As filed with the Securities and Exchange Commission on August 1, 2024

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☑	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the Quarterly Period Ended		June 30, 2024
Or
☐	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from__________to__________

Commission File No. 001-34148

Match Group, Inc.

(Exact name of registrant as specified in its charter)

Delaware	59-2712887
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

8750 North Central Expressway, Suite 1400, Dallas, Texas 75231

(Address of registrant’s principal executive offices)

(214) 576-9352

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:
Title of each class	Trading Symbol	Name of exchange on which registered
Common Stock, par value $0.001	MTCH	The Nasdaq Stock Market LLC
		(Nasdaq Global Select Market)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☑    No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☑    No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☑ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐    No ☑

As of July 26, 2024, there were 257,895,012 shares of common stock outstanding.

TABLE OF CONTENTS

		Page Number
PART I
Item 1.	Consolidated Financial Statements	3
	Consolidated Balance Sheet	3
	Consolidated Statement of Operations	4
	Consolidated Statement of Comprehensive Operations	5
	Consolidated Statement of Shareholders’ Equity	6
	Consolidated Statement of Cash Flows	10
	Note 1—The Company and Summary of Significant Accounting Policies	11
	Note 2—Income Taxes	14
	Note 3—Financial Instruments	15
	Note 4—Long-term Debt, net	17
	Note 5—Accumulated Other Comprehensive Loss	21
	Note 6—Earnings per Share	22
	Note 7—Consolidated Financial Statement Details	24
	Note 8—Contingencies	24
Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	26
Item 3.	Quantitative and Qualitative Disclosures about Market Risk	44
Item 4.	Controls and Procedures	44
PART II
Item 1.	Legal Proceedings	45
Item 1A.	Risk Factors	47
Item 2	Unregistered Sales of Equity Securities and Use of Proceeds	47
Item 5	Other Information	48
Item 6.	Exhibits	49
	Signatures	50

2

PART I

FINANCIAL INFORMATION

Item 1.    Consolidated Financial Statements

MATCH GROUP, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEET (Unaudited)

	June 30, 2024		December 31, 2023
	(In thousands, except share data)
ASSETS
Cash and cash equivalents	$	837,792	$	862,440
Short-term investments	5,812		6,200
Accounts receivable, net of allowance of $601 and $603, respectively	324,269		298,648
Other current assets	118,049		104,023
Total current assets	1,285,922		1,271,311
Property and equipment, net of accumulated depreciation and amortization of $280,485 and $249,223, respectively	181,138		194,525
Goodwill	2,255,302		2,342,612
Intangible assets, net of accumulated amortization of $135,776 and $121,489, respectively	275,721		305,746
Deferred income taxes	235,246		259,803
Other non-current assets	135,600		133,889
TOTAL ASSETS	$	4,368,929	$	4,507,886
LIABILITIES AND SHAREHOLDERS’ EQUITY
LIABILITIES
Accounts payable	$	17,223	$	13,187
Deferred revenue	187,076		211,282
Accrued expenses and other current liabilities	308,036		307,299
Total current liabilities	512,335		531,768
Long-term debt, net	3,845,571		3,842,242
Income taxes payable	26,696		24,860
Deferred income taxes	17,477		26,302
Other long-term liabilities	96,962		101,787
Commitments and contingencies
SHAREHOLDERS’ EQUITY
Common stock; $0.001 par value; authorized 1,600,000,000 shares; 293,024,212 and 289,631,352 shares issued; and 260,249,674 and 268,890,470 outstanding at June 30, 2024 and December 31, 2023, respectively	293		290
Additional paid-in capital	8,663,157		8,529,200
Retained deficit	(6,874,517)		(7,131,029)
Accumulated other comprehensive loss	(488,993)		(385,471)
Treasury stock; 32,774,538 and 20,740,882 shares, respectively	(1,430,180)		(1,032,538)
Total Match Group, Inc. shareholders’ equity	(130,240)		(19,548)
Noncontrolling interests	128		475
Total shareholders’ equity	(130,112)		(19,073)
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	4,368,929	$	4,507,886

The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.

3

MATCH GROUP, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited)

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
	(In thousands, except per share data)
Revenue	$	864,066	$	829,552	$	1,723,713	$	1,616,676
Operating costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)	244,988		250,294		501,730		490,304
Selling and marketing expense	154,628		136,597		319,929		273,956
General and administrative expense	114,304		107,698		220,545		198,309
Product development expense	113,576		94,287		229,313		192,473
Depreciation	21,092		14,565		41,613		25,117
Amortization of intangibles	10,952		11,315		21,319		23,432
Total operating costs and expenses	659,540		614,756		1,334,449		1,203,591
Operating income	204,526		214,796		389,264		413,085
Interest expense	(40,038)		(39,742)		(80,391)		(79,093)
Other income, net	10,525		3,432		19,999		6,824
Earnings before income taxes	175,013		178,486		328,872		340,816
Income tax provision	(41,693)		(41,141)		(72,318)		(82,780)
Net earnings	133,320		137,345		256,554		258,036
Net (earnings) loss attributable to noncontrolling interests	(6)		—		(42)		118
Net earnings attributable to Match Group, Inc. shareholders	$	133,314	$	137,345	$	256,512	$	258,154
Net earnings per share attributable to Match Group, Inc. shareholders:
Basic	$	0.50	$	0.49	$	0.96	$	0.93
Diluted	$	0.48	$	0.48	$	0.93	$	0.89
Stock-based compensation expense by function:
Cost of revenue	$	1,809	$	1,673	$	3,520	$	2,990
Selling and marketing expense	3,298		2,558		6,136		4,471
General and administrative expense	25,018		28,088		49,229		41,205
Product development expense	39,742		28,318		74,802		53,534
Total stock-based compensation expense	$	69,867	$	60,637	$	133,687	$	102,200

    

The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.

