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Xunlei (XNET) investor relations material
Xunlei Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 2025 delivered strong growth, with total revenues reaching $126.4 million, up 57.7% year-over-year, surpassing expectations and exceeding guidance due to strong performance across all business segments.
Net income surged to $550.1 million, primarily driven by a $545.8 million gain from fair value changes in a 7.8% equity stake in Arashi Vision Inc. after its IPO.
Non-GAAP net income was $5.3 million, up from $4.9 million year-over-year, reflecting core operational improvements.
Growth was driven by enhanced user experience, deeper community engagement, and expansion of overseas audio live streaming operations.
Financial highlights
Total revenues: $126.4 million, up 57.7% year-over-year.
Net income: $550.1 million, compared to $4.4 million in Q3 2024, mainly due to investment gains.
Non-GAAP net income: $5.3 million, up from $4.9 million year-over-year.
Diluted income per ADS: $8.60; non-GAAP diluted earnings per ADS: $0.09.
Cash, cash equivalents, and short-term investments: $284.1 million as of September 30, 2025.
Outlook and guidance
Q4 2025 revenue guidance: $131 million to $139 million, midpoint implies a 6.8% sequential increase.
Management emphasizes ongoing innovation and operational resilience to drive long-term growth.
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