Technology
Hello Group Inc. Announces Unaudited Financial Results for the Fourth Quarter and Fiscal Year 2024
Published
1 year agoon
By
BEIJING, March 12, 2025 /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 fourth quarter and the full year ended December 31, 2024.
Fourth Quarter of 2024 Highlights
Net revenues decreased by 12.2% year over year to RMB2,636.5 million (US$361.2 million*) in the fourth quarter of 2024.Net income attributable to Hello Group Inc. decreased to RMB187.2 million (US$25.6 million) in the fourth quarter of 2024, from RMB452.5 million in the same period of 2023.Non-GAAP net income attributable to Hello Group Inc. (note 1) decreased to RMB230.5 million (US$31.6 million) in the fourth quarter of 2024, from RMB514.7 million in the same period of 2023.Diluted net income per American Depositary Share (“ADS”) was RMB1.05 (US$0.14) in the fourth quarter of 2024, compared to RMB2.32 in the same period of 2023.Non-GAAP diluted net income per ADS (note 1) was RMB1.30 (US$0.18) in the fourth quarter of 2024, compared to RMB2.63 in the same period of 2023.Monthly Active Users (“MAU”) on Tantan app were 10.8 million in December 2024, compared to 13.7 million in December 2023.For the Momo app total paying users was 5.7 million for the fourth quarter of 2024, compared to 7.4 million for the same period last year. Tantan had 0.9 million paying users for the fourth quarter of 2024 compared to 1.2 million from the year ago period.
Full Year 2024 Highlights
Net revenues decreased by 12.0% year over year to RMB10,563.0 million (US$1,447.1 million) for the full year of 2024.Net income attributable to Hello Group Inc. was RMB1,039.6 million (US$142.4 million) for the full year of 2024, compared to RMB1,957.6 million during the same period of 2023.Non-GAAP net income attributable to Hello Group Inc. (note 1) was RMB1,232.9 million (US$168.9 million) for the full year of 2024, compared to RMB2,224.7 million during the same period of 2023.Diluted net income per ADS was RMB5.57(US$0.76) for the full year of 2024, compared to RMB9.84 during the same period of 2023.Non-GAAP diluted net income per ADS (note 1) was RMB6.60(US$0.90) for the full year of 2024, compared to RMB11.17 during the same period of 2023.
“2024 was a year fraught with challenges and opportunities. Our team maneuvered through external uncertainties well and delivered satisfactory financial and operational results.” commented Yan Tang, Chairman and CEO of Hello Group. “Momo cash cow business continues to be productive, with an ecosystem that is healthier in comparison to the previous year. Our overseas business maintained its robust growth momentum and made more meaningful contributions to the group’s financial standing. This impels us to take bolder measures to propel growth and innovation in international markets in the future.”
* 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 RMB7.2993 to US$1.00, the effective noon buying rate for December 31, 2024 as set forth in the H.10 statistical release of the Federal Reserve Board.
Fourth Quarter of 2024 Financial Results
Net revenues
Total net revenues were RMB2,636.5 million (US$361.2 million) in the fourth quarter of 2024, a decrease of 12.2% from RMB3,002.9 million in the fourth quarter of 2023.
Live video service revenues were RMB1,264.9 million (US$173.3 million) in the fourth quarter of 2024, a decrease of 17.0% from RMB1,523.9 million during the same period of 2023. The decrease was primarily attributable to our proactive operational adjustments to de-emphasize 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 RMB1,326.8 million (US$181.8 million) in the fourth quarter of 2024, a decrease of 6.9% from RMB1,424.9 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 decline in user base. The decrease was partially offset by the revenue growth from the new standalone apps.
Mobile marketing revenues were RMB43.6 million (US$6.0 million) in the fourth quarter of 2024, compared to RMB44.9 million during the same period of 2023.
Net revenues from the Momo segment decreased from RMB2,728.7 million in the fourth quarter of 2023 to RMB2,423.1 million (US$332.0 million) in the fourth quarter of 2024, primarily due to the decrease in net revenues from live video service and value-added 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 RMB272.2 million in the fourth quarter of 2023 to RMB213.4 million (US$29.2 million) in the fourth 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 RMB2,407.8 million (US$329.9 million) in the fourth quarter of 2024, a decrease of 1.0% from RMB2,431.8 million in the fourth 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; and (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 of RMB 94.1 million (US$12.9 million) in production costs in connection with films.
Non-GAAP cost and expenses (note 1) were RMB2,364.6 million (US$323.9 million) in the fourth quarter of 2024, compared to RMB2,369.5 million during the same period of 2023.
Other operating income, net
Other operating income was RMB8.0 million (US$1.1 million) in the fourth quarter of 2024, compared to RMB30.8 million during the fourth quarter of 2023. The decrease was primarily due to reduced government incentives and input VAT super deduction in the fourth quarter of 2024.
Income from operations
Income from operations was RMB236.7 million (US$32.4 million) in the fourth quarter of 2024, compared to RMB602.0 million during the same period of 2023. Income from operations of the Momo segment was RMB226.4 million (US$31.0 million) in the fourth quarter of 2024, which decreased from RMB576.9 million in the fourth quarter of 2023. Income from operations of the Tantan segment was RMB11.1 million (US$1.5 million) in the fourth quarter of 2024, which decreased from RMB26.8 million in the fourth quarter of 2023.
Non-GAAP income from operations (note 1) was RMB279.9 million (US$38.4 million) in the fourth quarter of 2024, compared to RMB664.2 million during the same period of 2023. Non-GAAP income from operations of the Momo segment was RMB269.4 million (US$36.9 million) in the fourth quarter of 2024, which decreased from RMB638.9 million in the fourth quarter of 2023. Non-GAAP income from operations of the Tantan segment was RMB11.4 million (US$1.6 million) in the fourth quarter of 2024, compared to RMB27.0 million in the fourth quarter of 2023.
Income tax expenses
Income tax expenses were RMB89.5 million (US$12.3 million) in the fourth quarter of 2024, compared to RMB183.4 million in the fourth quarter of 2023. The decrease in income tax expenses was primarily due to the lower profit in the third 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 RMB187.2 million (US$25.6 million) in the fourth quarter of 2024, compared to RMB452.5 million during the same period of 2023. Net income from the Momo segment was RMB176.3 million (US$24.2 million) in the fourth quarter of 2024, compared to RMB430.0 million in the same period of 2023. Net income from the Tantan segment was RMB11.8 million (US$1.6 million) in the fourth quarter of 2024, compared to RMB24.2 million in the fourth quarter of 2023.
Non-GAAP net income (note 1) was RMB230.5 million (US$31.6 million) in the fourth quarter of 2024, compared to RMB514.7 million during the same period of 2023. Non-GAAP net income from the Momo segment was RMB219.3 million (US$30.1 million) in the fourth quarter of 2024, which decreased from RMB492.1 million in the fourth quarter of 2023. Non-GAAP net income of the Tantan segment was RMB12.0 million (US$1.7 million) in the fourth quarter of 2024, compared to RMB24.4 million in the fourth quarter of 2023.
Net income attributable to Hello Group Inc.
Net income attributable to Hello Group Inc. was RMB187.2 million (US$25.6 million) in the fourth quarter of 2024, compared to RMB452.5 million during the same period of 2023.
Non-GAAP net income (note 1) attributable to Hello Group Inc. was RMB230.5 million (US$31.6 million) in the fourth quarter of 2024, compared to RMB514.7 million during the same period of 2023.
Net income per ADS
Diluted net income per ADS was RMB1.05 (US$0.14) in the fourth quarter of 2024, compared to RMB2.32 in the fourth quarter of 2023.
