Hello Group Inc-ADR · Q2 2025 earnings

Briefing

Hello Group Q2 2025: revenue down 2.6% to RMB2.62B as overseas growth offsets mainland softness

Hello Group (MOMO) reported Q2 2025 net revenues of RMB2,620.4 million, down 2.6% year over year, as weak consumer sentiment weighed on the legacy Momo and Tantan apps in China while overseas revenue surged 72.7% to RMB442.4 million led by Soulchill and new MENA brands. Net loss attributable to Hello Group was RMB140.2 million versus net income of RMB397.8 million in Q2 2024, primarily due to a RMB547.9 million one-time withholding tax accrual after Chinese tax authorities required Momo Beijing to withhold at 10% instead of a previously applied 5% preferential rate on dividends to Hong Kong. Non-GAAP net loss attributable was RMB96.0 million versus non-GAAP net income of RMB449.2 million. Diluted GAAP EPS was a loss of RMB0.42 per ordinary share (RMB0.84 per ADS); non-GAAP diluted EPS was a loss of RMB0.29 per ordinary share. Income from operations was RMB403.5 million and non-GAAP operating income was RMB447.7 million. Momo paying users fell to 3.5 million from 7.2 million, while Tantan had 0.7 million paying users. Management guided Q3 revenue of RMB2.59–2.69 billion.

• Net revenue of RMB2.62B (-2.6% YoY) with overseas revenue up 72.7% to RMB442.4M offsetting mainland decline to RMB2.18B
• GAAP net loss attributable RMB140.2M driven by RMB547.9M one-time dividend withholding tax accrual unrelated to core operations
• Non-GAAP net loss attributable RMB96.0M; operating income RMB403.5M with non-GAAP operating income RMB447.7M
• Momo paying users 3.5M vs 7.2M YoY; Tantan paying users 0.7M vs 1.0M YoY; Tantan MAU 10.2M in June 2025
• Q3 2025 revenue guidance RMB2.59–2.69B (-3.2% to +0.6% YoY); $300.3M of ADS repurchases completed to date

Headline financials

Revenue & EPS history

For Q3 2025, Hello Group expects total net revenues of RMB2.59 billion to RMB2.69 billion, representing a year-over-year decrease of 3.2% to an increase of 0.6%.