Form 6-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of December 2024

Commission File Number: 001-36765

 

 

Hello Group Inc.

 

 

20th Floor, Block B

Tower 2, Wangjing SOHO

No.1 Futongdong Street

Chaoyang District, Beijing 100102

People’s Republic of China

(Address of principal executive offices)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒   Form 40-F ☐

 

 

 


Exhibit Index

Exhibit 99.1—Press Release


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Hello Group Inc.
By   :   

/s/ Cathy Hui Peng

Name   :    Cathy Hui Peng
Title   :    Chief Financial Officer

Date: December 9, 2024

EX-99.1

Exhibit 99.1

Hello Group Inc. Announces Unaudited Financial Results for the Third Quarter of 2024

BEIJING, CHINA, December 9, 2024 – 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 third quarter of 2024.

Third Quarter of 2024 Highlights

 

   

Net revenues decreased by 12.1% year over year to RMB2,674.7 million (US$381.1 million*) in the third quarter of 2024.

 

   

Net income attributable to Hello Group Inc. decreased to RMB449.4 million (US$64.0 million) in the third quarter of 2024, from RMB546.4 million in the same period of 2023.

 

   

Non-GAAP net income attributable to Hello Group Inc. (note 1) decreased to RMB493.3 million (US$70.3 million) in the third quarter of 2024, from RMB605.9 million in the same period of 2023.

 

   

Diluted net income per American Depositary Share (“ADS”) was RMB2.46 (US$0.35) in the third quarter of 2024, compared to RMB2.75 in the same period of 2023.

 

   

Non-GAAP diluted net income per ADS (note 1) was RMB2.70 (US$0.38) in the third quarter of 2024, compared to RMB3.05 in the same period of 2023.

 

   

Monthly Active Users (“MAU”) on Tantan app were 12.0 million in September 2024, compared to 15.7 million in September 2023.

 

   

For the Momo app total paying users was 6.9 million for the third quarter of 2024, compared to 7.8 million for the same period last year. Tantan had 0.9 million paying users for the third quarter of 2024 compared to 1.4 million from the year ago period.

First Nine Months of 2024 Highlights

 

   

Net revenues decreased by 11.9% year over year to RMB7,926.5 million (US$1,129.5 million) for the first nine months of 2024.

 

   

Net income attributable to Hello Group Inc. was RMB852.3 million (US$121.5 million) for the first nine months of 2024, compared to RMB1,505.1 million during the same period of 2023.

 

   

Non-GAAP net income attributable to Hello Group Inc. (note 1) was RMB1,002.4 million (US$142.8 million) for the first nine months of 2024, compared to RMB1,710.0 million during the same period of 2023.

 

   

Diluted net income per ADS was RMB4.51(US$0.64) for the first nine months of 2024, compared to RMB7.52 during the same period of 2023.

 

   

Non-GAAP diluted net income per ADS (note 1) was RMB5.31(US$0.76) for the first nine months of 2024, compared to RMB8.53 during the same period of 2023.

“Q3 2024 was a fruitful quarter for us. We delivered satisfactory financial results and executed well against our strategic priorities across all business lines,” commented Yan Tang, Chairman and CEO of Hello Group. “ Our overseas business reaccelerated growth thanks to improved operational efficiency. Our team made good progress in advancing the localization process and expanding our product offering. This gives us more confidence to continue to invest firmly in more diversified overseas markets.”

 

* 

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 RMB7.0176 to US$1.00, the effective noon buying rate for September 30, 2024 as set forth in the H.10 statistical release of the Federal Reserve Board.

 

1


Third Quarter of 2024 Financial Results

Net revenues

Total net revenues were RMB2,674.7 million (US$381.1 million) in the third quarter of 2024, a decrease of 12.1% from RMB3,042.8 million in the third quarter of 2023.

Live video service revenues were RMB1,286.4 million (US$183.3 million) in the third quarter of 2024, a decrease of 16.0% from RMB1,530.8 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 RMB1,356.3 million (US$193.3 million) in the third quarter of 2024, a decrease of 7.5% from RMB1,466.7 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 and the short-term impact of the product upgrade on new user paying conversions. The decrease was partially offset by the revenue growth from the new standalone apps.

Mobile marketing revenues were RMB30.7 million (US$4.4 million) in the third quarter of 2024, compared to RMB30.7 million during the same period of 2023.

Net revenues from the Momo segment decreased from RMB2,743.1 million in the third quarter of 2023 to RMB2,462.3 million (US$350.9 million) in the third quarter of 2024, primarily due to the decrease in net revenues from value-added service and live video 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 RMB295.0 million in the third quarter of 2023 to RMB212.1 million (US$30.2 million) in the third 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 RMB2,286.2 million (US$325.8 million) in the third quarter of 2024, a decrease of 7.1% from RMB2,461.1 million in the third 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.