Non-GAAP diluted net income per ADS (note 1) was RMB1.30 (US$0.18) in the fourth quarter of 2024, compared to RMB2.63 in the fourth quarter of 2023.
Cash and cash flow
As of December 31, 2024, the Company’s cash, cash equivalents, short-term deposits, long-term deposits, short-term restricted cash and long-term restricted cash totaled RMB14,728.5 million (US$2,017.8 million), compared to RMB13,478.5 million as of December 31, 2023.
Net cash provided by operating activities in the fourth quarter of 2024 was RMB423.6 million (US$58.0 million), compared to RMB415.9 million in the fourth quarter of 2023.
Full Year 2024 Financial Results
Net revenues for the full year of 2024 were RMB10,563.0 million (US$1,447.1 million), a decrease of 12.0% from RMB12,002.3 million in the same period of 2023.
Net income attributable to Hello Group Inc. was RMB1,039.6 million (US$142.4 million) for the full year of 2024, compared to RMB1,957.6 million during the same period of 2023.
Non-GAAP net income attributable to Hello Group Inc. (note 1) was RMB1,232.9 million (US$168.9 million) for the full year of 2024, compared to RMB2,224.7 million during the same period of 2023.
Diluted net income per ADS was RMB5.57 (US$0.76) during the full year of 2024, compared to RMB9.84 in the same period of 2023.
Non-GAAP diluted net income per ADS (note 1) was RMB6.60 (US$0.90) during the full year of 2024, compared to RMB11.17 in the same period of 2023.
Net cash provided by operating activities was RMB1,640.0 million (US$224.7 million) during the full year of 2024, compared to RMB2,277.2 million in the same period of 2023.
Recent Development
Declaration of a special cash dividend
Hello Group’s board of directors has declared a special cash dividend in the amount of US$0.30 per ADS, or US$0.15 per ordinary share. The cash dividend will be paid on April 30, 2025 to shareholders of record at the close of business on April 11, 2025. The ex-dividend date will be April 11, 2025. The aggregate amount of cash dividends to be paid is approximately US$50 million, which will be funded by available cash on the Company’s balance sheet.
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 to US$286.1 million. On March 12, 2025, Hello Group’s board of directors approved an additional amendment to the Share Repurchase Program, to (i) extend the term of the Share Repurchase Program up to March 31, 2027, and (ii) upsize the Share Repurchase Program by another $200 million, so that the Company is authorized to, from time to time, acquire up to an aggregate of US$486.1 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 March 12, 2025, after the upsizing of the Share Repurchase Program, the remaining size of the program is US$222 million.
As of March 12, 2025, the Company has repurchased 43.5 million ADSs for US$264.0 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$6.05 per ADS.
Business Outlook
For the first quarter of 2025, the Company expects total net revenues to be between RMB2.4 billion to RMB2.5 billion, representing a decrease of 6.3% to 2.4% 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 amortization of intangible assets from business acquisitions, and such adjustments 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 from operations, net income, 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 amortization of intangible assets from business acquisitions, and such adjustments has no impact on income tax. A limitation of using these non-GAAP financial measures is that share-based compensation and amortization of intangible assets from business acquisitions have 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 Wednesday, March 12, 2025, at 8:00 a.m. U.S. Eastern Time (8:00 p.m. Beijing / Hong Kong Time on March 12, 2025).
Participants can register for the conference call by navigating to:
https://s1.c-conf.com/diamondpass/10045617-nl4uc8.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 March 19, 2025. The dial-in details for the replay are as follows:
U.S. / Canada: 1-855-883-1031
Hong Kong: 800-930-639
Passcode: 10045617
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, and Duidui, 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 first quarter of 2025, 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 fourth quarter of 2024 are preliminary, unaudited and subject to audit adjustment. In addition, we may not meet our financial outlook for the first quarter of 2025 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
Year
Ended December 31
Ended December 31
2023
2024
2024
2023
2024
2024
RMB
RMB
US$
RMB
RMB
US$
Net revenues:
Live video service
1,523,885
1,264,851
173,284
6,072,871
5,092,854
697,718
Value-added service
1,424,893
1,326,764
181,766
5,752,571
5,322,726
729,210
Mobile marketing
44,915
43,630
5,977
133,677
142,950
19,584
Mobile games
5,441
–
–
19,610
432
59
Other services
3,798
1,251
171
23,594
4,009
550
Total net revenues
3,002,932
2,636,496
361,198
12,002,323
10,562,971
1,447,121
Cost and expenses:
Cost of revenues
(1,770,117)
(1,724,821)
(236,300)
(7,025,394)
(6,447,341)
(883,282)
Research and development
(231,445)
(222,684)
(30,508)
(884,590)
(804,425)
(110,206)
Sales and marketing
(304,696)
(316,699)
(43,388)
(1,414,949)
(1,329,780)
(182,179)
General and administrative
(125,498)
(143,621)
(19,676)
(502,479)
(507,658)
(69,549)
Total cost and expenses
(2,431,756)
(2,407,825)
(329,872)
(9,827,412)
(9,089,204)
(1,245,216)
Other operating income, net
30,821
8,015
1,098
130,105
59,003
8,083
Income from operations
601,997
236,686
32,424
2,305,016
1,532,770
209,988
Interest income
124,354
124,045
16,994
436,253
510,964
70,002
Interest expense
(20,552)
(36,846)
(5,048)
(62,223)
(127,846)
(17,515)
Other gain or loss, net
(31,250)
(46,639)
(6,390)
(26,685)
(90,509)
(12,400)
Income before income tax and share of (loss) income on equity
method investments
674,549
277,246
37,980
2,652,361
1,825,379
250,075
Income tax expenses
(183,377)
(89,497)
(12,261)
(630,023)
(845,022)
(115,768)
Income before share of (loss) income on equity method
investments
491,172
187,749
25,719
2,022,338
980,357
134,307
Share of (loss) income on equity method investments
(38,703)
(514)
(70)
(70,643)
59,216
8,113
Net income
452,469
187,235
25,649
1,951,695
1,039,573
142,420
Less: net loss attributable to non-controlling interest
–
–
–
(5,886)
–
–
Net income attributable to the shareholders of Hello Group Inc.
452,469
187,235
25,649
1,957,581
1,039,573
142,420
Net income per share attributable to ordinary shareholders
Basic
1.20
0.54
0.07
5.18
2.81
0.39
Diluted
1.16
0.53
0.07
4.92
2.78
0.38
Weighted average shares used in calculating net income per ordinary
share
Basic
376,317,036
349,401,183
349,401,183
377,639,399
369,312,997
369,312,997
Diluted
390,956,175
355,325,921
355,325,921
401,833,328
373,591,974
373,591,974
Hello Group Inc.
Unaudited Condensed Consolidated Statement of Comprehensive Income
(All amounts in thousands, except share and per share data)
Three months
Year
Ended December 31
Ended December 31
2023
2024
2024
2023
2024
2024
RMB
RMB
US$
RMB
RMB
US$
Net income
452,469
187,235
25,649
1,951,695
1,039,573
142,420
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustment
(95,774)
322,935
44,242
20,414
132,248
18,118
Comprehensive income
356,695
510,170
69,891
1,972,109
1,171,821
160,538
Less: comprehensive (loss) income attributed to the non-controlling
interest
(5,020)
7,225
990
357
5,111
700
Comprehensive income attributable to Hello Group Inc.
361,715
502,945
68,901
1,971,752
1,166,710
159,838
Hello Group Inc.
