Hello Group Inc. Announces Unaudited Financial Results for the Fourth Quarter and Fiscal Year 2021
Hello Group (NASDAQ: MOMO) reported its Q4 and full-year 2021 financial results, with net revenues decreasing by 3.2% year-over-year to RMB3,674.2 million (US$576.6 million). A significant net loss of RMB4,242.7 million (US$665.8 million) was recorded for Q4, attributed mainly to an impairment loss of RMB4,397.0 million (US$690.0 million). Full-year revenues also fell by 3.0% to RMB14,575.7 million (US$2,287.2 million). Looking ahead, the company anticipates Q1 2022 revenues between RMB3.1 billion and RMB3.2 billion, indicating a potential decline of up to 10.7% year-over-year.
- Value-added service revenues increased by 5.3% year-over-year to RMB1,475.7 million (US$231.6 million) in Q4 2021, driven by growth in the virtual gift business.
- Mobile games revenues surged by 163.1% in Q4 2021, reaching RMB19.3 million (US$3.0 million).
- Monthly Active Users (MAU) on the Momo application grew to 114.1 million in December 2021, up from 113.8 million in December 2020.
- Net loss attributable to Hello Group Inc. was RMB4,242.7 million (US$665.8 million) in Q4 2021, a drastic change from a net income of RMB651.5 million in the same quarter of 2020.
- Diluted net loss per ADS dropped to RMB21.50 (US$3.37) in Q4 2021, compared to a diluted income of RMB2.98 in Q4 2020.
- Total net revenues for the full year decreased by 3.0% to RMB14,575.7 million (US$2,287.2 million), down from RMB15,024.2 million in 2020.
BEIJING, March 24, 2022 /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 fourth quarter and the full year ended December 31, 2021.
Fourth Quarter of 2021 Highlights
- Net revenues decreased by
3.2% year over year to RMB3,674.2 million (US$576.6 million *) in the fourth quarter of 2021. - Net loss attributable to Hello Group Inc. was RMB4,242.7 million (US
$665 .8 million) in the fourth quarter of 2021, compared to a net income of RMB651.5 million in the same period of 2020. Due to the fact that the Group's fair market value as indicated by its market capitalization was significantly below its net book value of equity, the Group determined that a triggering event had occurred for impairment. The Group conducted a detailed impairment analysis and recorded RMB4,397.0 million (US$690.0 million ) as impairment loss, which represented the total value of all the goodwill and intangible assets with the exception of its operational licenses and permits on the consolidated statement of operations for the year ended December 31, 2021. - Non-GAAP net income attributable to Hello Group Inc. (note 1) decreased to RMB280.9 million (US
$44 .1 million) in the fourth quarter of 2021, from RMB836.4 million in the same period of 2020. Non-GAAP net income attributable to Hello Group Inc. included an accrual of withholding income tax of RMB207.4 million (US$32 .5 million) on undistributed earnings generated in 2021 by our wholly-foreign owned enterprise ("WFOE"), due to our plan to remit WFOE's earnings to its offshore parent company in the foreseeable future to fund its demand on US dollar in business operations, payments of dividends, potential investments, etc.. Without this item, non-GAAP net income attributable to Hello Group Inc. would have been RMB488.3 million (US$76.6 million ) in the fourth quarter of 2021. - Diluted net loss per American Depositary Share ("ADS") was RMB21.50 (US
$3.37) in the fourth quarter of 2021, compared to a diluted net income per ADS of RMB2.98 in the same period of 2020. - Non-GAAP diluted net income per ADS (note 1) was RMB1.38 (US
$0.22) in the fourth quarter of 2021, compared to RMB3.80 in the same period of 2020. - Monthly Active Users ("MAU") on Momo application were 114.1 million in December 2021, compared to 113.8 million in December 2020. MAU on Tantan application were 27.0 million in December 2021.
- Total paying users of live video service and value-added service, without double counting the overlap and including 2.5 million paying users of Tantan Limited ("Tantan"), were 11.4 million for the fourth quarter of 2021, compared to 12.8 million for the fourth quarter of 2020, which included 3.8 million paying users of Tantan.
Full Year 2021 Highlights
- Net revenues decreased
3.0% year over year to RMB14,575.7 million (US$2,287.2 million ) for the full year of 2021. - Net loss attributable to Hello Group Inc. was RMB2,913.7 million (US
$457.2 million ) for the full year of 2021, compared to a net income of RMB2,103.5 million during the same period of 2020. - Non-GAAP net income attributable to Hello Group Inc. (note 1) was RMB2,037.1 million (US
$319.7 million ) for the full year of 2021, compared with RMB2,896.2 million during the same period of 2020. - Diluted net loss per ADS was RMB14.40 (US
$2.26) for the full year of 2021, compared to a diluted net income per ADS of RMB9.65 during the same period of 2020. - Non-GAAP diluted net income per ADS (note 1) was RMB9.56 (US
$1.50 ) for the full year of 2021, compared with RMB13.16 during the same period of 2020.
* 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 RMB6.3726 to US |
"2021 was a busy year for us. Despite a variety of external challenges, our team was able to methodically execute our strategic priorities and delivered solid results. I am confident that we'll continue to navigate through the challenges ahead and capitalize on the growth opportunities down the road." commented Li Wang, CEO of Hello Group.
Fourth Quarter of 2021 Financial Results
Net revenues
Total net revenues were RMB3,674.2 million (US
Live video service revenues were RMB2,148.8 million (US
Value-added service revenues mainly include virtual gift revenues and membership subscription revenues. Total value-added service revenues were RMB1,475.7 million (US
Mobile marketing revenues were RMB25.4 million (US
Mobile games revenues were RMB19.3 million (US
Net revenues from the Momo segment increased from RMB3,051.3 million in the fourth quarter of 2020 to RMB3,235.6 million (US
Cost and expenses
Cost and expenses were RMB7,729.4 million (US
Non-GAAP cost and expenses (note 1) were RMB3,205.8 million (US
Other operating income
Other operating income was RMB38.6 million (US
Income (loss) from operations
Loss from operations was RMB4,016.6 million (US
Non-GAAP income from operations (note 1) was RMB507.0 million (US
Income tax expenses
Income tax expenses were RMB296.5 million (US
Net income (loss)
Net loss was RMB4,244.0 million (US
Non-GAAP net income (note 1) was RMB279.6 million (US
Net income (loss) attributable to Hello Group Inc.
