Exhibit 99.1

Hello Group Inc. Announces Unaudited Financial Results for the First Quarter of 2024

BEIJING, CHINA, May 28, 2024 – Hello Group Inc. (NASDAQ: MOMO) (“Hello Group” or the “Company”), a leading player in mainland China’s online social networking space, today announced its unaudited financial results for the first quarter of 2024.

First Quarter of 2024 Highlights

•

Net revenues decreased by 9.2% year over year to RMB2,560.4 million (US$354.6 million^*) in the first quarter of 2024.

•

Net income attributable to Hello Group Inc. decreased to RMB5.2 million (US$0.7 million) in the first quarter of 2024, from RMB390.3 million in the same period of 2023.

•

Non-GAAP net income attributable to Hello Group Inc. (note 1) decreased to RMB59.9 million (US$8.3 million) in the first quarter of 2024, from RMB471.9 million in the same period of 2023, mainly due to the accrual of withholding income tax of RMB448.6 million (US$62.1 million) on historical undistributed earnings generated by our wholly-foreign owned enterprise (“WFOE”).

•

Diluted net income per American Depositary Share (“ADS”) was RMB0.03 (US$0.00) in the first quarter of 2024, compared to RMB1.96 in the same period of 2023.

•

Non-GAAP diluted net income per ADS (note 1) was RMB0.31 (US$0.04) in the first quarter of 2024, compared to RMB2.36 in the same period of 2023.

•

Monthly Active Users (“MAU”) on Tantan app were 13.7 million in March 2024, compared to 19.5 million in March 2023.

•

For the Momo app total paying users was 7.1 million for the first quarter of 2024, compared to 7.8 million for the same period last year. Tantan had 1.1 million paying users for the first quarter of 2024 compared to 1.6 million from the year ago period.

“We have made steady progress in implementing our strategic priorities for Momo, Tantan, and our new endeavors since the beginning of the year,” commented Yan Tang, Chairman and CEO of Hello Group. “Product innovation and our ability to leverage technological advancements have enabled Momo to play an important role in helping users discover new relationships and build meaningful interactions. This has laid a solid foundation for us to maintain user and revenue scale over the long term. I am also glad to see that our overseas team has accelerated the localization process to drive continued growth in the new endeavors. We look forward to delivering high quality social and entertainment services to a much broader user base global wise.”

First Quarter of 2024 Financial Results

Net revenues

Total net revenues were RMB2,560.4 million (US$354.6 million) in the first quarter of 2024, a decrease of 9.2% from RMB2,818.9 million in the first quarter of 2023.

Live video service revenues were RMB1,238.5 million (US$171.5 million) in the first quarter of 2024, a decrease of 13.3% from RMB1,429.3 million during the same period of 2023. The decrease was primarily attributable to our proactive operational adjustments to de-emphasise large scale competition events in the Momo app and a soft consumer sentiment in the current macro environment, and to a lesser degree, Tantan pivoting away from the less dating-centric live video service.

This press release contains translations of certain Renminbi amounts into U.S. dollars at specified rate 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 RMB7.2203 to US$1.00, the effective noon buying rate for March 29, 2024 as set forth in the H.10 statistical release of the Federal Reserve Board.

Value-added service revenues mainly include virtual gift revenues and membership subscription revenues. Total value-added service revenues were RMB1,294.4 million (US$179.3 million) in the first quarter of 2024, a decrease of 4.9% from RMB1,361.5 million during the same period of 2023. The decrease was primarily due to our product adjustments to improve Momo app’s ecosystem as well as the impact of the macro economy on consumer sentiment, and to a lesser extent, the decline in Tantan’s paying users. The decrease was partially offset by the rapid revenue growth from the new standalone apps.

Mobile marketing revenues were RMB26.6 million (US$3.7 million) in the first quarter of 2024, an increase of 26.2% from RMB21.1 million during the same period of 2023.

Mobile games revenues were RMB0.4 million (US$0.1 million) in the first quarter of 2024, a decrease of 88.3% from RMB3.7 million in the first quarter of 2023.

