Momo.com (8454) Q1 2025 earnings summary

Executive summary

• Q1 2025 consolidated revenue was NT$26.41 billion, down 1.8% year-over-year, with net income to parent at NT$859.5 million, a 5.4% decrease.

• E-commerce contributed over 96% of total revenue, with NT$25.54 billion, while the media segment added NT$850 million.

• User engagement improved, with MAU up 11% and quarterly active users up 7.5% year-over-year.

• 3P and Retail Media Network businesses showed solid progress, but higher marketing and tech investments pressured margins.

• Retail sector growth slowed to 0.9% YoY, the weakest since Q3 2021, amid macroeconomic headwinds.

Financial highlights

• Operating profit reached NT$786 million; EBITDA was NT$1,456 million, up from NT$1,137 million in 1Q24.

• Average ticket size declined 6.4% YoY, offset by a 7.5% increase in active users, resulting in stable GMV growth.

• Cash and cash equivalents stood at NT$4,488.1 million as of March 31, 2025.

• Net cash from operating activities was NT$138.1 million, a sharp decline from NT$1.29 billion in Q1 2023, mainly due to changes in working capital.

• Gross margin from operations declined to 8.9% in 1Q25 from 9.4% in 1Q24.

Outlook and guidance

• Management remains focused on long-term growth, continuing strategic investments despite short-term margin pressures.

• Near-term e-commerce growth is expected to remain slow due to macro uncertainties, but long-term penetration outlook remains positive.

• Closely monitoring market conditions and prepared to adjust actions in response to rising macroeconomic uncertainties.

• The company expects to maintain stable operations, with continued investment in logistics and technology infrastructure.

• Dividend policy remains focused on balancing growth and shareholder returns, with a proposed cash dividend of NT$12.3 per share for 2023.