Net loss attributable to Hello Group Inc. was RMB4,242.7 million (US
Non-GAAP net income (note 1) attributable to Hello Group Inc. was RMB280.9 million (US
Net income (loss) per ADS
Diluted net loss per ADS was RMB21.50 (US
Non-GAAP diluted net income per ADS (note 1) was RMB1.38 (US
Cash and cash flow
As of December 31, 2021, the Company's cash, cash equivalents, short-term deposits, long-term deposits and long-term restricted cash totaled RMB15,707.0 million (US
Full Year 2021 Financial Results
Net revenues for the full year of 2021 were RMB14,575.7 million (US
Net loss attributable to Hello Group Inc. was RMB2,913.7 million (US
Non-GAAP net income attributable to Hello Group Inc. (note 1) was RMB2,037.1 million (US
Diluted net loss per ADS was RMB14.40 (US
Non-GAAP diluted net income per ADS (note 1) was RMB9.56 (US
Net cash provided by operating activities was RMB1,559.2 million (US
Recent Development
Declaration of a special cash dividend
Hello Group's board of directors has declared a special cash dividend in the amount of US
CFO Transition
The Company today announced that Jonathon Zhang, Chief Financial Officer, will retire effective June 30, 2022. Cathy Hui Peng, Senior Vice President of corporate finance, will assume the role of chief financial officer following Mr. Zhang's retirement and Mr. Zhang will remain with the Company as a senior advisor.
"My tenure with Hello Group was such a gratifying journey. I consider the past 8 years with the Company as the most exciting part of my long career life. It has been an absolute privilege to work with the team and have built a great business." said Jonathon Zhang. "I'm also pleased to pass the baton to Cathy. A long time deputy of mine, she is the right person to lead the team to continue their success."
"Jonathon has made tremendous contribution to the Company over the past 8 years. He has been playing an indispensable role in transforming the company and guiding the team to enable our success. On behalf of the company, I want to thank Jonathon for his leadership and dedication and wish him much happiness in his next chapter." said Li Wang, Chief Executive Officer of the Company. "At the same time, we are delighted that Cathy will transition into the CFO role. Her deep capital market experience, demonstrated financial acumen and leadership skills will serve her well in her new role."
Prior to this expanded role, Ms. Peng serves as the Company's Senior Vice President of corporate finance. In this role she is responsible for the company's financial planning and analysis, strategic investment and acquisitions, as well as corporate strategy and investor communications. Ms. Peng joined the Company in 2015 as vice president of investor relations. Since then, she has played a key role in driving the company's success in various capital market transactions. From 2007 to 2015, Ms. Peng worked for SINA Corporation as director of investor relations and a corporate treasurer. Prior to that, she worked for several public and private companies in TMT space where she served various roles in accounting, financial planning and analysis, M&As and corporate communications. Ms. Peng started her career in auditing at Ernst &Young from 2001. Ms. Peng received her bachelor degree in Economics from Peking University in 2001.
Business Outlook
For the first quarter of 2022, the Company expects total net revenues to be between RMB3.1 billion to RMB3.2 billion, representing a decrease of
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, impairment loss on goodwill and intangible assets, 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 (loss) attributable to Hello Group Inc., and diluted net income per ADS) is adjusted from the most comparable GAAP results to exclude share-based compensation, impairment loss on goodwill and intangible assets, 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, impairment loss on goodwill and intangible assets, 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 Thursday, March 24, 2022, at 8:00 a.m. U.S. Eastern Time (8:00 p.m. Beijing / Hong Kong Time on March 24, 2022).
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/1244109
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, April 1, 2022. The dial-in details for the replay are as follows:
International: +61-2- 9003- 4211
U.S. Toll Free: +1-855- 4525-696
Passcode: 1244109
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 first quarter of 2022, 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 fourth quarter of 2021 are preliminary, unaudited and subject to audit adjustment. In addition, we may not meet our financial outlook for the first quarter of 2022 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 | Year | ||||||||||
Ended December 31 | Ended December 31 | ||||||||||
2020 | 2021 | 2021 | 2020 | 2021 | 2021 | ||||||
RMB | RMB | US$ | RMB | RMB | US$ | ||||||
Net revenues: | |||||||||||
Live video service | 2,327,875 | 2,148,785 | 337,191 | 9,637,579 | 8,378,945 | 1,314,839 | |||||
Value-added service | 1,401,269 | 1,475,733 | 231,575 | 5,112,182 | 5,971,792 | 937,104 | |||||
Mobile marketing | 52,663 | 25,369 | 3,981 | 198,197 | 159,010 | 24,952 | |||||
