Xunlei Limited (XNET) Revenue History
Annual and quarterly revenue from 2009 to present
XNET Revenue Over Time (2009–2025)
XNET Revenue Growth History
13 of 16 years with positive growth- FY2009 revenue growth
- N/A
- FY2010 revenue growth
- +47.8%
- FY2011 revenue growth
- +104.8%
- FY2012 revenue growth
- +71.6%
- FY2013 revenue growth
- +24.2%
- FY2014 revenue growth
- +2.8%
- FY2015 revenue growth
- -27.8%
- FY2016 revenue growth
- +20.5%
- FY2017 revenue growth
- +28.4%
- FY2018 revenue growth
- +15.0%
- FY2019 revenue growth
- -21.7%
- FY2020 revenue growth
- +3.2%
- FY2021 revenue growth
- +28.1%
- FY2022 revenue growth
- +43.0%
- FY2023 revenue growth
- +6.5%
- FY2024 revenue growth
- -11.2%
- FY2025 revenue growth
- +42.9%
| Quarter | Revenue | YoY |
|---|---|---|
| Q4 2025 | $143.1M | +70.4% |
| Q3 2025 | $125.9M | +57.7% |
| Q2 2025 | $103.5M | +30.5% |
| Q1 2025 | $88.5M | +10.6% |
| Q4 2024 | $84.0M | +9.3% |
| Q3 2024 | $79.8M | -4.9% |
| Q2 2024 | $79.3M | -23.7% |
| Q1 2024 | $80.0M | -19.1% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2023)
XNET's revenue distribution by segment and geography for fiscal year 2023
By Product/Segment
XNET Revenue Analysis (2009–2025)
Current Revenue & Growth
As of June 28, 2026, Xunlei Limited (XNET) generated trailing twelve-month (TTM) revenue of $461.0 million, reflecting explosive growth of +70.4% year-over-year. The most recent quarter (Q4 2025) recorded $143.1 million in revenue, up 13.7% sequentially.
Historical Growth Trajectory
XNET's 5-year compound annual growth rate (CAGR) stands at +19.9%, indicating consistent double-digit revenue growth. The 3-year CAGR of +10.6% is below the 5-year average, signalling a growth deceleration in recent years. Xunlei Limited's highest annual revenue of $461.6 million was recorded in 2025, an all-time high.
Revenue by Segment
XNET's revenue is primarily driven by Live streaming revenue (51%), and Subscription revenue (49%). With over half of revenue concentrated in Live streaming revenue, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Communication Services sector peers — including MOMO (-2.8% YoY), DOYU (-11.1% YoY), and HUYA (-2.1% YoY) — XNET has outperformed the peer group in revenue growth. Compare XNET vs MOMO →
XNET Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| XNETCurrent | $461M | +70.4% | +19.9% | 1.4% | |
 MOMO | $10.4B | -2.8% | -7.2% | 13.1% | |
 DOYU | $3.8B | -11.1% | -16.8% | 0.3% | |
 HUYA | $6.5B | -2.1% | -9.8% | -2.5% | |
 IQ | $27.3B | -87.0% | -1.7% | 0.8% | |
 BILI | $30.3B | +22.7% | +20.4% | 3.7% |
XNET Historical Revenue Data (2009–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $461.6M | +42.9% | $218.1M | 47.2% | $6.6M | 1.4% |
| 2024 | $323.1M | -11.2% | $167.6M | 51.9% | $-15,704,000 | -4.9% |
| 2023 | $363.7M | +6.5% | $163.1M | 44.8% | $-1,612,000 | -0.4% |
| 2022 | $341.5M | +43.0% | $141.4M | 41.4% | $10.1M | 2.9% |
| 2021 | $238.8M | +28.1% | $120.2M | 50.3% | $-4,323,000 | -1.8% |
| 2020 | $186.4M | +3.2% | $93.7M | 50.3% | $-18,793,000 | -10.1% |
| 2019 | $180.7M | -21.7% | $80.8M | 44.7% | $-56,422,000 | -31.2% |
| 2018 | $230.6M | +15.0% | $114.9M | 49.8% | $-44,329,000 | -19.2% |
| 2017 | $200.6M | +28.4% | $82.7M | 41.2% | $-54,201,000 | -27.0% |
| 2016 | $156.2M | +20.5% | $75.8M | 48.6% | $-33,467,000 | -21.4% |
| 2015 | $129.6M | -27.8% | $69.6M | 53.7% | $-12,465,000 | -9.6% |
| 2014 | $179.5M | +2.8% | $81.1M | 45.2% | $-11,762,000 | -6.6% |
| 2013 | $174.6M | +24.2% | $81.3M | 46.6% | $3.8M | 2.2% |
| 2012 | $140.5M | +71.6% | $56.5M | 40.2% | $2.1M | 1.5% |
| 2011 | $81.9M | +104.8% | $33.8M | 41.3% | $-3,133,000 | -3.8% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
17+ years return with dividends reinvested.
DCA Calculator
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Peer Comparison
Compare growth, multiples, and margins vs sector.
XNET — Frequently Asked Questions
Quick answers to the most common questions about buying XNET stock.
Is XNET's revenue growth accelerating or slowing?
XNET revenue growth is accelerating. TTM revenue reached $461M, up +70.4% year-over-year — ahead of the 5-year CAGR of +19.9%. This indicates the business is expanding faster than its historical baseline.
What is XNET's revenue history from 2009 to 2026?
Xunlei Limited (XNET) revenue history spans 2009 to 2026. TTM revenue as of 2026 is $461M, growing at +70.4% YoY. The 5-year CAGR is +19.9%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is XNET's long-term revenue growth rate (CAGR)?
Xunlei Limited's 5-year revenue CAGR of +19.9% reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +70.4% is above this long-term average. CAGR is the most reliable measure of sustained revenue momentum for XNET.
Why does XNET's quarterly revenue fluctuate?
XNET quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Xunlei Limited's revenue data from 2009 to 2026 shows full historical quarterly detail on this page.
How is XNET's revenue distributed by segment?
XNET reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does XNET's revenue compare to industry peers?
Xunlei Limited (XNET) with TTM revenue of $461M and +70.4% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.