Net revenues from the Momo segment decreased from RMB2,510.1 million in the first quarter of 2023 to RMB2,318.9 million (US$321.2 million) in the first quarter of 2024, primarily due to the decrease in net revenues from value-added service and live video service on Momo app. The decrease was partially offset by the revenue growth of the new standalone apps. Net revenues from the Tantan segment decreased from RMB308.6 million in the first quarter of 2023 to RMB241.5 million (US$33.4 million) in the first quarter of 2024, mainly due to the decrease in net revenues from live video service, and to a lesser extent, the decrease from value-added service.

Cost and expenses

Cost and expenses were RMB2,120.0 million (US$293.6 million) in the first quarter of 2024, a decrease of 12.4% from RMB2,419.1 million in the first quarter of 2023. The decrease was primarily attributable to: (a) a decrease in revenue sharing with broadcasters related to live video service on Momo app and Tantan app, and a decrease in revenue sharing with virtual gift recipients of virtual gift service on Momo app. The decrease was partially offset by an increase in revenue sharing with virtual gift recipients for new standalone apps; (b) a decrease in salary expenses and share-based compensation expenses, due to our continuous optimization in personnel costs and the newly granted share options which had lower fair value; (c) a decrease in sales and marketing expenses due to less marketing and promotional spend on live video service and our strategy to trim inefficient channel marketing spend.

Non-GAAP cost and expenses (note 1) were RMB2,065.3 million (US$286.0 million) in the first quarter of 2024, a decrease of 11.6% from RMB2,337.4 million during the same period of 2023.

Income from operations

Income from operations was RMB460.3 million (US$63.8 million) in the first quarter of 2024, compared to RMB436.2 million during the same period of 2023. Income from operations of the Momo segment was RMB434.0 million (US$60.1 million) in the first quarter of 2024, which decreased from RMB435.0 million in the first quarter of 2023. Income from operations of the Tantan segment was RMB28.6 million (US$4.0 million) in the first quarter of 2024, which increased from RMB5.2 million in the first quarter of 2023.

Non-GAAP income from operations (note 1) was RMB515.0 million (US$71.3 million) in the first quarter of 2024, compared to RMB517.8 million during the same period of 2023. Non-GAAP income from operations of the Momo segment was RMB488.5 million (US$67.7 million) in the first quarter of 2024, which decreased from RMB507.5 million in the first quarter of 2023. Non-GAAP income from operations of the Tantan segment was RMB28.8 million (US$4.0 million) in the first quarter of 2024, compared to RMB14.5 million in the first quarter of 2023.

Income tax expenses

Income tax expenses were RMB557.6 million (US$77.2 million) in the first quarter of 2024, compared to RMB122.6 million in the first quarter of 2023. In the first quarter of 2024, we accrued an income tax expenses of RMB109.0 million (US$15.1 million) associated with the profit generated in this quarter. Additionally, we accrued a withholding income tax of RMB448.6 million (US$62.1 million) associated with our WFOE’s historical undistributed earnings for the potential remittance of earnings from our WFOE to its offshore parent company in the form of dividend distribution. Because we believe that we might continue to distribute the WFOE’s undistributed earnings in the future to fund our demands in overseas business operations, payments of dividends, potential investments, etc, to be prudent, we accrued withholding tax on the total balance of undistributed earnings of our WFOE as of March 31, 2024. From the first quarter of 2024, dividends paid by our wholly foreign-owned subsidiary in the Chinese mainland to its offshore parent company in Hong Kong are qualified for the preferential withholding tax rate of 5% under the Arrangement between the PRC and the Hong Kong Special Administrative Region on the Avoidance of Double Taxation and Prevention of Fiscal Evasion with respect to Taxes on Income, instead of the normal withholding tax rate of 10%.

Net income

Net income was RMB5.2 million (US$0.7 million) in the first quarter of 2024, compared to RMB389.5 million during the same period of 2023. Net loss of the Momo segment was RMB20.8 million (US$2.9 million) in the first quarter of 2024, compared to a net income of RMB389.0 million in the same period of 2023. Net income from the Tantan segment was RMB28.2 million (US$3.9 million) in the first quarter of 2024, compared to RMB4.5 million in the first quarter of 2023.