Mobile games | 7,334 | 19,294 | 3,028 | 39,564 | 47,712 | 7,487 | |||||
Other services | 6,060 | 5,048 | 792 | 36,666 | 18,260 | 2,866 | |||||
Total net revenues | 3,795,201 | 3,674,229 | 576,567 | 15,024,188 | 14,575,719 | 2,287,248 | |||||
Cost and expenses: | |||||||||||
Cost of revenues | (2,042,781) | (2,191,520) | (343,897) | (7,976,781) | (8,383,431) | (1,315,543) | |||||
Research and development | (327,295) | (316,024) | (49,591) | (1,167,677) | (1,131,781) | (177,601) | |||||
Sales and marketing | (697,722) | (659,604) | (103,506) | (2,813,922) | (2,604,309) | (408,673) | |||||
General and administrative | (222,191) | (165,257) | (25,932) | (763,150) | (624,700) | (98,029) | |||||
Impairment loss ongoodwill and intangible assets | - | (4,397,012) | (689,987) | - | (4,397,012) | (689,987) | |||||
Total cost and expenses | (3,289,989) | (7,729,417) | (1,212,913) | (12,721,530) | (17,141,233) | (2,689,833) | |||||
Other operating income | 88,385 | 38,558 | 6,051 | 228,777 | 175,947 | 27,610 | |||||
Income (loss) from operations | 593,597 | (4,016,630) | (630,295) | 2,531,435 | (2,389,567) | (374,975) | |||||
Interest income | 100,880 | 99,573 | 15,625 | 444,471 | 384,279 | 60,302 | |||||
Interest expense | (19,047) | (18,444) | (2,894) | (78,872) | (73,776) | (11,577) | |||||
Other gain or loss, net | 7,500 | 2,000 | 314 | 1,500 | (16,000) | (2,511) | |||||
Income (loss) before income tax and share of income on | 682,930 | (3,933,501) | (617,250) | 2,898,534 | (2,095,064) | (328,761) | |||||
Income tax expenses | (5,481) | (296,491) | (46,526) | (755,620) | (822,556) | (129,077) | |||||
Income (loss) before share of income on equity method | 677,449 | (4,229,992) | (663,776) | 2,142,914 | (2,917,620) | (457,838) | |||||
Share of loss on equity method investments | (26,319) | (14,045) | (2,204) | (42,522) | (8,084) | (1,269) | |||||
Net income (loss) | 651,130 | (4,244,037) | (665,980) | 2,100,392 | (2,925,704) | (459,107) | |||||
Less: net loss attributable to non-controlling interest | (320) | (1,319) | (207) | (3,092) | (11,996) | (1,882) | |||||
Net income (loss) attributable to the shareholders of Hello | 651,450 | (4,242,718) | (665,773) | 2,103,484 | (2,913,708) | (457,225) | |||||
Net income (loss) per share attributable to ordinary | |||||||||||
Basic | 1.57 | (10.75) | (1.69) | 5.05 | (7.20) | (1.13) | |||||
Diluted | 1.49 | (10.75) | (1.69) | 4.83 | (7.20) | (1.13) | |||||
Weighted average shares used in calculating net income (loss) | |||||||||||
Basic | 414,839,350 | 394,694,993 | 394,694,993 | 416,914,898 | 404,701,910 | 404,701,910 | |||||
Diluted | 449,683,596 | 394,694,993 | 394,694,993 | 452,081,642 | 404,701,910 | 404,701,910 | |||||
Hello Group Inc. | |||||||||||
Unaudited Condensed Consolidated Statement of Comprehensive Income | |||||||||||
(All amounts in thousands, except share and per share data) | |||||||||||
Three months | Year | ||||||||||
Ended December 31 | Ended December 31 | ||||||||||
2020 | 2021 | 2021 | 2020 | 2021 | 2021 | ||||||
RMB | RMB | US$ | RMB | RMB | US$ | ||||||
Net income (loss) | 651,130 | (4,244,037) | (665,980) | 2,100,392 | (2,925,704) | (459,107) | |||||
Other comprehensive loss, net of tax: | |||||||||||
Foreign currency translation adjustment | (69,010) | (7,331) | (1,150) | (141,677) | (39,161) | (6,145) | |||||
Comprehensive income (loss) | 582,120 | (4,251,368) | (667,130) | 1,958,715 | (2,964,865) | (465,252) | |||||
Less: comprehensive loss attributed to the non- | (9,059) | (3,280) | (515) | (26,004) | (16,603) | (2,605) | |||||
Comprehensive income (loss) attributable to | 591,179 | (4,248,088) | (666,615) | 1,984,719 | (2,948,262) | (462,647) | |||||
Hello Group Inc. | |||||
Unaudited Condensed Consolidated Balance Sheets | |||||
(All amounts in thousands, except share and per share data) | |||||
December 31 | December 31 | December 31 | |||
2020 | 2021 | 2021 | |||
RMB | RMB | US$ | |||
Assets | |||||
Current assets | |||||
Cash and cash equivalents | 3,363,942 | 5,570,563 | 874,143 | ||
Short-term deposits | 7,566,250 | 2,860,000 | 448,796 | ||
Restricted cash | 2,130 | - | - | ||
Accounts receivable, net of allowance for doubtful accounts of | 200,831 | 205,225 | 32,204 | ||
Prepaid expenses and other current assets | 613,696 | 775,072 | 121,626 | ||
Total current assets | 11,746,849 | 9,410,860 | 1,476,769 | ||
Long-term deposits | 5,550,000 | 7,200,000 | 1,129,837 | ||
Long-term restricted cash | - | 76,471 | 12,000 | ||
Right-of-use assets, net | 278,175 | 257,934 | 40,475 | ||
Property and equipment, net | 265,765 | 180,664 | 28,350 | ||
Intangible assets, net | 687,211 | 27,320 | 4,287 | ||
Rental deposits | 21,794 | 19,204 | 3,014 | ||
Long-term investments | 454,996 | 820,006 | 128,677 | ||
Other non-current assets | 94,868 | 83,930 | 13,170 | ||
Deferred tax assets | 32,495 | 34,849 | 5,469 | ||
Goodwill | 4,088,403 | - | - | ||
Total assets | 23,220,556 | 18,111,238 | 2,842,048 | ||
Liabilities and equity | |||||
Current liabilities | |||||
Accounts payable | 699,394 | 726,207 | 113,957 | ||
Deferred revenue | 511,617 | 539,967 | 84,733 | ||
Accrued expenses and other current liabilities | 854,835 | 911,050 | 142,964 | ||
