Xunlei Limited (“Xunlei” or the “Company”) (Nasdaq: XNET), a
leading cloud-based acceleration technology company in China, today
announced its unaudited financial results for the fourth quarter
and the fiscal year ended December 31, 2018.
Fourth Quarter 2018
Financial Highlights:
- Total revenues were US$42.3 million,
representing a decrease of 6.6% from the previous quarter.
- Cloud computing and other internet value-added services
(“Cloud computing and IVAS”) revenues were US$18.1
million, representing a decrease of 8.5% from the previous
quarter.
- Subscription revenues were US$18.2 million,
representing a decrease of 4.8% from the previous quarter.
- Online advertising revenues (consisted
primarily of revenues from mobile advertising) were US$6.0 million,
representing a decrease of 6.3% from the previous quarter.
- Gross profit was US$18.7 million, representing
a decrease of 21.4% from the previous quarter, and gross margin was
44.3% in the fourth quarter, compared with 52.7% in the previous
quarter.
- Net loss from continuing operations was
US$32.4 million in the fourth quarter, compared with a net loss of
US$15.9 million in the previous quarter.
- Diluted loss per ADS from continuing
operations was US$0.48 as compared with a loss of US$0.24 in the
previous quarter.
Fiscal Year Ended December, 31
2018 Financial Highlights:
- Total revenues were US$232.1 million,
representing an increase of 15.0% from 2017.
- Cloud computing and IVAS revenues were
US$122.5 million, representing an increase of 29.6% from 2017.
- Subscription revenues were US$81.9 million,
representing a decrease of 3.6% from 2017.
- Online advertising revenues were US$27.8
million, representing an increase of 23.6% from 2017.
- Gross profit was US$114.9 million,
representing an increase of 39.0% from 2017, and
gross margin was 49.5%, compared with 41.0% in the previous
year.
- Net loss from continuing operations was
US$40.8 million for fiscal year 2018, compared with a net loss of
US$44.2 million for 2017.
- Diluted loss per ADS from continuing
operations in 2018 was US$0.61 as compared with a loss of US$0.67
in the previous year.
Recent Developments:
- In December 2018, the Company and China Mobile IoT Company
Limited entered into a strategic partnership to jointly develop IoT
industry solutions by leveraging blockchain technology.
- The Company unveiled a conceptual phone-based shared-computing
smart device, OneThing Cloud mini, at Consumer Electronics Show
2019. The new conceptual product, OneThing Cloud mini, is designed
to aggregate idle computing resources from spare smartphones and to
convert these resources into enterprise-level cloud
services.
- Several top internet companies signed up for our StellarCloud
IaaS services, and we expect to continue to expand our cloud
computing services in 2019.
- The Company revamped the membership subscription program and
saw a reverse of the declining trend for membership number towards
the end of the fourth quarter with positive momentum carried into
January and February.
- The Company secured a low-cost bank loan to construct a new
headquarters building of approximately 43,000 square meters (or
461,000 square feet). The land was acquired several years ago which
is located in the premier Nanshan district, Shenzhen, China.
Mr. Lei Chen, the Chief Executive Officer of
Xunlei, commented: “2018 was a year of transformation for Xunlei.
Our shared cloud computing business made strong progress over the
year. We substantially expanded the scale of our network capacity
through innovative products and our sold bandwidth reached its
historical high in December 2018. We also became a well-known
blockchain player, providing blockchain services with high
performance, which opened the door for exciting opportunities, as
the market matures in the future. We continued to deliver
value-added services on our traditional business, and reversed the
trend in declining subscription numbers in the fourth quarter.
Despite some headwinds in the macroeconomic environment, we remain
optimistic.”
“The incoming era of 5G technology presents a
critical trend for the IoT industry, leading to more demand for
edge computing solutions. After years of investment, we have built
a nationwide network of shared cloud computing nodes and provided
edge computing solutions for commercial uses. We believe our head
start and technological advantages position us well in capturing
this great opportunity. We expect continued growth in shared cloud
computing business in 2019,” concluded Mr. Chen.