4

MATCH GROUP, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENT OF COMPREHENSIVE OPERATIONS (Unaudited)

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
	(In thousands)
Net earnings	$	133,320	$	137,345	$	256,554	$	258,036
Other comprehensive loss, net of tax
Change in foreign currency translation adjustment	(34,067)		(15,170)		(103,565)		(49,614)
Total other comprehensive loss	(34,067)		(15,170)		(103,565)		(49,614)
Comprehensive income	99,253		122,175		152,989		208,422
Components of comprehensive (income) loss attributable to noncontrolling interests:
Net (earnings) loss attributable to noncontrolling interests	(6)		—		(42)		118
Change in foreign currency translation adjustment attributable to noncontrolling interests	7		—		43		3
Comprehensive loss attributable to noncontrolling interests	1		—		1		121
Comprehensive income attributable to Match Group, Inc. shareholders	$	99,254	$	122,175	$	152,990	$	208,543

The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.

5

MATCH GROUP, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENT OF SHAREHOLDERS’ EQUITY (Unaudited)

Three Months Ended June 30, 2024

	Match Group Shareholders’ Equity
	Common Stock $0.001 Par Value
	$		Shares	Additional Paid-in Capital		Retained (Deficit) Earnings		Accumulated Other Comprehensive Loss		Treasury Stock		Total Match Group Shareholders’ Equity		Noncontrolling Interests		Total Shareholders’ Equity
	(In thousands)
Balance as of March 31, 2024	$	292	291,895	$	8,585,987	$	(7,007,831)	$	(454,933)	$	(1,231,325)	$	(107,810)	$	138	$	(107,672)
Net earnings for the three months ended June 30, 2024	—		—	—		133,314		—		—		133,314		6		133,320
Other comprehensive loss, net of tax	—		—	—		—		(34,060)		—		(34,060)		(7)		(34,067)
Stock-based compensation expense	—		—	72,097		—		—		—		72,097		—		72,097
Issuance of Match Group common stock pursuant to stock-based awards, net of withholding taxes	1		1,129	5,072		—		—		—		5,073		—		5,073
Purchase of treasury stock	—		—	—		—		—		(198,855)		(198,855)		—		(198,855)
Noncontrolling interest created by the exercise of subsidiary denominated equity awards	—		—	—		—		—		—		—		18		18
Other	—		—	1		—		—		—		1		(27)		(26)
Balance as of June 30, 2024	$	293	293,024	$	8,663,157	$	(6,874,517)	$	(488,993)	$	(1,430,180)	$	(130,240)	$	128	$	(130,112)

6

MATCH GROUP, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENT OF SHAREHOLDERS’ EQUITY (Unaudited)

Three Months Ended June 30, 2023

			Match Group Shareholders’ Equity
			Common Stock $0.001 Par Value
	Redeemable Noncontrolling Interests		$		Shares	Additional Paid-in Capital		Retained (Deficit) Earnings		Accumulated Other Comprehensive Loss		Treasury Stock		Total Match Group Shareholders’ Equity		Noncontrolling Interests		Total Shareholders’ Equity
			(In thousands)
Balance as of March 31, 2023	$	—	$	288	288,211	$	8,325,631	$	(7,661,759)	$	(403,623)	$	(595,055)	$	(334,518)	$	—	$	(334,518)
Net earnings for the three months ended June 30, 2023	—		—		—	—		137,345		—		—		137,345		—		137,345
Other comprehensive loss, net of tax	—		—		—	—		—		(15,170)		—		(15,170)		—		(15,170)
Stock-based compensation expense	—		—		—	63,793		—		—		—		63,793		—		63,793
Issuance of Match Group common stock pursuant to stock-based awards, net of withholding taxes	—		1		475	4,088		—		—		—		4,089		—		4,089
Purchase of treasury stock	—		—		—	—		—		—		(32,759)		(32,759)		—		(32,759)
Purchase of redeemable noncontrolling interests	(295)		—		—	—		—		—		—		—		—		—
Adjustment of redeemable noncontrolling interests to fair value	295		—		—	(295)		—		—		—		(295)		—		(295)
Noncontrolling interest created by the exercise of subsidiary denominated equity awards	—		—		—	(411)		—		—		—		(411)		411		—
Other	—		—		—	(1)		—		—		—		(1)		—		(1)
Balance as of June 30, 2023	$	—	$	289	288,686	$	8,392,805	$	(7,524,414)	$	(418,793)	$	(627,814)	$	(177,927)	$	411	$	(177,516)

7

MATCH GROUP, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENT OF SHAREHOLDERS’ EQUITY (Unaudited)

Six Months Ended June 30, 2024

	Match Group Shareholders’ Equity
	Common Stock $0.001 Par Value
	$		Shares	Additional Paid-in Capital		Retained (Deficit) Earnings		Accumulated Other Comprehensive Loss		Treasury Stock		Total Match Group Shareholders’ Equity		Noncontrolling Interests		Total Shareholders’ Equity
	(In thousands)
Balance as of December 31, 2023	$	290	289,631	$	8,529,200	$	(7,131,029)	$	(385,471)	$	(1,032,538)	$	(19,548)	$	475	$	(19,073)
Net earnings for the six months ended June 30, 2024	—		—	—		256,512		—		—		256,512		42		256,554
Other comprehensive loss, net of tax	—		—	—		—		(103,522)		—		(103,522)		(43)		(103,565)
Stock-based compensation expense	—		—	137,823		—		—		—		137,823		—		137,823
Issuance of Match Group common stock pursuant to stock-based awards, net of withholding taxes	3		3,393	(3,266)		—		—		—		(3,263)		—		(3,263)
Purchase of noncontrolling interest	—		—	397		—		—		—		397		(1,465)		(1,068)
Purchase of treasury stock	—		—	—		—		—		(397,642)		(397,642)		—		(397,642)
Adjustment of noncontrolling interests to fair value	—		—	(996)		—		—		—		(996)		996		—
Noncontrolling interest created by the exercise of subsidiary denominated equity awards	—		—	—		—		—		—		—		150		150
Other	—		—	(1)		—		—		—		(1)		(27)		(28)
Balance as of June 30, 2024	$	293	293,024	$	8,663,157	$	(6,874,517)	$	(488,993)	$	(1,430,180)	$	(130,240)	$	128	$	(130,112)

