GlobeNewswire·Nov 12, 2026, 5:00 AM ET

Xunlei Announces Unaudited Financial Results for the Third Quarter Ended September 30, 2026

XNET

Xunlei Limited reported total revenues of US$101.3 million for the third quarter ended September 30, 2026, an increase of 12.9% year-over-year.
Subscription revenues reached US$44.1 million, up 8.5% year-over-year, while live-streaming and other services revenues rose 16.6% to US$57.2 million.
Gross profit was US$56.5 million with a margin of 55.7%, a decrease from 62.0% in the same period of 2025 due to a higher proportion of lower-margin live-streaming revenues.
Net loss from continuing operations was US$235.8 million compared to a net income of US$550.4 million in the prior year, driven by fair value losses on long-term investments and increased operating expenses.
Non-GAAP net loss from continuing operations was US$16.4 million, contrasting with a non-GAAP net income of US$5.6 million in the same period of 2025.
Diluted loss per ADS from continuing operations was US$3.74, compared to diluted earnings of US$8.61 per ADS in the third quarter of 2025.
Research and development expenses increased to US$25.6 million, sales and marketing expenses rose to US$33.3 million, and general and administrative expenses grew to US$12.4 million.
Other losses, net were US$219.2 million, primarily attributed to fair value changes in the long-term investment in Arashi Vision Inc. following its IPO.
The company spent US$13.8 million to repurchase approximately 2.7 million ADSs under a completed share repurchase program authorized in June 2026.
On November 12, 2026, the Board approved a new share repurchase program allowing the buyback of up to US$20 million in ADSs or common shares over the next 12 months.
As of September 30, 2026, the company held cash, cash equivalents, and short-term investments of US$265.1 million, a decrease from US$276.9 million at the end of June 2026.
Management plans to focus on refining product features, expanding localized overseas operations, and balancing growth investments with operational discipline.

Company: Xunlei Limited
Keywords: Nasdaq:XNET, Xunlei Limited