BEIJING, Aug. 26, 2021 /PRNewswire/ -- Hello Group Inc. (NASDAQ: MOMO) (the "Company"), a leading mobile social and entertainment platform in China, today announced its unaudited financial results for the second quarter of 2021.
Second Quarter of 2021 Highlights
First Half of 2021 Highlights
"The second quarter of 2021 was a solid quarter with decent financial results and progress on all of our strategic priorities." commented Li Wang, CEO of Hello Group. "The fundamentals of the core Momo as a social platform continued to strengthen. At the same time revenue performance and structure showed solid improvements. The healthy and productive core business gives us important leverage to plow new grounds and build longer term drivers for the group."
* 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 RMB6.4566 to US$1.00, the effective noon buying rate for June 30, 2021 as set forth in the H.10 statistical release of the Federal Reserve Board. |
Second Quarter of 2021 Financial Results
Net revenues
Total net revenues were RMB3,671.7 million (US$568.7 million) in the second quarter of 2021, a decrease of 5.1% from RMB3,868.3 million in the second quarter of 2020.
Live video service revenues were RMB2,101.3 million (US$325.5 million) in the second quarter of 2021, a decrease of 19.3% from RMB2,602.9 million during the same period of 2020. The decrease was primarily due to our structural reform on the Company's core live video business, which was used to revive the long tail content ecosystem. The decrease was partially offset by the growth from Tantan's live video service revenues, which were RMB216.5 million (US$33.5 million) in the second quarter of 2021, compared to RMB191.7 million in the same period of 2020.
Value-added service revenues mainly include virtual gift revenues and membership subscription revenues. Total value-added service revenues were RMB1,507.3 million (US$233.4 million) in the second quarter of 2021, an increase of 25.2% from RMB1,204.3 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 more innovative products and operational ideas launched, and more paying scenarios introduced to enhance the social entertainment experience of Momo users, and to a lesser extent, the increase in the virtual gift revenues of new applications. The increase was partially offset by the decrease in the membership subscription revenues of Tantan, due to the decrease of paying users of Tantan.
Mobile marketing revenues were RMB51.6 million (US$8.0 million) in the second quarter of 2021, an increase of 35.9% from RMB38.0 million during the same period of 2020. The increase in mobile marketing revenues was primarily caused by the increased demand from brand marketers.
Mobile games revenues were RMB9.2 million (US$1.4 million) in the second quarter of 2021, a decrease of 20.6% from RMB11.6 million in the second quarter of 2020. The decrease in mobile game revenues was mainly due to the continued decrease in quarterly paying users of mobile games.
Net revenues from the Momo segment decreased from RMB3,340.7 million in the second quarter of 2020 to RMB3,157.5 million (US$489.0 million) in the second quarter of 2021, primarily due to the decrease in net revenues from live video service, partially offset by the increase in net revenues from value-added service. Net revenues from the Tantan segment decreased from RMB517.2 million in the second quarter of 2020 to RMB513.5 million (US$79.5 million) in the second quarter of 2021, which was mainly due to the decrease in the membership subscription revenues.
Cost and expenses
Cost and expenses were RMB3,075.6 million (US$476.4 million) in the second quarter of 2021, a decrease of 2.3% from RMB3,146.9 million in the second quarter of 2020. The decrease was primarily attributable to: (a) a decrease in share-based compensation expenses due to the fair value remeasurement of liability classified options granted to Tantan's founders; (b) a decrease in infrastructure-related spending, such as server depreciation costs; (c) a decrease in commission fees paid to payment channels. These decreases were partially offset by an increase in revenue sharing with virtual gift recipients for our virtual gift service, an increase in revenue sharing with broadcasters related to Tantan's live video service, and an increase in marketing and promotional expenses to promote our core live video services.
Non-GAAP cost and expenses (note 1) were RMB2,980.1 million (US$461.6 million) in the second quarter of 2021, an increase of 1.9% from RMB2,923.7 million during the same period of 2020.
Other operating income
Other operating income was RMB90.3 million (US$14.0 million) in the second quarter of 2021, a decrease from RMB91.3 million during the second quarter of 2020. The other operating income mainly consisted of government incentives.
Income from operations
Income from operations was RMB686.3 million (US$106.3 million) in the second quarter of 2021, compared to RMB812.7 million during the same period of 2020. Income from operations of the Momo segment was RMB711.3 million (US$110.2 million) in the second quarter of 2021, which decreased from RMB945.3 million in the second quarter of 2020. Loss from operations of the Tantan segment was RMB11.9 million (US$1.8 million) in the second quarter of 2021, compared to loss from operations of RMB125.6 million in the second quarter of 2020.
Non-GAAP income from operations (note 1) was RMB781.9 million (US$121.1 million) in the second quarter of 2021, compared to RMB1,035.8 million during the same period of 2020. Non-GAAP income from operations of the Momo segment was RMB835.8 million (US$129.5 million) in the second quarter of 2021, which decreased from RMB1,102.6 million in the second quarter of 2020. Non-GAAP loss from operations of the Tantan segment was RMB40.9 million (US$6.3 million) in the second quarter of 2021, compared to non-GAAP loss from operations of RMB62.4 million in the second quarter of 2020.
Income tax expenses
Income tax expenses were RMB291.5 million (US$45.1 million) in the second quarter of 2021, decreasing from RMB443.6 million in the second quarter of 2020. The decrease in income tax expenses was mainly due to (a) the lower profit in the second quarter of 2021; and (b) less payment of withholding income tax on dividends distributed by our wholly-foreign owned enterprise ("WFOE") in China to our offshore entity in the second quarter of 2021. The dividends of RMB1,300.0 million (US$201.3 million) and withholding income tax of RMB130.0 million (US$20.1 million) were paid in the second quarter of 2021.
Net income
Net income was RMB461.5 million (US$71.5 million) in the second quarter of 2021, compared to RMB455.5 million during the same period of 2020. Net income from the Momo segment was RMB481.3 million (US$74.5 million) in the second quarter of 2021, which decreased from RMB586.7 million in the second quarter of 2020. Net loss from the Tantan segment was RMB6.7 million (US$1.0 million) in the second quarter of 2021, compared to net loss of RMB124.3 million in the second quarter of 2020.
