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BEIJING, Nov. 30, 2021 /PRNewswire/ -- Hello Group Inc. (NASDAQ: MOMO) ("Hello Group" or the "Company"), a leading mobile social and entertainment platform in China, today announced its unaudited financial results for the third quarter of 2021.
Third Quarter of 2021 Highlights
First Nine Months of 2021 Highlights
* This press release contains translations of certain Renminbi amounts into U.S. dollars at specified rates 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 RMB6.4434 to US$1.00, the effective noon buying rate for September 30, 2021 as set forth in the H.10 statistical release of the Federal Reserve Board. |
"The third quarter of 2021 was a good quarter with solid financial results." commented Li Wang, CEO of Hello Group. "We continued to push forward with all of our strategic goals. For the first time since the beginning of the COVID-19 pandemic, core Momo revenue has achieved year-over-year growth. Although we still have many hard work to do at Tantan, I am glad that we are finally on track to make concrete progresses on the product fronts."
Third Quarter of 2021 Financial Results
Net revenues
Total net revenues were RMB3,759.2 million (US$583.4 million) in the third quarter of 2021, a decrease of 0.2% from RMB3,766.7 million in the third quarter of 2020.
Live video service revenues were RMB2,166.7 million (US$336.3 million) in the third quarter of 2021, a decrease of 8.8% from RMB2,374.8 million during the same period of 2020. The decrease was primarily attributable to (a) the decrease in Tantan's live streaming revenue due to the shift of our strategic focus; (b) our structural reform on the Company's core live video business.
Value-added service revenues mainly include virtual gift revenues and membership subscription revenues. Total value-added service revenues were RMB1,533.3 million (US$238.0 million) in the third quarter of 2021, an increase of 15.2% from RMB1,330.8 million during the same period of 2020. The year-over-year increase was primarily attributable to the continued growth of the virtual gift business on the Momo application driven by the introduction of innovative features and operational events in the audio and video social entertainment experiences, and to a lesser extent, incremental revenues contributed by new standalone apps. The increase was partially offset by the decrease in the value-added service revenues of Tantan, due to our demonetization measures to improve user experience and retention.
Mobile marketing revenues were RMB43.3 million (US$6.7 million) in the third quarter of 2021, a decrease of 14.1% from RMB50.4 million during the same period of 2020. The decrease in mobile marketing revenues was due to our strategy to underweight the line in terms of resource allocation, and to a lesser extent, our product adjustment to address new regulation requirement.
Mobile games revenues were RMB8.1 million (US$1.3 million) in the third quarter of 2021, an increase of 1.0% from RMB8.0 million in the third quarter of 2020.
Net revenues from the Momo segment increased from RMB3,037.0 million in the third quarter of 2020 to RMB3,246.3 million (US$503.8 million) in the third quarter of 2021, primarily due to the increase in net revenues from value-added service, partially offset by the decrease in net revenues from live video service. Net revenues from the Tantan segment decreased from RMB728.9 million in the third quarter of 2020 to RMB510.7 million (US$79.3 million) in the third quarter of 2021, due to the shift of our strategic focus from driving paying conversion to lowering the monetization level in order to improve user experience and drive overall user growth.
Cost and expenses
Cost and expenses were RMB3,319.9 million (US$515.2 million) in the third quarter of 2021, an increase of 1.9% from RMB3,258.5 million in the third quarter of 2020. The increase was primarily attributable to: (a) an increase in revenue sharing with virtual gift recipients for our virtual gift service, and broadcasters related to Momo's core live video service; (b) an increase of RMB48.5 million (US$7.5 million) in production costs in connection with a television program and a film. These increases were partially offset by a decrease in revenue sharing with broadcasters related to Tantan's live video service, a decrease in marketing and promotional expenses to attract users on Tantan platforms, and a decrease in personnel related costs including share-based compensation expenses resulting from the decreased number of employees and the decreased fair value of the share options granted during the period.
Non-GAAP cost and expenses (note 1) were RMB3,143.2 million (US$487.8 million) in the third quarter of 2021, an increase of 3.0% from RMB3,052.0 million during the same period of 2020.
Income from operations
Income from operations was RMB460.5 million (US$71.5 million) in the third quarter of 2021, compared to RMB531.1 million during the same period of 2020. Income from operations of the Momo segment was RMB676.5 million (US$105.0 million) in the third quarter of 2021, which increased from RMB658.7 million in the third quarter of 2020. Loss from operations of the Tantan segment was RMB179.8 million (US$27.9 million) in the third quarter of 2021, compared to loss from operations of RMB121.5 million in the third quarter of 2020.
Non-GAAP income from operations (note 1) was RMB637.2 million (US$98.9 million) in the third quarter of 2021, compared to RMB737.6 million during the same period of 2020. Non-GAAP income from operations of the Momo segment was RMB786.3 million (US$122.0 million) in the third quarter of 2021, which decreased from RMB805.8 million in the third quarter of 2020. Non-GAAP loss from operations of the Tantan segment was RMB112.9 million (US$17.5 million) in the third quarter of 2021, compared to non-GAAP loss from operations of RMB64.7 million in the third quarter of 2020.
Income tax expenses
Income tax expenses were RMB143.2 million (US$22.2 million) in the third quarter of 2021, compared to RMB143.6 million in the third quarter of 2020.
Net income
Net income was RMB395.9 million (US$61.4 million) in the third quarter of 2021, compared to RMB456.0 million during the same period of 2020. Net income from the Momo segment was RMB611.1 million (US$94.8 million) in the third quarter of 2021, which increased from RMB576.2 million in the third quarter of 2020. Net loss from the Tantan segment was RMB179.0 million (US$27.8 million) in the third quarter of 2021, compared to net loss of RMB114.2 million in the third quarter of 2020.
Non-GAAP net income (note 1) was RMB564.3 million (US$87.6 million) in the third quarter of 2021, compared to RMB653.1 million during the same period of 2020. Non-GAAP net income from the Momo segment was RMB720.9 million (US$111.9 million) in the third quarter of 2021, which decreased from RMB723.4 million in the third quarter of 2020. Non-GAAP net loss of the Tantan segment was RMB120.5 million (US$18.7 million) in the third quarter of 2021, compared to non-GAAP net loss of RMB66.9 million in the third quarter of 2020.
