MOMO (MOMO) financial statements

· Market cap $697M

MOMO reported revenue of 10.4B CNY in fiscal 2025, up 12.1% a year over 9 years.

Net income was 804M CNY and the operating margin 13.1%, against 26.3% in 2016.

Free cash flow was 691M CNY, and the company returned 750M CNY in net buybacks.

The diluted share count fell 17% over the period (buybacks).

Revenue and free cash flow

Fiscal years, $ billions (CNY).

051015202016201720182019202020212022202320242025RevenueFree cash flow
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Income statement

Fiscal years, in CNY, from MOMO's 10-K filings with the SEC.

Fiscal year2016201720182019202020212022202320242025
Revenue3.7B CNY8.9B CNY13.4B CNY17.0B CNY15.0B CNY14.6B CNY12.7B CNY12.0B CNY10.6B CNY10.4B CNY
Cost of revenue1.6B CNY4.4B CNY7.2B CNY8.5B CNY8.0B CNY8.4B CNY7.4B CNY7.0B CNY6.4B CNY6.4B CNY
Gross profit2.1B CNY4.5B CNY6.2B CNY8.5B CNY7.0B CNY6.2B CNY5.3B CNY5.0B CNY4.1B CNY3.9B CNY
Research and development209M CNY346M CNY761M CNY1.1B CNY1.2B CNY1.1B CNY————
Selling, general and admin907M CNY1.9B CNY2.5B CNY4.2B CNY3.6B CNY3.2B CNY2.7B CNY1.9B CNY1.8B CNY1.8B CNY
Operating income975M CNY2.4B CNY3.3B CNY3.6B CNY2.5B CNY-2.4B CNY1.6B CNY2.3B CNY1.5B CNY1.4B CNY
Interest expense——57M CNY79M CNY79M CNY74M CNY84M CNY62M CNY128M CNY72M CNY
Pre-tax income990M CNY2.5B CNY3.4B CNY3.9B CNY2.9B CNY-2.1B CNY2.0B CNY2.7B CNY1.8B CNY1.7B CNY
Income tax35M CNY445M CNY700M CNY884M CNY756M CNY823M CNY562M CNY630M CNY845M CNY843M CNY
Net income979M CNY2.1B CNY2.8B CNY3.0B CNY2.1B CNY-2.9B CNY1.5B CNY2.0B CNY1.0B CNY804M CNY
EPS (diluted)2.41 CNY5.17 CNY6.59 CNY6.76 CNY4.83 CNY-7.20 CNY3.65 CNY4.92 CNY2.78 CNY2.37 CNY
Diluted shares407M415M433M451M452M405M424M402M374M339M
Gross margin56.3%50.8%46.4%50.1%46.9%42.5%41.6%41.5%39.0%37.8%
Operating margin26.3%27.4%24.4%20.9%16.8%-16.4%12.8%19.2%14.5%13.1%
Net margin26.4%24.2%21.0%17.5%14.0%-20.0%11.7%16.3%9.8%7.8%

Balance sheet

Fiscal years, in CNY, from MOMO's 10-K filings with the SEC.

Fiscal year2016201720182019202020212022202320242025
Cash and short-term investments—4.5B CNY2.5B CNY2.6B CNY3.4B CNY5.6B CNY5.3B CNY5.6B CNY4.1B CNY5.4B CNY
Receivables—258M CNY720M CNY265M CNY201M CNY205M CNY189M CNY202M CNY192M CNY246M CNY
Total current assets—7.7B CNY12.6B CNY15.8B CNY11.7B CNY9.4B CNY11.7B CNY7.8B CNY12.0B CNY9.7B CNY
Property, plant and equipment—259M CNY388M CNY346M CNY266M CNY181M CNY173M CNY659M CNY897M CNY1.4B CNY
Goodwill—22M CNY4.3B CNY4.4B CNY4.1B CNY0 CNY0 CNY0 CNY136M CNY596M CNY
Total assets—8.5B CNY19.0B CNY22.5B CNY23.2B CNY18.1B CNY15.8B CNY16.2B CNY18.4B CNY13.8B CNY
Total current liabilities—1.7B CNY2.7B CNY2.6B CNY2.5B CNY2.5B CNY4.7B CNY2.1B CNY6.4B CNY2.1B CNY
Long-term debt——————0 CNY1.9B CNY0 CNY3M CNY
Total liabilities—1.7B CNY7.9B CNY8.8B CNY8.4B CNY7.5B CNY4.9B CNY4.2B CNY7.0B CNY2.7B CNY
Shareholders' equity4.4B CNY6.8B CNY11.0B CNY13.7B CNY14.8B CNY10.6B CNY10.9B CNY12.0B CNY11.4B CNY11.1B CNY
Net debt—-4.5B CNY-2.5B CNY-2.6B CNY-3.4B CNY-5.6B CNY-5.0B CNY-3.7B CNY-2.2B CNY-5.3B CNY

Cash flow

Fiscal years, in CNY, from MOMO's 10-K filings with the SEC.

Fiscal year2016201720182019202020212022202320242025
Operating cash flow1.5B CNY2.9B CNY3.3B CNY5.4B CNY3.1B CNY1.6B CNY1.2B CNY2.3B CNY1.6B CNY1.2B CNY
Capital spending47M CNY219M CNY243M CNY187M CNY124M CNY95M CNY80M CNY576M CNY286M CNY493M CNY
Free cash flow1.4B CNY2.7B CNY3.1B CNY5.3B CNY3.0B CNY1.5B CNY1.1B CNY1.7B CNY1.4B CNY691M CNY
Stock-based compensation211M CNY335M CNY581M CNY1.4B CNY679M CNY476M CNY401M CNY267M CNY193M CNY163M CNY
Share buybacks (net)————-330M CNY-863M CNY-392M CNY-212M CNY-1.2B CNY-750M CNY
Net borrowing—————0 CNY0 CNY2.2B CNY0 CNY0 CNY
Free cash flow margin38.3%30.0%23.0%30.9%19.7%10.0%9.0%14.2%12.8%6.7%
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Questions

What was MOMO's revenue in 2025?

10.4B CNY in fiscal 2025, from its 10-K filing.

How much free cash flow does MOMO generate?

691M CNY in fiscal 2025 (operating cash flow minus capital spending).

From MOMO's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.