What changed in this filing

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Item 1. Business

2026-02-26 compared with 2025-02-27 · 533 added, 211 removed, 46 unchanged (94% of the section changed)

Match Group, Inc., through its portfolio companies, is a leading provider of digital technologies designed to help people make meaningful connections.

Our global portfolio of brands includes Tinder ® , Hinge ® , Match ® , Meetic ® , OkCupid ® , Pairs™, Plenty Of Fish ® , Azar ® , BLK ® , and more, each built to increase our users’ likelihood of connecting with others.

Through our trusted brands, we provide tailored services to meet the varying preferences of our users.

Our services are available in over 40 languages to our users all over the world.

As used herein, “Match Group,” the “Company,” “we,” “our,” “us,” and similar terms refer to Match Group, Inc.

Match Group, Inc., through its portfolio companies, is a leading provider of digital technologies designed to

help people make meaningful connections.

Our global portfolio of brands includes Tinder ® , Hinge ® , Match ® ,

Meetic ® , OkCupid ® , Pairs™, Plenty Of Fish ® , Azar ® , BLK ® , and more, each built to increase our users’ likelihood of

connecting with others.

Through our trusted brands, we provide tailored services to meet the varying

preferences of our users.

As used herein, “Match Group,” the “Company,” “we,” “our,” “us,” and similar terms refer to Match Group,

and its subsidiaries, unless the context indicates otherwise.

The business of creating meaningful connections

Our goal is to spark meaningful connections for users around the world.

Consumers’ preferences vary significantly, influenced in part by demographics, geography, cultural norms, religion, and intent (for example, seeking friendship, casual dating, or more serious relationships).

As a result, the market for social connection apps is fragmented, and no single service has been able to effectively serve all of those seeking social connections.

Prior to the proliferation of the internet and mobile devices, human connections traditionally were limited by social circles, geography, and time.

People met through work colleagues, friends and family, in school, at church, at social gatherings, in bars and restaurants, or in other social settings.

Today, the adoption of mobile technology and the internet has significantly expanded the ways in which people can create new interactions, and develop meaningful connections and relationships.

Additionally, the ongoing adoption of technology into more aspects of daily life continues to further erode biases and stigmas across the world that previously served as barriers to individuals using technology to help find and develop those connections.

We believe that technologies that bring people together serve as a natural extension of the traditional means of meeting people and provide a number of benefits for users, including:

Our goal is to spark meaningful connections for every single person worldwide.

preferences vary significantly, influenced in part by demographics, geography, cultural

norms, religion, and intent (for example, casual dating or more serious relationships).

result, the market for social connection apps is fragmented, and no single service has been

able to effectively serve all of those seeking social connections.

Human connection is a fundamental need, yet the ways people meet and build relationships

have evolved significantly over time.

Historically, connections were shaped by physical proximity and social

circles such as the workplace, schools, religious institutions, social gatherings, and local communities.

mobile technology and the internet play a central role in how people can create new interactions and develop

meaningful connections.

Additionally, the increasing integration of technology into daily life has contributed to

broader acceptance of digital tools for connecting with others, eroding biases and stigmas across the world,

which previously served as barriers that limited adoption.

We believe that technologies that bring people together serve as a natural extension of the traditional

means of meeting people and provide a number of benefits for users, including:

• Expanded options :

Social connection apps provide users access to a large pool of people they otherwise would not have a chance to meet.

Social connection apps provide users access to a large pool of people they otherwise

would not have a chance to meet.

• Efficiency :

The search and recommending features, as well as the profile information available on social connection apps, allow users to filter a large number of individuals in a short period of time, increasing the likelihood that users will make a connection with someone.

The search and recommending features, as well as the profile information available on social

connection apps, allow users to better navigate potential connections more effectively.

• More comfort and control :

Compared to the traditional ways that people meet, social connection apps provide an environment that reduces the awkwardness around identifying and reaching out to new people who are interested in connecting.

This leads to many people who would otherwise be passive participants taking a more active role.

• Safely meet new people:

Social connection apps can offer a safer way to contact new people for the first-time by allowing people to limit the amount of personal information exchanged and providing an opportunity to vet a new connection before meeting in person, including via video communication.

Compared to the traditional ways that people meet, social connection apps

provide an environment that reduces the awkwardness around identifying and reaching out to new

people who are interested in connecting.

This reduces friction and increases the likelihood that more

people will engage.

• Trust and Safety :

Social connection apps can offer a safer way to contact new people for the first-time

by allowing people to limit the amount of personal information exchanged and providing an

opportunity to vet a new connection before meeting in person, including via video communication.

• Convenience :

The nature of the internet and the proliferation of mobile devices allow users to connect with new people at any time, regardless of where they are.

Depending on a person’s circumstances at any given time, social connection apps can act as a supplement to, or substitute for, traditional means of meeting people.

When selecting a social connection app, we believe that users consider the following attributes:

• Brand recognition and scale :

The internet and mobile access allow users to connect with new people at any time,

regardless of where they are.

Depending on a person’s circumstances, social connection apps can act as a supplement to, or substitute

for, traditional means of meeting people.

When selecting a social connection app, we believe that users consider

the following attributes:

• Brand recognition, trust, and scale :

Brand is very important.

Users generally associate strong brands with a higher likelihood of success and more tools to help the user connect safely and securely.

Generally, successful brands depend on large, active communities of users, strong algorithmic filtering technology, and awareness of successful usage among similar users.

• Successful experiences :

Demonstrated success of other users attracts new users through word-of-mouth recommendations.

Successful experiences also drive repeat usage.

• Community identification :

Users typically look for social connection apps that offer a community or communities to which the user can relate.

By selecting a social connection app that is focused on a particular demographic, religion, geography, or intent, users can increase the likelihood that they will make a connection with someone with whom they identify.

Users generally associate strong brands

with a higher likelihood of success and more tools to help the user connect safely and securely.

Generally, successful brands depend on large, active communities of users, strong algorithmic filtering

technology, and awareness of successful usage among similar users.

• Success and outcomes :

Demonstrated success of other users attracts new users through word-of-

mouth recommendations.

Positive outcomes drive initial adoption and repeat usage.

• Relevance and sense of belonging :

Users typically look for social connection apps that align with their

demographic, religion, geography, or intent.

Through offering a sense of community, the perceived

relevance of potential connections increases.

• Service features and user experience :

Users tend to gravitate towards social connection apps that offer features and user experiences that resonate with them, such as question-based matching algorithms, location-based features, or search capabilities.

User experience is also driven by the type of user interface (for example, using our patented Swipe ® technology versus scrolling), a particular mix of free and paid features, ease of use, privacy, and security.

Users expect every interaction with a social connection app to be seamless and intuitive.

Given varying consumer preferences, we have adopted a brand portfolio approach, through which we attempt to offer social connection apps that collectively appeal to the broadest spectrum of consumers.

We believe that this approach maximizes our ability to attract additional users.

Users tend to gravitate towards social connection apps that offer

features and user experiences that resonate with them, such as question-based matching algorithms,

location-based features, or search capabilities.

User experience is also driven by the type of user

interface (for example, Swipe® based discovery or scroll-based profile exploration), a particular mix of

free and paid features, ease of use, privacy, and security.

Users expect every interaction with a social

connection app to be seamless and intuitive.

Our portfolio

Tinder ® was launched in 2012 and has since risen to scale and popularity faster than any other service in the online dating category.