Net income attributable to Hello Group Inc.
Net income attributable to Hello Group Inc. was RMB403.2 million (US$62.6 million) in the third quarter of 2021, compared to RMB456.7 million during the same period of 2020.
Non-GAAP net income (note 1) attributable to Hello Group Inc. was RMB571.6 million (US$88.7 million) in the third quarter of 2021, compared to RMB653.8 million during the same period of 2020.
Net income per ADS
Diluted net income per ADS was RMB1.93 (US$0.30) in the third quarter of 2021, compared to RMB2.11 in the third quarter of 2020.
Non-GAAP diluted net income per ADS (note 1) was RMB2.70 (US$0.42) in the third quarter of 2021, compared to RMB2.98 in the third quarter of 2020.
Cash and cash flow
As of September 30, 2021, the Company's cash, cash equivalents, short-term deposits, long-term deposits, short-term restricted cash and long-term restricted cash totaled RMB15,173.3 million (US$2,354.9 million), compared to RMB16,482.3 million as of December 31, 2020. Net cash provided by operating activities in the third quarter of 2021 was RMB559.9 million (US$86.9 million), compared to RMB691.1 million in the third quarter of 2020.
First Nine Months of 2021 Financial Results
Net revenues for the first nine months of 2021 were RMB10,901.5 million (US$1,691.9 million), a decrease of 2.9% from RMB11,229.0 million in the same period of 2020.
Net income attributable to Hello Group Inc. was RMB1,329.0 million (US$206.3 million) for the first nine months of 2021, compared to RMB1,452.0 million during the same period of 2020.
Non-GAAP net income attributable to Hello Group Inc. (note 1) was RMB1,756.2 million (US$272.6 million) for the first nine months of 2021, compared to RMB2,059.8 million during the same period of 2020.
Diluted net income per ADS was RMB6.22 (US$0.97) during the first nine months of 2021, compared to RMB6.68 in the same period of 2020.
Non-GAAP diluted net income per ADS (note 1) was RMB8.14 (US$1.26) during the first nine months of 2021, compared to RMB9.36 in the same period of 2020.
Net cash provided by operating activities was RMB893.7 million (US$138.7 million) during the first nine months of 2021, compared to RMB2,041.8 million in the same period of 2020.
Execution of share repurchase program
On September 3, 2020, the Company's board of directors authorized a share repurchase program under which the Company may repurchase up to US$300 million of its shares over the next 12 months. As of September 2, 2021, the Company had repurchased 14.15 million ADSs for a total consideration of US$182.4 million on the open market under this program, at an average purchase price of US$12.87 per ADS.
Business Outlook
For the fourth quarter of 2021, the Company expects total net revenues to be between RMB3.60 billion to RMB3.75 billion, representing a decrease of 5.1% to 1.2% 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 tax impacts related to the amortization of intangible assets from business acquisitions.
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 (loss) from operations, net income (loss)，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, amortization of intangible assets from business acquisitions, and tax impacts related to the amortization of intangible assets from business acquisitions. A limitation of using these non-GAAP financial measures is that share-based compensation, amortization of intangible assets from business acquisitions, and tax impacts related to the 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 Tuesday, November 30, 2021, at 8:00 a.m. U.S. Eastern Time (9:00 p.m. Beijing / Hong Kong Time on November 30, 2021).
All participants must preregister online prior to the call to receive the dial-in details. Once preregistration has been complete, participants will receive dial-in numbers, direct event passcode, and a unique registrant ID.
PRE-REGISTER LINKhttp://apac.directeventreg.com/registration/event/7139276
To join the conference, simply dial the number in the calendar invite you receive after preregistering, enter the passcode followed by your registrant ID, and you will join the conference instantly.
A telephone replay of the call will be available after the conclusion of the conference call through 8:00 a.m. U.S. Eastern Time, December 8, 2021. The dial-in details for the replay are as follows:
International: +61-2-8199-0299U.S. Toll Free: +1-855-452-5696Passcode: 7139276
Additionally, a live and archived webcast of the conference call will be available on the Investor Relations section of the Company's website at http://ir.immomo.com.
About Hello Group Inc.
We are a leading player in China's online social and entertainment 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. It is designed to help its users find and establish romantic connections as well as meet interesting people. We also operate a number of other applications to serve different social and entertainment demands from our users.
For investor and media inquiries, please contact:
Hello Group Inc.
