NOTE 9—EARNINGS PER SHARE
The following table sets forth the computation of the basic and diluted earnings per share attributable to
Match Group shareholders:
Years Ended December 31,
2025
2024
2023
Basic
Diluted
Basic
Diluted
Basic
Diluted
(In thousands, except per share data)
Numerator
Net income
$613,461
$613,461
$551,313
$551,313
$651,472
$651,472
Net (income) loss attributable to
noncontrolling interests
(15)
(15)
(37)
(37)
67
67
Impact from subsidiaries' dilutive
securities
(7)
(24)
(81)
Dilutive impact of Exchangeable
Notes, net of income tax(a)
10,155
12,691
12,684
Net income attributable to Match
Group, Inc. shareholders
$613,446
$623,594
$551,276
$563,943
$651,539
$664,142
Denominator
Weighted average basic shares
outstanding
242,676
242,676
260,299
260,299
275,773
275,773
Dilutive securities(b)(c)
6,612
5,367
4,114
Dilutive shares from Exchangeable Notes,
if-converted(a)
13,187
13,397
13,397
Denominator for earnings per share—
weighted average shares(b)(c)
242,676
262,475
260,299
279,063
275,773
293,284
Earnings per share:
Earnings per share attributable to Match
Group, Inc. shareholders
$2.53
$2.38
$2.12
$2.02
$2.36
$2.26
______________________
(a)The Company uses the if-converted method for calculating the dilutive impact of the outstanding
Exchangeable Notes. For the years ended December 31, 2025, 2024 and 2023, the Company adjusted
net income attributable to Match Group, Inc. shareholders for the cash interest expense, net of income
taxes, incurred on the 2026 and 2030 Exchangeable Notes. Dilutive shares were also included for the
same series of Exchangeable Notes.
(b)If the effect is dilutive, weighted average common shares outstanding include the incremental shares
that would be issued upon the assumed exercise of stock options, warrants, and subsidiary
denominated equity and vesting of restricted stock units. For the years ended December 31, 2025,
2024, and 2023, 15.5 million, 17.3 million, and 15.9 million potentially dilutive securities, respectively,
are excluded from the calculation of diluted earnings per share because their inclusion would have been
anti-dilutive.
(c)Market-based awards and performance-based stock units (“PSUs”) are considered contingently issuable
shares. Shares issuable upon exercise or vesting of market-based awards and PSUs are included in the
denominator for earnings per share if (i) the applicable market or performance condition(s) has been
met and (ii) the inclusion of the market-based awards and PSUs is dilutive for the respective reporting
periods. For the years ended December 31, 2025, 2024, and 2023, 2.7 million, 3.0 million, and 3.2
million market-based awards and PSUs, respectively, were excluded from the calculation of diluted
earnings per share because the market or performance conditions had not been met.

Historical Timeline

Fiscal YearFiled
2025Feb 26, 2026Showing above
2024Feb 27, 2025
2023Feb 23, 2024
2022Feb 24, 2023
2021Feb 24, 2022
2020Feb 25, 2021
2019Feb 28, 2020
2017Mar 1, 2018
2016Feb 28, 2017
2015Feb 29, 2016

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.