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Xunlei Announces Unaudited Financial Results for the Second Quarter Ended June 30, 2024

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Xunlei (NASDAQ: XNET) reported its Q2 2024 financial results, showing mixed performance. Total revenues decreased by 23.7% year-over-year to $79.6 million, primarily due to a significant decline in live streaming revenues. However, subscription revenues increased by 10.8% to $32.9 million, driven by subscriber growth. The company remained profitable with a net income of $2.5 million, down from $5.0 million in Q2 2023. Gross profit margin improved to 51.1% from 44.0% year-over-year. Xunlei's focus on product innovation, including the successful launch of Xunlei Browser, aims to drive future growth. The company maintains a strong balance sheet with $263.4 million in cash and short-term investments as of June 30, 2024.

Xunlei (NASDAQ: XNET) ha riportato i risultati finanziari del secondo trimestre 2024, mostrando una performance contrastante. I ricavi totali sono diminuiti del 23,7% rispetto all'anno precedente, raggiungendo i 79,6 milioni di dollari, principalmente a causa di un significativo calo dei ricavi da streaming dal vivo. Tuttavia, i ricavi da abbonamento sono aumentati del 10,8%, arrivando a 32,9 milioni di dollari, grazie alla crescita degli abbonati. L'azienda è rimasta redditizia, con un utile netto di 2,5 milioni di dollari, in calo rispetto ai 5,0 milioni di dollari del secondo trimestre 2023. Il margine di profitto lordo è migliorato al 51,1%, rispetto al 44,0% dell'anno precedente. L'attenzione di Xunlei all'innovazione di prodotto, compreso il lancio di successo di Xunlei Browser, punta a favorire la crescita futura. L'azienda mantiene un bilancio solido con 263,4 milioni di dollari in contante e investimenti a breve termine al 30 giugno 2024.

Xunlei (NASDAQ: XNET) reportó sus resultados financieros del segundo trimestre de 2024, mostrando un rendimiento mixto. Los ingresos totales disminuyeron un 23.7% interanual a 79.6 millones de dólares, principalmente debido a una importante caída en los ingresos de transmisión en vivo. Sin embargo, los ingresos por suscripción aumentaron un 10.8% a 32.9 millones de dólares, impulsados por el crecimiento de los suscriptores. La compañía se mantuvo rentable con un ingreso neto de 2.5 millones de dólares, en comparación con 5.0 millones de dólares en el segundo trimestre de 2023. El margen de ganancia bruta mejoró al 51.1%, frente al 44.0% del año anterior. El enfoque de Xunlei en la innovación de productos, incluyendo el exitoso lanzamiento de Xunlei Browser, tiene como objetivo impulsar el crecimiento futuro. La compañía mantiene un balance sólido con 263.4 millones de dólares en efectivo e inversiones a corto plazo al 30 de junio de 2024.

Xunlei (NASDAQ: XNET)는 2024년 2분기 재무 결과를 발표했으며, 혼합된 성과를 보여주었습니다. 총 수익은 전년 대비 23.7% 감소한 7,960만 달러로, 주로 라이브 스트리밍 수익의 큰 감소 때문입니다. 그러나 구독 수익은 10.8% 증가하여 3,290만 달러에 달하며, 이는 가입자 증가에 의해 촉진되었습니다. 회사는 여전히 수익성이 있으며 순이익은 250만 달러로, 2023년 2분기의 500만 달러에서 감소했습니다. 총 이익률은 전년 대비 44.0%에서 51.1%로 개선되었습니다. Xunlei는 성공적인 Xunlei Browser 출시를 포함한 제품 혁신에 집중하여 미래 성장을 유도할 계획입니다. 2024년 6월 30일 기준으로 회사는 2억 6,340만 달러의 현금 및 단기 투자로 강력한 대차대조표를 유지하고 있습니다.

Xunlei (NASDAQ: XNET) a publié ses résultats financiers du deuxième trimestre 2024, montrant des performances mitigées. Les revenus totaux ont diminué de 23,7 % d'une année sur l'autre, atteignant 79,6 millions de dollars, principalement en raison d'une forte baisse des revenus de streaming en direct. Cependant, les revenus d'abonnement ont augmenté de 10,8 % pour atteindre 32,9 millions de dollars, soutenus par la croissance du nombre d'abonnés. L'entreprise reste rentable avec un bénéfice net de 2,5 millions de dollars, en baisse par rapport à 5,0 millions de dollars au deuxième trimestre 2023. La marge brute s'est améliorée, passant de 44,0 % à 51,1 % d'une année sur l'autre. L'accent mis par Xunlei sur l'innovation produit, y compris le lancement réussi du Xunlei Browser, vise à stimuler la croissance future. L'entreprise maintient un bilan solide avec 263,4 millions de dollars en liquidités et investissements à court terme au 30 juin 2024.

