EX-99.1 2 d901877dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

Bilibili Inc. Announces Fourth Quarter 2019 and Fiscal Year 2019 Financial Results

SHANGHAI, March 17, 2020 — Bilibili Inc. (“Bilibili” or the “Company”) (NASDAQ: BILI), a leading online entertainment platform for young generations in China, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2019.

Fourth Quarter 2019 Highlights:

 

   

Total net revenues reached RMB2,007.8 million (US$288.4 million), a 74% increase from the same period in 2018.

 

   

Average monthly active users (MAUs1) reached 130.3 million, mobile MAUs reached 116.1 million, representing increases of 40% and 46%, respectively, from the same period in 2018.

 

   

Average daily active users (DAUs) reached 37.9 million, a 41% increase from the same period in 2018.

 

   

Revenue per MAU was RMB15.4, a 24% increase from the same period in 2018. Non-game revenue per MAU was RMB8.7, an 83% increase from the same period in 2018.

 

   

Average monthly paying users (MPUs2) reached 8.8 million, a 100% increase from the same period in 2018.

“2019 was a transformational year as we gained broader recognition as the go-to online entertainment platform in China,” said Mr. Rui Chen, Chairman of the Board and Chief Executive Officer of Bilibili. “We closed the year on a high-note, with exceptional user growth, top line results that exceeded our guidance and improved gross margin. Our diverse content library and unique community fuel continuous expansion of our user base. Both MAUs and DAUs reached record high in the fourth quarter, up 40% and 41% year-over-year, respectively. We are thrilled to see that our platform is increasingly welcomed by a mass audience. Our 2020 New Year’s Eve Gala event not only exemplified our deep understanding of young people’s interests, but also impressed generations born in the ’70s and ’80s, and quickly became one of the most talked about New Year’s Eve broadcasts in China. To further our growth momentum in 2020, we will continue to cultivate a healthy content ecosystem and enhance our community bond. Paired with our effective user acquisition strategy and improving commercialization capabilities, we are committed to unleashing the great potential of our expanding online entertainment ecosystem.”

Mr. Sam Fan, Chief Financial Officer of Bilibili, said, “For the fourth quarter of 2019, our total net revenues surpassed RMB2 billion, up 74% year-over-year, once again exceeding the top end of our guidance. We continue to convert our fast growing traffic to paying users with diverse premium content and services. MPUs grew 100% year-over-year, reaching 8.8 million in the fourth quarter of 2019. As our top line expands and operational efficiency improves, we are delighted to see increasing gross margin for three consecutive quarters, reaching 19.8% in the fourth quarter of 2019. In 2020, we are positioned to further execute on our growth strategy, with a keen focus on maximizing shareholder value, while maintaining our high quality growth standards.”


Fourth Quarter 2019 Financial Results

Total net revenues. Total net revenues were RMB2,007.8 million (US$288.4 million), representing an increase of 74% from the same period of 2018.

Mobile games. Revenues from mobile games were RMB871.4 million (US$125.2 million), representing an increase of 22% from the same period of 2018. The increase was primarily due to the increasing popularity of both existing and newly launched mobile games.

Live broadcasting and Value-added services (VAS). Revenues from live broadcasting and VAS were RMB570.9 million (US$82.0 million), representing an increase of 183% from the same period of 2018, mainly attributable to the Company’s enhanced monetization efforts, led by increases in the number of paying users for live broadcasting services and the Company’s premium membership program and other VAS.

Advertising. Revenues from advertising were RMB289.6 million (US$41.6 million), representing an increase of 81% from the same period of 2018. This increase was primarily attributable to the increase in revenues from brand advertising and performance-based advertising, driven by the enhancement of recognition of Bilibili’s brand name in China’s online advertising market.

E-commerce and others. Revenues from e-commerce and others were RMB275.9 million (US$39.6 million), representing an increase of 241% from the same period of 2018, primarily attributable to the increase in sales of products through the Company’s e-commerce platform.

Cost of revenues. Cost of revenues was RMB1,609.9 million (US$231.2 million), representing an increase of 68% compared to the same period of 2018. Revenue-sharing cost, a key component of cost of revenues, was RMB705.1 million (US$101.3 million), representing an increase of 63% from the same period in 2018.