Non-GAAP cost and expenses (note 1) were RMB2,242.2 million (US$319.5 million) in the third quarter of 2024, a decrease of 6.6% from RMB2,401.6 million during the same period of 2023.

 

2


Income from operations

Income from operations was RMB410.7 million (US$58.5 million) in the third quarter of 2024, compared to RMB621.8 million during the same period of 2023. Income from operations of the Momo segment was RMB397.5 million (US$56.7 million) in the third quarter of 2024, which decreased from RMB618.6 million in the third quarter of 2023. Income from operations of the Tantan segment was RMB14.7 million (US$2.1 million) in the third quarter of 2024, which decreased from RMB24.0 million in the third quarter of 2023.

Non-GAAP income from operations (note 1) was RMB454.7 million (US$64.8 million) in the third quarter of 2024, compared to RMB681.2 million during the same period of 2023. Non-GAAP income from operations of the Momo segment was RMB441.0 million (US$62.8 million) in the third quarter of 2024, which decreased from RMB674.5 million in the third quarter of 2023. Non-GAAP income from operations of the Tantan segment was RMB15.2 million (US$2.2 million) in the third quarter of 2024, compared to RMB27.6 million in the third quarter of 2023.

Income tax expenses

Income tax expenses were RMB95.3 million (US$13.6 million) in the third quarter of 2024, compared to RMB158.1 million in the third 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 RMB449.4 million (US$64.0 million) in the third quarter of 2024, compared to RMB542.2 million during the same period of 2023. Net income from the Momo segment was RMB436.4 million (US$62.2 million) in the third quarter of 2024, compared to RMB540.0 million in the same period of 2023. Net income from the Tantan segment was RMB14.4 million (US$2.1 million) in the third quarter of 2024, compared to RMB23.0 million in the third quarter of 2023.

Non-GAAP net income (note 1) was RMB493.3 million (US$70.3 million) in the third quarter of 2024, compared to RMB601.6 million during the same period of 2023. Non-GAAP net income from the Momo segment was RMB479.9 million (US$68.4 million) in the third quarter of 2024, which decreased from RMB595.9 million in the third quarter of 2023. Non-GAAP net income of the Tantan segment was RMB14.9 million (US$2.1 million) in the third quarter of 2024, compared to RMB26.6 million in the third quarter of 2023.

Net income attributable to Hello Group Inc.

Net income attributable to Hello Group Inc. was RMB449.4 million (US$64.0 million) in the third quarter of 2024, compared to RMB546.4 million during the same period of 2023.

Non-GAAP net income (note 1) attributable to Hello Group Inc. was RMB493.3 million (US$70.3 million) in the third quarter of 2024, compared to RMB605.9 million during the same period of 2023.

Net income per ADS

Diluted net income per ADS was RMB2.46 (US$0.35) in the third quarter of 2024, compared to RMB2.75 in the third quarter of 2023.

 

3


Non-GAAP diluted net income per ADS (note 1) was RMB2.70 (US$0.38) in the third quarter of 2024, compared to RMB3.05 in the third quarter of 2023.

Cash and cash flow

As of September 30, 2024, the Company’s cash, cash equivalents, short-term deposits, long-term deposits, short-term restricted cash and long-term restricted cash totaled RMB14,782.2 million (US$2,106.4 million), compared to RMB13,478.5 million as of December 31, 2023.

Net cash provided by operating activities in the third quarter of 2024 was RMB341.0 million (US$48.6 million), compared to RMB582.5 million in the third quarter of 2023.

First Nine Months of 2024 Financial Results

Net revenues for the first nine months of 2024 were RMB7,926.5 million (US$1,129.5 million), a decrease of 11.9% from RMB8,999.4 million in the same period of 2023.

Net income attributable to Hello Group Inc. was RMB852.3 million (US$121.5 million) for the first nine months of 2024, compared to RMB1,505.1 million during the same period of 2023.

Non-GAAP net income attributable to Hello Group Inc. (note 1) was RMB1,002.4 million (US$142.8 million) for the first nine months of 2024, compared to RMB1,710.0 million during the same period of 2023.

Diluted net income per ADS was RMB4.51 (US$0.64) during the first nine months of 2024, compared to RMB7.52 in the same period of 2023.

Non-GAAP diluted net income per ADS (note 1) was RMB5.31 (US$0.76) during the first nine months of 2024, compared to RMB8.53 in the same period of 2023.

Net cash provided by operating activities was RMB1,216.4 million (US$173.3 million) during the first nine months of 2024, compared to RMB1,861.3 million in the same period of 2023.

Recent Development

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 so that the Company is authorized to, from time to time, acquire up to an aggregate of US$286.1 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.

 

4


As of December 9, 2024, the Company has repurchased 40.0 million ADSs for US$238.4 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$5.94 per ADS.

