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Sep 30
Xunlei Q3 2025 Earnings Report
Xunlei reported a significant increase in revenue and net income for Q3 2025, driven by gains from a long-term investment.
Key Takeaways
Xunlei delivered strong Q3 2025 results with total revenue of $126.4M and net income of $550.1M, largely due to a $545.8M unrealized gain from its investment in Arashi Vision Inc.
Total revenue grew to $126.4M, up from $80.1M a year ago.
Net income surged to $550.1M, driven by a $545.8M gain from Arashi Vision Inc.
Operating income reached $2.7M, reversing a loss in the prior year.
Subscription business added over 1 million subscribers YoY.
Xunlei
Xunlei
Xunlei Revenue by Segment
Revenue by Segment
Subscription Revenue
CapyFin.comLive-streaming & IVAS Revenue
CapyFin.comCloud Computing Revenue
CapyFin.com Forward Guidance
Xunlei expects Q4 2025 revenue to range between $131M and $139M, representing a ~6.8% QoQ growth at the midpoint.
Positive Outlook
- Projected revenue growth of ~6.8% QoQ.
- Strong momentum across major business lines.
- Solid cash position to support growth.
- Investment gains enhance strategic flexibility.
- Increased ARPU and subscriber base trends.
Challenges Ahead
- Lower gross profit margin YoY.
- Marketing expenses continue to rise.
- Cloud computing margin under pressure.
- Dependence on investment gains for net income.
- Higher revenue-sharing costs in live-streaming.
Revenue & Expenses
Visualization of income flow from segment revenue to net income