Amount due to related parties | 19,462 | 5,016 | 787 | ||
Lease liabilities due within one year | 132,793 | 162,950 | 25,570 | ||
Income tax payable | 236,490 | 125,773 | 19,737 | ||
Deferred consideration in connection with business acquisitions | 62,149 | 44,802 | 7,030 | ||
Total current liabilities | 2,516,740 | 2,515,765 | 394,778 | ||
Deferred tax liabilities | 171,803 | 213,384 | 33,485 | ||
Convertible senior notes | 4,658,966 | 4,565,292 | 716,394 | ||
Share-based compensation liability | 875,616 | - | - | ||
Lease liabilities | 136,436 | 103,105 | 16,179 | ||
Other non-current liabilities | 25,666 | 128,095 | 20,101 | ||
Total liabilities | 8,385,227 | 7,525,641 | 1,180,937 | ||
Shareholder's equity (i) | 14,835,329 | 10,585,597 | 1,661,111 | ||
Total liabilities and shareholder's equity | 23,220,556 | 18,111,238 | 2,842,048 | ||
(i): As of December 31, 2021, the number of ordinary shares outstanding was 395,200,884. | |||||
Hello Group Inc. | |||||||||||
Unaudited Condensed Consolidated Statement of Cash Flows | |||||||||||
(All amounts in thousands, except share and per share data) | |||||||||||
Three months | Year | ||||||||||
Ended December 31 | Ended December 31 | ||||||||||
2020 | 2021 | 2021 | 2020 | 2021 | 2021 | ||||||
RMB | RMB | US$ | RMB | RMB | US$ | ||||||
Cash flows from operating activities: | |||||||||||
Net income (loss) | 651,130 | (4,244,037) | (665,980) | 2,100,392 | (2,925,704) | (459,107) | |||||
Adjustments to reconcile net income (loss) to net cash provided by | |||||||||||
Depreciation of property and equipment | 55,375 | 34,226 | 5,371 | 208,990 | 155,537 | 24,407 | |||||
Amortization of intangible assets | 37,741 | 1,279 | 201 | 157,258 | 109,062 | 17,114 | |||||
Share-based compensation | 157,584 | 126,576 | 19,862 | 678,686 | 475,771 | 74,658 | |||||
Share of loss on equity method investments | 26,319 | 14,045 | 2,204 | 42,522 | 8,084 | 1,269 | |||||
Impairment loss on goodwill and intangible assets | - | 4,397,012 | 689,987 | - | 4,397,012 | 689,987 | |||||
Gain or loss on long-term investments | (7,500) | (2,000) | (314) | (1,500) | 16,000 | 2,511 | |||||
Gain on subsidiary deconsolidation | - | - | - | (6,676) | - | - | |||||
Gain on disposal of subsidiaries | - | - | - | - | (15,526) | (2,436) | |||||
Loss or gain on disposal of property and equipment | 3 | (36) | (6) | (282) | 1,236 | 194 | |||||
Provision of losses (income) on receivable and other assets | 19,663 | (505) | (79) | 46,075 | (263) | (41) | |||||
Cash received on investment income distribution | - | - | - | 1,153 | - | - | |||||
Changes in operating assets and liabilities: | |||||||||||
Accounts receivable | 34,533 | 13,984 | 2,194 | 52,247 | (10,374) | (1,628) | |||||
Prepaid expenses and other current assets | 104,636 | 52,504 | 8,239 | (59,117) | (151,162) | (23,721) | |||||
Amount due from a related party | - | - | - | 4,382 | - | - | |||||
Rental deposits | (4,372) | 1,171 | 184 | (4,265) | (343) | (54) | |||||
Deferred tax assets | 1,535 | (338) | (53) | 4,569 | (2,354) | (369) | |||||
Other non-current assets | (166,665) | 42,125 | 6,610 | (138,484) | 34,075 | 5,347 | |||||
Accounts payable | 66,948 | 11,053 | 1,734 | (11,716) | 30,475 | 4,782 | |||||
Income tax payable | (95,341) | (39,285) | (6,165) | 82,514 | (110,716) | (17,374) | |||||
Deferred revenue | 24,740 | 9,652 | 1,515 | 8,910 | 35,106 | 5,509 | |||||
Accrued expenses and other current liabilities | 41,048 | 99,497 | 15,613 | (120,363) | 60,668 | 9,520 | |||||
Amount due to related parties | (12,406) | (9,751) | (1,530) | (10,144) | (14,447) | (2,267) | |||||
Deferred tax liability | (9,435) | 207,114 | 32,501 | (39,315) | 180,173 | 28,273 | |||||
Share-based compensation liability | - | - | - | - | (678,153) | (106,417) | |||||
Other non-current liabilities | 113,553 | (48,777) | (7,654) | 85,053 | (34,959) | (5,486) | |||||
Net cash provided by operating activities | 1,039,089 | 665,509 | 104,434 | 3,080,889 | 1,559,198 | 244,671 | |||||
Cash flows from investing activities: | |||||||||||
Purchase of property and equipment | (16,095) | (19,201) | (3,013) | (124,143) | (95,323) | (14,958) | |||||
Payment for long-term investments | (9,000) | (115,052) | (18,054) | (13,500) | (415,052) | (65,131) | |||||
Purchase of short-term deposits | (3,654,500) | (400,000) | (62,769) | (14,949,665) | (4,976,688) | (780,951) | |||||
Cash received on maturity of short-term deposits | 3,954,500 | 3,550,000 | 557,072 | 19,577,159 | 9,667,570 | 1,517,053 | |||||
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 | 880 | |||||
Cash of disposed subsidiaries | - | - | - | - | (8,750) | (1,373) | |||||
Cash received from sales of long term investment | 12,000 | 20,000 | 3,138 | 12,000 | 20,000 | 3,138 | |||||
Purchase of long-term deposits | (900,000) | (1,600,000) | (251,075) | (5,250,000) | (1,850,000) | (290,305) | |||||
Cash received on maturity of long term deposits | - | 200,000 | 31,384 | - | 200,000 | 31,384 | |||||
Other investing activities | 2 | 569 | 89 | (317) | 2,975 | 467 | |||||
Net cash (used in) provided by investing activities | (613,093) | 1,636,316 | 256,772 | (748,466) | 2,550,342 | 400,204 | |||||
Cash flows from financing activities: | |||||||||||
