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Match Group sees strong fourth quarter with revenues up 24% over 2020
By Devika Patel
Knoxville, Tenn., Feb. 2 – Match Group, Inc. saw total revenue increase 24% year-over-year to $806 million last quarter.
“We had a strong Q4 with total revenue of $806 million, up 24% year-over-year,” chief operating officer and chief financial officer Gary Swidler said on the company’s fourth quarter and year ended Dec. 31, 2021 earnings conference call on Wednesday.
Cash and cash equivalents were $815,384,000 as of Dec. 31, 2021, compared to $739,164,000 as of Dec. 31, 2020.
Long-term debt, less current maturities, was $3,829,421,000 as of Dec. 31, 2021, compared to $3,840,930,000 as of Dec. 31, 2020.
Current maturities of long-term debt were $99,927,000 as of Dec. 31, 2021, compared to $0 as of Dec. 31, 2020.
On Sept. 22, Match Group priced $500 million of senior notes (Ba3/BB) due Oct. 1, 2031 at par to yield 3 5/8% in a drive-by.
The yield printed 12.5 basis points inside of the 3¾% to 4% yield talk. Initial guidance was in the low 4% area.
J.P. Morgan Securities LLC was the lead.
The issuing entity, Match Group Holding II, LLC, a wholly owned subsidiary of the Dallas-based online dating service company, earmarked the proceeds to help fund the repurchase of its 0.875% exchangeable senior notes due 2022 and for general corporate purposes.
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