Fourth Quarter 2018
Financial Results
Total Revenues
Total revenues were US$42.3 million,
representing a decrease of 6.6% from the previous quarter. The
decrease in total revenues on the sequential basis was mainly
attributable to a decline in cloud computing and IVAS business and
subscription business.
Revenues from cloud computing and IVAS were
US$18.1 million, representing a decrease of 8.5% on the sequential
basis, mainly due to a decline in sales of hardware.
Revenues from subscriptions were US$18.2
million, representing a decrease of 4.8% from the previous quarter.
The number of subscribers was 3.78 million as of December 31, 2018,
up from 3.40 million as of September 30, 2018. The average revenue
per subscriber for the fourth quarter was RMB33.1, down from
RMB38.5 as of September 30, 2018.
Revenues from online advertising were US$6.0
million, representing a decrease of 6.3% from the previous quarter,
mainly due to a decline in demand from game advertisers.
Cost of Revenues
Cost of revenues was US$23.2 million,
representing 54.9% of our total revenues.
Bandwidth costs were US$9.3 million,
representing 22.0% of our total revenues, compared with US$10.2
million or 22.6% of total revenues in the previous quarter.
The remaining cost of revenues mainly consisted
of the revenue-sharing costs for our live streaming products.
Gross Profit and Gross
Margin
Gross profit for the fourth quarter was US$18.7
million, representing a decrease of 21.4% from the previous
quarter. Gross margin was 44.3% in the fourth quarter, compared
with 52.7% in the previous quarter. The decrease in gross profit
was mainly due to a decline in revenue as discussed above.
Research and Development
Expenses
Research and development expenses for the fourth
quarter were US$21.5 million, representing 50.7% of our total
revenues, compared with US$19.7 million or 43.4% of our total
revenues in the previous quarter.
Sales and Marketing
Expenses
Sales and marketing expenses for the fourth
quarter were US$9.0 million, representing 21.3% of our total
revenues, compared with US$10.0 million or 22.1% of our total
revenues in the previous quarter.
General and Administrative
Expenses
General and administrative expenses for the
fourth quarter were US$11.8 million, representing 27.8% of our
total revenues, compared with US$12.4 million or 27.3% of our total
revenues in the previous quarter.
Impairment of Assets, Net
Impairment of assets, net for the fourth quarter
was US$6.3 million, representing 15.0% of our total revenues.
Impairment of assets, net represents the receivables that were
written-off after impairment and recoverability assessment, net of
recovered amount of impaired assets.
Operating Loss
Operating loss was US$29.8 million, compared
with an operating loss of US$18.2 million in the previous quarter.
The increase in operating loss was primarily due to a decline in
revenue and a one-off impairment of assets as discussed.
Net Loss
and Loss Per Share
Net loss from continuing operations was US$32.4
million, compared with a net loss of US$15.9 million in the
previous quarter, primarily due to a one-off US$6.3 million
impairment of assets, net and a one-off US$5.7 million impairment
of long term investments, which was included in income statement
under other income/(loss), net. Non-GAAP net loss from continuing
operations was US$30.9 million in the fourth quarter of 2018,
compared with a net loss of US$14.5 million in the previous
quarter. The increased net loss from continuing operations and
non-GAAP net loss from continuing operations were primarily due to
several impairment of assets, which were discussed above and
one-time in nature.
Diluted loss per ADS from continuing operations
in the fourth quarter of 2018 was approximately US$0.48 as compared
with a loss of US$0.24 in the third quarter of 2018.
Unaudited Financial Results for the
fiscal year ended December 31, 2018
Total Revenues
Total revenues were US$232.1 million,
representing an increase of 15.0% on a year-over-year basis. The
increase in total revenues was mainly attributable to the growth of
cloud computing, live streaming and mobile advertising
businesses.
Revenues from cloud computing and IVAS were
US$122.5 million, representing an increase of 29.6% on a
year-over-year basis. The increase in cloud computing and IVAS
revenues was mainly attributable to an increase in sales of
hardware and the growth of live streaming business.