8

MATCH GROUP, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENT OF SHAREHOLDERS’ EQUITY (Unaudited) (Continued)

Six Months Ended June 30, 2023

			Match Group Shareholders’ Equity
			Common Stock $0.001 Par Value
	Redeemable Noncontrolling Interests		$		Shares	Additional Paid-in Capital		Retained (Deficit) Earnings		Accumulated Other Comprehensive Loss		Treasury Stock		Total Match Group Shareholders’ Equity		Noncontrolling Interests		Total Shareholders’ Equity
						(In thousands)
Balance as of December 31, 2022	$	—	$	287	286,817	$	8,273,637	$	(7,782,568)	$	(369,182)	$	(482,049)	$	(359,875)	$	994	$	(358,881)
Net (loss) earnings for the six months ended June 30, 2023	(184)		—		—	—		258,154		—		—		258,154		66		258,220
Other comprehensive loss, net of tax	—		—		—	—		—		(49,611)		—		(49,611)		(3)		(49,614)
Stock-based compensation expense	—		—		—	108,193		—		—		—		108,193		—		108,193
Issuance of Match Group common stock pursuant to stock-based awards, net of withholding taxes	—		2		1,869	13,234		—		—		—		13,236		—		13,236
Purchase of redeemable noncontrolling interests	(295)		—		—	—		—		—		—		—		—		—
Adjustment of redeemable noncontrolling interests to fair value	479		—		—	(479)		—		—		—		(479)		—		(479)
Purchase of noncontrolling interest	—		—		—	734		—		—		—		734		(3,157)		(2,423)
Purchase of treasury stock	—		—		—	—		—		—		(145,765)		(145,765)		—		(145,765)
Adjustment of noncontrolling interests to fair value	—		—		—	(2,100)		—		—		—		(2,100)		2,100		—
Noncontrolling interest created by the exercise of subsidiary denominated equity awards	—		—		—	(411)		—		—		—		(411)		411		—
Other	—		—		—	(3)		—		—		—		(3)		—		(3)
Balance as of June 30, 2023	$	—	$	289	288,686	$	8,392,805	$	(7,524,414)	$	(418,793)	$	(627,814)	$	(177,927)	$	411	$	(177,516)

The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.

9

MATCH GROUP, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited)

	Six Months Ended June 30,
	2024		2023
	(In thousands)
Net earnings	$	256,554	$	258,036
Adjustments to reconcile net earnings to net cash provided by operating activities:
Stock-based compensation expense	133,687		102,200
Depreciation	41,613		25,117
Amortization of intangibles	21,319		23,432
Deferred income taxes	16,964		26,627
Other adjustments, net	(109)		6,912
Changes in assets and liabilities
Accounts receivable	(28,670)		(83,074)
Other assets	2,410		2,128
Accounts payable and other liabilities	3,118		(27,988)
Income taxes payable and receivable	(11,690)		4,001
Deferred revenue	(22,128)		(7,526)
Net cash provided by operating activities	413,068		329,865
Cash flows from investing activities:
Capital expenditures	(29,905)		(37,457)
Other, net	(8,807)		89
Net cash used in investing activities	(38,712)		(37,368)
Cash flows from financing activities:
Proceeds from issuance of common stock pursuant to stock-based awards	5,739		15,816
Withholding taxes paid on behalf of employees on net settled stock-based awards	(10,095)		(2,580)
Purchase of treasury stock	(387,366)		(145,108)
Purchase of noncontrolling interests	(737)		(1,872)
Other, net	(2,184)		—
Net cash used in financing activities	(394,643)		(133,744)
Total cash (used) provided	(20,287)		158,753
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(4,361)		1,421
Net (decrease) increase in cash, cash equivalents, and restricted cash	(24,648)		160,174
Cash, cash equivalents, and restricted cash at beginning of period	862,440		572,516
Cash, cash equivalents, and restricted cash at end of period	$	837,792	$	732,690

The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.

10

MATCH GROUP, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

NOTE 1—THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Match Group, Inc., through its portfolio companies, is a leading provider of digital technologies designed to help people make meaningful connections. Our global portfolio of brands includes Tinder®, Hinge®, Match®, Meetic®, OkCupid®, Pairs™, Plenty Of Fish®, Azar®, BLK®, and more, each built to increase our users’ likelihood of connecting with others. Through our trusted brands, we provide tailored services to meet the varying preferences of our users. Our services are available in over 40 languages to our users all over the world. Match Group has one operating segment, Connections, which is managed as a portfolio of brands.

As used herein, “Match Group,” the “Company,” “we,” “our,” “us,” and similar terms refer to Match Group, Inc. and its subsidiaries, unless the context indicates otherwise.

Basis of Presentation and Consolidation

The Company prepares its consolidated financial statements in accordance with U.S. generally accepted accounting principles (“GAAP”). The consolidated financial statements include the accounts of the Company, all entities that are wholly-owned by the Company and all entities in which the Company has a controlling financial interest. Intercompany transactions and accounts have been eliminated.

In management’s opinion, the unaudited interim consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and reflect, in management’s opinion, all adjustments, consisting of normal and recurring adjustments, necessary for the fair presentation of our consolidated financial position, consolidated results of operations and consolidated cash flows for the periods presented. Interim results are not necessarily indicative of the results that may be expected for the full year. The accompanying unaudited consolidated financial statements should be read in conjunction with the consolidated statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023.

Accounting Estimates

Management of the Company is required to make certain estimates, judgments, and assumptions during the preparation of its consolidated financial statements in accordance with GAAP. These estimates, judgments, and assumptions impact the reported amounts of assets, liabilities, revenue, and expenses and the related disclosure of contingent assets and liabilities. Actual results could differ from these estimates.

