million.Excluding Hakuna, which we shut down in mid-2024, Direct Revenue was down 3% Y/Y, up 6% Y/Y FXN.Operating Loss of $32 million increased 273% Y/Y, representing an Operating Loss Margin of 11%.Adjusted Operating Income of $61 million declined 2% Y/Y, representing an Adjusted Operating Income Margin of 21%.
MG Asia Q4 2024 Financial Highlights
Direct Revenue of $67 million declined 9% Y/Y, down 5% Y/Y FXN, driven by a 13% Y/Y decline in RPP to $21.95, partially offset by a 4% Y/Y increase in Payers to 1.0 million.Excluding Hakuna, Direct Revenue was down 1% Y/Y, up 4% Y/Y FXN.Operating Loss of $0.4 million declined 94% Y/Y, representing an Operating Loss Margin of 1%.Adjusted Operating Income of $16 million increased 24% Y/Y, representing an Adjusted Operating Income Margin of 24%.
MG Asia Operational Highlights
Azar Market Expansion: Azar’s 2025 strategy focuses on expanding in European markets and the U.S., given that its 1:1 video chat experience is particularly resonating with Gen Z users looking for a fun, lower pressure way to connect.Pairs’ Growth Strategy: Pairs is focused on driving growth through product-focused marketing, boosting Payers and RPP through monetization initiatives, and expanding the app in Asia, with a planned Korea launch in Q1 2025.
The following table summarizes MG Asia’s financial results for the three months ended and the years ended December 31, 2024 and 2023.
Three Months Ended December 31,
Years Ended December 31,
(Dollars in millions, except RPP, Payers in thousands)
2024
2023
Y/Y Change
2024
2023
Y/Y Change
Total Revenue
$ 67
$ 74
(10) %
$ 285
$ 303
(6) %
Direct Revenue
$ 67
$ 74
(9) %
$ 284
$ 303
(6) %
Operating Loss
$ —
$ (7)
(94) %
$ (32)
$ (9)
273 %
Operating Loss Margin
(1) %
(9) %
(11) %
(3) %
Adjusted Operating Income
$ 16
$ 13
24 %
$ 61
$ 62
(2) %
Adjusted Operating Income Margin
24 %
17 %
21 %
20 %
Payers
1,012
969
4 %
1,004
919
9 %
RPP
$ 21.95
$ 25.32
(13) %
$ 23.56
$ 27.50
(14) %
Dividend Declaration
Match Group’s Board of Directors has declared a cash dividend of $0.19 per share of the company’s common stock. The dividend is payable on April 17, 2025 to stockholders of record as of April 3, 2025.
Financial Outlook
For Q1 2025 and Full year 2025, Match Group expects:
Q1 2025
Total Revenue of $820 to $830 million, down 3% to 5% Y/Y.On an FXN basis and excluding Hakuna and other of our live streaming services, Total Revenue to be flat to up 1% Y/Y.FX to be a three-point Y/Y headwind and the exit of Hakuna and other of our live streaming services to be just under a two-point Y/Y headwind. The extra day in Q1’24 because of leap year is an additional one-point Y/Y headwind.Adjusted Operating Income of $260 to $265 million, down 5% to 7% Y/Y.Adjusted Operating Income Margin of 32% at the mid-point of the ranges.
Full Year 2025
Total Revenue of $3,375 to $3,500 million, down 3% to up 1% Y/Y.On an FXN basis and excluding Hakuna and other of our live streaming services, Total Revenue to be flat to up 4% Y/Y.FX to be a slightly more than two-point Y/Y headwind and the exit of Hakuna and other of our live streaming services to be an additional one-point Y/Y headwind.Adjusted Operating Income of $1,232 to $1,278 million, or roughly flat AOI Y/Y at the midpoint of the range.Adjusted Operating Income Margin of at least 36.5%.Stock-based compensation expense of $305 to $315 million.Capital expenditures of $45 to $55 million.FCF of $1,000 million to $1,030 million, representing ~81% FCF conversion of AOI at the mid-point of the ranges.Effective income tax rate in the low-20%s.Use of at least 75% of FCF for share repurchases and to target returning at least 100% of FCF to shareholders through dividends and share repurchases.Reduction of diluted shares outstanding by 5% to 7% over the course of 2025.
Financial Results
Consolidated Operating Costs and Expenses
Three Months Ended December 31,
(Dollars in thousands)
2024
% of
Revenue
2023
% of
Revenue
Y/Y Change
Cost of revenue
$ 236,414
27 %
$ 208,112
24 %
14 %
Selling and marketing expense
145,515
17 %
158,898
18 %
(8) %
General and administrative expense
114,371
13 %
108,205
12 %
6 %
Product development expense
109,138
13 %
97,571
11 %
12 %
Depreciation
20,584
2 %
19,380
2 %
6 %
Impairment and amortization of intangibles
10,766
1 %
13,810
2 %
(22) %
Total operating costs and expenses
$ 636,788
74 %
$ 605,976
70 %
5 %
Liquidity and Capital Resources
During the year ended December 31, 2024, we generated operating cash flow of $933 million and Free Cash Flow of $882 million.
During the quarter ended December 31, 2024, we repurchased 3.1 million shares of our common stock for $117 million on a trade date basis at an average price of $37.38. For the full year 2024, we repurchased 22.2 million shares of our common stock for $753 million at an average price of $33.86.
On December 10, 2024, our board of directors authorized a new repurchase program of up to $1.5 billion in aggregate value of shares of Match Group common stock which will take effect when the $247 million available under the previous share repurchase program authorization is exhausted. In total, we have $1.75 billion in aggregate value of shares of Match Group stock available under our share repurchase programs as of February 4, 2025.
As of December 31, 2024, we had $971 million in cash, cash equivalents, and short-term investments and $3.9 billion of long-term debt, $3.5 billion of which is fixed rate debt, including $1.2 billion of Exchangeable Senior Notes. Our $500 million revolving credit facility was undrawn as of December 31, 2024. Match Group’s trailing twelve-month leverage[2] as of December 31, 2024 was 3.1x on a gross basis and 2.3x on a net basis.
