Xunlei Releases First Quarter 2026 Financial Results: Total Revenue of $98.6 Million, Up 54.1% Year-over-Year

On May 28, 2026, Xunlei released its unaudited financial results for the first quarter ended March 31, 2026. The report shows that the company achieved total revenue of $98.6 million this quarter, an increase of 54.1% year-over-year.

In terms of profitability, the company reported gross profit of $57.7 million, up 45.8% year-over-year, with a gross margin of 58.5%. The improvement in gross profit was primarily driven by growth in its membership services and overseas social business. On a non-GAAP basis, net income from continuing operations was $4.1 million.

Li Jinbo, Chairman and CEO of Xunlei, stated, 'In the first quarter, we achieved strong growth and key strategic upgrades. Synergies across all business lines drove total revenue to grow by 54.1% year-over-year. Membership revenue increased by 26.2%, benefiting from continuous enhancements in product experience, while overseas live streaming revenue surged by 89.3%, fully demonstrating our team's agility in product iteration and localized overseas operations. We are delighted to see Xunlei becoming increasingly recognized, trusted, and anticipated by a growing global user base.'

Membership Business Continues to Grow; Overseas Expansion Emerges as Second Growth Engine

Revenue from the membership business reached USD 45 million, an increase of 26.2% year-over-year, driven by sustained user demand and continuous improvements in service experience. Revenue from live streaming and other services amounted to USD 53.6 million, up 89.3% year-over-year. Notably, this segment has achieved substantial year-over-year revenue growth for six consecutive quarters, signaling accelerated expansion of Xunlei’s overseas business, a further broadened global user base, and its emergence as the company's second growth curve.

Increased R&D investment fuels innovation, supported by strong cash flow for long-term growth

Xunlei has consistently prioritized technology as the core driver of its development. In the first quarter, R&D expenses totaled USD 20.2 million, representing 20.4% of total revenue. The company aims to drive continuous product innovation and iteration through sustained high R&D investment, delivering richer and more efficient user experiences.

Meanwhile, the company maintains a solid financial foundation: as of March 31, 2026, Xunlei held USD 303.6 million in cash, cash equivalents, and short-term investments combined, providing robust support for business innovation and strategic expansion.

‘We will remain steadfast in putting user value at the core, leveraging our technological innovation and operational strengths to actively explore new growth opportunities and continuously deliver long-term value to shareholders,’ concluded Li Jinbo.

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