Bilibili Inc. (“Bilibili” or the “Company”) (NASDAQ: BILI and HKEX:
9626), an iconic brand and a leading video community for young
generations in China, today announced its unaudited financial
results for the third quarter ended September 30, 2023.
Third Quarter 2023
Highlights:
- Total
net revenues were RMB5.8 billion (US$795.7 million), flat
with the same period of 2022. Revenues from advertising were RMB1.6
billion (US$224.5 million), representing an increase of 21% from
the same period of 2022.
- Gross
profit was RMB1.5 billion (US$198.8 million), representing
an increase of 38% from the same period of 2022. Gross profit
margin was 25.0%, compared with 18.2% in the same period of
2022.
- Net
loss was RMB1.3 billion (US$183.3 million), narrowing by
22% from the same period of 2022.
- Adjusted
net loss1 was RMB863.5 million (US$118.3 million),
narrowing by 51% from the same period of 2022.
- Average daily active users
(DAUs) were 102.8 million, representing an increase of 14%
from the same period of 2022.
“Our community growth and commercialization
efforts have formed a virtuous cycle in the third quarter,” said
Mr. Rui Chen, chairman and chief executive officer of Bilibili. “We
delivered remarkable user growth and engagement in the third
quarter while effectively improving our commercialization
efficiency. Our DAUs surpassed an exciting milestone of 100
million, marking a 14% year-over-year increase to 103 million.
Additionally, users' average daily time spent on our platform
reached a historical high of 100 minutes, boosting total user time
spent2 by 19% year-over-year. Meanwhile, we are continuing to
strengthen our commercialization efficiency by integrating
advertising solutions and live broadcasting across our content
ecosystem. This strategy has driven our revenues from advertising
and value-added services up by 21% and 17% year-over-year,
respectively. We are proud of the quality community growth we have
achieved thus far, and we are confident that our self-driven
content ecosystem will lead to even more user growth and commercial
opportunities ahead.”
Mr. Sam Fan, chief financial officer of
Bilibili, said, “In the third quarter, our gross profit margin
improved from 18% to 25%, and our gross profit grew by 38%, both
year-over-year. While we grew our DAUs, we further reined in our
total operating expenses by 12% and narrowed our adjusted net loss
by 51%, both year-over-year. Notably, our operating cash flow
turned positive in the third quarter, showing our operations have
entered a positive cycle. Going forward, we remain committed to
further improving our financials and creating value for all
stakeholders.”
Third Quarter 2023 Financial
Results
Total net revenues. Total net
revenues were RMB5.8 billion (US$795.7 million), flat with the same
period of 2022.
Value-added services (VAS). Revenues from VAS
were RMB2.6 billion (US$355.7 million), representing an increase of
17% from the same period of 2022, led by an increase in revenues
from live broadcasting and other value-added services.
Advertising. Revenues from advertising were
RMB1.6 billion (US$224.5 million), representing an increase of 21%
from the same period of 2022, mainly attributable to the Company’s
improved advertising product offerings and enhanced advertising
efficiency.
Mobile games. Revenues from mobile games were
RMB991.8 million (US$135.9 million), representing a decrease of 33%
from the same period of 2022, and an increase of 11%
quarter-over-quarter. The year-over-year decrease was mainly due to
the high base from the release of Space Hunter 3 in June 2022, as
well as lower-than-expected revenues from certain new games in the
third quarter of 2023.
IP derivatives and others (formerly known as
E-commerce and others). Revenues from IP derivatives and others
were RMB580.0 million (US$79.5 million), representing a decrease of
23% from the same period of 2022, primarily due to a decrease in
revenues from IP derivatives sales.
Cost of revenues. Cost of
revenues was RMB4.4 billion (US$596.9 million), representing a
decrease of 8% from the same period of 2022. The decrease was
mainly due to lower content costs, server and bandwidth costs and
others costs led by effective cost control. Revenue-sharing costs,
a key component of the cost of revenues, were RMB2.5 billion
(US$336.6 million), representing an increase of 3% from the same
period of 2022.
