Xunlei Limited (XNET) Income Statement
XNET 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsXNET revenue and net income
Where XNET's revenue goes
2025Each bar shows an amount and its share of revenue. XNET kept 227.7% of revenue as net income.
XNET profit margins
XNET growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +42.9% | +10.6% | +19.9% | +13.5% |
| Gross profit | +30.2% | +15.5% | +18.4% | +12.1% |
| Operating income | — | −12.9% | — | — |
| Net income | +86,405.1% | +265.9% | — | — |
| EPS (diluted) | +164,200.0% | +342.2% | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
XNET quarterly EPS vs estimates
Next report: November 12, 2026.
XNET income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $461.6M | $323.1M | $363.7M | $341.5M | $238.8M | $186.4M | $180.7M | $230.6M | $200.6M | $156.2M |
| Cost of revenue | $243.5M | $155.6M | $200.6M | $200.1M | $118.6M | $92.6M | $99.9M | $115.7M | $117.9M | $80.3M |
| Gross profit | $218.1M | $167.6M | $163.1M | $141.4M | $120.2M | $93.7M | $80.8M | $114.9M | $82.7M | $75.8M |
| Research & development | $80.0M | $71.6M | $74.2M | $67.7M | $61.9M | $55.5M | $68.6M | $76.8M | $66.9M | $64.4M |
| Sales, general & admin | $131.2M | $90.7M | $90.4M | $64.5M | $61.4M | $52.0M | $70.8M | $76.2M | $56.4M | $45.0M |
| Total operating expenses | $211.5M | $183.3M | $164.7M | $131.4M | $124.5M | $112.5M | $137.2M | $152.9M | $123.4M | $109.3M |
| Operating income | $6.6M | −$15.7M | −$1.6M | $10.1M | −$4.3M | −$18.8M | −$56.4M | −$44.3M | −$54.2M | −$33.5M |
| Interest income | $3.3M | $4.9M | $6.0M | $1.9M | $723,000 | $1.5M | $1.9M | $1.2M | $2.0M | $2.2M |
| Interest expense | $1.7M | $728,000 | $1.5M | $93,000 | $95,000 | $406,000 | $75,000 | $239,000 | $239,000 | $239,000 |
| Income before taxes | $1.05B | −$2.4M | $18.4M | $25.4M | $983,000 | −$13.0M | −$48.7M | −$40.9M | −$46.5M | −$25.2M |
| Income taxes | −$1.3M | −$3.0M | $4.1M | $4.1M | −$125,000 | $1.1M | $4.7M | −$89,000 | −$2.3M | −$1.3M |
| Net income | $1.05B | $1.2M | $14.2M | $21.5M | $1.2M | −$13.8M | −$53.2M | −$39.3M | −$37.8M | −$24.1M |
| EBITDA | $1.06B | $5.3M | $26.0M | $29.3M | $10.5M | $1.6M | −$36.0M | −$33.5M | −$36.2M | −$24.6M |
| EPS (diluted) | $16.43 | $0.01 | $0.22 | $0.19 | $0.01 | −$1.04 | −$0.63 | −$0.42 | −$0.13 | −$0.43 |
| Gross margin | 47.2% | 51.9% | 44.8% | 41.4% | 50.3% | 50.3% | 44.7% | 49.8% | 41.2% | 48.6% |
| Operating margin | 1.4% | −4.9% | −0.4% | 2.9% | −1.8% | −10.1% | −31.2% | −19.2% | −27.0% | −21.4% |
| Net margin | 227.7% | 0.4% | 3.9% | 6.3% | 0.5% | −7.4% | −29.4% | −17.0% | −18.9% | −15.4% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $102.3M | $98.1M | $143.1M | $125.9M | $103.5M | $88.5M | $84.0M | $79.8M | $79.3M | $80.0M | $76.9M | $83.9M |
| Cost of revenue | $44.9M | $40.4M | $81.2M | $65.4M | $52.3M | $44.4M | $40.4M | $39.4M | $38.6M | $37.1M | $36.8M | $46.4M |
| Gross profit | $57.4M | $57.7M | $61.9M | $60.5M | $51.2M | $44.1M | $43.6M | $40.5M | $40.7M | $42.8M | $40.1M | $37.5M |
| Research & development | $21.4M | $20.2M | $21.9M | $21.0M | $18.4M | $18.7M | $18.7M | $17.7M | $17.5M | $17.6M | $19.5M | $19.5M |
| Sales, general & admin | $40.6M | $33.3M | $35.6M | $36.7M | $31.4M | $27.3M | $24.6M | $22.8M | $22.1M | $21.2M | $21.0M | $20.6M |
