Shulou(Shulou.com)11/24 Report--

Thanks to CTOnews.com netizens for the delivery of clues about the past. CTOnews.com March 17 news, CTOnews.com learned from Xunlei official that today Xunlei announced unaudited financial results for the fourth quarter up to December 31, 2022 and the whole year of 2022.

In fiscal year 2022, Xunlei's total revenue was $342.6 million, up 43.0% from a year earlier; the company's gross profit was $141.4 million, up 17.7% from a year earlier; and its gross profit margin was 41.3%. Based on US GAAP, full-year net profit was $21.3 million in 2022, compared with $1.1 million in 2021. Based on non-GAAP, net profit for the year was $29.5 million, compared with $7.3 million in 2021.

Thanks to the growth in revenue from cloud computing and live streaming, Xunlei's total revenue in the fourth quarter was $97 million, up 36.3% from the same period last year; the company's gross profit was $37.6 million, up 13.1% from the same period last year; gross profit was 38.8%; based on general accounting standards, the fourth quarter net profit was $1.6 million, compared with $8.3 million in the previous quarter, and net profit increased by 408.6% compared with the fourth quarter of 2021. Based on non-GAAP, net profit was $3.5 million, compared with $9 million in the previous quarter. Total revenue in the fourth quarter exceeded the upper limit of the company's expected guidance.

Li Jinbo, chairman and CEO of Xunlei, said: "our fiscal year 2022 ended perfectly with a record fourth quarter revenue of $97 million, an increase of 9.8% month-on-month and 36.3% year-on-year. Total revenue in fiscal 2022 was $342.6 million, up 43.0% from a year earlier; in addition, last quarter we mentioned that we expected to make a full-year profit, and we did. The net profit for fiscal year 2022 was 21.3 million US dollars, an increase of 1825.3% over the same period last year. Both quarterly and annual revenue reached the highest level in the company's 20-year history. We are satisfied with what we have achieved over the past year, thanks to our diversified and flexible business model, strong R & D capabilities and good customer value proposition. "

Financial results show that in fiscal year 2022, Thunderbolt's three major businesses have maintained a strong upward trend. Revenue from the live broadcast and other Internet services business for the whole fiscal year was $122.4 million, up 128.2% from a year earlier, of which revenue in the fourth quarter was $40.2 million, up 108.6% from a year earlier. The growth of the business is mainly due to increased demand for live streaming products launched in 2021 and enhanced liquidity.

Revenue from the membership business in fiscal 2022 was $100.6 million, up 10.3 per cent from a year earlier, and revenue in the fourth quarter was $24.9 million, up 5.2 per cent from a year earlier. The number of members increased from about 4.39 million at the end of 2021 to about 4.99 million at the end of 2022, and quarterly membership increased by about 620000 in the fourth quarter of 2022. In the fourth quarter of 2022, the average revenue per member was 35.4 yuan, compared with 39.1 yuan in the previous quarter. The decrease in average revenue per member compared with the previous quarter is due to more marketing activities carried out by members in the fourth quarter.

In fiscal year 2022, cloud computing revenue exceeded 100 million, reaching $119.6 million, up 26.2% from a year earlier, and revenue in the fourth quarter was $31.9 million, up 13.1% from a year earlier. The growth of cloud computing business is mainly due to the expansion of the carrying capacity of the service and the increase in demand from major customers, resulting in an increase in sales of cloud computing services.

In fiscal year 2022, Thunderbolt's R & D expenses continued to rise to US $67.7 million, compared with US $61.9 million the previous year. Compared with the previous year, the increase in R & D costs was due to higher labor costs caused by salary adjustment and recruitment. Of this total, R & D expenditure in the fourth quarter was US $19.2 million, accounting for 19.8% of the total revenue in the fourth quarter.

In addition, Xunlei has plenty of cash and strong financial liquidity. As of December 31, 2022, the company had cash, cash equivalents and short-term investments of $262.3 million.

Mr. Li Jinbo looked ahead: "at the end of last year, we moved into the headquarters building and got off to a good start in 2023. We believe that we will be in a better position than ever to explore exciting new opportunities. Looking to the future, we will begin a new journey, we are full of confidence in the development opportunities we face, and will persevere in implementing the company's development strategy."

Thunderbolt expects total revenue in the first quarter of 2023 to range from $98 million to $104 million. On average, revenue grew by about 4.1% in the first quarter compared with the previous quarter. This prospect only reflects the preliminary view of Xunlei at present and is likely to change in the future.

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