Investor Relations Phone: +86-10-5731-0538Email: ir@immomo.com
Christensen
In ChinaMr. Eric Yuan Phone: +86-10-5900-1548 E-mail: Eyuan@christensenir.com
In US
Ms. Linda BergkampPhone: +1-480-614-3004 Email: lbergkamp@christensenir.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 fourth quarter of 2021, 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 third quarter of 2021 are preliminary, unaudited and subject to audit adjustment. In addition, we may not meet our financial outlook for the fourth quarter of 2021 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 impact of the COVID-19 pandemic on the Company's business operations and the economy in China, 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 | First nine months | ||||||||||
Ended September 30 | Ended September 30 | ||||||||||
2020 | 2021 | 2021 | 2020 | 2021 | 2021 | ||||||
RMB | RMB | US$ | RMB | RMB | US$ | ||||||
Net revenues: | |||||||||||
Live video service | 2,374,824 | 2,166,733 | 336,272 | 7,309,704 | 6,230,160 | 966,906 | |||||
Value-added service | 1,330,839 | 1,533,288 | 237,962 | 3,710,913 | 4,496,059 | 697,777 | |||||
Mobile marketing | 50,415 | 43,323 | 6,724 | 145,534 | 133,641 | 20,741 | |||||
Mobile games | 7,975 | 8,052 | 1,250 | 32,230 | 28,418 | 4,410 | |||||
Other services | 2,598 | 7,784 | 1,208 | 30,606 | 13,212 | 2,051 | |||||
Total net revenues | 3,766,651 | 3,759,180 | 583,416 | 11,228,987 | 10,901,490 | 1,691,885 | |||||
Cost and expenses: | |||||||||||
Cost of revenues | (2,020,779) | (2,183,337) | (338,849) | (5,934,000) | (6,191,911) | (960,970) | |||||
Research and development | (299,221) | (260,939) | (40,497) | (840,382) | (815,757) | (126,604) | |||||
Sales and marketing | (754,892) | (680,896) | (105,673) | (2,116,200) | (1,944,705) | (301,813) | |||||
General and administrative | (183,649) | (194,734) | (30,222) | (540,959) | (459,443) | (71,304) | |||||
Total cost and expenses | (3,258,541) | (3,319,906) | (515,241) | (9,431,541) | (9,411,816) | (1,460,691) | |||||
Other operating income | 22,944 | 21,221 | 3,293 | 140,392 | 137,389 | 21,322 | |||||
Income from operations | 531,054 | 460,495 | 71,468 | 1,937,838 | 1,627,063 | 252,516 | |||||
Interest income | 104,232 | 93,564 | 14,521 | 343,591 | 284,706 | 44,186 | |||||
Interest expense | (19,885) | (18,669) | (2,897) | (59,825) | (55,332) | (8,587) | |||||
Other gain or loss, net | - | - | - | (6,000) | (18,000) | (2,794) | |||||
Income before income tax and share of income on equity method investments | 615,401 | 535,390 | 83,092 | 2,215,604 | 1,838,437 | 285,321 | |||||
Income tax expenses | (143,615) | (143,158) | (22,218) | (750,139) | (526,065) | (81,644) | |||||
Income before share of income on equity method investments | 471,786 | 392,232 | 60,874 | 1,465,465 | 1,312,372 | 203,677 | |||||
Share of (loss) income on equity method investments | (15,763) | 3,658 | 568 | (16,203) | 5,961 | 925 | |||||
Net income | 456,023 | 395,890 | 61,442 | 1,449,262 | 1,318,333 | 204,602 | |||||
Less: net loss attributable to non-controlling interest | (705) | (7,301) | (1,133) | (2,772) | (10,677) | (1,657) | |||||
Net income attributable to the shareholders of Hello Group Inc. | 456,728 | 403,191 | 62,575 | 1,452,034 | 1,329,010 | 206,259 | |||||
Net income per share attributable to ordinary shareholders | |||||||||||
Basic | 1.09 | 1.01 | 0.16 | 3.48 | 3.26 | 0.51 | |||||
Diluted | 1.05 | 0.96 | 0.15 | 3.34 | 3.11 | 0.48 | |||||
Weighted average shares used in calculating net income per ordinary share | |||||||||||
Basic | 417,884,266 | 400,835,428 | 400,835,428 | 417,580,609 | 408,074,205 | 408,074,205 | |||||
Diluted | 452,724,863 | 437,639,164 | 437,639,164 | 452,854,314 | 444,906,615 | 444,906,615 | |||||
Hello Group Inc. | |||||||||||
Unaudited Condensed Consolidated Statement of Comprehensive Income | |||||||||||
(All amounts in thousands, except share and per share data) | |||||||||||
Three months | First nine months | ||||||||||
Ended September 30 | Ended September 30 | ||||||||||
2020 | 2021 | 2021 | 2020 | 2021 | 2021 | ||||||
RMB | RMB | US$ | RMB | RMB | US$ | ||||||
Net income | 456,023 | 395,890 | 61,442 | 1,449,262 | 1,318,333 | 204,602 | |||||
Other comprehensive (loss) income, net of tax: | |||||||||||
Foreign currency translation adjustment | (80,618) | 368 | 57 | (72,667) | (31,830) | (4,940) | |||||
Comprehensive income | 375,405 | 396,258 | 61,499 | 1,376,595 | 1,286,503 | 199,662 | |||||
Less: comprehensive loss attributed to the non-controlling interest | (9,953) | (7,540) | (1,170) | (16,945) | (13,323) | (2,068) | |||||
Comprehensive income attributable to Hello Group Inc. | 385,358 | 403,798 | 62,669 | 1,393,540 | 1,299,826 | 201,730 | |||||
Hello Group Inc. | |||||
Unaudited Condensed Consolidated Balance Sheets | |||||
(All amounts in thousands, except share and per share data) | |||||
December 31 | September 30 | September 30 | |||
2020 | 2021 | 2021 | |||
RMB | RMB | US$ | |||
Assets | |||||
Current assets | |||||
Cash and cash equivalents | 3,363,942 | 3,283,840 | 509,644 | ||
Short-term deposits | 7,566,250 | 6,010,000 | 932,737 | ||
Restricted cash | 2,130 | 2,135 | 331 | ||
Accounts receivable, net of allowance for doubtful accounts of RMB15,390and RMB15,633 as of December 31, 2020 and September 30, 2021, respectively | 200,831 | 218,944 | 33,980 | ||
