Hello Group Inc. (NASDAQ: MOMO) reported fourth‑quarter 2025 results on March 18 2026, showing total revenue of RMB 2,575.8 million (US$368.3 million), a 2.3% year‑over‑year decline from RMB 2,636.5 million in Q4 2024. Net income for the quarter was RMB 237.8 million (US$34.0 million), up from RMB 187.2 million in the same period last year, reflecting stronger profitability despite the revenue dip.
Domestic revenue fell to RMB 1,967.6 million, while overseas revenue rose to RMB 608.2 million. The overseas segment’s 70.3% year‑over‑year growth was driven by audio‑ and video‑based products and dating brands outside mainland China, with notable contributions from MENA‑region offerings such as Yaha Live and Amar.
Full‑year 2025 figures show total revenue of RMB 10,367.1 million, a 1.9% decline from RMB 10,367.1 million in 2024, and net income of RMB 804.0 million, down from RMB 1,039.6 million. The year‑over‑year revenue drop is largely attributable to domestic headwinds, while overseas expansion offsets the decline.
For Q1 2026, Hello Group guided total net revenues of RMB 2.3 billion to RMB 2.4 billion, a year‑over‑year decline of 8.8% to 4.8%. Management highlighted continued pressure in the domestic market but maintained confidence in the overseas expansion trajectory, underscoring the overseas business as a key growth engine.
Gross margin for Q4 2025 was 37.8%, up from 34.7% in Q4 2024, and operating margin remained above the 10% target, reflecting effective cost control and a favorable mix shift toward higher‑margin overseas products.
COO Sichuan Zhang emphasized that the overseas business “has now solidified as an important revenue contributor for the Group and stands as the key engine for our future overall growth.” CFO Cathy Peng noted that the Q4 gross margin “came in better than we had guided in Q3” and that the company’s internal objective is to keep operating margin above 10%, likely in the low‑teens range.
Analysts reacted cautiously to the guidance, noting that while overseas growth is strong, the softer domestic outlook and projected revenue decline for Q1 2026 temper enthusiasm. The mixed results highlight the company’s strategic pivot and the challenges it faces in its core market.
Hello Group also announced a special cash dividend of US$0.28 per ADS, totaling approximately US$42.6 million, and continued its share‑repurchase program, signaling a commitment to returning capital to shareholders.
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