Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of March 2025

Commission File Number: 001-36765

Hello Group Inc.

20^th Floor, Block B

Tower 2, Wangjing SOHO

No.1 Futongdong Street

Chaoyang District, Beijing 100102

People’s Republic of China

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

Exhibit Index

Exhibit 99.1—Press Release

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


Hello Group Inc.

By:		/s/ Cathy Hui Peng
Name:		Cathy Hui Peng
Title:		Chief Financial Officer

Date: March 12, 2025

Exhibit 99.1

Hello Group Inc. Announces Unaudited Financial Results for the Fourth Quarter and Fiscal Year 2024

BEIJING, CHINA, March 12, 2025 – Hello Group Inc. (NASDAQ: MOMO) (“Hello Group” or the “Company”), a leading player in mainland China’s online social networking space, today announced its unaudited financial results for the fourth quarter and the full year ended December 31, 2024.

Fourth Quarter of 2024 Highlights

•

Net revenues decreased by 12.2% year over year to RMB2,636.5 million (US$361.2 million^*) in the fourth quarter of 2024.

•

Net income attributable to Hello Group Inc. decreased to RMB187.2 million (US$25.6 million) in the fourth quarter of 2024, from RMB452.5 million in the same period of 2023.

•

Non-GAAP net income attributable to Hello Group Inc. (note 1) decreased to RMB230.5 million (US$31.6 million) in the fourth quarter of 2024, from RMB514.7 million in the same period of 2023.

•

Diluted net income per American Depositary Share (“ADS”) was RMB1.05 (US$0.14) in the fourth quarter of 2024, compared to RMB2.32 in the same period of 2023.

•

Non-GAAP diluted net income per ADS (note 1) was RMB1.30 (US$0.18) in the fourth quarter of 2024, compared to RMB2.63 in the same period of 2023.

•

Monthly Active Users (“MAU”) on Tantan app were 10.8 million in December 2024, compared to 13.7 million in December 2023.

•

For the Momo app total paying users was 5.7 million for the fourth quarter of 2024, compared to 7.4 million for the same period last year. Tantan had 0.9 million paying users for the fourth quarter of 2024 compared to 1.2 million from the year ago period.

Full Year 2024 Highlights

•

Net revenues decreased by 12.0% year over year to RMB10,563.0 million (US$1,447.1 million) for the full year of 2024.

•

Net income attributable to Hello Group Inc. was RMB1,039.6 million (US$142.4 million) for the full year of 2024, compared to RMB1,957.6 million during the same period of 2023.

•

Non-GAAP net income attributable to Hello Group Inc. (note 1) was RMB1,232.9 million (US$168.9 million) for the full year of 2024, compared to RMB2,224.7 million during the same period of 2023.

•

Diluted net income per ADS was RMB5.57(US$0.76) for the full year of 2024, compared to RMB9.84 during the same period of 2023.

•

Non-GAAP diluted net income per ADS (note 1) was RMB6.60(US$0.90) for the full year of 2024, compared to RMB11.17 during the same period of 2023.

“2024 was a year fraught with challenges and opportunities. Our team maneuvered through external uncertainties well and delivered satisfactory financial and operational results.” commented Yan Tang, Chairman and CEO of Hello Group. “Momo cash cow business continues to be productive, with an ecosystem that is healthier in comparison to the previous year. Our overseas business maintained its robust growth momentum and made more meaningful contributions to the group’s financial standing. This impels us to take bolder measures to propel growth and innovation in international markets in the future.”

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 RMB7.2993 to US$1.00, the effective noon buying rate for December 31, 2024 as set forth in the H.10 statistical release of the Federal Reserve Board.

Fourth Quarter of 2024 Financial Results

Net revenues

Total net revenues were RMB2,636.5 million (US$361.2 million) in the fourth quarter of 2024, a decrease of 12.2% from RMB3,002.9 million in the fourth quarter of 2023.

Live video service revenues were RMB1,264.9 million (US$173.3 million) in the fourth quarter of 2024, a decrease of 17.0% from RMB1,523.9 million during the same period of 2023. The decrease was primarily attributable to our proactive operational adjustments to de-emphasize large scale competition events in the Momo app and a soft consumer sentiment in the current macro environment, and to a lesser degree, Tantan pivoting away from the less dating-centric live video service.

Value-added service revenues mainly include virtual gift revenues and membership subscription revenues. Total value-added service revenues were RMB1,326.8 million (US$181.8 million) in the fourth quarter of 2024, a decrease of 6.9% from RMB1,424.9 million during the same period of 2023. The decrease was primarily due to our product adjustments to improve Momo app’s ecosystem as well as the impact of the macro economy on consumer sentiment, and to a lesser extent, the decline in Tantan’s paying users which was in turn due to the decline in user base. The decrease was partially offset by the revenue growth from the new standalone apps.

Mobile marketing revenues were RMB43.6 million (US$6.0 million) in the fourth quarter of 2024, compared to RMB44.9 million during the same period of 2023.

Net revenues from the Momo segment decreased from RMB2,728.7 million in the fourth quarter of 2023 to RMB2,423.1 million (US$332.0 million) in the fourth quarter of 2024, primarily due to the decrease in net revenues from live video service and value-added service on Momo app. The decrease was partially offset by the revenue growth of the new standalone apps. Net revenues from the Tantan segment decreased from RMB272.2 million in the fourth quarter of 2023 to RMB213.4 million (US$29.2 million) in the fourth quarter of 2024, mainly due to the decrease in net revenues from live video service and value-added service.