Gross profit. Gross profit was
RMB1.5 billion (US$198.8 million), representing an increase of 38%
from the same period of 2022, primarily as a result of the
Company’s reduction of fixed costs related to platform operations,
as the Company enhanced its monetization efficiency.
Total operating expenses. Total
operating expenses were RMB2.6 billion (US$350.5 million),
representing a decrease of 12% from the same period of 2022.
Sales and marketing expenses. Sales and
marketing expenses were RMB992.3 million (US$136.0 million),
representing a 19% decrease year-over-year. The decrease was
primarily attributable to reduced promotional spending related to
user acquisition in the third quarter of 2023.
General and administrative expenses. General and
administrative expenses were RMB499.1 million (US$68.4 million),
representing an 8% decrease year-over-year. The decrease was
primarily attributable to a decline in allowance for doubtful
accounts, rental costs and other general and administrative
expenses in the third quarter of 2023.
Research and development expenses. Research and
development expenses were RMB1.1 billion (US$146.1 million),
representing a 6% decrease year-over-year. The decrease was mainly
attributable to a decline in staff-related costs in the third
quarter of 2023.
Loss from operations. Loss from
operations was RMB1.1 billion (US$151.8 million), narrowing by 40%
from the same period of 2022.
Adjusted loss from
operations1. Adjusted
loss from operations was RMB755.4 million (US$103.5 million),
narrowing by 51% from the same period of 2022. Adjusted loss from
operations is a non-GAAP measure that excludes share-based
compensation expenses, amortization expense related to intangible
assets acquired through business acquisitions, expenses related to
organizational optimization, and termination expenses of certain
game projects.
Investment income/(loss), net (including
impairments). Total investment loss was RMB245.0 million
(US$33.6 million), compared with an investment income of RMB178.6
million in the same period of 2022. The change was primarily
attributable to the fair value changes in investments in publicly
traded companies. A fair value loss of RMB137.4 million was
recognized in the third quarter of 2023, compared to a fair value
gain of RMB343.0 million for the same period of 2022.
Income tax expense. Income tax
expense was RMB18.0 million (US$2.5 million), compared with RMB27.1
million in the same period of 2022.
Net loss. Net loss was RMB1.3
billion (US$183.3 million), narrowing by 22% from the same period
of 2022.
Adjusted net
loss1. Adjusted net loss
was RMB863.5 million (US$118.3 million), narrowing by 51% from the
same period of 2022. Adjusted net loss is a non-GAAP measure that
excludes share-based compensation expenses, amortization expenses
related to intangible assets acquired through business
acquisitions, income tax related to intangible assets acquired
through business acquisitions, gain/loss on fair value change in
investments in publicly traded companies, gain/loss on the
repurchase of convertible senior notes, expenses related to
organizational optimization and termination expenses of certain
game projects.
Basic and diluted EPS and adjusted basic
and diluted EPS1. Basic
and diluted net loss per share were RMB3.26 (US$0.45) each,
compared with RMB4.34 each in the same period of 2022. Adjusted
basic and diluted net loss per share were RMB2.12 (US$0.29) each,
compared with RMB4.46 each in the same period of 2022.
Cash and cash equivalents, time deposits
and short-term investments. As of September 30, 2023, the
Company had cash and cash equivalents, time deposits and short-term
investments of RMB14.5 billion (US$2.0 billion).
Repurchase of Convertible Senior
Notes
In the third quarter of 2023, the Company
repurchased an aggregate principal amount of US$14.5 million
(RMB104.0 million) December 2026 Notes with an aggregate cash
consideration of US$13.0 million (RMB93.3 million). As of September
30, 2023, the aggregate outstanding principal amount of April 2026
Notes, 2027 Notes and December 2026 Notes was US$861.8 million
(RMB6.3 billion).