Revenues from subscriptions were US$81.9
million, representing a decrease of 3.6% on a year-over-year basis.
The decrease in subscription revenues was primarily attributable to
a decline in the average number of subscribers during the year.
Revenues from online advertising were US$27.8
million, representing an increase of 23.6% on a year-over-year
basis.
Cost of Revenues
Cost of revenues was US$115.7 million,
representing 49.8% of our total revenues.
Bandwidth costs were US$48.1 million,
representing 20.7% of our total revenues, compared with US$68.4
million or 33.9% of total revenues in the previous year. The
decrease was mainly attributable to an increase in the lower cost
crowdsourced bandwidth capacity obtained through our cloud
computing services.
Gross Profit and Gross
Margin
Gross profit for the year was US$114.9 million,
representing an increase of 39.0% on the year-over-year basis.
Gross margin was 49.5%, compared with 41.0% in the previous year.
The increase in gross profit was mainly due to improved cloud
computing business and a decrease in bandwidth costs.
Research and Development
Expenses
Research and development expenses for the year
were US$76.8 million, representing 33.1% of our total revenues,
compared with US$66.9 million or 33.2% of our total revenues in the
previous year. The increase was because we continued to hire
employees to strengthen our competitive position and expand our
product and service offerings.
Sales and Marketing
Expenses
Sales and marketing expenses for the year were
US$35.3 million, representing 15.2% of our total revenues, compared
with US$19.9 million or 9.8% of our total revenues in the previous
year. The increase was primarily due to more marketing and
promotion expenses incurred during the year as a result of more
business activities.
General and Administrative
Expenses
General and administrative expenses for the year
were US$40.8 million, representing 17.6% of our total revenues,
compared with US$36.5 million or 18.1% of our total revenues in the
previous year. The increase was primarily due to an increase in
staff costs and related expenses.
Impairment of Assets, Net
Impairment of assets, net for the year was
US$6.3 million, accounting for 2.7% of our total revenues, which
represented the receivables written-off after impairment and
recoverability assessment, net of recovered amount of impaired
assets during the year. Prior year balance of impairment of assets
was US$13.6 million, accounting for 6.7% of our total revenues.
Approximately US$8.8 million of the assets impairment was related
to Xunlei Kankan business, which the Company sold in 2015, and
US$4.8 million related to a one-off write-off intangible asset from
a prior acquisition of Kuaipan Personal.
Operating Loss
Operating loss was US$44.3 million, compared
with operating loss of US$54.2 million in the previous year. The
decrease was mainly due to a non-recurring write-off approximately
US$11.8 million in 2017 related to our disposal of Xunlei Kankan
business in 2015.
Net Loss
and Loss Per Share
Net loss from continuing operations was US$40.8
million in 2018, compared with a net loss of US$44.2 million in the
previous year. Non-GAAP net loss from continuing operations was
US$35.5 million in 2018, compared with a loss of US$35.9 million in
the previous year. The decreased net loss from continuing
operations and non-GAAP net loss from continuing operations were
primarily because there were less one-off write-offs in 2018 as
compared with that in 2017.
Diluted loss per ADS from continuing operations
in 2018 was US$0.61 as compared with a loss of US$0.67 in the
previous year.
Cash Balance
As of December 31, 2018, the Company had cash,
cash equivalents and short-term investments of US$319.5 million,
compared with US$372.4 million as of December 31, 2017.
Guidance for
First Quarter
2019
For the first quarter 2019, Xunlei estimates
total revenues to be between US$39 million and US$43 million, and
the midpoint of the range represents a quarter-on-quarter decrease
of approximately 3.1%. This estimate represents management’s
preliminary view as of the date of this release, which is subject
to change and any change could be material.
Conference Call Details
Xunlei's management will host a conference call
at 8:00 a.m. U.S. Eastern Time on March 7, 2019 (9:00 p.m.
Beijing/Hong Kong Time), to discuss its quarterly and fiscal year
results and recent business activities.