Tinder’s patented Swipe ® technology has led to significant adoption, particularly among 18 to 25 year-old users, who were historically underserved by the online dating category.

Tinder employs a freemium model, through which users are allowed to enjoy many of the core features of Tinder for free, including limited use of the Swipe Right ® feature with unlimited communication with other users.

However, to enjoy premium features, such as unlimited use of the Swipe Right feature, a Tinder user must subscribe to one of several subscription offerings:

We operate a portfolio of differentiated brands designed to serve distinct user needs, preferences, and

relationship intents.

Collectively, our brands span a range of connection experiences, from discovery-oriented

interaction to highly intentional relationship building, as well as demographic- and community-based

This portfolio approach allows users to engage with products that reflect how they want to connect

at a given point in time.

Tinder ®, launched in 2012, rose to scale and popularity faster than any other service in the online dating

Tinder emphasizes low-pressure discovery supported by its patented Swipe® technology.

achieved significant and rapid adoption, particularly among 18 to 30 year-old users, who were historically

underserved by the online dating category.

Tinder employs a freemium model, through which users are allowed

to enjoy many of the core features of Tinder for free, including limited use of the Swipe Right® feature with

unlimited communication with other users.

However, to enjoy premium features, such as unlimited use of the

Swipe Right® feature or the ability to “See Who Likes You”, a Tinder user must subscribe to one of several

subscription offerings:

Tinder Plus®, Tinder Gold®, or Tinder Platinum®.

Tinder users and subscribers may also pay for certain premium features, such as Super Likes™ and Boosts, on a pay-per-use basis.

Tinder Explore is an additional feature available for users to discover and interact with others in ways that are non-traditional to Tinder.

Hinge ® launched in 2012 and has grown to be a popular app for relationship-minded individuals, particularly among the millennial and younger generations, in English speaking countries and several other European markets.

Hinge is a mobile-only experience and employs a freemium model.

Hinge is Designed to be Deleted® and focuses on users with a higher level of intent to enter into a relationship and its services are designed to reinforce that purpose.

Hinge has Video Prompts, Voice Prompts, and Voice Notes, which allows users to better showcase who they are through text, photos, video, and voice at different points in their dating journey.

Hinge offers two premium subscription offerings:

Tinder users and subscribers may also

pay for certain premium features, such as Super Likes™ and Boosts, on a pay-per-use basis.

Hinge ® launched in 2012 and has grown to be a popular app for individuals seeking intentional and

relationship-oriented connections in English speaking countries and several other international markets.

a mobile-only experience and employs a freemium model.

Hinge is Designed to be Deleted® and focuses on

users with a higher level of intent to enter into a relationship and its services are designed to reinforce that

Hinge has Video and Voice Prompts, and Voice Notes, in addition to AI-enabled features, which allow

users to better showcase who they are at different points in their dating journey.

Hinge offers two premium

subscription offerings:

Hinge+ and HingeX.

Evergreen & Emerging (“E&E”)

Our collections of brands within E&E include well-known pioneers in online relationships (which we refer to as Evergreen brands) and newer brands which target specific demographics (which we refer to as Emerging brands).

Our collections of brands within E&E include well-known pioneers in online relationships (which we refer to

as Evergreen brands) and newer brands designed to serve specific communities, demographics, and identities

(which we refer to as Emerging brands).

The following brands are included in E&E:

The Match ® platform was launched in 1995 and helped create the online dating category with the ability to search profiles and receive algorithmic recommendations.

Match is a brand that focuses on users with a higher level of intent to enter into a serious relationship and its services and marketing are designed to reinforce that purpose.

Match was launched in 1995 and helped create the online dating category with the ability to search

profiles and receive algorithmic recommendations.

Match is a brand that focuses on users with a higher level of

intent to enter into a serious relationship and its services and marketing are designed to reinforce that purpose.

Meetic , a leading European online dating brand based in France, was launched in 2001.

Meetic is the most recognized dating app for singles over age 35 in Europe.

Meetic is a brand that focuses on users with a higher level of intent to enter into a serious relationship and its service and marketing are designed to reinforce that purpose.

Meetic also has online audio and video chat rooms available for users.

The OkCupid ® service was launched in 2004 and has attracted users through a Q&A approach to the dating category.

OkCupid relies on a freemium model and has a loyal, culturally progressive user base predominately located in larger metropolitan areas in English-speaking markets.

Plenty Of Fish.

The Plenty Of Fish ® dating service launched in 2003.

Among its distinguishing features is the ability to both search profiles and receive algorithmic recommendations.

Plenty Of Fish has grown in popularity over the years and relies on a freemium model.

Plenty Of Fish has broad appeal in the United States, Canada, the United Kingdom, and a number of other international markets.

BLK ® brings the Swipe ® feature made popular by Tinder to the Black community.

Meetic is the most

recognized dating app for singles over age 35 in France.

Meetic is a brand that focuses on users with a higher

level of intent to enter into a serious relationship and its service and marketing are designed to reinforce that

OkCupid launched in 2004 and has attracted users through a Q&A approach to the dating category.

OkCupid relies on a freemium model and has a loyal, culturally progressive user base predominately located in

larger metropolitan areas in English-speaking markets.

Plenty Of Fish launched in 2003.

Among its distinguishing features is the ability to both search profiles and

receive algorithmic recommendations.

Plenty Of Fish relies on a freemium model.

Plenty Of Fish has broad

appeal in the United States, Canada, the United Kingdom, and a number of other international markets.

BLK ®, Chispa ®, Upward ®, Salams ®, HER ®, Archer ®, Yuzu ®, The League ®, and other

affinity-based brands, serve communities defined by shared culture, values, or

Match Group Asia (“MG Asia”)

The focus of the MG Asia brands has primarily been to serve various Asian and Middle Eastern markets.

Recently, Azar has expanded into European and U.S.

The following brands are included in MG Asia:

The Pairs™ app was launched in 2012 and is a leading provider of online dating services in Japan, with a presence in Taiwan and South Korea.

Pairs is a dating platform that was specifically designed to address social barriers generally associated with the use of dating services in Japan.

Azar ® was launched in 2014 and acquired in 2021 through our acquisition of Hyperconnect.

Azar is a one-to-one video chat service that allow users to meet and interact with a variety of people across the globe in their native language.

Azar is primarily focused in the Middle East region, with growth in Western Europe and recent expansion into the U.S.

Pairs launched in 2012 and is a leading provider of online dating services in Japan, with a presence in

Taiwan and South Korea.

Pairs is a dating platform that was specifically designed to address social barriers

generally associated with the use of dating services in Japan.

Azar launched in 2014 and was acquired in 2021.

Azar is a one-to-one video chat service that allows users

to meet and interact with a variety of people across the globe in their native language.

Azar is available in the

Middle East region and has expanded into other international markets including Europe.

On February 22, 2026, Apple removed the Azar app from the Apple App Store, resulting in users being

unable to initiate new downloads of Azar from the Apple App Store.

In available markets, users can sign up for

and continue to access the app through the web or Google Play Store and existing iOS users who had

downloaded the app through the App Store prior to the removal can currently continue to access and use the

app, including the ability to execute purchases and renewals.

For additional information, see “Item 7—

Management’s Discussion and Analysis of Financial Condition and Results of Operations—Management

Overview—Trends affecting our business—MG Asia.”

Our Portfolio Strategy

We strive to empower individual brand leaders with the authority and incentives to grow their respective brands.

