Exhibit 99.1

Bilibili Inc. Announces Second Quarter 2026 Financial Results

SHANGHAI, China, August 27, 2026 — Bilibili Inc. (“Bilibili” or the “Company”) (Nasdaq: BILI and HKEX: 9626), an iconic brand and a leading video community for young generations in China, today announced its unaudited financial results for the second quarter ended June 30, 2026.

Second Quarter 2026 Highlights:

 

   

Average daily active users (DAUs) were 116.5 million, representing an increase of 7% year over year. Average daily time spent was 113 minutes, driving total user time spent up by 14% year over year.

 

   

Total net revenues were RMB7.94 billion (US$1.17 billion), representing an increase of 8% year over year. Advertising revenues, a key driver of total net revenues, were RMB3.13 billion (US$461.4 million), representing an increase of 28% year over year.

 

   

Gross profit was RMB2.95 billion (US$435.5 million), representing an increase of 10% year over year. Gross profit margin reached 37.2%, improving from 36.5% in the same period of 2025.

 

   

Net profit was RMB339.1 million (US$50.0 million), representing an increase of 55% year over year. Net profit margin was 4.3%, improving from 3.0% in the same period of 2025.

 

   

Adjusted net profit1 was RMB703.6 million (US$103.7 million), representing an increase of 25% year over year. Adjusted net profit margin1 was 8.9%, improving from 7.6% in the same period of 2025.

“We delivered a solid second quarter with continued growth across our ecosystem,” said Mr. Rui Chen, Chairman and Chief Executive Officer of Bilibili. “Our high-quality content and interest-based community continue to deepen user engagement, driving DAUs to 117 million, monthly active users to 371 million, and total user time spent up by over 14% year over year. In an era where content is abundant yet attention is scarce, quality and emotional connection matter more than ever, and Bilibili represents the best combination of both in today’s internet landscape. As AI enables us to fulfill this mission with greater precision and scale, we remain highly confident in our trajectory ahead.”

Mr. Sam Fan, Chief Financial Officer of Bilibili, said, “We delivered another quarter of solid financial performance, with continued revenue growth and profit expansion. Total net revenues increased 8% year over year to RMB7.9 billion, while gross profit grew 10% year over year and gross margin expanded to 37.2%, marking our 16th consecutive quarter of margin improvement. Supported by continued topline growth and stronger operating leverage, net profit increased by 55% year over year. Looking ahead, we will remain disciplined in our investments and actively return value through our share repurchase program, delivering sustainable long-term value for our shareholders.”

Second Quarter 2026 Financial Results

Total net revenues. Total net revenues were RMB7.94 billion (US$1.17 billion), representing an increase of 8% from the same period of 2025.

Advertising. Revenues from advertising were RMB3.13 billion (US$461.4 million), representing an increase of 28% from the same period of 2025, mainly attributable to the Company’s improved advertising product offerings and enhanced advertising efficiency.


Value-added services (VAS). Revenues from VAS were RMB2.97 billion (US$437.3 million), representing an increase of 5% from the same period of 2025, mainly attributable to increased revenues from premium memberships and other value-added services.

Mobile games. Revenues from mobile games were RMB1.39 billion (US$205.1 million), representing a decrease of 14% from the same period of 2025, mainly attributable to a high base effect, reflecting the exceptional performance of San Guo: Mou Ding Tian Xia in the prior-year period as the title now transitions into a stable and mature life cycle.

IP derivatives and others. Revenues from IP derivatives and others were RMB449.8 million (US$66.3 million), representing an increase of 2% from the same period of 2025.

Cost of revenues. Cost of revenues was RMB4.98 billion (US$734.7 million), representing an increase of 7% from the same period of 2025. Revenue-sharing costs, a key component of cost of revenues, were RMB3.08 billion (US$453.6 million), representing an increase of 4% from the same period of 2025.

Gross profit. Gross profit was RMB2.95 billion (US$435.5 million), representing an increase of 10% from the same period of 2025, primarily driven by the growth in total net revenues, which outpaced the increase in cost of revenues, as the Company enhanced its monetization efficiency.

Total operating expenses. Total operating expenses were RMB2.58 billion (US$380.6 million), representing an increase of 7% from the same period of 2025.

Sales and marketing expenses. Sales and marketing expenses were RMB1.06 billion (US$156.6 million), representing an increase of 1% from the same period of 2025.

General and administrative expenses. General and administrative expenses were RMB510.8 million (US$75.3 million), flat with the same period of 2025.

Research and development expenses. Research and development expenses were RMB1.01 billion (US$148.7 million), representing an increase of 16% from the same period of 2025. The increase was primarily due to higher expenses related to server depreciation.

