Bilibili Inc. Announces Third Quarter 2024 Financial Results
Bilibili reported strong Q3 2024 financial results with total net revenues reaching RMB7.31 billion (US$1.04 billion), up 26% year-over-year. Notable highlights include mobile games revenue increasing 84% to RMB1.82 billion and advertising revenue growing 28% to RMB2.09 billion. The company achieved its first non-GAAP net profit of RMB235.9 million, compared to a loss in the previous year. Daily active users reached 107.3 million, with average daily time spent increasing to 106 minutes. Gross profit margin improved significantly to 34.9% from 25.0% year-over-year. The company also announced a new share repurchase program of up to US$200 million.
Bilibili ha riportato risultati finanziari solidi per il terzo trimestre del 2024, con ricavi netti totali che hanno raggiunto 7,31 miliardi di RMB (1,04 miliardi di dollari USA), in aumento del 26% rispetto all'anno precedente. I punti salienti includono un aumento del 84% dei ricavi dai giochi mobili, che hanno raggiunto 1,82 miliardi di RMB, e una crescita del 28% dei ricavi pubblicitari, che hanno toccato 2,09 miliardi di RMB. L'azienda ha registrato il suo primo utile netto non-GAAP di 235,9 milioni di RMB, rispetto a una perdita nell'anno precedente. Gli utenti attivi giornalieri sono arrivati a 107,3 milioni, con il tempo medio giornaliero trascorso che è aumentato a 106 minuti. Il margine di profitto lordo è migliorato significativamente, passando dal 25,0% al 34,9% rispetto all'anno precedente. L'azienda ha inoltre annunciato un nuovo programma di riacquisto di azioni per un massimo di 200 milioni di dollari USA.
Bilibili reportó resultados financieros sólidos para el tercer trimestre de 2024, con ingresos netos totales alcanzando 7,31 mil millones de RMB (1,04 mil millones de dólares estadounidenses), un aumento del 26% interanual. Los aspectos más destacados incluyen un aumento del 84% en los ingresos por juegos móviles, alcanzando 1,82 mil millones de RMB y un crecimiento del 28% en los ingresos por publicidad, alcanzando 2,09 mil millones de RMB. La compañía logró su primer beneficio neto no-GAAP de 235,9 millones de RMB, en comparación con una pérdida en el año anterior. Los usuarios activos diarios alcanzaron los 107,3 millones, con el tiempo promedio diario dedicado aumentando a 106 minutos. El margen de beneficio bruto mejoró significativamente al 34,9%, frente al 25,0% del año anterior. La compañía también anunció un nuevo programa de recompra de acciones de hasta 200 millones de dólares estadounidenses.
Bilibili는 2024년 3분기 강력한 재무 결과를 보고하며 총 순매출이 73억 1천만 RMB (10억 4천만 달러)에 이르렀으며, 이는 전년 대비 26% 증가한 수치입니다. 모바일 게임 수익이 84% 증가하여 18억 2천만 RMB에 달했으며, 광고 수익도 28% 증가하여 20억 9천만 RMB로 성장했습니다. 회사는 전년의 손실과 비교하여 최초로 비GAAP 기준 순이익 2억 3천5백 90만 RMB를 달성했습니다. 일일 활성 사용자 수는 1억 7천3백만에 도달하였고, 평균 일일 사용 시간은 106분으로 증가했습니다. 총 이익률은 전년 대비 25.0%에서 34.9%로 크게 개선되었습니다. 회사는 또한 최대 2억 달러의 주식 환매 프로그램을 발표했습니다.
Bilibili a annoncé des résultats financiers solides pour le troisième trimestre 2024, avec des revenus nets totaux atteignant 7,31 milliards de RMB (1,04 milliard de dollars US), soit une augmentation de 26 % par rapport à l'année précédente. Les points forts incluent une augmentation de 84 % des revenus des jeux mobiles, atteignant 1,82 milliard de RMB, et une croissance de 28 % des revenus publicitaires, atteignant 2,09 milliards de RMB. L'entreprise a réalisé son premier bénéfice net non-GAAP de 235,9 millions de RMB, contre une perte l'année précédente. Le nombre d'utilisateurs actifs quotidiens a atteint 107,3 millions, le temps moyen passé quotidiennement augmentant à 106 minutes. La marge bénéficiaire brute s'est considérablement améliorée, passant de 25,0 % à 34,9 % d'une année sur l'autre. L'entreprise a également annoncé un nouveau programme de rachat d'actions allant jusqu'à 200 millions de dollars US.