Non-GAAP net income (note 1) was RMB59.9 million (US$8.3 million) in the first quarter of 2024, compared to RMB471.1 million during the same period of 2023. Non-GAAP net income from the Momo segment was RMB33.7 million (US$4.7 million) in the first quarter of 2024, which decreased from RMB461.5 million in the first quarter of 2023. Non-GAAP net income of the Tantan segment was RMB28.4 million (US$3.9 million) in the first quarter of 2024, compared to RMB13.7 million in the first quarter of 2023.

Net income attributable to Hello Group Inc.

Net income attributable to Hello Group Inc. was RMB5.2 million (US$0.7 million) in the first quarter of 2024, compared to RMB390.3 million during the same period of 2023.

Non-GAAP net income (note 1) attributable to Hello Group Inc. was RMB59.9 million (US$8.3 million) in the first quarter of 2024, compared to RMB471.9 million during the same period of 2023.

Net income per ADS

Diluted net income per ADS was RMB0.03 (US$0.00) in the first quarter of 2024, compared to RMB1.96 in the first quarter of 2023.

Non-GAAP diluted net income per ADS (note 1) was RMB0.31 (US$0.04) in the first quarter of 2024, compared to RMB2.36 in the first quarter of 2023.

Cash and cash flow

As of March 31, 2024, the Company’s cash, cash equivalents, short-term deposits, long-term deposits, short-term restricted cash and long-term restricted cash totaled RMB15,115.8 million (US$2,093.5 million), compared to RMB13,478.5 million as of December 31, 2023.

Net cash provided by operating activities in the first quarter of 2024 was RMB400.2 million (US$55.4 million), compared to RMB451.1 million in the first quarter of 2023.

Recent Development

Payment of a special cash dividend

In March 2024, Hello Group’s board of directors declared a special cash dividend in the amount of US$0.54 per ADS, or US$0.27 per ordinary share. The cash dividend was paid on April 30, 2024 to shareholders of record at the close of business on April 12, 2024. The aggregate amount of cash dividends paid was US$98.9 million.

Share repurchase program

On June 7, 2022, Hello Group’s board of directors authorized a share repurchase program under which the Company may repurchase up to US$200 million of its shares up to June 6, 2024 (the “Share Repurchase Program”). On March 14, 2024, Hello Group’s board of directors approved to amend the Share Repurchase Program to (i) extend the term of the Share Repurchase Program up to June 30, 2026, and (ii) upsize the Share Repurchase Program so that the Company is authorized to, from time to time, acquire up to an aggregate of US$286.1 million worth of its shares in the form of ADSs and/or the ordinary shares of the Company in the open market and through privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations.

As of May 28, 2024, the Company has repurchased 22.3 million ADSs for US$122.6 million on the open market under Share Repurchase Program announced on June 7, 2022 and amended on March 14, 2024, at an average purchase price of US$5.48 per ADS.

Business Outlook

For the second quarter of 2024, the Company expects total net revenues to be between RMB2.65 billion to RMB2.75 billion, representing a decrease of 15.5% to 12.4% 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, Hello Group, use various non-GAAP financial measures that are adjusted from the most comparable GAAP results to exclude share-based compensation.

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. A limitation of using these non-GAAP financial measures is that share-based compensation has 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, May 28, 2024, at 8:00 a.m. U.S. Eastern Time (8:00 p.m. Beijing / Hong Kong Time on May 28, 2024).

Participants can register for the conference call by navigating to:

https://s1.c-conf.com/diamondpass/10039014-cp8m51.html.

Upon registration, each participant will receive details for the conference call, including dial-in numbers, conference call passcode and a unique access PIN. Please dial in 10 minutes before the call is scheduled to begin.

A telephone replay of the call will be available after the conclusion of the conference call through June 4, 2024. The dial-in details for the replay are as follows:

U.S. / Canada: 1-855-883-1031

Hong Kong: 800-930-639

Passcode: 10039014

Additionally, a live and archived webcast of the conference call will be available on the Investor Relations section of Hello Group’s website at https://ir.hellogroup.com.

About Hello Group Inc.