Prepaid expenses and other current assets | 613,696 | 820,157 | 127,286 | ||
Total current assets | 11,746,849 | 10,335,076 | 1,603,978 | ||
Long-term deposits | 5,550,000 | 5,800,000 | 900,146 | ||
Long-term restricted cash | - | 77,321 | 12,000 | ||
Right-of-use assets, net | 278,175 | 303,623 | 47,122 | ||
Property and equipment, net | 265,765 | 208,529 | 32,363 | ||
Intangible assets, net | 687,211 | 572,687 | 88,880 | ||
Rental deposits | 21,794 | 19,133 | 2,969 | ||
Long-term investments | 454,996 | 737,347 | 114,434 | ||
Other non-current assets | 94,868 | 81,608 | 12,665 | ||
Deferred tax assets | 32,495 | 34,511 | 5,356 | ||
Goodwill | 4,088,403 | 4,037,551 | 626,618 | ||
Total assets | 23,220,556 | 22,207,386 | 3,446,531 | ||
Liabilities and equity | |||||
Current liabilities | |||||
Accounts payable | 699,394 | 720,107 | 111,758 | ||
Deferred revenue | 511,617 | 530,453 | 82,325 | ||
Accrued expenses and other current liabilities | 854,835 | 803,564 | 124,711 | ||
Amount due to related parties | 19,462 | 14,766 | 2,292 | ||
Lease liabilities due within one year | 132,793 | 164,357 | 25,508 | ||
Income tax payable | 236,490 | 165,058 | 25,617 | ||
Deferred consideration in connection with business acquisitions | 62,149 | 45,350 | 7,038 | ||
Total current liabilities | 2,516,740 | 2,443,655 | 379,249 | ||
Deferred tax liabilities | 171,803 | 142,915 | 22,180 | ||
Convertible senior notes | 4,658,966 | 4,612,019 | 715,774 | ||
Share-based compensation liability | 875,616 | - | - | ||
Lease liabilities | 136,436 | 141,949 | 22,030 | ||
Other non-current liabilities | 25,666 | 141,054 | 21,891 | ||
Total liabilities | 8,385,227 | 7,481,592 | 1,161,124 | ||
Shareholder's equity (i) | 14,835,329 | 14,725,794 | 2,285,407 | ||
Total liabilities and shareholder's equity | 23,220,556 | 22,207,386 | 3,446,531 | ||
(i): As of September 30, 2021, the number of ordinary shares outstanding was 393,903,538. | |||||
Hello Group Inc. | |||||||||||
Unaudited Condensed Consolidated Statement of Cash Flows | |||||||||||
(All amounts in thousands, except share and per share data) | |||||||||||
Three months | First nine months | ||||||||||
Ended September 30 | Ended September 30 | ||||||||||
2020 | 2021 | 2021 | 2020 | 2021 | 2021 | ||||||
RMB | RMB | US$ | RMB | RMB | US$ | ||||||
Cash flows from operating activities: | |||||||||||
Net income | 456,023 | 395,890 | 61,442 | 1,449,262 | 1,318,333 | 204,602 | |||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Depreciation of property and equipment | 49,024 | 38,696 | 6,006 | 153,615 | 121,311 | 18,827 | |||||
Amortization of intangible assets | 39,347 | 34,722 | 5,389 | 119,517 | 107,783 | 16,728 | |||||
Share-based compensation | 168,475 | 143,280 | 22,237 | 521,102 | 349,195 | 54,194 | |||||
Share of loss (income) on equity method investments | 15,763 | (3,658) | (568) | 16,203 | (5,961) | (925) | |||||
Loss on long-term investments | - | - | - | 6,000 | 18,000 | 2,794 | |||||
Gain on subsidiary deconsolidation | - | - | - | (6,676) | - | - | |||||
Gain on disposal of subsidiaries | - | - | - | - | (15,526) | (2,410) | |||||
(Gain) loss on disposal of property and equipment | (284) | 2,351 | 365 | (285) | 1,272 | 197 | |||||
Provision of losses (income) on receivable and other assets | 26,006 | (322) | (50) | 26,412 | 242 | 38 | |||||
Cash received on investment income distribution | - | - | - | 1,153 | - | - | |||||
Changes in operating assets and liabilities: | |||||||||||
Accounts receivable | 15,968 | (1,616) | (251) | 17,714 | (24,358) | (3,780) | |||||
Prepaid expenses and other current assets | (207,586) | (85,048) | (13,199) | (163,753) | (203,666) | (31,608) | |||||
Amount due from a related party | 2,029 | - | - | 4,382 | - | - | |||||
Rental deposits | (83) | (922) | (143) | 107 | (1,514) | (235) | |||||
Deferred tax assets | 561 | (782) | (121) | 3,034 | (2,016) | (313) | |||||
Other non-current assets | 9,930 | (57,100) | (8,862) | 28,181 | (8,050) | (1,249) | |||||
Accounts payable | (62,189) | (28,400) | (4,408) | (78,664) | 19,422 | 3,014 | |||||
Income tax payable | 112,799 | 24,947 | 3,872 | 177,855 | (71,431) | (11,086) | |||||
Deferred revenue | 17,442 | 9,369 | 1,454 | (15,830) | 25,454 | 3,950 | |||||
Accrued expenses and other current liabilities | 52,819 | 56,954 | 8,839 | (161,411) | (38,829) | (6,026) | |||||
Amount due to related parties | 13,495 | 1,860 | 289 | 2,262 | (4,696) | (729) | |||||
Deferred tax liability | (9,837) | (8,676) | (1,346) | (29,880) | (26,941) | (4,181) | |||||
Share-based compensation liability | - | - | - | - | (678,153) | (105,248) | |||||
Other non-current liabilities | (8,648) | 38,335 | 5,949 | (28,500) | 13,818 | 2,145 | |||||
Net cash provided by operating activities | 691,054 | 559,880 | 86,894 | 2,041,800 | 893,689 | 138,699 | |||||
Cash flows from investing activities: | |||||||||||
Purchase of property and equipment | (24,078) | (30,919) | (4,799) | (108,048) | (76,122) | (11,814) | |||||
Payment for long-term investments | - | - | - | (4,500) | (300,000) | (46,559) | |||||
Purchase of short-term deposits | (3,053,307) | (2,100,000) | (325,915) | (11,295,165) | (4,576,688) | (710,291) | |||||