Non-GAAP net income (note 1) was RMB548.3 million (US$84.9 million) in the second quarter of 2021, compared to RMB668.9 million during the same period of 2020. Non-GAAP net income from the Momo segment was RMB605.8 million (US$93.8 million) in the second quarter of 2021, which decreased from RMB744.0 million in the second quarter of 2020. Non-GAAP net loss of the Tantan segment was RMB44.5 million (US$6.9 million) in the second quarter of 2021, compared to non-GAAP net loss of RMB70.8 million in the second quarter of 2020.
Net income attributable to Hello Group Inc.
Net income attributable to Hello Group Inc. was RMB464.2 million (US$71.9 million) in the second quarter of 2021, compared to RMB456.4 million during the same period of 2020.
Non-GAAP net income (note 1) attributable to Hello Group Inc. was RMB551.0 million (US$85.3 million) in the second quarter of 2021, compared to RMB669.8 million during the same period of 2020.
Net income per ADS
Diluted net income per ADS was RMB2.15 (US$0.33) in the second quarter of 2021, compared to RMB2.11 in the second quarter of 2020.
Non-GAAP diluted net income per ADS (note 1) was RMB2.54 (US$0.39) in the second quarter of 2021, compared to RMB3.05 in the second quarter of 2020.
Cash and cash flow
As of June 30, 2021, the Company's cash, cash equivalents, short-term deposits, long-term deposits, short-term restricted cash and long-term restricted cash totaled RMB15,450.0 million (US$2,392.9 million), compared to RMB16,482.3 million as of December 31, 2020. Net cash used in operating activities in the second quarter of 2021 was RMB167.8 million (US$26.0 million), compared to a net cash provided by operating activities of RMB807.3 million in the second quarter of 2020. The decrease in net cash provided by operating activities was mainly due to the cash payment of RMB678.2 million (US$105.0 million) we made to Tantan's founders to settle the previously granted liability-classified share options upon their termination of services with Tantan in the second quarter of 2021.
First Half of 2021 Financial Results
Net revenues for the first half of 2021 were RMB7,142.3 million (US$1,106.2 million), a decrease of 4.3% from RMB7,462.3 million in the same period of 2020.
Net income attributable to Hello Group Inc. was RMB925.8 million (US$143.4 million) for the first half of 2021, compared to RMB995.3 million during the same period of 2020.
Non-GAAP net income attributable to Hello Group Inc. (note 1) was RMB1,184.6 million (US$183.5 million) for the first half of 2021, compared to RMB1,406.0 million during the same period of 2020.
Diluted net income per ADS was RMB4.29 (US$0.66) during the first half of 2021, compared to RMB4.57 in the same period of 2020.
Non-GAAP diluted net income per ADS (note 1) was RMB5.45 (US$0.84) during the first half of 2021, compared to RMB6.39 in the same period of 2020.
Net cash provided by operating activities was RMB333.8 million (US$51.7 million) during the first half of 2021, compared to RMB1,350.7 million in the same period of 2020.
Recent Developments
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 August 26, 2021, the Company has repurchased 13.46 million ADSs for US$173.4 million on the open market under this program, at an average purchase price of US$12.87 per ADS.
Business Outlook
For the third quarter of 2021, the Company expects total net revenues to be between RMB3.65 billion to RMB3.75 billion, representing a decrease of 3.1% to 0.4% 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 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 a significant recurring expense in our results of operations. We compensate for these limitations 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 Thursday, August 26, 2021, at 8:00 a.m. U.S. Eastern Time (8:00 p.m. Beijing / Hong Kong Time on August 26, 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 LINK http://apac.directeventreg.com/registration/event/5771017
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 9:00 a.m. U.S. Eastern Time, September 3, 2021. The dial-in details for the replay are as follows:
International: +61-2-8199-0299
U.S. Toll Free: +1-855-452-5696
Passcode: 5771017
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: +86-10-5731-0538
Email: ir@immomo.com
Christensen
In China
Mr. Eric Yuan
Phone: +86-10-5900-1548
E-mail: Eyuan@christensenir.com
In US
Ms. Linda Bergkamp
Phone: +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 third 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 second quarter of 2021 are preliminary, unaudited and subject to audit adjustment. In addition, we may not meet our financial outlook for the third 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 half year |