Xunlei (NASDAQ: XNET) hat seine finanziellen Ergebnisse für das zweite Quartal 2024 veröffentlicht, die eine gemischte Leistung zeigen. Die Gesamtumsätze sind im Jahresvergleich um 23,7 % auf 79,6 Millionen US-Dollar gesunken, hauptsächlich aufgrund eines signifikanten Rückgangs der Live-Streaming-Erlöse. Allerdings stiegen die Abonnementeinnahmen um 10,8 % auf 32,9 Millionen US-Dollar, angetrieben durch das Wachstum der Abonnenten. Das Unternehmen blieb profitabel mit einem Nettoeinkommen von 2,5 Millionen US-Dollar, was einen Rückgang von 5,0 Millionen US-Dollar im zweiten Quartal 2023 darstellt. Die Bruttogewinnmarge verbesserte sich im Jahresvergleich von 44,0 % auf 51,1 %. Xunleis Fokus auf Produktinnovationen, einschließlich des erfolgreichen Starts von Xunlei Browser, zielt darauf ab, zukünftiges Wachstum voranzutreiben. Das Unternehmen verfügt über eine starke Bilanz mit 263,4 Millionen US-Dollar in bar und kurzfristigen Investitionen zum 30. Juni 2024.

Positive
  • Subscription revenues increased by 10.8% year-over-year to $32.9 million
  • Gross profit margin improved to 51.1% from 44.0% year-over-year
  • Number of subscribers grew to 5.71 million from 4.72 million year-over-year
  • Maintained profitability with net income of $2.5 million
  • Strong balance sheet with $263.4 million in cash and short-term investments
Negative
  • Total revenues decreased by 23.7% year-over-year to $79.6 million
  • Cloud computing revenues decreased by 13.8% year-over-year to $26.4 million
  • Live streaming and other IVAS revenues decreased by 53.9% year-over-year to $20.3 million
  • Net income decreased from $5.0 million in Q2 2023 to $2.5 million in Q2 2024
  • Diluted earnings per ADS decreased from $0.08 to $0.04 year-over-year

Insights

Xunlei's Q2 2024 results present a mixed picture. While total revenues decreased by 23.7% year-over-year to $79.6 million, the company remained profitable with a net income of $2.5 million. The subscription business showed strong growth, increasing 10.8% YoY to $32.9 million, driven by a 21% increase in subscribers. However, this was offset by significant declines in cloud computing (-13.8%) and live streaming revenues (-53.9%).

The gross profit margin improved to 51.1% from 44% last year, mainly due to a shift in revenue mix towards higher-margin subscription services. The company's cash position remains strong at $263.4 million, providing a solid foundation for future investments and share buybacks.

Investors should monitor the company's ability to sustain subscription growth and stabilize other revenue streams in the coming quarters.

Xunlei's strategic shift towards product diversification and user experience enhancement is evident in this quarter's results. The successful launch of Xunlei Browser across major platforms, focusing on video streaming, web browsing and novel reading, demonstrates the company's commitment to innovation and user engagement.

The subscription business growth is particularly noteworthy, as it indicates Xunlei's ability to monetize its user base effectively. With 5.71 million subscribers, up from 4.72 million last year, the company is showing strong user acquisition and retention capabilities.

However, the decline in cloud computing revenues is concerning, as this segment was previously seen as a growth driver. Xunlei needs to address the challenges in this area, possibly by diversifying its customer base or introducing new cloud services to reignite growth.

The company's focus on product refinement and global expansion in the second half of 2024 could potentially offset the current revenue declines if executed effectively.

SHENZHEN, China, Aug. 13, 2024 (GLOBE NEWSWIRE) -- Xunlei Limited ("Xunlei" or the "Company") (Nasdaq: XNET), a leading technology company providing distributed cloud services in China, today announced its unaudited financial results for the second quarter ended June 30, 2024.

