LEASES

12 Months Ended

Dec. 31, 2025

NOTE 12—LEASES

The Company leases office space, data center facilities, and equipment used in connection with its

operations under various operating leases, many of which contain escalation clauses.

ROU assets represent the Company’s right to use the underlying assets for the lease term and lease

liabilities represent the present value of the Company’s obligation to make payments arising from leases. ROU

assets and related lease liabilities are based on the present value of fixed lease payments over the lease term

using the Company’s incremental borrowing rates on the lease commencement date. The Company combines

the lease and non-lease components of lease payments in determining ROU assets and related lease liabilities. If

the lease includes one or more options to extend the term of the lease, the renewal option is considered in the

lease term if it is reasonably certain the Company will exercise the options. Lease expense is recognized on a

straight-line basis over the term of the lease. Leases with an initial term of twelve months or less (“short-term

leases”) are not recorded on the accompanying consolidated balance sheet.

Variable lease payments consist primarily of common area maintenance, utilities, and taxes, which are not

included in the recognition of ROU assets and related lease liabilities. The Company’s lease agreements do not

contain any material residual value guarantees or material restrictive covenants.


Leases	Balance Sheet Classification	December 31, 2025	December 31, 2024

		(In thousands)
Assets:
Right-of-use assets	Other non-current assets	$101,932	$86,417

Liabilities:
Current lease liabilities	Accrued expenses and other current liabilities	$16,644	$19,213
Long-term lease liabilities	Other long-term liabilities	101,668	84,583
Total lease liabilities		$118,312	$103,796


Lease Cost	Income Statement Classification	Year Ended December 31, 2025	Year Ended December 31, 2024

		(In thousands)
Fixed lease cost	Cost of revenue	$2,004	$1,875
Fixed lease cost	General and administrative expense	21,399	22,032
Total fixed lease cost(a)		23,403	23,907

Variable lease cost	Cost of revenue	637	441
Variable lease cost	General and administrative expense	2,952	3,368
Total variable lease cost		3,589	3,809
Net lease cost		$26,992	$27,716

______________________

(a)Includes approximately $0.5 million and $0.6 million of short-term lease cost for the years ended

December 31, 2025 and December 31, 2024, respectively.

Maturities of lease liabilities as of December 31, 2025(a):


		(In thousands)
2026		$24,452
2027		20,067
2028		19,862
2029		20,242
2030		16,911
After 2030		42,475
Total		144,009
Less: Interest		(21,842)
Less: Tenant improvement receivables		(3,855)
Present value of lease liabilities		$118,312

______________________

(a)Operating lease payments exclude $29.3 million of legally binding minimum lease payments for leases

signed but not yet commenced.

The following are the weighted average assumptions used for lease term and discount rate:


	Year Ended December 31, 2025	Year Ended December 31, 2024

	(In thousands)
Other information:
Right-of-use assets obtained in exchange for lease liabilities	$33,362	$11,420
Cash paid for amounts included in the measurement of lease liabilities	$24,741	$26,082

Match Group, Inc. 10-K