Business Outlook

For the fourth quarter of 2024, the Company expects total net revenues to be between RMB2.56 billion to RMB2.66 billion, representing a decrease of 14.7% to 11.4% 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 such adjustment 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 (loss) from operations, net income (loss), 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 such adjustment has no impact on income tax. A limitation of using these non-GAAP financial measures is that share-based compensation has 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 Monday, December 9, 2024, at 7:00 a.m. U.S. Eastern Time (8:00 p.m. Beijing / Hong Kong Time on December 9, 2024).

Participants can register for the conference call by navigating to:

https://s1.c-conf.com/diamondpass/10043397-w4b3f5.html.

 

5


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 December 16, 2024. The dial-in details for the replay are as follows:

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

Hong Kong: 800-930-639

Passcode: 10043397

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

 

6


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 fourth quarter of 2024, 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 third quarter of 2024 are preliminary, unaudited and subject to audit adjustment. In addition, we may not meet our financial outlook for the fourth quarter of 2024 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.

 

7


Hello Group Inc.

Unaudited Condensed Consolidated Statement of Operations

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

 

     Three months
Ended September 30
    First nine months
Ended September 30
 
     2023     2024     2024     2023     2024     2024  
     RMB     RMB     US$     RMB     RMB     US$  

Net revenues:

            

Live video service

     1,530,797       1,286,442       183,317       4,548,986       3,828,003       545,486  

Value-added service

     1,466,727       1,356,270       193,267       4,327,678       3,995,962       569,420  

Mobile marketing

     30,705       30,735       4,380       88,762       99,320       14,153  

Mobile games

     7,864       —        —        14,169       432       62  

Other services

     6,754       1,217       173       19,796       2,758       393  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total net revenues

     3,042,847       2,674,664       381,137       8,999,391       7,926,475       1,129,514  

Cost and expenses:

            

Cost of revenues

     (1,771,530     (1,623,723     (231,379     (5,255,277     (4,722,520     (672,954

Research and development

     (201,693     (196,382     (27,984     (653,145     (581,741     (82,897

Sales and marketing

     (373,942     (354,881     (50,570     (1,110,253     (1,013,081     (144,363

General and administrative

     (113,896     (111,174     (15,842     (376,981     (364,037     (51,875
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total cost and expenses

     (2,461,061     (2,286,160     (325,775     (7,395,656     (6,681,379     (952,089

Other operating income, net

     39,971       22,221       3,166       99,284       50,988       7,266  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Income from operations

     621,757       410,725       58,528       1,703,019       1,296,084       184,691  

Interest income

     96,791       134,875       19,220       311,899       386,919       55,136  

Interest expense

     (19,293     (34,809     (4,960     (41,671     (91,000     (12,967

Other gain or loss, net

     —        —        —        4,565       (43,870     (6,251
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

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

     699,255       510,791       72,788       1,977,812       1,548,133       220,609  

Income tax expenses

     (158,064     (95,298     (13,580     (446,646     (755,525     (107,661
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

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

     541,191       415,493       59,208       1,531,166       792,608       112,948  

Share of income (loss) on equity method investments

     974       33,876       4,827       (31,940     59,730       8,511  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net income

     542,165       449,369       64,035       1,499,226       852,338       121,459  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Less: net loss attributable to non-controlling interest

     (4,263     —        —        (5,886     —        —   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net income attributable to the shareholders of Hello Group Inc.

     546,428       449,369       64,035       1,505,112       852,338       121,459  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net income per share attributable to ordinary shareholders

            

Basic

     1.44       1.29       0.18       3.98       2.36       0.34  

Diluted

     1.37       1.23       0.18       3.76       2.26       0.32  

Weighted average shares used in calculating net income per ordinary share

            

Basic

     379,292,110       347,943,851       347,943,851       378,085,030       361,613,017       361,613,017  

Diluted

     398,296,690       365,942,405       365,942,405       405,490,366       377,697,017       377,697,017  

 

8


Hello Group Inc.

Unaudited Condensed Consolidated Statement of Comprehensive Income

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

 

     Three months     First nine months  
   Ended September 30     Ended September 30  
     2023     2024     2024     2023      2024     2024  
     RMB     RMB     US$     RMB      RMB     US$  

Net income

     542,165       449,369       64,035       1,499,226        852,338       121,459  

Other comprehensive income (loss), net of tax:

             

Foreign currency translation adjustment

     6,032       (287,150     (40,919     116,188        (190,687     (27,173
  

 

 

   

 

 

   

 

 

   

 

 

    

 

 

   

 

 

 

Comprehensive income

     548,197       162,219       23,116       1,615,414        661,651       94,286  

Less: comprehensive (loss) income attributed to the non-controlling interest

     (3,141     (6,400     (912     5,377        (2,114     (301
  

 

 

   

 

 

   

 

 

   

 

 

    

 

 

   

 

 

 

Comprehensive income attributable to Hello Group Inc.