||||||||||
Ended June 30 |
Ended June 30 |
||||||||||
2020 |
2021 |
2021 |
2020 |
2021 |
2021 |
||||||
RMB |
RMB |
US$ |
RMB |
RMB |
US$ |
||||||
Net revenues: |
|||||||||||
Live video service |
2,602,876 |
2,101,332 |
325,455 |
4,934,880 |
4,063,427 |
629,345 |
|||||
Value-added service |
1,204,320 |
1,507,258 |
233,445 |
2,380,074 |
2,962,771 |
458,875 |
|||||
Mobile marketing |
37,964 |
51,601 |
7,992 |
95,119 |
90,318 |
13,988 |
|||||
Mobile games |
11,564 |
9,182 |
1,422 |
24,255 |
20,366 |
3,154 |
|||||
Other services |
11,528 |
2,341 |
362 |
28,008 |
5,428 |
841 |
|||||
Total net revenues |
3,868,252 |
3,671,714 |
568,676 |
7,462,336 |
7,142,310 |
1,106,203 |
|||||
Cost and expenses: |
|||||||||||
Cost of revenues |
(2,036,305) |
(2,070,329) |
(320,653) |
(3,913,221) |
(4,008,574) |
(620,849) |
|||||
Research and development |
(279,002) |
(268,325) |
(41,558) |
(541,161) |
(554,818) |
(85,930) |
|||||
Sales and marketing |
(651,500) |
(650,236) |
(100,709) |
(1,361,308) |
(1,263,809) |
(195,739) |
|||||
General and administrative |
(180,061) |
(86,747) |
(13,435) |
(357,310) |
(264,709) |
(40,998) |
|||||
Total cost and expenses |
(3,146,868) |
(3,075,637) |
(476,355) |
(6,173,000) |
(6,091,910) |
(943,516) |
|||||
Other operating income |
91,329 |
90,268 |
13,981 |
117,448 |
116,168 |
17,992 |
|||||
Income from operations |
812,713 |
686,345 |
106,302 |
1,406,784 |
1,166,568 |
180,679 |
|||||
Interest income |
108,536 |
94,448 |
14,628 |
239,359 |
191,142 |
29,604 |
|||||
Interest expense |
(20,121) |
(18,302) |
(2,835) |
(39,940) |
(36,663) |
(5,678) |
|||||
Other gain or loss, net |
- |
(10,500) |
(1,626) |
(6,000) |
(18,000) |
(2,788) |
|||||
Income before income tax |
901,128 |
751,991 |
116,469 |
1,600,203 |
1,303,047 |
201,817 |
|||||
Income tax expenses |
(443,633) |
(291,509) |
(45,149) |
(606,524) |
(382,907) |
(59,305) |
|||||
Income before share of |
457,495 |
460,482 |
71,320 |
993,679 |
920,140 |
142,512 |
|||||
Share of (loss) income on |
(1,967) |
1,042 |
161 |
(440) |
2,303 |
357 |
|||||
Net income |
455,528 |
461,524 |
71,481 |
993,239 |
922,443 |
142,869 |
|||||
Less: net loss attributable to non-controlling interest |
(872) |
(2,636) |
(408) |
(2,067) |
(3,376) |
(523) |
|||||
Net income attributable to |
456,400 |
464,160 |
71,889 |
995,306 |
925,819 |
143,392 |
|||||
Net income per share |
|||||||||||
Basic |
1.09 |
1.13 |
0.17 |
2.38 |
2.25 |
0.35 |
|||||
Diluted |
1.05 |
1.07 |
0.17 |
2.29 |
2.15 |
0.33 |
|||||
Weighted average shares |
|||||||||||
Basic |
417,559,984 |
411,540,714 |
411,540,714 |
417,427,113 |
411,753,583 |
411,753,583 |
|||||
Diluted |
452,500,168 |
449,020,572 |
449,020,572 |
452,915,745 |
448,597,242 |
448,597,242 |
Hello Group Inc. |
|||||||||||
Unaudited Condensed Consolidated Statement of Comprehensive Income |
|||||||||||
(All amounts in thousands, except share and per share data) |
|||||||||||
Three months |
First half year |
||||||||||
Ended June 30 |
Ended June 30 |
||||||||||
2020 |
2021 |
2021 |
2020 |
2021 |
2021 |
||||||
RMB |
RMB |
US$ |
RMB |
RMB |
US$ |
||||||
Net income |
455,528 |
461,524 |
71,481 |
993,239 |
922,443 |
142,869 |
|||||
Other comprehensive income |
|||||||||||
Foreign currency translation |
8,818 |
(28,396) |
(4,398) |
7,951 |
(32,198) |
(4,987) |
|||||
Comprehensive income |
464,346 |
433,128 |
67,083 |
1,001,190 |
890,245 |
137,882 |
|||||
Less: comprehensive loss |
(1,423) |
(6,162) |
(954) |
(6,992) |
(5,783) |
(896) |
|||||
Comprehensive income |
465,769 |
439,290 |
68,037 |
1,008,182 |
896,028 |
138,778 |
Hello Group Inc. |
|||||
Unaudited Condensed Consolidated Balance Sheets |
|||||
(All amounts in thousands, except share and per share data) |
|||||
December 31 |
June 30 |
June 30 |
|||
2020 |
2021 |
2021 |
|||
RMB |
RMB |
US$ |
|||
Assets |
|||||
Current assets |
|||||
Cash and cash equivalents |
3,363,942 |
2,204,455 |
341,427 |
||
Short-term deposits |
7,566,250 |
7,365,886 |
1,140,830 |
||
Restricted cash |
2,130 |
2,133 |
330 |
||
Accounts receivable, net of allowance for doubtful accounts of |
200,831 |
217,063 |
33,619 |
||
Prepaid expenses and other current assets |
613,696 |
733,792 |
113,650 |
||
Total current assets |
11,746,849 |
10,523,329 |
1,629,856 |
||
Long-term deposits |
5,550,000 |
5,800,000 |
898,306 |
||
Long-term restricted cash |
- |
77,479 |
12,000 |
||
Right-of-use assets, net |
278,175 |
223,901 |
34,678 |
||
Property and equipment, net |
265,765 |
224,964 |
34,842 |
||
Intangible assets, net |
687,211 |
607,411 |
94,076 |
||
Rental deposits |
21,794 |
22,386 |
3,467 |
||
Long-term investments |
454,996 |
733,689 |
113,634 |
||
Other non-current assets |
