BILIBILI(BILI) - 2024 Q3 - Quarterly Results

Revenue Growth - Total net revenues were RMB7.31 billion (US$1,041.0 million), representing a 26$259.7 million), representing an 84% year-over-year increase[2] - Mobile games revenue for the three months ended September 30, 2024, increased by 81.0% to RMB 1,822,609 thousand compared to RMB 1,007,367 thousand in the previous quarter[27] - Advertising revenues were RMB2.09 billion (US$298.5 million), representing a 28$363.0 million), representing a 76% year-over-year increase, with gross profit margin reaching 34.9%[2] - Gross profit for the three months ended September 30, 2024, was RMB 2,547,186 thousand, a 38.9% increase from RMB 1,833,201 thousand in the previous quarter[27] - Net loss narrowed by 94% year-over-year to RMB79.8 million (US$11.4 million)[2] - Net loss attributable to Bilibili Inc.'s shareholders for the three months ended September 30, 2024, decreased significantly to RMB 79,515 thousand from RMB 608,700 thousand in the previous quarter[27] - Adjusted net profit was RMB235.9 million (US$33.6 million), compared with an adjusted net loss of RMB863.5 million in the same period last year[2] - Adjusted net profit for the three months ended September 30, 2024 was RMB 235.9 million, compared to an adjusted net loss of RMB 270.99 million for the three months ended June 30, 2024[31] - Adjusted net loss for the nine months ended September 30, 2024 was RMB 490.97 million, an improvement from the adjusted net loss of RMB 2.86 billion for the nine months ended September 30, 2023[31] - Adjusted net profit per share for the three months ended September 30, 2024 was RMB 0.57, compared to an adjusted net loss per share of RMB 0.65 for the three months ended June 30, 2024[32] - Adjusted net loss per share for the nine months ended September 30, 2024 was RMB 1.14, an improvement from the adjusted net loss per share of RMB 6.95 for the nine months ended September 30, 2023[32] - Adjusted net profit attributable to Bilibili Inc.'s shareholders for the three months ended September 30, 2024 was RMB 236.19 million, compared to an adjusted net loss of RMB 2.87 billion for the nine months ended September 30, 2023[31] User Metrics - Average daily active users (DAUs) reached 107.3 million, compared with 102.8 million in the same period last year[2] Cash Flow and Financial Position - Operating cash flow was RMB2.23 billion (US$317.1 million), compared with RMB277.4 million in the same period last year[2] - Cash flow from operating activities for the three months ended September 30, 2024, was RMB 2,225,629 thousand, a 27.1$2.17 billion) as of September 30, 2024[15] - Cash and cash equivalents as of September 30, 2024, were RMB 7,463,154 thousand, a 3.8% increase from RMB 7,191,821 thousand as of December 31, 2023[29] - Total assets as of September 30, 2024, were RMB 32,021,300 thousand, a 3.4% decrease from RMB 33,159,067 thousand as of December 31, 2023[29] Share Repurchase and Compensation - The company announced a share repurchase program of up to US$200 million over the next 24 months[17] - Share-based compensation expenses for the three months ended September 30, 2024, were RMB 297,111 thousand, a 14.5% increase from RMB 259,479 thousand in the previous quarter[28] - Share-based compensation expenses for the three months ended September 30, 2024 were RMB 297.11 million, compared to RMB 259.48 million for the three months ended June 30, 2024[31] Operating Expenses - Total operating expenses for the three months ended September 30, 2024, were RMB 2,613,865 thousand, an 8.1% increase from RMB 2,418,336 thousand in the previous quarter[27] - Research and development expenses for the three months ended September 30, 2024, were RMB 906,072 thousand, a 1.3% increase from RMB 894,701 thousand in the previous quarter[27] - Amortization expense related to intangible assets for the three months ended September 30, 2024 was RMB 41.78 million, consistent with the previous quarter[31] Other Financial Metrics - Weighted average number of ordinary shares for the three months ended September 30, 2024 was 417.85 million, a slight increase from 416.29 million in the previous quarter[32] - Adjusted loss from operations for the three months ended September 30, 2024 was RMB 523.91 million, compared to an adjusted loss of RMB 2.75 billion for the nine months ended September 30, 2023[31] - Net loss attributable to noncontrolling interests for the three months ended September 30, 2024 was RMB 15.83 million, compared to a net loss of RMB 10.81 million for the nine months ended September 30, 2023[31]