Cost and expenses

Cost and expenses were RMB2,407.8 million (US$329.9 million) in the fourth quarter of 2024, a decrease of 1.0% from RMB2,431.8 million in the fourth quarter of 2023. The decrease was primarily attributable to: (a) a decrease in revenue sharing with broadcasters related to live video service on Momo app and Tantan app, and a decrease in revenue sharing with virtual gift recipients of virtual gift service on Momo app. The decrease was partially offset by an increase in revenue sharing with virtual gift recipients for new standalone apps; and (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. The decrease was partially offset by an increase of RMB 94.1 million (US$12.9 million) in production costs in connection with films.

Non-GAAP cost and expenses (note 1) were RMB2,364.6 million (US$323.9 million) in the fourth quarter of 2024, compared to RMB2,369.5 million during the same period of 2023.

Other operating income, net

Other operating income was RMB8.0 million (US$1.1 million) in the fourth quarter of 2024, compared to RMB30.8 million during the fourth quarter of 2023. The decrease was primarily due to reduced government incentives and input VAT super deduction in the fourth quarter of 2024.

Income from operations

Income from operations was RMB236.7 million (US$32.4 million) in the fourth quarter of 2024, compared to RMB602.0 million during the same period of 2023. Income from operations of the Momo segment was RMB226.4 million (US$31.0 million) in the fourth quarter of 2024, which decreased from RMB576.9 million in the fourth quarter of 2023. Income from operations of the Tantan segment was RMB11.1 million (US$1.5 million) in the fourth quarter of 2024, which decreased from RMB26.8 million in the fourth quarter of 2023.

Non-GAAP income from operations (note 1) was RMB279.9 million (US$38.4 million) in the fourth quarter of 2024, compared to RMB664.2 million during the same period of 2023. Non-GAAP income from operations of the Momo segment was RMB269.4 million (US$36.9 million) in the fourth quarter of 2024, which decreased from RMB638.9 million in the fourth quarter of 2023. Non-GAAP income from operations of the Tantan segment was RMB11.4 million (US$1.6 million) in the fourth quarter of 2024, compared to RMB27.0 million in the fourth quarter of 2023.

Income tax expenses

Income tax expenses were RMB89.5 million (US$12.3 million) in the fourth quarter of 2024, compared to RMB183.4 million in the fourth quarter of 2023. The decrease in income tax expenses was primarily due to the lower profit in the third quarter of 2024, and to a lesser extent, lower withholding tax rate due to our eligibility for a preferential tax rate since the beginning of the year.

Net income

Net income was RMB187.2 million (US$25.6 million) in the fourth quarter of 2024, compared to RMB452.5 million during the same period of 2023. Net income from the Momo segment was RMB176.3 million (US$24.2 million) in the fourth quarter of 2024, compared to RMB430.0 million in the same period of 2023. Net income from the Tantan segment was RMB11.8 million (US$1.6 million) in the fourth quarter of 2024, compared to RMB24.2 million in the fourth quarter of 2023.

Non-GAAP net income (note 1) was RMB230.5 million (US$31.6 million) in the fourth quarter of 2024, compared to RMB514.7 million during the same period of 2023. Non-GAAP net income from the Momo segment was RMB219.3 million (US$30.1 million) in the fourth quarter of 2024, which decreased from RMB492.1 million in the fourth quarter of 2023. Non-GAAP net income of the Tantan segment was RMB12.0 million (US$1.7 million) in the fourth quarter of 2024, compared to RMB24.4 million in the fourth quarter of 2023.

Net income attributable to Hello Group Inc.

Net income attributable to Hello Group Inc. was RMB187.2 million (US$25.6 million) in the fourth quarter of 2024, compared to RMB452.5 million during the same period of 2023.

Non-GAAP net income (note 1) attributable to Hello Group Inc. was RMB230.5 million (US$31.6 million) in the fourth quarter of 2024, compared to RMB514.7 million during the same period of 2023.

Net income per ADS

Diluted net income per ADS was RMB1.05 (US$0.14) in the fourth quarter of 2024, compared to RMB2.32 in the fourth quarter of 2023.

Non-GAAP diluted net income per ADS (note 1) was RMB1.30 (US$0.18) in the fourth quarter of 2024, compared to RMB2.63 in the fourth quarter of 2023.

Cash and cash flow

As of December 31, 2024, the Company’s cash, cash equivalents, short-term deposits, long-term deposits, short-term restricted cash and long-term restricted cash totaled RMB14,728.5 million (US$2,017.8 million), compared to RMB13,478.5 million as of December 31, 2023.

Net cash provided by operating activities in the fourth quarter of 2024 was RMB423.6 million (US$58.0 million), compared to RMB415.9 million in the fourth quarter of 2023.

Full Year 2024 Financial Results

Net revenues for the full year of 2024 were RMB10,563.0 million (US$1,447.1 million), a decrease of 12.0% from RMB12,002.3 million in the same period of 2023.

Net income attributable to Hello Group Inc. was RMB1,039.6 million (US$142.4 million) for the full year of 2024, compared to RMB1,957.6 million during the same period of 2023.

Non-GAAP net income attributable to Hello Group Inc. (note 1) was RMB1,232.9 million (US$168.9 million) for the full year of 2024, compared to RMB2,224.7 million during the same period of 2023.