94,868 |
100,054 |
15,496 |
||
Deferred tax assets |
32,495 |
33,729 |
5,224 |
||
Goodwill |
4,088,403 |
4,045,777 |
626,611 |
||
Total assets |
23,220,556 |
22,392,719 |
3,468,190 |
||
Liabilities and equity |
|||||
Current liabilities |
|||||
Accounts payable |
699,394 |
752,474 |
116,545 |
||
Deferred revenue |
511,617 |
517,921 |
80,216 |
||
Accrued expenses and other current liabilities |
854,835 |
752,881 |
116,606 |
||
Amount due to related parties |
19,462 |
12,906 |
1,999 |
||
Lease liabilities due within one year |
132,793 |
129,044 |
19,986 |
||
Income tax payable |
236,490 |
140,111 |
21,700 |
||
Deferred consideration in connection with business acquisitions |
62,149 |
45,443 |
7,038 |
||
Total current liabilities |
2,516,740 |
2,350,780 |
364,090 |
||
Deferred tax liabilities |
171,803 |
151,853 |
23,519 |
||
Convertible senior notes |
4,658,966 |
4,617,465 |
715,154 |
||
Share-based compensation liability |
875,616 |
- |
- |
||
Lease liabilities |
136,436 |
99,858 |
15,466 |
||
Other non-current liabilities |
25,666 |
135,050 |
20,916 |
||
Total liabilities |
8,385,227 |
7,355,006 |
1,139,145 |
||
Shareholder's equity (i) |
14,835,329 |
15,037,713 |
2,329,045 |
||
Total liabilities and shareholder's equity |
23,220,556 |
22,392,719 |
3,468,190 |
||
(i): As of June 30, 2021, the number of ordinary shares outstanding was 411,632,190. |
Hello Group Inc. |
|||||||||||
Unaudited Condensed Consolidated Statement of Cash Flows |
|||||||||||
(All amounts in thousands, except share and per share data) |
|||||||||||
Three months |
First half year |
||||||||||
Ended June 30 |
Ended June 30 |
||||||||||
2020 |
2021 |
2021 |
2020 |
2021 |
2021 |
||||||
RMB |
RMB |
US$ |
RMB |
RMB |
US$ |
||||||
Cash flows from operating activities: |
|||||||||||
Net income |
455,528 |
461,524 |
71,481 |
993,239 |
922,443 |
142,869 |
|||||
Adjustments to reconcile net income to net cash |
|||||||||||
Depreciation of property and equipment |
52,210 |
40,072 |
6,206 |
104,591 |
82,615 |
12,795 |
|||||
Amortization of intangible assets |
40,288 |
36,108 |
5,592 |
80,170 |
73,061 |
11,316 |
|||||
Share-based compensation |
184,100 |
60,658 |
9,395 |
352,627 |
205,915 |
31,891 |
|||||
Share of loss (income) on equity method investments |
1,967 |
(1,042) |
(161) |
440 |
(2,303) |
(357) |
|||||
Loss on long-term investments |
- |
10,500 |
1,626 |
6,000 |
18,000 |
2,788 |
|||||
Gain on subsidiary deconsolidation |
- |
- |
- |
(6,676) |
- |
- |
|||||
Gain on disposal of subsidiaries |
- |
(15,526) |
(2,405) |
- |
(15,526) |
(2,405) |
|||||
Loss on disposal of property and equipment |
(1) |
(1,101) |
(171) |
(1) |
(1,079) |
(167) |
|||||
Provision of losses on receivable and other assets |
1,060 |
169 |
26 |
406 |
564 |
87 |
|||||
Cash received on investment income distribution |
- |
- |
- |
1,153 |
- |
- |
|||||
Changes in operating assets and liabilities: |
|||||||||||
Accounts receivable |
39,725 |
(15,162) |
(2,348) |
1,746 |
(22,742) |
(3,522) |
|||||
Prepaid expenses and other current assets |
42,671 |
(31,941) |
(4,947) |
43,833 |
(118,618) |
(18,372) |
|||||
Amount due from a related party |
230 |
- |
- |
2,353 |
- |
- |
|||||
Rental deposits |
363 |
(1,951) |
(302) |
190 |
(592) |
(92) |
|||||
Deferred tax assets |
435 |
(627) |
(97) |
2,473 |
(1,234) |
(191) |
|||||
Other non-current assets |
3,411 |
36,720 |
5,687 |
18,251 |
49,050 |
7,597 |
|||||
Accounts payable |
63,598 |
48,889 |
7,572 |
(16,475) |
47,822 |
7,407 |
|||||
Income tax payable |
44,712 |
(119,269) |
(18,472) |
65,056 |
(96,378) |
(14,927) |
|||||
Deferred revenue |
(12,249) |
16,464 |
2,550 |
(33,272) |
16,085 |
2,491 |
|||||
Accrued expenses and other current liabilities |
(59,987) |
23,189 |
3,592 |
(214,230) |
(95,783) |
(14,835) |
|||||
Amount due to related parties |
(16,217) |
600 |
93 |
(11,233) |
(6,556) |
(1,015) |
|||||
Deferred tax liability |
(10,072) |
(9,027) |
(1,398) |
(20,043) |
(18,265) |
(2,829) |
|||||
Share-based compensation liability |
- |
(678,153) |
(105,033) |
- |
(678,153) |
(105,033) |
|||||
Other non-current liabilities |
(24,522) |
(28,877) |
(4,472) |
(19,852) |
(24,517) |
(3,797) |
|||||
Net cash provided by (used in) operating activities |
807,250 |
(167,783) |
(25,986) |
1,350,746 |
333,809 |
51,699 |
|||||
Cash flows from investing activities: |
|||||||||||
Purchase of property and equipment |
(45,803) |
(20,020) |
(3,101) |
(83,970) |
(45,203) |
(7,001) |
|||||
Payment for long-term investments |
- |
(300,000) |
(46,464) |
(4,500) |
(300,000) |
(46,464) |
|||||
Purchase of short-term deposits |
(4,941,858) |
(1,566,688) |
(242,649) |
(8,241,858) |
(2,476,688) |
(383,590) |
|||||
Cash received on maturity of short-term deposits |
