Bilibili Inc.BILIEarnings & Financial Report
Bilibili, nicknamed B Site, is a Chinese online video sharing website based in Shanghai where users can submit, view, and add overlaid commentary on videos.
BILI Q4 2025 Key Financial Metrics
营收
$1.3B
毛利润
$470.0M
营业利润
$73.9M
净利润
$75.7M
毛利率
37.0%
营业利润率
5.8%
净利率
6.0%
同比增长
26.2%
EPS
$1.14
资金流向
Bilibili Inc. Q4 2025 Financial Summary
Bilibili Inc. reported revenue of $1.3B (up 26.2% YoY) for Q4 2025, with a net profit of $75.7M (up 143.0% YoY) (6.0% margin). Cost of goods sold was $800.7M, operating expenses totaled $396.1M.
Key Financial Metrics
| Total Revenue | $1.3B |
|---|---|
| Net Profit | $75.7M |
| Gross Margin | 37.0% |
| Operating Margin | 5.8% |
| Report Period | Q4 2025 |
Revenue Breakdown
Bilibili Inc. Q4 2025 revenue of $1.3B breaks down across 5 segments, led by Value-added services (VAS) at $466.4M (36.7% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Value-added services (VAS) | $466.4M | 36.7% |
| Advertising | $435.0M | 34.2% |
| Mobile games | $220.3M | 17.3% |
| Other | $80.8M | 6.4% |
| IP derivatives and others | $68.2M | 5.4% |
Bilibili Inc. Revenue by Segment — Quarterly Trend
Bilibili Inc. revenue by segment across the last 4 reported quarters, showing how each business line (such as Value-added services (VAS) and Advertising) has evolved quarter over quarter.
| Segment | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|
| Value-added services (VAS) | $466.4M | $424.6M | $396.0M | — |
| Advertising | $435.0M | $361.0M | $341.9M | $275.3M |
| Mobile games | $220.3M | $212.2M | $225.1M | $238.6M |
| Other | $80.8M | — | — | — |
| IP derivatives and others | $68.2M | $81.8M | $61.4M | $64.4M |
Bilibili Inc. Annual Revenue by Year
Bilibili Inc. annual revenue history includes year-by-year totals (for example, 2025 revenue was $4.3B). Click any linked year to see what changed vs the prior 10-K.
Bilibili Inc. Quarterly Revenue & Net Profit History
Bilibili Inc. quarterly results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 2025 | $1.3B | +26.2% | $75.7M | 6.0% |
| Q3 2025 | $1.1B | +3.7% | $65.9M | 6.1% |
| Q2 2025 | $1.0B | +21.5% | $30.5M | 3.0% |
| Q1 2025 | $965.1M | +23.0% | $-1.5M | -0.2% |
| Q4 2024 | $1.0B | +11.0% | $-176.0M | -17.5% |
| Q3 2024 | $1.0B | +30.8% | $11.4M | 1.1% |
| Q2 2024 | $843.1M | +15.3% | $83.7M | 9.9% |
| Q1 2024 | $784.5M | +6.3% | $-105.9M | -13.5% |
利润表
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| 营收 | $784.5M | $843.1M | $1.04B | $1.01B | $965.1M | $1.02B | $1.08B | $1.27B |
| 同比增长 | 6.3% | 15.3% | 30.8% | 11.0% | 23.0% | 21.5% | 3.7% | 26.2% |
资产负债表
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| 总资产 | $4.19B | N/A | $32.02B | $4.48B | $4.59B | N/A | $5.61B | $5.89B |
| 总负债 | $2.26B | N/A | $18.30B | $2.55B | $2.60B | N/A | $3.52B | $3.66B |
| 股东权益 | $1.93B | N/A | $13.72B | $1.93B | $1.98B | N/A | $2.09B | $2.23B |
现金流量表
| Q1 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|
| 经营性现金流 | $88.3M | $2.23B | $191.9M | $179.4M | $277.7M | $283.2M | $263.1M |