Hello Group Inc. Announces Unaudited Financial Results for the First Quarter of 2026

BEIJING, June 2, 2026 /PRNewswire/ -- Hello Group Inc. (NASDAQ: MOMO) ("Hello Group" or the "Company"), a leading player in Asia's online social networking space, today announced its unaudited financial results for the first quarter of 2026.

First Quarter of 2026 Highlights

[*] 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 RMB6.8980 to US$1.00, the effective noon buying rate for March 31, 2026 as set forth in the H.10 statistical release of the Federal Reserve Board.

"In the first quarter of 2026, the Group maintained steady business momentum." commented Yan Tang, Chairman and CEO of Hello Group. "Guided by our strategic focus, our domestic business continued to sustain the healthy operation of the cash cow business through a focus on product innovation and refined operations. Leveraging the synergy of a diversified product portfolio, our overseas business has maintained a positive development trend. Looking ahead, we are confident in our ability to execute on the strategic roadmap for each business line in 2026."

First Quarter of 2026 Financial Results

Net revenues

Total net revenues were RMB2,386.0 million (US$345.9 million) in the first quarter of 2026, a decrease of 5.3% from RMB2,520.8 million in the first quarter of 2025.

Value-added service revenues mainly include virtual gift revenues from various audio, video and text-based scenarios, and membership subscription revenues. Total value-added service revenues were RMB2,353.6 million (US$341.2 million) in the first quarter of 2026, a decrease of 5.5% from RMB2,489.9 million during the same period of 2025. The decrease was primarily due to external factors that influenced the operational focus of certain broadcasters and agencies on Momo app, which are still in recovery, and to a lesser extent, the decline in Tantan resulting from a decline in user base. The decrease was largely offset by the revenue growth from our overseas apps, driven by the rapid expansion from multiple social entertainment and dating brands across our rich portfolio.

Other services revenues were RMB32.3 million (US$4.7 million) in the first quarter of 2026, compared to RMB30.9 million during the same period of 2025.

Net revenues from Chinese mainland decreased from RMB2,106.2 million in the first quarter of 2025 to RMB1,788.6 million (US$259.3 million) in the first quarter of 2026, primarily due to the decrease in net revenues from Momo app and Tantan app. Net revenues from overseas increased from RMB414.6 million in the first quarter of 2025 to RMB597.4 million (US$86.6 million) in the first quarter of 2026, driven by the growth of audio- and video-based products in the Middle East and North Africa ("MENA") region, primarily by the new apps, along with incremental revenue from dating brands outside of MENA.

Cost and expenses

Cost and expenses were RMB2,088.7 million (US$302.8 million) in the first quarter of 2026, a decrease of 6.5% from RMB2,234.5 million in the first quarter of 2025. The decrease was primarily attributable to: (a) a decrease in revenue sharing with broadcasters on Momo app, partially offset by an increased revenue sharing with virtual gift recipients on overseas apps; (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; and (c) partially offset by increased investment in marketing for our new overseas apps while we continued to reduce marketing expenses for China apps.

Non-GAAP cost and expenses (note 1) were RMB2,049.3 million (US$297.1 million) in the first quarter of 2026, compared to RMB2,188.8 million during the same period of 2025.

Income from operations

Income from operations was RMB309.7 million (US$44.9 million) in the first quarter of 2026, compared to RMB299.5 million during the same period of 2025.

Non-GAAP income from operations (note 1) was RMB349.2 million (US$50.6 million) in the first quarter of 2026, compared to RMB345.3 million during the same period of 2025.

Interest income

Interest income was RMB54.0 million (US$7.8 million) in the first quarter of 2026, compared to RMB120.3 million during the same period of 2025. The decrease was primarily attributable to: (a) a reduction in the total volume of interest-bearing funds, as a result of bank loan repayments, the distribution of a special cash dividend, settlement of withholding tax accrued for prior periods, certain acquisitions and investments, and payment under the Company's Share Repurchase Program; (b) a lower proportion of high-yield US dollar funds in the total funds; and (c) a drop in the yield of both US dollar and RMB funds due to falling market interest rates.

Income tax expenses

Income tax expenses were RMB79.9 million (US$11.6 million) in the first quarter of 2026, compared to RMB70.4 million in the first quarter of 2025.

Share of income on equity method investments

Share of income on equity method investments was RMB8.5 million (US$1.2 million) in the first quarter of 2026, compared to RMB39.7 million during the same period of 2025. The decrease was primarily attributable to lower fair value gains recognized from an investment in an open mutual fund.