Second quarter 2024 Financial Highlights:

  • Total revenues were US$79.6 million, representing a decrease of 23.7% year-over-year. 
  • Cloud computing revenues were US$26.4 million, representing a decrease of 13.8% year-over-year. 
  • Subscription revenues were US$32.9 million, representing an increase of 10.8% year-over-year. 
  • Live streaming and other internet value-added services (“Live streaming and other IVAS”) revenues were US$20.3 million, representing a decrease of 53.9% year-over-year. 
  • Gross profit was US$40.7 million, representing a decrease of 11.3% year-over-year, and gross profit margin was 51.1% in the second quarter, compared with 44.0% in the same period of 2023. 
  • Net income was US$2.5 million in the second quarter, compared with US$5.0 million in the same period of 2023. 
  • Non-GAAP net income was US$3.2 million in the second quarter, compared with US$8.4 million in the same period of 2023. 
  • Diluted earnings per ADS was approximately US$0.04 in the second quarter, compared with US$0.08 in the same period of 2023.

Mr. Jinbo Li, Chairman and Chief Executive Officer of Xunlei, stated that, “The second quarter results met our expectations and remained profitable. Specifically, our subscription business has demonstrated robust performance with an increase in revenue of 10.8% year-over-year due to our continued iteration of our product features and cultivation of our user community. Furthermore, we successfully launched Xunlei Browser on major platforms, excelling in delivering exceptional experiences in video streaming, web browsing, and novel reading. We are thrilled to receive overwhelmingly positive user feedback and intend to launch additional products in the coming days to better serve our customers.”

“In the second half of 2024, our primary focus will be on delivering refined products and services to our customers. We will continue diversifying our product portfolio, innovating interactive features, and organizing tailored local operations to further boost user penetration and drive global business growth. With a strong balance sheet, we believe we are well-positioned to invest in new initiatives. Looking ahead, we remain committed to expanding our business to create long-term value and foster sustainable growth,” concluded Mr. Li.

Second Quarter 2024 Financial Results

Total Revenues

Total revenues were US$79.6 million, representing a decrease of 23.7% year-over-year. The decrease in total revenues was mainly attributable to the decreased revenues from our live streaming business as a result of the downsizing of our domestic audio live streaming operations since June 2023.

Revenues from cloud computing were US$26.4 million, representing a decrease of 13.8% year-over-year. The decrease in cloud computing revenues was mainly due to the decreased revenues generated from certain of our major customers of the cloud computing services and a decline in sales of cloud computing hardware devices.

Revenues from subscription were US$32.9 million, representing an increase of 10.8% year-over-year. The increase in subscription revenues was mainly driven by the increase in the number of subscribers. The number of subscribers was 5.71 million as of June 30, 2024, compared with 4.72 million as of June 30, 2023. The average revenue per subscriber for the second quarter was RMB39.5, compared with RMB42.9 in the same period of 2023. The lower average revenue per subscriber was due to more promotional activities during the quarter.

Revenues from live streaming and other IVAS were US$20.3 million, representing a decrease of 53.9% year-over-year. The decrease of live streaming and other IVAS revenues was mainly due to the downsizing of our domestic audio live streaming operations since June 2023, which was partially offset by the increase in the revenues from our overseas audio live streaming business.

Costs of Revenues

Costs of revenues were US$38.6 million, representing 48.5% of our total revenues, compared with US$58.1 million, or 55.7% of the total revenues, in the same period of 2023. The decrease in costs of revenues was mainly attributable to the decreased revenue-sharing costs for our live streaming business, as well as the decreased bandwidth costs incurred during this quarter.

Bandwidth costs, as included in costs of revenues, were US$25.8 million, representing 32.4% of our total revenues, compared with US$28.9 million, or 27.7% of the total revenues, in the same period of 2023. The decrease was primarily due to the enhanced utilization efficiency and the decrease in revenues from cloud computing service during the quarter.

The remaining costs of revenues mainly consisted of costs related to the revenue-sharing arrangement for our live streaming business, payment handling charges, cost of inventories sold and depreciation of servers and other equipment.

Gross Profit and Gross Profit Margin

Gross profit for the second quarter of 2024 was US$40.7 million, representing a decrease of 11.3% year-over-year. Gross profit margin was 51.10% in the second quarter, compared with 44.0% in the same period of 2023. The decrease in gross profit was mainly driven by the decreased gross profit from our live streaming business, partially offset by the increased gross profit from our subscription business. The increase in gross profit margin was primarily due to the higher portion of subscription revenues, which have a higher gross profit margin, and the lower portion of live streaming revenues, which have a relatively lower gross profit margin.