On January 21, 2025, we paid a dividend of $0.19 per share to holders of record on January 6, 2025. The total cash payout was $48 million.
On January 21, 2025, we repaid the outstanding $425 million balance on our Term Loan with cash on hand.
GAAP Financial Statements
Consolidated Statement of Operations
Three Months Ended December 31,
Years Ended December 31,
2024
2023
2024
2023
(In thousands, except per share data)
Revenue
$ 860,176
$ 866,228
$ 3,479,373
$ 3,364,504
Operating costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)
236,414
208,112
991,273
954,014
Selling and marketing expense
145,515
158,898
622,100
586,262
General and administrative expense
114,371
108,205
438,839
413,609
Product development expense
109,138
97,571
442,175
384,185
Depreciation
20,584
19,380
87,499
61,807
Impairments and amortization of intangibles
10,766
13,810
74,175
47,731
Total operating costs and expenses
636,788
605,976
2,656,061
2,447,608
Operating income
223,388
260,252
823,312
916,896
Interest expense
(39,560)
(40,414)
(160,071)
(159,887)
Other income, net
13,716
5,043
40,815
19,772
Earnings before income taxes
197,544
224,881
704,056
776,781
Income tax (provision) benefit
(39,266)
4,799
(152,743)
(125,309)
Net earnings
158,278
229,680
551,313
651,472
Net loss (earnings) attributable to noncontrolling interests
18
(22)
(37)
67
Net earnings attributable to Match Group, Inc. shareholders
$ 158,296
$ 229,658
$ 551,276
$ 651,539
Net earnings per share attributable to Match Group, Inc. shareholders:
Basic
$ 0.63
$ 0.85
$ 2.12
$ 2.36
Diluted
$ 0.59
$ 0.81
$ 2.02
$ 2.26
Basic shares outstanding
251,715
270,576
260,299
275,773
Diluted shares outstanding
272,549
288,205
279,063
293,284
Stock-based compensation expense by function:
Cost of revenue
$ 1,748
$ 1,423
$ 7,015
$ 5,934
Selling and marketing expense
3,225
2,885
12,620
9,730
General and administrative expense
27,686
29,443
103,554
98,510
Product development expense
36,547
34,403
144,192
117,925
Total stock-based compensation expense
$ 69,206
$ 68,154
$ 267,381
$ 232,099
Consolidated Balance Sheet
December 31, 2024
December 31, 2023
(In thousands)
ASSETS
Cash and cash equivalents
$ 965,993
$ 862,440
Short-term investments
4,734
6,200
Accounts receivable, net
324,963
298,648
Other current assets
102,072
104,023
Total current assets
1,397,762
1,271,311
Property and equipment, net
158,189
194,525
Goodwill
2,310,730
2,342,612
Intangible assets, net
215,448
305,746
Deferred income taxes
262,557
259,803
Other non-current assets
121,085
133,889
TOTAL ASSETS
$ 4,465,771
$ 4,507,886
LIABILITIES AND SHAREHOLDERS’ EQUITY
LIABILITIES
Accounts payable
$ 18,262
$ 13,187
Deferred revenue
166,142
211,282
Accrued expenses and other current liabilities
365,057
307,299
Total current liabilities
549,461
531,768
Long-term debt, net
3,848,983
3,842,242
Income taxes payable
33,332
24,860
Deferred income taxes
11,770
26,302
Other long-term liabilities
85,882
101,787
Commitments and contingencies
SHAREHOLDERS’ EQUITY
Common stock
294
290
Additional paid-in capital
8,756,482
8,529,200
Retained deficit
(6,579,753)
(7,131,029)
Accumulated other comprehensive loss
(449,611)
(385,471)
Treasury stock
(1,791,071)
(1,032,538)
Total Match Group, Inc. shareholders’ equity
(63,659)
(19,548)
Noncontrolling interests
2
475
Total shareholders’ equity
(63,657)
(19,073)
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY
$ 4,465,771
$ 4,507,886
Consolidated Statement of Cash Flows
Years Ended December 31,
2024
2023
(In thousands)
Cash flows from operating activities:
Net earnings
$ 551,313
$ 651,472
Adjustments to reconcile net earnings to net cash provided by operating activities:
Stock-based compensation expense
267,381
232,099
Depreciation
87,499
61,807
Impairments and amortization of intangibles
74,175
47,731
Deferred income taxes
(14,952)
26,612
Other adjustments, net
2,019
9,932
Changes in assets and liabilities
Accounts receivable
(29,788)
(107,412)
Other assets
25,337
25,055
Accounts payable and other liabilities
(9,395)
(5,961)
Income taxes payable and receivable
22,213
(3,337)
Deferred revenue
(43,083)
(41,207)
Net cash provided by operating activities
932,719
896,791
Cash flows from investing activities:
Capital expenditures
(50,578)
(67,412)
Other, net
(7,960)
(9,169)
Net cash used in investing activities
(58,538)
(76,581)
Cash flows from financing activities:
Proceeds from issuance of common stock pursuant to stock-based awards
13,584
19,916
Withholding taxes paid on behalf of employees on net settled stock-based awards
(11,441)
(5,933)
Purchase of treasury stock
(752,674)
(546,198)
Purchase of noncontrolling interests
(1,291)
(1,872)
Other, net
(6,482)
19
Net cash used in financing activities
(758,304)
(534,068)
Total cash provided
115,877
286,142
