Hello Group Inc. Announces Unaudited Financial Results for the First Quarter of 2026

BEIJING, CHINA, June 2, 2026 – Hello Group Inc. (NASDAQ: MOMO) (“Hello Group” or the “Company”), a leading player in Asia’s online social networking space, today announced its unaudited financial results for the first quarter of 2026.

First Quarter of 2026 Highlights

 

•

Net revenues decreased by 5.3% year over year to RMB2,386.0 million (US$345.9 million*) in the first quarter of 2026.

 

•

Net revenues from overseas increased by 44.1% year over year to RMB597.4 million (US$86.6 million) in the first quarter of 2026.

 

•

Net income attributable to the shareholders of Hello Group Inc. was RMB291.0 million (US$42.2 million) in the first quarter of 2026, compared to RMB358.0 million in the same period of 2025.

 

•

Non-GAAP net income attributable to the shareholders of Hello Group Inc. (note 1) was RMB328.8 million (US$47.7 million) in the first quarter of 2026, compared to RMB403.8 million in the same period of 2025.

 

•

Diluted net income per American Depositary Share (“ADS”) was RMB1.81 (US$0.26) in the first quarter of 2026, compared to RMB2.07 in the same period of 2025.

 

•

Non-GAAP diluted net income per ADS (note 1) was RMB2.05 (US$0.30) in the first quarter of 2026, compared to RMB2.34 in the same period of 2025.

 

•

For Momo app, total paying users were 3.7 million for the first quarter of 2026, compared to 4.2 million for the same period last year, and 3.9 million from last quarter. Tantan had 0.6 million paying users for the first quarter of 2026 compared to 0.8 million from the year ago period and 0.6 million from last quarter.

“In the first quarter of 2026, the Group maintained steady business momentum.” commented Yan Tang, Chairman and CEO of Hello Group. “Guided by our strategic focus, our domestic business continued to sustain the healthy operation of the cash cow business through a focus on product innovation and refined operations. Leveraging the synergy of a diversified product portfolio, our overseas business has maintained a positive development trend. Looking ahead, we are confident in our ability to execute on the strategic roadmap for each business line in 2026.”

First Quarter of 2026 Financial Results

Net revenues

Total net revenues were RMB2,386.0 million (US$345.9 million) in the first quarter of 2026, a decrease of 5.3% from RMB2,520.8 million in the first quarter of 2025.

Value-added service revenues mainly include virtual gift revenues from various audio, video and text-based scenarios, and membership subscription revenues. Total value-added service revenues were RMB2,353.6 million (US$341.2 million) in the first quarter of 2026, a decrease of 5.5% from RMB2,489.9 million during the same period of 2025. The decrease was primarily due to external factors that influenced the operational focus of certain broadcasters and agencies on Momo app, which are still in recovery, and to a lesser extent, the decline in Tantan resulting from a decline in user base. The decrease was largely offset by the revenue growth from our overseas apps, driven by the rapid expansion from multiple social entertainment and dating brands across our rich portfolio.

*

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 RMB6.8980 to US$1.00, the effective noon buying rate for March 31, 2026 as set forth in the H.10 statistical release of the Federal Reserve Board.

 

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Other services revenues were RMB32.3 million (US$4.7 million) in the first quarter of 2026, compared to RMB30.9 million during the same period of 2025.

Net revenues from Chinese mainland decreased from RMB2,106.2 million in the first quarter of 2025 to RMB1,788.6 million (US$259.3 million) in the first quarter of 2026, primarily due to the decrease in net revenues from Momo app and Tantan app. Net revenues from overseas increased from RMB414.6 million in the first quarter of 2025 to RMB597.4 million (US$86.6 million) in the first quarter of 2026, driven by the growth of audio- and video-based products in the Middle East and North Africa (“MENA”) region, primarily by the new apps, along with incremental revenue from dating brands outside of MENA.