Diluted net income per ADS was RMB5.57 (US$0.76) during the full year of 2024, compared to RMB9.84 in the same period of 2023.

Non-GAAP diluted net income per ADS (note 1) was RMB6.60 (US$0.90) during the full year of 2024, compared to RMB11.17 in the same period of 2023.

Net cash provided by operating activities was RMB1,640.0 million (US$224.7 million) during the full year of 2024, compared to RMB2,277.2 million in the same period of 2023.

Recent Development

Declaration of a special cash dividend

Hello Group’s board of directors has declared a special cash dividend in the amount of US$0.30 per ADS, or US$0.15 per ordinary share. The cash dividend will be paid on April 30, 2025 to shareholders of record at the close of business on April 11, 2025. The ex-dividend date will be April 11, 2025. The aggregate amount of cash dividends to be paid is approximately US$50 million, which will be funded by available cash on the Company’s balance sheet.

Share repurchase program

On June 7, 2022, Hello Group’s board of directors authorized a share repurchase program under which the Company may repurchase up to US$200 million of its shares up to June 6, 2024 (the “Share Repurchase Program”). On March 14, 2024, Hello Group’s board of directors approved to amend the Share Repurchase Program to (i) extend the term of the Share Repurchase Program up to June 30, 2026, and (ii) upsize the Share Repurchase Program to US$286.1 million. On March 12, 2025, Hello Group’s board of directors approved an additional amendment to the Share Repurchase Program, to (i) extend the term of the Share Repurchase Program up to March 31, 2027, and (ii) upsize the Share Repurchase Program by another $200 million, so that the Company is authorized to, from time to time, acquire up to an aggregate of US$486.1 million worth of its shares in the form of ADSs and/or the ordinary shares of the Company in the open market and through privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations. As of March 12, 2025, after the upsizing of the Share Repurchase Program, the remaining size of the program is US$222 million.

As of March 12, 2025, the Company has repurchased 43.5 million ADSs for US$264.0 million on the open market under Share Repurchase Program announced on June 7, 2022 and amended on March 14, 2024, at an average purchase price of US$6.05 per ADS.

Business Outlook

For the first quarter of 2025, the Company expects total net revenues to be between RMB2.4 billion to RMB2.5 billion, representing a decrease of 6.3% to 2.4% 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 and amortization of intangible assets from business acquisitions, and such adjustments has no impact on income tax.

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 Hello Group Inc., and diluted net income per ADS) is adjusted from the most comparable GAAP results to exclude share-based compensation and amortization of intangible assets from business acquisitions, and such adjustments has no impact on income tax. A limitation of using these non-GAAP financial measures is that share-based compensation and 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 Wednesday, March 12, 2025, at 8:00 a.m. U.S. Eastern Time (8:00 p.m. Beijing / Hong Kong Time on March 12, 2025).

Participants can register for the conference call by navigating to:

https://s1.c-conf.com/diamondpass/10045617-nl4uc8.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 March 19, 2025. The dial-in details for the replay are as follows:

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

Hong Kong: 800-930-639

Passcode: 10045617

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 mainland China’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. Starting from 2019, we have incubated a number of other new apps, such as Hertz, Soulchill, and Duidui, which target more niche markets and more selective demographics.

For investor and media inquiries, please contact:

Hello Group Inc.

Investor Relations

Phone: +86-10-5731-0538

Email: ir@hellogroup.com

Christensen

In China

Ms. Xiaoyan Su

Phone: +86-10-5900-1548

E-mail: Xiaoyan.Su@christensencomms.com

In U.S.

Ms. Linda Bergkamp

Phone: +1-480-614-3004

Email: linda.bergkamp@christensencomms.com

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 first quarter of 2025, 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 fourth quarter of 2024 are preliminary, unaudited and subject to audit adjustment. In addition, we may not meet our financial outlook for the first quarter of 2025 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.

Hello Group Inc.

Unaudited Condensed Consolidated Statement of Operations

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


	Three months Ended December 31									Year Ended December 31
	2023			2024			2024			2023			2024			2024
	RMB			RMB			US$			RMB			RMB			US$
Net revenues:
Live video service		1,523,885			1,264,851			173,284			6,072,871			5,092,854			697,718
Value-added service		1,424,893			1,326,764			181,766			5,752,571			5,322,726			729,210
Mobile marketing		44,915			43,630			5,977			133,677			142,950			19,584
Mobile games		5,441			—			—			19,610			432			59
Other services		3,798			1,251			171			23,594			4,009			550

Total net revenues		3,002,932			2,636,496			361,198			12,002,323			10,562,971			1,447,121
Cost and expenses:
Cost of revenues		(1,770,117	)		(1,724,821	)		(236,300	)		(7,025,394	)		(6,447,341	)		(883,282	)
Research and development		(231,445	)		(222,684	)		(30,508	)		(884,590	)		(804,425	)		(110,206	)
Sales and marketing		(304,696	)		(316,699	)		(43,388	)		(1,414,949	)		(1,329,780	)		(182,179	)
General and administrative		(125,498	)		(143,621	)		(19,676	)		(502,479	)		(507,658	)		(69,549	)

Total cost and expenses		(2,431,756	)		(2,407,825	)		(329,872	)		(9,827,412	)		(9,089,204	)		(1,245,216	)
Other operating income, net		30,821			8,015			1,098			130,105			59,003			8,083