Outlook
For the full year of 2023, due to
lower-than-expected mobile game revenues, the Company currently
expects total net revenues to be at the low-end of the RMB22.5
billion to RMB23.5 billion range.
The outlook is based on the current market
conditions and reflects the Company’s preliminary estimates, which
are all subject to various uncertainties.
1 Adjusted loss from operations, adjusted net
loss and adjusted basic and diluted EPS are non-GAAP financial
measures. For more information on non-GAAP financial measures,
please see the section of “Use of Non-GAAP Financial Measures” and
the table captioned “Unaudited Reconciliations of GAAP and Non-GAAP
Results.”
2 Total time spent represents the total time
users spent on our mobile apps during a given period, which is the
result of average daily time spent per active user on our mobile
apps multiplied by DAUs and further multiplied by the number of
days in such period.
Conference Call
The Company’s management will host an earnings
conference call at 7:00 AM U.S. Eastern Time on November 29, 2023
(8:00 PM Beijing/Hong Kong Time on November 29, 2023). Details for
the conference call are as follows:
| Event
Title: |
Bilibili Inc.
Third Quarter 2023 Earnings Conference Call |
| Registration Link: |
https://register.vevent.com/register/BI1db4115406524e49ae627bb437ede6bc |
| |
|
All participants must use the link provided
above to complete the online registration process in advance of the
conference call. Upon registering, each participant will receive a
set of participant dial-in numbers and a personal PIN, which will
be used to join the conference call.
Additionally, a live webcast of the conference
call will be available on the Company’s investor relations website
at https://ir.bilibili.com/, and a replay of the webcast will be
available following the session.
About Bilibili Inc.
Bilibili is an iconic brand and a leading video
community with a mission to enrich the everyday lives of young
generations in China. Bilibili offers a wide array of video-based
content with All the Videos You Like as its value proposition.
Bilibili builds its community around aspiring users, high-quality
content, talented content creators and the strong emotional bonds
among them. Bilibili pioneered the “bullet chatting” feature, a
live comment function that has transformed our users’ viewing
experience by displaying the thoughts and feelings of audience
members viewing the same video. The Company has now become the
welcoming home of diverse interests among young generations in
China and the frontier for promoting Chinese culture across the
world.
For more information, please visit:
https://ir.bilibili.com/.
Use of Non-GAAP Financial
Measures
The Company uses non-GAAP measures, such as
adjusted loss from operations, adjusted net loss and adjusted net
loss per share and per ADS, basic and diluted, in evaluating its
operating results and for financial and operational decision-making
purposes. The Company believes that the non-GAAP financial measures
help identify underlying trends in its business by excluding the
impact of share-based compensation expenses, amortization expense
related to intangible assets acquired through business
acquisitions, income tax related to intangible assets acquired
through business acquisitions, gain/loss on fair value change in
investments in publicly traded companies, gain/loss on repurchase
of convertible senior notes, expenses related to organizational
optimization, and termination expenses of certain game projects.
The Company believes that the non-GAAP financial measures provide
useful information about the Company’s results of operations,
enhance the overall understanding of the Company’s past performance
and future prospects and allow for greater visibility with respect
to key metrics used by the Company’s management in its financial
and operational decision-making.
The non-GAAP financial measures are not defined
under U.S. GAAP and are not presented in accordance with U.S. GAAP.
The non-GAAP financial measures have limitations as analytical
tools, and when assessing the Company’s operating performance, cash
flows or liquidity, investors should not consider them in
isolation, or as a substitute for net loss, cash flows provided by
operating activities or other consolidated statements of operations
and cash flows data prepared in accordance with U.S. GAAP.
The Company mitigates these limitations by
reconciling the non-GAAP financial measures to the most comparable
U.S. GAAP performance measures, all of which should be considered
when evaluating the Company’s performance.
For more information on the non-GAAP financial
measures, please see the table captioned “Unaudited Reconciliations
of GAAP and Non-GAAP Results.”
