In his review for Sputnikmusic, Raul Stanciu proclaimed "Icon" as the "most swag [track that] Twice can offer".

On January 6, 2022, the Korea Music Content Association (KMCA) certified Formula of Love: O+T=<3 2× Platinum after it sold more than 500,000 units in South Korea.TWICE on The Meaning of Their Album 'Formula of Love: O+T=♡' and How 6 Years Together Made Them a Family".

Momo explained the meaning behind the lyrics, saying "it is a sad story about wanting to make the day you break up with someone the best, perfect day. On October 1, 2021, TWICE revealed at the end of the music video for " The Feels" that they would release their third full-length album in November. You can change your choices at any time by visiting Cookie preferences, as described in the Cookie notice. In an interview with the Associated Press, Jihyo revealed that the death of a houseplant was her inspiration for writing the song, and it was written from the plant's perspective, "seeing its owner walking in and out of the room and ignoring it".The seventh track, "Last Waltz", is a Latin pop-inspired song that includes an interpolation of Tchaikovsky's " Waltz of the Flowers". Their latest album Formula of Love: O+T = <3, was released earlier this year to critical acclaim, and quickly became a fan favorite with millions of streams worldwide. Like Ooh-Ahh" • " Cheer Up" • " TT" • " Knock Knock" • " Signal" • " Likey" • " Heart Shaker" • What Is Love? It is followed by English track "Moonlight", a disco-pop song that incorporates " funky" orchestration reminiscent of the 1980s. Jihyo noted that the song is about "asking for truthfulness and sincerity from a person who is full of his/herself and doesn't realize what pure love is".

The song's lyrics are about playful pushing and pulling in a relationship "to bring the other person closer". Formula of Love: O+T=˂3 is the third full-length studio album by South Korean girl group, JYP Entertainment’s TWICE, set to be released on November 12, 2021. In its first week, MRC Data reported that the album had sold 66,000 album-equivalent units in the United States. Formula of Love: O+T=<3 received widespread acclaim [29] from music critics who complimented its cohesiveness, consistency, and diversity.TWICE Release First English-Language Single 'The Feels,' Dance the Night Away in Video's Epic Prom". Raj compared it to Twice's song "Scandal" ( Taste of Love), for having "the same calculated and dangerous allure".