To participate in the conference call, please
dial the following number five to ten minutes prior to the
scheduled conference call time:
China: |
400-120-0654 |
Hong
Kong: |
+852-3018-6776 |
United
States: |
+1-855-500-8701 |
International: |
+65
6713-5440 |
Passcode: |
2673194 |
The Company will also broadcast a live audio
webcast of the conference call. The webcast will be available at
http://ir.xunlei.com.
Following the earnings conference call, an
archive of the call will be available by dialing:
China
(Mandarin): |
400-602-2065 |
Hong
Kong: |
800-963-117 |
United
States: |
+1-855-452-5696 |
International: |
+61-2-9003-4211 |
Replay
Passcode: |
2673194 |
Replay End
Date: |
March 15,
2019 |
|
|
About Xunlei
Xunlei Limited ("Xunlei") is a leading
cloud-based acceleration technology company in China. Xunlei
operates a powerful internet platform in China based on cloud
computing to provide users with quick and easy access to digital
media content through its core products and services, Xunlei
Accelerator and the cloud acceleration subscription services.
Xunlei is increasingly extending into mobile devices in part
through potentially pre-installed acceleration products in mobile
phones. Benefitting from the large user base accumulated by Xunlei
Accelerator, Xunlei has further developed various value-added
services to meet a fuller spectrum of its users' digital media
content access and consumption needs.
Safe Harbor Statement
This press release contains statements of a
forward-looking nature. These statements are made under the "safe
harbor" provisions of the U.S. Private Securities Litigation Reform
Act of 1995. You can identify these forward-looking statements by
terminology such as "will," "expects," "believes," "anticipates,"
"future," "intends," "plans," "believes," "estimates" and similar
statements. Among other things, the management's quotations, the
"Outlook" and "Guidance" sections in this press release, as well as
the Company's strategic, operational and acquisition plans, contain
forward-looking statements. These forward-looking statements
involve known and unknown risks and uncertainties and are based on
current expectations, assumptions, estimates and projections about
the Company and the industry. Forward-looking statements involve
inherent risks and uncertainties, including but not limited to: the
Company's ability to continue to innovate and provide attractive
products and services to retain and grow its user base; the
Company's ability to keep up with technological developments and
users' changing demands in the internet industry; the Company's
ability to convert its users into subscribers of its premium
services; the Company's ability to deal with existing and potential
copyright infringement claims and other related claims; the
Company’s ability to react to the governmental actions for its
scrutiny of internet content in China and the Company's ability to
compete effectively. Although the Company believes that the
expectations expressed in these forward-looking statements are
reasonable, it cannot assure you that its expectations will turn
out to be correct, and investors are cautioned that actual results
may differ materially from the anticipated results. Further
information regarding risks and uncertainties faced by the Company
is included in the Company's filings with the U.S. Securities and
Exchange Commission. All information provided in this press release
is as of the date of the press release, and the Company undertakes
no obligation to update any forward-looking statements to reflect
subsequent occurring events or circumstances, or changes in its
expectations, except as may be required by law.
About Non-GAAP Financial
Measures
To supplement Xunlei's consolidated financial
results presented in accordance with United States Generally
Accepted Accounting Principles ("GAAP"), Xunlei uses the following
measures defined as non-GAAP financial measures by the United
States Securities and Exchange Commission: (1) non-GAAP operating
income/(loss), (2) non-GAAP net income/(loss) from continuing
operations, (3) non-GAAP basic and diluted earnings per share for
common shares attributable to continuing operations, and (4)
non-GAAP basic and diluted earnings per ADS attributable to
continuing operations. The presentation of the non-GAAP financial
information is not intended to be considered in isolation or as a
substitute for the financial information prepared and presented in
accordance with GAAP.
