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The latest update is out from Xunlei ( (XNET) ).
Xunlei reported unaudited results for the fourth quarter and full year 2025 on March 12, 2026, highlighting rapid top-line expansion across all major business lines, particularly cloud computing and overseas audio live-streaming. Fourth-quarter revenue jumped 70% year-on-year to $143.3 million, with live-streaming and other IVAS and cloud computing both more than doubling, although gross margin narrowed to 43% as lower-margin businesses made up a larger share of sales.
Despite improved operating income of $4.7 million in the quarter, Xunlei posted a Q4 net loss of $228.9 million, mainly driven by a sharp swing in other income/losses linked to fair-value changes in a long-term investment, while non-GAAP net income slipped to $4.8 million. For 2025 as a whole, revenue rose 42.5% to $462.4 million and GAAP net income surged to $1,047.6 million, but non-GAAP earnings declined, underscoring margin pressure as the company pursues growth in lower-margin cloud and live-streaming segments and reshapes its portfolio toward consumer pan-entertainment services.
The most recent analyst rating on (XNET) stock is a Hold with a $8.00 price target. To see the full list of analyst forecasts on Xunlei stock, see the XNET Stock Forecast page.
Spark’s Take on XNET Stock
According to Spark, TipRanks’ AI Analyst, XNET is a Neutral.
Xunlei’s overall stock score is driven by strong earnings call performance and undervaluation, offset by technical analysis indicating bearish trends and financial performance concerns. The company’s strategic investments and revenue growth are positive, but operational inefficiencies and cost challenges need addressing.
To see Spark’s full report on XNET stock, click here.
More about Xunlei
Xunlei Limited is a Shenzhen-based technology company listed on Nasdaq that provides distributed cloud services and internet pan-entertainment products in China and overseas. Its core businesses span subscription-based services, cloud computing, and live-streaming and other internet value-added services, including a fast-growing overseas audio live-streaming segment and advertising operations enhanced by the acquisition of sports community platform Hupu.
Average Trading Volume: 285,217
Technical Sentiment Signal: Hold
Current Market Cap: $379.3M
See more data about XNET stock on TipRanks’ Stock Analysis page.