Our brands compete with each other and with third-party businesses on brand characteristics, service features, and business model, however we also work to apply a centralized discipline and share best practices across our brands in order to quickly introduce new services and features, optimize marketing, increase growth, reduce costs, improve user safety, and maximize profitability.

Additionally, we centralize certain other administrative functions, such as legal, accounting, finance, treasury, real estate and facilities, and tax.

We attempt to centrally facilitate excellence and efficiency across the entire portfolio by:

• centralizing operational functions across certain brands where we have strength in personnel and sufficient commonality of business interest (for example, ad sales, online marketing, and business technology are centralized across some, but not all, brands);

• developing talent across the portfolio to allow for development of specific proficiencies and promoting career advancement while maintaining the ability to deploy the best talent in the most critical positions across the company at any given time;

• sharing analytics to leverage services and marketing successes across our businesses rapidly for competitive advantage.

We believe an effective portfolio strategy

begins with an understanding of the challenges

individuals face when seeking connection today.

Many people experience pressure when meeting

Others encounter noise , as an

abundance of options can feel overwhelming.

Additionally, some experience alienation ,

seeking spaces where they feel a sense of

To address these challenges, we

introduced a simple framework to articulate

how we position our brands across three

complementary dimensions:

Fun , Focus , and

Familiarity .

Together, these reflect how we

believe individuals approach connection and

provide different ways to engage depending on

individuals’ needs and preferences.

• Fun emphasizes creating engaging,

lower-pressure ways to meet new

Brands oriented toward Fun help reduce the pressure often associated with initiating

• Focus emphasizes intentional experiences that help users navigate connection with greater purpose.

• Familiarity emphasizes belonging, serving communities defined by shared values, culture, or

experiences and helping users feel understood and accepted.

Our brands span these dimensions, with some solely speaking to one element and others operating at the

intersection of two elements.

For example, brands such as Tinder emphasize Fun ;

Hinge emphasizes Focus ;

our affinity-based brands emphasize Familiarity .

Several Evergreen and Emerging brands, including Match,

Meetic, Plenty of Fish, OurTime, and OkCupid, combine elements of these dimensions, reflecting the varied ways

individuals seek connection over time.

This framework allows us to focus on how we offer differentiated services that collectively address a broad

spectrum of user needs while maintaining clear roles and positioning for individual brands.

It also provides a lens

for innovation, experimentation, and portfolio evolution as user behaviors, technologies, and external forces

Operationally, we strive to empower individual leaders to grow their respective brands.

compete with each other and with third-party businesses on brand characteristics, service features, and business

However, we also work to apply a centralized discipline and share best practices across our brands in

order to quickly introduce new services and features, optimize marketing, increase growth, reduce costs,

improve user safety, and maximize profitability – an approach we call “One MG”.

Additionally, we centralize

certain administrative and operational functions to promote efficiency, consistency, and effective oversight

across the portfolio.

Our centralized functions include legal, finance, accounting, treasury, tax, human resources,

and real estate and facilities.

We further support the portfolio by:

• operating shared services across brands, including trust and safety and moderation, certain technology

and data platforms, media buying, and regional go-to-market capabilities;

• centralizing select commercial, technical, and operational capabilities where scale, expertise, and

common business needs exist;

• developing and deploying talent across the portfolio to build specialized skills and support priority

• promoting cross-brand collaboration and knowledge-sharing in areas such as marketing optimization,

infrastructure and cloud utilization, recommendation systems, and user engagement;

• sharing analytics and insights to support consistent measurement, inform decision-making, and improve

portfolio-wide performance.

Through this approach and strategy, we believe our portfolio is positioned to serve a wide range of

connection needs while operating efficiently and responsibly at scale.

Staying competitive

The industry for social connection apps is competitive and has no single, dominant brand globally.

We compete with a number of other companies that provide similar technologies for people to meet each other, including other online dating platforms;

other social media platforms and social-discovery apps, such as Facebook, Instagram (owned by Meta), Snap, TikTok, Twitter/X, LinkedIn (owned by Microsoft), Twitch (owned by Amazon), and YouTube (owned by Alphabet);

compete with a number of other companies that provide technologies for people to meet each other, including

other online dating platforms;

social media platforms and social-discovery apps, such as Facebook and Instagram

(both owned by Meta), Snap, TikTok, X, LinkedIn (owned by Microsoft), Twitch (owned by Amazon), and

YouTube (owned by Alphabet);

offline dating services, such as in-person matchmakers;

and other traditional means of meeting people.

We believe that our ability to attract new users to our brands as well as retain existing users will depend primarily upon the following factors:

• our ability to increase consumer acceptance and adoption of technologies to meet other people, particularly among younger generations being first introduced to our services and in emerging markets and parts of the world where the associated stigma has not yet fully eroded;

• continued growth in internet access and smart phone adoption in certain regions of the world, particularly emerging markets;

• the continued strength of our well-known brands and the growth of our emerging brands;

and other traditional

means of meeting people.

We believe that our ability to attract new users to our brands as well as retain existing users will depend

primarily upon the following factors:

• our ability to adapt to how consumers discover, evaluate, and engage with each other and with social

connection apps, particularly among younger generations and in emerging markets and parts of the

world where the associated stigma has not yet fully eroded;

• continued growth in internet access and smart phone adoption in certain regions of the world,

particularly emerging markets;

• the continued strength, differentiation, and evolution of our well-known brands and the growth of our

E merging brands;

• the authenticity, breadth, and depth of our active communities of users;

• our brands’ reputations for trust and safety;

• our ability to evolve our services and introduce new services to keep up with user requirements, social trends, and the ever-evolving technological landscape;

• our brands’ ability to keep up with the constantly changing regulatory landscape, in particular, as it relates to the regulation of consumer digital media platforms;

• our brands’ reputations for trust and safety, including investments in technologies that enhance user

authenticity across our apps, such as Face Check, a facial verification feature that helps confirm users

are real and match their profile photos and was launched in 2025 at Tinder in several markets;

• our ability to evolve existing services and introduce new features that respond to evolving user

preferences, social trends, and advances in technology, including the use of artificial intelligence (“AI”);

• our brands’ ability to keep up with the constantly changing regulatory landscape, in particular, as it

relates to the regulation of consumer digital media platforms;

• our ability to efficiently acquire new users for our services;

• our ability to continue to optimize our monetization strategies;

• the design and functionality of our services;

• our ability to continue to optimize our monetization strategies while maintaining positive user

• the design, functionality, and reliability of our services;

• macroeconomic and geopolitical conditions.

A large portion of customers use multiple services over a given period of time, either concurrently or sequentially, making our broad portfolio of brands a competitive advantage.

A large portion of customers use multiple services over a given period of time, either concurrently or

sequentially, reflecting the various ways in which users seek connection, making our broad portfolio of brands a

competitive advantage.

How we earn our revenue

Many of our brands enable users to establish a profile and review other users’ profiles without charge.

Each brand also offers additional features, some of which are free, and some of which require payment depending on the particular service.

In general, access to premium features requires a subscription, which is typically offered in packages (generally ranging from one week to six months), depending on the service and circumstance.

Prices can differ meaningfully within a given brand depending on the duration of a subscription, the bundle of paid features that a user chooses to access, and whether or not a user is taking advantage of any special offers.

In addition to subscriptions, many of our brands offer users certain features, such as the ability to promote themselves for a given period of time, or highlight themselves to a specific user, and these features are offered on a pay-per-use, or à la carte, basis.

The precise mix of paid and premium features is established over time on a brand-by-brand basis and is subject to constant iteration and evolution.

