JOYY Reports Fourth Quarter and FY2025 Financial Results: Q4 Revenue Returns to YoY Growth, BIGO Ads Momentum Continues, Delivering Strong Shareholder Returns

SINGAPORE, March 11, 2026 /PRNewswire/ -- JOYY Inc. (NASDAQ: JOYY) ("JOYY" or the "Company"), a global leading technology company, announced its unaudited financial results for the fourth quarter and full year of 2025.

In the fourth quarter of 2025, JOYY's total revenue was US$581.9 million, up 7.7% quarter over quarter and 5.9% year over year, marking a return to year-over-year revenue growth. Livestreaming revenue was US$394.4 million, up 1.5% quarter over quarter, marking the third consecutive quarter of sequential growth. BIGO Ads delivered accelerating revenue growth, up 61.5% year over year to US$128.1 million. For the full year of 2025, total revenue was US$2.12 billion. Livestreaming contributed US$1.53 billion, while BIGO Ads contributed US$398.5 million, up 38.5% year over year, driving total non‑livestreaming revenue, including ad revenue and others, to 28.0% of the Company's revenue, up 7.9 percentage points from 2024.

In 2025, JOYY delivered steady profitability growth. Non-GAAP¹ operating income and non-GAAP¹ EBITDA were US$150.8 million and US$189.8 million, up 10.8% and 10.9% year over year, respectively. In the fourth quarter, non‑GAAP¹ operating income stood at US$40.8 million, and operating cash flow for the fourth quarter totaled US$116.0 million. As of December 31, 2025, the Company held US$3.26 billion in net cash.

JOYY previously announced a shareholder return program of approximately US$900 million through dividends and share repurchases from 2025 through 2027. The Company has been actively executing its share repurchase program, with repurchases totaling US$67.4 million in the fourth quarter. In total, JOYY has distributed approximately US$332.0 million in dividends and share repurchases throughout 2025. In light of the double-digit improvements in operational profit in 2025, the Company will distribute an additional cash dividend of approximately US$20 million in the first quarter of 2026.

Ms. Ting Li, Chairperson and Chief Executive Officer of JOYY, commented, "Looking back at the full year of 2025, we made meaningful progress in shaping our strategic framework as a global technology company with multiple, synergistic growth engines. Our livestreaming revenue has returned to sequential growth. BIGO Ads achieved 38.5% year-over-year revenue growth, with our third-party Audience Network ads revenue accelerating to 56.3% year-over-year growth. Non-GAAP operating profit remained robust, up by 10.8% year over year. As we look ahead, with our social entertainment business serving as the cornerstone of profitability and cash flow, and BIGO Ads and e-commerce SaaS business fueling our next stage of growth, we are well-positioned for sustainable and profitable growth. Leveraging our integrated ecosystem, we remain committed to strengthening JOYY's position and delivering long-term value for our shareholders."

Fourth Quarter 2025 Financial Highlights

• Net revenues increased by 5.9% to US$581.9 million from US$549.4 million in the corresponding period of 2024 and by 7.7% from US$540.2 million in the third quarter of 2025.

- Livestreaming revenue was US$394.4 million, representing an increase of 1.5% from US$388.5 million in the third quarter of 2025.

- Advertising revenue increased by 62.4% to US$145.4 million from US$89.6 million in the corresponding period of 2024 and by 29.3% from US$112.5 million in the third quarter of 2025.

- Other revenues increased by 12.3% to US$42.1 million from US$37.5 million in the corresponding period of 2024 and by 7.2% from US$39.2 million in the third quarter of 2025.

• Operating income was US$18.3 million.
• Non-GAAP¹ operating income was US$40.8 million.
• Net Cash as of December 31, 2025 was US$3.26 billion.
• Net cash from operating activities was US$116.0 million, compared with US$110.5 million in the corresponding period of 2024.

