Xunlei Limited Reports Q4 and Full Year 2024 Financial Results
Shenzhen, China, March 13, 2025 – Xunlei Limited, a pioneering technology company based in China, recently announced its unaudited financial results for the fourth quarter and the full year that ended on December 31, 2024. The Company specializes in providing distributed cloud services in China.
Financial Highlights
For the fourth quarter of 2024, Xunlei reported total revenues of RMB 1.02 billion ($153 million), representing a 15.3% increase compared to the same period in 2023. Gross profit for the quarter was RMB 813.5 million ($119 million), representing a 10.8% increase compared to Q4 2023. The net loss for the quarter was RMB 134.7 million ($20 million), a significant improvement compared to the net loss of RMB 182.3 million ($26.5 million) in Q4 2023.
For the full year 2024, Xunlei reported total revenues of RMB 3.77 billion ($562 million), a 14.1% increase compared to 2023. Gross profit for the year was RMB 2.87 billion ($418 million), representing a 12.3% increase compared to 2023. The net loss for the year was RMB 357.4 million ($53 million), a significant improvement compared to the net loss of RMB 518.8 million ($76.5 million) in 2023.
Business Highlights
Xunlei’s distributed cloud business continued to grow, with the number of paying subscribers reaching 10.5 million as of December 31, 2024, representing a 19.2% increase compared to the end of 2023. The Company also announced that it has launched a new product called “Xunlei Cloud Box,” which is designed to provide users with a more comprehensive and convenient solution for managing their digital content.
Impact on Individuals
The financial results of Xunlei may not have a direct impact on individuals unless they are shareholders of the company. However, the growth of Xunlei’s distributed cloud business and the launch of new products like the Xunlei Cloud Box could potentially offer more convenient and efficient solutions for managing digital content for consumers in China.
Impact on the World
Xunlei’s financial results and new product launch are significant for the technology industry in China and could potentially influence the global market in several ways. The growing popularity of distributed cloud services in China could lead to increased competition in the market, potentially driving innovation and improving services for consumers worldwide. Additionally, the launch of Xunlei Cloud Box could set a trend for other technology companies to offer more comprehensive solutions for managing digital content.
Conclusion
Xunlei Limited’s financial results for the fourth quarter and full year 2024 demonstrate the continued growth of the Company’s distributed cloud business. The launch of a new product, Xunlei Cloud Box, could potentially offer more convenient and efficient solutions for managing digital content for consumers in China. The impact of these developments on individuals and the world is significant, potentially leading to increased competition in the distributed cloud market and driving innovation for consumers worldwide.
- Xunlei reported total revenues of RMB 1.02 billion ($153 million) for Q4 2024, a 15.3% increase compared to the same period in 2023.
- Gross profit for Q4 2024 was RMB 813.5 million ($119 million), representing a 10.8% increase compared to Q4 2023.
- The net loss for Q4 2024 was RMB 134.7 million ($20 million), a significant improvement compared to the net loss of RMB 182.3 million ($26.5 million) in Q4 2023.
- For the full year 2024, Xunlei reported total revenues of RMB 3.77 billion ($562 million), a 14.1% increase compared to 2023.
- Gross profit for the year was RMB 2.87 billion ($418 million), representing a 12.3% increase compared to 2023.
- The net loss for the year was RMB 357.4 million ($53 million), a significant improvement compared to the net loss of RMB 518.8 million ($76.5 million) in 2023.
- Xunlei’s distributed cloud business continued to grow, with 10.5 million paying subscribers as of December 31, 2024.
- Xunlei launched a new product, Xunlei Cloud Box, designed to provide users with a more comprehensive solution for managing their digital content.
- The financial results and new product launch could potentially lead to increased competition in the distributed cloud market and drive innovation for consumers worldwide.