Research and Development Expenses

Research and development expenses for the second quarter were US$17.5 million, representing 21.9% of our total revenues, compared with US$17.2 million, or 16.5% of our total revenues, in the same period of 2023.

Sales and Marketing Expenses

Sales and marketing expenses for the second quarter were US$10.9 million, representing 13.7% of our total revenues, compared with US$15.4 million, or 14.7% of our total revenues, in the same period of 2023. The decrease was primarily due to a reduction in marketing expenses incurred for our live streaming business as result of the downsizing of our domestic audio live streaming operations since June 2023.

General and Administrative Expenses

General and administrative expenses for the second quarter were US$11.2 million, representing 14.1% of our total revenues, compared with US$12.4 million, or 11.9% of our total revenues, in the same period of 2023. The decrease was primarily due to the decreased share-based compensation expenses, partially offset by the increase in labor costs during the quarter.

Operating Income

Operating income was US$1.0 million, compared with an operating income of US$0.9 million in the same period of 2023. The increase in operating income was primarily attributable to the decrease in marketing expenses and share-based compensation expenses, partially offset by the decrease in gross profit from our live streaming business during the quarter.

Other Income, Net

Other income, net was US$2.5 million, compared with other income, net of US$4.7 million in the same period of 2023. The decrease was primarily due to the reduction in exchange gains and subsidy income received during the quarter.

Net Income and Earnings Per ADS

Net income was US$2.5 million, compared with US$5.0 million in the same period of 2023. Non-GAAP net income was US$3.2 million in the second quarter of 2024, compared with US$8.4 million in the same period of 2023. The decreases of net income and non-GAAP net income were primarily attributable to the decrease in gross profit and other income, partially offset by the decrease in operating expenses as discussed above.

Diluted earnings per ADS in the second quarter of 2024 was approximately US$0.04 as compared to US$0.08 in the same period of 2023.

Cash Balance

As of June 30, 2024, the Company had cash, cash equivalents and short-term investments of US$263.4 million, compared with US$272.5 million as of March 31, 2024. The decrease was mainly due to the net cash outflow from operating activities, spending on share buybacks and payment for the construction of Xunlei headquarters.

Share Repurchase Program

On June 6, 2023, Xunlei announced that its Board of Directors had authorized the repurchase of up to US$20 million of its shares over the next 12 months. As of June 30, 2024, the Company had spent approximately US$4.7 million on share buybacks under the aforesaid share repurchase program.

On June 4, 2024, Xunlei announced that its Board of Directors had authorized a new plan for the repurchase of up to US$20 million of its shares over the next 12 months. As of June 30, 2024, the Company had spent approximately US$0.5 million on share buybacks under the new share repurchase program.

Guidance for the Second Quarter of 2024

For the third quarter of 2024, Xunlei estimates total revenues to be between US$81 million and US$86 million, and the midpoint of the range represents a quarter-over-quarter increase of approximately 4.9%. This estimate represents management's preliminary view as of the date of this press release, which is subject to change and any change could be material.

Conference Call Information.

Xunlei's management will host a conference call at 8:00 a.m. U.S. Eastern Time on August 13, 2024 (8:00 p.m. Beijing/Hong Kong Time), to discuss the Company's quarterly results and recent business developments.

Participant Online Registration: https://register.vevent.com/register/BI122c76439b8e42b492824299bb12cecb

Please register to join the conference using the link provided above and dial in 10 minutes before the call is scheduled to begin. Once registered, the participants will receive an email with personal PIN and dial-in information, and participants can choose to access either via Dial-In or Call Me. A kindly reminder that "Call Me" does not work for China number.

The Company will also broadcast a live audio webcast of the conference call. The webcast will be available at http://ir.xunlei.com. Following the earnings conference call, an archive of the call will be available at https://edge.media-server.com/mmc/p/we7k3gmp

About Xunlei

Founded in 2003, Xunlei Limited (Nasdaq: XNET) is a leading technology company providing distributed cloud services in China. Xunlei provides a wide range of products and services across cloud acceleration, shared cloud computing and digital entertainment to deliver an efficient, smart and safe internet experience.