Gross profit. Gross profit was RMB397.9 million (US$57.2 million), representing an increase of 102% from the same period in 2018.

Total operating expenses. Total operating expenses were RMB817.9 million (US$117.5 million), representing an increase of 68% from the same period of 2018.

Sales and marketing expenses. Sales and marketing expenses were RMB413.2 million (US$59.3 million), representing a 127% increase year-over-year. The increase was primarily attributable to the increased channel and marketing expenses associated with Bilibili’s app and brand, including promotional activities for offline events, for example, the 2020 New Year’s Eve Gala, as well as promotional expenses for the Company’s mobile games. The increase was also attributed to the increase in headcount in sales and marketing personnel, and the increase in fulfillment costs associated with Bilibili’s e-commerce business.

General and administrative expenses. General and administrative expenses were RMB159.5 million (US$22.9 million), representing a 6% increase year-over-year.

Research and development expenses. Research and development expenses were RMB245.2 million (US$35.2 million), representing a 60% increase year-over-year. The increase was primarily due to increased headcount in research and development personnel, and increased share-based compensation expenses.


Loss from operations. Loss from operations was RMB419.9 million (US$60.3 million), compared to RMB288.8 million in the same period of 2018.

Income tax expense. Income tax expense was RMB6.9 million (US$1.0 million), compared to RMB9.0 million in the same period of 2018.

Net loss. Net loss was RMB387.2 million (US$55.6 million), compared to RMB190.8 million in the same period of 2018.

Adjusted net loss3. Adjusted net loss, which is a non-GAAP measure that excludes share-based compensation expenses and amortization expense related to intangible assets acquired through business acquisitions, was RMB336.9 million (US$48.4 million), compared to RMB152.0 million in the same period of 2018.

Basic and diluted EPS and adjusted basic and diluted EPS3. Basic and diluted net loss per share were RMB1.17 (US$0.17), compared to RMB0.59 in the same period of 2018. Adjusted basic and diluted net loss per share were RMB1.01 (US$0.15), compared to RMB0.46 in the same period of 2018.

Cash and cash equivalents, time deposits and short-term investments. As of December 31, 2019, the Company had cash and cash equivalents, time deposits, as well as short-term investments of RMB8.1 billion (US$1,158.9 million), compared to RMB5.2 billion as of December 31, 2018.

Fiscal Year 2019 Financial Results

Total net revenues. Total net revenues increased to RMB6,777.9 million (US$973.6 million), representing an increase of 64% from 2018.

Mobile games. Revenues from mobile games increased to RMB3,597.8 million (US$516.8 million), representing an increase of 23% from 2018. The increase was primarily due to the increased number of paying users for mobile games.

Live broadcasting and Value-added services (VAS). Revenues from live broadcasting and VAS increased to RMB1,641.0 million (US$235.7 million), representing an increase of 180% from 2018, mainly attributable to the Company’s enhanced monetization efforts, led by the increases in the number of paying users for Bilibili’s live broadcasting services, as well as its premium membership program and other VAS.

Advertising. Revenues from advertising increased to RMB817.0 million (US$117.4 million), representing an increase of 76% from 2018. This increase was primarily attributable to increased revenues from brand advertising and performance-based advertising.

E-commerce and others. Revenues from e-commerce and others were RMB722.1 million (US$103.7 million), representing an increase of 403% from 2018, primarily attributable to the increase in sales of products through the Company’s e-commerce platform.

Cost of revenues. Cost of revenues increased by 71% to RMB5,587.7 million (US$802.6 million), compared to RMB3,273.5 million in 2018. Revenue-sharing cost, a key component of cost of revenues, was RMB2,494.4 million (US$358.3 million), representing an increase of 53% from 2018.


Gross profit. Gross profit increased to RMB1,190.2 million (US$171.0 million), representing an increase of 39% from 2018.

Total operating expenses. Total operating expenses increased to RMB2,685.4 million (US$385.7 million), representing an increase of 69% from 2018.