Income from operations		601,997			236,686			32,424			2,305,016			1,532,770			209,988
Interest income		124,354			124,045			16,994			436,253			510,964			70,002
Interest expense		(20,552	)		(36,846	)		(5,048	)		(62,223	)		(127,846	)		(17,515	)
Other gain or loss, net		(31,250	)		(46,639	)		(6,390	)		(26,685	)		(90,509	)		(12,400	)

Income before income tax and share of (loss) income on equity method investments		674,549			277,246			37,980			2,652,361			1,825,379			250,075
Income tax expenses		(183,377	)		(89,497	)		(12,261	)		(630,023	)		(845,022	)		(115,768	)

Income before share of (loss) income on equity method investments		491,172			187,749			25,719			2,022,338			980,357			134,307
Share of (loss) income on equity method investments		(38,703	)		(514	)		(70	)		(70,643	)		59,216			8,113

Net income		452,469			187,235			25,649			1,951,695			1,039,573			142,420

Less: net loss attributable to non-controlling interest		—			—			—			(5,886	)		—			—

Net income attributable to the shareholders of Hello Group Inc.		452,469			187,235			25,649			1,957,581			1,039,573			142,420

Net income per share attributable to ordinary shareholders
Basic		1.20			0.54			0.07			5.18			2.81			0.39
Diluted		1.16			0.53			0.07			4.92			2.78			0.38
Weighted average shares used in calculating net income per ordinary share
Basic		376,317,036			349,401,183			349,401,183			377,639,399			369,312,997			369,312,997
Diluted		390,956,175			355,325,921			355,325,921			401,833,328			373,591,974			373,591,974

Hello Group Inc.

Unaudited Condensed Consolidated Statement of Comprehensive Income

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

Three months

Year

Ended December 31

2023

2024

2023

2024

RMB

US$

RMB

US$

Net income

452,469

187,235

25,649

1,951,695

1,039,573

142,420

Other comprehensive (loss) income, net of tax:

Foreign currency translation adjustment

(95,774

)

322,935

44,242

20,414

132,248

18,118

Comprehensive income

356,695

510,170

69,891

1,972,109

1,171,821

160,538

Less: comprehensive (loss) income attributed to the non-controlling interest

(5,020

)

7,225

990

357

5,111

700

Comprehensive income attributable to Hello Group Inc.

361,715

502,945

68,901

1,971,752

1,166,710

159,838

Hello Group Inc.

Unaudited Condensed Consolidated Balance Sheets

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


	December 31 2023		December 31 2024		December 31 2024
	RMB		RMB		US$
Assets
Current assets
Cash and cash equivalents		5,620,466		4,122,659		564,802
Short-term deposits		1,270,626		2,026,245		277,594
Restricted cash		10,147		4,566,477		625,605
Accounts receivable, net of allowance for doubtful accounts of RMB12,780 and RMB12,433 as of December 31, 2023 and 2024, respectively		201,517		192,317		26,347
Amounts due from related parties		7,258		—		—
Prepaid expenses and other current assets		723,364		1,104,172		151,271

Total current assets		7,833,378		12,011,870		1,645,619
Long-term deposits		3,924,975		3,059,860		419,199
Long-term restricted cash		2,652,299		953,285		130,600
Right-of-use assets, net		109,572		252,169		34,547
Property and equipment, net		659,033		897,036		122,893
Intangible assets, net		17,086		86,661		11,873
Rental deposits		12,962		13,280		1,819
Long-term investments		786,911		825,533		113,098
Amounts due from RPT-non current		20,000		—		—
Other non-current assets		180,052		110,960		15,201
Deferred tax assets		31,741		36,066		4,941
Goodwill		—		136,250		18,666

Total assets		16,228,009		18,382,970		2,518,456

Liabilities and equity
Current liabilities
Accounts payable		616,681		615,254		84,288
Deferred revenue		442,805		427,702		58,595
Accrued expenses and other current liabilities		630,617		704,410		96,504
Amounts due to related parties		4,314		—		—
Lease liabilities due within one year		60,008		141,971		19,450
Income tax payable		94,719		157,057		21,517
Deferred consideration in connection with business acquisitions-current		27,261		28,027		3,840
Convertible Senior Notes-current		—		20,191		2,766
Long-term borrowings, current portion		215,615		1,938,385		265,558
Short-term borrowings		—		2,365,535		324,077

Total current liabilities		2,092,020		6,398,532		876,595
Deferred consideration in connection with business acquisitions-non current		—		65,694		9,000
Lease liabilities		52,171		115,105		15,769
Deferred tax liabilities		24,987		241,915		33,142
Convertible Senior Notes		19,571		—		—
Long-term borrowings		1,938,385		—		—
Other non-current liabilities		114,085		129,051		17,680

Total liabilities		4,241,219		6,950,297		952,186
Shareholder’s equity (i)		11,986,790		11,432,673		1,566,270

Total liabilities and shareholder’s equity		16,228,009		18,382,970		2,518,456

(i): As of December 31, 2024, the number of ordinary shares outstanding was 328,185,708.

Hello Group Inc.