On an ongoing basis, the Company evaluates its estimates and judgments including those related to: the fair values of cash equivalents, the carrying value of accounts receivable, including the determination of the allowance for credit losses; the determination of revenue reserves; the carrying value of right-of-use assets; the useful lives and recoverability of definite-lived intangible assets and property and equipment; the recoverability of goodwill and indefinite-lived intangible assets; the fair value of equity securities without readily determinable fair values; contingencies; unrecognized tax benefits; the valuation allowance for deferred income tax assets; and the fair value of and forfeiture rates for stock-based awards, among others. The Company bases its estimates and judgments on historical experience, its forecasts and budgets, and other factors that the Company considers relevant.

Accounting for Investments and Equity Securities

Investments in equity securities, other than those of our consolidated subsidiaries, are accounted for at fair value or under the measurement alternative of the Financial Accounting Standards Board’s (“FASB”) equity securities guidance, with any changes to fair value recognized within other income (expense), net each reporting period. Under the measurement alternative, equity investments without readily determinable fair values are carried at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for identical or a similar investment of the same issuer; value is generally determined based on a market approach as of the transaction date. A security will be considered identical or similar if it has identical or similar rights to the equity securities held by the Company. The Company reviews its equity securities

11

MATCH GROUP, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) (Continued)

without readily determinable fair values for impairment each reporting period when there are qualitative factors or events that indicate possible impairment. Factors we consider in making this determination include negative changes in industry and market conditions, financial performance, business prospects, and other relevant events and factors. When indicators of impairment exist, the Company prepares quantitative assessments of the fair value of our investments in equity securities, which require judgment and the use of estimates. When our assessment indicates that the fair value of the investment is below the carrying value, the Company writes down the security to its fair value and records the corresponding charge within other income (expense), net.

Revenue Recognition

Revenue is recognized when control of the promised services are transferred to our customers, and in the amount that reflects the consideration the Company expects to be entitled to in exchange for those services.

Deferred Revenue

Deferred revenue consists of advance payments that are received or are contractually due in advance of the Company's performance. The Company’s deferred revenue is reported on a contract by contract basis at the end of each reporting period. The Company classifies deferred revenue as current when the term of the applicable subscription period or expected completion of our performance obligation is one year or less. The current deferred revenue balance as of December 31, 2023 was $211.3 million. During the six months ended June 30, 2024, the Company recognized $196.5 million of revenue that was included in the deferred revenue balance as of December 31, 2023. The current deferred revenue balance at June 30, 2024 is $187.1 million. At June 30, 2024 and December 31, 2023, there was no non-current portion of deferred revenue.

Practical Expedients and Exemptions

As permitted under the practical expedient available under ASU No. 2014-09, Revenue from Contracts with Customers, the Company does not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less, (ii) contracts with variable consideration that is allocated entirely to unsatisfied performance obligations or to a wholly unsatisfied promise accounted for under the series guidance, and (iii) contracts for which the Company recognizes revenue at the amount which we have the right to invoice for services performed.

12

MATCH GROUP, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) (Continued)

Disaggregation of Revenue

The following table presents disaggregated revenue:

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
	(In thousands)
Direct Revenue:
Americas	$	450,546	$	429,946	$	900,793	$	835,873
Europe	240,193		227,718		479,552		440,234
APAC and Other	157,394		158,472		313,087		314,467
Total Direct Revenue	848,133		816,136		1,693,432		1,590,574
Indirect Revenue (principally advertising revenue)	15,933		13,416		30,281		26,102
Total Revenue	$	864,066	$	829,552	$	1,723,713	$	1,616,676
Direct Revenue:
Tinder	$	479,945	$	474,746	$	961,432	$	915,892
Hinge	133,569		90,331		257,322		173,084
Match Group Asia(a)	73,684		76,605		145,143		152,266
Evergreen & Emerging(b)	160,935		174,454		329,535		349,332
Total Direct Revenue	$	848,133	$	816,136	$	1,693,432	$	1,590,574

______________________

(a)Consists of the brands primarily focused on Asia and the Middle East including Pairs™ and Azar®.

(b)Consists primarily of the brands Match®, Meetic®, OkCupid®, Plenty Of Fish®, and a number of demographically focused brands.

Recent Accounting Pronouncements

Accounting pronouncements not yet adopted by the Company

In November 2023, the FASB issued Accounting Standard Update (“ASU”) No. 2023-07, which requires disclosure of significant segment expenses and other segment items on an annual and interim basis and provide in interim periods all disclosures about a reportable segment’s profit or loss and assets that are currently required annually. The additional disclosures required in ASU No. 2023-07 also apply to entities with only one segment. Additionally, ASU No. 2023-07 requires the disclosure of the title and position of the Chief Operating Decision Maker. ASU No. 2023-07 does not change how a public entity identifies its operating segments, aggregates them, or applies the quantitative thresholds to determine its reportable segments. The new standard is effective on a retrospective basis for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. We expect ASU No. 2023-07 to only impact our disclosures with no impacts to our results of operations, cash flows, or financial condition.

In December 2023, the FASB issued ASU No. 2023-09, which focuses on the income tax rate reconciliation and income taxes paid. ASU No. 2023-09 requires a tabular rate reconciliation using both percentages and currency amounts, broken out into specified categories with certain reconciling items further broken out by nature and jurisdiction to the extent those items exceed a specified threshold on an annual basis. In addition, entities are required to disclose income taxes paid, net of refunds received, disaggregated by federal, state/local, and foreign, and by jurisdiction, if the amount is at least 5% of total income tax payments, net of refunds received. The new standard is effective for annual periods beginning after December 15, 2024, with early adoption permitted. An entity may apply the amendments in this ASU prospectively by providing the revised disclosures for the period ending December 31, 2025 and continuing to provide the pre-ASU No. 2023-09

13

MATCH GROUP, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) (Continued)

disclosures for the prior periods, or may apply the amendments retrospectively by providing the revised disclosures for all periods presented. We expect ASU No. 2023-09 to only impact our disclosures with no impacts to our results of operations, cash flows, or financial condition.

