Financial Performance - Total revenues for the third quarter of 2025 reached US$126.4 million, marking a 57.7% year-over-year increase, driven by strong performance across all major business operations [3][5] - Subscription revenues amounted to US$40.7 million, reflecting a 22.3% year-over-year increase, attributed to a rise in the number of subscribers to 6.56 million from 5.51 million a year earlier and an increase in average revenue per subscriber [6][8] - Revenues from live-streaming and other services were US$49.1 million, representing a significant 127.1% year-over-year increase, primarily due to growth in overseas audio live-streaming and advertising businesses [7][8] - Cloud computing revenues reached US$36.6 million, a 44.9% year-over-year increase, driven by heightened demand from major customers [9][8] Profitability Metrics - Gross profit for the quarter was US$60.5 million, a 49.6% year-over-year increase, with a gross profit margin of 47.9%, down from 50.5% in the same period of 2024 [12][8] - Net income surged to US$550.1 million compared to US$4.4 million in the same quarter of 2024, largely due to unrealized pre-tax gains from investments [19][8] - Non-GAAP net income was reported at US$5.3 million, slightly up from US$4.9 million in the same period of 2024 [19][8] Expenses and Investments - Research and development expenses totaled US$21.0 million, accounting for 16.6% of total revenues, an increase from US$17.7 million or 22.1% of total revenues in the same period of 2024 [13][8] - Sales and marketing expenses rose to US$25.8 million, representing 20.4% of total revenues, up from US$11.5 million or 14.3% of total revenues in the same period of 2024, driven by increased marketing efforts [14][8] - General and administrative expenses decreased to US$10.9 million, or 8.6% of total revenues, down from US$11.4 million or 14.2% of total revenues in the same period of 2024 [15][8] Cash Position and Future Guidance - As of September 30, 2025, the company had cash, cash equivalents, and short-term investments totaling US$284.1 million, an increase from US$275.6 million as of June 30, 2025 [21][8] - For the fourth quarter of 2025, the company estimates total revenues to be between US$131 million and US$139 million, indicating a quarter-over-quarter increase of approximately 6.8% [22][8]