Our direct revenue is primarily derived from users in the form of recurring subscriptions, which typically provide unlimited access to a package of features for a specified period of time, and to a lesser extent from à la carte features, where users pay a non-recurring fee for a specific consumable benefit or feature.

Each of our brands offers a combination of free and paid features targeted to its unique user base.

In addition to direct revenue from our users, we generate indirect revenue from advertising, which comprises a much smaller percentage of our overall revenue as compared to direct revenue.

Each brand also offers additional features, some of which are free, and some of which require payment

depending on the particular service.

In general, access to premium features requires a subscription, which is

typically offered in packages (generally ranging from one week to six months), depending on the service and

circumstance.

Prices can differ meaningfully within a given brand depending on the duration of a subscription,

the bundle of paid features that a user chooses to access, and whether or not a user is taking advantage of any

special offers.

In addition to subscriptions, many of our brands offer users certain features, such as the ability to

promote themselves for a given period of time, or highlight themselves to a specific user, and these features are

offered on a pay-per-use, or à la carte, basis.

The precise mix of paid and premium features is established over

time on a brand-by-brand basis and is subject to constant iteration and evolution.

Our direct revenue is primarily derived from users in the form of recurring subscriptions, which typically

provide unlimited access to a package of features for a specified period of time, and to a lesser extent from à la

carte features, where users pay a non-recurring fee for a specific consumable benefit or feature.

brands offers a combination of free and paid features targeted to its unique user base.

In addition to direct

revenue from our users, we generate indirect revenue from advertising, which comprises a much smaller

percentage of our overall revenue as compared to direct revenue.

Dependencies on services provided by others

We rely on the Apple App Store and the Google Play Store to distribute and monetize our mobile applications.

While our mobile applications are free to download from these stores, we offer our users the opportunity to purchase subscriptions and certain à la carte features through these applications.

We determine the prices at which these subscriptions and features are sold;

however, purchases of these subscriptions and features are required in most cases to be processed through the in-app payment systems provided by Apple and Google, although some of our applications are currently able to use their own payment systems for in-app purchases made on Android devices.

We pay Apple and Google a meaningful share of the revenue we receive from in-app transactions.

For additional information, see “Item 1A Risk factors—Risks relating to our business—As the distribution of our services through app stores increases, in order to maintain our profit margins, we have taken steps, and in the future may need to take further steps, to offset increasing app store fees by decreasing traditional marketing expenditures, increasing user volume or monetization per user, consolidating back-office and technical functions, or by engaging in other efforts to increase revenue or decrease costs generally.”

Additionally, when our users and subscribers access and pay through the app stores, Apple and Google may receive personal data about our users and subscribers that we would otherwise receive if we transacted with our users and subscribers directly.

Apple and Google have restricted our access to much of that data.

Both Apple and Google believe they have broad discretion to unilaterally change the terms and conditions governing their respective app stores, including, among other things, the amount of, and requirement to pay, certain fees associated with purchases required to be made through their payment systems.

Apple or Google could also make changes to their operating systems or payment services that could negatively impact our business, including by unilaterally raising the prices for those services.

For additional information, see “Item 1A Risk factors—Risks relating to our business—Distribution and marketing of, and access to, our services rely, in significant part, on a variety of third-party platforms, in particular, mobile app stores.

If these third parties limit, prohibit, or otherwise interfere with features or services or change their policies in any material way, it could adversely affect our business, financial condition, and results of operations.”

The manner in which Apple and Google operate these services is being reviewed by legislative and regulatory bodies globally and challenged in courts in multiple jurisdictions.

Notably, the European Union (the “EU”) has, under the Digital Markets Act, designated Apple and Google as “gatekeepers.” As such, we expect Apple and Google to be restricted from, among other things, (i) imposing fees or other requirements that are not fair, reasonable and non-discriminatory to all application developers and (ii) prohibiting application developers from informing users about alternative payment options, offering their own in-app payment systems and making their applications available through alternate app stores on iOS and Android devices or through direct download.

In addition, the Republic of Korea has adopted legislation that prohibits Apple and Google from requiring that developers exclusively use Apple and Google to process payments.

Further, courts and regulators in several jurisdictions, including the U.S., France, India, and the Netherlands have found that certain app store commissions and policies, such as the requirement that application developers exclusively use their payment systems, violate laws in those jurisdictions.

Multiple other jurisdictions, including the United Kingdom, Japan, Mexico, Brazil, Indonesia, Chile, and Australia, are investigating, considering regulatory action or considering legislation to restrict or prohibit these practices.

The United States Congress, as well as a number of state legislatures, are also considering legislation that would regulate certain terms of the relationships between developers and Apple and Google and prohibit Apple and Google from requiring the use of their respective payment systems for in-app purchases.

We rely on the Apple App Store and the Google Play Store to distribute and monetize our mobile

applications.

While our mobile applications are free to download from these stores, we offer our users the

opportunity to purchase subscriptions and certain à la carte features through these applications.

the prices at which these subscriptions and features are sold, however purchases of these subscriptions and

features are generally processed through the in-app payment systems provided by Apple and Google,

notwithstanding the availability of alternative payment options in certain circumstances.

We pay Apple and

Google a meaningful share of the revenue we receive from in-app transactions as well as where payments on

Android and iOS devices are processed through alternative payment systems.

For additional information, see

“Item 7—Management’s Discussion and Analysis of Financial Condition and Results of Operations—Management

Overview—Trends affecting our business—In-App Purchase Fees” and “Item 1A–Risk Factors–Risks relating to

our business–Distribution and marketing of, and access to, our services rely, in significant part, on a variety of

third-party platforms, in particular, mobile app stores.

In the past, some of these third parties have limited,

prohibited, or otherwise interfered with features or services or changed their policies in material ways that have

adversely affected our business, financial condition, and results of operations, and these third parties could do

so again in the future.”

The manner in which Apple and Google operate these services is being reviewed by legislative and

regulatory bodies globally and challenged in courts in multiple jurisdictions.

Notably, the European Union (the

“EU”) has, under the Digital Markets Act, designated Apple and Google as “gatekeepers.” As such, we expect

Apple and Google to be restricted from, among other things, (i) imposing fees or other requirements that are not

fair, reasonable and non-discriminatory to all application developers and (ii) prohibiting application developers

from informing users about alternative payment options, offering their own in-app payment systems and making

their applications available through alternate app stores on iOS and Android devices or through direct download.

In addition, the Republic of Korea has adopted legislation that prohibits Apple and Google from requiring that

developers exclusively use Apple’s and Google’s respective payment systems to process payments.

lawmakers have also clarified that charging excess fees for using alternative payment systems constitutes unfair

payment practice.

Further, courts and regulators in several jurisdictions, including the U.S., France, India, the

Netherlands, and Australia have found that certain app store practices and policies, such as the requirement that

application developers exclusively use their payment systems, violate laws in those jurisdictions.

jurisdictions, including the United Kingdom, Japan, Mexico, Brazil, Indonesia, Chile, India, and Australia, are

investigating, considering regulatory action or considering legislation to restrict or prohibit these practices.

United States Congress, as well as a number of state legislatures, are also considering legislation that would

regulate certain terms of the relationships between developers and Apple and Google and prohibit Apple and

Google from requiring the use of their respective payment systems for in-app purchases.

Cloud and Other Services

We rely on third parties, primarily data centers and cloud-based, hosted web service providers, such as Amazon Web Services, as well as third party computer systems, service providers, software providers, and broadband and other communications systems, in connection with the provision of our applications generally, as well as to facilitate and process certain transactions with our users.