     551,338       168,619       24,028       1,610,037        663,765       94,587  
  

 

 

   

 

 

   

 

 

   

 

 

    

 

 

   

 

 

 

 

9


Hello Group Inc.

Unaudited Condensed Consolidated Balance Sheets

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

 

     December 31      September 30      September 30  
     2023      2024      2024  
   RMB      RMB      US$  

Assets

        

Current assets

        

Cash and cash equivalents

     5,620,466        3,301,235        470,422  

Short-term deposits

     1,270,626        2,840,310        404,741  

Restricted cash

     10,147        4,084,937        582,099  

Accounts receivable, net of allowance for doubtful accounts of RMB12,780 and RMB12,490 as of December 31, 2023 and September 30, 2024, respectively

     201,517        186,374        26,558  

Amounts due from related parties

     7,258        —         —   

Prepaid expenses and other current assets

     723,364        1,008,208        143,668  
  

 

 

    

 

 

    

 

 

 

Total current assets

     7,833,378        11,421,064        1,627,488  

Long-term deposits

     3,924,975        3,354,400        477,998  

Long-term restricted cash

     2,652,299        1,201,311        171,185  

Right-of-use assets, net

     109,572        288,193        41,067  

Property and equipment, net

     659,033        879,996        125,398  

Intangible assets, net

     17,086        13,247        1,888  

Rental deposits

     12,962        13,257        1,889  

Long-term investments

     786,911        783,521        111,651  

Amounts due from RPT-non current

     20,000        —         —   

Other non-current assets

     180,052        161,702        23,042  

Deferred tax assets

     31,741        35,938        5,121  
  

 

 

    

 

 

    

 

 

 

Total assets

     16,228,009        18,152,629        2,586,727  
  

 

 

    

 

 

    

 

 

 

Liabilities and equity

        

Current liabilities

        

Accounts payable

     616,681        608,607        86,723  

Deferred revenue

     442,805        443,036        63,132  

Accrued expenses and other current liabilities

     630,617        600,435        85,561  

Amounts due to related parties

     4,314        —         —   

Lease liabilities due within one year

     60,008        154,969        22,083  

Income tax payable

     94,719        93,432        13,314  

Deferred consideration in connection with business acquisitions

     27,261        26,945        3,840  

Convertible Senior Notes-current

     —         19,394        2,764  

Long-term borrowings, current portion

     215,615        1,938,385        276,218  

Short-term borrowings

     —         2,365,535        337,086  
  

 

 

    

 

 

    

 

 

 

Total current liabilities

     2,092,020        6,250,738        890,721  

Deferred tax liabilities

     24,987        323,362        46,079  

Convertible Senior Notes

     19,571        —         —   

Long-term borrowings

     1,938,385        —         —   

Lease liabilities

     52,171        142,803        20,349  

Other non-current liabilities

     114,085        130,359        18,576  
  

 

 

    

 

 

    

 

 

 

Total liabilities

     4,241,219        6,847,262        975,725  

Shareholder’s equity (i)

     11,986,790        11,305,367        1,611,002  
  

 

 

    

 

 

    

 

 

 

Total liabilities and shareholder’s equity

     16,228,009        18,152,629        2,586,727  
  

 

 

    

 

 

    

 

 

 

 

(i):

As of September 30, 2024, the number of ordinary shares outstanding was 344,219,472.

 

10


Hello Group Inc.

Unaudited Condensed Consolidated Statement of Cash Flows

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

 

     Three months
Ended September 30
    First nine months
Ended September 30
 
     2023
RMB
    2024
RMB
    2024
US$
    2023
RMB
    2024
RMB
    2024
US$
 

Cash flows from operating activities:

            

Net income

     542,165       449,369       64,035       1,499,226       852,338       121,459  

Adjustments to reconcile net income to net cash provided by operating activities:

            

Depreciation of property and equipment

     17,467       13,144       1,873       59,098       40,979       5,839  

Amortization of intangible assets

     1,279       1,279       182       3,837       3,837       547  

Share-based compensation

     59,472       43,951       6,264       204,877       150,079       21,385  

Share of (income) loss on equity method investments

     (974     (33,876     (4,827     31,940       (59,730     (8,511

Gain on repurchase of convertible senior notes

     —        —        —        (4,565     —        —   

Cash received on distributions from equity method investments

     718       —        —        2,067       1,197       171  

Loss on long-term investments

     —        —        —        —        43,870       6,251  

Gain or loss on disposal of property and equipment

     (60     (142     (20     (520     (62     (9

Provision of (income) loss on receivable and other assets

     (133     1,754       250       10,071       3,675       524  

Changes in operating assets and liabilities:

            