NOTE 2—INCOME TAXES

At the end of each interim period, the Company estimates the annual effective income tax rate and applies that rate to its ordinary year-to-date earnings or loss. The income tax provision or benefit related to significant, unusual, or extraordinary items, if applicable, that will be separately reported or reported net of their related tax effects, is individually computed and recognized in the interim period in which it occurs. In addition, the effect of changes in enacted tax laws or rates, tax status, judgment on the realizability of beginning-of-the-year deferred tax assets in future years or unrecognized tax benefits is recognized in the interim period in which the change occurs.

The computation of the estimated annual effective income tax rate at each interim period requires certain estimates and assumptions including, but not limited to, the expected pre-tax income (or loss) for the year, projections of the proportion of income (and/or loss) earned and taxed in foreign jurisdictions, permanent and temporary differences, and the likelihood of the realization of deferred tax assets generated in the current year. The accounting estimates used to compute the provision or benefit for income taxes may change as new events occur, more experience is acquired, additional information is obtained or our tax environment changes. To the extent that the estimated annual effective income tax rate changes during a quarter, the effect of the change on prior quarters is included in the income tax provision in the quarter in which the change occurs.

For the three months ended June 30, 2024 and 2023, the Company recorded an income tax provision of $41.7 million and $41.1 million, respectively. For the six months ended June 30, 2024 and 2023, the Company recorded an income tax provision of $72.3 million and $82.8 million, respectively. The effective tax rates for both the three and six-month periods in 2024 and 2023 were higher than the U.S. statutory federal rate primarily due to state income taxes, nondeductible stock-based compensation, and unfavorable tax adjustments upon the vesting of certain stock-based awards due to a lower stock price on the date the awards vested compared to the grant date fair value of such awards. These increases were partially offset by the lower tax rate on U.S. income derived from foreign sources. The six-month period ended June 30, 2024 also included a benefit realized upon the conclusion of certain state income tax audits.

Match Group is routinely under audit by federal, state, local, and foreign authorities in the area of income tax. These audits include a review of the timing and amount of income and deductions, and the allocation of such income and deductions among various tax jurisdictions. The Company is open to U.S. federal audit for tax years after December 31, 2019, and returns filed in various other jurisdictions are open to examination for tax years beginning with 2014. Although we believe that we have adequately reserved for our uncertain tax positions, the final tax outcome of these matters may vary significantly from our estimates.

At June 30, 2024 and December 31, 2023, unrecognized tax benefits, including interest and penalties, were $41.7 million and $45.8 million, respectively. If unrecognized tax benefits at June 30, 2024 are subsequently recognized, income tax expense would be reduced by $38.7 million, net of related deferred tax assets and interest. The comparable amount as of December 31, 2023 was $41.0 million. The Company believes that it is reasonably possible that its unrecognized tax benefits could decrease by $1.1 million by June 30, 2025 due to expirations of statutes of limitations, which would reduce the income tax provision.

The Company recognizes interest and, if applicable, penalties related to unrecognized tax benefits in the income tax provision. Accruals of interest and penalties for the three months ended June 30, 2024 and 2023 were not material. At both June 30, 2024 and December 31, 2023, noncurrent income taxes payable includes accrued interest and penalties of $0.9 million.

14

MATCH GROUP, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) (Continued)

NOTE 3—FINANCIAL INSTRUMENTS

Equity securities without readily determinable fair values

At June 30, 2024 and December 31, 2023, the carrying value of the Company’s investments in equity securities without readily determinable fair values totaled $19.3 million and $14.3 million, respectively, and is included in “Other non-current assets” in the accompanying consolidated balance sheet. The cumulative downward adjustments (including impairments) to the carrying value of equity securities without readily determinable fair values through June 30, 2024 were $2.1 million. For both the six months ended June 30, 2024 and 2023, there were no adjustments to the carrying value of equity securities without readily determinable fair values.

For all equity securities without readily determinable fair values as of June 30, 2024 and December 31, 2023, the Company has elected the measurement alternative. For the three and six months ended June 30, 2024 and 2023, under the measurement alternative election, the Company did not identify any fair value adjustments using observable price changes in orderly transactions for an identical or similar investment of the same issuer.

Fair Value Measurements

The Company categorizes its financial instruments measured at fair value into a fair value hierarchy that prioritizes the inputs used in pricing the asset or liability. The three levels of the fair value hierarchy are:

•Level 1: Observable inputs obtained from independent sources, such as quoted market prices for identical assets and liabilities in active markets.

•Level 2: Other inputs, which are observable directly or indirectly, such as quoted market prices for similar assets or liabilities in active markets, quoted market prices for identical or similar assets or liabilities in markets that are not active, and inputs that are derived principally from or corroborated by observable market data. The fair values of the Company’s Level 2 financial assets are primarily obtained from observable market prices for identical underlying securities that may not be actively traded. Certain of these securities may have different market prices from multiple market data sources, in which case an average market price is used.

•Level 3: Unobservable inputs for which there is little or no market data and require the Company to develop its own assumptions, based on the best information available in the circumstances, about the assumptions market participants would use in pricing the assets or liabilities.