We have no control over any of these third parties or their operations and such third party systems are increasingly complex.

Problems experienced by third-party data centers and cloud-based, hosted web service providers upon which our brands including Tinder, Hinge, and Pairs rely, the telecommunications network providers with which we or they contract, or with the systems through which telecommunications providers allocate capacity among their customers could also adversely affect us.

Any changes in service levels at our data centers or hosted web service providers or any interruptions, outages or delays in our systems or those of our third-party providers, or deterioration in the performance of such systems, could impair our ability to provide our services or process transactions with our users, which would adversely impact our business, financial condition and results of operations.

For additional information, see “Item 1A Risk factors—Risks relating to our business—Our success depends, in part, on the integrity of third-party systems and infrastructure.”

We rely on third parties, primarily data centers and cloud-based, hosted web service providers, such as

Amazon Web Services, as well as third party computer systems, service providers, software providers, and

broadband and other communications systems, in connection with the provision of our applications generally, as

well as to facilitate and process certain transactions with our users.

We have no control over any of these third

parties or their operations, and such third party systems are increasingly complex.

Problems experienced by third-party data centers and cloud-based, hosted web service providers upon

which our brands, including Tinder, Hinge, and Pairs, rely, the telecommunications network providers with which

we or they contract, or the systems through which telecommunications providers allocate capacity among their

customers could also adversely affect us.

Any changes in service levels at our data centers or hosted web service

providers, or any interruptions, outages or delays in our systems or those of our third-party providers, or

deterioration in the performance of such systems, could impair our ability to provide our services or process

transactions with our users, which would adversely impact our business, financial condition and results of

For additional information, see “Item 1A Risk factors—Risks relating to our business—Our success

depends, in part, on the integrity of third-party systems and infrastructure.”

Sales and marketing

All of our brands rely on word-of-mouth, or free, user acquisition and also paid user acquisition, both to varying degrees.

Our online marketing activities generally consist of purchasing social media advertising, advertising on streaming services, banner, and other display advertising, search engine marketing, email campaigns, video advertising, business development or partnership arrangements, creating content, and partnering with influencers, among other means to promote our services.

Our offline marketing activities generally consist of television advertising, out-of-home advertising, and public relations efforts.

All of our brands rely on word-of-mouth recommendations for free user acquisition and also paid user

acquisition, both to varying degrees.

Our online marketing activities generally consist of purchasing social media

advertising, advertising on streaming services, banner, and other display advertising, search engine marketing,

email campaigns, video advertising, business development or partnership arrangements, creating content, and

partnering with influencers, among other means to promote our services.

Our offline marketing activities

generally consist of television advertising, out-of-home advertising, and public relations efforts.

Intellectual property

We regard our intellectual property rights, including trademarks, domain names, and other intellectual property, as critical to our success.

For example, we rely heavily upon the use of trademarks (primarily Tinder ® , Hinge ® , Match ® , Plenty Of Fish ® , OkCupid ® , Meetic ® , Pairs™, Swipe ® , Azar ® , and BLK®, and associated domain names, taglines and logos) to market our services and applications and build and maintain brand loyalty and recognition.

We maintain an ongoing trademark and service mark registration program, pursuant to which we register our brand names, service names, taglines and logos and renew existing trademark and service mark registrations in the United States and other jurisdictions to the extent we determine it to be necessary or otherwise appropriate and cost-effective.

In addition, we have a trademark and service mark monitoring policy pursuant to which we monitor applications filed by third parties to register trademarks and service marks that may be confusingly similar to ours, as well as potential unauthorized use of our material trademarks and service marks.

Our enforcement of this policy affords us valuable protection under current laws, rules, and regulations.

We also reserve and register (to the extent available) and renew existing registrations for domain names that we believe are material to our business.

We also rely upon a combination of in-licensed third-party and proprietary trade secrets, including proprietary algorithms, and upon patented and patent-pending technologies, processes, and features relating to our recommendation process systems or features and services with expiration dates from 2025 to 2041.

We have an ongoing invention recognition program pursuant to which we apply for patents to the extent we determine it to be core to our service or businesses or otherwise appropriate and cost-effective.

We rely on a combination of internal and external controls, including applicable laws, rules, and regulations, and contractual restrictions with employees, contractors, customers, suppliers, affiliates, and others, to establish, protect, and otherwise control access to our various intellectual property rights.

We regard our intellectual property rights, including trademarks, domain names, and other intellectual

property, as critical to our success.

For example, we rely heavily upon the use of trademarks (primarily Tinder ® , Hinge ® , Match™, Plenty Of

Fish ® , OkCupid ® , Meetic ® , Pairs™, Swipe ® , Azar ® , and BLK®, and associated domain names, taglines and logos) to

market our services and applications and build and maintain brand loyalty and recognition.

We maintain an

ongoing trademark and service mark registration program, pursuant to which we register our brand names,

service names, taglines and logos and renew existing trademark and service mark registrations in the United

States and other jurisdictions to the extent we determine it to be necessary or otherwise appropriate and cost-

In addition, we have a trademark and service mark monitoring policy pursuant to which we monitor

applications filed by third parties to register trademarks and service marks that may be confusingly similar to

ours, as well as potential unauthorized use of our material trademarks and service marks.

Our enforcement of

this policy affords us valuable protection under current laws, rules, and regulations.

We also reserve, register (to

the extent available), and renew existing registrations for domain names that we believe are material to our

We also rely upon a combination of in-licensed third-party and proprietary trade secrets, including

proprietary algorithms, and upon patented and patent-pending technologies, processes, and features relating to

our recommendation process systems or features and services with expiration dates from 2027 to 2043.

have an ongoing invention recognition program pursuant to which we apply for patents to the extent we

determine it to be core to our service or businesses or otherwise appropriate and cost-effective.

We rely on a combination of internal and external controls, including applicable laws, rules, and

regulations, and contractual restrictions with employees, contractors, customers, suppliers, affiliates, and

others, to establish, protect, and otherwise control access to our various intellectual property rights.

Government regulation

We are subject to a variety of laws and regulations in the United States and abroad that involve matters that are related to our business, many of which are still evolving and being tested in courts, and could be interpreted in ways that could harm our business.

These laws and regulations involve matters including antitrust and competition, broadband internet access, online commerce, advertising, user privacy, data protection, intermediary liability, protection of minors, biometrics, consumer protection, general safety, sex-trafficking, taxation, money laundering, accessibility, artificial intelligence, and securities law compliance.

We have and could again in the future be subject to actions based on negligence, regulatory compliance, various torts, and trademark and copyright infringement, among other actions.

See “Item 1A Risk factors—Risks relating to our business—Our business is subject to complex and evolving U.S.

and international laws and regulations, including with respect to data privacy and platform liability.

These laws and regulations are subject to change and uncertain interpretation, and could result in changes to our business practices, increased cost of operations, declines in user growth or engagement, claims, monetary penalties, or other harm to our business” and “—Risks relating to our business—We may fail to adequately protect our intellectual property rights or may be accused of infringing the intellectual property rights of third parties.”

Because we receive, store, and use a substantial amount of information received from or generated by our users, we are particularly impacted by laws and regulations governing privacy;

the storage, sharing, use, processing, disclosure, transfer, and protection of personal data;

and data breaches, in many of the countries in which we operate.

