Match Group Inc Q3 2025 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Cory Carpenter - JPMorgan Chase & Co - Analyst : Spencer, you mentioned in your prepared remarks that the early reinvestments are giving you confidence in your strategy. Could you expand a bit on the green shoots you're seeing across the broader company and then, also at Tinder, specifically?

Question: Nathaniel Feather - Morgan Stanley & Co LLC - Analyst : Really encouraging to see the faster product velocity at Tinder. Any particular sense if that's also accelerating the curve as you think of user outcomes and underlying metrics? Connected to that, as you start prioritizing user outcomes, you mentioned a negative Tinder revenue headwind in 4Q, to what extent should we expect that to continue into next year as you continue to make these product improvements?

Question: Jason Helfstein - Oppenheimer & Co Inc - Analyst : Just, maybe, follow up a little bit. You did elaborate in the letter that you plan to unlock $40 million of payment savings. Is the idea that, like, if you do decide to lean in more into these clean-up initiatives or however you want to describe them, that $90 million could help potentially offset that revenue headwind next year? Like, to that point on Project Aurora and, like, if you did go fully roll this out, like, should investors assume --like, how dramatically would you be willing to let, like, revenue come down of end up with, like, the right place, from a user experience standpoint?

Question: Eric Sheridan - Goldman Sachs Group Inc - Analyst : I think, based on the early learnings in Australia, how do you think about the philosophically going to market with a wider array of offerings and changes to Tinder all at once, relative to looking out towards next year and thinking about being more strategic and directed in the way certain enhancements go global, either by country-by country or by geo? Just curious how you think about that.

Question: Ygal Arounian - Citi Infrastructure Investments LLC - Analyst : Spencer, you mentioned MAU is stabilizing in is down 9%, 10% range. So you think about the initiatives you're rolling out all the way from the single stuff in certain markets -- the whole kitchen sink, like you said -- in Project Aurora, how do you think about the timeline for -- you're seeing some of these KPIs and green shoots, like what's the timeline to when you think MAUs can start to turn around and start to move in the other direction? And then, on the in-app payment, the upside to the savings that you're seeing now versus what you called out last quarter, can you talk about what's driving that? What you've seen that's driving more savings?

Question: Logan Whalley, CFA - Cowen and Company LLC - Analyst : It's Logan Whalley, on for John. Could you talk about any traction or the traction that you cited from recent marketing efforts; and then, how you approach the opportunity with lapsed daters versus those that have never used the app before? And then, sticking to marketing on the cost side, maybe how you're thinking about marketing spend and the traditionally more expensive 4Q advertising season?

Question: Youssef Squali - Truist Securities Inc - Analyst : Spencer, can you please talk about the state of the broader dating in the market in the US -- how it's performing -- given the the macro environment, competitive intensity? Any early read or impacts from Facebook Dating? And then, Steve, just quickly, what does the Q4 revenue guide imply, in terms of payers's growth and RPP?

Question: Christopher Kuntarich - UBS AG - Analyst : Maybe just one on Face Check. You mentioned it being fully rolled out in the US by the end of the year. I just want to clarify: Does that include existing users? If it doesn't, could you just give us a bit of an update on your thinking about rolling out to that cohort of users for Tinder? And then, maybe just one follow-up. Any early read on the level of inefficient marketing spend that you've been able to identify with Project Prism?