Bilibili hat starke Finanzresultate für das dritte Quartal 2024 gemeldet, wobei die Gesamtnettoumsätze 7,31 Milliarden RMB (1,04 Milliarden US-Dollar) erreichten, was einem Anstieg von 26% im Jahresvergleich entspricht. Zu den bemerkenswerten Highlights gehört ein Anstieg der Einnahmen aus mobilen Spielen um 84% auf 1,82 Milliarden RMB und ein Wachstum der Werbeeinnahmen um 28% auf 2,09 Milliarden RMB. Das Unternehmen erzielte seinen ersten Non-GAAP-Nettogewinn von 235,9 Millionen RMB, verglichen mit einem Verlust im Vorjahr. Die täglichen aktiven Nutzer erreichten 107,3 Millionen, wobei die durchschnittliche tägliche Verweildauer auf 106 Minuten anstieg. Die Bruttogewinnmarge verbesserte sich erheblich von 25,0% auf 34,9% im Jahresvergleich. Das Unternehmen kündigte außerdem ein neues Aktienrückkaufprogramm von bis zu 200 Millionen US-Dollar an.
- First-time achievement of non-GAAP net profit at RMB235.9 million
- Mobile games revenue surged 84% YoY to RMB1.82 billion
- Advertising revenue increased 28% YoY to RMB2.09 billion
- Gross profit margin improved to 34.9% from 25.0%
- Operating cash flow increased to RMB2.23 billion from RMB277.4 million YoY
- Net loss narrowed by 94% YoY to RMB79.8 million
- IP derivatives and others revenue decreased 2% YoY
- Operating expenses increased 2% YoY to RMB2.61 billion
- Still operating at a net loss of RMB79.8 million
Insights
BILI delivered a remarkable turnaround in Q3 2024, achieving its first non-GAAP profit of
The platform's commercial transformation is gaining momentum, demonstrated by robust monetization across key segments. The success of exclusively licensed game "San Guo: Mou Ding Tian Xia" showcases BILI's ability to capitalize on gaming opportunities. User engagement metrics are particularly encouraging - the
SHANGHAI, China, Nov. 14, 2024 (GLOBE NEWSWIRE) -- Bilibili Inc. (“Bilibili” or the “Company”) (NASDAQ: BILI and HKEX: 9626), an iconic brand and a leading video community for young generations in China, today announced its unaudited financial results for the third quarter ended September 30, 2024.
Third Quarter 2024 Highlights:
- Total net revenues were RMB7.31 billion (US
$1,041.0 million ), representing an increase of26% year over year.- Mobile games revenues were RMB1.82 billion (US
$259.7 million ), representing an increase of84% year over year. - Advertising revenues were RMB2.09 billion (US
$298.5 million ), representing an increase of28% year over year.
- Mobile games revenues were RMB1.82 billion (US
- Gross profit was RMB2.55 billion (US
$363.0 million ), representing an increase of76% year over year. Gross profit margin reached34.9% , improving from25.0% in the same period last year. - Net loss was RMB79.8 million (US
$11.4 million ), narrowing by94% year over year. - Adjusted net profit1 was RMB235.9 million (US
$33.6 million ), compared with an adjusted net loss of RMB863.5 million in the same period last year. - Operating cash flow was RMB2.23 billion (US
$317.1 million ) in the third quarter of 2024, compared with RMB277.4 million in the same period last year. - Average daily active users (DAUs) were 107.3 million, compared with 102.8 million in the same period last year.
