Bilibili Inc. Earnings Recaps
Q3 2025
Nov 13, 2025
Solid growth and improved profitability were key highlights for Bilibili in Q3 2025, as the company leveraged its engaged community and quality content to enhance commercial value.
Key takeaways
- Daily active users (DAUs) reached 117 million, up 9% year over year, while monthly active users (MAUs) grew 8% to 376 million.
- Total net revenues increased 5% year over year to RMB 7.7 billion, with gross profit rising 11% and gross margin expanding to 36.7%.
- Non-GAAP net profit surged 233% year over year, reflecting successful cost management and a shift toward higher-margin revenue streams.
- Monthly paying users rose 17% year over year to a record 35 million, driven by increased engagement with gaming and value-added services.
- The launch of the successful game "Escape from Duckhoff, Haori Yakufu" reinforces Bilibili's capabilities in game development, catering to a growing market demand.
Q2 2025
Aug 21, 2025
Bilibili demonstrated robust performance in Q2 2025, achieving a 20% year-over-year revenue increase, driven by significant growth in its gaming and advertising segments.
Key takeaways
- Total net revenues reached RMB 7.3 billion, supported by a 60% increase in gaming revenues and a 20% rise in advertising revenues.
- Gross profit soared by 46% year-over-year, with gross margin expanding to 36.5%.
- Daily active users (DAUs) grew to 109 million, reflecting a 7% increase, alongside a 9% rise in monthly paying users to 31 million.
- Engagement metrics improved, with average daily time spent increasing to 105 minutes, driven by high-quality content offerings.
- The successful Bilibili World event attracted over 400,000 participants, showcasing the platform's strong community engagement and brand vitality.