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DouYu International Holdings Limited Reports Fourth Quarter and Full Year 2025 Unaudited Financial Results

DOYU
  • DouYu International Holdings Limited announced unaudited financial results for the fourth quarter and full year ended December 31, 2025.
  • Fourth quarter 2025 total net revenues were RMB918.8 million (US$131.4 million), a 19.1% decrease from RMB1,136.0 million in the same period of 2024.
  • Full year 2025 total net revenues were RMB3,818.9 million (US$546.1 million), a decrease from RMB4,270.8 million in 2024.
  • Fourth quarter 2025 gross profit was RMB118.0 million (US$16.9 million), an increase from RMB69.8 million in 2024, with gross margin rising to 12.8% from 6.1%.
  • Full year 2025 gross profit was RMB489.5 million (US$70.0 million), compared to RMB323.8 million in 2024, resulting in a gross margin of 12.8%.
  • Fourth quarter 2025 income from operations was RMB4.7 million (US$0.7 million), compared to a loss of RMB192.9 million in 2024.
  • Full year 2025 net loss was RMB29.1 million (US$4.2 million), a significant improvement from a loss of RMB306.8 million in 2024.
  • Fourth quarter 2025 adjusted net income (non-GAAP) was RMB12.6 million (US$1.8 million), compared to an adjusted net loss of RMB78.2 million in 2024.
  • Full year 2025 adjusted net income (non-GAAP) was RMB40.2 million (US$5.7 million), compared to an adjusted net loss of RMB249.2 million in 2024.
  • Livestreaming revenues in Q4 2025 decreased by 29.8% to RMB513.0 million due to fewer paying users and reduced consumer spending.
  • Innovative business, advertising, and other revenues in Q4 2025 increased by 0.2% to RMB405.8 million, driven by voice-based social networking growth.
  • Average mobile MAUs in Q4 2025 were 27.6 million, down from 30.5 million in Q3 2025, attributed to cost optimization and reduced low-ROI events.
  • Quarterly average paying users for live streaming in Q4 2025 were 2.6 million with an ARPPU of RMB230.
  • Voice-based social networking revenues in Q4 2025 reached RMB271.0 million with 63,600 monthly average paying users.
  • Cash and cash equivalents, restricted cash, and bank deposits totaled RMB2,283.7 million (US$326.6 million) as of December 31, 2025, down from RMB4,467.8 million in 2024 due to a US$300 million special cash dividend.
  • Sales and marketing expenses in Q4 2025 decreased by 40.0% to RMB47.6 million, while general and administrative expenses dropped by 62.6% to RMB26.8 million.
  • DouYu refreshed its brand image with the new slogan "See Every Passion" and resumed in-person events including the Optics Valley ESports Carnival.