MARKETS / NASDAQ / XNET

NASDAQ · SERVICES-PREPACKAGED SOFTWARE · MID CAP

Xunlei Ltd. XNET

14 fiscal years on record · USD · FY2025 reported · SEC filings only

Revenue

$462.4M

▲ 42.5% YoY

Net income

$1.0B

▲ 86177.0% YoY

Free cash flow

$27.1M

▲ 18.2% YoY

In brief

What this company does

Xunlei Ltd operates an internet platform in China based on cloud technology that enables users to access, store, manage and consume digital media content. The company's total revenues decreased from US$364.9 million in 2023 to US$324.4 million in 2024, and increased to US$462.4 million in 2025. Xunlei Accelerator had approximately 50.5 million monthly unique visitors in December 2025. The company provides subscription services offering faster download acceleration, more reliable access and larger cloud storage for digital media content. It offers cloud computing services by crowdsourcing idle bandwidth capacity and storage from users, delivering computing resources to third parties such as internet content providers through its CDN services. The company has ceased providing audio and video live-streaming services in China, while continuing to provide audio live-streaming services in overseas markets.

Written from the business description in Xunlei Ltd's annual report to the U.S. Securities and Exchange Commission, filed 28 April 2026. Every sentence was checked against that document before publication.

Growth

USD 462.4M

Revenue, FY2025 · full 14-year series below

Revenue $B Net income $B

FY2025 · Revenue 0.5 · Net income 1.0

Compound annual growth

Revenue

+10.5%

+19.9%

+16.0%

Net income

+265.5%

EPS, diluted

+273.1%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +19.9% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

227 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Operating 1.4% · Net 226.6%

ROE

FY2025 · ROE 123.9%

Gross margin47.0%

Operating margin1.4%

Net margin226.6%

Return on assets99.5%

EBITDAUSD 11.6M

Each USD of equity produced 124 cents of profit this year.

Cash & shareholders

—

returned in FY2025 · dividends + net buybacks

Free cash flow $M

FY2025 · FCF 27.1

Net buybacks $M Dividends $M

FY2016 · Dividends — · Net buybacks 0.7

Total assetsUSD 1.6B

EquityUSD 1.4B

CashUSD 157.0M

Gross debtUSD 42.0M

Net debtUSD -115.0M

Current ratio1.92×

The company holds more cash than debt.

The 14-year record

14 fiscal years

Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012
Revenue $B	0.5	0.3	0.4	0.3	0.2	0.2	0.2	0.2	0.2	0.1	0.1	0.1	0.1	0.1
Operating income $B	0.0	−0.0	−0.0	0.0	−0.0	−0.0	−0.1	−0.0	−0.1	−0.0	−0.0	0.0	0.0	0.0
EBITDA $B	0.0	−0.0	0.0	0.0	0.0	−0.0	−0.1	−0.0	−0.0	−0.0	−0.0	0.0	0.0	0.0
Income tax $B	−0.0	−0.0	0.0	0.0	−0.0	0.0	0.0	−0.0	−0.0	−0.0	−0.0	0.0	0.0	0.0
Net income $B	1.0	0.0	0.0	0.0	0.0	−0.0	−0.1	−0.0	−0.0	−0.0	−0.0	0.0	0.0	0.0
Free cash flow $B	0.0	0.0	0.0	0.0	0.0	−0.0	−0.0	−0.0	−0.0	0.0	0.0	0.0	0.1	0.1
EPS, diluted $	3.31	0.00	0.04	0.06	0.00	−0.04	−0.16	−0.12	−0.11	−0.07	−0.04	−0.54	0.01	0.01
Dividend / sh $	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout %	·	·	·	·	·	·	·	·	·	·	·	·	·	·
ROE %	123.9	0.4	4.5	7.0	0.4	−4.7	−16.6	−10.8	−9.5	−5.7	−2.9	4.0	14.5	0.7
Shares out B	0.31	0.31	0.32	0.33	0.34	0.33	0.34	0.34	0.33	0.33	0.34	0.33	0.06	·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance

Company facts, as filed

How we verify · 0 failures in 68 reconciliationsAUDITED

Reconciled in 14 of 19 fiscal years. 27 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivityServices-Prepackaged Software

Listed onNASDAQ

Incorporated innot stated in the filings

Fiscal year endsnot stated in the filings

Data on record since2012