Match Group (MTCH) Q3 2026 earnings summary

Executive summary

• Q3 revenue was $891.2M, down 3% YoY; net income attributable to shareholders rose 8% to $174.4M and Adjusted EBITDA rose 14% to $344.5M.

• Tinder DAU returned to YoY growth in September for the first time in 3.5 years; Hinge sustained double-digit growth across users, revenue and payers.

• Tinder user trends improved, but management emphasized further work to convert engagement gains into durable business results.

Financial highlights

• Direct revenue was $876.6M, down 2% YoY; indirect revenue was $14.6M, while total revenue declined 2% excluding FX.

• Adjusted EBITDA margin was 39%; excluding the $61M prior-year legal settlement charge, Adjusted EBITDA declined 5%, mainly on higher Tinder and Hinge marketing spend.

• Diluted EPS was $0.73 versus $0.62; GAAP operating income was $268.6M, up 21% YoY.

• YTD operating cash flow was $886M and free cash flow was $832M; LTM free cash flow was $1.140B with 82% conversion.

• Q3 cost of revenue fell 16% to $206.5M, mainly due to $43.0M lower in-app purchase fees as payers shifted to alternate payment methods.

Outlook and guidance

• Q4 revenue guidance is $865M–$875M, down 1% to flat YoY reported and flat to up 1% FX-neutral; Adjusted EBITDA guidance is $327.5M–$332.5M, with a 38% margin at midpoint.

• FY26 revenue is expected to be flat YoY; Adjusted EBITDA margin is projected at 38.8%, and free cash flow slightly above the prior high end, assuming a 13th Apple payment by year-end.

• 2026 Tinder direct revenue is expected to decline at a low-single-digit YoY rate; Q4 MAU, payer and direct revenue trends are expected to improve.

• 2027 Tinder targets include full-year direct revenue growth, payer growth by Q4 and flat YoY MAU by Q4; Hinge’s $1B full-year revenue expectation remains unchanged.

• E&E revenue declines are expected to improve only modestly in 2027; 2027 Adjusted EBITDA and margin guidance will be provided in February, with IAP fees a projected 1-point margin headwind.