Profit from operations. Profit from operations was RMB372.9 million (US$55.0 million), representing an increase of 48% year over year.

Adjusted profit from operations1. Adjusted profit from operations was RMB696.2 million (US$102.6 million), representing an increase of 21% from the same period of 2025.

Total other expenses, net. Total other expenses were RMB1.4 million (US$0.2 million), compared with total other expenses of RMB7.0 million in the same period of 2025.

Income tax expense. Income tax expense was RMB32.4 million (US$4.8 million), compared with RMB26.4 million in the same period of 2025.

Net profit. Net profit was RMB339.1 million (US$50.0 million), representing an increase of 55% from the same period of 2025.


Adjusted net profit1. Adjusted net profit was RMB703.6 million (US$103.7 million), representing an increase of 25% from the same period of 2025.

Basic and diluted EPS and adjusted basic and diluted EPS1. Basic and diluted earnings per share were RMB0.82 (US$0.12) and RMB0.78 (US$0.11), respectively, compared with basic and diluted net profit per share of RMB0.52 and RMB0.51, respectively, in the same period of 2025. Adjusted basic and diluted earnings per share were RMB1.69 (US$0.25) and RMB1.58 (US$0.23), respectively, compared with RMB1.34 and RMB1.29, respectively, in the same period of 2025.

Cash and cash equivalents, time deposits and short-term investments. As of June 30, 2026, the Company had cash and cash equivalents, time deposits and short-term investments of RMB24.30 billion (US$3.58 billion).

Share Repurchase Program

Pursuant to the Company’s two-year US$300 million share repurchase program, which was approved by the Board of Directors in June 2026 (the “2026 Program”), a total of 1.9 million of the Company’s listed securities have been purchased for a total cost of approximately US$31.3 million as of June 30, 2026. From the beginning of 2026 through the date of this announcement, a total of 5.8 million of the Company’s listed securities have been purchased for a total cost of approximately US$118 million, pursuant to the 2026 Program and the previous share repurchase program approved in November 2024.

 

1 

Adjusted net profit, adjusted net profit margin, adjusted profit from operations and adjusted basic and diluted EPS are non-GAAP financial measures. For more information on non-GAAP financial measures, please see the section “Use of Non-GAAP Financial Measures” and the table captioned “Unaudited Reconciliations of GAAP and Non-GAAP Results.”

Conference Call

The Company’s management will host an earnings conference call at 8:00 AM U.S. Eastern Time on August 27, 2026 (8:00 PM Beijing/Hong Kong Time on August 27, 2026). Details for the conference call are as follows:

Event Title: Bilibili Inc. Second Quarter 2026 Earnings Conference Call

Registration Link: https://register-conf.media-server.com/register/BI014b9f2c1441432badb1e9e1353bfea7

All participants must use the link provided above to complete the online registration process in advance of the conference call. Upon registering, each participant will receive a set of participant dial-in numbers and a personal PIN, which will be used to join the conference call.

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

About Bilibili Inc.

Bilibili is an iconic brand and a leading video community with a mission to enrich the everyday lives of young generations in China. Bilibili offers a wide array of video-based content with “All the Videos You Like” as its value proposition. Bilibili builds its community around aspiring users, high-quality content, talented content creators and the strong emotional bonds among them. Bilibili pioneered the “bullet chatting” feature, a live comment function that has transformed users’ viewing experience by displaying the thoughts and feelings of audience members viewing the same video. The Company has now become the welcoming home of diverse interests among young generations in China and a frontier for promoting Chinese culture around the world.


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

Use of Non-GAAP Financial Measures

The Company uses non-GAAP financial measures such as adjusted profit from operations, adjusted net profit, adjusted net profit margin, adjusted net profit per share and per ADS, basic and diluted and adjusted net profit attributable to Bilibili Inc.’s shareholders 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, amortization expense related to intangible assets acquired through business acquisitions, income tax related to intangible assets acquired through business acquisitions, loss on fair value change in investments in publicly traded companies and loss on repurchase of convertible senior notes. The Company calculates adjusted net profit margin by dividing the adjusted net profit by revenue for the same period. 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 and therefore, may not be comparable to similar measures presented by other companies. 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 profit, 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.”