Net income

Net income was RMB291.5 million (US$42.3 million) in the first quarter of 2026, compared to RMB358.5 million during the same period of 2025.

Non-GAAP net income (note 1) was RMB329.3 million (US$47.7 million) in the first quarter of 2026, compared to RMB404.3 million during the same period of 2025.

Net income attributable to the shareholders of Hello Group Inc.

Net income attributable to the shareholders of Hello Group Inc. was RMB291.0 million (US$42.2 million) in the first quarter of 2026, compared to RMB358.0 million during the same period of 2025.

Non-GAAP net income (note 1) attributable to the shareholders of Hello Group Inc. was RMB328.8 million (US$47.7 million) in the first quarter of 2026, compared to RMB403.8 million during the same period of 2025.

Net income per ADS

Diluted net income per ADS was RMB1.81 (US$0.26) in the first quarter of 2026, compared to RMB2.07 in the first quarter of 2025.

Non-GAAP diluted net income per ADS (note 1) was RMB2.05 (US$0.30) in the first quarter of 2026, compared to RMB2.34 in the first quarter of 2025.

Cash and cash flow

As of March 31, 2026, the Company's cash, cash equivalents, short-term deposits, short-term investments, short-term restricted cash and long-term deposits totaled RMB8,561.0 million (US$1,241.1 million), compared to RMB8,677.6 million as of December 31, 2025.

Net cash provided by operating activities in the first quarter of 2026 was RMB158.9 million (US$23.0 million), compared to RMB239.7 million in the first quarter of 2025.

Recent Development

Payment of a special cash dividend

In March 2026, Hello Group's board of directors declared a special cash dividend in the amount of US$0.28 per ADS, or US$0.14 per ordinary share. The cash dividend was paid in April 2026 to shareholders of record at the close of business on April 10, 2026. The aggregate amount of cash dividends paid was US$41.2 million.

Share repurchase program

As of June 2, 2026, the Company has repurchased 63.7 million ADSs for US$399.5 million on the open market under the Share Repurchase Program announced on June 7, 2022 and amended on March 14, 2024 and March 12, 2025, at an average purchase price of US$6.25 per ADS. The remaining size of the program is US$86.6 million.

Business Outlook

For the second quarter of 2026, the Company expects total net revenues to be between RMB2.45 billion and RMB2.55 billion, representing a decrease of 6.5% to 2.7% 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, amortization of intangible assets from business acquisitions and tax impacts related to the amortization of intangible assets from business acquisitions.

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 the shareholders of Hello Group Inc., and diluted net income per ADS) is adjusted from the most comparable GAAP results to exclude share-based compensation, amortization of intangible assets from business acquisitions, and tax impacts related to the amortization of intangible assets from business acquisitions. A limitation of using these non-GAAP financial measures is that share-based compensation, amortization of intangible assets from business acquisitions and tax impacts related to the 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 Tuesday, June 2, 2026, at 7:00 a.m. U.S. Eastern Time (7:00 p.m. Beijing / Hong Kong Time on June 2, 2026).

Participants can register for the conference call by navigating to:

https://s1.c-conf.com/diamondpass/10054808-suvwn2.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 June 10, 2026. The dial-in details for the replay are as follows:

U.S. / Canada: 1-855-883-1031

Hong Kong: 800-930-639

Passcode: 10054808

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 Asia'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. Since 2019, we have continuously expanded our portfolio through internal incubation and strategic acquisitions, adding apps such as Hertz, Soulchill, and Happn. These products target more niche markets and selective user demographics both domestically and internationally, further strengthening our global presence.

For investor and media inquiries, please contact:

Hello Group Inc.

Investor Relations

Phone: +852-3157-1669

Email: [email protected]

Christensen

In China

Ms. Xiaoyan Su

Phone: +86-10-5900-1548

E-mail: [email protected]

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 second quarter of 2026, 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 first quarter of 2026 are preliminary, unaudited and subject to audit adjustment. In addition, we may not meet our financial outlook for the second quarter of 2026 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

Ended March 31

2025

2026

RMB

US$

Net revenues(i):

Value-added service

2,489,902

2,353,649

341,207

Other services

30,933

32,327

4,687

Total net revenues

2,520,835

2,385,976

345,894

Cost and expenses:

Cost of revenues

(1,569,074)

(1,463,328)

(212,138)

Research and development

(195,769)

(177,106)

(25,675)

Sales and marketing

(329,178)

(343,241)

(49,759)

General and administrative

(140,511)

(105,048)

(15,229)

Total cost and expenses

(2,234,532)