Unaudited Condensed Consolidated Statement of Cash Flows

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


	Three months Ended December 31									Year Ended December 31
	2023 RMB			2024 RMB			2024 US$			2023 RMB			2024 RMB			2024 US$
Cash flows from operating activities:
Net income		452,469			187,235			25,649			1,951,695			1,039,573			142,420
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of property and equipment		15,394			11,868			1,626			74,492			52,847			7,240
Amortization of intangible assets		1,279			2,049			281			5,116			5,886			806
Share-based compensation		62,224			42,493			5,822			267,101			192,572			26,382
Share of loss (income) on equity method investments		38,703			514			70			70,643			(59,216	)		(8,113	)
Gain on repurchase of convertible senior notes		—			—			—			(4,565	)		—			—
Cash received on distributions from equity method investments		—			730			100			2,067			1,927			264
Loss on long-term investments		31,250			46,639			6,390			31,250			90,509			12,400
Gain or loss on disposal of property and equipment		2			—			—			(518	)		(62	)		(8	)
Provision of loss (income) on receivable and other assets		1,553			(57	)		(8	)		11,624			3,618			496
Changes in operating assets and liabilities:
Accounts receivable		(11,392	)		(4,347	)		(596	)		(21,308	)		7,605			1,042
Prepaid expenses and other current assets		(13,492	)		27,035			3,704			84,802			(64,811	)		(8,879	)
Amounts due from related parties		(144	)		—			—			(27,203	)		—			—
Rental deposits		5,524			—			—			7,776			(309	)		(42	)
Deferred tax assets		1,728			(128	)		(18	)		2,600			(4,323	)		(592	)
Other non-current assets		16,033			101,561			13,914			(11,606	)		(81,837	)		(11,212	)
Accounts payable		(25,118	)		8,139			1,115			13,707			(7,571	)		(1,037	)
Income tax payable		5,456			63,625			8,717			25,952			62,337			8,540
Deferred revenue		(31,253	)		(26,219	)		(3,592	)		(42,390	)		(25,651	)		(3,514	)
Accrued expenses and other current liabilities		(11,586	)		78,250			10,720			(183,772	)		139,607			19,126
Amount due to related parties		639			—			—			(4,865	)		—			—
Deferred tax liabilities		(130,345	)		(81,498	)		(11,165	)		(147	)		212,835			29,158
Other non-current liabilities		6,953			(34,247	)		(4,692	)		24,710			74,458			10,201

Net cash provided by operating activities		415,877			423,642			58,037			2,277,161			1,639,994			224,678
Cash flows from investing activities:
Purchase of property and equipment		(316,847	)		(21,727	)		(2,977	)		(576,310	)		(285,541	)		(39,119	)
Payment for long-term investments		(9,750	)		(35,959	)		(4,926	)		(18,750	)		(69,209	)		(9,482	)
Payment for business acquisition		—			(136,642	)		(18,720	)		—			(136,642	)		(18,720	)
Purchase of short-term deposits		—			—			—			(1,028,556	)		(2,133,086	)		(292,232	)
Cash received on maturity of short-term deposits		800,000			1,047,165			143,461			6,209,820			2,128,181			291,560
Cash received from sales of short - term investment		308,550			—			—			308,550			—			—
Cash received on investment income distribution		—			120			16			1,517			120			16
Purchase of long-term deposits		(361,165	)		—			—			(4,210,025	)		(718,860	)		(98,483	)
Cash received on maturity of long-term deposits		—			200,000			27,400			1,700,000			918,860			125,883
Cash received from sales of long-term investment		10,000			—			—			25,000			2,000			274
Loan to a third-party company		—			(168,933	)		(23,144	)		—			(265,613	)		(36,389	)
Other investing activities		1			8			1			1,823			903			124

Net cash provided by (used in) investing activities		430,789			884,032			121,111			2,413,069			(558,887	)		(76,568	)
Cash flows from financing activities:
Proceeds from exercise of share options		31			1			—			601			18			2
Repurchase of ordinary shares		(150,191	)		(425,176	)		(58,249	)		(212,195	)		(1,197,439	)		(164,048	)
Repurchase of subsidiary’s share options		—			—			—			(4,319	)		—			—
Dividends payment		(20,803	)		—			—			(958,052	)		(716,302	)		(98,133	)
Proceeds from short-term borrowings		—			—			—			—			2,365,535			324,077
Proceeds from long-term borrowings		—			—			—			2,154,000			—			—
Repayment of long-term borrowings		—			—			—			—			(215,615	)		(29,539	)
Payment for redemption of convertible bonds		—			—			—			(2,679,942	)		—			—

Net cash (used in) provided by financing activities		(170,963	)		(425,175	)		(58,249	)		(1,699,907	)		236,197			32,359
Effect of exchange rate changes		(34,609	)		172,439			23,628			93,988			42,205			5,784

Net increase in cash and cash equivalents		641,094			1,054,938			144,527			3,084,311			1,359,509			186,253
Cash, cash equivalents and restricted cash at the beginning of period		7,641,818			8,587,483			1,176,480			5,198,601			8,282,912			1,134,754
Cash, cash equivalents and restricted cash at the end of period		8,282,912			9,642,421			1,321,007			8,282,912			9,642,421			1,321,007

