Q1 2025 Xunlei Ltd Earnings Call Transcript
Key Points
- Xunlei Ltd (XNET) reported a year-over-year revenue growth of 10.5% to $88.8 million in Q1 2025.
- Subscription revenue increased by 7.7% year-over-year to $35.7 million, with a 5% growth in the total number of subscribers.
- Overseas audio live streaming revenue saw a significant increase of 79.2% year-over-year, contributing to a 66% growth in live streaming and other services revenue.
- The company is actively developing AI-driven applications, which could unlock new growth opportunities.
- Xunlei Ltd (XNET) maintains a strong capital structure with cash, cash equivalents, and short-term investments totaling $274.6 million as of March 31, 2025.
- Cloud computing revenue declined by 18% year-over-year due to intensified competition and pricing pressures.
- Gross profit margin decreased to 49.7% from 53.3% in the same period of 2024, primarily due to the cloud computing business.
- Operating loss was $1.9 million, compared to an operating income of $4 million in the same period of 2024.
- Net loss was $0.9 million, a decline from a net income of $3.6 million in the same period of 2024.
- Sales and marketing expenses increased significantly to $18.5 million, representing 17.5% of total revenues, up from 12.5% in the same period of 2024.
Welcome, ladies and gentlemen, and thank you for the patience. You've joined Xunlei's first-quarter 2025 earnings conference call. (Operator Instructions) Please be advised that today's conference is being recorded. I would now like to turn the call over to the host, Investor Relations Manager, Ms. Luhan Tang. Please go ahead.
Good morning, everyone, and thank you for joining Xunlei's Q1 2025 earnings conference call. With me today are Eric Zhou, CFO; and (inaudible), Vice President of Finance. Our IR website has our earnings press release to supplement our prepared remarks during the call. Today's agenda includes a prepared opening remark from Chairman and CEO, Mr. Jinbo Li, on Q1 operational highlights; followed by CFO, Eric Zhou's presentation of financial results, details of Q1 2025, and the revenue guidance for the Q2 2025, before we open up the floor to your questions in the Q&A session. Please note that this call is recorded and can be replayed on our investor relations website at ir.xunlei.com.
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