Unaudited Condensed Consolidated Balance Sheets
(All amounts in thousands, except share and per share data)
December 31
December 31
December 31
2023
2024
2024
RMB
RMB
US$
Assets
Current assets
Cash and cash equivalents
5,620,466
4,122,659
564,802
Short-term deposits
1,270,626
2,026,245
277,594
Restricted cash
10,147
4,566,477
625,605
Accounts receivable, net of allowance for doubtful accounts of
RMB12,780 and RMB12,433 as of December 31, 2023 and 2024,
respectively
201,517
192,317
26,347
Amounts due from related parties
7,258
–
–
Prepaid expenses and other current assets
723,364
1,104,172
151,271
Total current assets
7,833,378
12,011,870
1,645,619
Long-term deposits
3,924,975
3,059,860
419,199
Long-term restricted cash
2,652,299
953,285
130,600
Right-of-use assets, net
109,572
252,169
34,547
Property and equipment, net
659,033
897,036
122,893
Intangible assets, net
17,086
86,661
11,873
Rental deposits
12,962
13,280
1,819
Long-term investments
786,911
825,533
113,098
Amounts due from RPT-non current
20,000
–
–
Other non-current assets
180,052
110,960
15,201
Deferred tax assets
31,741
36,066
4,941
Goodwill
–
136,250
18,666
Total assets
16,228,009
18,382,970
2,518,456
Liabilities and equity
Current liabilities
Accounts payable
616,681
615,254
84,288
Deferred revenue
442,805
427,702
58,595
Accrued expenses and other current liabilities
630,617
704,410
96,504
Amounts due to related parties
4,314
–
–
Lease liabilities due within one year
60,008
141,971
19,450
Income tax payable
94,719
157,057
21,517
Deferred consideration in connection with business acquisitions-current
27,261
28,027
3,840
Convertible Senior Notes-current
–
20,191
2,766
Long-term borrowings, current portion
215,615
1,938,385
265,558
Short-term borrowings
–
2,365,535
324,077
Total current liabilities
2,092,020
6,398,532
876,595
Deferred consideration in connection with business acquisitions-non
current
–
65,694
9,000
Lease liabilities
52,171
115,105
15,769
Deferred tax liabilities
24,987
241,915
33,142
Convertible Senior Notes
19,571
–
–
Long-term borrowings
1,938,385
–
–
Other non-current liabilities
114,085
129,051
17,680
Total liabilities
4,241,219
6,950,297
952,186
Shareholder’s equity (i)
11,986,790
11,432,673
1,566,270
Total liabilities and shareholder’s equity
16,228,009
18,382,970
2,518,456
(i): As of December 31, 2024, the number of ordinary shares outstanding was 328,185,708.
Hello Group Inc.
Unaudited Condensed Consolidated Statement of Cash Flows
(All amounts in thousands, except share and per share data)
Three months
Year
Ended December 31
Ended December 31
2023
2024
2024
2023
2024
2024
RMB
RMB
US$
RMB
RMB
US$
Cash flows from operating activities:
Net income
452,469
187,235
25,649
1,951,695
1,039,573
142,420
Adjustments to reconcile net income to net cash provided by
operating activities:
Depreciation of property and equipment
15,394
11,868
1,626
74,492
52,847
7,240
Amortization of intangible assets
1,279
2,049
281
5,116
5,886
806
Share-based compensation
62,224
42,493
5,822
267,101
192,572
26,382
Share of loss (income) on equity method investments
38,703
514
70
70,643
(59,216)
(8,113)
Gain on repurchase of convertible senior notes
–
–
–
(4,565)
–
–
Cash received on distributions from equity method investments
–
730
100
2,067
1,927
264
Loss on long-term investments
31,250
46,639
6,390
31,250
90,509
12,400
Gain or loss on disposal of property and equipment
2
–
–
(518)
(62)
(8)
Provision of loss (income) on receivable and other assets
1,553
(57)
(8)
11,624
3,618
496
Changes in operating assets and liabilities:
Accounts receivable
(11,392)
(4,347)
(596)
(21,308)
7,605
1,042
Prepaid expenses and other current assets
(13,492)
27,035
3,704
84,802
(64,811)
(8,879)
Amounts due from related parties
(144)
–
–
(27,203)
–
–
Rental deposits
5,524
–
–
7,776
(309)
(42)
Deferred tax assets
1,728
(128)
(18)
2,600
(4,323)
(592)
Other non-current assets
16,033
101,561
13,914
(11,606)
(81,837)
(11,212)
Accounts payable
(25,118)
8,139
1,115
13,707
(7,571)
(1,037)
Income tax payable
5,456
63,625
8,717
25,952
62,337
8,540
Deferred revenue
(31,253)
(26,219)
(3,592)
(42,390)
(25,651)
(3,514)
Accrued expenses and other current liabilities
(11,586)
78,250
10,720
(183,772)
139,607
19,126
Amount due to related parties
639
–
–
(4,865)
–
–
Deferred tax liabilities
(130,345)
(81,498)
(11,165)
(147)
212,835
29,158
Other non-current liabilities
6,953
(34,247)
(4,692)
24,710
74,458
10,201
Net cash provided by operating activities
415,877
423,642
58,037
2,277,161
1,639,994
224,678
Cash flows from investing activities:
Purchase of property and equipment
(316,847)
(21,727)
(2,977)
(576,310)
(285,541)
(39,119)
Payment for long-term investments
(9,750)
(35,959)
(4,926)
(18,750)
(69,209)
(9,482)
Payment for business acquisition
–
(136,642)
(18,720)
–
(136,642)
(18,720)
Purchase of short-term deposits
–
–
–
(1,028,556)
(2,133,086)
(292,232)
Cash received on maturity of short-term deposits
800,000
1,047,165
143,461
6,209,820
2,128,181
291,560
Cash received from sales of short-term investment
308,550
–
–
308,550
–
–
Cash received on investment income distribution
–
120
16
1,517
120
16
Purchase of long-term deposits
(361,165)
–
–
(4,210,025)
(718,860)
(98,483)
Cash received on maturity of long-term deposits
–
200,000
27,400
1,700,000
918,860
125,883
Cash received from sales of long-term investment
10,000
–
–
25,000
2,000
274
Loan to a third-party company
–
(168,933)
(23,144)
–
(265,613)
(36,389)
Other investing activities
1
8
1
1,823
903
124
Net cash provided by (used in) investing activities
430,789
884,032
121,111
2,413,069
(558,887)
(76,568)
Cash flows from financing activities:
Proceeds from exercise of share options
31
1
–
601
18
2
Repurchase of ordinary shares
(150,191)
(425,176)
(58,249)
(212,195)
(1,197,439)
(164,048)
Repurchase of subsidiary’s share options
–
–
–
(4,319)
–
–
Dividends payment
(20,803)
–
–
(958,052)
(716,302)
(98,133)
Proceeds from short-term borrowings
–
–
–
–
2,365,535
324,077
Proceeds from long-term borrowings
–
–
–
2,154,000
–
–
Repayment of long-term borrowings
–
–
–
–
(215,615)
(29,539)
Payment for redemption of convertible bonds
–
–
–
(2,679,942)
–
–
Net cash (used in) provided by financing activities
(170,963)
(425,175)
(58,249)
(1,699,907)
236,197
32,359
Effect of exchange rate changes
(34,609)
172,439
23,628
93,988
42,205
5,784
Net increase in cash and cash equivalents
641,094
1,054,938
144,527
3,084,311
1,359,509
186,253
Cash, cash equivalents and restricted cash at the beginning of period
7,641,818
8,587,483
1,176,480
5,198,601
8,282,912
1,134,754
Cash, cash equivalents and restricted cash at the end of period
8,282,912
9,642,421
1,321,007
8,282,912
9,642,421
1,321,007
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 December 31, 2023
Ended December 31, 2024
Ended December 31, 2024
GAAP
Share-based
compensation
Non-GAAP
GAAP
Amortization of
intangible assets
from business
acquisitions
Share-based
compensation
Non-GAAP
GAAP
Amortization of
intangible assets
from business
acquisitions
Share-based
compensation
Non-GAAP
RMB
RMB
RMB
RMB
RMB
RMB
RMB
US$
US$
US$
US$
Cost of revenues
(1,770,117)
1,909
(1,768,208)
(1,724,821)
128
1,822
(1,722,871)
(236,300)
18
250
(236,032)
Research and development
(231,445)
13,375
(218,070)
(222,684)
120
10,198
(212,366)
(30,508)
16
1,397
(29,095)
Sales and marketing
(304,696)
8,653
(296,043)
(316,699)
521
4,480
(311,698)
(43,388)
71
614
(42,703)
General and administrative
(125,498)
38,287
(87,211)
(143,621)
–
25,993
(117,628)
(19,676)
–
3,561
(16,115)
Cost and operating expenses
(2,431,756)
62,224
(2,369,532)
(2,407,825)
769
42,493
(2,364,563)
(329,872)
105
5,822
(323,945)
Income from operations
601,997
62,224
664,221
236,686
769
42,493
279,948
32,424
105
5,822
38,351
Net income attributable to Hello Group Inc.