“This quarter, we sustained strong growth momentum across our community metrics and key business lines,” said Mr. Rui Chen, chairman and chief executive officer of Bilibili. “Both DAUs and MAUs hit record highs of 107 million and 348 million, respectively. Users' average daily time spent also reached a new high of 106 minutes, increasing by 6 minutes compared to the same period last year. With our thriving community and highly engaged user base, we are well-positioned to tap into greater user value through our diverse commercial offerings. Total revenues in the third quarter came in at RMB7.31 billion, increasing by
Mr. Sam Fan, chief financial officer of Bilibili, said, “In the third quarter, robust growth in our high-margin mobile games and advertising businesses accelerated our total revenue growth and significantly expanded our margins. Our gross profit surged by
Third Quarter 2024 Financial Results
Total net revenues. Total net revenues were RMB7.31 billion (US
Value-added services (VAS). Revenues from VAS were RMB2.82 billion (US
Advertising. Revenues from advertising were RMB2.09 billion (US
Mobile games. Revenues from mobile games were RMB1.82 billion (US
IP derivatives and others. Revenues from IP derivatives and others were RMB567.3 million (US
Cost of revenues. Cost of revenues was RMB4.76 billion (US
Gross profit. Gross profit was RMB2.55 billion (US
Total operating expenses. Total operating expenses were RMB2.61 billion (US
Sales and marketing expenses. Sales and marketing expenses were RMB1.20 billion (US
General and administrative expenses. General and administrative expenses were RMB505.4 million (US
Research and development expenses. Research and development expenses were RMB906.1 million (US
Loss from operations. Loss from operations was RMB66.7 million (US
Adjusted profit/(loss) from operations1. Adjusted profit from operations was RMB272.2 million (US
Total other (expenses)/income, net. Total other expenses were RMB21.5 million (US
Income tax (expense)/benefit. Income tax benefit was RMB8.4 million (US
Net loss. Net loss was RMB79.8 million (US
Adjusted net profit/(loss)1. Adjusted net profit was RMB235.9 million (US
Basic and diluted EPS and adjusted basic and diluted EPS1. Basic and diluted net loss per share were RMB0.19 (US
Net cash provided by operating activities. Net cash provided by operating activities was RMB2.23 billion (US
Cash and cash equivalents, time deposits and short-term investments. As of September 30, 2024, the Company had cash and cash equivalents, time deposits and short-term investments of RMB15.23 billion (US
Convertible Senior Notes. As of September 30, 2024, the aggregate outstanding principal amount of April 2026 Notes, 2027 Notes and December 2026 Notes was US
Share Repurchase Program
The Company announced today that its board of directors has authorized a share repurchase program under which the Company may repurchase up to US
1 Adjusted profit/(loss) from operations, adjusted net profit/(loss), and adjusted basic and diluted EPS are non-GAAP financial measures. For more information on non-GAAP financial measures, please see the section “Use of Non-GAAP Financial Measures” and the table captioned “Unaudited Reconciliations of GAAP and Non-GAAP Results.”
Conference Call
The Company’s management will host an earnings conference call at 7:00 AM U.S. Eastern Time on November 14, 2024 (8:00 PM Beijing/Hong Kong Time on November 14, 2024). Details for the conference call are as follows:
Event Title: | Bilibili Inc. Third Quarter 2024 Earnings Conference Call |
Registration Link: | https://register.vevent.com/register/BIe88042cc6a194f4f9cd849575a6a65f4 |
All participants must use the link provided above to complete the online registration process in advance of the conference call. Upon registering, each participant will receive a set of participant dial-in numbers and a personal PIN, which will be used to join the conference call.
Additionally, a live webcast of the conference call will be available on the Company’s investor relations website at http://ir.bilibili.com, and a replay of the webcast will be available following the session.
About Bilibili Inc.
Bilibili is an iconic brand and a leading video community with a mission to enrich the everyday lives of young generations in China. Bilibili offers a wide array of video-based content with All the Videos You Like as its value proposition. Bilibili builds its community around aspiring users, high-quality content, talented content creators and the strong emotional bonds among them. Bilibili pioneered the “bullet chatting” feature, a live comment function that has transformed our users’ viewing experience by displaying the thoughts and feelings of audience members viewing the same video. The Company has now become the welcoming home of diverse interests among young generations in China and the frontier for promoting Chinese culture across the world.
For more information, please visit: http://ir.bilibili.com.
