2021-11-17-SEC-哔哩哔哩2021第三季度财报_9页_241kb

Bilibili Inc. Third Quarter 2021 Financial Summary

Core Content

Bilibili Inc. (NASDAQ: BILI and HKEX: 9626) reported its unaudited financial results for the third quarter ended September 30, 2021, highlighting significant growth in user engagement and revenue, despite a net loss.

Key Financial Highlights

• Total Net Revenues: RMB5,206.6 million (US$808.0 million), up 61% year-over-year from the same period in 2020.
• User Growth:
  • MAUs: 267.2 million, up 35% year-over-year.
  • Mobile MAUs: 249.9 million, up 36% year-over-year.
  • DAUs: 72.1 million, up 35% year-over-year.
  • MPUs: 23.9 million, up 59% year-over-year.
• Revenue Mix:
  • Mobile Games: RMB1,391.7 million (US$216.0 million), up 9% year-over-year.
  • VAS (Value-Added Services): RMB1,908.9 million (US$296.3 million), up 95% year-over-year.
  • Advertising: RMB1,172.0 million (US$181.9 million), up 110% year-over-year.
  • E-commerce and Others: RMB734.0 million (US$113.9 million), up 78% year-over-year.

Expenses and Profitability

• Cost of Revenues: RMB4,188.1 million (US$650.0 million), up 70% year-over-year.
• Gross Profit: RMB1,018.5 million (US$158.1 million), up 34% year-over-year.
• Total Operating Expenses: RMB2,896.5 million (US$449.5 million), up 57% year-over-year.
• Loss from Operations: RMB1,878.0 million (US$291.5 million), up from RMB1,083.3 million in the same period of 2020.
• Net Loss: RMB2,686.3 million (US$416.9 million), up from RMB1,100.9 million in the same period of 2020.
• Adjusted Net Loss: RMB1,622.0 million (US$251.7 million), up from RMB967.1 million in the same period of 2020.

Earnings Per Share (EPS)

• Basic and Diluted Net Loss per Share: RMB6.90 (US$1.07), up from RMB3.08 in the same period of 2020.
• Adjusted Basic and Diluted Net Loss per Share: RMB4.16 (US$0.65), up from RMB2.70 in the same period of 2020.

Cash and Liquidity

• Cash and Cash Equivalents, Time Deposits, and Short-Term Investments: RMB24.4 billion (US$3.8 billion) as of September 30, 2021, up from RMB12.8 billion as of December 31, 2020.

Outlook

• Fourth Quarter 2021 Net Revenues: Expected to be between RMB5.7 billion and RMB5.8 billion.
• Uncertainties: The outlook is subject to various factors, including the ongoing impact of the COVID-19 pandemic.

Non-GAAP Financial Measures

• Adjusted Net Loss: Excludes share-based compensation expenses, amortization related to intangible assets, income tax on intangible assets, and loss/gain on fair value change of investments in publicly traded companies.
• Purpose: These measures help assess underlying trends and provide better visibility into key performance metrics.

Strategic and Operational Notes

• The company emphasized quality growth, with increased user engagement and time spent on the platform.
• User Engagement: Users spent an average of 88 minutes per day on Bilibili, a record high.
• Brand Influence: Continued expansion of brand recognition in China's online advertising market.
• Community Development: Focus on building an inclusive community and promoting positive content and Chinese culture.

Conference Call

• Date: November 17, 2021, at 7:00 AM U.S. Eastern Time (8:00 PM Beijing/Hong Kong time).
• Registration Link: http://apac.directeventreg.com/registration/event/9189598
• Replay Access Code: 9189598
• Phone Numbers for Replay:
  • United States: +1-855-452-5696
  • International: +61-2-8199-0299
  • Hong Kong: 800-963-117
  • China: 400-632-2162

About Bilibili Inc.

• A leading video community for young generations in China.
• Offers diverse content and has a strong community bond with users.
• Pioneered the "bullet chatting" feature, enhancing user interaction.
• Aims to promote Chinese culture and values globally.

Disclaimer

• The document includes forward-looking statements and is subject to uncertainties, including the impact of the COVID-19 pandemic.
• Investors should not rely solely on non-GAAP measures when evaluating the company's performance.
• All financial data is as of the date of the announcement and not subject to update unless required by law.

Summary of Key Metrics