452,469
62,224
514,693
187,235
769
42,493
230,497
25,649
105
5,822
31,576
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.
Year
Year
Year
Ended December 31, 2023
Ended December 31, 2024
Ended December 31, 2024
GAAP
Share-based
compensation
Non-GAAP
GAAP
Amortization of
intangible assets
from business
acquisitions
Share-based
compensation
Non-GAAP
GAAP
Amortization of
intangible assets
from business
acquisitions
Share-based
compensation
Non-GAAP
RMB
RMB
RMB
RMB
RMB
RMB
RMB
US$
US$
US$
US$
Cost of revenues
(7,025,394)
6,307
(7,019,087)
(6,447,341)
128
7,643
(6,439,570)
(883,282)
18
1,047
(882,217)
Research and development
(884,590)
64,561
(820,029)
(804,425)
120
43,526
(760,779)
(110,206)
16
5,963
(104,227)
Sales and marketing
(1,414,949)
29,066
(1,385,883)
(1,329,780)
521
19,520
(1,309,739)
(182,179)
71
2,674
(179,434)
General and administrative
(502,479)
167,167
(335,312)
(507,658)
–
121,883
(385,775)
(69,549)
–
16,698
(52,851)
Cost and operating expenses
(9,827,412)
267,101
(9,560,311)
(9,089,204)
769
192,572
(8,895,863)
(1,245,216)
105
26,382
(1,218,729)
Income from operations
2,305,016
267,101
2,572,117
1,532,770
769
192,572
1,726,111
209,988
105
26,382
236,475
Net income attributable to Hello Group Inc.
1,957,581
267,101
2,224,682
1,039,573
769
192,572
1,232,914
142,420
105
26,382
168,907
Hello Group Inc.
Unaudited Condensed Segment Report
(All amounts in thousands, except share and per share data)
Three months
Ended December 31, 2024
Momo
Tantan
QOOL
Total
Total
RMB
RMB
RMB
RMB
US$
Net revenues:
Live video service
1,189,118
75,733
–
1,264,851
173,284
Value-added service
1,198,951
127,813
–
1,326,764
181,766
Mobile marketing
33,772
9,858
–
43,630
5,977
Other services
1,222
–
29
1,251
171
Total net revenues
2,423,063
213,404
29
2,636,496
361,198
Cost and expenses (ii):
Cost of revenues
(1,621,151)
(103,670)
–
(1,724,821)
(236,300)
Research and development
(181,255)
(41,429)
–
(222,684)
(30,508)
Sales and marketing
(267,065)
(48,978)
(656)
(316,699)
(43,388)
General and administrative
(134,200)
(9,124)
(297)
(143,621)
(19,676)
Total cost and expenses
(2,203,671)
(203,201)
(953)
(2,407,825)
(329,872)
Other operating income
7,032
928
55
8,015
1,098
Income (loss) from operations
226,424
11,131
(869)
236,686
32,424
Interest income
123,822
216
7
124,045
16,994
Interest expense
(36,846)
–
–
(36,846)
(5,048)
Other gain or loss, net
(46,639)
–
–
(46,639)
(6,390)
Income (loss) before income tax and share of loss on equity method
investments
266,761
11,347
(862)
277,246
37,980
Income tax (expenses) benefits
(89,919)
455
(33)
(89,497)
(12,261)
Income (loss) before share of loss on equity method investments
176,842
11,802
(895)
187,749
25,719
Share of loss on equity method investments
(514)
–
–
(514)
(70)
Net income (loss)
176,328
11,802
(895)
187,235
25,649
(ii) Share-based compensation was allocated in cost of revenues and operating expenses as follows:
Three months
Ended December 31, 2024
Momo
Tantan
QOOL
Total
Total
RMB
RMB
RMB
RMB
US$
Cost of revenues
1,822
–
–
1,822
250
Research and development
9,956
242
–
10,198
1,397
Sales and marketing
4,480
–
–
4,480
614
General and administrative
25,993
–
–
25,993
3,561
Total cost and expenses
42,251
242
–
42,493
5,822
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 December 31, 2024
Momo
Tantan
QOOL
Total
Total
RMB
RMB
RMB
RMB
US$
Income (loss) from operations
226,424
11,131
(869)
236,686
32,424
Share-based compensation
42,251
242
–
42,493
5,822
Amortization of intangible assets from
business acquisitions
769
–
–
769
105
Non-GAAP income (loss) from
operations
269,444
11,373
(869)
279,948
38,351
Net income (loss)
176,328
11,802
(895)
187,235
25,649
Share-based compensation
42,251
242
–
42,493
5,822
Amortization of intangible assets from
business acquisitions
769
–
–
769
105
Non-GAAP net income (loss)
219,348
12,044
(895)
230,497
31,576
Hello Group Inc.
Unaudited Condensed Segment Report
(All amounts in thousands, except share and per share data)
Three months
Ended December 31, 2023
Momo
Tantan
QOOL
Total
Total
RMB
RMB
RMB
RMB
US$[1]
Net revenues:
Live video service
1,423,730
100,155
–
1,523,885
214,635
Value-added service
1,264,358
160,535
–
1,424,893
200,692
Mobile marketing
33,395
11,520
–
44,915
6,326
Mobile games
5,441
–
–
5,441
766
Other services
1,760
–
2,038
3,798
535
Total net revenues
2,728,684
272,210
2,038
3,002,932
422,954
Cost and expenses (iii):
Cost of revenues
(1,638,915)
(130,237)
(965)
(1,770,117)
(249,316)
Research and development
(180,343)
(51,102)
–
(231,445)
(32,598)
Sales and marketing
(244,043)
(58,444)
(2,209)
(304,696)
(42,916)
General and administrative
(117,923)
(6,882)
(693)
(125,498)
(17,676)
Total cost and expenses
(2,181,224)
(246,665)
(3,867)
(2,431,756)
(342,506)
Other operating income, net
29,442
1,301
78
30,821
4,341
Income (loss) from operations
576,902
26,846
(1,751)
601,997
84,789
Interest income
124,294
57
3
124,354
17,515
Interest expense
(20,552)
–
–
(20,552)
(2,895)
Other gain or loss, net
(31,250)
–
–
(31,250)
(4,401)
Income (loss) before income tax and share of loss on equity
method investments
649,394
26,903
(1,748)
674,549
95,008
Income tax expenses
(180,669)
(2,708)
–
(183,377)
(25,828)
Income (loss) before share of loss on equity method investments
468,725
24,195
(1,748)
491,172
69,180
Share of loss on equity method investments
(38,703)
–
–
(38,703)
(5,451)
Net income (loss)
430,022
24,195
(1,748)
452,469
63,729
(iii) Share-based compensation was allocated in cost of revenues and operating expenses as follows:
Three months
Ended December 31, 2023
Momo
Tantan
QOOL
Total
Total
RMB
RMB
RMB
RMB
US$
Cost of revenues
1,905
4
–
1,909
269
Research and development
13,194
181
–
13,375
1,884
Sales and marketing
8,653
–
–
8,653
1,219
General and administrative
38,279
8
–
38,287
5,393
Total cost and expenses
62,031
193
–
62,224
8,765
[1] All translations from RMB to U.S. dollars are made at a rate of RMB7.0999 to US$1.00, the effective noon buying rate for December 29, 2023 as set forth in the H.10 statistical release of the Federal Reserve Board.