8,306,434 |
2,089,618 |
323,641 |
11,285,574 |
2,658,912 |
411,813 |
|||||
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 |
869 |
|||||
Cash of disposed subsidiaries |
- |
(8,750) |
(1,355) |
- |
(8,750) |
(1,355) |
|||||
Purchase of long-term deposits |
(2,800,000) |
(250,000) |
(38,720) |
(2,800,000) |
(250,000) |
(38,720) |
|||||
Other investing activities |
15 |
2,390 |
370 |
(776) |
2,393 |
371 |
|||||
Net cash provided by (used in) investing activities |
518,788 |
(53,450) |
(8,278) |
154,470 |
(413,726) |
(64,077) |
|||||
Cash flows from financing activities: |
|||||||||||
Deferred payment for business acquisition |
(18,355) |
- |
- |
(18,355) |
(12,907) |
(1,999) |
|||||
Proceeds from exercise of share options |
1 |
310 |
48 |
1 |
310 |
48 |
|||||
Repurchase of ordinary shares |
- |
(103,072) |
(15,964) |
- |
(106,151) |
(16,441) |
|||||
Repurchase of subsidiary's share options |
- |
(2,780) |
(431) |
- |
(5,561) |
(861) |
|||||
Dividends payment |
(1,123,983) |
(852,743) |
(132,073) |
(1,123,983) |
(852,743) |
(132,073) |
|||||
Net cash used in financing activities |
(1,142,337) |
(958,285) |
(148,420) |
(1,142,337) |
(977,052) |
(151,326) |
|||||
Effect of exchange rate changes |
(5,332) |
(28,952) |
(4,484) |
1,961 |
(25,036) |
(3,877) |
|||||
Net increase (decrease) in cash and cash equivalents |
178,369 |
(1,208,470) |
(187,168) |
364,840 |
(1,082,005) |
(167,581) |
|||||
Cash, cash equivalents and restricted cash at the beginning |
2,799,214 |
3,492,537 |
540,925 |
2,612,743 |
3,366,072 |
521,338 |
|||||
Cash, cash equivalents and restricted cash at the end of |
2,977,583 |
2,284,067 |
353,757 |
2,977,583 |
2,284,067 |
353,757 |
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 June 30, 2020 |
Ended June 30, 2021 |
Ended June 30, 2021 |
||||||||||||||||
GAAP |
Amortization |
Share- |
Tax |
Non- |
GAAP |
Amortization |
Share- |
Tax |
Non-GAAP |
GAAP |
Amortization |
Share- |
Tax |
Non-GAAP |
||||
(ii) |
(ii) |
(ii) |
||||||||||||||||
RMB |
RMB |
RMB |
RMB |
RMB |
RMB |
RMB |
RMB |
RMB |
RMB |
US$ |
US$ |
US$ |
US$ |
US$ |
||||
Cost of revenues |
(2,036,305) |
18,929 |
2,804 |
- |
(2,014,572) |
(2,070,329) |
17,256 |
4,201 |
- |
(2,048,872) |
(320,653) |
2,673 |
651 |
- |
(317,329) |
|||
Research and |
(279,002) |
2,404 |
49,985 |
- |
(226,613) |
(268,325) |
1,461 |
33,965 |
- |
(232,899) |
(41,558) |
226 |
5,261 |
- |
(36,071) |
|||
Sales and marketing |
(651,500) |
17,702 |
43,123 |
- |
(590,675) |
(650,236) |
16,137 |
14,588 |
- |
(619,511) |
(100,709) |
2,499 |
2,259 |
- |
(95,951) |
|||
General and |
(180,061) |
- |
88,188 |
- |
(91,873) |
(86,747) |
- |
7,904 |
- |
(78,843) |
(13,435) |
- |
1,224 |
- |
(12,211) |
|||
Cost and operating |
(3,146,868) |
39,035 |
184,100 |
- |
(2,923,733) |
(3,075,637) |
34,854 |
60,658 |
- |
(2,980,125) |
(476,355) |
5,398 |
9,395 |
- |
(461,562) |
|||
Income from operations |
812,713 |
39,035 |
184,100 |
- |
1,035,848 |
686,345 |
34,854 |
60,658 |
- |
781,857 |
106,302 |
5,398 |
9,395 |
- |
121,095 |
|||
Net income attributable to |
456,400 |
39,035 |
184,100 |
(9,759) |
669,776 |
464,160 |
34,854 |
60,658 |
(8,714) |
550,958 |
71,889 |
5,398 |
9,395 |
(1,351) |
85,331 |
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 half year |
First half year |
First half year |
||||||||||||||||
Ended June 30, 2020 |
Ended June 30, 2021 |
Ended June 30, 2021 |
||||||||||||||||
GAAP |
Amortization |
Share- |
Tax |
Non-GAAP |
GAAP |
Amortization |
Share- |
Tax |
Non-GAAP |
GAAP |
Amortization |
Share- |
Tax |
Non-GAAP |
||||
(ii) |
(ii) |
(ii) |
||||||||||||||||
RMB |
RMB |
RMB |
RMB |
RMB |
RMB |
RMB |
RMB |
RMB |
RMB |
US$ |
US$ |
US$ |
US$ |
US$ |
||||
Cost of revenues |
(3,913,221) |
37,574 |
9,773 |
- |
(3,865,874) |
(4,008,574) |
34,567 |
7,925 |
- |
(3,966,082) |
(620,849) |
5,354 |
1,227 |
- |
(614,268) |
|||
Research and |
(541,161) |
4,772 |
92,745 |
- |
(443,644) |
(554,818) |
3,660 |
74,174 |
- |
(476,984) |
(85,930) |
567 |
11,488 |
- |
(73,875) |
|||
Sales and marketing |
(1,361,308) |
35,138 |
90,197 |
- |
(1,235,973) |
(1,263,809) |
32,326 |
32,144 |
- |
(1,199,339) |
(195,739) |
5,007 |
4,978 |
- |
(185,754) |
|||
General and |
(357,310) |
- |
159,912 |
- |
(197,398) |
(264,709) |
- |
91,672 |
- |
(173,037) |
(40,998) |
- |
14,198 |
- |
(26,800) |
|||
Cost and operating |
(6,173,000) |
77,484 |
352,627 |
- |
(5,742,889) |
(6,091,910) |
70,553 |
205,915 |
- |
(5,815,442) |
(943,516) |
10,928 |
31,891 |
- |
(900,697) |
|||
Income from |
1,406,784 |
77,484 |
352,627 |
- |
1,836,895 |
1,166,568 |
70,553 |
205,915 |
- |
1,443,036 |
180,679 |
10,928 |
31,891 |
- |
223,498 |
|||
Net income attributable |
995,306 |
77,484 |
352,627 |
(19,371) |
1,406,046 |