Accounts receivable

     10,749       (3,876     (552     (9,916     11,952       1,703  

Prepaid expenses and other current assets

     (96,572     (97,212     (13,853     98,294       (91,846     (13,088

Amounts due from related parties

     (27,114     —        —        (27,059     —        —   

Rental deposits

     1,301       493       70       2,252       (309     (44

Deferred tax assets

     415       (117     (17     872       (4,195     (598

Other non-current assets

     (50,578     22,945       3,270       (27,639     (183,398     (26,134

Accounts payable

     6,987       16,036       2,285       38,825       (15,710     (2,239

Income tax payable

     24,215       35,209       5,017       20,496       (1,288     (184

Deferred revenue

     11,736       (838     (119     (11,137     568       81  

Accrued expenses and other current liabilities

     15,374       (3,390     (483     (172,186     61,357       8,743  

Amount due to related parties

     (8,401     —        —        (5,504     —        —   

Deferred tax liabilities

     47,681       (85,088     (12,125     130,198       294,333       41,942  

Other non-current liabilities

     26,741       (18,688     (2,663     17,757       108,705       15,490  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net cash provided by operating activities

     582,468       340,953       48,587       1,861,284       1,216,352       173,328  

Cash flows from investing activities:

            

Purchase of property and equipment

     (238,219     (19,796     (2,821     (259,463     (263,814     (37,593

Payment for long-term investments

     —        (28,000     (3,990     (9,000     (33,250     (4,738

Purchase of short-term deposits

     (531,214     (2,133,086     (303,962     (1,028,556     (2,133,086     (303,962

Cash received on maturity of short-term deposits

     1,900,000       —        —        5,409,820       1,081,016       154,044  

Cash received on investment income distribution

     —        —        —        1,517       —        —   

Purchase of long-term deposits

     (2,498,860     —        —        (3,848,860     (718,860     (102,437

Cash received on maturity of long-term deposits

     1,700,000       —        —        1,700,000       718,860       102,437  

Cash received from sales of long-term investment

     15,000       —        —        15,000       2,000       285  

Loan to a third-party company

     —        (96,680     (13,777     —        (96,680     (13,777

Other investing activities

     137       212       30       1,822       895       128  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net cash provided by (used in) investing activities

     346,844       (2,277,350     (324,520     1,982,280       (1,442,919     (205,613

Cash flows from financing activities:

            

Proceeds from exercise of share options

     551       4       1       570       17       2  

Repurchase of ordinary shares

     (58,767     (265,441     (37,825     (62,004     (772,263     (110,047

Repurchase of subsidiary’s share options

     (223     —        —        (4,319     —        —   

Dividends payment

     —        —        —        (937,249     (716,302     (102,072

Proceeds from short-term borrowings

     —        1,033,900       147,330       —        2,365,535       337,086  

Proceeds from long-term borrowings

     2,154,000       —        —        2,154,000       —        —   

Repayment of long-term borrowings

     —        (215,400     (30,694     —        (215,615     (30,725

Payment for redemption of convertible bonds

     (86,932     —        —        (2,679,942     —        —   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net cash provided by (used in) financing activities

     2,008,629       553,063       78,812       (1,528,944     661,372       94,244  

Effect of exchange rate changes

     (7,837     (178,773     (25,478     128,597       (130,234     (18,559
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net increase (decrease) in cash and cash equivalents

     2,930,104       (1,562,107     (222,599     2,443,217       304,571       43,400  

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

     4,711,714       10,149,590       1,446,305       5,198,601       8,282,912       1,180,306  

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

     7,641,818       8,587,483       1,223,706       7,641,818       8,587,483       1,223,706  

 

11


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 September 30, 2023     Ended September 30, 2024     Ended September 30, 2024  
    GAAP
RMB
    Share-based
compensation
RMB
    Non-GAAP
RMB
    GAAP
RMB
    Share-based
compensation
RMB
    Non-GAAP
RMB
    GAAP
US$
    Share-based
compensation
US$
    Non-GAAP
US$
 

Cost of revenues

    (1,771,530     1,211       (1,770,319     (1,623,723     2,143       (1,621,580     (231,379     305       (231,074

Research and development

    (201,693     14,993       (186,700     (196,382     11,030       (185,352     (27,984     1,573       (26,411

Sales and marketing

    (373,942     5,854       (368,088     (354,881     4,774       (350,107     (50,570     680       (49,890

General and administrative

    (113,896     37,414       (76,482     (111,174     26,004       (85,170     (15,842     3,706       (12,136
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Cost and operating expenses

    (2,461,061     59,472       (2,401,589     (2,286,160     43,951       (2,242,209     (325,775     6,264       (319,511

Income from operations

    621,757       59,472       681,229       410,725       43,951       454,676       58,528       6,264       64,792  

Net income attributable to Hello Group Inc.

    546,428       59,472       605,900       449,369       43,951       493,320       64,035       6,264       70,299  

 

12


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.