Use of Non-GAAP Financial Measures
The Company uses non-GAAP measures, such as adjusted profit/(loss) from operations, adjusted net profit/(loss), adjusted net profit/(loss) per share and per ADS, basic and diluted and adjusted net profit/(loss) attributable to the Bilibili Inc.’s shareholders in evaluating its operating results and for financial and operational decision-making purposes. The Company believes that the non-GAAP financial measures help identify underlying trends in its business by excluding the impact of share-based compensation expenses, amortization expense related to intangible assets acquired through business acquisitions, income tax related to intangible assets acquired through business acquisitions, gain/loss on fair value change in investments in publicly traded companies, and gain/loss on repurchase of convertible senior notes. The Company believes that the non-GAAP financial measures provide useful information about the Company’s results of operations, enhance the overall understanding of the Company’s past performance and future prospects and allow for greater visibility with respect to key metrics used by the Company’s management in its financial and operational decision-making.
The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP and therefore may not be comparable to similar measures presented by other companies. The non-GAAP financial measures have limitations as analytical tools, and when assessing the Company’s operating performance, cash flows or liquidity, investors should not consider them in isolation, or as a substitute for net loss, cash flows provided by operating activities or other consolidated statements of operations and cash flows data prepared in accordance with U.S. GAAP.
The Company mitigates these limitations by reconciling the non-GAAP financial measures to the most comparable U.S. GAAP performance measures, all of which should be considered when evaluating the Company’s performance.
For more information on the non-GAAP financial measures, please see the table captioned “Unaudited Reconciliations of GAAP and Non-GAAP Results.”
Exchange Rate Information
This announcement contains translations of certain RMB amounts into U.S. dollars (“US$”) at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to US$ were made at the rate of RMB7.0176 to US
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident,” “potential,” “continue,” or other similar expressions. Among other things, outlook and quotations from management in this announcement, as well as Bilibili’s strategic and operational plans, contain forward-looking statements. Bilibili may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its interim and annual reports to shareholders, in announcements, circulars or other publications made on the website of The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Bilibili’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: results of operations, financial condition, and stock price; Bilibili’s strategies; Bilibili’s future business development, financial condition and results of operations; Bilibili’s ability to retain and increase the number of users, members and advertising customers, provide quality content, products and services, and expand its product and service offerings; competition in the online entertainment industry; Bilibili’s ability to maintain its culture and brand image within its addressable user communities; Bilibili’s ability to manage its costs and expenses; PRC governmental policies and regulations relating to the online entertainment industry, general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the Securities and Exchange Commission and the Hong Kong Stock Exchange. All information provided in this announcement and in the attachments is as of the date of the announcement, and the Company undertakes no duty to update such information, except as required under applicable law.
For investor and media inquiries, please contact:
In China:
Bilibili Inc.
Juliet Yang
Tel: +86-21-2509-9255 Ext. 8523
E-mail: ir@bilibili.com
Piacente Financial Communications
Helen Wu
Tel: +86-10-6508-0677
E-mail: bilibili@tpg-ir.com
In the United States:
Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: bilibili@tpg-ir.com
BILIBILI INC. Unaudited Condensed Consolidated Statements of Operations (All amounts in thousands, except for share and per share data) | |||||||||||||||||||
For the Three Months Ended | For the Nine Months Ended | ||||||||||||||||||
September 30, | June 30, | September 30, | September 30, | September 30, | |||||||||||||||
2023 | 2024 | 2024 | 2023 | 2024 | |||||||||||||||
RMB | RMB | RMB | RMB | RMB | |||||||||||||||
Net revenues: | |||||||||||||||||||
Value-added services (VAS) | 2,595,036 | 2,565,888 | 2,821,269 | 7,053,001 | 7,916,066 | ||||||||||||||
Advertising | 1,638,232 | 2,037,491 | 2,094,427 | 4,482,876 | 5,800,502 | ||||||||||||||
Mobile games | 991,776 | 1,007,367 | 1,822,609 | 3,014,279 | 3,812,786 | ||||||||||||||
IP derivatives and others | 580,037 | 516,398 | 567,315 | 1,628,735 | 1,568,010 | ||||||||||||||
Total net revenues | 5,805,081 | 6,127,144 | 7,305,620 | 16,178,891 | 19,097,364 | ||||||||||||||
Cost of revenues | (4,354,664 | ) | (4,293,943 | ) | (4,758,434 | ) | (12,397,008 | ) | (13,111,617 | ) | |||||||||
Gross profit | 1,450,417 | 1,833,201 | 2,547,186 | 3,781,883 | 5,985,747 | ||||||||||||||
Operating expenses: | |||||||||||||||||||
Sales and marketing expenses | (992,303 | ) | (1,035,596 | ) | (1,202,407 | ) | (2,790,686 | ) | (3,165,062 | ) | |||||||||
General and administrative expenses | (499,132 | ) | (488,039 | ) | (505,386 | ) | (1,610,526 | ) | (1,525,202 | ) | |||||||||
Research and development expenses | (1,066,155 | ) | (894,701 | ) | (906,072 | ) | (3,140,188 | ) | (2,765,893 | ) | |||||||||
Total operating expenses | (2,557,590 | ) | (2,418,336 | ) | (2,613,865 | ) | (7,541,400 | ) | (7,456,157 | ) | |||||||||
Loss from operations | (1,107,173 | ) | (585,135 | ) | (66,679 | ) | (3,759,517 | ) | (1,470,410 | ) | |||||||||
Other (expenses)/income: | |||||||||||||||||||
Investment loss, net (including impairments) | (244,961 | ) | (94,684 | ) | (70,957 | ) | (236,640 | ) | (186,890 | ) | |||||||||
Interest income | 117,722 | 100,344 | 91,279 | 416,022 | 324,830 | ||||||||||||||
Interest expense | (30,064 | ) | (19,809 | ) | (17,824 | ) | (135,746 | ) | (69,207 | ) | |||||||||
Exchange losses | (23,871 | ) | (15,275 | ) | (5,909 | ) | (40,423 | ) | (79,244 | ) | |||||||||
Debt extinguishment gain/(loss) | 9,771 | - | - | 292,213 | (20,980 | ) | |||||||||||||
Others, net | (40,695 | ) | 256 | (18,134 | ) | 22,633 | 36,305 | ||||||||||||
Total other (expenses)/income, net | (212,098 | ) | (29,168 | ) | (21,545 | ) | 318,059 | 4,814 | |||||||||||
Loss before income tax | (1,319,271 | ) | (614,303 | ) | (88,224 | ) | (3,441,458 | ) | (1,465,596 | ) | |||||||||
Income tax (expense)/benefit | (17,975 | ) | 6,154 | 8,419 | (73,565 | ) | 13,011 | ||||||||||||
Net loss | (1,337,246 | ) | (608,149 | ) | (79,805 | ) | (3,515,023 | ) | (1,452,585 | ) | |||||||||
Net (profit)/loss attributable to noncontrolling interests | (14,198 | ) | (551 | ) | 290 | (10,814 | ) | 15,825 | |||||||||||
Net loss attributable to the Bilibili Inc.'s shareholders | (1,351,444 | ) | (608,700 | ) | (79,515 | ) | (3,525,837 | ) | (1,436,760 | ) | |||||||||
Net loss per share, basic | (3.26 | ) | (1.46 | ) | (0.19 | ) | (8.54 | ) | (3.45 | ) | |||||||||
Net loss per ADS, basic | (3.26 | ) | (1.46 | ) | (0.19 | ) | (8.54 | ) | (3.45 | ) | |||||||||
Net loss per share, diluted | (3.26 | ) | (1.46 | ) | (0.19 | ) | (8.54 | ) | (3.45 | ) | |||||||||
Net loss per ADS, diluted | (3.26 | ) | (1.46 | ) | (0.19 | ) | (8.54 | ) | (3.45 | ) | |||||||||
Weighted average number of ordinary shares, basic | 413,983,020 | 416,287,273 | 417,849,446 | 412,676,893 | 416,475,386 | ||||||||||||||
Weighted average number of ADS, basic | 413,983,020 | 416,287,273 | 417,849,446 | 412,676,893 | 416,475,386 | ||||||||||||||
Weighted average number of ordinary shares, diluted | 413,983,020 | 416,287,273 | 417,849,446 | 412,676,893 | 416,475,386 | ||||||||||||||
Weighted average number of ADS, diluted | 413,983,020 | 416,287,273 | 417,849,446 | 412,676,893 | 416,475,386 | ||||||||||||||
The accompanying notes are an integral part of this press release.