Xunlei believes that these non-GAAP financial
measures provide meaningful supplemental information to investors
regarding the Company’s operating performance by excluding
share-based compensation expenses, which is not expected to result
in future cash payments. These non-GAAP financial measures also
facilitate management's internal comparisons to Xunlei's historical
performance and assist the Company’s financial and operational
decision making. A limitation of using these non-GAAP financial
measures is that these non-GAAP measures exclude share-based
compensation charge that has been and will continue to be for the
foreseeable future a significant recurring expense in Xunlei’s
results of operations. Management compensates for these limitations
by providing specific information regarding the GAAP amounts
excluded from each non-GAAP measure. The accompanying
reconciliation tables at the end of this release include details on
the reconciliations between GAAP financial measures that are most
directly comparable to the non-GAAP financial measures the Company
has presented
|
|
|
XUNLEI LIMITED |
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS |
(Amounts expressed in thousands of USD, except for
share, per share (or ADS) data) |
|
December 31, |
December 31, |
|
2018 |
2017 |
|
US$ |
US$ |
Assets |
|
|
|
|
|
Current assets: |
|
|
Cash
and cash equivalents |
122,930 |
|
233,479 |
|
Short-term investments |
196,538 |
|
138,915 |
|
Accounts receivable, net |
19,391 |
|
40,632 |
|
Inventories |
12,667 |
|
3,879 |
|
Due
from related parties |
1,137 |
|
6,986 |
|
Prepayments and other current assets |
10,236 |
|
6,866 |
|
Held-for-sale assets |
- |
|
26 |
|
Total current assets |
362,899 |
|
430,783 |
|
|
|
|
|
|
|
Non-current assets: |
|
|
Long-term investments |
33,638 |
|
42,741 |
|
Deferred tax assets |
5,690 |
|
6,072 |
|
Property and equipment, net |
21,903 |
|
24,685 |
|
Intangible assets, net |
9,991 |
|
5,511 |
|
Goodwill |
20,717 |
|
21,760 |
|
Other
long-term prepayments and receivables |
593 |
|
1,885 |
|
Total assets |
455,431 |
|
533,437 |
|
|
|
|
|
|
|
Liabilities |
|
|
Current liabilities: |
|
|
Accounts payable |
22,629 |
|
49,819 |
|
Due
to related parties |
5,234 |
|
10 |
|
Contract liability, current portion |
28,810 |
|
- |
|
Deferred revenue and income, current portion |
1,485 |
|
28,046 |
|
Income tax payable |
2,503 |
|
3,128 |
|
Accrued liabilities and other payables |
44,065 |
|
59,871 |
|
Held-for-sale liabilities |
3,309 |
|
822 |
|
Total current liabilities |
108,035 |
|
141,696 |
|
|
|
|
Non-current liabilities: |
|
|
Contract liability, non-current portion |
517 |
|
- |
|
Deferred revenue and income, non-current portion |
1,333 |
|
3,242 |
|
Deferred tax liability, non-current portion |
1,366 |
|
- |
|
Due
to related parties, non-current portion |
- |
|
4,737 |
|
Other
long-term payable |
- |