Deferred payment for business acquisition | - | (50) | (8) | (18,355) | (12,957) | (2,033) | |||||
Proceeds from exercise of share options | 171 | 5 | 1 | 226 | 776 | 122 | |||||
Repurchase of ordinary shares | (197,799) | - | - | (330,206) | (862,865) | (135,402) | |||||
Repurchase of subsidiary's share options | (932) | (5,070) | (796) | (25,832) | (59,120) | (9,277) | |||||
Dividends payment | - | - | - | (1,123,983) | (852,743) | (133,814) | |||||
Net cash used in financing activities | (198,560) | (5,115) | (803) | (1,498,150) | (1,786,909) | (280,404) | |||||
Effect of exchange rate changes | (37,770) | (12,972) | (2,035) | (80,944) | (41,669) | (6,538) | |||||
Net increase in cash and cash equivalents | 189,666 | 2,283,738 | 358,368 | 753,329 | 2,280,962 | 357,933 | |||||
Cash, cash equivalents and restricted cash at the beginning of period | 3,176,406 | 3,363,296 | 527,775 | 2,612,743 | 3,366,072 | 528,210 | |||||
Cash, cash equivalents and restricted cash at the end of period | 3,366,072 | 5,647,034 | 886,143 | 3,366,072 | 5,647,034 | 886,143 | |||||
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 December 31, 2020 | Ended December 31, 2021 | Ended December 31, 2021 | ||||||||||||||
GAAP | Amortization of | Share-based | Tax impacts | Non-GAAP | GAAP | Impairment | Share- | Non-GAAP | GAAP | Impairment loss | Share-based | Non-GAAP | ||||
(ii) | ||||||||||||||||
RMB | RMB | RMB | RMB | RMB | RMB | RMB | RMB | RMB | US$ | US$ | US$ | US$ | ||||
Cost of revenues | (2,042,781) | 17,694 | 4,242 | - | (2,020,845) | (2,191,520) | - | 3,393 | (2,188,127) | (343,897) | - | 532 | (343,365) | |||
Research and development | (327,295) | 2,247 | 38,515 | - | (286,533) | (316,024) | - | 36,303 | (279,721) | (49,591) | - | 5,697 | (43,894) | |||
Sales and marketing | (697,722) | 16,547 | 27,122 | - | (654,053) | (659,604) | - | 11,024 | (648,580) | (103,506) | - | 1,730 | (101,776) | |||
General and administrative | (222,191) | - | 87,705 | - | (134,486) | (165,257) | - | 75,856 | (89,401) | (25,932) | - | 11,903 | (14,029) | |||
Impairment loss on goodwill and intangible assets | - | - | - | - | - | (4,397,012) | 4,397,012 | - | - | (689,987) | 689,987 | - | - | |||
Cost and operating expenses | (3,289,989) | 36,488 | 157,584 | - | (3,095,917) | (7,729,417) | 4,397,012 | 126,576 | (3,205,829) | (1,212,913) | 689,987 | 19,862 | (503,064) | |||
Income (loss) from operations | 593,597 | 36,488 | 157,584 | - | 787,669 | (4,016,630) | 4,397,012 | 126,576 | 506,958 | (630,295) | 689,987 | 19,862 | 79,554 | |||
Net income (loss) attributable to Hello Group Inc. | 651,450 | 36,488 | 157,584 | (9,122) | 836,400 | (4,242,718) | 4,397,012 | 126,576 | 280,870 | (665,773) | 689,987 | 19,862 | 44,076 | |||
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. | |||||||||||||||||||
Year | Year | Year | ||||||||||||||||||
Ended December 31, 2020 | Ended December 31, 2021 | Ended December 31, 2021 | ||||||||||||||||||
GAAP | Amortization of | Share-based | Tax | Non-GAAP | GAAP | Impairment | Amortization of | Share-based | Tax | Non-GAAP | GAAP | Impairment | Amortization of | Share-based | Tax impacts | Non-GAAP | ||||
(ii) | (ii) | (ii) | ||||||||||||||||||
RMB | RMB | RMB | RMB | RMB | RMB | RMB | RMB | RMB | RMB | RMB | US$ | US$ | US$ | US$ | US$ | US$ | ||||
Cost of revenues | (7,976,781) | 73,740 | 18,449 | - | (7,884,592) | (8,383,431) | - | 51,853 | 17,941 | - | (8,313,637) | (1,315,543) | - | 8,137 | 2,815 | - | (1,304,591) | |||
Research and development | (1,167,677) | 9,365 | 175,870 | - | (982,442) | (1,131,781) | - | 3,660 | 139,571 | - | (988,550) | (177,601) | - | 574 | 21,902 | - | (155,125) | |||
Sales and marketing | (2,813,922) | 68,960 | 158,902 | - | (2,586,060) | (2,604,309) | - | 48,491 | 70,821 | - | (2,484,997) | (408,673) | - | 7,609 | 11,113 | - | (389,951) | |||
General and administrative | (763,150) | - | 325,465 | - | (437,685) | (624,700) | - | - | 247,438 | - | (377,262) | (98,029) | - | - | 38,828 | - | (59,201) | |||
Impairment loss on goodwill and intangible assets | - | - | - | - | - | (4,397,012) | 4,397,012 | - | - | - | - | (689,987) | 689,987 | - | - | - | - | |||
Cost and operating expenses | (12,721,530) | 152,065 | 678,686 | - | (11,890,779) | (17,141,233) | 4,397,012 | 104,004 | 475,771 | - | (12,164,446) | (2,689,833) | 689,987 | 16,320 | 74,658 | - | (1,908,868) | |||
Income (loss) from operations | 2,531,435 | 152,065 | 678,686 | - | 3,362,186 | (2,389,567) | 4,397,012 | 104,004 | 475,771 | - | 2,587,220 | (374,975) | 689,987 | 16,320 | 74,658 | - | 405,990 | |||
Net income (loss) attributable toHello Group Inc. | 2,103,484 | 152,065 | 678,686 | (38,016) | 2,896,219 | (2,913,708) | 4,397,012 | 104,004 | 475,771 | (26,002) | 2,037,077 | (457,225) | 689,987 | 16,320 | 74,658 | (4,080) | 319,660 | |||
(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 December 31, 2021 | |||||||||||
Momo | Tantan | QOOL | Unallocated[1] | Total | Total | ||||||
RMB | RMB | RMB | RMB | RMB | US$ | ||||||
Net revenues: | - | ||||||||||
Live video service | 1,947,958 | 200,827 | - | - | 2,148,785 | 337,191 | |||||
Value-added service | 1,239,351 | 236,382 | - | - | 1,475,733 | 231,575 | |||||
