Xunlei Limited

Xunlei Limited Earnings Recaps

XNET Communication Services 3 recaps
Next earnings: August 13, 2026 (estimated) · full calendar
Q1 2026 Jun 1, 2026

Xunlei’s shares rose 9.6% following Q1 results, driven by better-than-expected revenue growth fueled by strong subscription and overseas live streaming businesses.

Key takeaways
  • Total revenue surged 54.1% year-over-year to $98.6 million, reflecting strong demand in core consumer-facing segments.
  • Subscription revenue increased 26.2% year-over-year to $45 million, supported by product enhancements and expanded partnerships.
  • Overseas audio live streaming revenue nearly doubled, up 89.3% year-over-year to $53.6 million, driven by growth in emerging markets like Southeast Asia and the Middle East.
  • Gross margin declined to 58.5% from 61.9% a year ago, reflecting a higher mix of lower-margin live streaming revenue and increased revenue sharing expenses.
  • Corporate restructuring excluded cloud computing business from results, sharpening focus on consumer operations.
Full recap
Q3 2025 Nov 13, 2025

Xunlei Limited reported strong Q3 2025 results with total revenues of $126.4 million, a 57.7% year-over-year increase, bolstered by significant growth in subscription and live streaming services.

Key takeaways
  • Subscription revenue reached $40.7 million, marking a 22.3% increase year-over-year, driven by a rise in premium subscribers.
  • Live streaming services surged 127.1% year-over-year to $49.1 million, boosted by expanding international operations and strategic acquisitions.
  • Cloud computing revenues increased 44.9% year-over-year to $36.6 million, reflecting strong demand from enterprise customers.
  • A substantial gain of $545.8 million from the IPO of Arashi Vision Inc. significantly enhanced the company’s financial position and strategic flexibility.
Full recap
Q2 2025 Aug 14, 2025

Xunlei reported strong Q2 2025 results with a 30.6% year-over-year revenue increase, driven by robust growth in subscription services and the recent acquisition of Hupu.

Key takeaways
  • Total revenues reached $104 million, supported by all core business segments, especially live streaming with an 85.5% growth.
  • Subscription revenue rose to $36.4 million, with a record 6.4 million subscribers and an increasing share of premium subscription users, now at 81%.
  • The cloud computing segment also performed well, generating $30 million, marking a 13.6% year-over-year increase due to rising demand from major clients.
  • A successful investment in Arashi Vision Inc. yielded approximately $720 million in realized pretax capital gains, enhancing financial flexibility for future growth.
Full recap