|
925 |
|
Total liabilities |
111,251 |
|
150,600 |
|
|
|
|
Equity |
|
|
|
|
|
Common shares (USD0.00025 par value, 1,000,000,000 shares
authorized, 368,877,209 shares issued and 333,643,560 shares
outstanding as at December 31, 2017; 368,877,209 issued and
336,522,780 shares outstanding as at December 31, 2018) |
84 |
|
83 |
|
|
|
|
|
|
Additional paid-in-capital |
466,624 |
|
461,330 |
|
Accumulated other comprehensive loss |
(12,748 |
) |
(7,031 |
) |
Statutory reserves |
5,132 |
|
5,132 |
|
|
|
|
|
|
Treasury shares (35,233,649 shares and 32,354,429 shares as at
December 31, |
8 |
|
9 |
|
2017
and December 31, 2018, respectively) |
|
|
|
|
|
Accumulated deficits |
(113,804 |
) |
(74,526 |
) |
Total Xunlei Limited's shareholders' equity |
345,296 |
|
384,997 |
|
Non-controlling interests |
(1,116 |
) |
(2,160 |
) |
Total liabilities and shareholders' equity |
455,431 |
|
533,437 |
|
|
|
|
|
|
|
XUNLEI
LIMITED |
Unaudited
Condensed Consolidated Statements of Income |
(Amounts expressed
in thousands of USD, except for share, per share (or ADS)
data) |
|
|
Three months ended |
|
Twelve months ended |
|
|
|
|
|
Dec
31, |
Sept
30, |
Dec
31, |
|
Dec
31, |
Dec
31, |
|
2018 |
2018 |
2017 |
|
2018 |
2017 |
|
US$ |
US$ |
US$ |
|
US$ |
US$ |
Revenues, net of rebates and
discounts |
42,296 |
|
45,292 |
|
82,416 |
|
|
232,132 |
|
201,911 |
|
Business taxes and
surcharges |
(315 |
) |
(264 |
) |
(702 |
) |
|
(1,528 |
) |
(1,328 |
) |
Net revenues |
41,981 |
|
45,028 |
|
81,714 |
|
|
230,604 |
|
200,583 |
|
Cost of revenues |
(23,241 |
) |
(21,179 |
) |
(41,983 |
) |
|
(115,667 |
) |
(117,876 |
) |
Gross
profit |
18,740 |
|
23,849 |
|
39,731 |
|
|
114,937 |
|
82,707 |
|
|
|
|
|
|
|
|
Operating
expenses |
|
|
|
|
|
|
Research and development
expenses |
(21,452 |
) |
(19,662 |
) |
(20,558 |
) |
|
(76,763 |
) |
(66,947 |
) |
Sales and marketing
expenses |
(8,996 |
) |
(10,030 |
) |
(7,486 |
) |
|
(35,322 |
) |
(19,888 |
) |
General and administrative
expenses |
(11,759 |
) |
(12,358 |
) |
(7,744 |
) |
|
(40,833 |
) |
(36,517 |
) |
Assets impairment loss,
net |
(6,348 |
) |
- |
|
- |
|
|
(6,348 |
) |
(13,556 |
) |
Total operating
expenses |
(48,555 |
) |
(42,050 |
) |
(35,788 |
) |
|
(159,266 |
) |
(136,908 |
) |
|
|
|
|
|
|
|
Operating
(loss)/income |
(29,815 |
) |
(18,201 |
) |
3,943 |
|
|
(44,329 |
) |
(54,201 |
) |
Interest income |
88 |
|
215 |
|
460 |
|
|
1,183 |
|
1,967 |
|
Interest expense |
(60 |
) |
(60 |
) |
(60 |
) |
|
(239 |
) |
(239 |
) |
Other income/(loss), net |
(2,840 |
) |
2,093 |
|
833 |
|
|
2,810 |
|
7,880 |
|
Share of loss from equity
investee |
(228 |
) |
(21 |
) |
(1,567 |
) |
|
(307 |
) |
(1,875 |
) |
(Loss) / Income from
continuing operations before income taxes |
(32,855 |
) |
(15,974 |
) |
3,609 |
|
|
(40,882 |
) |
(46,468 |
) |
Income tax
(expense)/benefit |
487 |
|
121 |
|
(560 |
) |
|
89 |
|
2,252 |
|
