Match Group has announced their Q1 2022 financial results.
Highlights of the results include:
- Total Revenue grew 20% over the prior year quarter to $799 million.
- Operating income was $208 million, an increase of 10% over the prior year quarter, representing an operating margin of 26%.
- Adjusted Operating Income was $273 million, an increase of 19% over the prior year quarter, representing an Adjusted Operating Income Margin of 34%.
- Payers increased 13% to 16.3 million, up from 14.4 million in the prior year quarter.
- RPP increased 6% over the prior year quarter to $16.00.
- Tinder Direct Revenue grew 18% over the prior year quarter driven by 17% Payers growth to 10.7 million and RPP growth of 1%.
- All Other Brands collectively grew Direct Revenue 22% year-over-year, driven by 14% RPP growth and 7% Payers growth to 5.6 million.
- Year-to-date 2022 operating cash flow and free cash flow were $233 million and $215 million, respectively.
Responding to the results, Match Group said in their shareholders letter: “The first quarter of 2022 was a fantastic start to the year, with strong performance across the portfolio. Our results continue to demonstrate the value of our products and the strong resonance of our brands.
“We will continue to grow our business responsibly with all users and stakeholders in mind. Just yesterday, we published our second annual Impact Report to share our progress on social, environmental, and governance initiatives. The report outlines key milestones and achievements. In Q1 we also introduced background-check service Garbo on Tinder to an overwhelmingly positive response, and we plan to make the service accessible to more of our users on our other brands as well. We want to thank all of our employees for their commitment, thoughtfulness, and contributions in these critical areas.
“We also just announced that after 16 years in various key roles with this incredible business, Shar has decided that it is the right time for her to step down as Chief Executive Officer. She’ll remain as a Director and advisor to the company.
“After a thorough search, the Board has named Bernard Kim as Chief Executive Officer, effective May 31. As President of gaming company Zynga, Bernard has operated a very similar business to ours: a portfolio of brands, in global markets, at various stages of growth. He has successfully driven terrific results while focusing on their mission of connecting people through fun games. At Match Group, he will build on our mission of connecting people through technology to find dates, love, and relationships.
“Given our confidence in our team and the prospects for our business, our Board has also authorised a buyback of up to 12.5 million of our outstanding shares.
We are delighted to welcome Bernard and are looking forward to much continued success at Match Group.”