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 December 31, 2023								Three months Ended December 31, 2024										Three months Ended December 31, 2024
	GAAP RMB			Share-based compensation RMB		Non-GAAP RMB			GAAP RMB			Amortization of intangible assets from business acquisitions RMB		Share-based compensation RMB		Non-GAAP RMB			GAAP US$			Amortization of intangible assets from business acquisitions US$		Share-based compensation US$		Non-GAAP US$
Cost of revenues		(1,770,117	)		1,909		(1,768,208	)		(1,724,821	)		128		1,822		(1,722,871	)		(236,300	)		18		250		(236,032	)
Research and development		(231,445	)		13,375		(218,070	)		(222,684	)		120		10,198		(212,366	)		(30,508	)		16		1,397		(29,095	)
Sales and marketing		(304,696	)		8,653		(296,043	)		(316,699	)		521		4,480		(311,698	)		(43,388	)		71		614		(42,703	)
General and administrative		(125,498	)		38,287		(87,211	)		(143,621	)		—		25,993		(117,628	)		(19,676	)		—		3,561		(16,115	)

Cost and operating expenses		(2,431,756	)		62,224		(2,369,532	)		(2,407,825	)		769		42,493		(2,364,563	)		(329,872	)		105		5,822		(323,945	)
Income from operations		601,997			62,224		664,221			236,686			769		42,493		279,948			32,424			105		5,822		38,351
Net income attributable to Hello Group Inc.		452,469			62,224		514,693			187,235			769		42,493		230,497			25,649			105		5,822		31,576

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-continued.


	Year Ended December 31, 2023								Year Ended December 31, 2024										Year Ended December 31, 2024
	GAAP RMB			Share-based compensation RMB		Non-GAAP RMB			GAAP RMB			Amortization of intangible assets from business acquisitions RMB		Share-based compensation RMB		Non-GAAP RMB			GAAP US$			Amortization of intangible assets from business acquisitions US$		Share-based compensation US$		Non-GAAP US$
Cost of revenues		(7,025,394	)		6,307		(7,019,087	)		(6,447,341	)		128		7,643		(6,439,570	)		(883,282	)		18		1,047		(882,217	)
Research and development		(884,590	)		64,561		(820,029	)		(804,425	)		120		43,526		(760,779	)		(110,206	)		16		5,963		(104,227	)
Sales and marketing		(1,414,949	)		29,066		(1,385,883	)		(1,329,780	)		521		19,520		(1,309,739	)		(182,179	)		71		2,674		(179,434	)
General and administrative		(502,479	)		167,167		(335,312	)		(507,658	)		—		121,883		(385,775	)		(69,549	)		—		16,698		(52,851	)

Cost and operating expenses		(9,827,412	)		267,101		(9,560,311	)		(9,089,204	)		769		192,572		(8,895,863	)		(1,245,216	)		105		26,382		(1,218,729	)
Income from operations		2,305,016			267,101		2,572,117			1,532,770			769		192,572		1,726,111			209,988			105		26,382		236,475
Net income attributable to Hello Group Inc.		1,957,581			267,101		2,224,682			1,039,573			769		192,572		1,232,914			142,420			105		26,382		168,907

Hello Group Inc.

Unaudited Condensed Segment Report

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


	Three months Ended December 31, 2024
	Momo RMB			Tantan RMB			QOOL RMB			Total RMB			Total US$
Net revenues:
Live video service		1,189,118			75,733			—			1,264,851			173,284
Value-added service		1,198,951			127,813			—			1,326,764			181,766
Mobile marketing		33,772			9,858			—			43,630			5,977
Other services		1,222			—			29			1,251			171

Total net revenues		2,423,063			213,404			29			2,636,496			361,198
Cost and expenses (ii):
Cost of revenues		(1,621,151	)		(103,670	)		—			(1,724,821	)		(236,300	)
Research and development		(181,255	)		(41,429	)		—			(222,684	)		(30,508	)
Sales and marketing		(267,065	)		(48,978	)		(656	)		(316,699	)		(43,388	)
General and administrative		(134,200	)		(9,124	)		(297	)		(143,621	)		(19,676	)

Total cost and expenses		(2,203,671	)		(203,201	)		(953	)		(2,407,825	)		(329,872	)
Other operating income		7,032			928			55			8,015			1,098

Income (loss) from operations		226,424			11,131			(869	)		236,686			32,424
Interest income		123,822			216			7			124,045			16,994
Interest expense		(36,846	)		—			—			(36,846	)		(5,048	)
Other gain or loss, net		(46,639	)		—			—			(46,639	)		(6,390	)

Income (loss) before income tax and share of loss on equity method investments		266,761			11,347			(862	)		277,246			37,980
Income tax (expenses) benefits		(89,919	)		455			(33	)		(89,497	)		(12,261	)

Income (loss) before share of loss on equity method investments		176,842			11,802			(895	)		187,749			25,719
Share of loss on equity method investments		(514	)		—			—			(514	)		(70	)

Net income (loss)		176,328			11,802			(895	)		187,235			25,649

(ii)	Share-based compensation was allocated in cost of revenues and operating expenses as follows:


	Three months Ended December 31, 2024
	Momo RMB		Tantan RMB		QOOL RMB		Total RMB		Total US$
Cost of revenues		1,822		—		—		1,822		250
Research and development		9,956		242		—		10,198		1,397
Sales and marketing		4,480		—		—		4,480		614
General and administrative		25,993		—		—		25,993		3,561

Total cost and expenses		42,251		242		—		42,493		5,822

Hello Group Inc.