 

     First nine months     First nine months     First nine months  
   Ended September 30, 2023     Ended September 30, 2024     Ended September 30, 2024  
     GAAP
RMB
    Share-based
compensation
RMB
     Non-GAAP
RMB
    GAAP
RMB
    Share-based
compensation
RMB
     Non-GAAP
RMB
    GAAP
US$
    Share-based
compensation
US$
     Non-GAAP
US$
 

Cost of revenues

     (5,255,277     4,398        (5,250,879     (4,722,520     5,821        (4,716,699     (672,954     829        (672,125

Research and development

     (653,145     51,186        (601,959     (581,741     33,328        (548,413     (82,897     4,749        (78,148

Sales and marketing

     (1,110,253     20,413        (1,089,840     (1,013,081     15,040        (998,041     (144,363     2,143        (142,220

General and administrative

     (376,981     128,880        (248,101     (364,037     95,890        (268,147     (51,875     13,664        (38,211
  

 

 

   

 

 

    

 

 

   

 

 

   

 

 

    

 

 

   

 

 

   

 

 

    

 

 

 

Cost and operating expenses

     (7,395,656     204,877        (7,190,779     (6,681,379     150,079        (6,531,300     (952,089     21,385        (930,704

Income from operations

     1,703,019       204,877        1,907,896       1,296,084       150,079        1,446,163       184,691       21,385        206,076  

Net income attributable to Hello Group Inc.

     1,505,112       204,877        1,709,989       852,338       150,079        1,002,417       121,459       21,385        142,844  

 

13


Hello Group Inc.

Unaudited Condensed Segment Report

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

 

     Three months
Ended September 30, 2024
 
     Momo
RMB
    Tantan
RMB
    QOOL
RMB
    Total
RMB
    Total
US$
 

Net revenues:

          

Live video service

     1,219,890       66,552       —        1,286,442       183,317  

Value-added service

     1,219,115       137,155       —        1,356,270       193,267  

Mobile marketing

     22,368       8,367       —        30,735       4,380  

Other services

     899       —        318       1,217       173  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total net revenues

     2,462,272       212,074       318       2,674,664       381,137  

Cost and expenses (ii):

          

Cost of revenues

     (1,523,515     (100,171     (37     (1,623,723     (231,379

Research and development

     (160,161     (36,221     —        (196,382     (27,984

Sales and marketing

     (298,630     (55,033     (1,218     (354,881     (50,570

General and administrative

     (103,438     (7,175     (561     (111,174     (15,842
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total cost and expenses

     (2,085,744     (198,600     (1,816     (2,286,160     (325,775

Other operating income

     21,021       1,200       —        22,221       3,166  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Income (loss) from operations

     397,549       14,674       (1,498     410,725       58,528  

Interest income

     134,605       268       2       134,875       19,220  

Interest expense

     (34,809     —        —        (34,809     (4,960
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

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

     497,345       14,942       (1,496     510,791       72,788  

Income tax expenses

     (94,777     (521     —        (95,298     (13,580
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

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

     402,568       14,421       (1,496     415,493       59,208  

Share of income on equity method investments

     33,876       —        —        33,876       4,827  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net income (loss)

     436,444       14,421       (1,496     449,369       64,035  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

(ii)

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

 

     Three months
Ended September 30, 2024
 
     Momo
RMB
     Tantan
RMB
     QOOL
RMB
     Total
RMB
     Total
US$
 

Cost of revenues

     2,143        —         —         2,143        305  

Research and development

     10,533        497        —         11,030        1,573  

Sales and marketing

     4,774        —         —         4,774        680  

General and administrative

     26,002        2        —         26,004        3,706  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total cost and expenses

     43,452        499        —         43,951        6,264  

 

14


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 September 30, 2024
 
     Momo
RMB
     Tantan
RMB
     QOOL
RMB
    Total
RMB
     Total
US$
 

Income (loss) from operations

     397,549        14,674        (1,498     410,725        58,528  

Share-based compensation

     43,452        499        —        43,951        6,264  
  

 

 

    

 

 

    

 

 

   

 

 

    

 

 

 

Non-GAAP income (loss) from operations

     441,001        15,173        (1,498     454,676        64,792  

Net income (loss)

     436,444        14,421        (1,496     449,369        64,035  

Share-based compensation

     43,452        499        —        43,951        6,264  
  

 

 

    

 

 

    

 

 

   

 

 

    

 

 

 

Non-GAAP net income (loss)

     479,896        14,920        (1,496     493,320        70,299  

 

15


Hello Group Inc.