Hello Group Inc.
Reconciliation of GAAP and NON-GAAP Results of Unaudited Segment Report
(All amounts in thousands, except share and per share data)
Three months
Ended December 31, 2023
Momo
Tantan
QOOL
Total
Total
RMB
RMB
RMB
RMB
US$
Income (loss) from operations
576,902
26,846
(1,751)
601,997
84,789
Share-based compensation
62,031
193
–
62,224
8,765
Non-GAAP income (loss) from
operations
638,933
27,039
(1,751)
664,221
93,554
Net income (loss)
430,022
24,195
(1,748)
452,469
63,729
Share-based compensation
62,031
193
–
62,224
8,765
Non-GAAP net income (loss)
492,053
24,388
(1,748)
514,693
72,494
Hello Group Inc.
Unaudited Condensed Segment Report
(All amounts in thousands, except share and per share data)
Year
Ended December 31, 2024
Momo
Tantan
QOOL
Total
Total
RMB
RMB
RMB
RMB
US$
Net revenues:
Live video service
4,779,865
312,989
–
5,092,854
697,718
Value-added service
4,772,811
549,915
–
5,322,726
729,210
Mobile marketing
105,169
37,781
–
142,950
19,584
Mobile games
432
–
–
432
59
Other services
3,137
–
872
4,009
550
Total net revenues
9,661,414
900,685
872
10,562,971
1,447,121
Cost and expenses (iv):
Cost of revenues
(6,029,415)
(417,887)
(39)
(6,447,341)
(883,282)
Research and development
(643,457)
(160,968)
–
(804,425)
(110,206)
Sales and marketing
(1,103,475)
(220,966)
(5,339)
(1,329,780)
(182,179)
General and administrative
(473,778)
(32,868)
(1,012)
(507,658)
(69,549)
Total cost and expenses
(8,250,125)
(832,689)
(6,390)
(9,089,204)
(1,245,216)
Other operating income
56,069
2,853
81
59,003
8,083
Income (loss) from operations
1,467,358
70,849
(5,437)
1,532,770
209,988
Interest income
510,162
789
13
510,964
70,002
Interest expense
(127,846)
–
–
(127,846)
(17,515)
Other gain or loss, net
(90,509)
–
–
(90,509)
(12,400)
Income (loss) before income tax and share of income on equity method
investments
1,759,165
71,638
(5,424)
1,825,379
250,075
Income tax expenses
(843,640)
(1,349)
(33)
(845,022)
(115,768)
Income (loss) before share of income on equity method investments
915,525
70,289
(5,457)
980,357
134,307
Share of income on equity method investments
59,216
–
–
59,216
8,113
Net income (loss)
974,741
70,289
(5,457)
1,039,573
142,420
(iv) Share-based compensation was allocated in cost of revenues and operating expenses as follows:
Year
Ended December 31, 2024
Momo
Tantan
QOOL
Total
Total
RMB
RMB
RMB
RMB
US$
Cost of revenues
7,639
4
–
7,643
1,047
Research and development
38,452
5,074
–
43,526
5,963
Sales and marketing
19,520
–
–
19,520
2,674
General and administrative
121,867
16
–
121,883
16,698
Total cost and expenses
187,478
5,094
–
192,572
26,382
Hello Group Inc.
Reconciliation of GAAP and NON-GAAP Results of Unaudited Segment Report
(All amounts in thousands, except share and per share data)
Year
Ended December 31, 2024
Momo
Tantan
QOOL
Total
Total
RMB
RMB
RMB
RMB
US$
Income (loss) from operations
1,467,358
70,849
(5,437)
1,532,770
209,988
Share-based compensation
187,478
5,094
–
192,572
26,382
Amortization of intangible assets from
business acquisitions
769
–
–
769
105
Non-GAAP income (loss) from operations
1,655,605
75,943
(5,437)
1,726,111
236,475
Net income (loss)
974,741
70,289
(5,457)
1,039,573
142,420
Share-based compensation
187,478
5,094
–
192,572
26,382
Amortization of intangible assets from
business acquisitions
769
–
–
769
105
Non-GAAP net income (loss)
1,162,988
75,383
(5,457)
1,232,914
168,907
Hello Group Inc.
Unaudited Condensed Segment Report
(All amounts in thousands, except share and per share data)
Year
Ended December 31, 2023
Momo
Tantan
QOOL
Total
Total
RMB
RMB
RMB
RMB
US$
Net revenues:
Live video service
5,567,894
504,977
–
6,072,871
855,346
Value-added service
5,085,541
667,030
–
5,752,571
810,233
Mobile marketing
109,125
24,552
–
133,677
18,828
Mobile games
19,610
–
–
19,610
2,762
Other services
16,337
–
7,257
23,594
3,323
Total net revenues
10,798,507
1,196,559
7,257
12,002,323
1,690,492
Cost and expenses (v):
Cost of revenues
(6,404,042)
(599,348)
(22,004)
(7,025,394)
(989,506)
Research and development
(664,340)
(220,250)
–
(884,590)
(124,592)
Sales and marketing
(1,138,505)
(268,652)
(7,792)
(1,414,949)
(199,291)
General and administrative
(467,537)
(26,482)
(8,460)
(502,479)
(70,773)
Total cost and expenses
(8,674,424)
(1,114,732)
(38,256)
(9,827,412)
(1,384,162)
Other operating income
125,318
4,411
376
130,105
18,325
Income (loss) from operations
2,249,401
86,238
(30,623)
2,305,016
324,655
Interest income
435,451
713
89
436,253
61,445
Interest expense
(62,223)
–
–
(62,223)
(8,764)
Other gain or loss, net
(26,685)
–
–
(26,685)
(3,759)
Income (loss) before income tax and share of loss on equity method
investments
2,595,944
86,951
(30,534)
2,652,361
373,577
Income tax expenses
(623,844)
(6,179)
–
(630,023)
(88,737)
Income (loss) before share of loss on equity method investments
1,972,100
80,772
(30,534)
2,022,338
284,840
Share of loss on equity method investments
(70,643)
–
–
(70,643)
(9,950)
Net income (loss)
1,901,457
80,772
(30,534)
1,951,695
274,890
(v) Share-based compensation was allocated in cost of revenues and operating expenses as follows:
Year
Ended December 31, 2023
Momo
Tantan
QOOL
Total
Total
RMB
RMB
RMB
RMB
US$
Cost of revenues
6,167
140
–
6,307
888
Research and development
49,987
14,574
–
64,561
9,093
Sales and marketing
29,061
5
–
29,066
4,094
General and administrative
167,135
32
–
167,167
23,545
Total cost and expenses
252,350
14,751
–
267,101
37,620
Hello Group Inc.