925,819 |
70,553 |
205,915 |
(17,639) |
1,184,648 |
143,392 |
10,928 |
31,891 |
(2,732) |
183,479 |
|||
(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 June 30, 2021 |
|||||||||
Momo |
Tantan |
QOOL |
Total |
Total |
|||||
RMB |
RMB |
RMB |
RMB |
US$ |
|||||
Net revenues: |
|||||||||
Live video service |
1,884,821 |
216,511 |
- |
2,101,332 |
325,455 |
||||
Value-added service |
1,210,220 |
297,038 |
- |
1,507,258 |
233,445 |
||||
Mobile marketing |
51,601 |
- |
- |
51,601 |
7,992 |
||||
Mobile games |
9,182 |
- |
- |
9,182 |
1,422 |
||||
Other services |
1,706 |
- |
635 |
2,341 |
362 |
||||
Total net revenues |
3,157,530 |
513,549 |
635 |
3,671,714 |
568,676 |
||||
Cost and expenses (iii): |
|||||||||
Cost of revenues |
(1,796,504) |
(266,197) |
(7,628) |
(2,070,329) |
(320,653) |
||||
Research and development |
(195,371) |
(72,954) |
- |
(268,325) |
(41,558) |
||||
Sales and marketing |
(378,938) |
(270,266) |
(1,032) |
(650,236) |
(100,709) |
||||
General and administrative |
(140,905) |
59,205 |
(5,047) |
(86,747) |
(13,435) |
||||
Total cost and expenses |
(2,511,718) |
(550,212) |
(13,707) |
(3,075,637) |
(476,355) |
||||
Other operating income |
65,445 |
24,798 |
25 |
90,268 |
13,981 |
||||
Income (loss) from operations |
711,257 |
(11,865) |
(13,047) |
686,345 |
106,302 |
||||
Interest income |
94,112 |
291 |
45 |
94,448 |
14,628 |
||||
Interest expense |
(18,302) |
- |
- |
(18,302) |
(2,835) |
||||
Other gain or loss, net |
(10,500) |
- |
- |
(10,500) |
(1,626) |
||||
Income (loss) before income tax and |
776,567 |
(11,574) |
(13,002) |
751,991 |
116,469 |
||||
Income tax (expenses) benefits |
(296,344) |
4,835 |
- |
(291,509) |
(45,149) |
||||
Income (loss) before share of income |
480,223 |
(6,739) |
(13,002) |
460,482 |
71,320 |
||||
Share of income on equity method investments |
1,042 |
- |
- |
1,042 |
161 |
||||
Net income (loss) |
481,265 |
(6,739) |
(13,002) |
461,524 |
71,481 |
||||
(iii) Share-based compensation was allocated in cost of revenues and operating expenses as follows: |
|||||||||
Three months |
|||||||||
Ended June 30, 2021 |
|||||||||
Momo |
Tantan |
QOOL |
Total |
Total |
|||||
RMB |
RMB |
RMB |
RMB |
US$ |
|||||
Cost of revenues |
2,640 |
1,561 |
- |
4,201 |
651 |
||||
Research and development |
29,663 |
4,302 |
- |
33,965 |
5,261 |
||||
Sales and marketing |
12,971 |
1,617 |
- |
14,588 |
2,259 |
||||
General and administrative |
79,308 |
(71,404) |
- |
7,904 |
1,224 |
||||
Total cost and expenses |
124,582 |
(63,924) |
- |
60,658 |
9,395 |
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 June 30, 2021 |
|||||||||
Momo |
Tantan |
QOOL |
Total |
Total |
|||||
RMB |
RMB |
RMB |
RMB |
US$ |
|||||
Income (loss) from operations |
711,257 |
(11,865) |
(13,047) |
686,345 |
106,302 |
||||
Share-based compensation |
124,582 |
(63,924) |
- |
60,658 |
9,395 |
||||
Amortization of intangible assets from business |
- |
34,854 |
- |
34,854 |
5,398 |
||||
Non-GAAP income (loss) from operations |
835,839 |
(40,935) |
(13,047) |
781,857 |
121,095 |
||||
Net income (loss) |
481,265 |
(6,739) |
(13,002) |
461,524 |
71,481 |
||||
Share-based compensation |
124,582 |
(63,924) |
- |
60,658 |
9,395 |
||||
Amortization of intangible assets from business |
- |
34,854 |
- |
34,854 |
5,398 |
||||
Tax impacts |
- |
(8,714) |
- |
(8,714) |
(1,351) |
||||
Non-GAAP net income (loss) |
605,847 |
(44,523) |
(13,002) |
548,322 |
84,923 |
Hello Group Inc. |
|||||||||
Unaudited Condensed Segment Report |
|||||||||
(All amounts in thousands, except share and per share data) |
|||||||||
Three months |
|||||||||
Ended June 30, 2020 |
|||||||||
Momo |
Tantan |
QOOL |
Total |
Total |
|||||
RMB |
RMB |
RMB |
RMB |
US$[1] |
|||||
Net revenues: |
|||||||||
Live video service |
2,411,223 |
191,653 |
- |
2,602,876 |
368,413 |
||||
Value-added service |
878,804 |
325,516 |
- |
1,204,320 |
170,460 |
||||
Mobile marketing |
37,964 |
- |
- |
37,964 |
5,373 |
||||
Mobile games |
11,564 |
- |
- |
11,564 |
1,637 |
||||
Other services |
1,163 |
- |
10,365 |
11,528 |
1,633 |
||||
Total net revenues |
3,340,718 |
517,169 |
10,365 |
3,868,252 |
547,516 |
||||
Cost and expenses (iv): |
|||||||||
Cost of revenues |
(1,792,442) |
(232,445) |
(11,418) |
(2,036,305) |
(288,220) |
||||
Research and development |
(202,774) |
(76,228) |
- |
(279,002) |
(39,490) |
||||
Sales and marketing |
(337,196) |
(314,293) |
(11) |
(651,500) |
(92,214) |
||||
General and administrative |
(154,161) |
(19,828) |
(6,072) |
(180,061) |
(25,486) |
||||
Total cost and expenses |
(2,486,573) |
(642,794) |
(17,501) |
(3,146,868) |
(445,410) |
||||
Other operating income |
91,190 |
- |
139 |
91,329 |
12,927 |
||||
Income (loss) from operations |
