Hello Group Inc. Announces Unaudited Financial Results for the Fourth Quarter and Fiscal Year 2024

Rhea-AI Summary

Hello Group Inc. (NASDAQ: MOMO) reported its Q4 and FY2024 financial results, showing declining metrics across major segments. Q4 net revenues decreased 12.2% YoY to RMB2,636.5 million (US$361.2 million), while net income fell to RMB187.2 million from RMB452.5 million in Q4 2023.

User metrics showed significant declines: Tantan app's MAU dropped to 10.8 million (vs 13.7 million in 2023), while Momo app's paying users decreased to 5.7 million (vs 7.4 million). For full year 2024, net revenues decreased 12.0% to RMB10,563.0 million.

The company announced a special cash dividend of US$0.30 per ADS and expanded its share repurchase program to US$486.1 million, extending it until March 2027. The Q1 2025 outlook projects revenues between RMB2.4-2.5 billion, representing a 2.4-6.3% YoY decrease.

Positive

• Overseas business maintained robust growth momentum
• Board approved US$200M increase in share repurchase program
• Declared special cash dividend of US$0.30 per ADS
• Strong cash position of RMB14,728.5M (US$2,017.8M)

Negative

• Q4 net revenues decreased 12.2% YoY
• Net income declined 58.6% YoY in Q4
• Monthly Active Users on Tantan dropped 21.2% YoY
• Total paying users decreased 23% YoY on Momo app
• Q1 2025 guidance projects continued revenue decline

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.

FAQ

What are Hello Group's (MOMO) Q4 2024 financial results?

Q4 2024 net revenues decreased 12.2% YoY to RMB2,636.5M, with net income falling to RMB187.2M from RMB452.5M in Q4 2023.

How much is MOMO's special cash dividend announced for 2025?

Hello Group declared a special cash dividend of US$0.30 per ADS, payable on April 30, 2025, totaling approximately US$50 million.

What is the new share repurchase program size for MOMO stock?

The share repurchase program was upsized to US$486.1M total, with US$222M remaining as of March 12, 2025, extended until March 2027.

What is Hello Group's (MOMO) revenue guidance for Q1 2025?

The company expects Q1 2025 revenues between RMB2.4-2.5 billion, representing a decrease of 2.4-6.3% year over year.

How many paying users does MOMO have in Q4 2024?

Momo app had 5.7M paying users in Q4 2024 (down from 7.4M), while Tantan had 0.9M paying users (down from 1.2M).