Reconciliation of GAAP and NON-GAAP Results of Unaudited Segment Report
(All amounts in thousands, except share and per share data)
Year
ended December 31, 2023
Momo
Tantan
QOOL
Total
Total
RMB
RMB
RMB
RMB
US$
Operating income (loss) from operations
2,249,401
86,238
(30,623)
2,305,016
324,655
Share-based compensation
252,350
14,751
–
267,101
37,620
Non-GAAP operating income (loss) from
operations
2,501,751
100,989
(30,623)
2,572,117
362,275
Net income (loss)
1,901,457
80,772
(30,534)
1,951,695
274,890
Share-based compensation
252,350
14,751
–
267,101
37,620
Non-GAAP net income (loss)
2,153,807
95,523
(30,534)
2,218,796
312,510
View original content:https://www.prnewswire.com/news-releases/hello-group-inc-announces-unaudited-financial-results-for-the-fourth-quarter-and-fiscal-year-2024-302399626.html
SOURCE Hello Group Inc.
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This release has been updated to include new information provided by TrendAI. The complete, corrected release follows, with additional details at the end:
TrendAI™ Adopts Claude Opus 5 to Advance Vulnerability Prioritization and Virtual Patching
As a participant in Anthropic’s Cyber Verification Program, TrendAI applies frontier reasoning to convert vulnerability intelligence into faster protection across hybrid environments
DALLAS, July 24, 2026 /PRNewswire/ — TrendAI™, the enterprise AI security leader from Trend Micro Incorporated (TYO: 4704; TSE: 4704), today announced it is adopting Claude Opus 5, Anthropic’s latest and most capable Opus model, to help security teams convert vulnerability intelligence into immediate protection, from prioritization to virtual patching. The move builds on TrendAI’s collaboration with Anthropic on Claude Opus 4.8, extending the same defensive focus to a model that delivers step-change gains in advanced reasoning, agentic workflows, and long-horizon analysis. As AI makes finding vulnerabilities easier than ever, the harder problem becomes protecting organizations faster than software can be permanently patched, and that is where TrendAI is putting Opus 5 to work.
As a participant in Anthropic’s Cyber Verification Program, which credentials organizations for the defensive use of frontier AI models, TrendAI is positioned to apply Claude Opus 5 to defensive security as access becomes available. The model is Zero Data Retention compatible, supporting TrendAI’s governance and data-protection requirements as it scales AI across security operations.
The work extends to TrendAI Threat Research, where frontier AI models are combined with our proprietary frontier intelligence engine and human expertise to generate pre-disclosure intelligence. Those insights power TrendAI Vision One™, delivering stronger detection, deeper forensic insights, and proactive protection through virtual patching.
Rachel Jin, Chief Platform and Business Officer, Head of TrendAI™:
“With Claude Opus 5, TrendAI can move from vulnerability intelligence to action faster than ever, prioritizing what matters most by exploitability and business impact. Finding the vulnerability was always the hard part. Now the challenge is protecting organizations faster than software can be permanently patched, and frontier reasoning is what changes that equation, extending all the way to virtual patching that protects customers before a vendor fix ships. This is what it means to secure the AI age, fearlessly.”
These capabilities support TrendAI Vision One™ in helping security analysts, AppSec teams, and SOC teams prioritize exposure, map attack paths, and accelerate mitigation, including virtual patching, across hybrid environments, moving vulnerability management from a static scanning process into a faster, context-aware risk mitigation workflow.
About TrendAI™
TrendAI™, the global AI security leader and enterprise business unit of Trend Micro, empowers organizations with full AI visibility and consolidated security that inspires confidence, drives innovation, and eliminates risk. Trusted by the largest enterprises and governments across 185 countries, TrendAI™ secures the entire organization, from identities, to infrastructure, to data. Global Fortune 500 companies rely on TrendAI™ to cut risk and stop threats up to three months earlier, powered by world-leading threat and attack intelligence. Through deep ecosystem partnerships with market leaders like NVIDIA, Anthropic, AWS, Google, and Microsoft, TrendAI™ empowers your organization to securely drive forward at the speed of AI. AI Fearlessly. Learn more: trendaisecurity.com
About Anthropic
Anthropic is an AI safety and research company dedicated to building reliable, interpretable, and steerable AI systems. Its Claude family of models, including Claude Opus 5, enables advanced capabilities across a wide range of applications, including code understanding and security analysis.
Update: The latest version of this release includes additional statements from TrendAI related to the original announcement.
View original content to download multimedia:https://www.prnewswire.com/news-releases/trendai-adopts-claude-opus-5-to-advance-vulnerability-prioritization-assessment-and-virtual-patching-302834362.html
SOURCE TrendAI
Technology
Ralph Ye on 10 Years of Entrepreneurship at CASEKOO: Less Identity Shift, More Habits That Endure
Published
24 minutes agoon
July 24, 2026By
NEW YORK, July 24, 2026 /PRNewswire/ — As CASEKOO approaches its 10th anniversary, founder Ralph Ye says the company’s biggest achievement isn’t measured by units sold, but by how its philosophy has evolved.
Ten years ago, Ye found himself frustrated by a simple problem: his phone wouldn’t stand upright on a fast-food table. Instead of accepting the inconvenience, he saw an opportunity to rethink what a phone case could do.
Today, CASEKOO has sold more than 20 million phone cases across 32 countries. Over the past decade, the company has evolved from creating protective accessories into designing products that fit naturally into everyday life.
“Innovation isn’t about changing identities,” Ye said. “It’s about making meaningful habits easier to keep.”
From Q Line to LinKOO
The evolution of CASEKOO’s product portfolio reflects a broader shift in the company’s design philosophy.
The journey began with the Q Line (Quality Line), a collection of crystal-clear phone cases engineered to deliver premium protection without compromising aesthetics. In 2021, CASEKOO introduced the E Line (Innovation Line), the world’s first phone case with an integrated ring stand. The product earned an iF Design Award and became an Amazon bestseller, demonstrating the market’s appetite for accessories that combined protection with everyday functionality. The X Line (Expression Line) followed, expanding the brand’s focus on personalization and expressive design.
Each product generation introduced new capabilities, but each also reinforced an important insight.
“We moved from Q Line to E Line to X Line, and every generation taught us something about what people actually need,” said Ye. “By the time we introduced The KOO series, we weren’t designing features anymore. We were designing around everyday behaviors.”
Today, the portfolio gives each rhythm a clear name: LinKOO — Link Your Way for hands-free carry, StandKOO — Elevate Your Day for hands-free viewing and grip, and X-LINE — Fit Your Vibe for expressive personalization.
It represents CASEKOO’s transition from designing accessories with added functions to creating products that support everyday habits. For the company, the future of consumer technology lies not in how many features a product offers, but in how seamlessly it integrates into the way people live.
A Philosophy Born from Everyday Life
The inspiration behind LinKOO came from one of Ye’s longest-standing habits.
For nearly two decades, he has left home every day holding his wife’s hand. One evening, while carrying his phone, keys, and wallet in his other hand, he realized how often everyday essentials compete with life’s simplest moments.
That observation inspired ClipSafe™, a foldable clasp integrated into the LinKOO series. Hidden when not in use and deployable with a single press, it allows users to carry everyday essentials without sacrificing comfort or aesthetics.
For CASEKOO, LinKOO is more than a product launch. It represents the company’s belief that technology should adapt to people—not the other way around.