(2,088,723)

(302,801)

Other operating income, net

13,182

12,490

1,811

Income from operations

299,485

309,743

44,904

Interest income

120,338

54,017

7,831

Interest expense

(30,659)

(52)

(8)

Other gain or loss, net

(895)

(130)

Income before income tax and share of income on equity method investments

389,164

362,813

52,597

Income tax expenses

(70,406)

(79,850)

(11,576)

Income before share of income on equity method investments

318,758

282,963

41,021

Share of income on equity method investments

39,731

8,538

1,238

Net income

358,489

291,501

42,259

Less: net income attributable to non-controlling interest

495

453

Net income attributable to the shareholders of Hello Group Inc.

357,994

291,048

42,193

Net income per share attributable to ordinary shareholders

Basic

1.05

0.92

0.13

Diluted

1.04

0.91

0.13

Weighted average shares used in calculating net income per ordinary share

Basic

339,405,347

315,359,212

Diluted

345,905,274

321,322,687

(i) The following table presents revenues by geographic area based on the addresses of our customers of our users:

Three months

Ended March 31

2025

2026

RMB

US$

Chinese mainland

2,106,233

1,788,568

259,288

Overseas

414,602

597,408

86,606

Total

2,520,835

2,385,976

345,894

Hello Group Inc.

Unaudited Condensed Consolidated Statement of Comprehensive Income

(All amounts in thousands, except share and per share data)

Three months

Ended March 31

2025

2026

RMB

US$

Net income

358,489

291,501

42,259

Other comprehensive loss, net of tax:

Foreign currency translation adjustment

(43,338)

(74,295)

(10,771)

Comprehensive income

315,151

217,206

31,488

Less: comprehensive loss attributed to the non-controlling interest

(599)

(2,700)

(391)

Comprehensive income attributable to the shareholders of Hello

Group Inc.

315,750

219,906

31,879

Hello Group Inc.

Unaudited Condensed Consolidated Balance Sheets

(All amounts in thousands, except share and per share data)

December 31

March 31

2025

2026

RMB

US$

Assets

Current assets

Cash and cash equivalents

5,320,022

5,408,023

783,999

Short-term deposits

3,112,207

2,856,680

414,132

Restricted cash

120,612

103,470

15,000

Short-term investment

124,713

162,778

23,598

Accounts receivable, net of allowance for credit losses of RMB18,623 and

RMB18,958 as of December 31, 2025 and March 31, 2026, respectively

246,208

416,065

60,317

Amounts due from related parties

21,751

18,433

2,672

Prepaid expenses and other current assets

791,317

754,846

109,430

Total current assets

9,736,830

9,720,295

1,409,148

Long-term deposits

30,000

4,349

Right-of-use assets, net

118,799

78,356

11,359

Property and equipment, net

1,420,030

1,408,232

204,151

Intangible assets, net

240,716

225,481

32,688

Rental deposits

3,585

4,891

709

Long-term investments

1,514,042

1,526,586

221,308

Other non-current assets

114,384

115,408

16,731

Deferred tax assets

34,614

36,024

5,222

Goodwill

596,299

579,765

84,048

Total assets

13,779,299

13,725,038

1,989,713

Liabilities and equity

Current liabilities

Accounts payable

584,557

569,131

82,506

Deferred revenue

468,221

468,313

67,891

Accrued expenses and other current liabilities

848,679

769,462

111,549

Lease liabilities due within one year

83,590

58,752

8,517

Income tax payable

44,787

35,198

5,103

Deferred consideration in connection with business acquisitions-current

47,839

47,180

6,840

Long-term borrowings, current portion

2,118

1,957

284

Dividends payable

284,426

41,233

Total current liabilities

2,079,791

2,234,419

323,923

Lease liabilities

39,986

27,708

4,017

Deferred tax liabilities

531,996

550,249

79,769

Long-term borrowings

3,133

2,324

337

Other non-current liabilities

39,605

49,661

7,199

Total liabilities

2,694,511

2,864,361

415,245

Shareholder's equity (ii)

11,084,788

10,860,677

1,574,468

Total liabilities and shareholder's equity

13,779,299

13,725,038

1,989,713

(ii): As of March 31, 2026, the number of ordinary shares outstanding was 295,494,802.

Hello Group Inc.