Effect of exchange rate changes on cash, cash equivalents, and restricted cash
(12,324)
3,782
Net increase in cash, cash equivalents, and restricted cash
103,553
289,924
Cash, cash equivalents, and restricted cash at beginning of period
862,440
572,516
Cash, cash equivalents, and restricted cash at end of period
$ 965,993
$ 862,440
Reconciliations of GAAP to Non-GAAP Measures
Reconciliation of Operating Income (Loss) to Adjusted Operating Income
Three Months Ended December 31, 2024
Tinder
Hinge
E&E
MG Asia
Corporate &
unallocated
costs
Eliminations
Total Match Group
(Dollars in thousands)
Operating Income (Loss)
$ 226,346
$ 30,556
$ 26,021
$ (418)
$ (59,117)
$ —
$ 223,388
Stock-based compensation expense
23,584
12,695
12,944
5,135
14,848
—
69,206
Depreciation
9,235
621
5,822
3,877
1,029
—
20,584
Amortization of intangibles
—
—
3,471
7,295
—
—
10,766
Adjusted Operating Income (Loss)
$ 259,165
$ 43,872
$ 48,258
$ 15,889
$ (43,240)
$ —
$ 323,944
Revenue
$ 488,341
$ 147,688
$ 158,094
$ 66,754
$ —
$ (701)
$ 860,176
Operating Income (Loss) Margin
46 %
21 %
16 %
(1) %
NA
NA
26 %
Adjusted Operating Income Margin
53 %
30 %
31 %
24 %
NA
NA
38 %
Three Months Ended December 31, 2023
Tinder
Hinge
E&E
MG Asia
Corporate &
unallocated
costs
Eliminations
Total Match Group
(Dollars in thousands)
Operating Income (Loss)
$ 238,476
$ 26,855
$ 12,599
$ (6,539)
$ (11,139)
$ —
$ 260,252
Stock-based compensation expense
17,865
12,440
14,055
7,280
16,514
—
68,154
Depreciation
8,750
521
5,238
3,763
1,108
—
19,380
Amortization of intangibles
—
—
5,457
8,353
—
—
13,810
Adjusted Operating Income
$ 265,091
$ 39,816
$ 37,349
$ 12,857
$ 6,483
$ —
$ 361,596
Revenue
$ 505,721
$ 116,136
$ 170,567
$ 73,804
$ —
$ —
$ 866,228
Operating Income (Loss) Margin
47 %
23 %
7 %
(9) %
NA
NA
30 %
Adjusted Operating Income Margin
52 %
34 %
22 %
17 %
NA
NA
42 %
Reconciliation of Operating Income (Loss) to Adjusted Operating Income (Continued)
Year Ended December 31, 2024
Tinder
Hinge
E&E
MG Asia
Corporate &
unallocated
costs
Eliminations
Total Match Group
(Dollars in thousands)
Operating Income (Loss)
$ 889,222
$ 121,482
$ 66,088
$ (32,345)
$ (221,135)
$ —
$ 823,312
Stock-based compensation expense
90,141
42,673
54,922
25,818
53,827
—
267,381
Depreciation
37,660
2,323
21,732
20,834
4,950
—
87,499
Impairments and amortization of intangibles
—
—
27,676
46,499
—
—
74,175
Adjusted Operating Income (Loss)
$ 1,017,023
$ 166,478
$ 170,418
$ 60,806
$ (162,358)
$ —
$ 1,252,367
Revenue
$ 1,991,137
$ 550,435
$ 654,168
$ 284,522
$ —
$ (889)
$ 3,479,373
Operating Income (Loss) Margin
45 %
22 %
10 %
(11) %
NA
NA
24 %
Adjusted Operating Income Margin
51 %
30 %
26 %
21 %
NA
NA
36 %
Year Ended December 31, 2023
Tinder
Hinge
E&E
MG Asia
Corporate &
unallocated
costs
Eliminations
Total Match Group
(Dollars in thousands)
Operating Income (Loss)
$ 955,519
$ 74,261
$ 82,460
$ (8,675)
$ (186,669)
$ —
$ 916,896
Stock-based compensation expense
68,644
31,459
50,268
23,399
58,329
—
232,099
Depreciation
25,197
1,926
18,732
11,671
4,281
—
61,807
Impairments and amortization of intangibles
—
—
12,336
35,395
—
—
47,731
Adjusted Operating Income (Loss)
$ 1,049,360
$ 107,646
$ 163,796
$ 61,790
$ (124,059)
$ —
$ 1,258,533
Revenue
$ 1,963,610
$ 396,485
$ 700,925
$ 303,484
$ —
$ —
$ 3,364,504
Operating Income (Loss) Margin
49 %
19 %
12 %
(3) %
NA
NA
27 %
Adjusted Operating Income Margin
53 %
27 %
23 %
20 %
NA
NA
37 %
Reconciliation of Operating Income to Adjusted Operating Income used in Leverage Ratios
Twelve months ended
12/31/2024
(In thousands)
Operating Income
823,312
Stock-based compensation expense
267,381
Depreciation
87,499
Impairments and amortization of intangibles
74,175
Adjusted Operating Income
$ 1,252,367
Reconciliation of Operating Cash Flow to Free Cash Flow
Years Ended December 31,
2024
2023
(In thousands)
Net cash provided by operating activities
$ 932,719
$ 896,791
Capital expenditures
(50,578)
(67,412)
Free Cash Flow
$ 882,141
$ 829,379
Reconciliation of Forecasted Operating Income to Forecasted Adjusted Operating Income
Three Months Ended
March 31, 2025
Year Ended
December 31, 2025
(In millions)
Operating Income
$155 to $160
$802 to $828
Stock-based compensation expense
70
305 to 315
Depreciation and impairments and amortization of intangibles
35
125 to 135
Adjusted Operating Income
$260 to $265
$1,232 to $1,278
Revenue
$820 to $830
$3,375 to $3,500
Operating Income Margin (at the mid-point of the ranges)
19 %
24 %
Adjusted Operating Income Margin (at the mid-point of the ranges)
32 %
36.5 %
Reconciliation of Forecasted Cash Provided by Operating Activities to Forecasted Free Cash Flow
Year Ended
December 31, 2025
(In millions)
Net cash provided by operating activities
$1,055 to $1,075
Capital expenditures
45-55
Free Cash Flow