“Ten years ago, we asked how to better protect a phone,” Ye said. “Today, we’re asking how to protect a moment.”
That is what designed to fit you means. That is Less Effort, More Living. And after a decade of iteration, failure, and quiet persistence, CASEKOO has finally arrived—not at an answer, but at a better question.
About CASEKOO
CASEKOO is a design-led lifestyle accessories brand built around a simple idea: freeing your hands in everyday life. Through thoughtful hands-free solutions, we help people move seamlessly between different moments of the day—from active, on-the-go moments to times of focus and connection.
What makes CASEKOO different from a regular phone case? We believe technology should support life, not interrupt it. By designing products that adapt naturally to how people live, work, and move, CASEKOO reduces everyday friction and creates a more effortless experience—making room for freedom, connection, and the moments that truly matter.
For more information, visit: casekoo.com.
Contact:
Charlotte Yu
brandteam@casekoo.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/ralph-ye-on-10-years-of-entrepreneurship-at-casekoo-less-identity-shift-more-habits-that-endure-302831896.html
SOURCE CASEKOO
Technology
Paramount Skydance Corporation Announces Extension of Expiration Dates of Previously Announced Exchange Offers and Tender Offers
Published
24 minutes agoon
July 24, 2026By
LOS ANGELES and NEW YORK, July 24, 2026 /PRNewswire/ — Paramount Skydance Corporation (NASDAQ: PSKY) (“Paramount”) today announced the extension of the Expiration Dates in connection with the previously announced (i) offers to purchase (the “Tender Offers” and each, a “Tender Offer”) for cash, upon the terms and subject to the conditions set forth in the related offer to purchase (the “Offer to Purchase”), any and all of the identified notes in each series of the Existing Tender Offer Notes (defined by reference to the table set forth below) issued by Discovery Global Holdings, Inc. (formerly WarnerMedia Holdings, Inc.) (the “DGH Issuer”) and Discovery Communications, LLC (the “DCL Issuer” and together with the DGH Issuer, each a “WBD Issuer” and collectively the “WBD Issuers”), as applicable, and (ii) offers to exchange (the “Exchange Offers” and each, an “Exchange Offer” and, together with the Tender Offers, the “Offers” and each, an “Offer”), upon the terms and subject to the conditions set forth in the related exchange offer memorandum (the “Offering Memorandum”), any and all of the identified notes in each series of the Existing Exchange Offer Notes (defined by reference to the table set forth below) (together with the Existing Tender Offer Notes, the “Offer Notes”) issued by the applicable WBD Issuer for notes to be newly issued by Paramount.
The Expiration Dates for the Tender Offers and Exchange Offers (as defined in each of the Offer to Purchase and Offering Memorandum, respectively) have been extended to 5:00 p.m., New York City time, on August 7, 2026, unless further extended. The Settlement Dates for the Tender Offers and Exchange Offers (as defined in each of the Offer to Purchase and Offering Memorandum, respectively) will occur promptly after the Expiration Date and are currently anticipated to occur in the third quarter of 2026. Paramount anticipates extending the Expiration Date for such Tender Offers and Exchange Offers until such time that would result in the Settlement Dates occurring on or promptly following the closing date of the proposed acquisition (the “Acquisition”) by Paramount of Warner Bros. Discovery, Inc. (“WBD”). Tenders of the Offer Notes in the Offers may be withdrawn at any time prior to the Expiration Date. The aforementioned extensions further extend the Expiration Dates previously extended by Paramount on June 12, 2026, June 26, 2026, July 13, 2026, and July 17, 2026.
As of 5:00 p.m., New York City time, on July 23, 2026, approximately 66.17% and 76.38% of the aggregate principal amount of the Existing Tender Offer Notes and Existing Exchange Offer Notes, respectively, have been validly tendered in the applicable Offers. As Paramount previously announced that it anticipates extending the Offers to align with the closing date of the Acquisition, Paramount does not view these figures to be representative of the final results of the applicable Offers.
Information about each series of Offer Notes eligible to participate in the Offers is summarized below.
Type of Offer
Offer Notes to be Tendered
or Exchanged, as
Applicable
Issuer of Offer Notes
CUSIP No. / Common Code
/ ISIN Eligible to
Participate in the Offers (1)
Aggregate Principal
Amount of Offer Notes
Eligible to Participate in the
Offers (2)
Tender Offer
3.950% Senior Notes due 2028
DCL Issuer
25470D CP2
US25470DCP24
$1,234,458,000
Exchange Offer
4.125% Senior Notes due 2029
DCL Issuer
25470D CQ0
US25470DCQ07
$655,825,000
Exchange Offer
3.625% Senior Notes due 2030
DCL Issuer
25470D CR8
US25470DCR89
$914,183,000
Exchange Offer
5.000% Senior Notes due 2037
DCL Issuer
25470D CS6
US25470DCS62
$453,281,000
Exchange Offer
6.350% Senior Notes due 2040
DCL Issuer
25470D CT4
US25470DCT46
$438,102,000
Exchange Offer
4.950% Senior Notes due 2042
DCL Issuer
25470D CU1
US25470DCU19
$130,366,000
Exchange Offer
4.875% Senior Notes due 2043
DCL Issuer
25470D V91 CV9US25470DC
$141,584,000
Exchange Offer
5.200% Senior Notes due 2047
DCL Issuer
25470D W74 CW7US25470DC
$3,161,000
Exchange Offer
5.300% Senior Notes due 2049
DCL Issuer
25470D X57 CX5US25470DC
$247,860,000
Tender Offer
3.755% Senior Notes due 2027
DGH Issuer
254948 AH5
US254948AH58
254948 AN2
US254948AN27
U25483 AA3
USU25483AA38
$1,189,336,000
Exchange Offer
4.054% Senior Notes due 2029
DGH Issuer
254948 AJ1
US254948AJ15
254948 AP7
US254948AP74
U25483 AB1
USU25483AB11
$1,353,828,000
Exchange Offer
4.279% Senior Notes due 2032
DGH Issuer
254948 AK8
US254948AK87
254948 AQ5
US254948AQ57
$2,691,764,000
Exchange Offer
5.050% Senior Notes due 2042
DGH Issuer
254948 AL6
US254948AL60
254948 AR3
US254948AR31
U25483 AD7
USU25483AD76
$4,104,687,000
Exchange Offer
5.141% Senior Notes due 2052
DGH Issuer
254948 AM4
US254948AM44
254948 AS1
US254948AS14
$949,883,000
Exchange Offer
4.302% Senior Notes due 2030
DGH Issuer
XS3393993285
339399328
€234,382,000
Exchange Offer
4.693% Senior Notes due 2033
DGH Issuer
XS3393994507
339399450
€316,641,000
1
No representation is made as to the correctness or accuracy of the identifiers listed in this press release or printed on the Offer Notes. Such identifiers are provided solely for the convenience of the holders.
2
Represents the aggregate principal amount of Offer Notes outstanding that are eligible to participate in the Offers.
The Exchange Offers are being made pursuant to an exemption from the registration requirements of the U.S. Securities Act of 1933, as amended (the “Securities Act”), and the rules and regulations of the Securities and Exchange Commission (the “SEC”) promulgated thereunder, and are also not being registered under any state or foreign securities laws. Any securities offered pursuant to the Exchange Offers may not be offered or sold in the United States or to any U.S. persons (as defined below) except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. The Exchange Offers will only be made, and the securities offered pursuant to the Exchange Offers are only being offered and issued, to holders of applicable Existing Exchange Offer Notes who are (a) reasonably believed to be “qualified institutional buyers” as defined in Rule 144A under the Securities Act or (b) not “U.S. persons,” as defined in Rule 902 of Regulation S under the Securities Act (such holders, “Eligible Holders”), and only Eligible Holders who have completed and returned the eligibility certification are authorized to receive or review the Offering Memorandum or to participate in the Exchange Offers. The eligibility certification is available electronically at: https://gbsc-usa.com/eligibility/paramount.
