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Xunlei Q2 revenue surges 38.9% to $102.7 million
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Xunlei Q2 revenue surges 38.9% to $102.7 million

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  • Xunlei (NASDAQ:XNET) reported Q2 2026 revenue of $102.7 million, up 38.9% year over year, driven by subscription and live-streaming growth.
  • The company reported a GAAP net loss of $218.5 million, mainly due to a $213.8 million fair value loss on its Arashi Vision investment.
  • Xunlei announced a new share repurchase program while ending the quarter with $276.9 million in cash, cash equivalents, and short-term investments.

Xunlei (NASDAQ:XNET) reported second-quarter 2026 revenue of $102.7 million, up 38.9% year over year, while recording a net loss from continuing operations of $218.5 million mainly due to investment valuation changes.

The company’s revenue growth was driven by subscription revenue of $44.5 million, up 22.6%, and live-streaming and other services revenue of $58.2 million, up 54.8%, compared with the same period last year.

Gross profit increased 23.1% to $57.3 million, while gross margin declined to 55.8% from 63% due to the larger contribution from live-streaming services, which carry lower margins.

Xunlei also reported an operating loss of $4.8 million compared with operating income of $0.3 million in Q2 2025, while non-GAAP net loss from continuing operations was $2.1 million excluding certain non-cash items.

Xunlei provides internet and digital services, including subscription-based offerings and live-streaming services, with revenue increasingly shifting toward service-based businesses.

The company ended June 30, 2026, with $276.9 million in cash, cash equivalents, and short-term investments, compared with $303.6 million at March 31, 2026, and also announced a new share repurchase program.

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