945,335 |
(125,625) |
(6,997) |
812,713 |
115,033 |
||||
Interest income |
107,776 |
689 |
71 |
108,536 |
15,362 |
||||
Interest expense |
(20,121) |
- |
- |
(20,121) |
(2,848) |
||||
Income (loss) before income tax and |
1,032,990 |
(124,936) |
(6,926) |
901,128 |
127,547 |
||||
Income tax (expenses) benefits |
(444,278) |
645 |
- |
(443,633) |
(62,792) |
||||
Income (loss) before share of income |
588,712 |
(124,291) |
(6,926) |
457,495 |
64,755 |
||||
Share of loss on equity method |
(1,967) |
- |
- |
(1,967) |
(278) |
||||
Net income (loss) |
586,745 |
(124,291) |
(6,926) |
455,528 |
64,477 |
||||
(iv) Share-based compensation was allocated in cost of revenues and operating expenses as follows: |
|||||||||
Three months |
|||||||||
Ended June 30, 2020 |
|||||||||
Momo |
Tantan |
QOOL |
Total |
Total |
|||||
RMB |
RMB |
RMB |
RMB |
US$ |
|||||
Cost of revenues |
3,396 |
(592) |
- |
2,804 |
397 |
||||
Research and development |
36,670 |
13,315 |
- |
49,985 |
7,075 |
||||
Sales and marketing |
38,905 |
4,218 |
- |
43,123 |
6,104 |
||||
General and administrative |
78,250 |
7,280 |
2,658 |
88,188 |
12,482 |
||||
Total cost and expenses |
157,221 |
24,221 |
2,658 |
184,100 |
26,058 |
||||
[1] All translations from RMB to U.S. dollars are made at a rate of RMB7.0651 to US$1.00, the effective noon buying rate for June 30, 2020 a |
Hello Group Inc. |
|||||||||
Reconciliation of GAAP and NON-GAAP Results of Unaudited Segment Report |
|||||||||
(All amounts in thousands, except share and per share data) |
|||||||||
Three months |
|||||||||
Ended June 30, 2020 |
|||||||||
Momo |
Tantan |
QOOL |
Total |
Total |
|||||
RMB |
RMB |
RMB |
RMB |
US$ |
|||||
Income (loss) from operations |
945,335 |
(125,625) |
(6,997) |
812,713 |
115,033 |
||||
Share-based compensation |
157,221 |
24,221 |
2,658 |
184,100 |
26,058 |
||||
Amortization of intangible assets from |
- |
39,035 |
- |
39,035 |
5,525 |
||||
Non-GAAP income (loss) from operations |
1,102,556 |
(62,369) |
(4,339) |
1,035,848 |
146,616 |
||||
Net income (loss) |
586,745 |
(124,291) |
(6,926) |
455,528 |
64,477 |
||||
Share-based compensation |
157,221 |
24,221 |
2,658 |
184,100 |
26,058 |
||||
Amortization of intangible assets from |
- |
39,035 |
- |
39,035 |
5,525 |
||||
Tax impacts |
- |
(9,759) |
- |
(9,759) |
(1,381) |
||||
Non-GAAP net income (loss) |
743,966 |
(70,794) |
(4,268) |
668,904 |
94,679 |
Hello Group Inc. |
|||||||||
Unaudited Condensed Segment Report |
|||||||||
(All amounts in thousands, except share and per share data) |
|||||||||
First half year |
|||||||||
Ended June 30, 2021 |
|||||||||
Momo |
Tantan |
QOOL |
Total |
Total |
|||||
RMB |
RMB |
RMB |
RMB |
US$ |
|||||
Net revenues: |
|||||||||
Live video service |
3,595,710 |
467,717 |
- |
4,063,427 |
629,345 |
||||
Value-added service |
2,349,235 |
613,536 |
- |
2,962,771 |
458,875 |
||||
Mobile marketing |
90,318 |
- |
- |
90,318 |
13,988 |
||||
Mobile games |
20,366 |
- |
- |
20,366 |
3,154 |
||||
Other services |
3,674 |
- |
1,754 |
5,428 |
841 |
||||
Total net revenues |
6,059,303 |
1,081,253 |
1,754 |
7,142,310 |
1,106,203 |
||||
Cost and expenses (v): |
|||||||||
Cost of revenues |
(3,453,399) |
(547,186) |
(7,989) |
(4,008,574) |
(620,849) |
||||
Research and development |
(400,701) |
(154,117) |
- |
(554,818) |
(85,930) |
||||
Sales and marketing |
(705,767) |
(556,976) |
(1,066) |
(1,263,809) |
(195,739) |
||||
General and administrative |
(300,356) |
45,084 |
(9,437) |
(264,709) |
(40,998) |
||||
Total cost and expenses |
(4,860,223) |
(1,213,195) |
(18,492) |
(6,091,910) |
(943,516) |
||||
Other operating income |
85,406 |
30,736 |
26 |
116,168 |
17,992 |
||||
Income (loss) from operations |
1,284,486 |
(101,206) |
(16,712) |
1,166,568 |
180,679 |
||||
Interest income |
190,455 |
596 |
91 |
191,142 |
29,604 |
||||
Interest expense |
(36,663) |
- |
- |
(36,663) |
(5,678) |
||||
Other gain or loss, net |
(18,000) |
- |
- |
(18,000) |
(2,788) |
||||
Income (loss) before income tax and |
1,420,278 |
(100,610) |
(16,621) |
1,303,047 |
201,817 |
||||
Income tax (expenses) benefits |
(389,946) |
7,039 |
- |
(382,907) |
(59,305) |
||||
Income (loss) before share of income |
1,030,332 |
(93,571) |
(16,621) |
920,140 |
142,512 |
||||
Share of income on equity method |
2,303 |
- |
- |
2,303 |
357 |
||||
Net income (loss) |
1,032,635 |
(93,571) |
(16,621) |
922,443 |
142,869 |
||||
(v) Share-based compensation was allocated in cost of revenues and operating expenses as follows: |
|||||||||
First half year |
|||||||||
Ended June 30, 2021 |
|||||||||
Momo |
Tantan |
QOOL |
Total |
Total |
|||||
RMB |
RMB |
RMB |
RMB |
US$ |
|||||
Cost of revenues |
4,965 |
2,960 |
- |
7,925 |
1,227 |
||||
Research and development |
