Match Group (MTCH) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue reached $864 million, up 4% year-over-year, with Adjusted EBITDA up 25% to $343 million and net income up 42% to $167 million, driven by Tinder and Hinge growth and supported by product improvements and organizational streamlining.

• Payers declined 5% to 13.5 million, but revenue per payer (RPP) increased 10% to $20.90.

• Net income margin improved to 19%, and diluted shares outstanding decreased by 5% year-over-year to 242 million.

• Organizational changes included consolidating MG Asia into E&E and a $100 million minority investment in Sniffies, with Archer app wind-down expected to save $10 million annually.

• Q1 results benefited from the reversal of Canada’s digital services tax and were impacted by a $25 million impairment at Azar.

Financial highlights

• Total revenue was $864 million, up 4% year-over-year; Adjusted EBITDA margin increased to 40% from 33% a year ago.

• Net income margin improved to 19% from 14% in Q1 2025.

• Free cash flow for Q1 2026 was $174 million, with a trailing twelve-month FCF conversion rate of 78%.

• Cost of revenue decreased 11% to $210.7 million, mainly from lower in-app purchase fees.

• Cash and cash equivalents stood at $1 billion at quarter-end.

Outlook and guidance

• Q2 2026 revenue guidance is $850–$860 million, down 2% to flat year-over-year, with a $20 million headwind from Azar and $10 million from Tinder user experience tests.

• Q2 Adjusted EBITDA expected at $325–$330 million, up 13% year-over-year, with a margin of 38%.

• Full-year guidance unchanged; expect Azar revenue pressure to persist, with Tinder strength offsetting some headwinds.

• Dividend of $0.20 per share declared, payable July 21, 2026.

• 2026 capital expenditures expected between $65 million and $75 million, up from 2025.