Full Year 2025 Financial Highlights

• Net revenues were US$2,124.2 million.
• Operating income was US$55.8 million.
• Non-GAAP¹ operating income was US$150.8 million, up 10.8% from US$136.1 million in 2024.
• Non-GAAP¹ EBITDA was US$189.8 million, up 10.9% from US$171.2 million in 2024.

Fourth Quarter 2025 Business Highlights

Social Entertainment Business

In the fourth quarter, JOYY's core social entertainment business achieved its third consecutive quarter of sequential growth. Global average mobile MAUs reached 272.1 million, up 2.2% quarter over quarter. Traffic from its instant messenger increased 4.5% quarter over quarter, driven by high user stickiness and user organic growth. Both average user time spent and retention improved year over year. In the fourth quarter, the Company's livestreaming revenue grew 1.5% sequentially to US$394.4 million, while livestreaming revenue in developed countries increased 3.4% quarter over quarter. Backed by localized operational improvements, BIGO's total paying users increased 1.5% sequentially, while ARPPU continued to record modest sequential growth.

Bigo Live refined its streamer incentive structure and integrated AI-driven features across critical stages of the user journey, enhancing content consumption and improving payment experiences. In the fourth quarter, the number of mid-tier quality streamers grew sequentially by 7.8%, with the total streaming hours rising 10.3% quarter over quarter. By integrating LLM architecture and incorporating multi-modal information into the platform's recommendation systems, Bigo Live has improved its ability to understand both livestreaming content and user interests. This continuous optimization of recommendation precision and distribution efficiency led to a 5.6% quarter-over-quarter increase in Bigo Live's users' average viewing time. Bigo Live launched the "Featured" tab in the fourth quarter, improving the content consumption experience for new users, with particularly strong performance in developed markets and among premium user segments. In North America, new users' effective viewing rate increased by 10.3% quarter over quarter, average viewing time per user rose by 3.9%, and 30-day retention improved by 4.8%. Furthermore, user adoption of AI-generated virtual gifts continues to grow. As of January 2026, the consumption of AI interactive gifts on Bigo Live has surpassed 30% of the total virtual gift consumption.

During the quarter, Bigo Live launched its first all‑live reality show in North America, bringing nine top hosts together in Atlanta for an electrifying five-day competition. The new format drove a significant 3% organic DAU spike during showtime. The platform continued to strengthen local community ties through culturally rooted campaigns across the globe. These included Indonesia's Hari Batik Nasional initiative and Latin America's "Orgullo Nacional", which boosted regional engagement and created a space for cultural expression. Additionally, Bigo Live partnered with creators in the United States and Vietnam on community initiatives, supporting Thanksgiving meal assistance and Vietnamese Women's Day outreach for underprivileged women and children. Through these efforts, Bigo Live continues to deliver on its mission to bring positive social value to local communities. 

BIGO Ads Ad Tech Business

In the fourth quarter, BIGO Ads recorded revenue of US$128.1 million, up 61.5% year over year and 23.3% quarter over quarter. Third‑party Audience Network ad revenues grew 82.5% year over year and 27.3% quarter over quarter, with growth accelerating for the third consecutive quarter. BIGO Ads fueled this growth through broader traffic coverage, multi‑vertical advertiser expansion, and ongoing algorithm optimization.

First‑party traffic expanded steadily, supported by higher MAUs and ad fill rates that drove sequential revenue and profit growth. Third-party SDK traffic expansion continued, with SDK ad requests growing by 166% year over year and 23% quarter over quarter.

BIGO Ads continues to expand coverage across diverse verticals. With ongoing data accumulation, model iteration, and bidding strategy optimization, audience targeting accuracy and fulfillment efficiency have further improved, fueling accelerated revenue growth. In the fourth quarter, BIGO ads saw a 20% quarter-over-quarter increase in Web-based demand and 39% in its mobile-based IAA demand sequentially. Overall, the number of key accounts increased by 29%, and total spending from key accounts rose 34% quarter over quarter.