Net (loss) / income
from continuing operations |
(32,368 |
) |
(15,853 |
) |
3,049 |
|
|
(40,793 |
) |
(44,216 |
) |
|
|
|
|
|
|
|
Discontinued
operations |
|
|
|
|
|
|
Gain from discontinued
operations before income taxes |
- |
|
- |
|
1,279 |
|
|
139 |
|
7,538 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Gain on disposal |
- |
|
- |
|
- |
|
|
1,394 |
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax expense |
- |
|
- |
|
(192 |
) |
|
(230 |
) |
(1,131 |
) |
Net
income from discontinued
operations |
- |
|
- |
|
1,087 |
|
|
1,303 |
|
6,407 |
|
|
|
|
|
|
|
|
Net
(loss)/income |
(32,368 |
) |
(15,853 |
) |
4,136 |
|
|
(39,490 |
) |
(37,809 |
) |
Less: net profit/(loss)
attributable to non-controlling interest |
(191 |
) |
(25 |
) |
(4 |
) |
|
(212 |
) |
13 |
|
Net (loss)/income
attributable to common shareholders |
(32,177 |
) |
(15,828 |
) |
4,140 |
|
|
(39,278 |
) |
(37,822 |
) |
|
|
|
|
|
|
|
Earnings/(loss) per
share for common shares, basic |
|
|
|
|
|
|
Continuing operations |
(0.0957 |
) |
(0.0472 |
) |
0.0092 |
|
|
(0.1212 |
) |
(0.1333 |
) |
Discontinued operations |
- |
|
- |
|
0.0033 |
|
|
0.0039 |
|
0.0193 |
|
Total earnings/(loss) per share
for common shares, basic |
(0.0957 |
) |
(0.0472 |
) |
0.0125 |
|
|
(0.1173 |
) |
(0.1140 |
) |
|
|
|
|
|
|
|
Earnings/(loss) per
share for common shares, diluted |
|
|
|
|
|
|
Continuing operations |
(0.0957 |
) |
(0.0472 |
) |
0.0090 |
|
|
(0.1212 |
) |
(0.1333 |
) |
Discontinued operations |
- |
|
- |
|
0.0032 |
|
|
0.0039 |
|
0.0193 |
|
Total earnings/(loss) per share
for common shares, diluted |
(0.0957 |
) |
(0.0472 |
) |
0.0122 |
|
|
(0.1173 |
) |
(0.1140 |
) |
|
|
|
|
|
|
|
Earnings/(loss) per
ADS, basic |
|
|
|
|
|
|
Continuing operations |
(0.4785 |
) |
(0.2360 |
) |
0.0460 |
|
|
(0.6060 |
) |
(0.6665 |
) |
Discontinued operations |
- |
|
- |
|
0.0163 |
|
|
0.0195 |
|
0.0966 |
|
Total earnings/(loss) per ADS,
basic |
(0.4785 |
) |
(0.2360 |
) |
0.0623 |
|
|
(0.5865 |
) |
(0.5699 |
) |
|
|
|
|
|
|
|
Earnings/(loss) per
ADS, diluted |
|
|
|
|
|
|
Continuing operations |
(0.4785 |
) |
(0.2360 |
) |
0.0450 |
|
|
(0.6060 |
) |
(0.6665 |
) |
Discontinued operations |
- |
|
- |
|
0.0161 |
|
|
0.0195 |
|
0.0966 |
|
Total earnings/(loss) per ADS,
diluted |
(0.4785 |
) |
(0.2360 |
) |
0.0611 |
|
|
(0.5865 |
) |
(0.5699 |
) |
|
|
|
|
|
|
|
Weighted average number
of common shares used in calculating continuing
operations: |
|
|
|
|
|
|
Basic |
336,148,900 |
|
335,566,140 |
|
332,986,916 |
|
|
334,965,987 |
|
331,731,963 |
|
Diluted |
336,148,900 |
|
335,566,140 |
|
338,685,290 |
|
|
334,965,987 |
|
331,731,963 |
|
|
|
|
|
|
|
|
Weighted average number
of ADSs used in calculating continuing operations : |
|
|
|
|
|
|
Basic |
67,229,780 |
|
67,113,228 |
|
66,597,383 |
|
|
66,993,197 |
|
66,346,393 |
|
Diluted |
67,229,780 |
|
67,113,228 |
|
67,737,058 |
|
|