For example, in the EU we are subject to the General Data Protection Act (“GDPR”), which applies to companies established in the EU or otherwise providing services or monitoring the behavior of people located in the EU and provides for significant penalties in case of non-compliance as well as a private right of action for individual claimants.

GDPR will continue to be interpreted by EU data protection regulators, which have and may in the future require that we make changes to our business practices, and could generate additional costs, risks, and liabilities.

See “Item 3 Legal Proceedings—Irish Data Protection Commission Inquiry Regarding Tinder’s Practices.” The EU is also considering an update to its Privacy and Electronic Communications (so-called “e-Privacy”) Directive, notably to amend rules on the use of cookies, direct marketing and processing of private communications and related metadata, which may also require that we make changes to our business practices and could generate additional costs, risks and liabilities.

In 2020, the Court of Justice of the EU declared transfers of personal data on the basis of the European Commission’s Privacy Shield Decision illegal and

stipulated stricter requirements for the transfer of personal data based on standard contract clauses to non-EU countries.

In 2023, the EU-U.S.

Data Privacy Framework was adopted and extended to certain other European countries to provide U.S.

organizations with reliable mechanisms for personal data transfers to the United States from the EU as well as certain other European countries, while ensuring data protection that is consistent with applicable law.

Compliance with the various EU data transfer requirements, and the resulting interpretations, decisions, and guidelines from EU supervisory authorities, may require changes to our business practices and generate additional costs, risks, and liabilities.

At the same time, many countries in which we do business have already adopted or are also currently considering adopting privacy and data protection laws and regulations.

For instance, multiple legislative proposals concerning privacy and the protection of user information have been introduced in the U.S.

We are subject to a variety of laws and regulations in the United States and abroad that involve matters

related to our business, many of which are still evolving and being tested in courts, and could be interpreted in

ways that could harm our business.

These laws and regulations involve matters including, among others,

antitrust and competition, broadband internet access, online commerce, advertising, user privacy, data

protection, intermediary liability, protection of minors, biometrics, consumer protection, general safety, sex-

trafficking, taxation, money laundering, accessibility, intellectual property, AI, and securities law compliance.

have and could again in the future be subject to actions based on negligence, regulatory compliance, various

torts, and trademark, patent and copyright infringement, among other actions.

Because we receive, store, and use a substantial amount of information received from or generated by our

users, we are particularly impacted by laws and regulations governing privacy;

the storage, sharing, use,

processing, disclosure, transfer, and protection of personal data;

and data breaches, in many of the countries in

which we operate.

For example, in the EU we are subject to the General Data Protection Act (“GDPR”), which

applies to companies established in the EU or otherwise providing services or monitoring the behavior of people

located in the EU and provides for significant penalties in case of non-compliance as well as a private right of

action for individual claimants.

GDPR will continue to be interpreted by EU data protection regulators, which

have and may in the future require that we make changes to our business practices, and could generate

additional costs, risks, and liabilities.

See “Item 3 Legal Proceedings—Irish Data Protection Commission Inquiry

Regarding Tinder’s Practices.” The EU is also considering an update to the GDPR, the Privacy and Electronic

Communications (so-called “e-Privacy”) Directive, and its AI Act, which may also require that we make changes

to our business practices and could generate additional costs, risks and liabilities.

Compliance with the various

EU data transfer requirements, and the resulting interpretations, decisions, and guidelines from EU supervisory

authorities, may require changes to our business practices and generate additional costs, risks, and liabilities.

At the same time, many countries in which we do business have already adopted or are also currently

considering adopting privacy and data protection laws and regulations.

For instance, multiple legislative

proposals concerning privacy and the protection of user information have been introduced in the U.S.

state legislatures are also considering privacy legislation in 2026 and beyond.

state legislatures have already passed and enacted privacy legislation, most prominently the California Consumer Privacy Act of 2018, which came into effect in 2020.

Also, the California Privacy Rights Act of 2020 (the “CPRA”) was enacted, which expanded the state’s consumer privacy laws and created a new government organization, the California Privacy Protection Agency, to enforce the law.

The majority of the CPRA’s provisions entered into force on January 1, 2023, with a lookback to January 2022.

In addition to California, comprehensive privacy laws were passed in Virginia, Colorado, Connecticut, and Utah, each of which came into force in 2023, as well as Florida, Montana, Oregon, and Texas, each of which came into force in 2024.

Additionally, the Federal Trade Commission has increased its focus on privacy and data security practices at digital companies, as evidenced by its levying of several large fines against digital companies for privacy violations in recent years.

legislatures have already passed and enacted privacy legislation, most prominently the California Consumer

Privacy Act of 2018, which came into effect in 2020.

Also, the California Privacy Rights Act of 2020 (the “CPRA”)

was enacted, which expanded the state’s consumer privacy laws and created a new government organization,

the California Privacy Protection Agency, to enforce the law.

The majority of the CPRA’s provisions entered into

force on January 1, 2023, with a lookback to January 2022.

In addition to California, comprehensive privacy laws

have been passed in numerous other U.S.

states, which have come into force over the last several years.

Additionally, the Federal Trade Commission has increased its focus on privacy and data security practices at

digital companies, as evidenced by its levying of several large fines against digital companies for privacy

violations in recent years.

Finally, talks of a U.S.

federal privacy law are ongoing in Congress, with multiple proposals being considered, and may lead to the passing of a new law in the coming years.

Concerns about harms and the use of dating services and social networking platforms for illegal conduct, such as romance scams, promotion of false or inaccurate information, financial fraud, and sex-trafficking, have produced and could continue to produce future legislation or other governmental action.

For example, the EU’s Digital Services Act (the “DSA”), which went into effect in 2024, imposes additional requirements on technology companies around moderation, transparency, and the overall safety of their platforms.

In addition, the UK’s Online Safety Bill imposes similar requirements to those provided in the DSA.

Of note, this law places new requirements on social media companies, including online dating companies, to protect children from being exposed to inappropriate material.

Most of the provisions of this law are scheduled to go into effect in 2025.

In the United States, government authorities, elected officials, and political candidates have called for amendments to Section 230 of the Communications Decency Act (the “CDA”) that aim to limit or remove protections afforded to technology companies.

Additionally, there are multiple ongoing legal challenges to the CDA in U.S.

federal privacy law are ongoing in Congress, with multiple

proposals being considered, and may lead to the passing of a new law in the coming years.

In some cases,

privacy and data protection requirements may be in tension with regulatory or public expectations relating to

user safety, including efforts to prevent fraud, abuse, or other harmful activity.

As a result, our attempts to

design, implement, or expand safety-related features or controls may be subject to heightened scrutiny by

privacy and data protection regulators, could require careful balancing of competing legal obligations, and may

expose us to regulatory inquiries, enforcement actions, or limitations on how such features are deployed.

Concerns about harms, protection of minors, and the use of dating services and other platforms for illegal

conduct, such as romance scams, promotion of false or inaccurate information, financial fraud, and sex-

trafficking, have produced and could continue to produce future legislation or other governmental action.

example, the EU’s Digital Services Act (the “DSA”), which went into effect in 2024, imposes additional

requirements on technology companies around moderation, transparency, and the overall safety of their

A number of jurisdictions, including India and the U.S.

State of Colorado, have also instituted or are

considering transparency and data disclosure obligations similar to those provided in the DSA.

In addition, the

UK’s Online Safety Act imposes broad and similar requirements to those provided in the DSA.

Of note, this law

places new requirements on social media companies, including online dating companies, to protect children

from being exposed to inappropriate material.

