Bilibili Inc. Q3 2025 Earnings Recap

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.