Exchange Rate Information
This announcement contains translations of
certain RMB amounts into U.S. dollars (“US$”) at specified rates
solely for the convenience of the reader. Unless otherwise stated,
all translations from RMB to US$ were made at the rate of RMB7.2960
to US$1.00, the exchange rate on September 29, 2023, set forth in
the H.10 statistical release of the Federal Reserve Board. The
Company makes no representation that the RMB or US$ amounts
referred to could be converted into US$ or RMB, as the case may be,
at any particular rate or at all.
Safe Harbor Statement
This announcement contains forward-looking
statements. These statements are made under the “safe harbor”
provisions of the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements can be identified by
terminology such as “will,” “expects,” “anticipates,” “aims,”
“future,” “intends,” “plans,” “believes,” “estimates,” “confident,”
“potential,” “continue,” or other similar expressions. Among other
things, outlook and quotations from management in this
announcement, as well as Bilibili’s strategic and operational
plans, contain forward-looking statements. Bilibili may also make
written or oral forward-looking statements in its periodic reports
to the U.S. Securities and Exchange Commission, in its interim and
annual reports to shareholders, in announcements, circulars or
other publications made on the website of The Stock Exchange of
Hong Kong Limited (the “Hong Kong Stock Exchange”), in press
releases and other written materials and in oral statements made by
its officers, directors or employees to third parties. Statements
that are not historical facts, including but not limited to
statements about Bilibili’s beliefs and expectations, are
forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties. A number of factors could cause
actual results to differ materially from those contained in any
forward-looking statement, including but not limited to the
following: results of operations, financial condition, and stock
price; Bilibili’s strategies; Bilibili’s future business
development, financial condition and results of operations;
Bilibili’s ability to retain and increase the number of users,
members and advertising customers, provide quality content,
products and services, and expand its product and service
offerings; competition in the online entertainment industry;
Bilibili’s ability to maintain its culture and brand image within
its addressable user communities; Bilibili’s ability to manage its
costs and expenses; PRC governmental policies and regulations
relating to the online entertainment industry, general economic and
business conditions globally and in China and assumptions
underlying or related to any of the foregoing. Further information
regarding these and other risks is included in the Company’s
filings with the Securities and Exchange Commission and the Hong
Kong Stock Exchange. All information provided in this announcement