Safe Harbor Statement

This press release contains statements of a forward-looking nature. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as "will," "expects," "believes," "anticipates," "future," "intends," "plans," "estimates" and similar statements. Among other things, the management's quotations and the "Guidance" section in this press release, as well as the Company's strategic, operational and acquisition plans, contain forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. Forward-looking statements involve inherent risks and uncertainties, including but not limited to: the Company's ability to continue to innovate and provide attractive products and services to retain and grow its user base; the Company's ability to keep up with technological developments and users' changing demands in the internet industry; the Company's ability to convert its users into subscribers of its premium services; the Company's ability to deal with existing and potential copyright infringement claims and other related claims; the Company’s ability to react to the governmental actions for its scrutiny of internet content in China and the Company's ability to compete effectively. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. Further information regarding risks and uncertainties faced by the Company is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of the press release, and the Company undertakes no obligation to update any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law.

About Non-GAAP Financial Measures

To supplement Xunlei's consolidated financial results presented in accordance with United States Generally Accepted Accounting Principles ("GAAP"), Xunlei uses the following measures defined as non-GAAP financial measures by the United States Securities and Exchange Commission: (1) non-GAAP operating income, (2) non-GAAP net income, (3) non-GAAP basic and diluted earnings per share for common shares, and (4) non-GAAP basic and diluted earnings per ADS. The presentation of the non-GAAP financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP.

Xunlei believes that these non-GAAP financial measures provide meaningful supplemental information to investors regarding the Company's operating performance by excluding share-based compensation expenses, which is not expected to result in future cash payments. These non-GAAP financial measures also facilitate management's internal comparisons to Xunlei's historical performance and assist the Company's financial and operational decision making. A limitation of using these non-GAAP financial measures is that these non-GAAP measures exclude share-based compensation charge that has been and will continue to be for the foreseeable future a recurring expense in Xunlei's results of operations. Management compensates for these limitations by providing specific information regarding the GAAP amounts excluded from each non-GAAP measure. The accompanying reconciliation tables at the end of this release include details on the reconciliations between GAAP financial measures that are most directly comparable to the non-GAAP financial measures the Company has presented.

 

XUNLEI LIMITED
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts expressed in thousands of USD, except for share, per share (or ADS) data)

 June 30,December 31,
 2024 2023 
 US$US$
Assets  
   
Current assets:  
Cash and cash equivalents129,338 170,802 
Short-term investments134,079 101,078 
Accounts receivable, net32,492 31,210 
Inventories2,018 2,219 
Due from related parties12,812 12,644 
Prepayments and other current assets10,124 9,423 
Total current assets320,863 327,376 
 

 
  
Non-current assets:  
Restricted cash514 - 
Long-term investments30,690 32,134 
Deferred tax assets666 478 
Property and equipment, net57,972 60,028 
Intangible assets, net9,120 5,697 
Goodwill20,697 20,826 
Due from a related party, non-current portion19,609 19,619 
Long-term prepayments and other non-current assets3,306 1,953 
Right-of-use assets438 575 
Total assets463,875 468,686 
 

 
  
Liabilities  
Current liabilities:  
Accounts payable26,094 24,430 
Due to related parties17 - 
Contract liabilities, current portion38,155 36,375 
Lease liabilities237 276 
Income tax payable6,546 6,391 
Accrued liabilities and other payables43,534 53,708 
Short-term bank borrowings and current portion of long-term bank borrowings4,209 6,906 
Total current liabilities118,792 128,086 
   
Non-current liabilities:  
Contract liabilities, non-current portion705 846 
Lease liabilities, non-current portion156 229 
Deferred tax liabilities1,053 513 
Bank borrowings, non-current portion14,032 15,539 
Total liabilities134,738 145,213 
   
Equity  
Common shares (US$0.00025 par value, 1,000,000,000 shares authorized, 375,001,940 shares issued and 323,525,556 shares outstanding as at December 31, 2023; 375,001,940 issued and 318,366,941 shares outstanding as at June 30, 2024)79 81 
Additional paid-in-capital481,402 482,484 
Accumulated other comprehensive loss(19,978)(18,913)
Statutory reserves8,142 8,142 
Treasury shares (51,476,384 shares and 56,634,999 shares as at December 31, 2023 and June 30, 2024, respectively)14 12 
Accumulated deficits(140,550)(146,944)
Total Xunlei Limited's shareholders' equity329,109 324,862 
Non-controlling interests28 (1,389)
Total liabilities and shareholders' equity463,875 468,686 

 

XUNLEI LIMITED
Unaudited Condensed Consolidated Statements of Income
(Amounts expressed in thousands of USD, except for share, per share (or ADS) data)
 