Mobile marketing | 25,369 | - | - | - | 25,369 | 3,981 | |||||
Mobile games | 19,294 | - | - | - | 19,294 | 3,028 | |||||
Other services | 3,667 | - | 1,381 | - | 5,048 | 792 | |||||
Total net revenues | 3,235,639 | 437,209 | 1,381 | - | 3,674,229 | 576,567 | |||||
Cost and expenses (iii): | |||||||||||
Cost of revenues | (1,962,718) | (228,290) | (512) | - | (2,191,520) | (343,897) | |||||
Research and development | (233,512) | (82,512) | - | - | (316,024) | (49,591) | |||||
Sales and marketing | (377,672) | (281,534) | (398) | - | (659,604) | (103,506) | |||||
General and administrative | (147,957) | (10,362) | (6,938) | - | (165,257) | (25,932) | |||||
Impairment loss on goodwill and intangible assets | - | - | - | (4,397,012) | (4,397,012) | (689,987) | |||||
Total cost and expenses | (2,721,859) | (602,698) | (7,848) | (4,397,012) | (7,729,417) | (1,212,913) | |||||
Other operating income | 35,532 | 3,023 | 3 | - | 38,558 | 6,051 | |||||
Income (loss) from operations | 549,312 | (162,466) | (6,464) | (4,397,012) | (4,016,630) | (630,295) | |||||
Interest income | 99,399 | 139 | 35 | - | 99,573 | 15,625 | |||||
Interest expense | (18,444) | - | - | - | (18,444) | (2,894) | |||||
Other gain or loss, net | 2,000 | - | - | - | 2,000 | 314 | |||||
Income (loss) before income tax and share of income on | 632,267 | (162,327) | (6,429) | (4,397,012) | (3,933,501) | (617,250) | |||||
Income tax (expenses) benefits | (311,479) | 14,988 | - | - | (296,491) | (46,526) | |||||
Income (loss) before share of income on equity method | 320,788 | (147,339) | (6,429) | (4,397,012) | (4,229,992) | (663,776) | |||||
Share of loss on equity method investments | (14,045) | - | - | - | (14,045) | (2,204) | |||||
Net income (loss) | 306,743 | (147,339) | (6,429) | (4,397,012) | (4,244,037) | (665,980) | |||||
(iii) Share-based compensation was allocated in cost of revenues and operating expenses as follows: | |||||||||||
Three months | |||||||||||
Ended December 31, 2021 | |||||||||||
Momo | Tantan | QOOL | Total | Total | |||||||
RMB | RMB | RMB | RMB | US$ | |||||||
Cost of revenues | 2,729 | 664 | - | 3,393 | 532 | ||||||
Research and development | 19,569 | 16,734 | - | 36,303 | 5,697 | ||||||
Sales and marketing | 10,997 | 27 | - | 11,024 | 1,730 | ||||||
General and administrative | 75,808 | 48 | - | 75,856 | 11,903 | ||||||
Total cost and expenses | 109,103 | 17,473 | - | 126,576 | 19,862 | ||||||
[1] The impairment loss on goodwill and intangible assets is presented as an unallocated item in the segment information because our management does not consider this as part of the segment operating performance measure. | |||||||||||
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 December 31, 2021 | |||||||||||
Momo | Tantan | QOOL | Unallocated | Total | Total | ||||||
RMB | RMB | RMB | RMB | RMB | US$ | ||||||
Income (loss) from operations | 549,312 | (162,466) | (6,464) | (4,397,012) | (4,016,630) | (630,295) | |||||
Share-based compensation | 109,103 | 17,473 | - | - | 126,576 | 19,862 | |||||
Impairment loss on goodwill and intangible assets | - | - | - | 4,397,012 | 4,397,012 | 689,987 | |||||
Non-GAAP income (loss) from operations | 658,415 | (144,993) | (6,464) | - | 506,958 | 79,554 | |||||
Net income (loss) | 306,743 | (147,339) | (6,429) | (4,397,012) | (4,244,037) | (665,980) | |||||
Share-based compensation | 109,103 | 17,473 | - | - | 126,576 | 19,862 | |||||
Impairment loss on goodwill and intangible assets | - | - | - | 4,397,012 | 4,397,012 | 689,987 | |||||
Non-GAAP net income (loss) | 415,846 | (129,866) | (6,429) | - | 279,551 | 43,869 | |||||
Hello Group Inc. | |||||||||
Unaudited Condensed Segment Report | |||||||||
(All amounts in thousands, except share and per share data) | |||||||||
Three months | |||||||||
Ended December 31, 2020 | |||||||||
Momo | Tantan | QOOL | Total | Total | |||||
RMB | RMB | RMB | RMB | US$[2] | |||||
Net revenues: | |||||||||
Live video service | 1,923,544 | 404,331 | - | 2,327,875 | 356,762 | ||||
Value-added service | 1,065,062 | 336,207 | - | 1,401,269 | 214,754 | ||||
Mobile marketing | 52,663 | - | - | 52,663 | 8,071 | ||||
Mobile games | 7,334 | - | - | 7,334 | 1,124 | ||||
Other services | 2,743 | - | 3,317 | 6,060 | 929 | ||||
Total net revenues | 3,051,346 | 740,538 | 3,317 | 3,795,201 | 581,640 | ||||
Cost and expenses (iv): | |||||||||
Cost of revenues | (1,676,071) | (365,350) | (1,360) | (2,042,781) | (313,070) | ||||
Research and development | (243,555) | (83,740) | - | (327,295) | (50,160) | ||||
Sales and marketing | (361,115) | (336,558) | (49) | (697,722) | (106,931) | ||||
General and administrative | (202,831) | (11,891) | (7,469) | (222,191) | (34,052) | ||||
Total cost and expenses | (2,483,572) | (797,539) | (8,878) | (3,289,989) | (504,213) | ||||
Other operating income | 83,110 | 3,945 | 1,330 | 88,385 | 13,546 | ||||
Income (loss) from operations | 650,884 | (53,056) | (4,231) | 593,597 | 90,973 | ||||
Interest income | 100,347 | 486 | 47 | 100,880 | 15,461 | ||||
Interest expense | (19,047) | - | - | (19,047) | (2,919) | ||||
Other gain or loss, net | 7,500 | - | - | 7,500 | 1,149 | ||||