and in the attachments is as of the date of the announcement, and
the Company undertakes no duty to update such information, except
as required under applicable law.
For investor and media inquiries, please
contact:
In China:
Bilibili Inc.Juliet YangTel: +86-21-2509-9255
Ext. 8523E-mail: ir@bilibili.com
Piacente Financial Communications Helen WuTel:
+86-10-6508-0677E-mail: bilibili@tpg-ir.com
In the United States:
Piacente Financial Communications Brandi
PiacenteTel: +1-212-481-2050E-mail: bilibili@tpg-ir.com
|
BILIBILI INC.Unaudited Condensed
Consolidated Statements of Operations(All amounts
in thousands, except for share and per share data) |
| |
For the Three Months Ended |
|
For the Nine Months Ended |
|
|
September 30, |
|
June 30, |
|
September 30, |
|
September 30, |
|
September 30, |
|
|
2022 |
|
2023 |
|
2023 |
|
2022 |
|
2023 |
|
|
RMB |
|
RMB |
|
RMB |
|
RMB |
|
RMB |
|
|
|
|
|
|
|
|
|
|
|
| Net
revenues: |
|
|
|
|
|
|
|
|
|
|
Mobile games |
1,471,331 |
|
|
890,884 |
|
|
991,776 |
|
|
3,875,385 |
|
|
3,014,279 |
|
|
Value-added services (VAS) |
2,209,711 |
|
|
2,301,741 |
|
|
2,595,036 |
|
|
6,365,361 |
|
|
7,053,001 |
|
|
Advertising |
1,354,834 |
|
|
1,572,840 |
|
|
1,638,232 |
|
|
3,553,856 |
|
|
4,482,876 |
|
|
IP derivatives and others (formerly known as E-commerce and
others) |
757,775 |
|
|
538,734 |
|
|
580,037 |
|
|
1,962,079 |
|
|
1,628,735 |
|
| Total net
revenues |
5,793,651 |
|
|
5,304,199 |
|
|
5,805,081 |
|
|
15,756,681 |
|
|
16,178,891 |
|
| Cost of
revenues |
(4,739,435 |
) |
|
(4,076,665 |
) |
|
(4,354,664 |
) |
|
(13,156,939 |
) |
|
(12,397,008 |
) |
| Gross
profit |
1,054,216 |
|
|
1,227,534 |
|
|
1,450,417 |
|
|
2,599,742 |
|
|
3,781,883 |
|
| |
|
|
|
|
|
|
|
|
|
| Operating
expenses: |
|
|
|
|
|
|
|
|
|
|
Sales and marketing expenses |
(1,228,708 |
) |
|
(918,197 |
) |
|
(992,303 |
) |
|
(3,654,596 |
) |
|
(2,790,686 |
) |
|
General and administrative expenses |
(543,366 |
) |
|
(539,699 |
) |
|
(499,132 |
) |
|
(1,704,327 |
) |
|
(1,610,526 |
) |
|
Research and development expenses |
(1,131,010 |
) |
|
(1,047,321 |
) |
|
(1,066,155 |
) |
|
(3,271,561 |
) |
|
(3,140,188 |
) |
| Total operating
expenses |
(2,903,084 |
) |
|
(2,505,217 |
) |
|
(2,557,590 |
) |
|
(8,630,484 |
) |
|
(7,541,400 |
) |
| Loss from
operations |
(1,848,868 |
) |
|
(1,277,683 |
) |
|
(1,107,173 |
) |
|
(6,030,742 |
) |
|
(3,759,517 |
) |
|
|
|
|
|
|
|
|
|
|
|
| Other
income/(expenses): |
|
|
|
|
|
|
|
|
|
|
Investment income/(loss), net (including impairments) |
178,603 |
|
|
(278,081 |
) |
|
(244,961 |
) |
|
(365,670 |
) |
|
(236,640 |
) |
|
Interest income |
82,477 |
|
|
152,026 |
|
|
117,722 |
|
|
172,745 |
|
|
416,022 |
|
|
Interest expense |
(63,753 |
) |
|
(47,976 |
) |
|
(30,064 |
) |
|
(187,365 |
) |
|
(135,746 |
) |
|
Exchange losses |
(62,867 |
) |
|
(8,840 |
) |
|
(23,871 |
) |
|
(84,393 |
) |
|
(40,423 |
) |
|
Debt extinguishment (loss)/gain |
- |
|
|
(54,043 |
) |
