Globenewswireยท2025-05-20 10:00Core Insights - Bilibili Inc. reported strong financial results for Q1 2025, with total net revenues reaching RMB 7.0 billion (US$ 965.1 million), a 24% increase year-over-year [4][6] - The company experienced significant growth in user engagement, with daily active users (DAUs) at 107 million and monthly active users (MAUs) at 368 million, indicating a maturing user base with increased spending power [3][6] - Bilibili's gross profit rose by 58% year-over-year to RMB 2.54 billion (US$ 349.9 million), with a gross profit margin of 36.3%, up from 28.3% in the same period last year [6][9] Financial Performance - Total net revenues were RMB 7.00 billion (US$ 965.1 million), representing a 24% increase from Q1 2024 [4][6] - Revenue from value-added services (VAS) was RMB 2.81 billion (US$ 386.9 million), an 11% increase year-over-year [4] - Advertising revenues reached RMB 2.00 billion (US$ 275.3 million), a 20% increase year-over-year, driven by performance-based advertising [5][6] - Mobile games revenues surged to RMB 1.73 billion (US$ 238.6 million), marking a 76% increase year-over-year, primarily due to the success of the game "San Guo: Mou Ding Tian Xia" [7][6] Profitability and Margins - Gross profit increased to RMB 2.54 billion (US$ 349.9 million), with a gross profit margin of 36.3%, reflecting improved monetization efficiency [6][9] - The company reported an adjusted net profit of RMB 361.5 million (US$ 49.8 million), compared to an adjusted net loss of RMB 455.9 million in Q1 2024 [14][6] - Operating cash flow was RMB 1.30 billion (US$ 179.4 million), significantly higher than RMB 637.7 million in the same period last year [16][6] User Engagement Metrics - Average daily time spent per user reached a record of 108 minutes, indicating high user engagement [3] - Monthly paying users hit an all-time high of 32 million, showcasing the growing spending power of the user base [3] Cost Structure - Cost of revenues was RMB 4.46 billion (US$ 615.2 million), a 10% increase year-over-year, primarily due to higher revenue-sharing costs [8] - Total operating expenses were RMB 2.52 billion (US$ 347.8 million), reflecting a 4% increase from the same period in 2024 [9] Strategic Outlook - The company aims to continue unlocking the potential of its community by enhancing commercial solutions and focusing on profitable growth [3][6] - Bilibili is positioned to capture emerging opportunities in the video platform market, leveraging its unique content and community engagement [3]