Bilibili Income Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Revenue	28,381	26,832	22,528	21,899	19,384
Other Revenue	1,966	-	-	-	-
Revenue	30,348	26,832	22,528	21,899	19,384
Revenue Growth (YoY)	13.11%	19.10%	2.87%	12.98%	61.54%
Cost of Revenue	19,234	18,058	17,086	18,050	15,341
Gross Profit	11,114	8,774	5,442	3,849	4,043
Selling, General & Admin	6,456	6,433	6,039	7,442	7,632
Research & Development	3,533	3,685	4,467	4,765	2,840
Operating Expenses	9,990	10,118	10,506	12,207	10,472
Operating Income	1,124	-1,344	-5,064	-8,358	-6,429
Interest Expense	-150.57	-89.19	-164.93	-250.92	-155.47
Interest & Investment Income	431.85	434.98	542.47	281.05	70.37
Currency Exchange Gain (Loss)	-80.17	-68.72	-35.58	-19.75	-15.5
Other Non Operating Income (Expenses)	124.82	175.41	132.64	157.94	10.41
EBT Excluding Unusual Items	1,450	-891.49	-4,590	-8,190	-6,519
Gain (Loss) on Sale of Investments	-242.29	-470.08	-435.64	-532.49	-194.18
Other Unusual Items	-0	-38.63	292.21	1,319	-
Pretax Income	1,208	-1,400	-4,733	-7,404	-6,713
Income Tax Expense	17.15	-36.54	78.71	104.15	95.29
Earnings From Continuing Operations	1,191	-1,364	-4,812	-7,508	-6,809
Minority Interest in Earnings	2.59	16.85	-10.61	10.64	19.51
Net Income	1,194	-1,347	-4,822	-7,497	-6,789
Net Income to Common	1,194	-1,347	-4,822	-7,497	-6,789
Shares Outstanding (Basic)	419	416	413	395	380
Shares Outstanding (Diluted)	444	416	413	395	380
Shares Change (YoY)	6.62%	0.79%	4.65%	3.94%	9.86%
EPS (Basic)	2.85	-3.23	-11.67	-18.99	-17.87
EPS (Diluted)	2.74	-3.23	-11.67	-18.99	-17.87
Free Cash Flow	-	5,549	84.73	-4,672	-3,612
Free Cash Flow Per Share	-	13.32	0.20	-11.83	-9.51
Gross Margin	36.62%	32.70%	24.16%	17.58%	20.86%
Operating Margin	3.71%	-5.01%	-22.48%	-38.17%	-33.17%
Profit Margin	3.93%	-5.02%	-21.41%	-34.23%	-35.02%
Free Cash Flow Margin	-	20.68%	0.38%	-21.33%	-18.64%
EBITDA	3,451	982.77	-2,334	-5,021	-3,987
EBITDA Margin	11.37%	3.66%	-10.36%	-22.93%	-20.57%
D&A For EBITDA	2,327	2,327	2,730	3,337	2,442
EBIT	1,124	-1,344	-5,064	-8,358	-6,429
EBIT Margin	3.71%	-5.01%	-22.48%	-38.16%	-33.17%
Effective Tax Rate	1.42%	-	-	-	-
Revenue as Reported	30,348	-	-	-	-

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.