Reconciliation of GAAP and NON-GAAP Results of Unaudited Segment Report

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


	Three months Ended December 31, 2024
	Momo RMB		Tantan RMB		QOOL RMB			Total RMB		Total US$
Income (loss) from operations		226,424		11,131		(869	)		236,686		32,424
Share-based compensation		42,251		242		—			42,493		5,822
Amortization of intangible assets from business acquisitions		769		—		—			769		105

Non-GAAP income (loss) from operations		269,444		11,373		(869	)		279,948		38,351
Net income (loss)		176,328		11,802		(895	)		187,235		25,649
Share-based compensation		42,251		242		—			42,493		5,822
Amortization of intangible assets from business acquisitions		769		—		—			769		105

Non-GAAP net income (loss)		219,348		12,044		(895	)		230,497		31,576

Hello Group Inc.

Unaudited Condensed Segment Report

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


	Three months Ended December 31, 2023
	Momo RMB			Tantan RMB			QOOL RMB			Total RMB			Total US$¹
Net revenues:
Live video service		1,423,730			100,155			—			1,523,885			214,635
Value-added service		1,264,358			160,535			—			1,424,893			200,692
Mobile marketing		33,395			11,520			—			44,915			6,326
Mobile games		5,441			—			—			5,441			766
Other services		1,760			—			2,038			3,798			535

Total net revenues		2,728,684			272,210			2,038			3,002,932			422,954
Cost and expenses (iii):
Cost of revenues		(1,638,915	)		(130,237	)		(965	)		(1,770,117	)		(249,316	)
Research and development		(180,343	)		(51,102	)		—			(231,445	)		(32,598	)
Sales and marketing		(244,043	)		(58,444	)		(2,209	)		(304,696	)		(42,916	)
General and administrative		(117,923	)		(6,882	)		(693	)		(125,498	)		(17,676	)

Total cost and expenses		(2,181,224	)		(246,665	)		(3,867	)		(2,431,756	)		(342,506	)
Other operating income, net		29,442			1,301			78			30,821			4,341

Income (loss) from operations		576,902			26,846			(1,751	)		601,997			84,789
Interest income		124,294			57			3			124,354			17,515
Interest expense		(20,552	)		—			—			(20,552	)		(2,895	)
Other gain or loss, net		(31,250	)		—			—			(31,250	)		(4,401	)

Income (loss) before income tax and share of loss on equity method investments		649,394			26,903			(1,748	)		674,549			95,008
Income tax expenses		(180,669	)		(2,708	)		—			(183,377	)		(25,828	)

Income (loss) before share of loss on equity method investments		468,725			24,195			(1,748	)		491,172			69,180
Share of loss on equity method investments		(38,703	)		—			—			(38,703	)		(5,451	)

Net income (loss)		430,022			24,195			(1,748	)		452,469			63,729

(iii)

Share-based compensation was allocated in cost of revenues and operating expenses as follows:


	Three months Ended December 31, 2023
	Momo RMB		Tantan RMB		QOOL RMB		Total RMB		Total US$
Cost of revenues		1,905		4		—		1,909		269
Research and development		13,194		181		—		13,375		1,884
Sales and marketing		8,653		—		—		8,653		1,219
General and administrative		38,279		8		—		38,287		5,393

Total cost and expenses		62,031		193		—		62,224		8,765

¹	All translations from RMB to U.S. dollars are made at a rate of RMB7.0999 to US$1.00, the effective noon buying rate for December 29, 2023 as set forth in the H.10 statistical release of the Federal Reserve Board.

Hello Group Inc.

Reconciliation of GAAP and NON-GAAP Results of Unaudited Segment Report

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


	Three months Ended December 31, 2023
	Momo RMB		Tantan RMB		QOOL RMB			Total RMB		Total US$
Income (loss) from operations		576,902		26,846		(1,751	)		601,997		84,789
Share-based compensation		62,031		193		—			62,224		8,765

Non-GAAP income (loss) from operations		638,933		27,039		(1,751	)		664,221		93,554
Net income (loss)		430,022		24,195		(1,748	)		452,469		63,729
Share-based compensation		62,031		193		—			62,224		8,765

Non-GAAP net income (loss)		492,053		24,388		(1,748	)		514,693		72,494

Hello Group Inc.

Unaudited Condensed Segment Report

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


	Year Ended December 31, 2024
	Momo RMB			Tantan RMB			QOOL RMB			Total RMB			Total US$
Net revenues:
Live video service		4,779,865			312,989			—			5,092,854			697,718
Value-added service		4,772,811			549,915			—			5,322,726			729,210
Mobile marketing		105,169			37,781			—			142,950			19,584
Mobile games		432			—			—			432			59
Other services		3,137			—			872			4,009			550

Total net revenues		9,661,414			900,685			872			10,562,971			1,447,121
Cost and expenses (iv):
Cost of revenues		(6,029,415	)		(417,887	)		(39	)		(6,447,341	)		(883,282	)
Research and development		(643,457	)		(160,968	)		—			(804,425	)		(110,206	)
Sales and marketing		(1,103,475	)		(220,966	)		(5,339	)		(1,329,780	)		(182,179	)
General and administrative		(473,778	)		(32,868	)		(1,012	)		(507,658	)		(69,549	)

Total cost and expenses		(8,250,125	)		(832,689	)		(6,390	)		(9,089,204	)		(1,245,216	)
Other operating income		56,069			2,853			81			59,003			8,083