We are a leading player in mainland China’s online social networking 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. Tantan is designed to help its users find and establish romantic connections as well as meet interesting people. Starting from 2019, we have incubated a number of other new apps, such as Hertz, Soulchill, Duidui and Tietie, which target more niche markets and more selective demographics.

For investor and media inquiries, please contact:

Hello Group Inc.

Investor Relations

Phone: +86-10-5731-0538

Email: ir@hellogroup.com

Christensen

In China

Ms. Xiaoyan Su

Phone: +86-10-5900-1548

E-mail: Xiaoyan.Su@christensencomms.com

In U.S.

Ms. Linda Bergkamp

Phone: +1-480-614-3004

Email: linda.bergkamp@christensencomms.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 second quarter of 2024, 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 first quarter of 2024 are preliminary, unaudited and subject to audit adjustment. In addition, we may not meet our financial outlook for the second quarter of 2024 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 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
	Ended March 31
	2023			2024			2024
	RMB			RMB			US$
Net revenues:
Live video service		1,429,340			1,238,541			171,536
Value-added service		1,361,469			1,294,376			179,269
Mobile marketing		21,071			26,595			3,683
Mobile games		3,699			432			60
Other services		3,279			476			66

Total net revenues		2,818,858			2,560,420			354,614
Cost and expenses:
Cost of revenues		(1,664,188	)		(1,503,008	)		(208,164	)
Research and development		(236,803	)		(192,191	)		(26,618	)
Sales and marketing		(379,786	)		(293,431	)		(40,640	)
General and administrative		(138,298	)		(131,381	)		(18,196	)

Total cost and expenses		(2,419,075	)		(2,120,011	)		(293,618	)
Other operating income, net		36,394			19,906			2,757

Income from operations		436,177			460,315			63,753
Interest income		99,787			121,107			16,773
Interest expense		(10,415	)		(23,698	)		(3,282	)
Other gain or loss, net		—			(9,245	)		(1,280	)

Income before income tax and share of (loss) income on equity method investments		525,549			548,479			75,964
Income tax expenses		(122,613	)		(557,613	)		(77,229	)

Income (loss) before share of income on equity method investments		402,936			(9,134	)		(1,265	)
Share of (loss) income on equity method investments		(13,475	)		14,318			1,983

Net income		389,461			5,184			718

Less: net loss attributable to non-controlling interest		(828	)		—			—

Net income attributable to the shareholders of Hello Group Inc.		390,289			5,184			718

Net income per share attributable to ordinary shareholders
Basic		1.04			0.01			0.00
Diluted		0.98			0.01			0.00
Weighted average shares used in calculating net income per ordinary share
Basic		377,017,080			374,650,649			374,650,649
Diluted		409,102,277			389,278,806			389,278,806

Hello Group Inc.

Unaudited Condensed Consolidated Statement of Comprehensive Income

(All amounts in thousands, except share and per share data)

Three months

Ended March 31

2023

2024

RMB

US$

Net income

389,461

5,184

718

Other comprehensive income, net of tax:

Foreign currency translation adjustment

2,181

54,894

7,603

Comprehensive income

391,642

60,078

8,321

Less: comprehensive (loss) income attributed to the non-controlling interest

(1,670

)

3,084

427

Comprehensive income attributable to Hello Group Inc.

393,312

56,994

7,894

Hello Group Inc.

Unaudited Condensed Consolidated Balance Sheets

(All amounts in thousands, except share and per share data)


	December 31		March 31		March 31
	2023		2024		2024
	RMB		RMB		US$
Assets
Current assets
Cash and cash equivalents		5,620,466		6,023,224		834,207
Short-term deposits		1,270,626		1,129,454		156,428
Restricted cash		10,147		1,504,307		208,344
Accounts receivable, net of allowance for doubtful accounts of RMB12,780 and RMB12,497 as of December 31, 2023 and March 31, 2024, respectively		201,517		189,561		26,254
Amounts due from related parties		7,258		—		—
Prepaid expenses and other current assets		723,364		823,251		114,019

