Quick Summary:
Unaudited Condensed Consolidated Statements of Operations(All amounts in thousands, except for share and per share data) For the Three Months Ended March 31, December 31, March 31, 2024 2024 2025 RMB RMB RMB Net revenues: Value-added services (VAS)2,528,909 3,083,071 2,807,340 Advertising1,668,584 2,388,673 1,997,635 Mobile games982,810 1,797,537 1,731,155 IP derivatives and others484,297 464,880 467,118 Total net revenues5,664,600 7,734,161 7,003,248 Cost of revenues(4,059,240) (4,945,945) (4,464,150)Gross profit1,605,360 2,788,216 2,539,098 Operating expenses: Sales and marketing expenses(927,059) (1,236,593) (1,166,975)General and administrative expenses(531,777) (505,861) (515,638)Research and development expenses(965,120) (919,321) (841,477)Total operating expenses(2,423,956) (2,661,775) (2,524,090)(Loss)/profit from operations(818,596 ) 126,441 15,008 Other income/(expenses): Investment loss, net (including impairments)(21,249) (283,191) (62,203)Interest income133,207 110,150 94,173 Interest expense(31,574) (19,986) (32,571)Exchange (losses)/gains(58,060) 10,529 (11,659)Debt extinguishment loss(20,980) (17,649) - Others, net54,183 139,107 (1,837)Total other income/(expenses), net55,527 (61,040) (14,097)(Loss)/profit before income tax expenses(763,069) 65,401 911 Income tax (expense)/benefit(1,562) 23,533 (11,588)Net (loss)/profit(764,631 ) 88,934 (10,677)Net loss attributable to noncontrolling interests16,086 1,026 1,575 Net (loss)/profit attributable to the Bilibili Inc.'s shareholders(748,545 ) 89,960 (9,102)Net (loss)/profit per share, basic(1.80) 0.22 (0.02)Net (loss)/profit per ADS, basic(1.80) 0.22 (0.02)Net (loss)/profit per share, diluted(1.80) 0.21 (0.02)Net (loss)/profit per ADS, diluted(1.80) 0.21 (0.02)Weighted average number of ordinary shares, basic415,274,340 417,829,038 420,086,397 Weighted average number of ADS, basic415,274,340 417,829,038 420,086,397 Weighted average number of ordinary shares, diluted415,274,340 424,208,294 420,086,397 Weighted average number of ADS, diluted415,274,340 424,208,294 420,086,397 The accompanying notes are an integral part of press release.BILIBILI INC.
Unaudited Condensed Consolidated Balance Sheets(All amounts in thousands, except for share and per share data) December 31, March 31, 2024 2025 RMB RMB Assets Current assets: Cash and cash equivalents10,249,382 9,601,900 Time deposits3,588,475 3,937,921 Restricted cash50,000 50,950 Accounts receivable, net1,226,875 1,007,515 Prepayments and other current assets1,934,788 2,124,271 Short-term investments2,706,535 3,856,835 Total current assets 19,756,055 20,579,392 Non-current assets: Property and equipment, net589,227 522,109 Production cost, net1,851,207 1,753,344 Intangible assets, net3,201,012 3,199,545 Goodwill2,725,130 2,725,130 Long-term investments, net3,911,592 3,919,494 Other long-term assets664,277 581,476 Total non-current assets 12,942,445 12,701,098 Total assets 32,698,500 33,280,490 Liabilities Current liabilities: Accounts payable4,801,416 4,983,062 Salary and welfare payables1,599,482 1,200,571 Taxes payable428,932 376,961 Short-term loan and current portion of long-term debt1,571,836 1,818,124 Deferred revenue3,802,307 3,848,682 Accrued liabilities and other payables2,558,830 2,877,377 Total current liabilities 14,762,803 15,104,777 Non-current liabilities: Long-term debt3,264,153 3,264,089 Other long-term liabilities567,631 531,276 Total non-current liabilities3,831,784 3,795,365 Total liabilities 18,594,587 18,900,142 Total Bilibili Inc.’s shareholders’ equity14,108,397 14,386,407 Noncontrolling interests(4,484) (6,059)Total shareholders’ equity 14,103,913 14,380,348 Total liabilities and shareholders’ equity 32,698,500 33,280,490 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 March 31, December 31, March 31, 2024 2024 2025 RMB RMB RMB Net cash provided by operating activities637,697 1,400,988 1,302,095 BILIBILI INC.
Moving forward, we will continue to focus on profitable growth by scaling our business and community through efficient, sustainable operations, and delivering long-term value to our shareholders.” First Quarter 2025 Financial Results Total net revenues. Total net revenues were RMB7.00 billion (US$965.1 million), representing an increase of 24% from the same period of 2024.