Sales and marketing expenses. Sales and marketing expenses were RMB1,198.5 million (US$172.2 million), representing a 105% increase year-over-year. The increase was primarily attributable to increased channel and marketing expenses associated with Bilibili’s app and brand, including offline events, as well as promotional expenses for the Company’s mobile games, an increase in headcount in sales and marketing personnel, and an increase in fulfillment costs associated with Bilibili’s e-commerce business.

General and administrative expenses. General and administrative expenses were RMB592.5 million (US$85.1 million), representing a 28% increase year-over-year. The increase was primarily due to increased general and administrative personnel-related expenses, increased amortization expense related to intangible assets acquired through business acquisitions, and increased other miscellaneous expenses associated with Bilibili’s business expansion.

Research and development expenses. Research and development expenses were RMB894.4 million (US$128.5 million), representing a 66% increase year-over-year. The increase was primarily due to increased headcount in research and development personnel and increased share-based compensation expenses.

Loss from operations. Loss from operations was RMB1,495.2 million (US$214.8 million), compared to RMB729.0 million in 2018.

Interest expense. Interest expense was RMB46.5 million (US$6.7 million), mainly derived from the convertible senior notes the Company offered in April 2019.

Income tax expense. Income tax expense was RMB35.9 million (US$5.2 million), compared to RMB26.0 million in 2018.

Net loss. Net loss was RMB1,303.6 million (US$187.2 million), compared to RMB565.0 million in 2018.

Adjusted net loss3. Adjusted net loss, which is a non-GAAP measure that excludes share-based compensation expenses and amortization expense related to intangible assets acquired through business acquisitions, was RMB1,081.5 million (US$155.3 million), compared to RMB377.4 million in 2018.

Basic and diluted EPS and adjusted basic and diluted EPS3. Basic and diluted net loss per share were RMB3.99 (US$0.57), compared to RMB2.64 in 2018. Adjusted basic and diluted net loss per share were RMB3.30 (US$0.47), compared to RMB1.84 in 2018.

Notes to Unaudited Financial Information

The unaudited financial information disclosed in this press release is preliminary. The audit of the financial statements and related notes to be included in the Company’s annual report on Form 20-F for the year ended December 31, 2019 is still in progress. In addition, because an audit of the Company’s internal controls over financial reporting in connection with section 404 of the Sarbanes-Oxley Act of 2002 has not yet been completed, the Company makes no representation as to the effectiveness of those internal controls as of December 31, 2019.


Adjustments to the financial statements may be identified when the audit work is completed, which could result in significant differences between the Company’s audited financial statements and this preliminary unaudited financial information.

Outlook

For the first quarter of 2020, the Company currently expects net revenues to be between RMB2.15 billion and RMB2.20 billion.

The above outlook is based on the current market conditions and reflects the Company’s preliminary estimates, which are all subject to change, particularly in light of the uncertainties related to how COVID-19 develops.

 

1 

Beginning in the first quarter of 2019, the Company began counting mobile MAUs of Bilibili Comic and Maoer toward its MAUs. Bilibili Comic is a mobile application offering comic content the Company launched in November 2018. Maoer is a platform that offers audio drama. In December 2018, Company increased its shareholdings and acquired majority equity interests in Maoer Inc., operator of Maoer app. In the fourth quarter of 2019, Bilibili Comic and Maoer in aggregate contributed 7.5 million to Bilibili’s total MAUs.

 

2 

The paying users are calculated by number of users who paid for games, live broadcasting, premium membership, Bilibili Comic and Maoer, after eliminating duplicates of users paid for multiple services other than users of Maoer. The Company adds the number of paying users of Maoer toward its total paying users without eliminating duplicates.

 

3 

Adjusted net loss and adjusted basic and diluted EPS are non-GAAP financial measures. For more information on non-GAAP financial measures, please see the section of “Use of Non-GAAP Financial Measures” and the table captioned “Unaudited Reconciliations of GAAP and Non-GAAP Results” set forth at the end of this press release.


Conference Call

The Company’s management will host an earnings conference call at 9:00 PM U.S. Eastern time on March 17, 2020 (9:00 AM Beijing/Hong Kong time on March 18, 2020).

