Xunlei(US:XNET) Zhong Jin Zai Xian·2025-11-13 10:18Core Insights - The company reported a total revenue of $126.4 million for Q3, representing a year-over-year growth of 57.7% driven by increased revenue from its main business segments [2][3] - The net profit based on GAAP was $550.1 million, a significant increase from $4.4 million in the same period last year, primarily due to the fair value change of its investment in YingShi Innovation [2][3] Revenue Breakdown - Membership services revenue reached $40.7 million, up 22.3% year-over-year, attributed to an increase in membership numbers and average revenue per member [3] - Live streaming and other services revenue surged to $49.1 million, a 127.1% increase, driven by growth in overseas voice live streaming and advertising businesses [3] - Cloud computing services revenue was $36.6 million, reflecting a 44.9% year-over-year growth due to increased demand from major clients [3] Cost and Investment - Research and development expenses increased to $21 million, accounting for 16.6% of total revenue, compared to $17.7 million in the same quarter last year [4] - Sales and marketing expenses rose to $25.8 million, representing 20.4% of total revenue, up from $11.5 million or 14.3% of total revenue in the same period last year, driven by increased marketing efforts in membership and overseas voice live streaming [4] Cash Position and Future Outlook - As of September 30, 2025, the company held $284.1 million in cash and short-term investments, an increase from $275.6 million as of June 30, 2025, primarily due to increased operating cash flow [5] - The company expects total revenue for Q4 2025 to be in the range of $131 million to $139 million, indicating a projected quarter-over-quarter growth of approximately 6.8% [5]