What were Bilibili's (NASDAQ:BILI) full-year results for 2025?

Bilibili reported total net revenues of RMB30.35 billion ($4.34 billion) for fiscal year 2025, a 13% increase from the previous year. The company achieved its first-ever full year of GAAP profitability, posting a net profit of RMB1.19 billion ($170.3 million), compared to a net loss of RMB1.36 billion in 2024. The revenue growth was largely driven by its advertising segment, which saw a 23% increase in annual revenue.

How did Bilibili's (NASDAQ:BILI) advertising segment perform in 2025?

Bilibili's advertising segment was a standout performer, with annual revenue rising 23% to RMB10.06 billion. This growth was fueled by AI-enhanced ad targeting and the expanding creator ecosystem, which attracted a broader base of brand partners and contributed to the company's overall revenue growth.

How did Bilibili (NASDAQ:BILI) perform in Q4 2025?

In Q4 2025, Bilibili reported revenue of RMB8.32 billion, an 8% year-over-year increase. The company maintained high user engagement, with average daily active users (DAUs) reaching 113 million. This strong performance in the final quarter contributed to the company's overall growth for the year.

What was the impact of Bilibili's (NASDAQ:BILI) user engagement on its performance?

User engagement played a crucial role in Bilibili’s performance, with the platform reaching 113 million average daily active users (DAUs) in Q4 2025. High user engagement supported the company's advertising revenue growth and helped drive its transition to a more sustainable, profitable business model.

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Bilibili reaches profitability milestone as Ad revenue surges 23% in 2025

Written by Jon CuthbertPublished Mar 5, 2026, 12:00 AMLast Updated Jul 6, 2026, 10:44 AM

Bilibili (NASDAQ:BILI) has achieved its first-ever full year of GAAP profitability, marking a historic turning point for the youth-oriented video platform.

The company’s 2025 results, reported on March 5, 2026, highlighted a successful transition from high-growth cash burn to a sustainable, ad-driven business model.

For the fiscal year ended Dec. 31, 2025, Bilibili posted total net revenues of RMB30.35 billion ($4.34 billion), a 13% increase over the previous year.

The fourth quarter contributed RMB8.32 billion to the total, rising 8% year-over-year.

The standout performer was the company's advertising segment, which saw annual revenue jump 23% to RMB10.06 billion, as AI-enhanced ad targeting and a growing creator ecosystem attracted a broader base of brand partners.

The platform’s bottom line saw a dramatic reversal, posting a full-year net profit of RMB1.19 billion ($170.3 million), compared to a net loss of RMB 1.36 billion in 2024.

This turnaround was supported by 14 consecutive quarters of gross margin expansion, which reached 36.6% for the full year.

Management attributed the efficiency gains to disciplined content spending and the high-margin nature of its performance-based advertising products.

User engagement remained high throughout the year, with average daily active users (DAUs) reaching 113 million in the fourth quarter.

Bilibili ended 2025 with a formidable cash position, reporting RMB24.15 billion ($3.45 billion) in cash, cash equivalents, and short-term investments.