Xunlei's total revenue for last year was $462 million, a year-over-year increase of 42.5%.

On March 12, Xunlei announced its unaudited financial results for the fourth quarter and full year of 2025, ending December 31, 2025. The company’s total revenue for the full year reached $462.4 million, a 42.5% increase year-over-year; revenue for the fourth quarter was $143.3 million, up 70% year-over-year; and the full-year GAAP net profit was $1.0476 billion. Overseas business performed particularly well, with full-year overseas revenue growing 97.5% year-over-year, accounting for 24.9% of total revenue.

Chairman and CEO Li Jinbo stated that both the fourth quarter and full year of 2025 saw strong financial growth across all core business segments, especially benefiting from the expansion of overseas voice live streaming services, which doubled in size.

As one of Xunlei’s main revenue sources, membership services achieved solid results in 2025. Full-year membership revenue was $154.8 million, a 15.8% increase; fourth-quarter revenue was $42.1 million, up 22.4%. In 2025, Xunlei upgraded its technology and products around the universal acceleration platform, continuously enhancing experiences in downloading, cloud storage, and playback acceleration, turning membership into a new growth driver. Specifically, in product development, Xunlei launched one-click download large model features for specific scenarios and integrated the MCP protocol to allow users to build their own download agents, providing an optimal product experience. In marketing, Xunlei adopted more diverse customer acquisition methods.

Live streaming and other internet value-added services also gained momentum, doubling in the fourth quarter of 2025. Full-year revenue reached $170.2 million, a 97.5% increase; fourth-quarter revenue was $55.1 million, up 102.8%. Revenue growth was mainly driven by increased income from overseas voice live streaming and advertising revenue contributed by the acquisition of Hupu. It is understood that Xunlei’s overseas voice live streaming business has achieved significant growth in emerging markets such as Southeast Asia, the Middle East, and North Africa, leveraging advantages in product optimization, user interaction, and operations. Currently, this business is approaching the top tier in revenue capability.

Xunlei’s second growth curve is gradually emerging, with revenue diversification from a single membership income to overseas voice live streaming and strategic investments.

Last year, the company’s R&D expenses were $80 million, accounting for 17.3% of total revenue; in the fourth quarter, R&D expenses were $21.9 million. In 2025, Xunlei launched a decentralized technology solution that provides smoother video viewing in browsers, which has already partnered with several major mobile phone manufacturers.

Long-term investments in Ying Shi Innovation have brought substantial returns, and the advertising revenue from the acquisition of Hupu has begun to contribute additional income. Recently, the company also announced the sale of a 50% stake in its cloud computing business to focus on strategic priorities, optimize resource allocation, and reduce financial and operational risks. Meanwhile, Xunlei retained a 20% stake in Wangxin, continuing to share in its future growth.

The financial report shows that as of December 31, 2025, the company held $305.2 million in cash, cash equivalents, and short-term investments.

Li Jinbo stated that 2026 will be a critical year for Xunlei’s development, with a more focused business portfolio to provide users with ultimate internet entertainment products and services. The company will leverage its technological advantages and stable asset structure to continuously seek synergistic growth opportunities and enhance its competitiveness.