$1,000 to $1,030
Reconciliation of GAAP Revenue to Non-GAAP Revenue, Excluding Foreign Exchange Effects
Three Months Ended December 31,
Years Ended December 31,
2024
$ Change
% Change
2023
2024
$ Change
% Change
2023
(Dollars in millions, rounding differences may occur)
Total Revenue, as reported
$ 860.2
$ (6.1)
(1) %
$ 866.2
$ 3,479.4
$ 114.9
3 %
$ 3,364.5
Foreign exchange effects
14.8
73.8
Total Revenue, excluding foreign
exchange effects
$ 875.0
$ 8.8
1 %
$ 866.2
$ 3,553.1
$ 188.6
6 %
$ 3,364.5
Total Revenue, excluding Hakuna and
other of our live streaming services,
as reported
$ 860.1
$ 8.6
1 %
$ 851.5
$ 3,453.2
$ 154.8
5 %
$ 3,298.5
Foreign exchange effects
14.9
72.7
Total Revenue, excluding Hakuna and
other of our live streaming services,
excluding foreign exchange effects
$ 874.9
$ 23.4
3 %
$ 851.5
$ 3,525.9
$ 227.5
7 %
$ 3,298.5
Direct Revenue, as reported
$ 845.4
$ (5.4)
(1) %
$ 850.8
$ 3,418.0
$ 109.8
3 %
$ 3,308.1
Foreign exchange effects
14.5
72.8
Direct Revenue, excluding foreign
exchange effects
$ 859.9
$ 9.1
1 %
$ 850.8
$ 3,490.8
$ 182.7
6 %
$ 3,308.1
Tinder Direct Revenue, as reported
$ 476.0
$ (17.2)
(3) %
$ 493.2
$ 1,940.6
$ 23.0
1 %
$ 1,917.6
Foreign exchange effects
11.0
45.6
Tinder Direct Revenue, excluding
foreign exchange effects
$ 487.0
$ (6.3)
(1) %
$ 493.2
$ 1,986.2
$ 68.6
4 %
$ 1,917.6
Hinge Direct Revenue, as reported
$ 147.7
$ 31.6
27 %
$ 116.1
$ 550.4
$ 154.0
39 %
$ 396.5
Foreign exchange effects
(0.1)
(0.4)
Hinge Direct Revenue, excluding
foreign exchange effects
$ 147.6
$ 31.5
27 %
$ 116.1
$ 550.1
$ 153.6
39 %
$ 396.5
E&E Direct Revenue, as reported
$ 155.1
$ (12.8)
(8) %
$ 167.8
$ 643.0
$ (48.4)
(7) %
$ 691.4
Foreign exchange effects
0.3
1.5
E&E Direct Revenue, excluding
foreign exchange effects
$ 155.4
$ (12.4)
(7) %
$ 167.8
$ 644.5
$ (47.0)
(7) %
$ 691.4
E&E, excluding live streaming, Direct
Revenue, as reported
$ 155.0
$ (4.4)
(3) %
$ 159.4
$ 633.2
$ (19.5)
(3) %
$ 652.7
Foreign exchange effects
0.3
1.5
E&E, excluding live streaming, Direct
Revenue, excluding foreign
exchange effects
$ 155.3
$ (4.1)
(3) %
$ 159.4
$ 634.6
$ (18.1)
(3) %
$ 652.7
MG Asia Direct Revenue, as reported
$ 66.6
$ (6.9)
(9) %
$ 73.6
$ 283.9
$ (18.7)
(6) %
$ 302.6
Foreign exchange effects
3.3
26.2
MG Asia Direct Revenue, excluding
foreign exchange effects
$ 69.9
$ (3.6)
(5) %
$ 73.6
$ 310.1
$ 7.5
2 %
$ 302.6
MG Asia, excluding Hakuna, Direct
Revenue, as reported
$ 66.6
$ (0.7)
(1) %
$ 67.3
$ 267.6
$ (7.7)
(3) %
$ 275.3
Foreign exchange effects
3.3
25.1
MG Asia, excluding Hakuna, Direct
Revenue, excluding foreign
exchange effects
$ 69.9
$ 2.6
4 %
$ 67.3
$ 292.7
$ 17.4
6 %
$ 275.3
Dilutive Securities
Match Group has various tranches of dilutive securities. The table below details these securities and their potentially dilutive impact (shares in millions; rounding differences may occur).
Average Exercise
Price
1/31/2025
Share Price
$35.70
Absolute Shares
251.6
Equity Awards
Options
$17.98
0.6
RSUs and subsidiary denominated equity awards
7.9
Total Dilution – Equity Awards
8.5
Outstanding Warrants
Warrants expiring on September 15, 2026 (6.6 million outstanding)
$133.98
—
Warrants expiring on April 15, 2030 (6.9 million outstanding)
$134.04
—
Total Dilution – Outstanding Warrants
—
Total Dilution
8.5
% Dilution
3.3 %
Total Diluted Shares Outstanding
260.0
______________________
The dilutive securities presentation above is calculated using the methods and assumptions described below; these are different from GAAP dilution, which is calculated based on the treasury stock method.
Options — The table above assumes the options are settled net of the option exercise price and employee withholding taxes, as is our practice effective January 2025, and the dilutive effect is presented as the net shares that would be issued upon exercise. Withholding taxes paid by the Company on behalf of the employees upon exercise is estimated to be $20.7 million, assuming the stock price in the table above and a 50% estimated employee withholding tax rate.
RSUs and subsidiary denominated equity awards — The table above assumes RSUs are settled net of employee withholding taxes, as is our practice effective January 2025, and the dilutive effect is presented as the net number of shares that would be issued upon vesting. Withholding taxes paid by the Company on behalf of the employees upon vesting is estimated to be $281.8 million, assuming the stock price in the table above and a 50% withholding rate.
All performance-based and market-based awards reflect the expected shares that will vest based on current performance or market estimates. The table assumes no change in the fair value estimate of the subsidiary denominated equity awards from the values used for GAAP purposes at December 31, 2024.