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 RMB6.7851 to US$1.00, the exchange rate on June 30, 2026 set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or US$ amounts referred to 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, 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 (the “SEC”), in its interim and annual reports to shareholders, in announcements, circulars or other publications made on the website of The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), 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: results of operations, financial condition, and stock price; 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 SEC and the Hong Kong Stock Exchange. All information provided in this announcement and in the attachments is as of the date of the announcement, 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

Piacente Financial Communications

Helen Wu

Tel: +86-10-6508-0677

E-mail: bilibili@tpg-ir.com

In the United States:

Piacente Financial Communications

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 Six Months Ended  
    

June

30,

   

March

31,

   

June

30,

   

June

30,

   

June

30,

 
     2025     2026     2026     2025     2026  
     RMB     RMB     RMB     RMB     RMB  

Net revenues:

          

Value-added services (VAS)

     2,836,596       2,912,485       2,967,415       5,643,936       5,879,900  

Advertising

     2,448,888       2,588,788       3,130,759       4,446,523       5,719,547  

Mobile games

     1,612,333       1,522,552       1,391,902       3,343,488       2,914,454  

IP derivatives and others

     439,873       448,210       449,847       906,991       898,057  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total net revenues

     7,337,690       7,472,035       7,939,923       14,340,938       15,411,958  

Cost of revenues

     (4,661,844     (4,698,795     (4,984,967     (9,125,994     (9,683,762
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Gross profit

     2,675,846       2,773,240       2,954,956       5,214,944       5,728,196  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Operating expenses:

          

Sales and marketing expenses

     (1,048,189     (1,152,711     (1,062,592     (2,215,164     (2,215,303

General and administrative expenses

     (509,631     (532,667     (510,848     (1,025,269     (1,043,515

Research and development expenses

     (866,414     (921,107     (1,008,646     (1,707,891     (1,929,753
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total operating expenses

     (2,424,234     (2,606,485     (2,582,086     (4,948,324     (5,188,571
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Profit from operations

     251,612       166,755       372,870       266,620       539,625  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Other (expense)/income:

          

Investment (loss)/income, net (including impairments)

     (56,875     64,551       (74,102     (119,078     (9,551

Interest income

     101,639       107,832       100,895       195,812       208,727  

Interest expense

     (35,506     (39,337     (37,549     (68,077     (76,886

Exchange losses

     (11,710     (74,555     (89,671     (23,369     (164,226

Debt extinguishment loss

     (2     —        —        (2     —   

Others, net

     (4,518     (3,963     99,050       (6,355     95,087  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total other (expense)/income, net

     (6,972     54,528       (1,377     (21,069     53,151  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Profit before income tax

     244,640       221,283       371,493       245,551       592,776  

Income tax expense

     (26,357     (19,288     (32,417     (37,945     (51,705
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net profit

     218,283       201,995       339,076       207,606       541,071  

Net loss attributable to noncontrolling interests

     719       7,784       4,653       2,294       12,437  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net profit attributable to Bilibili Inc.’s

shareholders

     219,002       209,779       343,729       209,900       553,508  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net profit per share, basic

     0.52       0.50       0.82       0.50       1.32  

Net profit per ADS, basic

     0.52       0.50       0.82       0.50       1.32  

Net profit per share, diluted

     0.51       0.48       0.78       0.49       1.25  

Net profit per ADS, diluted

     0.51       0.48       0.78       0.49       1.25  

Weighted average number of ordinary shares, basic

     419,443,582       419,457,332       418,461,204       419,763,214       418,956,516  

Weighted average number of ADS, basic

     419,443,582       419,457,332       418,461,204       419,763,214       418,956,516  

Weighted average number of ordinary shares, diluted

     437,370,780       459,453,791       453,578,335       431,601,628       456,513,310  

Weighted average number of ADS, diluted

     437,370,780       459,453,791       453,578,335       431,601,628       456,513,310  

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 Six Months
Ended
 
    

June

30,

    

March

31,

    

June

30,

    

June

30,

    

June

30,

 
     2025      2026      2026      2025      2026  
     RMB      RMB      RMB      RMB      RMB  

Share-based compensation expenses included in:

              

Cost of revenues

     26,314        29,407        28,078        50,310        57,485  

Sales and marketing expenses

     19,800        23,828        22,122        36,217        45,950  

General and administrative expenses

     137,165        155,814        135,717        281,662        291,531  

Research and development expenses

     101,568        107,364        96,771        207,423        204,135  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total

     284,847        316,413        282,688        575,612        599,101  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 


BILIBILI INC.