The following tables present the Company’s financial instruments that are measured at fair value on a recurring basis:

	June 30, 2024
	Quoted Market Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Total Fair Value Measurements
	(In thousands)
Assets:
Cash equivalents:
Money market funds	$	200,064	$	—	$	200,064
Time deposits	—		131,000		131,000
Short-term investments:
Time deposits	—		5,812		5,812
Total	$	200,064	$	136,812	$	336,876

15

MATCH GROUP, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) (Continued)

	December 31, 2023
	Quoted Market Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Total Fair Value Measurements
	(In thousands)
Assets:
Cash equivalents:
Money market funds	$	125,659	$	—	$	125,659
Time deposits	—		75,000		75,000
Short-term investments:
Time deposits	—		6,200		6,200
Total	$	125,659	$	81,200	$	206,859

Assets measured at fair value on a nonrecurring basis

The Company’s non-financial assets, such as goodwill, intangible assets, property and equipment, and right-of-use assets, are adjusted to fair value only when an impairment charge is recognized. The Company’s financial assets, comprised of equity securities without readily determinable fair values, are adjusted to fair value when observable price changes are identified or an impairment charge is recognized. Such fair value measurements are based predominantly on Level 3 inputs.

Financial instruments measured at fair value only for disclosure purposes

The following table presents the carrying value and the fair value of financial instruments measured at fair value only for disclosure purposes.

	June 30, 2024				December 31, 2023
	Carrying Value		Fair Value		Carrying Value		Fair Value
	(In thousands)
Long-term debt, net (a) (b)	$	(3,845,571)	$	(3,518,607)	$	(3,842,242)	$	(3,586,177)

______________________

(a)At June 30, 2024 and December 31, 2023, the carrying value of long-term debt, net includes unamortized original issue discount and debt issuance costs of $29.4 million and $32.8 million, respectively.

(b)At June 30, 2024, the fair value of the 2026 Exchangeable Notes and 2030 Exchangeable Notes (described in “Note 4—Long-term Debt, net”) is $520.6 million and $474.5 million, respectively. At December 31, 2023, the fair value of the 2026 Exchangeable Notes and 2030 Exchangeable Notes is $517.2 million and $500.3 million, respectively.

At June 30, 2024 and December 31, 2023, the fair value of long-term debt, net, is estimated using observable market prices or indices for similar liabilities, which are Level 2 inputs.

16

MATCH GROUP, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) (Continued)

NOTE 4—LONG-TERM DEBT, NET

Long-term debt consists of:

	June 30, 2024		December 31, 2023
	(In thousands)
Credit Facility due March 20, 2029(a)	$	—	$	—
Term Loan due February 13, 2027	425,000		425,000
5.00% Senior Notes due December 15, 2027 (the “5.00% Senior Notes”); interest payable each June 15 and December 15	450,000		450,000
4.625% Senior Notes due June 1, 2028 (the “4.625% Senior Notes”); interest payable each June 1 and December 1	500,000		500,000
5.625% Senior Notes due February 15, 2029 (the “5.625% Senior Notes”); interest payable each February 15 and August 15	350,000		350,000
4.125% Senior Notes due August 1, 2030 (the “4.125% Senior Notes”); interest payable each February 1 and August 1	500,000		500,000
3.625% Senior Notes due October 1, 2031 (the “3.625% Senior Notes”); interest payable each April 1 and October 1	500,000		500,000
0.875% Exchangeable Senior Notes due June 15, 2026 (the “2026 Exchangeable Notes”); interest payable each June 15 and December 15	575,000		575,000
2.00% Exchangeable Senior Notes due January 15, 2030 (the “2030 Exchangeable Notes”); interest payable each January 15 and July 15	575,000		575,000
Total debt	3,875,000		3,875,000
Less: Unamortized original issue discount	3,023		3,479
Less: Unamortized debt issuance costs	26,406		29,279
Total long-term debt, net	$	3,845,571	$	3,842,242

______________________

(a)Subject to springing maturity, described below.

Credit Facility and Term Loan

Our wholly-owned subsidiary, Match Group Holdings II, LLC (“MG Holdings II”), is the borrower under a credit agreement (as amended, the “Credit Agreement”) that provides for the Credit Facility and the Term Loan.

On March 20, 2024, we entered into an amendment to reduce the borrowing availability under the Credit Facility from $750 million to $500 million and extend the maturity date of the Credit Facility. The maturity date of the Credit Facility is the earlier of (x) March 20, 2029 and (y) the date that is 91 days prior to the maturity date of the Term Loan or the existing senior notes due 2027, 2028, or 2029, or any new indebtedness used to refinance the Term Loan or such senior notes that matures prior to the date that is 91 days after March 20, 2029, in each case if and only if at least $250 million in aggregate principal amount of such debt is outstanding on such date.

At June 30, 2024 and December 31, 2023, the Credit Facility has a borrowing capacity of $500 million and $750 million, respectively. At both June 30, 2024 and December 31, 2023, there were no outstanding borrowings, and $0.4 million in outstanding letters of credit. At June 30, 2024 and December 31, 2023, there is $499.6 million and $749.6 million, respectively, of availability under the Credit Facility. The annual commitment fee on undrawn funds, which is based on MG Holdings II’s consolidated net leverage ratio, was 25 basis points as of June 30, 2024. Borrowings under the Credit Facility bear interest, at MG Holdings II’s option, at a base rate or a term secured overnight financing rate plus an applicable adjustment (“Adjusted Term SOFR”), plus an applicable margin based on MG Holdings II’s consolidated net leverage ratio. If MG Holdings II borrows under the Credit Facility, it will be required to maintain a consolidated net leverage ratio of not more than 5.0 to 1.0.

17

MATCH GROUP, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) (Continued)

At both June 30, 2024 and December 31, 2023, the outstanding balance on the Term Loan was $425 million. The Term Loan bears interest at Adjusted Term SOFR plus 1.75% and the applicable rate was 7.24% and 7.27% at June 30, 2024 and December 31, 2023, respectively. The Term Loan matures on February 13, 2027. Interest payments are due at least quarterly through the term of the loan. The Term Loan provides for annual principal payments as part of an excess cash flow sweep provision, the amount of which, if any, is governed by the secured net leverage ratio as set forth in the Credit Agreement.