Cash received on maturity of short-term deposits | 4,337,085 | 3,458,658 | 536,775 | 15,622,659 | 6,117,570 | 949,432 | |||||
Payment for short-term investments | - | - | - | (10,000) | - | - | |||||
Cash received from sales of short-term investment | - | - | - | 10,000 | - | - | |||||
Cash received on investment income distribution | - | - | - | - | 5,610 | 871 | |||||
Cash of disposed subsidiaries | - | - | - | - | (8,750) | (1,358) | |||||
Purchase of long-term deposits | (1,550,000) | - | - | (4,350,000) | (250,000) | (38,799) | |||||
Other investing activities | 457 | 13 | 2 | (319) | 2,406 | 373 | |||||
Net cash (used in) provided by investing activities | (289,843) | 1,327,752 | 206,063 | (135,373) | 914,026 | 141,855 | |||||
Cash flows from financing activities: | |||||||||||
Deferred payment for business acquisition | - | - | - | (18,355) | (12,907) | (2,003) | |||||
Proceeds from exercise of share options | 54 | 461 | 72 | 55 | 771 | 120 | |||||
Repurchase of ordinary shares | (132,407) | (756,714) | (117,440) | (132,407) | (862,865) | (133,915) | |||||
Repurchase of subsidiary's share options | (24,900) | (48,489) | (7,525) | (24,900) | (54,050) | (8,388) | |||||
Dividends payment | - | - | - | (1,123,983) | (852,743) | (132,344) | |||||
Net cash used in financing activities | (157,253) | (804,742) | (124,893) | (1,299,590) | (1,781,794) | (276,530) | |||||
Effect of exchange rate changes | (45,135) | (3,661) | (571) | (43,174) | (28,697) | (4,455) | |||||
Net increase (decrease) in cash and cash equivalents | 198,823 | 1,079,229 | 167,493 | 563,663 | (2,776) | (431) | |||||
Cash, cash equivalents and restricted cash at the beginning of period | 2,977,583 | 2,284,067 | 354,482 | 2,612,743 | 3,366,072 | 522,406 | |||||
Cash, cash equivalents and restricted cash at the end of period | 3,176,406 | 3,363,296 | 521,975 | 3,176,406 | 3,363,296 | 521,975 | |||||
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 | Three months | Three months | ||||||||||||||||
Ended September 30, 2020 | Ended September 30, 2021 | Ended September 30, 2021 | ||||||||||||||||
GAAP | Amortization ofintangible assetsfrom business acquisitions | Share-based compensation | Tax impacts | Non-GAAP | GAAP | Amortization of intangible assets from business acquisitions | Share-based compensation | Tax impacts | Non-GAAP | GAAP | Amortization of intangible assets from businessacquisitions | Share-basedcompensation | Tax impacts | Non-GAAP | ||||
(ii) | (ii) | (ii) | ||||||||||||||||
RMB | RMB | RMB | RMB | RMB | RMB | RMB | RMB | RMB | RMB | US$ | US$ | US$ | US$ | US$ | ||||
Cost of revenues | (2,020,779) | 18,472 | 4,434 | - | (1,997,873) | (2,183,337) | 17,286 | 6,623 | - | (2,159,428) | (338,849) | 2,683 | 1,028 | - | (335,138) | |||
Research and development | (299,221) | 2,346 | 44,610 | - | (252,265) | (260,939) | - | 29,094 | - | (231,845) | (40,497) | - | 4,515 | - | (35,982) | |||
Sales and marketing | (754,892) | 17,275 | 41,583 | - | (696,034) | (680,896) | 16,165 | 27,653 | - | (637,078) | (105,673) | 2,509 | 4,292 | - | (98,872) | |||
General and administrative | (183,649) | - | 77,848 | - | (105,801) | (194,734) | - | 79,910 | - | (114,824) | (30,222) | - | 12,402 | - | (17,820) | |||
Cost and operating expenses | (3,258,541) | 38,093 | 168,475 | - | (3,051,973) | (3,319,906) | 33,451 | 143,280 | - | (3,143,175) | (515,241) | 5,192 | 22,237 | - | (487,812) | |||
Income from operations | 531,054 | 38,093 | 168,475 | - | 737,622 | 460,495 | 33,451 | 143,280 | - | 637,226 | 71,468 | 5,192 | 22,237 | - | 98,897 | |||
Net income attributable to Hello GroupInc. | 456,728 | 38,093 | 168,475 | (9,523) | 653,773 | 403,191 | 33,451 | 143,280 | (8,363) | 571,559 | 62,575 | 5,192 | 22,237 | (1,298) | 88,706 | |||
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. | ||||||||||||||||||
First nine months | First nine months | First nine months | ||||||||||||||||
Ended September 30, 2020 | Ended September 30, 2021 | Ended September 30, 2021 | ||||||||||||||||
GAAP | Amortization of intangible assetsfrom businessacquisitions | Share-based compensation | Tax impacts | Non-GAAP | GAAP | Amortization ofintangible assetsfrom businessacquisitions | Share-basedcompensation | Tax impacts | Non-GAAP | GAAP | Amortization of intangible assets from business acquisitions | Share-based compensation | Tax impacts | Non-GAAP | ||||
(ii) | (ii) | (ii) | ||||||||||||||||
RMB | RMB | RMB | RMB | RMB | RMB | RMB | RMB | RMB | RMB | US$ | US$ | US$ | US$ | US$ | ||||
Cost of revenues | (5,934,000) | 56,046 | 14,207 | - | (5,863,747) | (6,191,911) | 51,853 | 14,548 | - | (6,125,510) | (960,970) | 8,047 | 2,258 | - | (950,665) | |||
Research and development | (840,382) | 7,118 | 137,355 | - | (695,909) | (815,757) | 3,660 | 103,268 | - | (708,829) | (126,604) | 568 | 16,027 | - | (110,009) | |||
Sales and marketing | (2,116,200) | 52,413 | 131,780 | - | (1,932,007) | (1,944,705) | 48,491 | 59,797 | - | (1,836,417) | (301,813) | 7,526 | 9,280 | - | (285,007) | |||
General and administrative | (540,959) | - | 237,760 | - | (303,199) | (459,443) | - | 171,582 | - | (287,861) | (71,304) | - | 26,629 | - | (44,675) | |||
Cost and operating expenses | (9,431,541) | 115,577 | 521,102 | - | (8,794,862) | (9,411,816) | 104,004 | 349,195 | - | (8,958,617) | (1,460,691) | 16,141 | 54,194 | - | (1,390,356) | |||