Unaudited Condensed Segment Report

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

 

     Three months
Ended September 30, 2023
 
     Momo
RMB
    Tantan
RMB
    QOOL
RMB
    Total
RMB
    Total
US$1
 

Net revenues:

          

Live video service

     1,410,844       119,953       —        1,530,797       209,813  

Value-added service

     1,298,329       168,398       —        1,466,727       201,031  

Mobile marketing

     24,039       6,666       —        30,705       4,208  

Mobile games

     7,864       —        —        7,864       1,078  

Other services

     1,981       —        4,773       6,754       927  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total net revenues

     2,743,057       295,017       4,773       3,042,847       417,057  

Cost and expenses (iii):

          

Cost of revenues

     (1,606,261     (145,346     (19,923     (1,771,530     (242,808

Research and development

     (151,649     (50,044     —        (201,693     (27,644

Sales and marketing

     (298,919     (71,978     (3,045     (373,942     (51,253

General and administrative

     (105,339     (5,656     (2,901     (113,896     (15,611
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total cost and expenses

     (2,162,168     (273,024     (25,869     (2,461,061     (337,316

Other operating income, net

     37,750       1,985       236       39,971       5,478  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Income (loss) from operations

     618,639       23,978       (20,860     621,757       85,219  

Interest income

     96,680       94       17       96,791       13,266  

Interest expense

     (19,293     —        —        (19,293     (2,644
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

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

     696,026       24,072       (20,843     699,255       95,841  

Income tax expenses

     (156,992     (1,072     —        (158,064     (21,664
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

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

     539,034       23,000       (20,843     541,191       74,177  

Share of income on equity method investments

     974       —        —        974       133  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net income (loss)

     540,008       23,000       (20,843     542,165       74,310  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

(iii)

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

 

     Three months
Ended September 30, 2023
 
     Momo
RMB
     Tantan
RMB
     QOOL
RMB
     Total
RMB
     Total
US$
 

Cost of revenues

     1,207        4        —         1,211        166  

Research and development

     11,401        3,592        —         14,993        2,055  

Sales and marketing

     5,854        —         —         5,854        802  

General and administrative

     37,406        8        —         37,414        5,128  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total cost and expenses

     55,868        3,604        —         59,472        8,151  

 

 

1 

All translations from RMB to U.S. dollars are made at a rate of RMB7.2960 to US$1.00, the effective noon buying rate for September 29, 2023 as set forth in the H.10 statistical release of the Federal Reserve Board.

 

16


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 September 30, 2023
 
     Momo
RMB
     Tantan
RMB
     QOOL
RMB
    Total
RMB
     Total
US$
 

Income (loss) from operations

     618,639        23,978        (20,860     621,757        85,219  

Share-based compensation

     55,868        3,604        —        59,472        8,151  
  

 

 

    

 

 

    

 

 

   

 

 

    

 

 

 

Non-GAAP income (loss) from operations

     674,507        27,582        (20,860     681,229        93,370  

Net income (loss)

     540,008        23,000        (20,843     542,165        74,310  

Share-based compensation

     55,868        3,604        —        59,472        8,151  
  

 

 

    

 

 

    

 

 

   

 

 

    

 

 

 

Non-GAAP net income (loss)

     595,876        26,604        (20,843     601,637        82,461  

 

17


Hello Group Inc.

Unaudited Condensed Segment Report

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

 

     First nine months  
   Ended September 30, 2024  
     Momo     Tantan     QOOL     Total     Total  
     RMB     RMB     RMB     RMB     US$  

Net revenues:

          

Live video service

     3,590,747       237,256       —        3,828,003       545,486  

Value-added service

     3,573,860       422,102       —        3,995,962       569,420  

Mobile marketing

     71,397       27,923       —        99,320       14,153  

Mobile games

     432       —        —        432       62  

Other services

     1,915       —        843       2,758       393  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total net revenues

     7,238,351       687,281       843       7,926,475       1,129,514  

Cost and expenses (iv):

          

Cost of revenues

     (4,408,264     (314,217     (39     (4,722,520     (672,954

Research and development

     (462,202     (119,539     —        (581,741     (82,897

Sales and marketing

     (836,410     (171,988     (4,683     (1,013,081     (144,363

General and administrative

     (339,578     (23,744     (715     (364,037     (51,875
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total cost and expenses

     (6,046,454     (629,488     (5,437     (6,681,379     (952,089

Other operating income

     49,037       1,925       26       50,988       7,266  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Income (loss) from operations

     1,240,934       59,718       (4,568     1,296,084       184,691  

Interest income

     386,340       573       6       386,919       55,136  

Interest expense

     (91,000     —        —        (91,000     (12,967

Other gain or loss, net

     (43,870     —        —        (43,870     (6,251
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

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

     1,492,404       60,291       (4,562     1,548,133       220,609  

Income tax expenses

     (753,721     (1,804     —        (755,525     (107,661
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

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

     738,683       58,487       (4,562     792,608       112,948  

Share of income on equity method investments

     59,730       —        —        59,730       8,511  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net income (loss)

     798,413       58,487       (4,562     852,338       121,459  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

(iv)

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

 

     First nine months  
     Ended September 30, 2024  
     Momo      Tantan      QOOL      Total      Total  
     RMB      RMB      RMB      RMB      US$  

Cost of revenues

     5,817        4        —         5,821        829  

Research and development

     28,496        4,832        —         33,328        4,749  

Sales and marketing

     15,040        —         —         15,040        2,143  

General and administrative

     95,874        16        —         95,890        13,664  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total cost and expenses

     145,227        4,852        —         150,079        21,385  

 

18


Hello Group Inc.