Income (loss) before income tax and share of income on equity | 739,684 | (52,570) | (4,184) | 682,930 | 104,664 | ||||
Income tax (expenses) benefits | (7,565) | 2,084 | - | (5,481) | (840) | ||||
Income (loss) before share of income on equity method | 732,119 | (50,486) | (4,184) | 677,449 | 103,824 | ||||
Share of loss on equity method investments | (26,319) | - | - | (26,319) | (4,034) | ||||
Net income (loss) | 705,800 | (50,486) | (4,184) | 651,130 | 99,790 | ||||
(iv) Share-based compensation was allocated in cost of revenues and operating expenses as follows: | |||||||||
Three months | |||||||||
Ended December 31, 2020 | |||||||||
Momo | Tantan | QOOL | Total | Total | |||||
RMB | RMB | RMB | RMB | US$ | |||||
Cost of revenues | 2,844 | 1,398 | - | 4,242 | 650 | ||||
Research and development | 31,946 | 6,569 | - | 38,515 | 5,903 | ||||
Sales and marketing | 21,452 | 5,670 | - | 27,122 | 4,157 | ||||
General and administrative | 84,706 | 644 | 2,355 | 87,705 | 13,441 | ||||
Total cost and expenses | 140,948 | 14,281 | 2,355 | 157,584 | 24,151 | ||||
[2] All translations from RMB to U.S. dollars are made at a rate of RMB6.525 to US | |||||||||
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 December 31, 2020 | |||||||||
Momo | Tantan | QOOL | Total | Total | |||||
RMB | RMB | RMB | RMB | US$ | |||||
Income (loss) from operations | 650,884 | (53,056) | (4,231) | 593,597 | 90,973 | ||||
Share-based compensation | 140,948 | 14,281 | 2,355 | 157,584 | 24,151 | ||||
Amortization of intangible assets from | - | 36,488 | - | 36,488 | 5,592 | ||||
Non-GAAP income (loss) from operations | 791,832 | (2,287) | (1,876) | 787,669 | 120,716 | ||||
Net income (loss) | 705,800 | (50,486) | (4,184) | 651,130 | 99,790 | ||||
Share-based compensation | 140,948 | 14,281 | 2,355 | 157,584 | 24,151 | ||||
Amortization of intangible assets from | - | 36,488 | - | 36,488 | 5,592 | ||||
Tax impacts | - | (9,122) | - | (9,122) | (1,398) | ||||
Non-GAAP net income (loss) | 846,748 | (8,839) | (1,829) | 836,080 | 128,135 | ||||
Hello Group Inc. | |||||||||||
Unaudited Condensed Segment Report | |||||||||||
(All amounts in thousands, except share and per share data) | |||||||||||
Year | |||||||||||
Ended December 31, 2021 | |||||||||||
Momo | Tantan | QOOL | Unallocated | Total | Total | ||||||
RMB | RMB | RMB | RMB | RMB | US$ | ||||||
Net revenues: | - | ||||||||||
Live video service | 7,475,809 | 903,136 | - | - | 8,378,945 | 1,314,839 | |||||
Value-added service | 4,845,744 | 1,126,048 | - | - | 5,971,792 | 937,104 | |||||
Mobile marketing | 159,010 | - | - | - | 159,010 | 24,952 | |||||
Mobile games | 47,712 | - | - | - | 47,712 | 7,487 | |||||
Other services | 12,930 | - | 5,330 | - | 18,260 | 2,866 | |||||
Total net revenues | 12,541,205 | 2,029,184 | 5,330 | - | 14,575,719 | 2,287,248 | |||||
Cost and expenses (v): | |||||||||||
Cost of revenues | (7,301,048) | (1,044,852) | (37,531) | - | (8,383,431) | (1,315,543) | |||||
Research and development | (828,688) | (303,093) | - | - | (1,131,781) | (177,601) | |||||
Sales and marketing | (1,420,130) | (1,180,146) | (4,033) | - | (2,604,309) | (408,673) | |||||
General and administrative | (619,922) | 18,401 | (23,179) | - | (624,700) | (98,029) | |||||
Impairment loss on goodwill and intangible assets | - | - | - | (4,397,012) | (4,397,012) | (689,987) | |||||
Total cost and expenses | (10,169,788) | (2,509,690) | (64,743) | (4,397,012) | (17,141,233) | (2,689,833) | |||||
Other operating income | 138,884 | 37,029 | 34 | - | 175,947 | 27,610 | |||||
Income (loss) from operations | 2,510,301 | (443,477) | (59,379) | (4,397,012) | (2,389,567) | (374,975) | |||||
Interest income | 383,028 | 1,091 | 160 | - | 384,279 | 60,302 | |||||
Interest expense | (73,776) | - | - | - | (73,776) | (11,577) | |||||
Other gain or loss, net | (16,000) | - | - | - | (16,000) | (2,511) | |||||
Income (loss) before income tax and share of income on | 2,803,553 | (442,386) | (59,219) | (4,397,012) | (2,095,064) | (328,761) | |||||
Income tax (expenses) benefits | (844,987) | 22,431 | - | - | (822,556) | (129,077) | |||||
Income (loss) before share of income on equity method | 1,958,566 | (419,955) | (59,219) | (4,397,012) | (2,917,620) | (457,838) | |||||
Share of loss on equity method investments | (8,084) | - | - | - | (8,084) | (1,269) | |||||
Net income (loss) | 1,950,482 | (419,955) | (59,219) | (4,397,012) | (2,925,704) | (459,107) | |||||
(v) Share-based compensation was allocated in cost of revenues and operating expenses as follows: | |||||||||||
Year | |||||||||||
Ended December 31, 2021 | |||||||||||
Momo | Tantan | QOOL | Total | Total | |||||||
RMB | RMB | RMB | RMB | US$ | |||||||
Cost of revenues | 10,541 | 7,400 | - | 17,941 | 2,815 | ||||||
Research and development | 97,828 | 41,743 | - | 139,571 | 21,902 | ||||||
Sales and marketing | 48,154 | 22,667 | - | 70,821 | 11,113 | ||||||
General and administrative | 314,216 | -66,778 | - | 247,438 | 38,828 | ||||||
Total cost and expenses | 470,739 | 5,032 | - | 475,771 | 74,658 | ||||||
Hello Group Inc. | |||||||||||
Reconciliation of GAAP and NON-GAAP Results of Unaudited Segment Report | |||||||||||
(All amounts in thousands, except share and per share data) | |||||||||||