The Credit Agreement includes covenants that would limit the ability of MG Holdings II to pay dividends, make distributions, or repurchase MG Holdings II’s stock in the event MG Holdings II’s consolidated net leverage ratio exceeds 4.25 to 1.0, or if an event of default has occurred. The Credit Agreement includes additional covenants that limit the ability of MG Holdings II and its subsidiaries to, among other things, incur indebtedness, pay dividends or make distributions. Obligations under the Credit Facility and Term Loan are unconditionally guaranteed by certain MG Holdings II wholly-owned domestic subsidiaries and are also secured by the stock of certain MG Holdings II domestic and foreign subsidiaries. The Term Loan and outstanding borrowings, if any, under the Credit Facility, rank equally with each other, and have priority over the Senior Notes to the extent of the value of the assets securing the borrowings under the Credit Agreement.

Senior Notes

The 5.00% Senior Notes were issued on December 4, 2017. These notes may be redeemed at redemption prices set forth in the indenture governing the notes, together with accrued and unpaid interest to the applicable redemption date.

The 4.625% Senior Notes were issued on May 19, 2020. These notes may be redeemed at redemption prices set forth in the indenture governing the notes, together with accrued and unpaid interest to the applicable redemption date.

The 5.625% Senior Notes were issued on February 15, 2019. These notes may be redeemed at redemption prices set forth in the indenture governing the notes, together with accrued and unpaid interest to the applicable redemption date.

The 4.125% Senior Notes were issued on February 11, 2020. At any time prior to May 1, 2025, these notes may be redeemed at a redemption price equal to the sum of the principal amount, plus accrued and unpaid interest and a make-whole premium set forth in the indenture governing the notes. Thereafter, these notes may be redeemed at redemption prices set forth in the indenture governing the notes, together with accrued and unpaid interest to the applicable redemption date.

The 3.625% Senior Notes were issued on October 4, 2021. At any time prior to October 1, 2026, these notes may be redeemed at a redemption price equal to the sum of the principal amount, plus accrued and unpaid interest and a make-whole premium set forth in the indenture governing the notes. Thereafter, these notes may be redeemed at redemption prices set forth in the indenture governing the notes, together with accrued and unpaid interest to the applicable redemption date.

The indenture governing the 5.00% Senior Notes contains covenants that would limit MG Holdings II’s ability to pay dividends or to make distributions and repurchase or redeem MG Holdings II’s stock in the event a default has occurred or MG Holdings II’s consolidated leverage ratio (as defined in the indenture) exceeds 5.0 to 1.0. No such limitations were in effect at June 30, 2024. There are additional covenants in the 5.00% Senior Notes indenture that limit the ability of MG Holdings II and its subsidiaries to, among other things, (i) incur indebtedness, make investments, or sell assets in the event MG Holdings II is not in compliance with specified financial ratios, and (ii) incur liens, enter into agreements restricting their ability to pay dividends, enter into transactions with affiliates, or consolidate, merge or sell substantially all of their assets. The indentures governing the 3.625%, 4.125%, 4.625%, and 5.625% Senior Notes are less restrictive than the indenture governing the 5.00% Senior Notes and generally only limit MG Holdings II’s and its subsidiaries’ ability to, among other things, create liens on assets, or consolidate, merge, sell or otherwise dispose of all or substantially all of their assets.

The Senior Notes all rank equally in right of payment.

18

MATCH GROUP, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) (Continued)

Exchangeable Notes

During 2019, Match Group FinanceCo 2, Inc. and Match Group FinanceCo 3, Inc., direct, wholly-owned subsidiaries of the Company, issued $575.0 million aggregate principal amount of its 2026 Exchangeable Notes and $575.0 million aggregate principal amount of its 2030 Exchangeable Notes, respectively.

The 2026 and 2030 Exchangeable Notes (collectively the “Exchangeable Notes”) are guaranteed by the Company but are not guaranteed by MG Holdings II or any of its subsidiaries.

The following table presents details of the exchangeable features:

	Number of shares of the Company’s Common Stock into which each $1,000 of Principal of the Exchangeable Notes is Exchangeable(a)	Approximate Equivalent Exchange Price per Share(a)		Exchangeable Date
2026 Exchangeable Notes	11.4259	$	87.52	March 15, 2026
2030 Exchangeable Notes	11.8739	$	84.22	October 15, 2029

______________________

(a)Subject to adjustment upon the occurrence of specified events.

As more specifically set forth in the applicable indentures, the Exchangeable Notes are exchangeable under the following circumstances:

(1) during any calendar quarter (and only during such calendar quarter), if the last reported sale price of the Company's common stock for at least 20 trading days (whether or not consecutive) during the period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the exchange price on each applicable trading day;

(2) during the five-business day period after any five-consecutive trading day period (the “measurement period”) in which the trading price per $1,000 principal amount of notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of the Company's common stock and the exchange rate on each such trading day;

(3) if the issuer calls the notes for redemption, at any time prior to the close of business on the scheduled trading day immediately preceding the redemption date; or

(4) upon the occurrence of specified corporate events as further described in the indentures governing the respective Exchangeable Notes.

On or after the respective exchangeable dates noted in the table above, until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may exchange all or any portion of their Exchangeable Notes regardless of the foregoing conditions. Upon exchange, the issuer, in its sole discretion, has the option to settle the Exchangeable Notes with cash, shares of the Company’s common stock, or a combination of cash and shares of the Company's common stock. Any shares issued in further settlement of the notes would be offset by shares received upon exercise of the Exchangeable Note Hedges (described below).

No 2026 or 2030 Exchangeable Notes were presented for exchange during the six months ended June 30, 2024. Neither of the 2026 and 2030 Exchangeable Notes were exchangeable as of June 30, 2024.

At both June 30, 2024 and December 31, 2023, there was no value in excess of the principal of each of the 2026 and 2030 Exchangeable Notes outstanding on an if-converted basis using the Company’s stock price on June 30, 2024 and December 31, 2023, respectively.