BILIBILI INC. Notes to Unaudited Financial Information (All amounts in thousands, except for share and per share data) | |||||||||||||
For the Three Months Ended | For the Nine Months Ended | ||||||||||||
September 30, | June 30, | September 30, | September 30, | September 30, | |||||||||
2023 | 2024 | 2024 | 2023 | 2024 | |||||||||
RMB | RMB | RMB | RMB | RMB | |||||||||
Share-based compensation expenses included in: | |||||||||||||
Cost of revenues | 18,808 | 18,370 | 26,781 | 48,710 | 58,828 | ||||||||
Sales and marketing expenses | 13,523 | 13,361 | 16,015 | 42,689 | 41,936 | ||||||||
General and administrative expenses | 155,511 | 139,032 | 133,825 | 446,724 | 430,681 | ||||||||
Research and development expenses | 116,195 | 88,716 | 120,490 | 327,462 | 289,731 | ||||||||
Total | 304,037 | 259,479 | 297,111 | 865,585 | 821,176 |
BILIBILI INC. Unaudited Condensed Consolidated Balance Sheets (All amounts in thousands, except for share and per share data) | ||||
December 31, | September 30, | |||
2023 | 2024 | |||
RMB | RMB | |||
Assets | ||||
Current assets: | ||||
Cash and cash equivalents | 7,191,821 | 7,463,154 | ||
Time deposits | 5,194,891 | 3,531,414 | ||
Restricted cash | 50,000 | 50,000 | ||
Accounts receivable, net | 1,573,900 | 1,516,707 | ||
Prepayments and other current assets | 2,063,362 | 1,886,186 | ||
Short-term investments | 2,653,065 | 4,239,534 | ||
Total current assets | 18,727,039 | 18,686,995 | ||
Non-current assets: | ||||
Property and equipment, net | 714,734 | 668,022 | ||
Production cost, net | 2,066,066 | 1,866,219 | ||
Intangible assets, net | 3,627,533 | 3,238,432 | ||
Goodwill | 2,725,130 | 2,725,130 | ||
Long-term investments, net | 4,366,632 | 4,172,991 | ||
Other long-term assets | 931,933 | 663,511 | ||
Total non-current assets | 14,432,028 | 13,334,305 | ||
Total assets | 33,159,067 | 32,021,300 | ||
Liabilities | ||||
Current liabilities: | ||||
Accounts payable | 4,333,730 | 4,923,826 | ||
Salary and welfare payables | 1,219,355 | 1,445,622 | ||
Taxes payable | 345,250 | 384,087 | ||
Short-term loan and current portion of long-term debt | 7,455,753 | 4,297,045 | ||
Deferred revenue | 2,954,088 | 4,106,212 | ||
Accrued liabilities and other payables | 1,795,519 | 2,600,074 | ||
Total current liabilities | 18,103,695 | 17,756,866 | ||
Non-current liabilities: | ||||
Long-term debt | 646 | 724 | ||
Other long-term liabilities | 650,459 | 540,594 | ||
Total non-current liabilities | 651,105 | 541,318 | ||
Total liabilities | 18,754,800 | 18,298,184 | ||
Total Bilibili Inc.’s shareholders’ equity | 14,391,900 | 13,726,574 | ||
Noncontrolling interests | 12,367 | (3,458 | ) | |
Total shareholders’ equity | 14,404,267 | 13,723,116 | ||
Total liabilities and shareholders’ equity | 33,159,067 | 32,021,300 |
BILIBILI INC. Unaudited Selected Condensed Consolidated Cash Flows Data (All amounts in thousands, except for share and per share data) | |||||||||||
For the Three Months Ended | For the Nine Months Ended | ||||||||||
September 30, | June 30, | September 30, | September 30, | September 30, | |||||||
2023 | 2024 | 2024 | 2023 | 2024 | |||||||
RMB | RMB | RMB | RMB | RMB | |||||||