|
9,771 |
|
|
475,790 |
|
|
292,213 |
|
|
Others, net |
25,451 |
|
|
(9,677 |
) |
|
(40,695 |
) |
|
92,702 |
|
|
22,633 |
|
| Total other
income/(expenses), net |
159,911 |
|
|
(246,591 |
) |
|
(212,098 |
) |
|
103,809 |
|
|
318,059 |
|
| Loss before income
tax |
(1,688,957 |
) |
|
(1,524,274 |
) |
|
(1,319,271 |
) |
|
(5,926,933 |
) |
|
(3,441,458 |
) |
|
Income tax |
(27,083 |
) |
|
(23,858 |
) |
|
(17,975 |
) |
|
(83,684 |
) |
|
(73,565 |
) |
| Net loss |
(1,716,040 |
) |
|
(1,548,132 |
) |
|
(1,337,246 |
) |
|
(6,010,617 |
) |
|
(3,515,023 |
) |
|
Net loss/(income) attributable to noncontrolling interests |
2,590 |
|
|
1,425 |
|
|
(14,198 |
) |
|
8,258 |
|
|
(10,814 |
) |
| Net loss attributable
to the Bilibili Inc.'s shareholders |
(1,713,450 |
) |
|
(1,546,707 |
) |
|
(1,351,444 |
) |
|
(6,002,359 |
) |
|
(3,525,837 |
) |
|
Net loss per share, basic |
(4.34 |
) |
|
(3.74 |
) |
|
(3.26 |
) |
|
(15.22 |
) |
|
(8.54 |
) |
|
Net loss per ADS, basic |
(4.34 |
) |
|
(3.74 |
) |
|
(3.26 |
) |
|
(15.22 |
) |
|
(8.54 |
) |
|
Net loss per share, diluted |
(4.34 |
) |
|
(3.74 |
) |
|
(3.26 |
) |
|
(15.22 |
) |
|
(8.54 |
) |
|
Net loss per ADS, diluted |
(4.34 |
) |
|
(3.74 |
) |
|
(3.26 |
) |
|
(15.22 |
) |
|
(8.54 |
) |
|
Weighted average number of ordinary shares, basic |
395,062,497 |
|
|
413,446,005 |
|
|
413,983,020 |
|
|
394,452,475 |
|
|
412,676,893 |
|
|
Weighted average number of ADS, basic |
395,062,497 |
|
|
413,446,005 |
|
|
413,983,020 |
|
|
394,452,475 |
|
|
412,676,893 |
|
|
Weighted average number of ordinary shares, diluted |
395,062,497 |
|
|
413,446,005 |
|
|
413,983,020 |
|
|
394,452,475 |
|
|
412,676,893 |
|
|
Weighted average number of ADS, diluted |
395,062,497 |
|
|
413,446,005 |
|
|
413,983,020 |
|
|
394,452,475 |
|
|
412,676,893 |
|
|
|
|
|
|
|
|
|
|
|
|
The accompanying notes are an integral part of
this press release.
|
BILIBILI INC.Notes to Unaudited
Financial Information(All amounts in thousands,
except for share and per share data) |
| |
|
|
|
|
|
|
| |
For the Three Months Ended |
|
For the Nine Months Ended |
|
|
September 30, |
|
June 30, |
|
September 30, |
|
September 30, |
|
September 30, |
|
|
2022 |
|
2023 |
|
2023 |
|
2022 |
|
2023 |
|
|
RMB |
|
RMB |
|
RMB |
|
RMB |
|
RMB |
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Share-based
compensation expenses included in: |
|
|
|
|
|
|
|
|
|
|
Cost of revenues |
16,076 |
|
17,440 |
|
18,808 |
|
54,188 |
|
48,710 |
|
Sales and marketing expenses |
15,295 |
|
14,662 |
|
13,523 |
|
41,226 |
|
42,689 |
|
General and administrative expenses |
135,420 |
|
153,597 |
|
155,511 |
|
418,295 |
|
446,724 |
|
Research and development expenses |
84,537 |
|
115,115 |
|
116,195 |
|
272,179 |
|
327,462 |
| Total |
251,328 |
|
300,814 |
|
304,037 |
|
785,888 |
|
865,585 |
|
BILIBILI INC.Unaudited Condensed
Consolidated Balance Sheets(All amounts in
thousands, except for share and per share data) |
|
|
December 31, |
|
September 30, |