Exchangeable Senior Notes — The Company has two series of Exchangeable Senior Notes outstanding. In the event of an exchange, each series of Exchangeable Senior Notes can be settled in cash, shares, or a combination of cash and shares. At the time of each Exchangeable Senior Notes issuance, the Company purchased call options with a strike price equal to the exchange price of each series of Exchangeable Senior Notes (“Note Hedge”), which can be used to offset the dilution of each series of the Exchangeable Senior Notes. No dilution is reflected in the table above for any of the Exchangeable Senior Notes because it is the Company’s intention to settle the Exchangeable Senior Notes with cash equal to the face amount of the notes; any shares issued would be offset by shares received upon exercise of the Note Hedge.
Warrants — At the time of the issuance of each series of Exchangeable Senior Notes, the Company also sold warrants for the number of shares with the strike prices reflected in the table above. The cash generated from the exercise of the warrants is assumed to be used to repurchase Match Group shares and the resulting net dilution, if any, is reflected in the table above.
Non-GAAP Financial Measures
Match Group reports Adjusted Operating Income, Adjusted Operating Income Margin, Free Cash Flow, and Revenue Excluding Foreign Exchange Effects, all of which are supplemental measures to U.S. generally accepted accounting principles (“GAAP”). The Adjusted Operating Income, Adjusted Operating Income Margin, and Free Cash Flow measures are among the primary metrics by which we evaluate the performance of our business, on which our internal budget is based and by which management is compensated. Revenue Excluding Foreign Exchange Effects provides a comparable framework for assessing the performance of our business without the effect of exchange rate differences when compared to prior periods. We believe that investors should have access to the same set of tools that we use in analyzing our results. These non-GAAP measures should be considered in addition to results prepared in accordance with GAAP but should not be considered a substitute for or superior to GAAP results. Match Group endeavors to compensate for the limitations of the non-GAAP measures presented by providing the comparable GAAP measures and descriptions of the reconciling items, including quantifying such items, to derive the non-GAAP measures. We encourage investors to examine the reconciling adjustments between the GAAP and non-GAAP measures, which we describe below. Interim results are not necessarily indicative of the results that may be expected for a full year.
Definitions of Non-GAAP Measures
Adjusted Operating Income is defined as operating income excluding: (1) stock-based compensation expense; (2) depreciation; and (3) acquisition-related items consisting of (i) amortization of intangible assets and impairments of goodwill and intangible assets, if applicable, and (ii) gains and losses recognized on changes in the fair value of contingent consideration arrangements, as applicable. We believe Adjusted Operating Income is useful to analysts and investors as this measure allows a more meaningful comparison between our performance and that of our competitors. The above items are excluded from our Adjusted Operating Income measure because they are non-cash in nature. Adjusted Operating Income has certain limitations because it excludes certain expenses.
Adjusted Operating Income Margin is defined as Adjusted Operating Income divided by revenues. We believe Adjusted Operating Income Margin is useful for analysts and investors as this measure allows a more meaningful comparison between our performance and that of our competitors. Adjusted Operating Income Margin has certain limitations in that it does not take into account the impact to our consolidated statement of operations of certain expenses.
Free Cash Flow is defined as net cash provided by operating activities, less capital expenditures. We believe Free Cash Flow is useful to investors because it represents the cash that our operating businesses generate, before taking into account non-operational cash movements. Free Cash Flow has certain limitations in that it does not represent the total increase or decrease in the cash balance for the period, nor does it represent the residual cash flow for discretionary expenditures. Therefore, we think it is important to evaluate Free Cash Flow along with our consolidated statement of cash flows.
We look at Free Cash Flow as a measure of the strength and performance of our businesses, not for valuation purposes. In our view, applying “multiples” to Free Cash Flow is inappropriate because it is subject to timing, seasonality and one-time events. We manage our business for cash, and we think it is of utmost importance to maximize cash – but our primary valuation metric is Adjusted Operating Income.
Revenue Excluding Foreign Exchange Effects is calculated by translating current period revenues using prior period exchange rates. The percentage change in Revenue Excluding Foreign Exchange Effects is calculated by determining the change in current period revenues over prior period revenues where current period revenues are translated using prior period exchange rates. We believe the impact of foreign exchange rates on Match Group, due to its global reach, may be an important factor in understanding period over period comparisons if movement in rates is significant. Since our results are reported in U.S. dollars, international revenues are favorably impacted as the U.S. dollar weakens relative to other currencies, and unfavorably impacted as the U.S. dollar strengthens relative to other currencies. We believe the presentation of revenue excluding foreign exchange effects in addition to reported revenue helps improve the ability to understand Match Group’s performance because it excludes the impact of foreign currency volatility that is not indicative of Match Group’s core operating results.
Non-Cash Expenses That Are Excluded From Our Non-GAAP Measures
Stock-based compensation expense consists principally of expense associated with the grants of RSUs, performance-based RSUs, and market-based awards. These expenses are not paid in cash, and we include the related shares in our fully diluted shares outstanding using the treasury stock method; however, performance-based RSUs and market-based awards are included only to the extent the applicable performance or market condition(s) have been met (assuming the end of the reporting period is the end of the contingency period). To the extent stock-based awards are settled on a net basis, we remit the required tax-withholding amounts from our current funds.
Depreciation is a non-cash expense relating to our property and equipment and is computed using the straight-line method to allocate the cost of depreciable assets to operations over their estimated useful lives, or, in the case of leasehold improvements, the lease term, if shorter.
Amortization of intangible assets and impairments of goodwill and intangible assets are non-cash expenses related primarily to acquisitions. At the time of an acquisition, the identifiable definite-lived intangible assets of the acquired company, such as customer lists, trade names and technology, are valued and amortized over their estimated lives. Value is also assigned to (i) acquired indefinite-lived intangible assets, which consist of trade names and trademarks, and (ii) goodwill, which are not subject to amortization. An impairment is recorded when the carrying value of an intangible asset or goodwill exceeds its fair value. We believe that intangible assets represent costs incurred by the acquired company to build value prior to acquisition and the related amortization and impairment charges of intangible assets or goodwill, if applicable, are not ongoing costs of doing business.
Additional Definitions
Tinder consists of the world-wide activity of the brand Tinder®.
Hinge consists of the world-wide activity of the brand Hinge®.