Income (loss) from operations		1,467,358			70,849			(5,437	)		1,532,770			209,988
Interest income		510,162			789			13			510,964			70,002
Interest expense		(127,846	)		—			—			(127,846	)		(17,515	)
Other gain or loss, net		(90,509	)		—			—			(90,509	)		(12,400	)

Income (loss) before income tax and share of income on equity method investments		1,759,165			71,638			(5,424	)		1,825,379			250,075
Income tax expenses		(843,640	)		(1,349	)		(33	)		(845,022	)		(115,768	)

Income (loss) before share of income on equity method investments		915,525			70,289			(5,457	)		980,357			134,307
Share of income on equity method investments		59,216			—			—			59,216			8,113

Net income (loss)		974,741			70,289			(5,457	)		1,039,573			142,420

(iv)	Share-based compensation was allocated in cost of revenues and operating expenses as follows:


	Year Ended December 31, 2024
	Momo RMB		Tantan RMB		QOOL RMB		Total RMB		Total US$
Cost of revenues		7,639		4		—		7,643		1,047
Research and development		38,452		5,074		—		43,526		5,963
Sales and marketing		19,520		—		—		19,520		2,674
General and administrative		121,867		16		—		121,883		16,698

Total cost and expenses		187,478		5,094		—		192,572		26,382

Hello Group Inc.

Reconciliation of GAAP and NON-GAAP Results of Unaudited Segment Report

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


	Year Ended December 31, 2024
	Momo RMB		Tantan RMB		QOOL RMB			Total RMB		Total US$
Income (loss) from operations		1,467,358		70,849		(5,437	)		1,532,770		209,988
Share-based compensation		187,478		5,094		—			192,572		26,382
Amortization of intangible assets from business acquisitions		769		—		—			769		105

Non-GAAP income (loss) from operations		1,655,605		75,943		(5,437	)		1,726,111		236,475
Net income (loss)		974,741		70,289		(5,457	)		1,039,573		142,420
Share-based compensation		187,478		5,094		—			192,572		26,382
Amortization of intangible assets from business acquisitions		769		—		—			769		105

Non-GAAP net income (loss)		1,162,988		75,383		(5,457	)		1,232,914		168,907

Hello Group Inc.

Unaudited Condensed Segment Report

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


	Year Ended December 31, 2023
	Momo RMB			Tantan RMB			QOOL RMB			Total RMB			Total US$
Net revenues:
Live video service		5,567,894			504,977			—			6,072,871			855,346
Value-added service		5,085,541			667,030			—			5,752,571			810,233
Mobile marketing		109,125			24,552			—			133,677			18,828
Mobile games		19,610			—			—			19,610			2,762
Other services		16,337			—			7,257			23,594			3,323

Total net revenues		10,798,507			1,196,559			7,257			12,002,323			1,690,492
Cost and expenses (v):
Cost of revenues		(6,404,042	)		(599,348	)		(22,004	)		(7,025,394	)		(989,506	)
Research and development		(664,340	)		(220,250	)		—			(884,590	)		(124,592	)
Sales and marketing		(1,138,505	)		(268,652	)		(7,792	)		(1,414,949	)		(199,291	)
General and administrative		(467,537	)		(26,482	)		(8,460	)		(502,479	)		(70,773	)

Total cost and expenses		(8,674,424	)		(1,114,732	)		(38,256	)		(9,827,412	)		(1,384,162	)
Other operating income		125,318			4,411			376			130,105			18,325

Income (loss) from operations		2,249,401			86,238			(30,623	)		2,305,016			324,655
Interest income		435,451			713			89			436,253			61,445
Interest expense		(62,223	)		—			—			(62,223	)		(8,764	)
Other gain or loss, net		(26,685	)		—			—			(26,685	)		(3,759	)

Income (loss) before income tax and share of loss on equity method investments		2,595,944			86,951			(30,534	)		2,652,361			373,577
Income tax expenses		(623,844	)		(6,179	)		—			(630,023	)		(88,737	)

Income (loss) before share of loss on equity method investments		1,972,100			80,772			(30,534	)		2,022,338			284,840
Share of loss on equity method investments		(70,643	)		—			—			(70,643	)		(9,950	)

Net income (loss)		1,901,457			80,772			(30,534	)		1,951,695			274,890

(v)	Share-based compensation was allocated in cost of revenues and operating expenses as follows:


	Year Ended December 31, 2023
	Momo RMB		Tantan RMB		QOOL RMB		Total RMB		Total US$
Cost of revenues		6,167		140		—		6,307		888
Research and development		49,987		14,574		—		64,561		9,093
Sales and marketing		29,061		5		—		29,066		4,094
General and administrative		167,135		32		—		167,167		23,545

Total cost and expenses		252,350		14,751		—		267,101		37,620

Hello Group Inc.

Reconciliation of GAAP and NON-GAAP Results of Unaudited Segment Report

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


	Year ended December 31, 2023
	Momo RMB		Tantan RMB		QOOL RMB			Total RMB		Total US$
Operating income (loss) from operations		2,249,401		86,238		(30,623	)		2,305,016		324,655
Share-based compensation		252,350		14,751		—			267,101		37,620

Non-GAAP operating income (loss) from operations		2,501,751		100,989		(30,623	)		2,572,117		362,275
Net income (loss)		1,901,457		80,772		(30,534	)		1,951,695		274,890
Share-based compensation		252,350		14,751		—			267,101		37,620

Non-GAAP net income (loss)		2,153,807		95,523		(30,534	)		2,218,796		312,510