Income from operations | 1,937,838 | 115,577 | 521,102 | - | 2,574,517 | 1,627,063 | 104,004 | 349,195 | - | 2,080,262 | 252,516 | 16,141 | 54,194 | - | 322,851 | |||
Net income attributable to Hello Group Inc. | 1,452,034 | 115,577 | 521,102 | (28,894) | 2,059,819 | 1,329,010 | 104,004 | 349,195 | (26,002) | 1,756,207 | 206,259 | 16,141 | 54,194 | (4,035) | 272,559 | |||
(ii) Includes tax impacts related to the amortization of intangible assets from business acquisition. | ||||||||||||||||||
Hello Group Inc. | |||||||||
Unaudited Condensed Segment Report | |||||||||
(All amounts in thousands, except share and per share data) | |||||||||
Three months | |||||||||
Ended September 30, 2021 | |||||||||
Momo | Tantan | QOOL | Total | Total | |||||
RMB | RMB | RMB | RMB | US$ | |||||
Net revenues: | |||||||||
Live video service | 1,932,141 | 234,592 | - | 2,166,733 | 336,272 | ||||
Value-added service | 1,257,158 | 276,130 | - | 1,533,288 | 237,962 | ||||
Mobile marketing | 43,323 | - | - | 43,323 | 6,724 | ||||
Mobile games | 8,052 | - | - | 8,052 | 1,250 | ||||
Other services | 5,589 | - | 2,195 | 7,784 | 1,208 | ||||
Total net revenues | 3,246,263 | 510,722 | 2,195 | 3,759,180 | 583,416 | ||||
Cost and expenses (iii): | |||||||||
Cost of revenues | (1,884,931) | (269,376) | (29,030) | (2,183,337) | (338,849) | ||||
Research and development | (194,475) | (66,464) | - | (260,939) | (40,497) | ||||
Sales and marketing | (336,691) | (341,636) | (2,569) | (680,896) | (105,673) | ||||
General and administrative | (171,609) | (16,321) | (6,804) | (194,734) | (30,222) | ||||
Total cost and expenses | (2,587,706) | (693,797) | (38,403) | (3,319,906) | (515,241) | ||||
Other operating income | 17,946 | 3,270 | 5 | 21,221 | 3,293 | ||||
Income (loss) from operations | 676,503 | (179,805) | (36,203) | 460,495 | 71,468 | ||||
Interest income | 93,174 | 356 | 34 | 93,564 | 14,521 | ||||
Interest expense | (18,669) | - | - | (18,669) | (2,897) | ||||
Income (loss) before income tax and share of income on equity method investments | 751,008 | (179,449) | (36,169) | 535,390 | 83,092 | ||||
Income tax (expenses) benefits | (143,562) | 404 | - | (143,158) | (22,218) | ||||
Income (loss) before share of income on equity methodinvestments | 607,446 | (179,045) | (36,169) | 392,232 | 60,874 | ||||
Share of income on equity method investments | 3,658 | - | - | 3,658 | 568 | ||||
Net income (loss) | 611,104 | (179,045) | (36,169) | 395,890 | 61,442 | ||||
(iii) Share-based compensation was allocated in cost of revenues and operating expenses as follows: | |||||||||
Three months | |||||||||
Ended September 30, 2021 | |||||||||
Momo | Tantan | QOOL | Total | Total | |||||
RMB | RMB | RMB | RMB | US$ | |||||
Cost of revenues | 2,847 | 3,776 | - | 6,623 | 1,028 | ||||
Research and development | 18,071 | 11,023 | - | 29,094 | 4,515 | ||||
Sales and marketing | 11,280 | 16,373 | - | 27,653 | 4,292 | ||||
General and administrative | 77,616 | 2,294 | - | 79,910 | 12,402 | ||||
Total cost and expenses | 109,814 | 33,466 | - | 143,280 | 22,237 | ||||
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 September 30, 2021 | |||||||||
Momo | Tantan | QOOL | Total | Total | |||||
RMB | RMB | RMB | RMB | US$ | |||||
Income (loss) from operations | 676,503 | (179,805) | (36,203) | 460,495 | 71,468 | ||||
Share-based compensation | 109,814 | 33,466 | - | 143,280 | 22,237 | ||||
Amortization of intangible assets from business acquisitions | - | 33,451 | - | 33,451 | 5,192 | ||||
Non-GAAP income (loss) from operations | 786,317 | (112,888) | (36,203) | 637,226 | 98,897 | ||||
Net income (loss) | 611,104 | (179,045) | (36,169) | 395,890 | 61,442 | ||||
Share-based compensation | 109,814 | 33,466 | - | 143,280 | 22,237 | ||||
Amortization of intangible assets from business acquisitions | - | 33,451 | - | 33,451 | 5,192 | ||||
Tax impacts | - | (8,363) | - | (8,363) | (1,298) | ||||
Non-GAAP net income (loss) | 720,918 | (120,491) | (36,169) | 564,258 | 87,573 | ||||
Hello Group Inc. | |||||||||
Unaudited Condensed Segment Report | |||||||||
(All amounts in thousands, except share and per share data) | |||||||||
Three months | |||||||||
Ended September 30, 2020 | |||||||||
Momo | Tantan | QOOL | Total | Total | |||||
RMB | RMB | RMB | RMB | US$[1] | |||||
Net revenues: | |||||||||
Live video service | 1,978,098 | 396,726 | - | 2,374,824 | 349,774 | ||||
Value-added service | 998,668 | 332,171 | - | 1,330,839 | 196,012 | ||||
Mobile marketing | 50,415 | - | - | 50,415 | 7,425 | ||||
Mobile games | 7,975 | - | - | 7,975 | 1,175 | ||||
Other services | 1,810 | - | 788 | 2,598 | 382 | ||||
Total net revenues | 3,036,966 | 728,897 | 788 | 3,766,651 | 554,768 | ||||
Cost and expenses (iv): | |||||||||
Cost of revenues | (1,660,806) | (358,743) | (1,230) | (2,020,779) | (297,629) | ||||
Research and development | (214,597) | (84,624) | - | (299,221) | (44,070) | ||||
Sales and marketing | (361,448) | (393,437) | (7) | (754,892) | (111,184) | ||||
General and administrative | (164,331) | (13,620) | (5,698) | (183,649) | (27,049) | ||||
Total cost and expenses | (2,401,182) | (850,424) | (6,935) | (3,258,541) | (479,932) | ||||