Evergreen & Emerging (“E&E”) consists of the world-wide activity of our Evergreen brands including Match®, Meetic®, OkCupid®, Plenty Of Fish®, and a number of demographically focused brands and our Emerging brands including BLK®, ChispaTM, The League®, Archer®, Upward®, YuzuTM, and other smaller brands.
Match Group Asia (“MG Asia”) consists of the world-wide activity of the brands Pairs® and Azar®.
Direct Revenue is revenue that is received directly from end users of our services and includes both subscription and à la carte revenue.
Indirect Revenue is revenue that is not received directly from end users of our services, substantially all of which is advertising revenue.
Payers are unique users at a brand level in a given month from whom we earned Direct Revenue. When presented as a quarter-to-date or year-to-date value, Payers represents the average of the monthly values for the respective period presented. At a consolidated level and a business unit level to the extent a business unit consists of multiple brands, duplicate Payers may exist when we earn revenue from the same individual at multiple brands in a given month, as we are unable to identify unique individuals across brands in the Match Group portfolio.
Revenue Per Payer (“RPP”) is the average monthly revenue earned from a Payer and is Direct Revenue for a period divided by the Payers in the period, further divided by the number of months in the period.
Leverage on a gross basis is calculated as principal debt balance divided by Adjusted Operating Income for the period referenced.
Leverage on a net basis is calculated as principal debt balance less cash and cash equivalents and short-term investments divided by Adjusted Operating Income for the period referenced.
Other Information
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
This press release and our conference call, which will be held at 8:30 a.m. Eastern Time on February 5, 2025, may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements that are not historical facts are “forward looking statements.” The use of words such as “anticipates,” “estimates,” “expects,” “plans” and “believes,” among others, generally identify forward-looking statements. These forward-looking statements include, among others, statements relating to: Match Group’s future financial performance, Match Group’s business prospects and strategy, anticipated trends, and other similar matters. These forward-looking statements are based on management’s current expectations and assumptions about future events, which are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Actual results could differ materially from those contained in these forward-looking statements for a variety of reasons, including, among others: our ability to maintain or grow the size of our user base and convert users to paying users, competition, the limited operating history of some of our brands, our ability to attract users to our services through cost-effective marketing and related efforts, our ability to distribute our services through third parties and offset related fees, risks relating to our use of artificial intelligence, foreign currency exchange rate fluctuations, the integrity and scalability of our systems and infrastructure (and those of third parties) and our ability to adapt ours to changes in a timely and cost-effective manner, our ability to protect our systems from cyberattacks and to protect personal and confidential user information, impacts to our offices and employees from more frequent extreme weather events, risks relating to certain of our international operations and acquisitions, damage to our brands’ reputations as a result of inappropriate actions by users of our services, and macroeconomic conditions. Certain of these and other risks and uncertainties are discussed in Match Group’s filings with the Securities and Exchange Commission. Other unknown or unpredictable factors that could also adversely affect Match Group’s business, financial condition and results of operations may arise from time to time. In light of these risks and uncertainties, these forward-looking statements may not prove to be accurate. Accordingly, you should not place undue reliance on these forward-looking statements, which only reflect the views of Match Group management as of the date of this press release. Match Group does not undertake to update these forward-looking statements.
About Match Group
Match Group (NASDAQ: MTCH), through its portfolio companies, is a leading provider of digital technologies designed to help people make meaningful connections. Our global portfolio of brands includes Tinder®, Hinge®, Match®, Meetic®, OkCupid®, Pairs™, PlentyOfFish®, Azar®, BLK®, and more, each built to increase our users’ likelihood of connecting with others. Through our trusted brands, we provide tailored services to meet the varying preferences of our users. Our services are available in over 40 languages to our users all over the world.
_____________________________
1 As defined on page 16 of this press release.
2 Leverage is calculated utilizing the non-GAAP measure Adjusted Operating Income as the denominator. For a reconciliation of the non-GAAP measure for each period presented, see page 14.
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SOURCE Match Group
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Singtel Receives Four Frost & Sullivan 2026 Recognitions for Leadership in Enterprise Connectivity, Cybersecurity, and Digital Transformation
Published
3 hours agoon
July 19, 2026By
The recognitions highlight Singtel’s leadership in secure connectivity, network transformation, IoT innovation, and cybersecurity, delivering customer value through intelligent digital infrastructure and AI-enabled enterprise services.
SAN ANTONIO, July 20, 2026 /CNW/ — Frost & Sullivan is pleased to honor Singtel with the 2026 Southeast Asia IoT Connectivity Service Provider Company of the Year, 2026 Singapore Network Transformation Customer Value Leadership, 2026 Singapore Cybersecurity Services Company of the Year, and 2026 Singapore SD-WAN and SASE Service Provider Company of the Year recognitions. These acknowledgements reflect Singtel’s outstanding achievements in delivering secure, intelligent, and scalable digital infrastructure that enables enterprises to modernize operations, simplify complexity, and accelerate digital transformation across Singapore and Southeast Asia. They underscore the company’s consistent leadership in strategy execution, customer value creation, and innovation across enterprise connectivity, cybersecurity, software-defined networking, and IoT connectivity services.
Frost & Sullivan evaluates companies through a rigorous benchmarking process across two core dimensions: strategy effectiveness and strategy execution. Singtel excelled in both, demonstrating its ability to anticipate evolving enterprise requirements while consistently translating long-term vision into measurable customer outcomes. Through platforms such as Singtel CUBΣ (CUBE) and its multidomestic IoT connectivity architecture, the company continues to unify networking, cybersecurity, automation, and AI-driven intelligence into integrated solutions that address the growing complexity of hybrid, multicloud, and connected environments. “Singtel has established itself as a benchmark for enterprise digital infrastructure by converging connectivity, cybersecurity, network intelligence, and IoT orchestration into a unified, customer-centric ecosystem. Its disciplined execution, platform-led innovation, and commitment to simplifying complex enterprise environments continue to strengthen operational resilience and deliver sustained value for organizations across the region,” said Kenny Yeo, Director at Frost & Sullivan.
