Bilibili Inc. Announces Third Quarter 2025 Financial Results

Core Insights - Bilibili Inc. reported strong user growth and financial progress in Q3 2025, with all core user metrics reaching all-time highs, including DAUs of 117 million, monthly active users of 376 million, and monthly paying users of 35 million, reflecting a year-over-year increase of 9%, 8%, and 17% respectively [3][7] - The company achieved total revenues of RMB 7.69 billion (approximately US$1.08 billion), marking a 5% increase from the same period in 2024, with advertising revenues growing by 23% [4][5][7] - Bilibili's non-GAAP net profit surged by 233% year-over-year to RMB 786 million (approximately US$110.5 million), with a non-GAAP net profit margin of 10.2%, significantly up from 3.2% in Q3 2024 [3][12][13] User Metrics - Daily Active Users (DAUs) increased by 9% year-over-year to 117 million [3][7] - Monthly Active Users rose by 8% to 376 million [3] - Monthly Paying Users grew by 17% to 35 million [3] Financial Performance - Total net revenues reached RMB 7.69 billion (US$1.08 billion), a 5% increase year-over-year [4][7] - Advertising revenues were RMB 2.57 billion (US$361 million), reflecting a 23% increase from the previous year [5][7] - Gross profit increased by 11% year-over-year to RMB 2.82 billion (US$395.8 million), with a gross profit margin of 36.7% [7][9] Cost Management - Cost of revenues was RMB 4.87 billion (US$683.7 million), up 2% year-over-year, primarily due to higher revenue sharing costs [8][9] - Total operating expenses decreased by 6% year-over-year to RMB 2.46 billion (US$346.1 million) [9] Profitability - The company reported a net profit of RMB 469.4 million (US$65.9 million), compared to a net loss of RMB 79.8 million in Q3 2024 [12][14] - Adjusted net profit was RMB 786.3 million (US$110.5 million), a 233% increase year-over-year [13][14] Cash Flow and Share Repurchase - Net cash provided by operating activities was RMB 2.02 billion (US$283.2 million) [15] - As of September 30, 2025, the company had repurchased 6.4 million shares for a total cost of US$116.4 million under its US$200 million share repurchase program [16]