Reconciliation of GAAP and NON-GAAP Results of Unaudited Segment Report

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

 

     First nine months  
     Ended September 30, 2024  
     Momo      Tantan      QOOL     Total      Total  
     RMB      RMB      RMB     RMB      US$  

Income (loss) from operations

     1,240,934        59,718        (4,568     1,296,084        184,691  

Share-based compensation

     145,227        4,852        —        150,079        21,385  
  

 

 

    

 

 

    

 

 

   

 

 

    

 

 

 

Non-GAAP income (loss) from operations

     1,386,161        64,570        (4,568     1,446,163        206,076  

Net income (loss)

     798,413        58,487        (4,562     852,338        121,459  

Share-based compensation

     145,227        4,852        —        150,079        21,385  
  

 

 

    

 

 

    

 

 

   

 

 

    

 

 

 

Non-GAAP net income (loss)

     943,640        63,339        (4,562     1,002,417        142,844  

 

19


Hello Group Inc.

Unaudited Condensed Segment Report

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

 

     First nine months  
   Ended September 30, 2023  
     Momo     Tantan     QOOL     Total     Total  
     RMB     RMB     RMB     RMB     US$  

Net revenues:

          

Live video service

     4,144,164       404,822       —        4,548,986       623,490  

Value-added service

     3,821,183       506,495       —        4,327,678       593,158  

Mobile marketing

     75,730       13,032       —        88,762       12,166  

Mobile games

     14,169       —        —        14,169       1,942  

Other services

     14,577       —        5,219       19,796       2,713  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total net revenues

     8,069,823       924,349       5,219       8,999,391       1,233,469  

Cost and expenses (v):

          

Cost of revenues

     (4,765,127     (469,111     (21,039     (5,255,277     (720,296

Research and development

     (483,997     (169,148     —        (653,145     (89,521

Sales and marketing

     (894,462     (210,208     (5,583     (1,110,253     (152,173

General and administrative

     (349,614     (19,600     (7,767     (376,981     (51,670
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total cost and expenses

     (6,493,200     (868,067     (34,389     (7,395,656     (1,013,660

Other operating income

     95,876       3,110       298       99,284       13,608  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Income (loss) from operations

     1,672,499       59,392       (28,872     1,703,019       233,417  

Interest income

     311,157       656       86       311,899       42,749  

Interest expense

     (41,671     —        —        (41,671     (5,711

Other gain or loss, net

     4,565       —        —        4,565       626  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

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

     1,946,550       60,048       (28,786     1,977,812       271,081  

Income tax expenses

     (443,175     (3,471     —        (446,646     (61,218
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

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

     1,503,375       56,577       (28,786     1,531,166       209,863  

Share of loss on equity method investments

     (31,940     —        —        (31,940     (4,378
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net income (loss)

     1,471,435       56,577       (28,786     1,499,226       205,485  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

(v)

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

 

     First nine months  
     Ended September 30, 2023  
     Momo      Tantan      QOOL      Total      Total  
     RMB      RMB      RMB      RMB      US$  

Cost of revenues

     4,262        136        —         4,398        603  

Research and development

     36,793        14,393        —         51,186        7,016  

Sales and marketing

     20,408        5        —         20,413        2,798  

General and administrative

     128,856        24        —         128,880        17,664  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total cost and expenses

     190,319        14,558        —         204,877        28,081  

 

20


Hello Group Inc.

Reconciliation of GAAP and NON-GAAP Results of Unaudited Segment Report

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

 

     First nine months  
     ended September 30, 2023  
     Momo      Tantan      QOOL     Total      Total  
     RMB      RMB      RMB     RMB      US$  

Operating income (loss)

     1,672,499        59,392        (28,872     1,703,019        233,417  

Share-based compensation

     190,319        14,558        —        204,877        28,081  
  

 

 

    

 

 

    

 

 

   

 

 

    

 

 

 

Non-GAAP operating income (loss)

     1,862,818        73,950        (28,872     1,907,896        261,498  

Net income (loss)

     1,471,435        56,577        (28,786     1,499,226        205,485  

Share-based compensation

     190,319        14,558        —        204,877        28,081  
  

 

 

    

 

 

    

 

 

   

 

 

    

 

 

 

Non-GAAP net income (loss)

     1,661,754        71,135        (28,786     1,704,103        233,566  

 

21