Cost and expenses

Cost and expenses were RMB2,088.7 million (US$302.8 million) in the first quarter of 2026, a decrease of 6.5% from RMB2,234.5 million in the first quarter of 2025. The decrease was primarily attributable to: (a) a decrease in revenue sharing with broadcasters on Momo app, partially offset by an increased revenue sharing with virtual gift recipients on overseas apps; (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; and (c) partially offset by increased investment in marketing for our new overseas apps while we continued to reduce marketing expenses for China apps.

Non-GAAP cost and expenses (note 1) were RMB2,049.3 million (US$297.1 million) in the first quarter of 2026, compared to RMB2,188.8 million during the same period of 2025.

Income from operations

Income from operations was RMB309.7 million (US$44.9 million) in the first quarter of 2026, compared to RMB299.5 million during the same period of 2025.

Non-GAAP income from operations (note 1) was RMB349.2 million (US$50.6 million) in the first quarter of 2026, compared to RMB345.3 million during the same period of 2025.

Interest income

Interest income was RMB54.0 million (US$7.8 million) in the first quarter of 2026, compared to RMB120.3 million during the same period of 2025. The decrease was primarily attributable to: (a) a reduction in the total volume of interest-bearing funds, as a result of bank loan repayments, the distribution of a special cash dividend, settlement of withholding tax accrued for prior periods, certain acquisitions and investments, and payment under the Company’s Share Repurchase Program; (b) a lower proportion of high-yield US dollar funds in the total funds; and (c) a drop in the yield of both US dollar and RMB funds due to falling market interest rates.

 

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Income tax expenses

Income tax expenses were RMB79.9 million (US$11.6 million) in the first quarter of 2026, compared to RMB70.4 million in the first quarter of 2025.

Share of income on equity method investments

Share of income on equity method investments was RMB8.5 million (US$1.2 million) in the first quarter of 2026, compared to RMB39.7 million during the same period of 2025. The decrease was primarily attributable to lower fair value gains recognized from an investment in an open mutual fund.

Net income

Net income was RMB291.5 million (US$42.3 million) in the first quarter of 2026, compared to RMB358.5 million during the same period of 2025.

Non-GAAP net income (note 1) was RMB329.3 million (US$47.7 million) in the first quarter of 2026, compared to RMB404.3 million during the same period of 2025.

Net income attributable to the shareholders of Hello Group Inc.

Net income attributable to the shareholders of Hello Group Inc. was RMB291.0 million (US$42.2 million) in the first quarter of 2026, compared to RMB358.0 million during the same period of 2025.

Non-GAAP net income (note 1) attributable to the shareholders of Hello Group Inc. was RMB328.8 million (US$47.7 million) in the first quarter of 2026, compared to RMB403.8 million during the same period of 2025.

Net income per ADS

Diluted net income per ADS was RMB1.81 (US$0.26) in the first quarter of 2026, compared to RMB2.07 in the first quarter of 2025.

Non-GAAP diluted net income per ADS (note 1) was RMB2.05 (US$0.30) in the first quarter of 2026, compared to RMB2.34 in the first quarter of 2025.

Cash and cash flow

As of March 31, 2026, the Company’s cash, cash equivalents, short-term deposits, short-term investments, short-term restricted cash and long-term deposits totaled RMB8,561.0 million (US$1,241.1 million), compared to RMB8,677.6 million as of December 31, 2025.

Net cash provided by operating activities in the first quarter of 2026 was RMB158.9 million (US$23.0 million), compared to RMB239.7 million in the first quarter of 2025.

Recent Development

Payment of a special cash dividend

In March 2026, Hello Group’s board of directors declared a special cash dividend in the amount of US$0.28 per ADS, or US$0.14 per ordinary share. The cash dividend was paid in April 2026 to shareholders of record at the close of business on April 10, 2026. The aggregate amount of cash dividends paid was US$41.2 million.

 

3

Share repurchase program

As of June 2, 2026, the Company has repurchased 63.7 million ADSs for US$399.5 million on the open market under the Share Repurchase Program announced on June 7, 2022 and amended on March 14, 2024 and March 12, 2025, at an average purchase price of US$6.25 per ADS. The remaining size of the program is US$86.6 million.

