BILIBILI(09626)2025-05-20 10:05Financial Performance - Total net revenue for Q1 2025 reached RMB 7.003 billion (USD 965 million), a year-on-year increase of 24%[11] - Gross profit amounted to RMB 2.539 billion (USD 350 million), representing a 58% year-on-year increase, with a gross margin of 36.3% compared to 28.3% in the same period of 2024[11] - Adjusted net profit for Q1 2025 was RMB 362 million (USD 49.8 million), compared to an adjusted net loss of RMB 456 million in the same period of 2024[11] - Operating profit was RMB 15 million (USD 2.1 million), a significant recovery from an operating loss of RMB 819 million in the same period last year[15] - Adjusted operating profit was RMB 342 million (USD 47.2 million), compared to an adjusted operating loss of RMB 512 million in 2024[15] - Net loss narrowed by 99% to RMB 107 million (USD 15 million) year-over-year[16] - The company reported a net loss of RMB 764.63 million for the three months ended March 31, 2024, compared to a net profit of RMB 88.93 million in the same period of the previous year[28] - The adjusted net loss attributable to Bilibili Inc. shareholders for the three months ended March 31, 2024, was RMB 439,796, with an expected improvement to a profit of RMB 363,088 by March 31, 2025[37] User Engagement - Daily active users (DAUs) reached 106.7 million, while monthly active users (MAUs) hit a record high of 368 million[11] - The average age of users reached 26 years, indicating a maturing user base with increasing purchasing power[11] - The company plans to continue expanding its product and service offerings to enhance user engagement and retention[27] Revenue Breakdown - Advertising revenue was RMB 1.998 billion (USD 275 million), up 20% year-on-year, driven by strong growth in performance-based advertising[12] - Mobile gaming revenue surged to RMB 1.731 billion (USD 239 million), a 76% increase year-on-year, primarily due to the strong performance of the exclusive licensed game "Three Kingdoms: Strategize the World"[13] - Revenue from value-added services was RMB 2.807 billion (USD 387 million), an 11% increase year-on-year, mainly due to growth in live streaming and other value-added services[12] Operating Expenses - Total operating expenses amounted to RMB 2.524 billion (USD 348 million), an increase of 4% compared to the same period in 2024[14] - Sales and marketing expenses were RMB 1.167 billion (USD 161 million), up 26% year-over-year, primarily due to a partnership with CCTV for exclusive live streaming during the 2025 Spring Festival Gala[14] - Research and development expenses decreased by 13% to RMB 841 million (USD 116 million) due to improved R&D efficiency[14] Cash Flow and Assets - Operating cash flow for the quarter was RMB 1.302 billion (USD 179 million), significantly up from RMB 638 million in Q1 2024[11] - Cash generated from operating activities was RMB 1.302 billion (USD 179 million), up from RMB 638 million in the same period last year[16] - As of March 31, 2025, cash and cash equivalents, along with short-term investments, totaled RMB 17.397 billion (USD 2.397 billion)[16] - The company's cash and cash equivalents decreased from RMB 10,249,382 on December 31, 2024, to RMB 9,601,900 by March 31, 2025, a decline of 6.34%[32] Future Outlook - The company aims to continue expanding its business and community through efficient and sustainable operations, focusing on profit growth and long-term shareholder value[12] - Future guidance indicates expected total net revenue of RMB 7,734.16 million for the year ending December 31, 2024[28] - The company is focusing on improving its operational efficiency and managing costs effectively to mitigate losses[27] Shareholder Information - The weighted average number of ordinary shares outstanding was 415,274,340 for the three months ended March 31, 2024[28] - The weighted average number of ordinary shares outstanding (basic) increased from 415,274,340 for the three months ended March 31, 2024, to 420,086,397 by March 31, 2025[37]