| Total operating expenses | $62.2M | $53.4M | $57.2M | $57.8M | $50.1M | $46.0M | $64.1M | $40.6M | $39.7M | $38.8M | $40.8M | $40.1M |
| Operating income | −$4.8M | $4.3M | $4.7M | $2.7M | $1.1M | −$1.9M | −$20.5M | −$174,000 | $967,000 | $4.0M | −$687,000 | −$2.5M |
| Interest income | $907,000 | $771,000 | $511,000 | $640,000 | $1.0M | $1.1M | $1.2M | $1.2M | $1.3M | $1.2M | $2.7M | $1.2M |
| Interest expense | $413,682 | $529,000 | $578,513 | $574,758 | $328,000 | $220,000 | $139,000 | $165,000 | $182,000 | $242,000 | $300,000 | $361,000 |
| Income before taxes | −$218.4M | −$190.5M | −$229.0M | $550.5M | $723.6M | $199,000 | −$18.0M | $5.7M | $4.6M | $5.3M | $3.9M | $5.6M |
| Income taxes | $477,788 | $1.9M | $917,988 | $469,000 | −$3.8M | $1.1M | $8.1M | $1.3M | $2.1M | $1.7M | $137,000 | $1.3M |
| Net income | −$218.8M | −$174.6M | −$229.8M | $550.3M | $727.6M | −$800,000 | −$9.8M | $4.6M | $2.8M | $3.6M | $3.7M | $4.4M |
| EBITDA | −$4.8M | −$190.0M | −$218.9M | $552.7M | $723.9M | $2.0M | $1.6M | $5.9M | $4.8M | $5.5M | $251,000 | $6.0M |
| EPS (diluted) | −$0.05 | $0.05 | −$3.66 | $8.61 | $11.48 | −$0.01 | −$0.16 | $0.07 | $0.04 | $0.06 | $0.06 | $0.07 |
| Gross margin | 56.1% | 58.8% | 43.3% | 48.1% | 49.5% | 49.9% | 51.9% | 50.7% | 51.3% | 53.6% | 52.1% | 44.7% |
| Operating margin | −4.7% | 4.4% | 3.3% | 2.2% | 1.1% | −2.1% | −24.4% | −0.2% | 1.2% | 5.0% | −0.9% | −3.0% |
| Net margin | −213.9% | −178.0% | −160.5% | 437.0% | 702.7% | −0.9% | −11.6% | 5.8% | 3.5% | 4.5% | 4.9% | 5.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in XNET's financial statements (latest annual report filed April 28, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
XNET financial results
In fiscal year 2025 (ended December 31, 2025), Xunlei reported revenue of $461.6 million, up 42.9% from the year before. It had net income of $1.1 billion (up 86,405.1%), a net profit margin of 227.7%. Diluted earnings per share came to $16.43. Over five years revenue grew at an average rate of 19.9% a year.
See the XNET stock overview for the latest quote and news, or the XNET chart for price history and technical indicators.
XNET income statement FAQ
What is Xunlei's annual revenue?
Xunlei reported total revenue of $461.6 million for fiscal year 2025, which ended on December 31, 2025. That was up 42.9% from $323.1 million the previous year.
Is Xunlei profitable?
Yes. Xunlei reported net income of $1.1 billion in fiscal 2025, a net profit margin of 227.7%; its operating margin was 1.4%.
What is Xunlei's gross margin?
Xunlei's gross margin was 47.2% in fiscal 2025: for every $100 of revenue, Xunlei kept $47 after the direct cost of its products and services.
How much does Xunlei spend on research and development?
Xunlei spent $80.0 million on research and development in fiscal 2025, 17.3% of revenue.
How fast is Xunlei growing?
Revenue grew 19.9% a year on average over the last five fiscal years, from $186.4 million to $461.6 million.
What are Xunlei's earnings per share?
Xunlei earned $16.43 per diluted share in fiscal 2025, compared with $0.01 a year earlier.
When will Xunlei report its next earnings?
Xunlei is expected to report results for the quarter ending September 30, 2026 on November 12, 2026 before the market opens.
When does Xunlei's fiscal year end?
Xunlei's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on April 28, 2026.