Dial-in details for the earnings conference call are as follows:

 

United States:

  

+1-866-519-4004

International:

  

+65-6713-5090

Hong Kong:

  

800-906-601

China:

  

400-620-8038

Conference ID:

  

6064648

Participants should dial-in approximately 5 minutes before the scheduled start time and ask to be connected to the call for “Bilibili Inc.”

Additionally, a live and archived webcast of the conference call and investor presentation will be available on the Company’s investor relations website at http://ir.bilibili.com.

A replay of the conference call will be accessible by phone two hours after the conclusion of the live call at the following numbers, until March 24, 2020:

 

United States:

  

+1-855-452-5696

International:

  

+61-2-8199-0299

Hong Kong:

  

800-963-117

China:

  

400-632-2162

Replay Access Code:

  

6064648

About Bilibili Inc.

Bilibili represents the iconic brand of online entertainment with a mission to enrich the everyday life of young generations in China. Bilibili is a full-spectrum online entertainment world covering a wide array of genres and media formats, including videos, live broadcasting and mobile games. Bilibili provides an immersive entertainment experience and high-quality content that caters to the evolving and diversified interests of its users and communities, and has built its platform based on the strong emotional connections of Bilibili’s users to its content and communities.

For more information, please visit: http://ir.bilibili.com.

Use of Non-GAAP Financial Measures

The Company uses non-GAAP measures, such as adjusted net loss, adjusted net loss per share and per ADS, basic and diluted, in evaluating its operating results and for financial and operational decision-making purposes. The Company believes that the non-GAAP financial measures help identify underlying trends in its business by excluding the impact of share-based compensation expenses and amortization expense related to intangible assets acquired through business acquisitions, which are non-cash charges. The Company believes that the non-GAAP financial measures provide useful information about the Company’s results of operations, enhance the overall understanding of the Company’s past performance and future prospects and allow for greater visibility with respect to key metrics used by the Company’s management in its financial and operational decision-making.


The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools, and when assessing the Company’s operating performance, cash flows or liquidity, investors should not consider them in isolation, or as a substitute for net loss, cash flows provided by operating activities or other consolidated statements of operations and cash flows data prepared in accordance with U.S. GAAP.

The Company mitigates these limitations by reconciling the non-GAAP financial measures to the most comparable U.S. GAAP performance measures, all of which should be considered when evaluating the Company’s performance.

For more information on the non-GAAP financial measures, please see the table captioned “Unaudited Reconciliations of GAAP and Non-GAAP Results” set forth at the end of this press release.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars (“US$”) at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to US$ were made at the rate of RMB6.9618 to US$1.00, the exchange rate on December 31, 2019 set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or US$ amounts referred could be converted into US$ or RMB, as the case may be, at any particular rate or at all.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident,” “potential,” “continue,” or other similar expressions. Among other things, the Outlook and quotations from management in this announcement, as well as Bilibili’s strategic and operational plans, contain forward-looking statements. Bilibili may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Bilibili’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Bilibili’s strategies; Bilibili’s future business development, financial condition and results of operations; Bilibili’s ability to retain and increase the number of users, members and advertising customers, provide quality content, products and services, and expand its product and service offerings; competition in the online entertainment industry; Bilibili’s ability to maintain its culture and brand image within its addressable user communities; Bilibili’s ability to manage its costs and expenses; PRC governmental policies and regulations relating to the online entertainment industry, general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release, and the Company undertakes no duty to update such information, except as required under applicable law.


For investor and media inquiries, please contact:

In China:

Bilibili Inc.

Juliet Yang

Tel: +86-21-2509 9255 Ext. 8523

E-mail: ir@bilibili.com

The Piacente Group, Inc.

Emilie Wu

Tel: +86-21-6039-8363

E-mail: bilibili@tpg-ir.com

In the United States:

The Piacente Group, Inc.

Brandi Piacente

Tel: +1-212-481-2050

E-mail: bilibili@tpg-ir.com


BILIBILI INC.