Unaudited Condensed Consolidated Statement of Cash Flows

(All amounts in thousands, except share and per share data)

Three months

Ended March 31

2025

2026

RMB

US$

Cash flows from operating activities:

Net income

358,489

291,501

42,259

Adjustments to reconcile net income to net cash provided by operating

activities:

Depreciation of property and equipment

12,391

15,828

2,295

Amortization of intangible assets

6,191

9,410

1,364

Share-based compensation

40,860

31,305

4,539

Share of income on equity method investments

(39,731)

(8,538)

(1,238)

Gain or loss on fair value changes of short-term investments

895

130

Returns on investments

508

Gain or loss on disposal of property and equipment

(102)

Provision of loss on receivable and other assets

5,405

435

Changes in operating assets and liabilities:

Accounts receivable

(19,144)

(171,970)

(24,930)

Prepaid expenses and other current assets

11,375

53,628

7,774

Amounts due from related parties

(142)

(21)

Rental deposits

(110)

(17)

(2)

Deferred tax assets

340

(1,451)

(210)

Other non-current assets

35,046

38,767

5,620

Accounts payable

(13,543)

(14,677)

(2,128)

Income tax payable

(100,979)

(9,516)

(1,380)

Deferred revenue

9,035

1,083

157

Accrued expenses and other current liabilities

(70,983)

(95,293)

(13,815)

Deferred tax liabilities

12,713

18,922

2,743

Other non-current liabilities

(8,040)

(1,266)

(184)

Net cash provided by operating activities

239,721

158,904

23,036

Cash flows from investing activities:

Purchase of property and equipment

(27,814)

(15,161)

(2,198)

Payment for long-term investments

(18,000)

(2,609)

Payment for business acquisition

(194,390)

Purchase of term deposits

(110,000)

(15,947)

Cash received on maturity of term deposits

1,257,245

326,904

47,391

Payment for short-term investments

(40,798)

(5,914)

Returns of investments

1,303

189

Loan to a third-party company

(27,478)

Loan to a related party

(3,930)

(570)

Cash received from repayment of loans to a related party

7,390

1,071

Other investing activities

192

Net cash provided by investing activities

1,007,755

147,805

21,427

Cash flows from financing activities:

Proceeds from exercise of share options

Repurchase of ordinary shares

(201,529)

(187,184)

(27,136)

Advance payment for acquisition of non-controlling interest

(20,918)

(3,032)

Repayment of short-term borrowings

(1,690,535)

Repayment of long-term borrowings

(395)

(732)

(106)

Net cash used in financing activities

(1,892,457)

(208,831)

(30,274)

Effect of exchange rate changes

(25,685)

(27,019)

(3,916)

Net (decrease) increase in cash and cash equivalents

(670,666)

70,859

10,273

Cash, cash equivalents and restricted cash at the beginning of period

9,642,421

5,440,634

788,726

Cash, cash equivalents and restricted cash at the end of period

8,971,755

5,511,493

798,999

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, income from operations, and net income to comparable GAAP measures.

Three months

Ended March 31, 2025

Ended March 31, 2026

GAAP

Amortization of

intangible assets

from business

acquisitions

Share-based

compensation

Non-GAAP

GAAP

Amortization of

intangible assets

from business

acquisitions

Share-based

compensation

Tax impacts(iii)

Non-GAAP

GAAP

Amortization of

intangible

assets from

business

acquisitions

Share-based

compensation

Tax

impacts(iii)

Non-GAAP

RMB

US$

Cost of revenues

(1,569,074)

1,263

1,774

(1,566,037)

(1,463,328)

1,583

2,526

(1,459,219)

(212,138)

229

366

(211,543)

Research and development

(195,769)

859

9,060

(185,850)

(177,106)

1,678

10,194

(165,234)

(25,675)

243

1,478

(23,954)

Sales and marketing

(329,178)

2,790

4,311

(322,077)

(343,241)

4,869

2,923

(335,449)

(49,759)

706

424

(48,629)

General and administrative

(140,511)

25,715

(114,796)

(105,048)

15,662

(89,386)

(15,229)

2,271

(12,958)

Cost and operating expenses

(2,234,532)

4,912

40,860

(2,188,760)

(2,088,723)

8,130

31,305

(2,049,288)

(302,801)

1,178

4,539

(297,084)

Income from operations

299,485

4,912

40,860

345,257

309,743

8,130

31,305

349,178

44,904

1,178

4,539

50,621

Net income attributable to the shareholders of Hello Group Inc.

357,994

4,912

40,860

403,766

291,048

8,130

31,305

(1,653)

328,830

42,193

1,178

4,539

(240)

47,670

(iii) Includes tax impacts related to the amortization of intangible assets from business acquisition. There is no tax impact related to share-based compensation.

SOURCE Hello Group Inc.