66,993,197 |
|
66,346,393 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
XUNLEI
LIMITED |
Reconciliation of
GAAP and Non-GAAP Results (Excluding discontinued operations) |
(Amounts expressed
in thousands of USD, except for share, per share (or ADS)
data) |
|
|
Three months ended |
|
Twelve months ended |
|
|
|
|
|
Dec
31, |
Sept
30, |
Dec
31, |
|
Dec
31, |
Dec
31, |
|
2018 |
2018 |
2017 |
|
2018 |
2017 |
|
US$ |
US$ |
US$ |
|
US$ |
US$ |
|
|
|
|
|
|
|
GAAP operating
(loss)/income |
(29,815 |
) |
(18,201 |
) |
3,943 |
|
|
(44,329 |
) |
(54,201 |
) |
Share-based compensation
expenses |
1,424 |
|
1,375 |
|
1,718 |
|
|
5,294 |
|
8,318 |
|
Non-GAAP operating
(loss)/ income |
(28,391 |
) |
(16,826 |
) |
5,661 |
|
|
(39,035 |
) |
(45,883 |
) |
|
|
|
|
|
|
|
GAAP net (loss)/income from
continuing operations |
(32,368 |
) |
(15,853 |
) |
3,049 |
|
|
(40,793 |
) |
(44,216 |
) |
Share-based compensation
expenses |
1,424 |
|
1,375 |
|
1,718 |
|
|
5,294 |
|
8,318 |
|
Non-GAAP net
(loss)/income from continuing operations |
(30,944 |
) |
(14,478 |
) |
4,767 |
|
|
(35,499 |
) |
(35,898 |
) |
|
|
|
|
|
|
|
GAAP earnings/(loss)
per share for common shares attributable to continuing
operations: |
|
|
|
|
|
|
Basic |
(0.0957 |
) |
(0.0472 |
) |
0.0092 |
|
|
(0.1212 |
) |
(0.1333 |
) |
Diluted |
(0.0957 |
) |
(0.0472 |
) |
0.0090 |
|
|
(0.1212 |
) |
(0.1333 |
) |
|
|
|
|
|
|
|
GAAP earnings/(loss)
per ADS attributable to continuing operations: |
|
|
|
|
|
|
Basic |
(0.4785 |
) |
(0.2360 |
) |
0.0460 |
|
|
(0.6060 |
) |
(0.6665 |
) |
Diluted |
(0.4785 |
) |
(0.2360 |
) |
0.0450 |
|
|
(0.6060 |
) |
(0.6665 |
) |
|
|
|
|
|
|
|
Non-GAAP
earnings/(loss) per share for common shares attributable to
continuing operations: |
|
|
|
|
|
|
Basic |
(0.0915 |
) |
(0.0431 |
) |
0.0143 |
|
|
(0.1053 |
) |
(0.1083 |
) |
Diluted |
(0.0915 |
) |
(0.0431 |
) |
0.0141 |
|
|
(0.1053 |
) |
(0.1083 |
) |
|
|
|
|
|
|
|
Non-GAAP
earnings/(loss) per ADS attributable to continuing
operations: |
|
|
|
|
|
|
Basic |
(0.4575 |
) |
(0.2155 |
) |
0.0715 |
|
|
(0.5265 |
) |
(0.5415 |
) |
Diluted |
(0.4575 |
) |
(0.2155 |
) |
0.0705 |
|
|
(0.5265 |
) |
(0.5415 |
) |
|
|
|
|
|
|
|
Weighted average number
of common shares used in calculating: |
|
|
|
|
|
|
Basic |
336,148,900 |
|
335,566,140 |
|
332,986,916 |
|
|
334,965,987 |
|
331,731,963 |
|
Diluted |
336,148,900 |
|
335,566,140 |
|
338,685,290 |
|
|
334,965,987 |
|
331,731,963 |
|
|
|
|
|
|
|
|
Weighted average number
of ADSs used in calculating: |
|
|
|
|
|
|
Basic |
67,229,780 |
|
67,113,228 |
|
66,597,383 |
|
|
66,993,197 |
|
66,346,393 |
|
Diluted |
67,229,780 |
|
67,113,228 |
|
67,737,058 |
|
|
66,993,197 |
|
66,346,393 |
|
|
|
|
|
|
|
|
|
|
|
|
|
CONTACT: Investor RelationsXunlei LimitedEmail:
ir@xunlei.comTel: +86 755 8633 8443Website:
http://ir.xunlei.com
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