Most of the provisions of this law went into effect in 2025.

Further, while we do not deliberately offer any of our services to minors, we are subject to an increasing number

of age assurance requirements in various jurisdictions.

For example, under the UK’s Online Safety Act, we are

required to demonstrate that our age assurance measures are “highly effective” at preventing access by

underage users, including through the use of automated facial age estimation techniques.

Similar provisions

apply to our services under the Australian Social Media Minimum Age Act.

In the United States, government authorities, elected officials, and political candidates have called for

amendments to Section 230 of the Communications Decency Act (the “CDA”) that aim to limit or remove

protections afforded to technology companies.

Additionally, there are multiple ongoing legal challenges to the

federal courts, which could further alter its scope and applicability.

If these legislative or judicial efforts succeed in weakening the protections afforded by the CDA, we may be required to make changes to our services that could restrict or impose additional costs upon the conduct of our business generally or otherwise expose us to additional liability.

Any weakening of the CDA could also result in increased litigation costs, as well as a potentially increased chance of liability.

See “Item 1A Risk factors—Risks relating to our business—Inappropriate actions by certain of our users could be attributed to us and damage our brands’ reputations, which in turn could adversely affect our business.”

Our global businesses are subject to a variety of complex and continuously evolving income and other tax frameworks.

For example, sweeping international tax reform known as Pillar Two has gone into effect in certain jurisdictions starting in 2024.

The work is being undertaken by the Organization for Economic Cooperation and Development’s (“OECD”) Inclusive Framework and organized by the OECD’s Centre for Tax Policy and Administration.

Pillar Two establishes a global minimum corporate tax rate of 15 percent for multinational enterprises with €750 million or more in annual revenue.

Multinational enterprises will need to conform to the various rules in every Pillar Two country in which they operate.

The Company analyzed the impact of enacted legislation and determined it does not have a material impact to the income tax provision.

The Company is continuing to monitor future developments.

If these legislative or judicial

efforts succeed in weakening the protections afforded by the CDA, we may be required to make changes to our

services that could restrict or impose additional costs upon the conduct of our business generally or otherwise

expose us to additional liability.

Any weakening of the CDA could also result in increased litigation costs, as well

as a potentially increased chance of liability.

See “Item 1A Risk factors—Risks relating to our business—

Inappropriate actions by certain of our users could be attributed to us or may not be adequately prevented by us

and consequently damage our brands’ reputations, which in turn could adversely affect our business.”

Our global businesses are subject to a variety of complex and continuously evolving income and other tax

For example, sweeping international tax reform known as Pillar Two has gone into effect in certain

jurisdictions starting in 2024.

The work is being undertaken by the Organization for Economic Cooperation and

Development’s (“OECD”) Inclusive Framework and organized by the OECD’s Centre for Tax Policy and

Administration.

Pillar Two establishes a global minimum corporate tax rate of 15 percent for multinational

enterprises with €750 million or more in annual revenue.

Multinational enterprises will need to conform to the

various rules in every Pillar Two country in which they operate.

The Company has analyzed the impact of

enacted legislation and determined it does not have a material impact to the income tax provision.

will continue to monitor future developments, including the recently introduced side-by-side safe harbor, which

would exclude U.S.

parented multinational enterprises from the scope of certain Pillar Two taxes.

As a provider of subscription services, we are also subject to laws and regulations in certain U.S.

states and other countries that apply to our automatically-renewing subscription payment models.

For example, the EU’s Payment Services Directive (PSD2), which became effective in 2018, has impacted our ability to process auto-renewal payments and offer promotional or differentiated pricing for users in the EU.

Also, new legislation in

Germany and France has imposed additional obligations on providers of subscription services regarding the automatic renewal and cancellation of online subscriptions.

Similar legislation or regulation, or changes to existing laws or regulations governing subscription payments, have been adopted or are being considered in many U.S.

other countries that apply to our automatically-renewing subscription payment models.

For example, the EU’s

Payment Services Directive (PSD2), which became effective in 2018, has impacted our ability to process auto-

renewal payments and offer promotional or differentiated pricing for users in the EU.

Also, Germany and France

have imposed additional obligations on providers of subscription services regarding the automatic renewal and

cancellation of online subscriptions.

Similar legislation or regulation, or changes to existing laws or regulations

governing subscription payments, have been adopted in New York and California, or are being considered in

many other U.S.

states and in the UK.

For example, New York’s law requires disclosures related to when

algorithms are used to set prices.

The EU, the U.S.

Congress, and many U.S.

states are considering, or have already enacted, legislation or regulations that would impact the use of generative artificial intelligence (“AI”) by companies.

For example, several states, including Colorado, California, and Utah, have already passed laws prescribing how AI can be used or what permissions must be granted before it can be used, and several more states are considering similar legislation.

In addition, the Federal Trade Commission has a compulsory process in nonpublic investigations involving products and services that use or claim to be produced using generative AI or claim to detect its use.

Further, the EU is enacting legislation aimed at updating liability rules, providing for specific liability related to generative AI or extending product liability to software and digital services.

As we seek to further integrate AI technologies into our services, compliance with existing, new, and changing laws, regulations, and industry standards relating to AI may limit some uses of AI and may impose significant operational costs.

Federal government, and many U.S.

states are considering, or have already enacted,

orders, legislation or regulations that would impact the use of AI by companies.

For example, several states,

including Colorado, California, and Utah, have already passed laws prescribing how AI can be used or what

permissions must be granted before it can be used, and several more states are considering similar legislation.

addition, the Federal Trade Commission has a compulsory process in nonpublic investigations involving products

and services that use or claim to be produced using generative AI or claim to detect its use.

Further, the EU is

enacting legislation aimed at updating liability rules, providing for specific liability related to AI or extending

product liability to software and digital services.

As we seek to further integrate AI technologies into our

services, compliance with existing, new, and changing laws, regulations, and industry standards relating to AI

may limit some uses of AI and may impose significant operational costs.

Finally, certain U.S.

states and certain countries in the Middle East and Asia have laws that specifically govern dating services.

states and certain countries in the Middle East and Asia have laws that specifically

govern dating services.

At the same time, a number of U.S.

states, the U.S.

Congress, and some other countries such as Brazil are considering legislation that would directly regulate online dating services.

Congress, and some other countries

such as Brazil are considering legislation that would directly regulate online dating services.

Human capital

Our people are critical to Match Group’s continued success, and we work hard to attract, retain and motivate qualified talent.

As of December 31, 2024, we had approximately 2,500 full-time and approximately 10 part-time employees, which represents a 2% year-over-year decrease in employee headcount.

We expect our overall headcount to grow modestly in 2025 as we expect to continue to focus on recruiting employees in technical functions such as software and product at growing brands and where critical needs arise, as well as to hire a number of employees and contractors to support our innovation and artificial intelligence initiatives.

As of December 31, 2024, approximately 67%, 1%, 13%, and 19% of our employees reside in the North America, Latin America, EMEA, and Asia-Pacific regions, respectively, spanning 21 countries and reflecting various cultures, backgrounds, ages, sexes, gender identities, sexual orientations, and ethnicities.

Our global workforce is highly educated, with the majority of our employees working in engineering or technical roles that are central to the technological and service innovations that drive our business.

Competition for software engineers and other technical staff has historically been intense, and we expect will remain so for the foreseeable future as we continue to recruit in the most competitive markets.

Our people are critical to Match Group’s continued success, and we work hard to attract, retain and

motivate qualified talent.