Total current assets		7,833,378		9,669,797		1,339,252
Long-term deposits		3,924,975		3,805,075		526,997
Long-term restricted cash		2,652,299		2,653,744		367,539
Right-of-use assets, net		109,572		116,607		16,150
Property and equipment, net		659,033		688,699		95,384
Intangible assets, net		17,086		15,806		2,189
Rental deposits		12,962		13,766		1,907
Long-term investments		786,911		710,557		98,411
Amounts due from RPT-non current		20,000		—		—
Other non-current assets		180,052		200,649		27,790
Deferred tax assets		31,741		34,240		4,742

Total assets		16,228,009		17,908,940		2,480,361

Liabilities and equity
Current liabilities
Accounts payable		616,681		604,398		83,711
Deferred revenue		442,805		459,797		63,681
Accrued expenses and other current liabilities		630,617		564,205		78,141
Amounts due to related parties		4,314		—		—
Lease liabilities due within one year		60,008		66,136		9,160
Income tax payable		94,719		100,756		13,955
Deferred consideration in connection with business acquisitions		27,261		27,723		3,840
Long-term borrowings, current portion		215,615		217,094		30,067
Dividends payable		—		714,120		98,904
Short-term borrowings		—		1,334,664		184,849

Total current liabilities		2,092,020		4,088,893		566,308
Deferred tax liabilities		24,987		391,502		54,222
Convertible Senior Notes		19,571		19,920		2,759
Long-term borrowings		1,938,385		1,938,169		268,433
Lease liabilities		52,171		52,487		7,269
Other non-current liabilities		114,085		139,721		19,351

Total liabilities		4,241,219		6,630,692		918,342
Shareholder’s equity (i)		11,986,790		11,278,248		1,562,019

Total liabilities and shareholder’s equity		16,228,009		17,908,940		2,480,361

(i):	As of March 31, 2024, the number of ordinary shares outstanding was 370,162,906.

Hello Group Inc.

Unaudited Condensed Consolidated Statement of Cash Flows

(All amounts in thousands, except share and per share data)


	Three months
	Ended March 31
	2023			2024			2024
	RMB			RMB			US$
Cash flows from operating activities:
Net income		389,461			5,184			718
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of property and equipment		22,844			14,310			1,982
Amortization of intangible assets		1,279			1,279			177
Share-based compensation		81,657			54,670			7,572
Share of loss (income) on equity method investments		13,475			(14,318	)		(1,983	)
Loss on long-term investments		—			9,245			1,280
Gain or loss on disposal of property and equipment		67			258			36
Provision of loss on receivable and other assets		9,182			1,776			246
Changes in operating assets and liabilities:
Accounts receivable		(548	)		10,980			1,521
Prepaid expenses and other current assets		24,352			(9,677	)		(1,340	)
Amounts due from related parties		55			—			—
Rental deposits		—			(802	)		(111	)
Deferred tax assets		440			(2,498	)		(346	)
Other non-current assets		(7,485	)		(7,597	)		(1,052	)
Accounts payable		20,379			(17,454	)		(2,417	)
Income tax payable		(6,393	)		6,036			836
Deferred revenue		(8,811	)		16,674			2,309
Accrued expenses and other current liabilities		(132,733	)		(56,800	)		(7,867	)
Amount due to related parties		3,169			—			—
Deferred tax liabilities		34,120			365,011			50,553
Other non-current liabilities		6,564			23,893			3,309

Net cash provided by operating activities		451,074			400,170			55,423
Cash flows from investing activities:
Purchase of property and equipment		(10,234	)		(44,176	)		(6,118	)
Purchase of short-term deposits		(497,342	)		—			—
Cash received on maturity of short-term deposits		900,000			300,000			41,550
Purchase of long-term deposits		—			(718,860	)		(99,561	)
Cash received on maturity of long—term deposits		—			718,860			99,561
Cash received from sales of long-term investment		—			2,000			277
Other investing activities		738			385			53

Net cash provided by investing activities		393,162			258,209			35,762
Cash flows from financing activities:
Proceeds from exercise of share options		3			11			2
Payment in relation to the share repurchase program		(3,237	)		(112,261	)		(15,548	)
Repurchase of subsidiary’s share options		(1,539	)		—			—
Proceeds from short-term borrowings		—			1,331,635			184,429
Repayment of long-term borrowings		—			(215	)		(30	)
Payment for redemption of convertible bonds		(478,786	)		—			—