BIGO Ads continued to prioritize key developed markets, with North America revenue up over 21% quarter over quarter and Western Europe revenue up 46% quarter over quarter.

1. This press release includes certain non-GAAP financial measures as additional clarifying items to aid investors in further understanding the Company's performance and the impact that these items and events had on the financial results. The non-GAAP financial measures provided above should not be considered as a substitute for, or superior to, the measures of financial performance prepared in accordance with GAAP. For details of the non-GAAP measures, including the reconciliations of GAAP measures to non-GAAP measures, please refer to the press release titled "JOYY Reports Fourth Quarter and Full Year 2025 Unaudited Financial Results" issued by the Company on March 11, 2026.

SINGAPORE, March 11, 2026 /PRNewswire/ -- JOYY Inc. (NASDAQ: JOYY) ("JOYY" or the "Company"), a global leading technology company, announced its unaudited financial results for the fourth quarter and full year of 2025.

In the fourth quarter of 2025, JOYY's total revenue was US$581.9 million, up 7.7% quarter over quarter and 5.9% year over year, marking a return to year-over-year revenue growth. Livestreaming revenue was US$394.4 million, up 1.5% quarter over quarter, marking the third consecutive quarter of sequential growth. BIGO Ads delivered accelerating revenue growth, up 61.5% year over year to US$128.1 million. For the full year of 2025, total revenue was US$2.12 billion. Livestreaming contributed US$1.53 billion, while BIGO Ads contributed US$398.5 million, up 38.5% year over year, driving total non‑livestreaming revenue, including ad revenue and others, to 28.0% of the Company's revenue, up 7.9 percentage points from 2024.

In 2025, JOYY delivered steady profitability growth. Non-GAAP¹ operating income and non-GAAP¹ EBITDA were US$150.8 million and US$189.8 million, up 10.8% and 10.9% year over year, respectively. In the fourth quarter, non‑GAAP¹ operating income stood at US$40.8 million, and operating cash flow for the fourth quarter totaled US$116.0 million. As of December 31, 2025, the Company held US$3.26 billion in net cash.

JOYY previously announced a shareholder return program of approximately US$900 million through dividends and share repurchases from 2025 through 2027. The Company has been actively executing its share repurchase program, with repurchases totaling US$67.4 million in the fourth quarter. In total, JOYY has distributed approximately US$332.0 million in dividends and share repurchases throughout 2025. In light of the double-digit improvements in operational profit in 2025, the Company will distribute an additional cash dividend of approximately US$20 million in the first quarter of 2026.

Ms. Ting Li, Chairperson and Chief Executive Officer of JOYY, commented, "Looking back at the full year of 2025, we made meaningful progress in shaping our strategic framework as a global technology company with multiple, synergistic growth engines. Our livestreaming revenue has returned to sequential growth. BIGO Ads achieved 38.5% year-over-year revenue growth, with our third-party Audience Network ads revenue accelerating to 56.3% year-over-year growth. Non-GAAP operating profit remained robust, up by 10.8% year over year. As we look ahead, with our social entertainment business serving as the cornerstone of profitability and cash flow, and BIGO Ads and e-commerce SaaS business fueling our next stage of growth, we are well-positioned for sustainable and profitable growth. Leveraging our integrated ecosystem, we remain committed to strengthening JOYY's position and delivering long-term value for our shareholders."

Fourth Quarter 2025 Financial Highlights

• Net revenues increased by 5.9% to US$581.9 million from US$549.4 million in the corresponding period of 2024 and by 7.7% from US$540.2 million in the third quarter of 2025.

- Livestreaming revenue was US$394.4 million, representing an increase of 1.5% from US$388.5 million in the third quarter of 2025.

- Advertising revenue increased by 62.4% to US$145.4 million from US$89.6 million in the corresponding period of 2024 and by 29.3% from US$112.5 million in the third quarter of 2025.

- Other revenues increased by 12.3% to US$42.1 million from US$37.5 million in the corresponding period of 2024 and by 7.2% from US$39.2 million in the third quarter of 2025.