Unaudited Condensed Consolidated Balance Sheets

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

 

    

December

31,

   

June

30,

 
     2025     2026  
     RMB     RMB  

Assets

    

Current assets:

    

Cash and cash equivalents

     12,183,538       5,163,796  

Time deposits

     5,522,327       9,766,542  

Restricted cash

     50,800       800  

Accounts receivable, net

     1,268,219       1,681,119  

Prepayments and other current assets

     2,077,999       2,190,632  

Short-term investments

     6,447,197       9,369,368  
  

 

 

   

 

 

 

Total current assets

     27,550,080       28,172,257  
  

 

 

   

 

 

 

Non-current assets:

    

Property and equipment, net

     695,105       2,076,571  

Production cost, net

     1,599,896       1,376,169  

Intangible assets, net

     3,109,603       2,893,031  

Goodwill

     2,818,125       2,818,125  

Long-term investments, net

     4,761,653       4,570,559  

Other long-term assets

     633,301       572,862  
  

 

 

   

 

 

 

Total non-current assets

     13,617,683       14,307,317  
  

 

 

   

 

 

 

Total assets

     41,167,763       42,479,574  
  

 

 

   

 

 

 

Liabilities

    

Current liabilities:

    

Accounts payable

     5,497,415       6,283,459  

Salary and welfare payables

     1,710,322       1,485,188  

Taxes payable

     405,887       400,415  

Short-term loans and current portion of long-term debts

     4,860,846       4,878,643  

Deferred revenue

     4,661,863       4,636,240  

Accrued liabilities and other payables

     3,190,679       3,705,014  
  

 

 

   

 

 

 

Total current liabilities

     20,327,012       21,388,959  
  

 

 

   

 

 

 

Non-current liabilities:

    

Long-term debts

     4,775,871       4,635,647  

Other long-term liabilities

     516,317       540,847  
  

 

 

   

 

 

 

Total non-current liabilities

     5,292,188       5,176,494  
  

 

 

   

 

 

 

Total liabilities

     25,619,200       26,565,453  
  

 

 

   

 

 

 

Total Bilibili Inc.’s shareholders’ equity

     15,573,282       15,951,277  

Noncontrolling interests

     (24,719     (37,156
  

 

 

   

 

 

 

Total shareholders’ equity

     15,548,563       15,914,121  
  

 

 

   

 

 

 

Total liabilities and shareholders’ equity

     41,167,763       42,479,574  
  

 

 

   

 

 

 


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 Six Months Ended  
    

June

30,

   

March

31,

   

June

30,

   

June

30,

   

June

30,

 
     2025     2026     2026     2025     2026  
     RMB     RMB     RMB     RMB     RMB  

Profit from operations

     251,612       166,755       372,870       266,620       539,625  

Add:

          

Share-based compensation expenses

     284,847       316,413       282,688       575,612       599,101  

Amortization expense related to intangible assets acquired through business acquisitions

     36,692       40,687       40,687       73,384       81,374  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted profit from operations

     573,151       523,855       696,245       915,616       1,220,100  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net profit

     218,283       201,995       339,076       207,606       541,071  

Add:

          

Share-based compensation expenses

     284,847       316,413       282,688       575,612       599,101  

Amortization expense related to intangible assets acquired through business acquisitions

     36,692       40,687       40,687       73,384       81,374  

Income tax related to intangible assets acquired through business acquisitions

     (4,136     (1,731     (1,731     (8,272     (3,462

Loss on fair value change in investments in publicly traded companies

     25,641       28,066       42,907       74,510       70,973  

Loss on repurchase of convertible senior notes

     2       —        —        2       —   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted net profit

     561,329       585,430       703,627       922,842       1,289,057  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net profit margin

     3.0     2.7     4.3     1.4     3.5
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted net profit margin

     7.6     7.8     8.9     6.4     8.4
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net loss attributable to noncontrolling interests

     719       7,784       4,653       2,294       12,437  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted net profit attributable to Bilibili Inc.’s shareholders

     562,048       593,214       708,280       925,136       1,301,494  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 


BILIBILI INC.

Unaudited Reconciliations of GAAP and Non-GAAP Results (Continued)

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

 

     For the Three Months Ended      For the Six Months Ended  
    

June

30,

    

March

31,

    

June

30,

    

June

30,

    

June

30,

 
     2025      2026      2026      2025      2026  
     RMB      RMB      RMB      RMB      RMB  

Adjusted net profit per share, basic

     1.34        1.41        1.69        2.20        3.11  

Adjusted net profit per ADS, basic

     1.34        1.41        1.69        2.20        3.11  

Adjusted net profit per share, diluted

     1.29        1.31        1.58        2.15        2.89  

Adjusted net profit per ADS, diluted

     1.29        1.31        1.58        2.15        2.89  

Weighted average number of ordinary shares, basic

     419,443,582        419,457,332        418,461,204        419,763,214        418,956,516  

Weighted average number of ADS, basic

     419,443,582        419,457,332        418,461,204        419,763,214        418,956,516  

Weighted average number of ordinary shares, diluted

     437,370,780        459,453,791        453,578,335        431,601,628        456,513,310  

Weighted average number of ADS, diluted

     437,370,780        459,453,791        453,578,335        431,601,628        456,513,310