As of December 31, 2025 , we had approximately 2,200 full-time employees and 9 part-

time employees, which represents an approximate 12% year-over-year decrease in employee headcount.

decrease in headcount was largely due to the launch in 2025 of an enterprise-wide initiative to further leverage

our portfolio approach and decrease operating costs by, among other things, reducing headcount, management

layers, and duplication of certain functions across the Company.

In 2026, we plan to focus recruiting on critical

technical functions, such as software and product, while continuing to hire specialized talent to support our

innovation and AI initiatives.

As of December 31, 2025 , approximately 64%, 21%, 13%, and 2% of our employees reside in the North

America, Asia-Pacific, EMEA, and Latin America regions, respectively, spanning 17 countries and reflecting

various cultures, backgrounds, ages, sexes, sexual orientations, and ethnicities.

Our global workforce is highly

educated, with the majority of our employees working in engineering or technical roles that are central to the

technological and service innovations that drive our business.

Competition for software engineers and other

technical staff has historically been intense, and we expect will remain so for the foreseeable future as we

continue to recruit in the most competitive markets.

We have four business units supported by a central team.

These four business units consist of Tinder, Hinge, Evergreen & Emerging, and Match Group Asia.

The employee distributions in each business unit are 25%, 13%, 25%, and 17%, respectively, leaving 20% to support in a centralized capacity.

These distributions generally align with the size and complexity of each business unit.

Our compensation and benefits programs are designed to attract and reward talented individuals who possess the skills necessary to support our business objectives, assist in the achievement of our strategic goals, and create long-term value for our stockholders.

In addition to salaries, these programs (which vary by country/region) include annual bonuses, stock-based awards, an employee stock purchase plan, retirement benefits, healthcare and insurance benefits, paid time off, family leave, flexible work schedules, mental health and wellness programs, and employee assistance programs.

We are committed to providing competitive and equitable pay.

We base our compensation on market data and conduct evaluations of our compensation practices at all levels on a regular basis to determine the competitiveness and fairness of our packages.

These four business units consist of Tinder,

Hinge, Evergreen & Emerging, and Match Group Asia.

The employee distributions in each business unit are 21%,

15%, 22%, and 20%, respectively, leaving 22% to support in a centralized capacity.

These distributions generally

align with the size and complexity of each business unit.

Our compensation and benefits programs are designed to attract and reward talented individuals who

possess the skills necessary to support our business objectives, assist in the achievement of our strategic goals,

and create long-term value for our stockholders.

In addition to salaries, these programs (which vary by country/

region) include annual bonuses, stock-based awards, an employee stock purchase plan, retirement benefits,

healthcare and insurance benefits, paid time off, family leave, flexible work schedules, mental health and

wellness programs, and employee assistance programs.

We are committed to providing competitive and

equitable pay.

We base our compensation on market data and conduct evaluations of our compensation

practices at all levels on a regular basis to determine the competitiveness and fairness of our packages.

We are committed to empowering our people with career advancement and learning opportunities.

Our talent, learning and development programs provide employees with resources to help achieve their career goals, build strong foundational technical and leadership skills, and contribute to and, where applicable, lead their organizations.

We regularly conduct anonymous surveys to seek feedback from our employees on a variety of topics, including but not limited to, confidence in company leadership, competitiveness of our compensation and benefits, career growth opportunities, and ways to improve our company’s position as an employer of choice.

The results are shared with our employees and reviewed by senior leadership, who analyze areas of progress or opportunity and prioritize actions and activities in response to this feedback to drive meaningful improvements in employee engagement.

We believe that our approach to talent has been instrumental in our growth, and has made Match Group a desirable destination for current and future employees.

talent, learning and development programs provide employees with resources to help achieve their career goals,

build strong foundational technical and leadership skills, and contribute to and, where applicable, lead their

organizations.

We regularly conduct anonymous surveys to seek feedback from our employees on a variety of topics,

including but not limited to, confidence in company leadership, competitiveness of our compensation and

benefits, career growth opportunities, and ways to improve our company’s position as an employer of choice.

The results are shared with our employees and reviewed by senior leadership, who analyze areas of progress or

opportunity and prioritize actions and activities in response to this feedback to drive meaningful improvements

in employee engagement.

We believe that our approach to talent has been instrumental in our growth and has made Match Group a

desirable destination for current and future employees.

Additional information

Company website and public filings.

Investors and others should note that we announce material financial and operational information to our investors using our investor relations website at https://ir.mtch.com , our newsroom website at https://mtch.com/news , Tinder’s newsroom website at www.tinderpressroom.com , Hinge’s newsroom website at https://hinge.co/press , Securities and Exchange Commission (“SEC”) filings, press releases, and public conference calls.

We use these channels as well as social media to communicate with our users and the public about our company, our services, and other issues.

It is possible that the information we post on social media could be deemed to be material information.

Accordingly, investors, the media, and others interested in our company should monitor the websites listed above and the social media channels listed on our investor relations website in addition to following our SEC filings, press releases, and public conference calls.

Neither the information on our website, nor the information on the website of any Match Group business, is incorporated by reference into this report, or into any other filings with, or into any other information furnished or submitted to, the SEC.

The Company makes available, free of charge through its website, its Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K (including related exhibits and amendments) as soon as reasonably practicable after they have been electronically filed with (or furnished to) the SEC.

Investors and others should note that we announce material financial

and operational information to our investors using our investor relations website at https://ir.mtch.com , our

newsroom website at https://mtch.com/news , Tinder’s newsroom website at www.tinderpressroom.com ,

Hinge’s newsroom website at https://hinge.co/press , U.S.

Securities and Exchange Commission (“SEC”) filings,

press releases, and public conference calls.

We use these channels as well as social media to communicate with

our users and the public about our company, our services, and other issues.

It is possible that the information we

post on social media could be deemed to be material information.

Accordingly, investors, the media, and others

interested in our company should monitor the websites listed above and the social media channels listed on our

investor relations website in addition to following our SEC filings, press releases, and public conference calls.

Neither the information on our website, nor the information on the website of any Match Group business, is

incorporated by reference into this report, or into any other filings with, or into any other information furnished

or submitted to, the SEC.

The Company makes available, free of charge through its website, its Annual Reports on Form 10-K,

Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K (including related exhibits and amendments)

as soon as reasonably practicable after they have been electronically filed with (or furnished to) the SEC.

Code of ethics.

The Company’s code of ethics applies to all employees (including Match Group’s principal executive officer, principal financial officer, and principal accounting officer) and directors and is posted on the Company’s website at https://ir.mtch.com under the heading of “Corporate Governance.” This code of ethics complies with Item 406 of SEC Regulation S-K and the rules of The Nasdaq Stock Market LLC.

Any changes to the code of ethics that affect the provisions required by Item 406 of Regulation S-K, and any waivers of such provisions of the code of ethics for Match Group’s executive officers, senior financial officers, or directors, will also be disclosed on Match Group’s website.

The Company’s code of ethics applies to all employees (including Match Group’s principal

executive officer, principal financial officer, and principal accounting officer) and directors and is posted on the

Company’s website at https://ir.mtch.com under the heading of “Corporate Governance.” This code of ethics

complies with Item 406 of SEC Regulation S-K and the rules of The Nasdaq Stock Market LLC.

Any changes to the

code of ethics that affect the provisions required by Item 406 of Regulation S-K, and any waivers of such

provisions of the code of ethics for Match Group’s executive officers, senior financial officers, or directors, will

also be disclosed on Match Group’s website.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business