Xunlei Announces Unaudited Financial Results for the First Quarter Ended March 31, 2026

Xunlei Limited, a Shenzhen-based technology company specializing in distributed cloud services, announced its unaudited financial results for the first quarter ended March 31, 2026. Total revenues reached US$98.6 million, marking a 54.1% increase year-over-year, primarily due to growth in subscription services and overseas audio live-streaming. Subscription revenues grew 26.2% to US$45.0 million, reflecting higher demand for its offerings. Live-streaming and other services revenue surged 89.3% to US$53.6 million, driven by expansion in its overseas audio live-streaming business. Despite these gains, gross profit margin slightly declined to 58.5% from 61.9% in Q1 2025, while costs of revenues rose to US$40.4 million, up from US$24.1 million. The company reported a net loss of US$192.4 million for the quarter, a significant increase from a US$0.2 million loss in the same period last year. However, non-GAAP net income improved to US$4.1 million, up from US$0.9 million in Q1 2025. Diluted loss per ADS widened to US$3.06, while non-GAAP diluted earnings per ADS rose to US$0.07. Xunlei attributed its revenue growth to steady user expansion, product enhancements, and localized operations, particularly in its overseas audio live-streaming segment. The company emphasized its strong liquidity position and plans to leverage technology and operational expertise for future initiatives, aiming to create long-term value for shareholders. Management highlighted the company’s agility in adapting to market demands and its commitment to community-driven product updates and partnerships. The financial results exclude Shenzhen Onething, a discontinued operation, and reflect continued focus on core distributed cloud services.