MOMONasdaqServices-Prepackaged SoftwareUS GAAP · USD

Hello Group Inc.

Hello Group Inc. is a U.S.-listed social networking company focused on online relationship discovery and social interaction products in Asia. Its portfolio centers on Momo and Tantan, along with a set of acquired and incubated apps that serve different social, dating, and community use cases.

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Revenue10.4bn USD
−1.9 %y/y
Operating profit (EBIT)1,355m USD
−11.6 %y/y
EBIT margin13.1%
−1.4 ppy/y
Net income804m USD
−22.7 %y/y
Free cash flow691m USD
−49.0 %y/y

Fiscal year 2025 · change from previous year

Development 2020–2025

-505101520bn USD2020: 15.0 bn USD2020: EBIT 2.5 bn USD20202021: 14.6 bn USD2021: EBIT -2.4 bn USD20212022: 12.7 bn USD2022: EBIT 1.6 bn USD20222023: 12.0 bn USD2023: EBIT 2.3 bn USD20232024: 10.6 bn USD2024: EBIT 1.5 bn USD20242025: 10.4 bn USD2025: EBIT 1.4 bn USD202510.41.4
RevenueOperating profit (EBIT)
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Business

Share of revenue
Social networking apps45 %

Mobile apps that connect users through location, interests, and community features.

Dating apps35 %

Matchmaking and romantic-connection services focused on user discovery and interaction.

Live social and entertainment15 %

Interactive social features that support engagement and monetization within the app ecosystem.

Niche and international apps5 %

Smaller applications serving selective user groups and overseas markets.

Customers

Hello Group serves consumers who use mobile apps to meet new people, expand social circles, and pursue dating or community-based interaction. Its user base spans broad social-networking audiences on Momo and more targeted dating or niche-interest users on Tantan, Soulchill, Happn, and similar products.

General social networking users

Users of Momo who want to discover new people and interact through location, interests, and social activities.

Dating and matchmaking users

Users of Tantan who are looking for romantic connections and higher-intent matching features.

Niche social app users

Users of apps such as Soulchill, Hertz, Happn, and Duidui that target narrower social demographics.

International users

Users outside the core domestic market who are reached through select portfolio apps with broader geographic appeal.

Strategy

Hello Group’s strategy is to broaden engagement across multiple social and dating applications rather than rely on a single product. It combines internal incubation, acquisitions, and niche product expansion to deepen user reach, diversify demographics, and extend into overseas markets.

Portfolio expansionMedium term

Multiple apps reduce dependence on one flagship product and broaden user coverage.

Niche market penetrationShort term

Selective demographics can improve engagement and monetization efficiency.

International growthMedium term

Overseas users provide geographic diversification and new monetization pools.

Geography

The company’s core business is centered in Asia, with China as the main operating base and user market. It also generates overseas revenue and has expanded through apps aimed at more selective demographics in domestic and international markets, making geography important to growth and user acquisition.

Risks

Hello Group depends on continued user engagement in social and dating apps, where demand can shift quickly and competition is intense. Its business is also exposed to platform, content, and regulatory risks across China and overseas markets, while acquisitions and intangible assets create accounting and integration complexity.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Competition in social and dating apps1User attrition and engagement decay2Regulatory and content moderation risk3Integration risk from acquisitions4
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Competition in social and dating appsImpact: HighLikelihood: High

    Users can switch easily among apps with similar discovery and matchmaking features.

    Exposure: Consumer internet and mobile app market

  2. User attrition and engagement decayImpact: HighLikelihood: Medium

    The business depends on active users spending time in social and dating apps.

    ExposureMomoTantanNewer apps
  3. Regulatory and content moderation riskImpact: HighLikelihood: Medium

    Social platforms are exposed to oversight on user content, safety, and data practices.

    Exposure: China and international markets

  4. Integration risk from acquisitionsImpact: MediumLikelihood: Medium

    The portfolio has been expanded through acquisitions and incubation, which can complicate execution.

    Exposure: Tantan and other acquired apps

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Accounting

Judgemental items
Share-based compensation

Excluded from non-GAAP results but remains a recurring cost under GAAP.

Impact: Affects operating expense and earnings comparability

Amortization of acquired intangibles

Acquisitions add intangible assets that are amortized over time.

Impact: Reduces reported earnings and can distort trend analysis

Withholding tax on intra-group dividends

Dividend-related tax charges can create large period-specific swings.

Impact: Can materially affect net income in a given quarter

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Last updated: 28/09/2026