China's video streaming platform Bilibili (NASDAQ: BILI) released its first quarter (Q1) unaudited financial report as of March 31, 2018 on May 24th. According to the report, Bilibili’s Q1 total net revenue reached RMB 868 million (approximately USD 138.4 million), a year-over-year increase of 105%, and its net loss was RMB 57.8 million (approximately USD 9.2 million), a decrease of 14% compared to the net loss of RMB 67.4 million over the same period last year. 

Performance Highlights of Q1:

• The average number of Monthly Active Users (MAU) was 77.5 million, a year-over-year growth of 35%. Mobile MAU accounted for 82% of the total MAU.

• The average number of monthly paying users was 2.5 million, a year-over-year increase of 190%. The average number of monthly paying mobile game users was 800,000, a year-over-year increase of 79%.

• The total net revenue reached RMB 868 million (approximately USD 138.4 million), a year-over-year growth of 105%;

• The net loss was RMB 57.8 million (approximately USD 9.2 million), a decrease of 14% compared to the net loss of RMB 67.4 million over the same period last year. The net loss rate was 7% while the net loss rate over the same period last year was 16%;

• The adjusted net loss was RMB 3.2 million (approximately USD 500,000), a decrease of 95% compared to the adjusted net loss of RMB 59.6 million over the same period last year. The adjusted net loss rate was 0.4% while the adjusted net loss rate over the same period last year was 14%.

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