Match Group Q3 2025 Earnings: Hinge Surges While Tinder Falters

Match Group, the titan behind dating apps like Tinder, Hinge, and OkCupid, recently released its financial results for the third quarter of 2025. Let's dive into the numbers from its latest 10-Q filing to see how the company is performing in the competitive world of digital romance. The report reveals a company in transition, with the surging growth of Hinge providing a powerful counterpoint to the challenges facing its flagship brand, Tinder.

For the three months ending September 30, 2025, Match Group reported total revenue of $914.3 million, a modest 2% increase from the same period last year. Net income attributable to shareholders saw a healthier jump of 18%, rising to $160.7 million.

To better understand where this money comes from and where it goes, the following flow diagram breaks down the company's quarterly income statement.

The "Unallocated" revenue represents inter-segment transactions, which are removed when combining the segments to avoid double-counting.

A Tale of Two Apps: Hinge Shines, Tinder Stumbles

The story within Match Group's portfolio is one of divergence, particularly between its two most prominent brands.

Hinge: The Growth Engine Hinge continues to be the standout performer. The brand, designed to be "deleted," posted direct revenue of $184.7 million, a remarkable 27% increase year-over-year. This growth was fueled by two key factors:

• A 17% increase in Payers (paying users), reaching 1.9 million.
• A 9% increase in Revenue Per Payer (RPP) to $32.87, indicating stronger monetization from each user.

This strong top-line performance translated into a 22% increase in Adjusted EBITDA (a measure of profitability before interest, taxes, depreciation, and amortization) to $62.6 million, cementing Hinge's role as Match Group's primary growth driver.

Tinder: Facing Headwinds In contrast, Tinder, the company's largest revenue source, is navigating a tougher period.

• Direct revenue declined 3% to $490.6 million.
• The number of Payers fell by 7% to 9.3 million, a concerning trend.

However, it's not all bad news. Tinder's Revenue Per Payer increased by 5%, softening the blow from the drop in paying users. A more significant issue this quarter was profitability. Tinder's operating income fell 22% to $183.7 million, which the company attributes "primarily due to costs associated with legal settlements and the decrease in revenue."

Rising Costs and Shareholder Returns

Beyond the brand-level performance, a notable item on the income statement was the 42% surge in General and Administrative (G&A) expenses, which reached $148.0 million for the quarter. This spike appears linked to the legal costs that also impacted Tinder's profitability.

On the capital management front, Match Group remains active. The company holds a solid cash position of over $1 billion. It continued its share buyback program, repurchasing approximately 3.7 million shares for $131 million during the quarter.

Looking Ahead

Match Group's Q3 results highlight a critical dynamic: the company is relying on Hinge's explosive growth to offset stagnation and profitability pressures at Tinder. While the broader portfolio of "Evergreen & Emerging" brands also saw a slight revenue decline, the spotlight remains fixed on the two giants. The key challenge for Match Group's leadership will be to stabilize the Tinder user base and manage its costs effectively, all while continuing to fuel the Hinge growth machine in an ever-evolving dating landscape.