Guided by a long-term strategy focused on digital innovation, intelligent infrastructure, and customer-centric transformation, Singtel has moved well-beyond traditional telecommunications to a trusted technology partner for enterprises navigating increasingly connected and data-driven environments. Its strategic investments in AI-enabled operations, cloud-native platforms, secure connectivity, and ecosystem partnerships enable organizations to modernize critical infrastructure while maintaining the flexibility to support future business growth.
The company’s strategic agility and sustained investment in integrated digital platforms have enabled it to scale innovative services across local, regional, and global enterprise environments. Innovation remains central to Singtel’s approach through solutions including the CUBΣ connected intelligence platform, multidomestic IoT connectivity powered by eSIM orchestration, managed cybersecurity services, AI-driven network automation, and network-as-a-service capabilities. These solutions simplify network and security management, strengthen cyber resilience, improve operational visibility, and provide enterprises with scalable, secure, and high-performing connectivity across cloud, edge, IoT, and hybrid infrastructures.
By streamlining service delivery through intelligent automation, centralized orchestration, proactive monitoring, and flexible managed and co-managed service models, Singtel continues to help organizations reduce operational complexity while improving service reliability and business agility. Its ability to integrate best-of-breed technologies in a unified operational framework, combined with strong regional network ownership and localized expertise, enables customers to confidently scale digital initiatives while maintaining security, governance, and operational excellence.
Frost & Sullivan commends Singtel for setting a high standard in competitive strategy, execution, and customer value across multiple technology domains. By combining intelligent networking, secure digital infrastructure, AI-enabled operations, and cross-border IoT capabilities in an integrated platform strategy, the company is shaping the future of enterprise connectivity while helping organizations build resilient, future-ready digital ecosystems.
Each year, Frost & Sullivan presents its Company of the Year and Customer Value Leadership recognitions to organizations that demonstrate outstanding strategy development and implementation, resulting in measurable improvements in customer satisfaction, competitive positioning, and business performance. These recognitions honor forward-thinking companies that continuously raise industry standards through innovation, operational excellence, and long-term value creation.
Frost & Sullivan Best Practices Recognition
Frost & Sullivan’s Best Practices Recognitions honor companies across regional and global markets that exhibit exceptional achievement and consistent excellence in areas such as leadership, technological innovation, customer experience, and strategic product development. Each recognition is the result of a rigorous analytical process in which Frost & Sullivan industry experts benchmark performance through comprehensive interviews, deep-dive analysis, and extensive secondary research. The goal is to identify true best-in-class organizations that are driving transformative growth and setting new industry standards.
Contact us: Start the discussion.
Contact:
Tarini Singh
E: Tarini.Singh@frost.com
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SOURCE Frost & Sullivan
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Foreign entrepreneurs find business opportunities and a home in Yiwu
Published
3 hours agoon
July 19, 2026By
BEIJING, July 19, 2026 /PRNewswire/ — A report from People’s Daily:
Yiwu, a city in east China’s Zhejiang province, is neither a coastal hub nor a border town. Yet it has built a trade network that reaches across the globe. Today, the city is home to more than 10,000 foreign-invested businesses and around 38,000 foreign merchants who live and work there.
People’s Daily reporters recently visited Yiwu to meet foreign entrepreneurs who have built successful businesses and settled down in the city. They shared stories of growing alongside Yiwu and becoming part of its remarkable transformation.
“I wouldn’t be where I am today without Yiwu,” said Senegalese businessman Sourakhata Tirera, a sentiment he often expresses. He first came to Yiwu in 2003 to source hardware products and was immediately impressed by the Yiwu International Trade Market. He noted, “If you can’t find something here, it’s probably because you haven’t searched carefully enough.”
In 2007, Tirera opened a foreign trade agency in Yiwu. In 2012, leveraging Yiwu’s comprehensive foreign trade pilot reform project, he established a wholly foreign-owned trading company. Today, his company ships 200 to 300 containers every month, dealing in more than 1,000 product categories and providing one-stop sourcing services for clients across Africa.
“Everyone is fascinated by Yiwu because it’s a place full of opportunities. Things that once seemed impossible can become reality here,” Tirera told People’s Daily after he finished receiving a trade delegation from Gabon.
Yemeni businessman Maged Mohammed Ali Al-Huraibi came to Yiwu alone in 2008 to pursue his entrepreneurial dream and founded a cosmetics trading company. In 2024, Yiwu launched a one-stop entrepreneurship service for foreign talent, offering factory leasing, policy consultation, and talent recruitment. Seizing the opportunity, Al-Huraibi invested in a cosmetics factory early that year, successfully transitioning from trader to manufacturer.
“Yiwu made my entrepreneurial dream come true. Now I want to bring cosmetics made in Yiwu to even more countries and regions around the world,” Al-Huraibi said.
Yiwu’s success is not simply about gathering products. More importantly, it comes from the city’s ability to create what the market needs — pioneering new approaches where none exist and forging new paths through continuous exploration.
Nepalese businessman Khadka Raj Kumar first came to Yiwu in 2002. In 2011, Yiwu pioneered a dual-track system for representative offices and foreign-invested business entities, addressing challenges related to residency, employment and business operations for foreign entrepreneurs. The following year, Kumar established his own trading company in Yiwu and later bought a home there.
In 2013, Yiwu established China’s first people’s mediation committee dedicated to foreign-related disputes, inviting foreign businesspeople to serve as mediation processes. Kumar has served in this role since 2017 and has participated in resolving more than 150 foreign-related disputes.
“In Yiwu, we’re not outsiders — we’re part of the local community,” he said.
As Yiwu’s sixth-generation marketplace, the Yiwu Global Digital Trade Center marks the city’s transition from traditional trade to a digital trade ecosystem.
Pakistani businessman Sheikh Jamil, who has operated in Yiwu for 21 years, has witnessed this transformation firsthand. According to him, more and more business is now conducted online. With the help of AI, he can quickly generate product solutions tailored to different market demands. “I can do business with the whole world without leaving my office,” he said.