Other operating income | 22,893 | - | 51 | 22,944 | 3,379 | ||||
Income (loss) from operations | 658,677 | (121,527) | (6,096) | 531,054 | 78,215 | ||||
Interest income | 103,477 | 706 | 49 | 104,232 | 15,352 | ||||
Interest expense | (19,885) | - | - | (19,885) | (2,929) | ||||
Income (loss) before income tax and share of income on equity method investments | 742,269 | (120,821) | (6,047) | 615,401 | 90,638 | ||||
Income tax (expenses) benefits | (150,278) | 6,663 | - | (143,615) | (21,152) | ||||
Income (loss) before share of income on equity method investments | 591,991 | (114,158) | (6,047) | 471,786 | 69,486 | ||||
Share of loss on equity method investments | (15,763) | - | - | (15,763) | (2,322) | ||||
Net income (loss) | 576,228 | (114,158) | (6,047) | 456,023 | 67,164 | ||||
(iv) Share-based compensation was allocated in cost of revenues and operating expenses as follows: | |||||||||
Three months | |||||||||
Ended September 30, 2020 | |||||||||
Momo | Tantan | QOOL | Total | Total | |||||
RMB | RMB | RMB | RMB | US$ | |||||
Cost of revenues | 3,338 | 1,096 | - | 4,434 | 653 | ||||
Research and development | 32,296 | 12,314 | - | 44,610 | 6,570 | ||||
Sales and marketing | 37,110 | 4,473 | - | 41,583 | 6,125 | ||||
General and administrative | 74,416 | 837 | 2,595 | 77,848 | 11,466 | ||||
Total cost and expenses | 147,160 | 18,720 | 2,595 | 168,475 | 24,814 | ||||
[1] All translations from RMB to U.S. dollars are made at a rate of RMB6.7896 to US$1.00, the effective noon buying rate for September 30, 2020 as set forth in the H.10 statistical release of the Federal Reserve Board. | |||||||||
Hello Group Inc. | |||||||||
Reconciliation of GAAP and NON-GAAP Results of Unaudited Segment Report | |||||||||
(All amounts in thousands, except share and per share data) | |||||||||
Three months | |||||||||
Ended September 30, 2020 | |||||||||
Momo | Tantan | QOOL | Total | Total | |||||
RMB | RMB | RMB | RMB | US$ | |||||
Income (loss) from operations | 658,677 | (121,527) | (6,096) | 531,054 | 78,215 | ||||
Share-based compensation | 147,160 | 18,720 | 2,595 | 168,475 | 24,814 | ||||
Amortization of intangible assets from businessacquisitions | - | 38,093 | - | 38,093 | 5,611 | ||||
Non-GAAP income (loss) from operations | 805,837 | (64,714) | (3,501) | 737,622 | 108,640 | ||||
Net income (loss) | 576,228 | (114,158) | (6,047) | 456,023 | 67,164 | ||||
Share-based compensation | 147,160 | 18,720 | 2,595 | 168,475 | 24,814 | ||||
Amortization of intangible assets from business acquisitions | - | 38,093 | - | 38,093 | 5,611 | ||||
Tax impacts | - | (9,523) | - | (9,523) | (1,403) | ||||
Non-GAAP net income (loss) | 723,388 | (66,868) | (3,452) | 653,068 | 96,186 | ||||
Hello Group Inc. | |||||||||
Unaudited Condensed Segment Report | |||||||||
(All amounts in thousands, except share and per share data) | |||||||||
First nine months | |||||||||
Ended September 30, 2021 | |||||||||
Momo | Tantan | QOOL | Total | Total | |||||
RMB | RMB | RMB | RMB | US$ | |||||
Net revenues: | |||||||||
Live video service | 5,527,851 | 702,309 | - | 6,230,160 | 966,906 | ||||
Value-added service | 3,606,393 | 889,666 | - | 4,496,059 | 697,777 | ||||
Mobile marketing | 133,641 | - | - | 133,641 | 20,741 | ||||
Mobile games | 28,418 | - | - | 28,418 | 4,410 | ||||
Other services | 9,263 | - | 3,949 | 13,212 | 2,051 | ||||
Total net revenues | 9,305,566 | 1,591,975 | 3,949 | 10,901,490 | 1,691,885 | ||||
Cost and expenses (v): | |||||||||
Cost of revenues | (5,338,330) | (816,562) | (37,019) | (6,191,911) | (960,970) | ||||
Research and development | (595,176) | (220,581) | - | (815,757) | (126,604) | ||||
Sales and marketing | (1,042,458) | (898,612) | (3,635) | (1,944,705) | (301,813) | ||||
General and administrative | (471,965) | 28,763 | (16,241) | (459,443) | (71,304) | ||||
Total cost and expenses | (7,447,929) | (1,906,992) | (56,895) | (9,411,816) | (1,460,691) | ||||
Other operating income | 103,352 | 34,006 | 31 | 137,389 | 21,322 | ||||
Income (loss) from operations | 1,960,989 | (281,011) | (52,915) | 1,627,063 | 252,516 | ||||
Interest income | 283,629 | 952 | 125 | 284,706 | 44,186 | ||||
Interest expense | (55,332) | - | - | (55,332) | (8,587) | ||||
Other gain or loss, net | (18,000) | - | - | (18,000) | (2,794) | ||||
Income (loss) before income tax and share of income on equity method investments | 2,171,286 | (280,059) | (52,790) | 1,838,437 | 285,321 | ||||
Income tax (expenses) benefits | (533,508) | 7,443 | - | (526,065) | (81,644) | ||||
Income (loss) before share of income on equity methodinvestments | 1,637,778 | (272,616) | (52,790) | 1,312,372 | 203,677 | ||||
Share of income on equity method investments | 5,961 | - | - | 5,961 | 925 | ||||
Net income (loss) | 1,643,739 | (272,616) | (52,790) | 1,318,333 | 204,602 | ||||
(v) Share-based compensation was allocated in cost of revenues and operating expenses as follows: | |||||||||
First nine months | |||||||||
Ended September 30, 2021 | |||||||||
Momo | Tantan | QOOL | Total | Total | |||||
RMB | RMB | RMB | RMB | US$ | |||||
Cost of revenues | 7,812 | 6,736 | - | 14,548 | 2,258 | ||||
Research and development | 78,259 | 25,009 | - | 103,268 | 16,027 | ||||
Sales and marketing | 37,157 | 22,640 | - | 59,797 | 9,280 | ||||