Business Outlook

For the second quarter of 2026, the Company expects total net revenues to be between RMB2.45 billion and RMB2.55 billion, representing a decrease of 6.5% to 2.7% 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, amortization of intangible assets from business acquisitions and tax impacts related to the amortization of intangible assets from business acquisitions.

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 from operations, net income, net income attributable to the shareholders of Hello Group Inc., and diluted net income per ADS) is adjusted from the most comparable GAAP results to exclude share-based compensation, amortization of intangible assets from business acquisitions, and tax impacts related to the amortization of intangible assets from business acquisitions. A limitation of using these non-GAAP financial measures is that share-based compensation, amortization of intangible assets from business acquisitions and tax impacts related to the amortization of intangible assets from business acquisitions have 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 Tuesday, June 2, 2026, at 7:00 a.m. U.S. Eastern Time (7:00 p.m. Beijing / Hong Kong Time on June 2, 2026).

 

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Participants can register for the conference call by navigating to:

https://s1.c-conf.com/diamondpass/10054808-suvwn2.html.

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 June 10, 2026. The dial-in details for the replay are as follows:

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

Hong Kong: 800-930-639

Passcode: 10054808

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 Asia’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. Since 2019, we have continuously expanded our portfolio through internal incubation and strategic acquisitions, adding apps such as Hertz, Soulchill, and Happn. These products target more niche markets and selective user demographics both domestically and internationally, further strengthening our global presence.

For investor and media inquiries, please contact:

Hello Group Inc.

Investor Relations

Phone: +852-3157-1669

Email: ir@hellogroup.com

Christensen

In China

Ms. Xiaoyan Su

Phone: +86-10-5900-1548

E-mail: Xiaoyan.Su@christensencomms.com

 

5

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 second quarter of 2026, 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 first quarter of 2026 are preliminary, unaudited and subject to audit adjustment. In addition, we may not meet our financial outlook for the second quarter of 2026 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.    

 

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Hello Group Inc.

Unaudited Condensed Consolidated Statement of Operations

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

 

		Three months Ended March 31
		2025 RMB				2026 RMB				2026 US$
Net revenues(i):
Value-added service			2,489,902				2,353,649				341,207
Other services			30,933				32,327				4,687
Total net revenues			2,520,835				2,385,976				345,894
Cost and expenses:
Cost of revenues			(1,569,074	)			(1,463,328	)			(212,138	)
Research and development			(195,769	)			(177,106	)			(25,675	)
Sales and marketing			(329,178	)			(343,241	)			(49,759	)
General and administrative			(140,511	)			(105,048	)			(15,229	)
Total cost and expenses			(2,234,532	)			(2,088,723	)			(302,801	)
Other operating income, net			13,182				12,490				1,811
Income from operations			299,485				309,743				44,904
Interest income			120,338				54,017				7,831
Interest expense			(30,659	)			(52	)			(8	)
Other gain or loss, net			—				(895	)			(130	)
Income before income tax and share of income on equity method investments			389,164				362,813				52,597
Income tax expenses			(70,406	)			(79,850	)			(11,576	)
Income before share of income on equity method investments			318,758				282,963				41,021
Share of income on equity method investments			39,731				8,538				1,238
Net income			358,489				291,501				42,259
Less: net income attributable to non-controlling interest			495				453				66
Net income attributable to the shareholders of Hello Group Inc.			357,994				291,048				42,193
Net income per share attributable to ordinary shareholders
Basic			1.05				0.92				0.13
Diluted			1.04				0.91				0.13
Weighted average shares used in calculating net income per ordinary share
Basic			339,405,347				315,359,212				315,359,212
Diluted			345,905,274				321,322,687				321,322,687

 

(i)	The following table presents revenues by geographic area based on the addresses of our customers of our users:

 

		Three months Ended March 31
		2025 RMB				2026 RMB				2026 US$
Chinese mainland			2,106,233				1,788,568				259,288
Overseas			414,602				597,408				86,606
Total			2,520,835				2,385,976				345,894

 

7

Hello Group Inc.