 Three months ended
  
 Jun 30,Mar 31,Jun 30,
 2024 2024 2023 
 US$US$US$
Revenues, net of rebates and discounts79,603 80,359 104,307 
Business taxes and surcharges(270)(379)(302)
Net revenues79,333 79,980 104,005 
Costs of revenues(38,632)(37,139)(58,140)
Gross profit40,701 42,841 45,865 
    
Operating expenses   
Research and development expenses(17,470)(17,642)(17,175)
Sales and marketing expenses(10,867)(10,061)(15,372)
General and administrative expenses(11,231)(11,132)(12,442)
Credit loss (expenses)/ write-back , net(166)26 (16)
Total operating expenses(39,734)(38,809)(45,005)
    
Operating income967 4,032 860 
Interest income1,265 1,221 1,089 
Interest expense(182)(242)(423)
Other income, net2,535 290 4,699 
Income before income taxes4,585 5,301 6,225 
Income tax expenses(2,065)(1,663)(1,259)
Net income2,520 3,638 4,966 
Less: net loss attributable to non-controlling interest(235)(1)(33)
Net income attributable to common shareholders2,755 3,639 4,999  
 

Earnings per share for common shares
   
Basic0.0086 0.0113 0.0153 
Diluted0.0086 0.0112 0.0152 
    
Earnings per ADS   
Basic0.0430 0.0565 0.0765 
Diluted0.0430 0.0560 0.0760 
    
Weighted average number of common shares used in calculating:   
Basic320,688,429 323,341,607 326,335,266 
Diluted320,922,960 323,491,768 327,853,441 
    
Weighted average number of ADSs used in calculating:   
Basic64,137,686 64,668,321 65,267,053 
Diluted64,184,592 64,698,354 65,570,688 

 

XUNLEI LIMITED
Reconciliation of GAAP and Non-GAAP Results
(Amounts expressed in thousands of USD, except for share, per share (or ADS) data)

 Three months ended
  
 Jun 30,Mar 31,Jun 30, 
 2024 2024 2023 
 US$US$US$ 
     
GAAP operating income967 4,032 860 
Share-based compensation expenses631 901 3,480 
Non-GAAP operating income1,598 4,933 4,340 
     
GAAP net income2,520 3,638 4,966 
Share-based compensation expenses631 901 3,480 
Non-GAAP net income3,151 4,539 8,446 
     
GAAP earnings per share for common shares:    
Basic0.0086 0.0113 0.0153 
Diluted0.0086 0.0112 0.0152 
     
GAAP earnings per ADS:    
Basic0.0430 0.0565 0.0765 
Diluted0.0430 0.0560 0.0760 
     
Non-GAAP earnings per share for common shares:    
Basic0.0106 0.0140 0.0260 
Diluted0.0105 0.0140 0.0259 
     
Non-GAAP earnings per ADS:   
Basic0.0530 0.0700 0.1300 
Diluted0.0525 0.0700 0.1295 
     
Weighted average number of common shares used in calculating:    
Basic320,688,429 323,341,607 326,335,266 
Diluted320,922,960 323,491,768 327,853,441 
     
Weighted average number of ADSs used in calculating:    
Basic64,137,686 64,668,321 65,267,053 
Diluted64,184,592 64,698,354 65,570,688 
       

CONTACT:
Investor Relations
Xunlei Limited
Email: ir@xunlei.com
Tel: +86 755 6111 1571
Website: http://ir.xunlei.com


FAQ

What was Xunlei's (XNET) total revenue for Q2 2024?

Xunlei's total revenue for Q2 2024 was $79.6 million, representing a decrease of 23.7% year-over-year.

How did Xunlei's (XNET) subscription business perform in Q2 2024?

Xunlei's subscription revenues increased by 10.8% year-over-year to $32.9 million, with the number of subscribers growing to 5.71 million from 4.72 million a year ago.

What was Xunlei's (XNET) net income for Q2 2024?

Xunlei reported a net income of $2.5 million for Q2 2024, compared to $5.0 million in the same period of 2023.

How much cash and short-term investments did Xunlei (XNET) have as of June 30, 2024?

As of June 30, 2024, Xunlei had cash, cash equivalents, and short-term investments totaling $263.4 million.

What is Xunlei's (XNET) revenue guidance for Q3 2024?

Xunlei estimates total revenues for Q3 2024 to be between $81 million and $86 million, with the midpoint representing a quarter-over-quarter increase of approximately 4.9%.

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116.64M
51.21M
19.13%
4.4%
0.08%
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