Unaudited Condensed Consolidated Statements of Operations

(All amounts in thousands, except for share and per share data)

 

     For the Three Months Ended     For the Year Ended  
     December 31,
2018
    September 30,
2019
    December 31,
2019
    December 31,
2018
    December 31,
2019
 
 
     RMB     RMB     RMB     RMB     RMB  

Net revenues:

          

Mobile games

     712,842       933,133       871,365       2,936,331       3,597,809  

Live broadcasting and VAS

     201,824       452,518       570,860       585,643       1,641,043  

Advertising

     159,917       247,186       289,595       463,490       817,016  

E-commerce and others

     80,962       226,126       275,949       143,467       722,054  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total net revenues

     1,155,545       1,858,963       2,007,769       4,128,931       6,777,922  

Cost of revenues

     (958,501     (1,507,684     (1,609,854     (3,273,493     (5,587,673

Gross profit

     197,044       351,279       397,915       855,438       1,190,249  

Operating expenses:

          

Sales and marketing expenses

     (182,257     (363,859     (413,166     (585,758     (1,198,516

General and administrative expenses

     (150,063     (163,217     (159,524     (461,165     (592,497

Research and development expenses

     (153,483     (247,308     (245,168     (537,488     (894,411
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total operating expenses

     (485,803     (774,384     (817,858     (1,584,411     (2,685,424
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Loss from operations

     (288,759     (423,105     (419,943     (728,973     (1,495,175

Other income/(expense):

          

Investment income/(loss), net

     75,113       513       (418     96,440       96,610  

Interest income

     26,347       52,018       36,386       68,706       162,782  

Interest expense

     —         (16,047     (14,858     —         (46,543

Exchange losses

     (4,525     (5,640     (3,201     (1,661     (11,789

Other, net

     10,046       (5,362     21,749       26,455       26,412  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total other income, net

     106,981       25,482       39,658       189,940       227,472  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Loss before income tax

     (181,778     (397,623     (380,285     (539,033     (1,267,703

Income tax

     (9,046     (8,082     (6,926     (25,988     (35,867
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net loss

     (190,824     (405,705     (387,211     (565,021     (1,303,570

Accretions to preferred shares redemption value

     —         —         —         (64,605     —    

Net loss/(income) attributable to noncontrolling interests

     10,852       (1,652     4,370       13,301       14,597  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net loss attributable to the Bilibili Inc.’s shareholders

     (179,972     (407,357     (382,841     (616,325     (1,288,973

Net loss per share, basic

     (0.59     (1.24     (1.17     (2.64     (3.99

Net loss per ADS, basic

     (0.59     (1.24     (1.17     (2.64     (3.99

Net loss per share, diluted

     (0.59     (1.24     (1.17     (2.64     (3.99

Net loss per ADS, diluted

     (0.59     (1.24     (1.17     (2.64     (3.99

Weighted average number of ordinary shares, basic

     307,015,929       327,231,439       327,692,893       233,047,703       323,161,680  

Weighted average number of ADS, basic

     307,015,929       327,231,439       327,692,893       233,047,703       323,161,680  

Weighted average number of ordinary shares, diluted

     307,015,929       327,231,439       327,692,893       233,047,703       323,161,680  

Weighted average number of ADS, diluted

     307,015,929       327,231,439       327,692,893       233,047,703       323,161,680  

The accompanying notes are an integral part of this press release.


BILIBILI INC.

NOTES TO UNAUDITED FINANCIAL INFORMATION

(All amounts in thousands, except for share and per share data)

 

     For the Three Months Ended      For the Year Ended  
     December 31,
2018
     September 30,
2019
     December 31,
2019
     December 31,
2018
     December 31,
2019
 
 
     RMB      RMB      RMB      RMB      RMB  

Share-based compensation expenses included in:

              

Cost of revenues

     5,019        6,381        5,715        28,173        23,281  

Sales and marketing expenses

     2,890        3,424        3,945        11,499        14,269  

General and administrative expenses

     14,939        21,855        16,287        102,544        68,497  

Research and development expenses

     12,571        19,688        15,607        38,977        66,503  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total

     35,419        51,348        41,554        181,193        172,550  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 


BILIBILI INC.