Unaudited Condensed Consolidated Statement of Comprehensive Income

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

 

		Three months Ended March 31
		2025				2026				2026
		RMB				RMB				US$
Net income			358,489				291,501				42,259
Other comprehensive loss, net of tax:
Foreign currency translation adjustment			(43,338	)			(74,295	)			(10,771	)
Comprehensive income			315,151				217,206				31,488
Less: comprehensive loss attributed to the non-controlling interest			(599	)			(2,700	)			(391	)
Comprehensive income attributable to the shareholders of Hello Group Inc.			315,750				219,906				31,879

 

8

Hello Group Inc.

Unaudited Condensed Consolidated Balance Sheets

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

 

		December 31 2025 RMB				March 31 2026 RMB				March 31 2026 US$
Assets
Current assets
Cash and cash equivalents			5,320,022				5,408,023				783,999
Short-term deposits			3,112,207				2,856,680				414,132
Restricted cash			120,612				103,470				15,000
Short-term investment			124,713				162,778				23,598
Accounts receivable, net of allowance for credit losses of RMB18,623 and RMB18,958 as of December 31, 2025 and March 31, 2026, respectively			246,208				416,065				60,317
Amounts due from related parties			21,751				18,433				2,672
Prepaid expenses and other current assets			791,317				754,846				109,430
Total current assets			9,736,830				9,720,295				1,409,148
Long-term deposits			—				30,000				4,349
Right-of-use assets, net			118,799				78,356				11,359
Property and equipment, net			1,420,030				1,408,232				204,151
Intangible assets, net			240,716				225,481				32,688
Rental deposits			3,585				4,891				709
Long-term investments			1,514,042				1,526,586				221,308
Other non-current assets			114,384				115,408				16,731
Deferred tax assets			34,614				36,024				5,222
Goodwill			596,299				579,765				84,048
Total assets			13,779,299				13,725,038				1,989,713
Liabilities and equity
Current liabilities
Accounts payable			584,557				569,131				82,506
Deferred revenue			468,221				468,313				67,891
Accrued expenses and other current liabilities			848,679				769,462				111,549
Lease liabilities due within one year			83,590				58,752				8,517
Income tax payable			44,787				35,198				5,103
Deferred consideration in connection with business acquisitions-current			47,839				47,180				6,840
Long-term borrowings, current portion			2,118				1,957				284
Dividends payable			—				284,426				41,233
Total current liabilities			2,079,791				2,234,419				323,923
Lease liabilities			39,986				27,708				4,017
Deferred tax liabilities			531,996				550,249				79,769
Long-term borrowings			3,133				2,324				337
Other non-current liabilities			39,605				49,661				7,199
Total liabilities			2,694,511				2,864,361				415,245
Shareholder’s equity (ii)			11,084,788				10,860,677				1,574,468
Total liabilities and shareholder’s equity			13,779,299				13,725,038				1,989,713

 

(ii):

As of March 31, 2026, the number of ordinary shares outstanding was 295,494,802.

 

9

Hello Group Inc.

Unaudited Condensed Consolidated Statement of Cash Flows

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

 