Additionally, all or any portion of the 2026 Exchangeable Notes may be redeemed for cash, at the issuer’s option, at any time, and for the 2030 Exchangeable Notes on or after July 20, 2026, if the last reported sale price of the Company’s common stock has been at least 130% of the exchange price then in effect for at least 20 trading days (whether or not consecutive), including at least one of the five trading days immediately preceding

19

MATCH GROUP, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) (Continued)

the date on which the notice of redemption is provided, during any 30 consecutive trading day period ending on, and including, the trading day immediately preceding the date on which the applicable issuer provides notice of redemption, at a redemption price equal to 100% of the principal amount to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date.

The following table sets forth the components of the outstanding Exchangeable Notes as of June 30, 2024 and December 31, 2023:

	June 30, 2024				December 31, 2023
	2026 Exchangeable Notes		2030 Exchangeable Notes		2026 Exchangeable Notes		2030 Exchangeable Notes
	(In thousands)
Principal	$	575,000	$	575,000	$	575,000	$	575,000
Less: Unamortized debt issuance costs	3,180		6,114		3,976		6,630
Net carrying value included in long-term debt, net	$	571,820	$	568,886	$	571,024	$	568,370

The following table sets forth interest expense recognized related to the Exchangeable Notes:

	Three Months Ended June 30, 2024				Three Months Ended June 30, 2023
	2026 Exchangeable Notes		2030 Exchangeable Notes		2026 Exchangeable Notes		2030 Exchangeable Notes
	(In thousands)
Contractual interest expense	$	1,258	$	2,875	$	1,258	$	2,875
Amortization of debt issuance costs	398		258		395		254
Total interest expense recognized	$	1,656	$	3,133	$	1,653	$	3,129

	Six Months Ended June 30, 2024				Six Months Ended June 30, 2023
	2026 Exchangeable Notes		2030 Exchangeable Notes		2026 Exchangeable Notes		2030 Exchangeable Notes
	(In thousands)
Contractual interest expense	$	2,516	$	5,750	$	2,516	$	5,750
Amortization of debt issuance costs	796		516		786		504
Total interest expense recognized	$	3,312	$	6,266	$	3,302	$	6,254

The effective interest rates for the 2026 and 2030 Exchangeable Notes are 1.2% and 2.2%, respectively.

Exchangeable Notes Hedges and Warrants

In connection with the Exchangeable Notes offerings, the Company purchased call options allowing the Company to purchase initially (subject to adjustment upon the occurrence of specified events) the same number of shares that would be issuable upon the exchange of the applicable Exchangeable Notes at the prices per share set forth below (the “Exchangeable Notes Hedge”), and sold warrants allowing the counterparty to purchase (subject to adjustment upon the occurrence of specified events) shares at the per share prices set forth below (the “Exchangeable Notes Warrants”).

The Exchangeable Notes Hedges are expected to reduce the potential dilutive effect on the Company’s common stock upon any exchange of Exchangeable Notes and/or offset any cash payment Match Group FinanceCo 2, Inc. or Match Group FinanceCo 3, Inc. is required to make in excess of the principal amount of the

20

MATCH GROUP, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) (Continued)

exchanged notes. The Exchangeable Notes Warrants have a dilutive effect on the Company’s common stock to the extent that the market price per share of the Company common stock exceeds their respective strike prices.

The following tables present details of the Exchangeable Notes Hedges and Warrants outstanding at June 30, 2024:

	Number of Shares(a)	Approximate Equivalent Exchange Price per Share(a)
	(Shares in millions)
2026 Exchangeable Notes Hedge	6.6	$	87.52
2030 Exchangeable Notes Hedge	6.8	$	84.22

	Number of Shares(a)	Weighted Average Strike Price per Share(a)
	(Shares in millions)
2026 Exchangeable Notes Warrants	6.6	$	134.76
2030 Exchangeable Notes Warrants	6.8	$	134.82

______________________

(a)Subject to adjustment upon the occurrence of specified events.

NOTE 5—ACCUMULATED OTHER COMPREHENSIVE LOSS

The following table presents the components of accumulated other comprehensive loss. For the three and six months ended June 30, 2024 and 2023, the Company’s accumulated other comprehensive loss relates to foreign currency translation adjustments.

	Three Months Ended June 30,
	2024		2023
	(In thousands)
Balance at April 1	$	(454,933)	$	(403,623)
Other comprehensive loss before reclassifications	(34,064)		(15,170)
Amounts reclassified into earnings	4		—
Net period other comprehensive loss	(34,060)		(15,170)
Balance at June 30	$	(488,993)	$	(418,793)

	Six Months Ended June 30,
	2024		2023
	(In thousands)
Balance at January 1	$	(385,471)	$	(369,182)
Other comprehensive loss	(103,526)		(49,611)
Amounts reclassified into earnings	4		—
Net period other comprehensive loss	(103,522)		(49,611)
Balance at June 30	$	(488,993)	$	(418,793)

At both June 30, 2024 and 2023, there was no tax benefit or provision on the accumulated other comprehensive loss.

21

MATCH GROUP, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) (Continued)

NOTE 6—EARNINGS PER SHARE

The following table sets forth the computation of the basic and diluted earnings per share attributable to Match Group shareholders:

	Three Months Ended June 30,
	2024				2023
	Basic		Diluted		Basic		Diluted
	(In thousands, except per share data)
Numerator
Net earnings	$	133,320	$	133,320	$	137,345	$	137,345
Net earnings attributable to noncontrolling interests	(6)		(6)		—		—
Impact from subsidiaries’ dilutive securities	—		(5)		—		(34)
Interest on dilutive Exchangeable Notes, net of income tax(a)	—		3,171		—		3,179
Net earnings attributable to Match Group, Inc. shareholders	$	133,314	$	136,480	$	137,345	$	140,490
Denominator
Weighted average basic shares outstanding	264,397		264,397		278,133		278,133
Dilutive securities(b)(c)	—		4,088		—		3,472
Dilutive shares from Exchangeable Notes, if-converted(a)	—