Sina Science and Technology News in the morning of May 24, Beijing timebilibili(Nasdsaq:BILI) today released its results for the first quarter of fiscal year 2018 ended March 31. The report showsbilibiliTotal net income in the first quarterRMB868 million yuan ($138.4 million), up 105% from the same period last year, and a net loss of 57.8 million yuan ($9.2 million), narrowed from a net loss of 67.4 million yuan in the same period last year. This is the first financial report released by Bilibili Inc. after going public in the United States IPO (initial public offering).
Main achievements:
Bilibili Inc. 's total net income in the first quarter reached 868 million yuan (US $138.4 million), an increase of 105% over the same period last year.
-Bilibili Inc. posted a net loss of 57.8 million yuan ($9.2 million) in the first quarter, with a net loss rate of 7%, compared with a net loss of 67.4 million yuan and a net loss rate of 16% in the same period last year.
-not in accordance with US GAAP, Bilibili Inc. 's adjusted net loss in the first quarter was 3.2 million yuan (US $500000), and the adjusted net loss rate was 0.4%. Compared with the same period last year, the adjusted net loss was 59.6 million yuan, and the adjusted net loss rate was 14%.
-Bilibili Inc. 's average number of monthly active users (MAU) reached 77.5 million in the first quarter, an increase of 35% compared with the same period last year. Bilibili Inc. 's monthly mobile active users accounted for 82% of the total monthly active users in the first quarter.
-the average number of monthly paying users of Bilibili Inc. reached 2.5 million in the first quarter, an increase of 190% over the same period last year. The average number of monthly paying users of Bilibili Inc. 's mobile games reached 800000 in the first quarter, an increase of 79 per cent compared with the same period last year.
Financial Analysis:
Total net revenue
Bilibili Inc. 's total net income in the first quarter reached 868 million yuan ($138.4 million), an increase of 105 per cent compared with the same period last year.
Bilibili Inc. 's revenue from mobile games in the first quarter was 688.5 million yuan ($109.8 million), up 97% from the same period last year. This growth is mainly due to the increase in the demeanor of mobile games such as "Fate/Grand Order" and "Azur Lane".
Bilibili Inc. 's revenue from live streaming and value-added services was 95.8 million yuan ($15.3 million) in the first quarter, up 151% from the same period last year. This growth is mainly due to the company's increased efforts in commercialization and the promotion of value-added services.
Bilibili Inc. 's revenue from advertising in the first quarter was 70.4 million yuan ($11.2 million), up 144% from the same period last year. This growth is due to an increase in brand advertising and new effect ads, which are attracted by the high-quality traffic on the company's platforms.
Bilibili Inc. 's other income in the first quarter was 13.3 million yuan ($2.1 million), up 65% from the same period last year. The increase was mainly due to an increase in sales of products sold through the company's e-commerce platform.
Revenue cost
Bilibili Inc. 's revenue and cost in the first quarter was 654.9 million yuan ($104.4 million), up 80 percent from 363 million yuan in the same period last year. Bilibili Inc. 's first-quarter revenue-sharing expenses, the main component of revenue costs, were 334.5 million yuan ($53.3 million), up 120% from the same period last year.
Gross profit
Bilibili Inc. 's first-quarter gross profit was 213.1 million yuan ($34 million), up 249% from the same period last year.
Total operating expenses
Bilibili Inc. 's total operating expenses were 287.4 million yuan ($45.8 million) in the first quarter, up 107 per cent from the same period last year.
Bilibili Inc. spent 78.9 million yuan ($12.6 million) on sales and marketing in the first quarter, up 93% from the same period last year. This growth is mainly due to an increase in channel and marketing spending related to Bilibili Inc. 's application, as well as an increase in promotional spending on the company's mobile games.
Bilibili Inc. 's general and administrative expenses in the first quarter were 102.6 million yuan (16.4 million U.S. dollars), an increase of 140 percent compared with the same period last year. This increase is mainly due to an increase in equity incentive expenditure and professional service fees related to an IPO condition.
Bilibili Inc. spent 105.9 million yuan ($16.9 million) on research and development in the first quarter, up 92 per cent from the same period last year. This growth is mainly due to the increase in R & D personnel.
Operating loss
Bilibili Inc. posted an operating loss of 74.3 million yuan ($11.8 million) in the first quarter, compared with 77.7 million yuan in the same period last year.
Bilibili Inc. 's income tax expenses were 3.2 million yuan ($500000) in the first quarter, compared with 1.8 million yuan in the same period last year.
Net loss
Bilibili Inc. posted a net loss of 57.8 million yuan ($9.2 million) in the first quarter, compared with a net loss of 67.4 million yuan in the same period last year.
Not in accordance with US general accounting standards (excluding equity incentive expenses and amortization expenses related to intangible assets acquired through commercial mergers and acquisitions), Bilibili Inc. 's adjusted net loss in the first quarter was 3.2 million yuan ($500000). This is 95 per cent lower than the adjusted net loss of 59.6 million yuan in the same period last year.
Bilibili Inc. 's basic and diluted losses per share in the first quarter were both 1.73 yuan ($0.28), compared with 1.69 yuan in the same period last year. Not in accordance with US general accounting standards, Bilibili Inc. 's basic and diluted losses per share in the first quarter were 94 yuan ($0.15), compared with 1.58 yuan in the same period last year.
Cash flow and working capital
Bilibili Inc. 's cash and cash equivalents and term deposits totaled 1.1 billion yuan ($167.9 million) as of March 31, 2018, compared with 764.8 million yuan as of December 31, 2017.
The net cash provided by Bilibili Inc. 's operating activities in the first quarter was 471.1 million yuan ($75.1 million), compared with $205.9 million in the same period last year.
Recent development
On April 2, 2018, Bilibili Inc. completedNASDAQThe global select market issues 42 million American depositary shares for IPO transactions, each of which represents one Class Z common share of the company. After deducting the underwriting discount and commission and the company's estimated issuance expenses, Bilibili Inc. earned a total net income of about $443.3 million from the IPO transaction.
Performance outlook:
Bilibili Inc. currently expects the company's net revenue in the second quarter of 2018 to be between 970 million yuan and 1 billion yuan. This outlook is based on current market conditions and reflects the company's initial expectations of the market and operational markets as well as customer demand, which may change in the future.
After the release of the results, Bilibili Inc. 's management team will hold a conference call at 9: 00 p.m. est (9: 00 a.m. on May 24, Beijing / Hong Kong time) to interpret the main points of the results and answer questions from investors and analysts.
United States: + 1-866-519-4004
International: + 65-6713-5090
Hong Kong, China: + 800-906-601
Mainland China: 400,620,8038
Conference ID:4369088
After the conference call, until May 30, 2018, you can repeat it by dialing the following number:
United States: + 1-855-452-5696
International: + 61-2-8199-0299
Hong Kong, China: + 800-963-117
Mainland China: 400,632-2162
Conference ID:4369088
In addition, Bilibili Inc. investor relations channel http://ir.bilibili.com will broadcast the conference call live and provide audio recordings.
Changes in stock prices:
On the same day, Bilibili Inc. 's share price wasNASDAQIn regular trading, it fell $0.7, or 5.33%, to $12.44. In after-hours trading as of 7: 50 p.m. eastern time on the 23rd (7: 50 a.m. on the 24th Beijing time), Bilibili Inc. shares rose 1.04 U.S. dollars, or 8.36 percent, to 13.48 dollars. In the past 52 weeks, Bilibili Inc. 's highest price is $14.87 and the lowest price is $9.62. (Tang Feng)