General and administrative | 238,408 | (66,826) | - | 171,582 | 26,629 | ||||
Total cost and expenses | 361,636 | (12,441) | - | 349,195 | 54,194 | ||||
Hello Group Inc. | |||||||||
Reconciliation of GAAP and NON-GAAP Results of Unaudited Segment Report | |||||||||
(All amounts in thousands, except share and per share data) | |||||||||
First nine months | |||||||||
Ended September 30, 2021 | |||||||||
Momo | Tantan | QOOL | Total | Total | |||||
RMB | RMB | RMB | RMB | US$ | |||||
Operating income (loss) | 1,960,989 | (281,011) | (52,915) | 1,627,063 | 252,516 | ||||
Share-based compensation | 361,636 | (12,441) | - | 349,195 | 54,194 | ||||
Amortization of intangible assets frombusiness acquisitions | - | 104,004 | - | 104,004 | 16,141 | ||||
Non-GAAP operating income (loss) | 2,322,625 | (189,448) | (52,915) | 2,080,262 | 322,851 | ||||
Net income (loss) | 1,643,739 | (272,616) | (52,790) | 1,318,333 | 204,602 | ||||
Share-based compensation | 361,636 | (12,441) | - | 349,195 | 54,194 | ||||
Amortization of intangible assets frombusiness acquisitions | - | 104,004 | - | 104,004 | 16,141 | ||||
Tax impacts | - | (26,002) | - | (26,002) | (4,035) | ||||
Non-GAAP net income (loss) | 2,005,375 | (207,055) | (52,790) | 1,745,530 | 270,902 | ||||
Hello Group Inc. | |||||||||
Unaudited Condensed Segment Report | |||||||||
(All amounts in thousands, except share and per share data) | |||||||||
First nine months | |||||||||
Ended September 30, 2020 | |||||||||
Momo | Tantan | QOOL | Total | Total | |||||
RMB | RMB | RMB | RMB | US$ | |||||
Net revenues: | |||||||||
Live video service | 6,715,266 | 594,438 | - | 7,309,704 | 1,076,603 | ||||
Value-added service | 2,677,575 | 1,033,338 | - | 3,710,913 | 546,559 | ||||
Mobile marketing | 145,534 | - | - | 145,534 | 21,435 | ||||
Mobile games | 32,230 | - | - | 32,230 | 4,747 | ||||
Other services | 9,168 | - | 21,438 | 30,606 | 4,507 | ||||
Total net revenues | 9,579,773 | 1,627,776 | 21,438 | 11,228,987 | 1,653,851 | ||||
Cost and expenses (vi): | |||||||||
Cost of revenues | (5,189,765) | (723,466) | (20,769) | (5,934,000) | (873,984) | ||||
Research and development | (601,271) | (239,111) | - | (840,382) | (123,775) | ||||
Sales and marketing | (1,093,008) | (1,023,151) | (41) | (2,116,200) | (311,683) | ||||
General and administrative | (461,627) | (61,128) | (18,204) | (540,959) | (79,675) | ||||
Total cost and expenses | (7,345,671) | (2,046,856) | (39,014) | (9,431,541) | (1,389,117) | ||||
Other operating income | 140,202 | - | 190 | 140,392 | 20,678 | ||||
Income (loss) from operations | 2,374,304 | (419,080) | (17,386) | 1,937,838 | 285,412 | ||||
Interest income | 340,531 | 2,867 | 193 | 343,591 | 50,605 | ||||
Interest expense | (59,825) | - | - | (59,825) | (8,811) | ||||
Other gain or loss, net | (6,000) | - | - | (6,000) | (884) | ||||
Income (loss) before income tax and share of income on equity method investments | 2,649,010 | (416,213) | (17,193) | 2,215,604 | 326,322 | ||||
Income tax (expenses) benefits | (762,768) | 12,629 | - | (750,139) | (110,484) | ||||
Income (loss) before share of income on equity method investments | 1,886,242 | (403,584) | (17,193) | 1,465,465 | 215,838 | ||||
Share of loss on equity method investments | (16,203) | - | - | (16,203) | (2,386) | ||||
Net income (loss) | 1,870,039 | (403,584) | (17,193) | 1,449,262 | 213,452 | ||||
(vi) Share-based compensation was allocated in cost of revenues and operating expenses as follows: | |||||||||
First nine months | |||||||||
Ended September 30, 2020 | |||||||||
Momo | Tantan | QOOL | Total | Total | |||||
RMB | RMB | RMB | RMB | US$ | |||||
Cost of revenues | 12,345 | 1,862 | - | 14,207 | 2,092 | ||||
Research and development | 95,768 | 41,587 | - | 137,355 | 20,231 | ||||
Sales and marketing | 121,456 | 10,324 | - | 131,780 | 19,409 | ||||
General and administrative | 207,650 | 22,238 | 7,872 | 237,760 | 35,019 | ||||
Total cost and expenses | 437,219 | 76,011 | 7,872 | 521,102 | 76,751 | ||||
Hello Group Inc. | |||||||||
Reconciliation of GAAP and NON-GAAP Results of Unaudited Segment Report | |||||||||
(All amounts in thousands, except share and per share data) | |||||||||
First nine months | |||||||||
Ended September 30, 2020 | |||||||||
Momo | Tantan | QOOL | Total | Total | |||||
RMB | RMB | RMB | RMB | US$ | |||||
Operating income (loss) | 2,374,304 | (419,080) | (17,386) | 1,937,838 | 285,412 | ||||
Share-based compensation | 437,219 | 76,011 | 7,872 | 521,102 | 76,751 | ||||
Amortization of intangible assets from business acquisitions | - | 115,577 | - | 115,577 | 17,023 | ||||
Non-GAAP operating income (loss) | 2,811,523 | (227,492) | (9,514) | 2,574,517 | 379,186 | ||||
Net income (loss) | 1,870,039 | (403,584) | (17,193) | 1,449,262 | 213,452 | ||||
Share-based compensation | 437,219 | 76,011 | 7,872 | 521,102 | 76,751 | ||||
Amortization of intangible assets from business acquisitions | - | 115,577 | - | 115,577 | 17,023 | ||||
Tax impacts | - | (28,894) | - | (28,894) | (4,255) | ||||
Non-GAAP net income (loss) | 2,307,258 | (240,890) | (9,321) | 2,057,047 | 302,971 | ||||
View original content:https://www.prnewswire.com/news-releases/hello-group-inc-announces-unaudited-financial-results-for-the-third-quarter-of-2021-301433585.html
SOURCE Hello Group Inc.
