Xunlei Earnings Call Transcripts
Fiscal Year 2025
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Q4 and FY2025 saw robust double-digit growth across all core segments, with total revenue up 70% YoY in Q4 and 42.5% for the year. Strategic divestitures and acquisitions fueled expansion, while a large Q4 net loss stemmed from investment fair value changes.
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Q3 2025 saw revenues surge 57.7% year-over-year to $126.4 million, with net income boosted by a $545.8 million investment gain. Strong growth in subscriptions, live streaming, and cloud computing was offset by higher costs, while Q4 revenue is guided up 6.8% sequentially.
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Q2 2025 saw 30.6% revenue growth to $104M, driven by strong gains in all segments and the HuPu acquisition. Net income surged to $727.4M, mainly from Arashi Vision Inc.'s IPO gains. Q3 revenue is guided at $116–124M.
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Q1 2025 revenue rose 10.5% year-over-year to $88.8 million, led by strong subscription and overseas live streaming growth, while cloud computing declined 18%. Net loss was $0.9 million, and Q2 revenue is guided at $91–$96 million.
Fiscal Year 2024
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Q4 2024 saw revenue growth above guidance, led by record subscription and overseas live streaming gains, while cloud computing revenue declined sharply, prompting a $20.7M goodwill impairment. FY 2024 revenue fell 11.1% YoY, but gross margin improved to 51.7%.
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Q3 2024 saw continued profitability amid a 4.9% revenue decline, with strong subscription growth offsetting cloud and live streaming headwinds. Gross margin improved to 50.5%, and management guided Q4 revenues of $77–82 million.
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Q2 2024 saw a 23.7% revenue decline year-over-year, mainly from live streaming downsizing, but subscription revenue grew 10.8% and gross margin improved to 51.1%. Q3 revenue is guided at $81–86 million, with continued focus on innovation and overseas expansion.