Net cash (used in) provided by financing activities		(483,559	)		1,219,170			168,853
Effect of exchange rate changes		(9,426	)		20,814			2,882

Net increase in cash and cash equivalents		351,251			1,898,363			262,920
Cash, cash equivalents and restricted cash at the beginning of period		5,198,601			8,282,912			1,147,170
Cash, cash equivalents and restricted cash at the end of period		5,549,852			10,181,275			1,410,090

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 March 31, 2023								Ended March 31, 2024								Ended March 31, 2024
	GAAP RMB			Share-based compensation RMB		Non-GAAP RMB			GAAP RMB			Share-based compensation RMB		Non-GAAP RMB			GAAP US$			Share-based compensation US$		Non-GAAP US$
Cost of revenues		(1,664,188	)		1,635		(1,662,553	)		(1,503,008	)		1,882		(1,501,126	)		(208,164	)		261		(207,903	)
Research and development		(236,803	)		22,372		(214,431	)		(192,191	)		8,786		(183,405	)		(26,618	)		1,217		(25,401	)
Sales and marketing		(379,786	)		7,746		(372,040	)		(293,431	)		6,117		(287,314	)		(40,640	)		847		(39,793	)
General and administrative		(138,298	)		49,904		(88,394	)		(131,381	)		37,885		(93,496	)		(18,196	)		5,247		(12,949	)

Cost and operating expenses		(2,419,075	)		81,657		(2,337,418	)		(2,120,011	)		54,670		(2,065,341	)		(293,618	)		7,572		(286,046	)
Income from operations		436,177			81,657		517,834			460,315			54,670		514,985			63,753			7,572		71,325
Net income attributable to Hello Group Inc.		390,289			81,657		471,946			5,184			54,670		59,854			718			7,572		8,290

Hello Group Inc.

Unaudited Condensed Segment Report

(All amounts in thousands, except share and per share data)


	Three months
	Ended March 31, 2024
	Momo			Tantan			QOOL			Total			Total
	RMB			RMB			RMB			RMB			US$
Net revenues:
Live video service		1,150,844			87,697			—			1,238,541			171,536
Value-added service		1,149,285			145,091			—			1,294,376			179,269
Mobile marketing		17,893			8,702			—			26,595			3,683
Mobile games		432			—			—			432			60
Other services		434			—			42			476			66

Total net revenues		2,318,888			241,490			42			2,560,420			354,614
Cost and expenses (ii):
Cost of revenues		(1,392,824	)		(110,184	)		—			(1,503,008	)		(208,164	)
Research and development		(150,861	)		(41,330	)		—			(192,191	)		(26,618	)
Sales and marketing		(236,659	)		(54,482	)		(2,290	)		(293,431	)		(40,640	)
General and administrative		(123,752	)		(7,591	)		(38	)		(131,381	)		(18,196	)

Total cost and expenses		(1,904,096	)		(213,587	)		(2,328	)		(2,120,011	)		(293,618	)
Other operating income		19,158			724			24			19,906			2,757

Income (loss) from operations		433,950			28,627			(2,262	)		460,315			63,753
Interest income		120,958			147			2			121,107			16,773
Interest expense		(23,698	)		—			—			(23,698	)		(3,282	)
Other gain or loss, net		(9,245	)		—			—			(9,245	)		(1,280	)

Income (loss) before income tax and share of income on equity method investments		521,965			28,774			(2,260	)		548,479			75,964
Income tax expenses		(557,079	)		(534	)		—			(557,613	)		(77,229	)

(Loss) income before share of income on equity method investments		(35,114	)		28,240			(2,260	)		(9,134	)		(1,265	)
Share of income on equity method investments		14,318			—			—			14,318			1,983

Net (loss) income		(20,796	)		28,240			(2,260	)		5,184			718

(ii)	Share-based compensation was allocated in cost of revenues and operating expenses as follows:


	Three months
	Ended March 31, 2024
	Momo		Tantan		QOOL		Total		Total
	RMB		RMB		RMB		RMB		US$
Cost of revenues		1,878		4		—		1,882		261
Research and development		8,638		148		—		8,786		1,217
Sales and marketing		6,117		—		—		6,117		847
General and administrative		37,874		11		—		37,885		5,247

Total cost and expenses		54,507		163		—		54,670		7,572

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 March 31, 2024
	Momo			Tantan		QOOL			Total		Total
	RMB			RMB		RMB			RMB		US$
Income (loss) from operations		433,950			28,627		(2,262	)		460,315		63,753
Share-based compensation		54,507			163		—			54,670		7,572

Non-GAAP income (loss) from operations		488,457			28,790		(2,262	)		514,985		71,325
Net (loss) income		(20,796	)		28,240		(2,260	)		5,184		718
Share-based compensation		54,507			163		—			54,670		7,572

Non-GAAP net income (loss)		33,711			28,403		(2,260	)		59,854		8,290

Hello Group Inc.

Unaudited Condensed Segment Report

(All amounts in thousands, except share and per share data)


	Three months
	Ended March 31, 2023
	Momo			Tantan			QOOL			Total			Total
	RMB			RMB			RMB			RMB			US$¹
Net revenues:
Live video service		1,289,718			139,622			—			1,429,340			208,128
Value-added service		1,193,544			167,925			—			1,361,469			198,246
Mobile marketing		20,021			1,050			—			21,071			3,068
Mobile games		3,699			—			—			3,699			539
Other services		3,137			—			142			3,279			477

Total net revenues		2,510,119			308,597			142			2,818,858			410,458
Cost and expenses (iii):
Cost of revenues		(1,500,531	)		(163,114	)		(543	)		(1,664,188	)		(242,325	)
Research and development		(169,308	)		(67,495	)		—			(236,803	)		(34,481	)
Sales and marketing		(312,640	)		(65,852	)		(1,294	)		(379,786	)		(55,301	)
General and administrative		(128,078	)		(7,746	)		(2,474	)		(138,298	)		(20,138	)

Total cost and expenses		(2,110,557	)		(304,207	)		(4,311	)		(2,419,075	)		(352,245	)
Other operating income, net		35,478			854			62			36,394			5,299

Income (loss) from operations		435,040			5,244			(4,107	)		436,177			63,512
Interest income		99,531			204			52			99,787			14,530
Interest expense		(10,415	)		—			—			(10,415	)		(1,517	)

Income (loss) before income tax and share of income on equity method investments		524,156			5,448			(4,055	)		525,549			76,525
Income tax expenses		(121,642	)		(971	)		—			(122,613	)		(17,854	)

Income (loss) before share of income on equity method investments		402,514			4,477			(4,055	)		402,936			58,671
Share of loss on equity method investments		(13,475	)		—			—			(13,475	)		(1,962	)

Net income (loss)		389,039			4,477			(4,055	)		389,461			56,709

(iii)

Share-based compensation was allocated in cost of revenues and operating expenses as follows:


	Three months
	Ended March 31, 2023
	Momo		Tantan		QOOL		Total		Total
	RMB		RMB		RMB		RMB		US$
Cost of revenues		1,618		17		—		1,635		238
Research and development		13,170		9,202		—		22,372		3,258
Sales and marketing		7,741		5		—		7,746		1,128
General and administrative		49,896		8		—		49,904		7,267

Total cost and expenses		72,425		9,232		—		81,657		11,891

¹	All translations from RMB to U.S. dollars are made at a rate of RMB6.8676 to US$1.00, the effective noon buying rate for March 31, 2023 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 March 31, 2023
	Momo		Tantan		QOOL			Total		Total
	RMB		RMB		RMB			RMB		US$
Income (loss) from operations		435,040		5,244		(4,107	)		436,177		63,512
Share-based compensation		72,425		9,232		—			81,657		11,891

Non-GAAP income (loss) from operations		507,465		14,476		(4,107	)		517,834		75,403
Net income (loss)		389,039		4,477		(4,055	)		389,461		56,709
Share-based compensation		72,425		9,232		—			81,657		11,891

Non-GAAP net income (loss)		461,464		13,709		(4,055	)		471,118		68,600

Hello Group Inc. 6-K