|
|
2022 |
|
2023 |
|
|
RMB |
|
RMB |
|
|
|
|
|
|
Assets |
|
|
|
| Current
assets: |
|
|
|
|
Cash and cash equivalents |
10,172,584 |
|
7,639,889 |
|
Time deposits |
4,767,972 |
|
4,404,608 |
|
Restricted cash |
14,803 |
|
167,810 |
|
Accounts receivable, net |
1,328,584 |
|
1,649,961 |
|
Prepayments and other current assets |
3,545,493 |
|
2,419,519 |
|
Short-term investments |
4,623,452 |
|
2,469,203 |
|
Total current assets |
24,452,888 |
|
18,750,990 |
| Non-current
assets: |
|
|
|
|
Property and equipment, net |
1,227,163 |
|
796,644 |
|
Production cost, net |
1,929,622 |
|
1,997,550 |
|
Intangible assets, net |
4,326,790 |
|
3,881,654 |
|
Goodwill |
2,725,130 |
|
2,725,130 |
|
Long-term investments, net |
5,651,018 |
|
4,597,966 |
|
Other long-term assets |
1,517,959 |
|
1,145,299 |
|
Total non-current assets |
17,377,682 |
|
15,144,243 |
| Total
assets |
41,830,570 |
|
33,895,233 |
|
Liabilities |
|
|
|
| Current
liabilities: |
|
|
|
|
Accounts payable |
4,291,656 |
|
4,122,334 |
|
Salary and welfare payables |
1,401,526 |
|
1,070,015 |
|
Taxes payable |
316,244 |
|
275,018 |
|
Short-term loan and current portion of long-term debt |
6,621,386 |
|
4,482,382 |
|
Deferred revenue |
2,819,323 |
|
2,837,780 |
|
Accrued liabilities and other payables |
1,643,269 |
|
1,905,498 |
|
Total current liabilities |
17,093,404 |
|
14,693,027 |
| Non-current
liabilities: |
|
|
|
|
Long-term debt |
8,683,150 |
|
3,076,494 |
|
Other long-term liabilities |
814,429 |
|
650,689 |
|
Total non-current liabilities |
9,497,579 |
|
3,727,183 |
| Total
liabilities |
26,590,983 |
|
18,420,210 |
| |
|
|
|
| Total
Bilibili Inc.’s shareholders’ equity |
15,237,828 |
|
15,462,450 |
| Noncontrolling
interests |
1,759 |
|
12,573 |
| Total
shareholders’ equity |
15,239,587 |
|
15,475,023 |
| |
|
|
|
| Total
liabilities and shareholders’ equity |
41,830,570 |
|
33,895,233 |
| |
|
|
|
|
BILIBILI INC.Unaudited Reconciliations of
GAAP and Non-GAAP Results(All amounts in
thousands, except for share and per share data) |
| |
For the Three Months Ended |
|
For the Nine Months Ended |
|
|
September 30, |
|
June 30, |
|
September 30, |
|
September 30, |
|
September 30, |
|
|
2022 |
|
2023 |
|
2023 |
|
2022 |
|
2023 |
|
|
RMB |
|
RMB |
|
RMB |
|
RMB |
|
RMB |
| |
|
|
|
|
|
|
|
|
|
|
Loss from operations |
(1,848,868 |
) |
|
(1,277,683 |
) |
|
(1,107,173 |
) |
|
(6,030,742 |
) |
|
(3,759,517 |
) |
| Add: |
|
|
|
|
|
|
|
|
|
| Share-based compensation
expenses |
251,328 |
|
|
300,814 |
|
|
304,037 |
|
|
785,888 |
|
|
865,585 |
|
| Amortization expense related
to intangible assets acquired through business acquisitions |
48,151 |
|
|
48,151 |
|
|
47,734 |
|
|
144,486 |
|
|
144,036 |
|
| Expenses related to
organizational optimization |
- |
|
|
- |
|
|
- |
|
|
89,650 |
|
|
- |
|
| Termination expenses of
certain game projects |
- |
|
|
- |
|
|
- |
|
|
109,054 |
|
|
- |
|
| Adjusted loss from
operations |
(1,549,389 |
) |
|
(928,718 |
