Xunlei Limited Q4 FY2025 earnings call

• Chairman and CEO Jinbo Li stated 2025 was a year of remarkable growth, strategic refinement, and value creation with robust performance across core business segments. Subscription business is a stable core asset and growth driver. Cloud computing business achieved turnaround and growth. Live streaming and other IVAS emerged as key growth engine. • CFO Eric Zhou detailed Q4 and full year 2025 financial results, including revenues breakdown, costs, profitability, operating expenses, and net income aspects

Subscription business: In Q4 2025, subscription revenue was $42.1 million, a 22.4% year-over-year increase. For the full year 2025, subscription revenue reached $154.8 million, up 15.8% from 2024. Cloud computing business: Q4 2025 cloud computing revenue was $46.1 million, a 102.7% year-over-year increase. Full year 2025 cloud computing revenues were $137.4 million, up 31.4% from 2024. Live streaming and other Internet value-added services: Q4 2025 this segment generated $55.1 million in revenue, a 102.8% year-over-year increase. Full year 2025 live streaming and other IVAS revenues reached $170.2 million, a 97.5% increase from 2024. Total revenues: Q4 2025 total revenues were $143.3 million, a 17% year-over-year increase. Full year 2025 total revenue hit $462.4 million, a 42.5% increase from 2024

• Management believes well-positioned to capitalize on market opportunities and deliver sustained growth in 2026 and beyond. • Will use cash from transactions for core business development like R&D, product upgrades, market expansion, and optimizing capital structure. • Intends to allocate funds from ArashiVision stake towards R&D of emerging technologies and new business exploration, and assess shareholder reward options based on business and market conditions

Q: What is the plan for the cash consideration from the transaction?

A: Will use it for development of core businesses such as R&D in technology, product upgrades, market expansion, brand promotion, and optimizing operating capital structure.

Q: Why sell stake in OneThing to Kingsoft Cloud?

A: Chose Kingsoft Cloud for maximum return and because it has advantages in cloud infrastructure, R&D, and industry solutions to support OneThing's development.

Q: What's the plan with ArashiVision stake after lockup expires?

A: Intends to allocate funds towards R&D of emerging technologies and new business initiatives, and will assess shareholder reward options based on business situation and capital market conditions