60,188 |
13,986 |
- |
74,174 |
11,488 |
||||
Sales and marketing |
25,877 |
6,267 |
- |
32,144 |
4,978 |
||||
General and administrative |
160,792 |
(69,120) |
- |
91,672 |
14,198 |
||||
Total cost and expenses |
251,822 |
(45,907) |
- |
205,915 |
31,891 |
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 half year |
|||||||||
ended June 30, 2021 |
|||||||||
Momo |
Tantan |
QOOL |
Total |
Total |
|||||
RMB |
RMB |
RMB |
RMB |
US$ |
|||||
Operating income (loss) |
1,284,486 |
(101,206) |
(16,712) |
1,166,568 |
180,679 |
||||
Share-based compensation |
251,822 |
(45,907) |
- |
205,915 |
31,891 |
||||
Amortization of intangible assets |
- |
70,553 |
- |
70,553 |
10,928 |
||||
Non-GAAP operating income |
1,536,308 |
(76,560) |
(16,712) |
1,443,036 |
223,498 |
||||
Net income (loss) |
1,032,635 |
(93,571) |
(16,621) |
922,443 |
142,869 |
||||
Share-based compensation |
251,822 |
(45,907) |
- |
205,915 |
31,891 |
||||
Amortization of intangible assets |
- |
70,553 |
- |
70,553 |
10,928 |
||||
Tax impacts |
- |
(17,639) |
- |
(17,639) |
(2,732) |
||||
Non-GAAP net income (loss) |
1,284,457 |
(86,564) |
(16,621) |
1,181,272 |
182,956 |
Hello Group Inc. |
|||||||||
Unaudited Condensed Segment Report |
|||||||||
(All amounts in thousands, except share and per share data) |
|||||||||
First half year |
|||||||||
Ended June 30, 2020 |
|||||||||
Momo |
Tantan |
QOOL |
Total |
Total |
|||||
RMB |
RMB |
RMB |
RMB |
US$ |
|||||
Net revenues: |
|||||||||
Live video service |
4,737,168 |
197,712 |
- |
4,934,880 |
698,487 |
||||
Value-added service |
1,678,907 |
701,167 |
- |
2,380,074 |
336,878 |
||||
Mobile marketing |
95,119 |
- |
- |
95,119 |
13,463 |
||||
Mobile games |
24,255 |
- |
- |
24,255 |
3,433 |
||||
Other services |
7,358 |
- |
20,650 |
28,008 |
3,964 |
||||
Total net revenues |
6,542,807 |
898,879 |
20,650 |
7,462,336 |
1,056,225 |
||||
Cost and expenses (vi): |
|||||||||
Cost of revenues |
(3,528,959) |
(364,723) |
(19,539) |
(3,913,221) |
(553,880) |
||||
Research and development |
(386,674) |
(154,487) |
- |
(541,161) |
(76,596) |
||||
Sales and marketing |
(731,560) |
(629,714) |
(34) |
(1,361,308) |
(192,681) |
||||
General and administrative |
(297,296) |
(47,508) |
(12,506) |
(357,310) |
(50,574) |
||||
Total cost and expenses |
(4,944,489) |
(1,196,432) |
(32,079) |
(6,173,000) |
(873,731) |
||||
Other operating income |
117,309 |
- |
139 |
117,448 |
16,624 |
||||
Income (loss) from operations |
1,715,627 |
(297,553) |
(11,290) |
1,406,784 |
199,118 |
||||
Interest income |
237,054 |
2,161 |
144 |
239,359 |
33,879 |
||||
Interest expense |
(39,940) |
- |
- |
(39,940) |
(5,653) |
||||
Other gain or loss, net |
(6,000) |
- |
- |
(6,000) |
(849) |
||||
Income (loss) before income tax and |
1,906,741 |
(295,392) |
(11,146) |
1,600,203 |
226,495 |
||||
Income tax (expenses) benefits |
(612,490) |
5,966 |
- |
(606,524) |
(85,848) |
||||
Income (loss) before share of income |
1,294,251 |
(289,426) |
(11,146) |
993,679 |
140,647 |
||||
Share of loss on equity method |
(440) |
- |
- |
(440) |
(62) |
||||
Net income (loss) |
1,293,811 |
(289,426) |
(11,146) |
993,239 |
140,585 |
||||
(vi) Share-based compensation was allocated in cost of revenues and operating expenses as follows: |
|||||||||
First half year |
|||||||||
ended June 30, 2020 |
|||||||||
Momo |
Tantan |
QOOL |
Total |
Total |
|||||
RMB |
RMB |
RMB |
RMB |
US$ |
|||||
Cost of revenues |
9,007 |
766 |
- |
9,773 |
1,383 |
||||
Research and development |
63,472 |
29,273 |
- |
92,745 |
13,127 |
||||
Sales and marketing |
84,346 |
5,851 |
- |
90,197 |
12,767 |
||||
General and administrative |
133,234 |
21,401 |
5,277 |
159,912 |
22,634 |
||||
Total cost and expenses |
290,059 |
57,291 |
5,277 |
352,627 |
49,911 |
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 half year |
|||||||||
ended June 30, 2020 |
|||||||||
Momo |
Tantan |
QOOL |
Total |
Total |
|||||
RMB |
RMB |
RMB |
RMB |
US$ |
|||||
Operating income (loss) |
1,715,627 |
(297,553) |
(11,290) |
1,406,784 |
199,118 |
||||
Share-based compensation |
290,059 |
57,291 |
5,277 |
352,627 |
49,911 |
||||
Amortization of intangible assets |
- |
77,484 |
- |
77,484 |
10,966 |
||||
Non-GAAP operating income |
2,005,686 |
(162,778) |
(6,013) |
1,836,895 |
259,995 |
||||
Net income (loss) |
1,293,811 |
(289,426) |
(11,146) |
993,239 |
140,585 |
||||
Share-based compensation |
290,059 |
57,291 |
5,277 |
352,627 |
49,911 |
||||
Amortization of intangible assets |
- |
77,484 |
- |
77,484 |
10,966 |
||||
Tax impacts |
- |
(19,371) |
- |
(19,371) |
(2,742) |
||||
Non-GAAP net income (loss) |
1,583,870 |
(174,022) |
(5,869) |
1,403,979 |
198,720 |
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