Net cash provided by/(used in) operating activities | 277,384 | 1,750,540 | 2,225,629 | (373,774 | ) | 4,613,866 |
BILIBILI INC. Unaudited Reconciliations of GAAP and Non-GAAP Results (All amounts in thousands, except for share and per share data) | |||||||||||||||
For the Three Months Ended | For the Nine Months Ended | ||||||||||||||
September 30, | June 30, | September 30, | September 30, | September 30, | |||||||||||
2023 | 2024 | 2024 | 2023 | 2024 | |||||||||||
RMB | RMB | RMB | RMB | RMB | |||||||||||
Loss from operations | (1,107,173 | ) | (585,135 | ) | (66,679 | ) | (3,759,517 | ) | (1,470,410 | ) | |||||
Add: | |||||||||||||||
Share-based compensation expenses | 304,037 | 259,479 | 297,111 | 865,585 | 821,176 | ||||||||||
Amortization expense related to intangible assets acquired through business acquisitions | 47,734 | 41,776 | 41,776 | 144,036 | 125,328 | ||||||||||
Adjusted (loss)/profit from operations | (755,402 | ) | (283,880 | ) | 272,208 | (2,749,896 | ) | (523,906 | ) | ||||||
Net loss | (1,337,246 | ) | (608,149 | ) | (79,805 | ) | (3,515,023 | ) | (1,452,585 | ) | |||||
Add: | |||||||||||||||
Share-based compensation expenses | 304,037 | 259,479 | 297,111 | 865,585 | 821,176 | ||||||||||
Amortization expense related to intangible assets acquired through business acquisitions | 47,734 | 41,776 | 41,776 | 144,036 | 125,328 | ||||||||||
Income tax related to intangible assets acquired through business acquisitions | (5,563 | ) | (5,407 | ) | (5,406 | ) | (16,813 | ) | (16,220 | ) | |||||
Loss/(Gain) on fair value change in investments in publicly traded companies | 137,358 | 41,311 | (17,778 | ) | (43,875 | ) | 10,347 | ||||||||
(Gain)/Loss on repurchase of convertible senior notes | (9,771 | ) | - | - | (292,213 | ) | 20,980 | ||||||||
Adjusted net (loss)/profit | (863,451 | ) | (270,990 | ) | 235,898 | (2,858,303 | ) | (490,974 | ) | ||||||
Net (profit)/loss attributable to noncontrolling interests | (14,198 | ) | (551 | ) | 290 | (10,814 | ) | 15,825 | |||||||
Adjusted net (loss)/profit attributable to the Bilibili Inc.'s shareholders | (877,649 | ) | (271,541 | ) | 236,188 | (2,869,117 | ) | (475,149 | ) | ||||||
Adjusted net (loss)/profit per share, basic | (2.12 | ) | (0.65 | ) | 0.57 | (6.95 | ) | (1.14 | ) | ||||||
Adjusted net (loss)/profit per ADS, basic | (2.12 | ) | (0.65 | ) | 0.57 | (6.95 | ) | (1.14 | ) | ||||||
Adjusted net (loss)/profit per share, diluted | (2.12 | ) | (0.65 | ) | 0.57 | (6.95 | ) | (1.14 | ) | ||||||
Adjusted net (loss)/profit per ADS, diluted | (2.12 | ) | (0.65 | ) | 0.57 | (6.95 | ) | (1.14 | ) | ||||||
Weighted average number of ordinary shares, basic | 413,983,020 | 416,287,273 | 417,849,446 | 412,676,893 | 416,475,386 | ||||||||||
Weighted average number of ADS, basic | 413,983,020 | 416,287,273 | 417,849,446 | 412,676,893 | 416,475,386 | ||||||||||
Weighted average number of ordinary shares, diluted | 413,983,020 | 416,287,273 | 417,849,446 | 412,676,893 | 416,475,386 | ||||||||||
Weighted average number of ADS, diluted | 413,983,020 | 416,287,273 | 417,849,446 | 412,676,893 | 416,475,386 | ||||||||||
FAQ
What was Bilibili's (BILI) revenue growth in Q3 2024?
Did Bilibili (BILI) achieve profitability in Q3 2024?
What was Bilibili's (BILI) user growth in Q3 2024?