Yemeni businessman Hasan Mohammed entered Yiwu’s cosmetics business as a distributor a decade ago. In 2018, he registered his own cosmetics brand in Saudi Arabia. With its products registered in Saudi Arabia, manufactured in China and sold worldwide, his business model delivers both high-quality products and a strong competitive edge.
“Yiwu is more like an ecosystem where ideas can quickly become reality. It offers not only opportunities, but also the potential for continuous growth,” said Mohammed.
For Brazilian businesswoman Ana Garcia, Yiwu’s transformation from “Made in Yiwu” to “Created in Yiwu” has been fueled by broad support in branding, digital innovation and global expansion. She founded a business consultancy that helps overseas clients identify market opportunities and sourcing needs, connect with qualified suppliers, and manage every step of the supply chain — from product selection and quality inspection to logistics and customs clearance.
Yiwu belongs not only to China, but also to the world. Together with entrepreneurs from around the globe, the city will continue turning the impossible into the possible, further burnishing its reputation as the “world’s supermarket” and ensuring that products created in Yiwu benefit people in more countries.
View original content:https://www.prnewswire.com/apac/news-releases/foreign-entrepreneurs-find-business-opportunities-and-a-home-in-yiwu-302829158.html
SOURCE People’s Daily
Technology
New Datingsmatch Survey: 1 in 5 Users Say a Wink Led to a Conversation
Published
4 hours agoon
July 19, 2026By
New findings from a Datingsmatch.com user survey show that the smallest gestures are doing more of the communication work than most people realize.
GIBRALTAR, July 19, 2026 /PRNewswire-PRWeb/ — People tend to think about opening messages as the moment a conversation actually starts online. The carefully worded introduction, the line someone spent time writing and then rewrote. What the data from a recent Datingsmatch survey points to is something different: for a meaningful share of users, none of that is where things began. It began with a wink.
According to the survey, 1 in 5 users of Datingsmatch reported that a wink was what got a conversation going. One-fifth of respondents, spread across different age groups and usage habits, identified that a single small gesture as the moment something actually started between two people.
What the Datingsmatch Survey Found
The survey was conducted among 5,000 users of the Datingsmatch online communication platform in June 2026, with participants asked to voluntarily share their experiences. The aim was to get a clearer picture of how conversations tend to begin, what it is that people hesitate about, and what eventually prompts someone to go ahead and reach out.
The wink finding was among the more consistent findings from the responses. Among users who described a conversation they felt good about, a notable portion were able to trace it back to a wink being sent first, whether they had sent it or received it. The reverse situation, where someone sent a cold message with no prior signal of any kind, was something respondents described as harder on both sides of the exchange.
That tracks with what broader research also points to. A 2023 Pew Research Center survey found that 55% of online daters felt insecure about the number of messages they received, and 36% felt overwhelmed by incoming contact. What that suggests is not that people don’t want to connect — it’s that the way contact gets initiated matters a great deal for how it lands.
Why Small Signals Carry More Weight Than They Seem
The Datingsmatch survey also looked at what stops people from reaching out when they want to. Uncertainty came up repeatedly. Not knowing whether someone is open to hearing from you. Not wanting to guess wrong and feel like you’ve overstepped.
What respondents described is not a lack of interest in connecting. It’s the absence of a clear enough signal that the other person is open to it. A Datingsmatch wink feature provides exactly that. It’s visible, unambiguous, and low-commitment enough that neither person has to feel exposed by it. For those still finding their footing on the platform, the beginner’s guide to the Datingsmatch platform walks through how these features work and how to use them effectively.
This connects to a 2024 study published in the journal Cyberpsychology, Behavior, and Social Networking that examined online rejection: ghosting was the most common form of rejection in digital communication, even after substantial prior exchanges. The fear that a message will simply be ignored — without any acknowledgment — is a real barrier. A lower-stakes signal reduces that barrier because the cost of no response feels smaller.
Datingsmatch notes, based on what survey participants shared, that this kind of low-friction signal seems to work differently than most people expect. It doesn’t just start conversations. It seems to reduce the gap that many users described feeling between “I want to reach out” and “I actually did.”
How People Actually Use the Wink Feature on Datingsmatch
Survey responses offered a more specific picture of the behavior. Winks were not being used randomly or as a form of mass outreach. Respondents described using them deliberately, on users they had spent time looking at, toward people they were genuinely interested in but not yet sure about approaching with a message.
Some users described sending a wink as a way of checking whether there was any openness to further contact, without having to commit to a full message exchange in order to find out. Others who had been on the receiving end of a wink said it was something they found easier to respond to, in part because it did not feel like it was asking too much of them too soon. There were also respondents who noted that when a wink had gone back and forth between two people, the first actual message felt less like an approach out of nowhere and more like a natural continuation of something that had already started.
Datingsmatch customer service regularly hears from users that knowing how to start a conversation is one of the things people think about most when they first join the platform. The survey data puts some numbers to what those conversations have long suggested.
What This Means for How the Platform Thinks About Connection
Datingsmatch highlights that findings like these shape how the platform continues to think about the role of small, low-pressure interactions in the overall experience. A conversation that begins with a wink is not a lesser conversation. Survey respondents who traced their most valued exchanges back to a wink described those conversations in consistently positive terms.
The platform sees value in giving users multiple ways to signal interest at different levels of commitment. A message is a commitment. A wink is an invitation. Both have a place, and the data suggests that for a meaningful portion of users, the invitation comes first and matters more than it might look like from the outside.
About Datingsmatch
Datingsmatch is an online communication platform that gives people a range of ways to connect online. The platform is built around the idea that how a conversation starts shapes everything that follows, and that not every interaction needs to begin with a message. Datingsmatch operates globally and continues to develop its communication tools based on how users actually engage with each other.
Media Contact
Elizabeth Fielden, Datingsmatch, 1 5869132511, review@datingsmatch.com, https://datingsmatch.com/
View original content:https://www.prweb.com/releases/new-datingsmatch-survey-1-in-5-users-say-a-wink-led-to-a-conversation-302828676.html
SOURCE Datingsmatch
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