General
Each Offer is a separate offer, and each may be individually consummated, amended, extended, terminated, or withdrawn, subject to certain conditions and applicable law, at any time in Paramount’s sole discretion, and without also consummating, amending, extending, terminating, or withdrawing any other Offer with respect to any other series of Offer Notes. Paramount may terminate an Offer if any of the conditions of such Offer described in the Offer to Purchase or Offering Memorandum, as applicable, are not satisfied or waived by the applicable Expiration Date, subject to applicable law. In addition, Paramount may waive the conditions to an Offer without extending such Offer in accordance with applicable law.
The Offers are being made solely by Paramount and are not being made by WBD or the WBD Issuers. None of Paramount, WBD, the WBD Issuers, the Dealer Managers, the Exchange Agent (as defined below), the Information Agent (as defined below), the trustees under each of the indentures governing the Offer Notes, the trustee or collateral agent under the indenture that will govern the notes to be issued in the Exchange Offers, or any affiliate of any of them makes any recommendation as to whether any holder of Offer Notes should tender or refrain from tendering all or any portion of the principal amount of such holder’s Offer Notes for cash or notes to be issued in the Exchange Offers. No one has been authorized by any of them to make such a recommendation. Holders must make their own decision whether to tender Offer Notes in any Offer and, if so, the amount of Offer Notes to tender.
Only Eligible Holders may receive a copy of the Offering Memorandum and participate in the Exchange Offers. Paramount has engaged Global Bondholder Services Corporation to act as the exchange agent (in such capacity, the “Exchange Agent”) and information agent (in such capacity, the “Information Agent”) for the Offers. Questions concerning the Offers, or requests for additional copies of the Offer to Purchase or Offering Memorandum or other related documents, may be directed to Corporate Actions by telephone at (855) 654-2014 (U.S. toll-free) or (212) 430-3774 (banks and brokers) or by email at contact@gbsc-usa.com. Holders should also consult their broker, dealer, commercial bank, trust company or other institution for assistance concerning the Offers. The Exchange Offer documents and the Tender Offer documents can be accessed at the following link: https://gbsc-usa.com/paramount.
Paramount has engaged BofA Securities and Citigroup as dealer managers (in such capacity, the “Dealer Managers”) for the Offers. Holders with questions regarding the Offers should contact BofA Securities, Inc. at +1 (888) 292-0070 (toll-free) or +1 (980) 388-3646 (collect) or debt_advisory@bofa.com or Citigroup Global Markets Inc. at +1 (800) 558-3745 (toll-free) or +1 (212) 723-6106 or ny.liabilitymanagement@citi.com. Latham & Watkins LLP is serving as legal counsel to Paramount and Cahill Gordon & Reindel LLP is serving as legal counsel to the Dealer Managers.
This press release is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any security, and does not constitute an offer, solicitation, or sale of any security in any jurisdiction in which such offer, solicitation, or sale would be unlawful.
About Paramount, a Skydance Corporation
Paramount, a Skydance Corporation is a next-generation global media and entertainment company, comprised of three business segments: Studios, Direct-to-Consumer, and TV Media. PSKY’s portfolio unites legendary brands, including Paramount Pictures, Paramount Television, CBS, CBS News, CBS Sports, Nickelodeon, MTV, BET, Comedy Central, Showtime, Paramount+, Pluto TV, and Skydance Animation, Film, Television, Interactive/Games, and Paramount Sports Entertainment.
PSKY-IR
Cautionary Note Concerning Forward-Looking Statements
This communication contains “forward-looking statements” regarding the Acquisition and the other transactions referred to herein. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Paramount. Risks and uncertainties include, but are not limited to: the risk that the closing conditions for the Acquisition will not be satisfied, including the risk that clearances under applicable antitrust or regulatory laws will not be obtained or will be obtained subject to conditions that are not anticipated; the possibility that the transactions described herein will not be completed in the expected timeframe or at all; the occurrence of any event, change or other circumstances that could give rise to the termination of the Acquisition; potential adverse effects to the businesses of Paramount or WBD during the pendency of the Acquisition, such as employee departures or distraction of management from business operations; negative effects of the announcement or the consummation of the Acquisition on the market price of WBD or Paramount stock; the risk of stockholder litigation relating to the Acquisition, including resulting expense or delay; the potential that the expected benefits and opportunities of the Acquisition, if completed, may not be realized or may take longer to realize than expected; risks related to the streaming business of the post-Acquisition combined business (the “Combined Company”); the adverse impact on the Combined Company’s advertising revenues as a result of changes in consumer behavior, advertising market conditions, and deficiencies in audience measurement; risks related to operating in highly competitive and dynamic industries; the unpredictable nature of consumer behavior, as well as evolving technologies and distribution models; risks related to the Combined Company’s decision to invest in new businesses, products, services, and technologies, and the evolution of the Combined Company’s business strategy; the potential for loss of carriage or other reduction in, or the impact of negotiations for, the distribution of the Combined Company’s content; damage to the Combined Company’s reputation or brands; losses due to asset impairment charges for goodwill, content and long-lived assets, including finite-lived intangible assets; liabilities related to discontinued operations and former businesses; increasing scrutiny of, and evolving expectations for, sustainability initiatives; evolving business continuity, cybersecurity, privacy and data protection and similar risks; challenges in protecting and maintaining the Combined Company’s intellectual property rights; domestic and global political, economic and regulatory factors affecting the Combined Company’s business generally or the Acquisition; the inability to hire or retain key employees or secure creative talent; disruptions to the Combined Company’s operations as a result of labor disputes; risks and costs associated with the integration of, and Paramount’s ability to integrate, the businesses of Paramount Global, Skydance Media, LLC, and WBD successfully and to achieve anticipated synergies, including in the amounts or on the timelines anticipated to realize such synergies; litigation related to the Acquisition and other matters or transactions; risks associated with the Combined Company’s holding company structure, including its dependence on distributions from its subsidiaries to meet tax obligations and other cash requirements; risks related to our indebtedness, including our substantial outstanding debt obligations, our ability to incur substantially more debt and our ability to meet the financial and other covenants contained in the agreements governing the indebtedness of Paramount, WBD, or the Combined Company. A further list and description of these risks, uncertainties and other factors and the general risks associated with the respective businesses of Paramount and WBD can be found in Paramount’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on February 25, 2026, including in the sections captioned “Cautionary Note Concerning Forward-Looking Statements” and “Item 1A. Risk Factors,” Paramount’s most recently filed Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, filed with the SEC on May 4, 2026, including in the sections captioned “Cautionary Note Concerning Forward-Looking Statements” and “Item 1A. Risk Factors,” and Paramount’s subsequent filings with the SEC, and in WBD’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on February 27, 2026, including in the section captioned “Item 1A. Risk Factors,” WBD’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, filed with the SEC on May 6, 2026, and WBD’s subsequent filings with the SEC. Neither Paramount nor WBD undertakes to update any forward-looking statement as a result of new information or future events or developments, except as required by law.
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SOURCE Paramount Skydance Corporation
/U P D A T E — TrendAI/
Ralph Ye on 10 Years of Entrepreneurship at CASEKOO: Less Identity Shift, More Habits That Endure
Paramount Skydance Corporation Announces Extension of Expiration Dates of Previously Announced Exchange Offers and Tender Offers
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