Foxit Software(SH:688095)2025-10-29 11:30Financial Performance - The company achieved operating revenue of CNY 253.69 million in Q3 2025, representing a year-on-year increase of 47.80%[4] - For the first three quarters, the total operating revenue reached CNY 676.29 million, up 32.81% compared to the same period last year[4] - The net profit attributable to shareholders was CNY 6.28 million in Q3 2025, a decline of 96.37% year-on-year, primarily due to previous non-recurring gains[9] - Subscription revenue for the first three quarters was CNY 398.58 million, reflecting a 62.87% increase year-on-year, accounting for 61.28% of the original business segment's revenue[16] - Channel revenue for the first three quarters amounted to CNY 288.28 million, up 48.21% year-on-year, representing 44.32% of the original business segment's revenue[19] - The annual recurring revenue (ARR) from subscription business reached CNY 551.05 million, a growth of 50.57% year-on-year[14] - Revenue from Foxit International increased by 29.61% year-on-year, while revenue from Foxit China grew by 63.67%[24] - North America revenue grew by nearly 25% year-on-year, with a quarterly increase of 35.27% in Q3; Europe saw a 32.31% year-on-year increase, with a 39.57% quarterly increase; and Asia-Pacific revenue grew by 54.84% year-on-year, with a 39.75% quarterly increase[24] - The domestic market revenue in China experienced a significant growth of 63.67% year-on-year, with a remarkable quarterly increase of 143.03% in Q3[24] - Subscription revenue accounted for 61.28% of total revenue, reflecting a year-on-year growth of 32.81%[29] - The annual recurring revenue (ARR) from subscription business reached 551.05 million RMB, a 33.98% increase compared to the previous year[29] - Revenue from channel sales increased by 48.21% year-on-year, contributing to 44.32% of total revenue[29] Cash Flow and Investments - The company reported a net cash flow from operating activities of CNY 608.77 million for the year-to-date, showing significant improvement from a net outflow of CNY 105.55 million in the same period last year[10] - The net cash flow from operating activities for the original business segment was 56.46 million RMB, showing significant improvement compared to the previous year[30] - The company reported a net loss of 21.86 million RMB after excluding non-recurring gains and losses, narrowing the loss by approximately 77.16% compared to the previous year[30] - Net cash flow from investment activities was $165.13 million, a slight increase from $162.15 million year-over-year[47] - Total cash inflow from financing activities amounted to $228.20 million, compared to $8.83 million in the previous period[47] - Net cash flow from financing activities reached $183.40 million, a significant improvement from a negative $49.23 million last year[47] - The net increase in cash and cash equivalents was $358.11 million, compared to $1.52 million in the previous period[47] - The ending balance of cash and cash equivalents stood at $1.12 billion, up from $713.49 million year-over-year[47] Research and Development - The company’s R&D investment totaled CNY 568.25 million, accounting for 22.40% of operating revenue, a decrease of 18.47 percentage points year-on-year[2] - Research and development expenses were ¥174.49 million, slightly down from ¥178.89 million in the previous year[44] Shareholder Information - The total number of common shareholders at the end of the reporting period is 8,672[32] - The largest shareholder, Xiong Yuqian, holds 36,410,668 shares, representing 39.82% of the total shares[32] - The company has a repurchase account holding 1,738,819 shares, accounting for 1.90% of the total share capital[33] - The company has not disclosed any known relationships or concerted actions among the top shareholders[33] - The company has not experienced any changes in the lending/borrowing of shares among the top shareholders during the reporting period[34] Incentive Plans - The 2022 restricted stock incentive plan has been approved, with 568,098 shares eligible for vesting for 159 participants[35] - The 2024 restricted stock incentive plan has also been approved, with 801,047 shares eligible for vesting for 185 participants[36] - The company is implementing a long-term incentive mechanism to attract and retain talent through stock options and employee stock ownership plans[35] - The company plans to distribute cash assets from the employee stock ownership plan after the lock-up period ends[37] - The company has completed the registration of shares for the first vesting period of the 2022 and 2024 incentive plans[37] - The number of incentive recipients for the first batch of the third phase in 2022 was 154, with a total of 489,789 shares allocated[38] - The company approved the cancellation of 80,000 repurchased shares, adjusting their use from employee stock plans to capital reduction[38] Assets and Liabilities - Total assets increased by 20.60% year-on-year, reaching CNY 3.72 billion at the end of the reporting period[3] - As of September 30, 2025, total current assets amounted to CNY 2,515,271,238.05, an increase from CNY 2,290,476,289.30 at the end of 2024[40] - The total non-current assets as of September 30, 2025, were CNY 1,200,232,149.05, compared to CNY 790,439,907.13 at the end of 2024[41] - Total assets reached CNY 3,715,503,387.10 as of September 30, 2025, up from CNY 3,080,916,196.43 at the end of 2024[42] - Current liabilities totaled CNY 740,904,867.77 as of September 30, 2025, compared to CNY 500,726,772.16 at the end of 2024[42] - Total liabilities amounted to CNY 968,947,661.90 as of September 30, 2025, an increase from CNY 537,546,864.39 at the end of 2024[42] - The company's total equity as of September 30, 2025, was CNY 2,746,555,725.20, compared to CNY 2,543,369,332.04 at the end of 2024[42] Operational Challenges - Operating profit turned negative at -¥6.08 million, compared to a profit of ¥34.46 million in the previous year[45] - Net profit for the first three quarters of 2025 was -¥18.42 million, a significant decline from a profit of ¥33.49 million in 2024[45] - Basic earnings per share decreased to ¥0.0157 from ¥0.4354 year-over-year[46] - The company reported a total comprehensive loss of -¥21.45 million, compared to a comprehensive income of ¥30.53 million in the same period of 2024[46] - The company experienced a significant increase in sales expenses, which rose to ¥302.79 million from ¥275.66 million, reflecting a growth of 9.8%[44]