Hello Group Inc. Announces Unaudited Financial Results for the Fourth Quarter and Fiscal Year 2024-sports moscowtrail-Report on major sports events around the world 24 hours a day

BEIJING,March 12,2025 -- 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 quarterand the full year ended December 31,2024.

FourthQuarter 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 Year2024 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.

FourthQuarter of 2024 Financial Results

Net revenues

Total net revenues were RMB2,636.5 million (US$361.2million) in the fourth quarter of 2024,a decrease of 12.2% from RMB3,002.9 million in thefourth 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 userswhich 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 2023to RMB2,423.1 million (US$332.0 million) in the fourth quarter of 2024,primarily due to the decrease in net revenues from live videoservice 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 2023to 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-addedservice.

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 2024,369.5 million during the same period of 2023.

Other operating income,net

Other operating income was RMB8.0 million (US$1.1 million)in the fourthquarter of 2024,compared to RMB30.8million during the fourthquarter of 2023. The decrease was primarilydue to reduced government incentives and input VAT super deduction in the fourth quarter of 2024.

Income from operations

Incomefrom 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. Incomefrom operations of the Momo segment wasRMB226.4 million (US$31.0 million) in the fourth quarter of 2024,which decreased from RMB576.9 million in the fourth quarter of 2023. Incomefrom 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 thefourth quarter of 2023.

Non-GAAP income from operations (note 1) was RMB279.9 million (US$38.4million) in the fourth quarter of 2024,compared to RMB664.2 million during the same period of 2023. Non-GAAP incomefrom operations of the Momo segment wasRMB269.4 million (US$36.9 million)in the fourth quarter of 2024,which decreased from RMB638.9 million in the fourth quarter of 2023. Non-GAAPincome 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,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 incomefrom theMomo segment was RMB176.3 million (US$24.2 million) in the fourth quarter of 2024,compared toRMB430.0million in the same period of 2023. Net incomefrom the Tantan segment was RMB11.8 million (US$1.6 million) in the fourth quarter of 2024,compared toRMB24.2 million in the fourth quarter of 2023.

Non-GAAP net income (note 1) was RMB230.5 million (US$31.6million) in the fourth quarter of 2024,compared to RMB514.7 million during the same period of 2023. Non-GAAP net incomefrom the Momo segment wasRMB219.3million (US$30.1 million) in the fourth quarter of 2024,which decreased fromRMB492.1million in the fourth quarter of 2023. Non-GAAPnet incomeof the Tantan segment was RMB12.0 million (US$1.7 million) in thefourth quarter of 2024,compared toRMB24.4 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 toRMB452.5million during the same period of 2023.

Non-GAAP net income (note 1) attributable to Hello Group Inc. was RMB230.5 million (US$31.6million) in thefourth quarter of 2024,compared to RMB514.7 million during the same period of 2023.

Net incomeper ADS

Diluted net incomeper ADS was RMB1.05 (US$0.14) in the fourth quarter of 2024,compared to RMB2.32in 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$2,017.8million),compared to RMB13,478.5million as of December 31,2023.

Net cash provided by operating activities in the fourth quarter of 2024 was RMB423.6 million (US$58.0million),compared to RMB415.9 million in thefourth quarter of 2023.

Full Year2024Financial Results

Net revenues for the full year of 2024 were RMB10,447.1 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 RMB1,224.7 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 2024,277.2 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,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,after the upsizing of the Share Repurchase Program,the remaining size of the program is US$222 million.

As of March 12,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,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,at8:00 a.m.U.S. Eastern Time (8:00 p.m. Beijing/Hong KongTime 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. ThroughMomo,Tantan and other properties within our product portfolio,we enable users to discover new relationships,expand their social connections and build meaningful interactions.Momois 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 inMay 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,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 firstquarter 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 firstquarter of 2025 and may be unable to grow our business in the manner planned. We may also modifyour 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

2023

2024

2023

2024

RMB

US$

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

Other services

3,798

1,251

171

23,594

4,009

550

Total net revenues

3,002,932

2,636,496

361,198

12,323

10,562,971

1,447,121

Cost and expenses:

Cost of revenues

(1,770,117)

(1,724,821)

(236,300)

(7,025,394)

(6,341)

(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.