		Three months Ended March 31
		2025 RMB				2026 RMB				2026 US$
Cash flows from operating activities:
Net income			358,489				291,501				42,259
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of property and equipment			12,391				15,828				2,295
Amortization of intangible assets			6,191				9,410				1,364
Share-based compensation			40,860				31,305				4,539
Share of income on equity method investments			(39,731	)			(8,538	)			(1,238	)
Gain or loss on fair value changes of short-term investments			—				895				130
Returns on investments			508				—				—
Gain or loss on disposal of property and equipment			(102	)			—				—
Provision of loss on receivable and other assets			5,405				435				63
Changes in operating assets and liabilities:
Accounts receivable			(19,144	)			(171,970	)			(24,930	)
Prepaid expenses and other current assets			11,375				53,628				7,774
Amounts due from related parties			—				(142	)			(21	)
Rental deposits			(110	)			(17	)			(2	)
Deferred tax assets			340				(1,451	)			(210	)
Other non-current assets			35,046				38,767				5,620
Accounts payable			(13,543	)			(14,677	)			(2,128	)
Income tax payable			(100,979	)			(9,516	)			(1,380	)
Deferred revenue			9,035				1,083				157
Accrued expenses and other current liabilities			(70,983	)			(95,293	)			(13,815	)
Deferred tax liabilities			12,713				18,922				2,743
Other non-current liabilities			(8,040	)			(1,266	)			(184	)
Net cash provided by operating activities			239,721				158,904				23,036
Cash flows from investing activities:
Purchase of property and equipment			(27,814	)			(15,161	)			(2,198	)
Payment for long-term investments			—				(18,000	)			(2,609	)
Payment for business acquisition			(194,390	)			—				—
Purchase of term deposits			—				(110,000	)			(15,947	)
Cash received on maturity of term deposits			1,257,245				326,904				47,391
Payment for short-term investments			—				(40,798	)			(5,914	)
Returns of investments			—				1,303				189
Loan to a third-party company			(27,478	)			—				—
Loan to a related party			—				(3,930	)			(570	)
Cash received from repayment of loans to a related party			—				7,390				1,071
Other investing activities			192				97				14
Net cash provided by investing activities			1,007,755				147,805				21,427
Cash flows from financing activities:
Proceeds from exercise of share options			2				3				—
Repurchase of ordinary shares			(201,529	)			(187,184	)			(27,136	)
Advance payment for acquisition of non-controlling interest			—				(20,918	)			(3,032	)
Repayment of short-term borrowings			(1,690,535	)			—				—
Repayment of long-term borrowings			(395	)			(732	)			(106	)
Net cash used in financing activities			(1,892,457	)			(208,831	)			(30,274	)
Effect of exchange rate changes			(25,685	)			(27,019	)			(3,916	)
Net (decrease) increase in cash and cash equivalents			(670,666	)			70,859				10,273
Cash, cash equivalents and restricted cash at the beginning of period			9,642,421				5,440,634				788,726
Cash, cash equivalents and restricted cash at the end of period			8,971,755				5,511,493				798,999

 

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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 Ended March 31, 2025																Three months Ended March 31, 2026																				Three months Ended March 31, 2026
		GAAP RMB				Amortization of intangible assets from business acquisitions RMB				Share-based compensation RMB				Non-GAAP RMB				GAAP RMB				Amortization of intangible assets from business acquisitions RMB				Share-based compensation RMB				Tax impacts(iii) RMB				Non-GAAP RMB				GAAP US$				Amortization of intangible assets from business acquisitions US$				Share-based compensation US$				Tax impacts(iii) US$				Non-GAAP US$
Cost of revenues			(1,569,074	)			1,263				1,774				(1,566,037	)			(1,463,328	)			1,583				2,526				—				(1,459,219	)			(212,138	)			229				366				—				(211,543	)
Research and development			(195,769	)			859				9,060				(185,850	)			(177,106	)			1,678				10,194				—				(165,234	)			(25,675	)			243				1,478				—				(23,954	)
Sales and marketing			(329,178	)			2,790				4,311				(322,077	)			(343,241	)			4,869				2,923				—				(335,449	)			(49,759	)			706				424				—				(48,629	)
General and administrative			(140,511	)			—				25,715				(114,796	)			(105,048	)			—				15,662				—				(89,386	)			(15,229	)			—				2,271				—				(12,958	)
Cost and operating expenses			(2,234,532	)			4,912				40,860				(2,188,760	)			(2,088,723	)			8,130				31,305				—				(2,049,288	)			(302,801	)			1,178				4,539				—				(297,084	)
Income from operations			299,485				4,912				40,860				345,257				309,743				8,130				31,305				—				349,178				44,904				1,178				4,539				—				50,621
Net income attributable to the shareholders of Hello Group Inc.			357,994				4,912				40,860				403,766				291,048				8,130				31,305				(1,653	)			328,830				42,193				1,178				4,539				(240	)			47,670

 

(iii)

Includes tax impacts related to the amortization of intangible assets from business acquisition. There is no tax impact related to share-based compensation.

 

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