Unaudited Condensed Consolidated Balance Sheets

(All amounts in thousands, except for share and per share data)

 

     December 31,      December 31,  
     2018      2019  
     RMB      RMB  

Assets

     

Current assets:

     

Cash and cash equivalents

     3,540,031        4,962,660  

Time deposits

     749,385        1,844,558  

Accounts receivable, net

     324,392        744,845  

Prepayments and other current assets

     990,851        1,511,191  

Short-term investments

     945,338        1,260,810  
  

 

 

    

 

 

 

Total current assets

     6,549,997        10,324,064  
  

 

 

    

 

 

 

Non-current assets:

     

Property and equipment, net

     394,898        516,087  

Production cost

     204,231        443,533  

Intangible assets, net

     1,419,435        1,657,333  

Deferred tax assets

     —          10,479  

Goodwill

     941,488        1,012,026  

Long-term investments

     979,987        1,251,129  

Other long-term assets

     —          301,916  
  

 

 

    

 

 

 

Total non-current assets

     3,940,039        5,192,503  
  

 

 

    

 

 

 

Total assets

     10,490,036        15,516,567  
  

 

 

    

 

 

 

Liabilities

     

Current liabilities:

     

Accounts payable

     1,307,598        1,904,042  

Salary and welfare payables

     246,815        355,936  

Taxes payable

     38,505        67,856  

Deferred revenue

     985,143        1,369,000  

Accrued liabilities and other payables

     720,773        575,763  
  

 

 

    

 

 

 

Total current liabilities

     3,298,834        4,272,597  
  

 

 

    

 

 

 

Non-current liabilities:

     

Long-term debt

     —          3,414,628  

Other long-term liabilities

     —          192,882  
  

 

 

    

 

 

 

Total non-current liabilities

     —          3,607,510  
  

 

 

    

 

 

 

Total liabilities

     3,298,834        7,880,107  
  

 

 

    

 

 

 

Total Bilibili Inc.’s shareholders’ equity

     6,950,796        7,052,484  

Noncontrolling interests

     240,406        583,976  
  

 

 

    

 

 

 

Total shareholders’ equity

     7,191,202        7,636,460  
  

 

 

    

 

 

 

Total liabilities and shareholders’ equity

     10,490,036        15,516,567  
  

 

 

    

 

 

 


BILIBILI INC.

Unaudited Reconciliations of GAAP and Non-GAAP Results

All amounts in thousands, except for share and per share data

 

     For the Three Months Ended     For the Year Ended  
     December 31,
2018
    September 30,
2019
    December 31,
2019
    December 31,
2018
    December 31,
2019
 
     RMB     RMB     RMB     RMB     RMB  

Net loss

     (190,824     (405,705     (387,211     (565,021     (1,303,570

Add:

          

Share-based compensation expenses

     35,419       51,348       41,554       181,193       172,550  

Amortization expense related to intangible assets acquired through business acquisitions

     3,366       11,305       8,722       6,432       49,517  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted net loss

     (152,039     (343,052     (336,935     (377,396     (1,081,503
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net loss attributable to the Bilibili Inc.’s shareholders

     (179,972     (407,357     (382,841     (616,325     (1,288,973

Add:

          

Share-based compensation expenses

     35,419       51,348       41,554       181,193       172,550  

Amortization expense related to intangible assets acquired through business acquisitions

     3,366       11,305       8,722       6,432       49,517  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted net loss attributable to the Bilibili Inc.’s shareholders

     (141,187     (344,704     (332,565     (428,700     (1,066,906
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted net loss per share, basic

     (0.46     (1.05     (1.01     (1.84     (3.30

Adjusted net loss per ADS, basic

     (0.46     (1.05     (1.01     (1.84     (3.30

Adjusted net loss per share, diluted

     (0.46     (1.05     (1.01     (1.84     (3.30

Adjusted net loss per ADS, diluted

     (0.46     (1.05     (1.01     (1.84     (3.30

Weighted average number of ordinary shares, basic

     307,015,929       327,231,439       327,692,893       233,047,703       323,161,680  

Weighted average number of ADS, basic

     307,015,929       327,231,439       327,692,893       233,047,703       323,161,680  

Weighted average number of ordinary shares, diluted

     307,015,929       327,231,439       327,692,893       233,047,703       323,161,680  

Weighted average number of ADS, diluted

     307,015,929       327,231,439       327,692,893       233,047,703       323,161,680