452,957,581

1,420

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

Basic

376,317,036

349,401,183

349,183

377,639,399

369,312,997

369,997

Diluted

390,956,175

355,325,921

355,921

401,833,328

373,591,974

373,974

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

2023

2024

2023

2024

RMB

US$

RMB

US$

Net income

452,420

Other comprehensive (loss) income,net of tax:

Foreign currency translation adjustment

(95,774)

322,935

44,242

20,414

132,248

18,118

Comprehensiveincome

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

2023

2024

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

7,378

12,011,870

1,645,619

Long-term deposits

3,924,975

3,059,860

419,199

Long-term restricted cash

2,299

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

2,020

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

1,385

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

1,270

Total liabilities and shareholder's equity

16,456

(i): As ofDecember 31,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

2023

2024

2023

2024

RMB

US$

RMB

US$

Cash flows from operating activities:

Net income

452,469

187,235

25,649

1,695

1,573

142,420

Adjustments to reconcile net income to net cash provided by

operatingactivities:

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

70,643

(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

(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

1,994

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)

(136,720)

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

Cash received on investment income distribution

120

1,517

120

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

1,823

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

601

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

2,077

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

8,912

9,642,421

1,321,007

8,007

Hello Group Inc.

Reconciliation of Non-GAAP financial measures to comparable GAAP measures

(All amounts in thousands,except per share data)

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

Three months

Ended December 31,2023

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

US$

Cost of revenues

(1,117)

1,909

(1,768,208)

(1,821)

128

1,822

(1,722,871)

(236,300)

250

(236,032)

Research and development

(231,445)

13,375

(218,070)

(222,684)

120

10,198

(212,366)

(30,508)

1,397

(29,095)

Sales and marketing

(304,696)

8,653

(296,043)

(316,699)

521

4,480

(311,698)

(43,388)

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

(2,756)

62,224

(2,369,532)

(2,825)

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,and net income to comparable GAAP measures-continued.

Year

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

US$

Cost of revenues

(7,394)

6,307

(7,019,087)

(6,341)

128

7,643

(6,439,570)

(883,282)

1,047

(882,217)

Research and development

(884,590)

64,561

(820,029)

(804,425)

120

43,526

(760,779)

(110,206)

5,963

(104,227)

Sales and marketing

(1,949)

29,066

(1,385,883)

(1,780)

521

19,520

(1,309,739)

(182,179)

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

(9,412)

267,101

(9,560,311)

(9,204)

769

192,572

(8,895,863)

(1,216)

105

26,382

(1,218,729)

Income from operations

2,016

267,101

2,572,117

1,770

769

192,572

1,726,111

209,988

105

26,382

236,475

Net income attributable to Hello Group Inc.

1,581

267,224,682

1,573

769

192,232,914

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

RMB

US$

Net revenues:

Live video service

1,189,118

75,733

1,284

Value-added service

1,951

127,813

1,766

Mobile marketing

33,772

9,858

43,977

Other services

1,222

1,251

171

Total net revenues

2,423,063

213,404

2,198

Cost and expenses (ii):

Cost of revenues

(1,621,151)

(103,670)

(1,300)

Research and development

(181,255)

(41,429)

(222,508)

Sales and marketing

(267,065)

(48,978)

(656)

(316,388)

General and administrative

(134,200)

(9,124)

(297)

(143,676)

Total cost and expenses

(2,203,671)

(203,201)

(953)

(2,872)

Other operating income

7,032

928

8,098

Income (loss) from operations

226,424

11,131

(869)

236,424

Interest income

123,822

216

124,994

Interest expense

(36,846)

(36,048)

Other gain or loss,net

(46,639)

(46,390)

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

investments

266,761

11,347

(862)

277,980

Income tax (expenses) benefits

(89,919)

455

(33)

(89,261)

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

176,842

11,802

(895)

187,719

Share of loss on equity method investments

(514)

(70)

Net income (loss)

176,328

11,649

(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

RMB

US$

Cost of revenues

1,822

250

Research and development

9,956

242

10,198

1,397

Sales and marketing

4,480

614

General and administrative

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

RMB

US$

Income (loss) from operations

226,424

11,131

(869)

236,686

32,424

Share-based compensation

42,251

242

42,822

Amortization of intangible assets from

business acquisitions

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)

187,649

Share-based compensation

42,822

Amortization of intangible assets from

business acquisitions

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,2023

Momo

Tantan

QOOL

Total

RMB

US$[1]

Net revenues:

Live video service

1,730

100,155

1,885

214,635

Value-added service

1,358

160,535

1,893

200,692

Mobile marketing

33,395

11,520

44,915

6,326

Mobile games

5,441

766

Other services

1,760

2,038

3,798

535

Total net revenues

2,728,684

272,210

2,038

3,932

422,954

Cost and expenses (iii):