Year | |||||||||||
Ended December 31, 2021 | |||||||||||
Momo | Tantan | QOOL | Unallocated | Total | Total | ||||||
RMB | RMB | RMB | RMB | RMB | US$ | ||||||
Income (loss) from operations | 2,510,301 | (443,477) | (59,379) | (4,397,012) | (2,389,567) | (374,975) | |||||
Share-based compensation | 470,739 | 5,032 | - | - | 475,771 | 74,658 | |||||
Impairment loss on goodwill and intangible | - | - | - | 4,397,012 | 4,397,012 | 689,987 | |||||
Amortization of intangible assets from | - | 104,004 | - | - | 104,004 | 16,320 | |||||
Non-GAAP income (loss) from operations | 2,981,040 | (334,441) | (59,379) | - | 2,587,220 | 405,990 | |||||
Net income (loss) | 1,950,482 | (419,955) | (59,219) | (4,397,012) | (2,925,704) | (459,107) | |||||
Share-based compensation | 470,739 | 5,032 | - | - | 475,771 | 74,658 | |||||
Impairment loss on goodwill and intangible | - | - | - | 4,397,012 | 4,397,012 | 689,987 | |||||
Amortization of intangible assets from | - | 104,004 | - | - | 104,004 | 16,320 | |||||
Tax impacts | - | (26,002) | - | - | (26,002) | (4,080) | |||||
Non-GAAP net income (loss) | 2,421,221 | (336,921) | (59,219) | - | 2,025,081 | 317,778 | |||||
Hello Group Inc. | |||||||||
Unaudited Condensed Segment Report | |||||||||
(All amounts in thousands, except share and per share data) | |||||||||
Year | |||||||||
Ended December 31, 2020 | |||||||||
Momo | Tantan | QOOL | Total | Total | |||||
RMB | RMB | RMB | RMB | US$ | |||||
Net revenues: | |||||||||
Live video service | 8,638,810 | 998,769 | - | 9,637,579 | 1,477,024 | ||||
Value-added service | 3,742,637 | 1,369,545 | - | 5,112,182 | 783,476 | ||||
Mobile marketing | 198,197 | - | - | 198,197 | 30,375 | ||||
Mobile games | 39,564 | - | - | 39,564 | 6,063 | ||||
Other services | 11,911 | - | 24,755 | 36,666 | 5,620 | ||||
Total net revenues | 12,631,119 | 2,368,314 | 24,755 | 15,024,188 | 2,302,558 | ||||
Cost and expenses (vi): | |||||||||
Cost of revenues | (6,865,836) | (1,088,816) | (22,129) | (7,976,781) | (1,222,495) | ||||
Research and development | (844,826) | (322,851) | (1,167,677) | (178,954) | |||||
Sales and marketing | (1,454,123) | (1,359,709) | (90) | (2,813,922) | (431,252) | ||||
General and administrative | (664,458) | (73,019) | (25,673) | (763,150) | (116,958) | ||||
Total cost and expenses | (9,829,243) | (2,844,395) | (47,892) | (12,721,530) | (1,949,659) | ||||
Other operating income | 223,312 | 3,945 | 1,520 | 228,777 | 35,062 | ||||
Income (loss) from operations | 3,025,188 | (472,136) | (21,617) | 2,531,435 | 387,961 | ||||
Interest income | 440,878 | 3,353 | 240 | 444,471 | 68,118 | ||||
Interest expense | (78,872) | - | - | (78,872) | (12,088) | ||||
Other gain or loss, net | 1,500 | - | - | 1,500 | 230 | ||||
Income (loss) before income tax and share of | 3,388,694 | (468,783) | (21,377) | 2,898,534 | 444,221 | ||||
Income tax (expenses) benefits | (770,333) | 14,713 | - | (755,620) | (115,804) | ||||
Income (loss) before share of income on equity | 2,618,361 | (454,070) | (21,377) | 2,142,914 | 328,417 | ||||
Share of loss on equity method investments | (42,522) | - | - | (42,522) | (6,517) | ||||
Net income (loss) | 2,575,839 | (454,070) | (21,377) | 2,100,392 | 321,900 | ||||
(vi) Share-based compensation was allocated in cost of revenues and operating expenses as follows: | |||||||||
Year | |||||||||
Ended December 31, 2020 | |||||||||
Momo | Tantan | QOOL | Total | Total | |||||
RMB | RMB | RMB | RMB | US$ | |||||
Cost of revenues | 15,189 | 3,260 | - | 18,449 | 2,827 | ||||
Research and development | 127,714 | 48,156 | - | 175,870 | 26,953 | ||||
Sales and marketing | 142,908 | 15,994 | - | 158,902 | 24,353 | ||||
General and administrative | 292,356 | 22,882 | 10,227 | 325,465 | 49,880 | ||||
Total cost and expenses | 578,167 | 90,292 | 10,227 | 678,686 | 104,013 | ||||
Hello Group Inc. | |||||||||
Reconciliation of GAAP and NON-GAAP Results of Unaudited Segment Report | |||||||||
(All amounts in thousands, except share and per share data) | |||||||||
Year | |||||||||
Ended December 31, 2020 | |||||||||
Momo | Tantan | QOOL | Total | Total | |||||
RMB | RMB | RMB | RMB | US$ | |||||
Income (loss) from operations | 3,025,188 | (472,136) | (21,617) | 2,531,435 | 387,961 | ||||
Share-based compensation | 578,167 | 90,292 | 10,227 | 678,686 | 104,013 | ||||
Amortization of intangible assets from business | - | 152,065 | - | 152,065 | 23,305 | ||||
Non-GAAP income (loss) from operations | 3,603,355 | (229,779) | (11,390) | 3,362,186 | 515,279 | ||||
Net income (loss) | 2,575,839 | (454,070) | (21,377) | 2,100,392 | 321,900 | ||||
Share-based compensation | 578,167 | 90,292 | 10,227 | 678,686 | 104,013 | ||||
Amortization of intangible assets from business | - | 152,065 | - | 152,065 | 23,305 | ||||
Tax impacts | - | (38,016) | - | (38,016) | (5,826) | ||||
Non-GAAP net income (loss) | 3,154,006 | (249,729) | (11,150) | 2,893,127 | 443,392 | ||||
View original content:https://www.prnewswire.com/news-releases/hello-group-inc-announces-unaudited-financial-results-for-the-fourth-quarter-and-fiscal-year-2021-301509804.html
SOURCE Hello Group Inc.
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