DouYu(US:DOYU)2025-11-20 11:04Financial Performance - Total net revenues for Q3 2025 were RMB899.1 million (US$126.3 million), a decrease of 15.4% from RMB1,063.1 million in Q3 2024[4] - Gross profit increased by 90.9% year-over-year to RMB116.1 million (US$16.3 million), with a gross margin of 12.9%, up from 5.7% in the same period last year[15] - Income from operations reached RMB11.9 million (US$1.7 million), compared to a loss of RMB94.2 million in Q3 2024[17] - Net income grew 232.8% year-over-year to RMB11.3 million (US$1.6 million), up from RMB3.4 million in Q3 2024[18] - Adjusted net income (non-GAAP) was RMB23.1 million (US$3.3 million), compared to an adjusted net loss of RMB39.8 million in the same period last year[19] User Engagement - Average mobile MAUs decreased by 27.5% year-over-year to 30.5 million, down from 42.1 million in Q3 2024[13] - Livestreaming revenues fell by 30.6% to RMB522.1 million (US$73.3 million) due to a decline in paying users and average revenue per paying user[7] - Innovative business revenues increased by 21.2% to RMB377.0 million (US$53.0 million), driven by growth in the voice-based social networking service[8] Cash and Assets - Cash and cash equivalents as of September 30, 2025, were RMB2,221.6 million (US$312.1 million), down from RMB4,467.8 million as of December 31, 2024[21] - As of December 31, 2024, total assets amounted to RMB 5,446,333, an increase from RMB 3,106,417 as of September 30, 2025, representing a growth of approximately 75.4%[29] - Cash and cash equivalents stood at RMB 1,017,148 as of December 31, 2024, compared to RMB 1,551,938 as of September 30, 2025, showing a decrease of 34.4%[29] Expenses and Liabilities - Research and development expenses decreased by 37.8% to RMB26.9 million (US$3.8 million) from RMB43.2 million in Q3 2024, reflecting cost optimization efforts[16] - Total current liabilities increased to RMB 1,232,021 as of December 31, 2024, up from RMB 1,100,491 as of September 30, 2025, indicating a rise of approximately 11.9%[29] Shareholder Equity and Deficits - The company’s accumulated deficit as of December 31, 2024, was RMB (3,791,817), slightly improved from RMB (3,822,271) as of September 30, 2025[31] - Total shareholders' equity increased to RMB 4,210,089 as of December 31, 2024, from RMB 2,003,972 as of September 30, 2025, marking a growth of approximately 109.5%[31] Interest and Impairment - The company reported interest income of RMB 19,200 for the three months ended September 30, 2025, down from RMB 60,840 in the previous quarter, a decline of 68.3%[33] - The total impairment losses and fair value adjustments on investments for the nine months ended September 30, 2025, amounted to RMB 59,215 thousand, a significant increase from RMB 43,299 thousand in the same period of 2024[35] Adjusted Income and Losses - The company reported a significant increase in adjusted net loss income per ADS (non-GAAP) for the three months ended September 30, 2025, at RMB 0.77 (approximately US$ 0.11), compared to RMB 0.84 in the previous quarter[35] - The company experienced a net loss attributable to DouYu of RMB 30,454 thousand for the nine months ended September 30, 2025, compared to a net loss of RMB 133,718 thousand in the same period of 2024[35] - The company’s adjusted net loss income attributable to DouYu for the three months ended September 30, 2025, was RMB 23,141 thousand, reflecting a decrease from RMB 25,278 thousand in the previous quarter[35]