Cost of revenues

(1,638,915)

(130,237)

(965)

(1,117)

(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)

(17,181,224)

(246,665)

(3,867)

(2,756)

(342,506)

Other operating income,net

29,442

1,301

30,821

4,341

Income (loss) from operations

576,902

26,846

(1,751)

601,997

84,789

Interest income

124,294

124,354

17,515

Interest expense

(20,552)

(2,895)

Other gain or loss,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)

(5,451)

Net income (loss)

430,022

24,748)

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

RMB

US$

Cost of revenues

1,905

1,909

269

Research and development

13,194

181

13,375

1,884

Sales and marketing

8,653

1,219

General and administrative

38,279

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,2023

Momo

Tantan

QOOL

Total

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

62,765

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

RMB

US$

Net revenues:

Live video service

4,779,865

312,989

5,718

Value-added service

4,772,811

549,915

5,210

Mobile marketing

105,169

37,781

142,584

Mobile games

432

Other services

3,137

872

4,009

550

Total net revenues

9,661,414

900,685

872

10,121

Cost and expenses (iv):

Cost of revenues

(6,029,415)

(417,887)

(39)

(6,282)

Research and development

(643,457)

(160,968)

(804,206)

Sales and marketing

(1,103,475)

(220,966)

(5,339)

(1,179)

General and administrative

(473,778)

(32,868)

(1,012)

(507,549)

Total cost and expenses

(8,250,125)

(832,689)

(6,390)

(9,216)

Other operating income

56,069

2,853

59,083

Income (loss) from operations

1,467,358

70,849

(5,437)

1,988

Interest income

510,162

789

510,002

Interest expense

(127,846)

(127,515)

Other gain or loss,net

(90,509)

(90,400)

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

investments

1,759,165

71,638

(5,424)

1,075

Income tax expenses

(843,640)

(1,349)

(33)

(845,768)

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

915,525

70,289

(5,457)

980,307

Share of income on equity method investments

59,216

59,113

Net income (loss)

974,741

70,457)

1,420

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

Year

Ended December 31,2024

Momo

Tantan

QOOL

Total

RMB

US$

Cost of revenues

7,639

7,643

1,047

Research and development

38,452

5,074

43,526

5,963

Sales and marketing

19,520

2,674

General and administrative

121,867

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

RMB

US$

Income (loss) from operations

1,358

70,849

(5,437)

1,770

209,988

Share-based compensation

187,478

5,094

192,382

Amortization of intangible assets from

business acquisitions

769

105

Non-GAAP income (loss) from operations

1,655,605

75,943

(5,111

236,475

Net income (loss)

974,741

70,289

(5,457)

1,420

Share-based compensation

187,382

Amortization of intangible assets from

business acquisitions

769

105

Non-GAAP net income (loss)

1,162,988

75,383

(5,914

168,907

Hello Group Inc.

Unaudited Condensed Segment Report

(All amounts in thousands,2023

Momo

Tantan

QOOL

Total

RMB

US$

Net revenues:

Live video service

5,567,894

504,977

6,871

855,346

Value-added service

5,085,541

667,030

5,571

810,233

Mobile marketing

109,125

24,552

133,677

18,828

Mobile games

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

12,323

1,690,492

Cost and expenses (v):

Cost of revenues

(6,404,042)

(599,348)

(22,004)

(7,394)

(989,506)

Research and development

(664,340)

(220,250)

(884,590)

(124,592)

Sales and marketing

(1,138,505)

(268,652)

(7,792)

(1,949)

(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)

(9,412)

(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)

2,016

324,655

Interest income

435,451

713

436,253

61,445

Interest expense

(62,223)

(8,764)

Other gain or loss,net

(26,685)

(3,759)

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

investments

2,595,944

86,951

(30,534)

2,361

373,577

Income tax expenses

(623,844)

(6,179)

(630,023)

(88,737)

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

1,100

80,772

(30,338

284,840

Share of loss on equity method investments

(70,643)

(9,950)

Net income (loss)

1,901,457

80,534)

1,695

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

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

29,094

General and administrative

167,135

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

RMB

US$

Operating income (loss) from operations

2,401

86,238

(30,623)

2,016

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

(30,117

362,275

Net income (loss)

1,457

80,772

(30,534)

1,695

274,890

Share-based compensation

252,620

Non-GAAP net income (loss)

2,153,807

95,523

(30,796

312,510

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

2025-03-13 IDOPRESS

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