A tense-looking back-and-forth between Emma Stone and Margaret Qualley at the 2025 Oscars has been decoded.

Video of the actresses in what has been described by many as a “heated” exchange backstage at this year’s Academy Awards captured by “Access Hollywood” went viral quickly after the ceremony on March 2. The original video has been viewed more than 11 million times and reshared by countless others.

In the clip, Stone, 36, and Qualley, 30, appear to “square off.” Aggressively stepping forward toward the “La La Land” actress, Qualley looks angry and confrontational while Stone timidly steps back.

But all is not as it seems, according to lip reader Nicola Hickling, who has revealed what the “Substance” star allegedly told Stone.

“It looks like Margaret is about to square up in this scene, giving Emma her mean girl look,” Hickling told the Daily Mail.

“Don’t worry, they are not fighting though. They do this all the time,” she explained.

Hickling continued: “In fact, Margaret says to Emma, ‘Yeah and I am about to freak out.’”

Emma Stone attends the 97th annual Academy Awards. David Fisher/Shutterstock

Margaret Qualley attends the 97th annual Oscars. FilmMagic

Qualley’s husband, music producer Jack Antonoff, 40, was also with her, standing off to the side.

Fans flooded the comments section of the post, sharing their thoughts on the exchange.

“For a moment i thought Margaret was ready to square up,” one person wrote on TikTok.

Others, referring to Qualley’s character in “The Substance,” said, “Sue was taking over!”

Qualley (left) and Stone departing the ”Kinds of Kindness” red carpet at the 77th annual Cannes Film Festival in Cannes, France, on May 17, 2024. Luca Carlino/NurPhoto/Shutterstock

“She was straight pressin her. Idc what no one says,” one commenter added.

Another person shared, “Omg with no sound on it looks like there gonna fight so bad like Margaret kept walking towards Emma and looked like she was mad saying REALLY REALLY and other lady looked like she was tryna stop them.”

“Why is Emma backing away from her like that lol,” someone else commented.

Actor Willem Dafoe (from left), Stone, Greek director Yorgos Lanthimos and Qualley attend Searchlight’s New York premiere of “Kinds of Kindness” on June 20, 2024. AFP via Getty Images

Stone (left) reacts next to Qualley after the screening of the film “Kinds of Kindness” at the 77th annual Cannes Film Festival in France on May 17, 2024. AFP via Getty Images

Though many believed the actresses were actually beefing, others pointed out — as Hickling did — that Qualley and Stone have a history of play-fighting when out at industry events.

“Just so you all know, they do this at almost every awards show they go to. It’s their inside joke,” a TikTok user wrote in the comments. “Do some research before commenting on what you do not know people.”

“[T]hat’s just how they play lol,” one person said. “Theres a whole other video of them at an event doing the same thing but in that video it’s obvious they’re joking.”

Elsewhere at the Oscars, Stone was also seen apologizing to Qualley for repeatedly stepping on the long train of her glamorous black dress.

Last May, the actresses were seen getting in each other’s faces on the Cannes Film Festival red carpet, jokingly arguing before laughing and breaking character.

Stone and Qualley acted alongside one another in the 2024 movie “Kinds of Kindness” and in 2023’s “Poor Things.”