) |
|
(755,402 |
) |
|
(4,901,664 |
) |
|
(2,749,896 |
) |
| |
|
|
|
|
|
|
|
|
|
| Net loss |
(1,716,040 |
) |
|
(1,548,132 |
) |
|
(1,337,246 |
) |
|
(6,010,617 |
) |
|
(3,515,023 |
) |
| Add: |
|
|
|
|
|
|
|
|
|
| Share-based compensation
expenses |
251,328 |
|
|
300,814 |
|
|
304,037 |
|
|
785,888 |
|
|
865,585 |
|
| Amortization expense related
to intangible assets acquired through business acquisitions |
48,151 |
|
|
48,151 |
|
|
47,734 |
|
|
144,486 |
|
|
144,036 |
|
| Income tax related to
intangible assets acquired through business acquisitions |
(5,625 |
) |
|
(5,625 |
) |
|
(5,563 |
) |
|
(23,634 |
) |
|
(16,813 |
) |
| (Gain)/Loss on fair value
change in investments in publicly traded companies |
(342,952 |
) |
|
186,687 |
|
|
137,358 |
|
|
(7,023 |
) |
|
(43,875 |
) |
| Loss/(Gain) on repurchase of
convertible senior notes |
- |
|
|
54,043 |
|
|
(9,771 |
) |
|
(475,790 |
) |
|
(292,213 |
) |
| Expenses related to
organizational optimization |
- |
|
|
- |
|
|
- |
|
|
89,650 |
|
|
- |
|
| Termination expenses of
certain game projects |
- |
|
|
- |
|
|
- |
|
|
109,054 |
|
|
- |
|
| Adjusted net
loss |
(1,765,138 |
) |
|
(964,062 |
) |
|
(863,451 |
) |
|
(5,387,986 |
) |
|
(2,858,303 |
) |
| Net loss/(income) attributable
to noncontrolling interests |
2,590 |
|
|
1,425 |
|
|
(14,198 |
) |
|
8,258 |
|
|
(10,814 |
) |
| Adjusted net loss
attributable to the Bilibili Inc.'s shareholders |
(1,762,548 |
) |
|
(962,637 |
) |
|
(877,649 |
) |
|
(5,379,728 |
) |
|
(2,869,117 |
) |
| |
|
|
|
|
|
|
|
|
|
|
BILIBILI INC.Unaudited Reconciliations of
GAAP and Non-GAAP Results (Continued)(All amounts
in thousands, except for share and per share data) |
| |
For the Three Months Ended |
|
For the Nine Months Ended |
|
|
September 30, |
|
June 30, |
|
September 30, |
|
September 30, |
|
September 30, |
|
|
2022 |
|
2023 |
|
2023 |
|
2022 |
|
2023 |
|
|
RMB |
|
RMB |
|
RMB |
|
RMB |
|
RMB |
|
Adjusted net loss per share, basic |
(4.46 |
) |
|
(2.33 |
) |
|
(2.12 |
) |
|
(13.64 |
) |
|
(6.95 |
) |
| Adjusted net loss per ADS,
basic |
(4.46 |
) |
|
(2.33 |
) |
|
(2.12 |
) |
|
(13.64 |
) |
|
(6.95 |
) |
| Adjusted net loss per share,
diluted |
(4.46 |
) |
|
(2.33 |
) |
|
(2.12 |
) |
|
(13.64 |
) |
|
(6.95 |
) |
| Adjusted net loss per ADS,
diluted |
(4.46 |
) |
|
(2.33 |
) |
|
(2.12 |
) |
|
(13.64 |
) |
|
(6.95 |
) |
| Weighted average number of
ordinary shares, basic |
395,062,497 |
|
|
413,446,005 |
|
|
413,983,020 |
|
|
394,452,475 |
|
|
412,676,893 |
|
| Weighted average number of
ADS, basic |
395,062,497 |
|
|
413,446,005 |
|
|
413,983,020 |
|
|
394,452,475 |
|
|
412,676,893 |
|
| Weighted average number of
ordinary shares, diluted |
395,062,497 |
|
|
413,446,005 |
|
|
413,983,020 |
|
|
394,452,475 |
|
|
412,676,893 |
|
| Weighted average number of
ADS, diluted |
395,062,497 |
|
|
413,446,005 |
|
|
413,983,020 |
|
|
394,452,475 |
|
|
412,676,893 |
|
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