• Operating income was US$18.3 million.
• Non-GAAP¹ operating income was US$40.8 million.
• Net Cash as of December 31, 2025 was US$3.26 billion.
• Net cash from operating activities was US$116.0 million, compared with US$110.5 million in the corresponding period of 2024.

Full Year 2025 Financial Highlights

• Net revenues were US$2,124.2 million.
• Operating income was US$55.8 million.
• Non-GAAP¹ operating income was US$150.8 million, up 10.8% from US$136.1 million in 2024.
• Non-GAAP¹ EBITDA was US$189.8 million, up 10.9% from US$171.2 million in 2024.

Fourth Quarter 2025 Business Highlights

Social Entertainment Business

In the fourth quarter, JOYY's core social entertainment business achieved its third consecutive quarter of sequential growth. Global average mobile MAUs reached 272.1 million, up 2.2% quarter over quarter. Traffic from its instant messenger increased 4.5% quarter over quarter, driven by high user stickiness and user organic growth. Both average user time spent and retention improved year over year. In the fourth quarter, the Company's livestreaming revenue grew 1.5% sequentially to US$394.4 million, while livestreaming revenue in developed countries increased 3.4% quarter over quarter. Backed by localized operational improvements, BIGO's total paying users increased 1.5% sequentially, while ARPPU continued to record modest sequential growth.

Bigo Live refined its streamer incentive structure and integrated AI-driven features across critical stages of the user journey, enhancing content consumption and improving payment experiences. In the fourth quarter, the number of mid-tier quality streamers grew sequentially by 7.8%, with the total streaming hours rising 10.3% quarter over quarter. By integrating LLM architecture and incorporating multi-modal information into the platform's recommendation systems, Bigo Live has improved its ability to understand both livestreaming content and user interests. This continuous optimization of recommendation precision and distribution efficiency led to a 5.6% quarter-over-quarter increase in Bigo Live's users' average viewing time. Bigo Live launched the "Featured" tab in the fourth quarter, improving the content consumption experience for new users, with particularly strong performance in developed markets and among premium user segments. In North America, new users' effective viewing rate increased by 10.3% quarter over quarter, average viewing time per user rose by 3.9%, and 30-day retention improved by 4.8%. Furthermore, user adoption of AI-generated virtual gifts continues to grow. As of January 2026, the consumption of AI interactive gifts on Bigo Live has surpassed 30% of the total virtual gift consumption.

During the quarter, Bigo Live launched its first all‑live reality show in North America, bringing nine top hosts together in Atlanta for an electrifying five-day competition. The new format drove a significant 3% organic DAU spike during showtime. The platform continued to strengthen local community ties through culturally rooted campaigns across the globe. These included Indonesia's Hari Batik Nasional initiative and Latin America's "Orgullo Nacional", which boosted regional engagement and created a space for cultural expression. Additionally, Bigo Live partnered with creators in the United States and Vietnam on community initiatives, supporting Thanksgiving meal assistance and Vietnamese Women's Day outreach for underprivileged women and children. Through these efforts, Bigo Live continues to deliver on its mission to bring positive social value to local communities. 

BIGO Ads Ad Tech Business

In the fourth quarter, BIGO Ads recorded revenue of US$128.1 million, up 61.5% year over year and 23.3% quarter over quarter. Third‑party Audience Network ad revenues grew 82.5% year over year and 27.3% quarter over quarter, with growth accelerating for the third consecutive quarter. BIGO Ads fueled this growth through broader traffic coverage, multi‑vertical advertiser expansion, and ongoing algorithm optimization.

First‑party traffic expanded steadily, supported by higher MAUs and ad fill rates that drove sequential revenue and profit growth. Third-party SDK traffic expansion continued, with SDK ad requests growing by 166% year over year and 23% quarter over quarter.

BIGO Ads continues to expand coverage across diverse verticals. With ongoing data accumulation, model iteration, and bidding strategy optimization, audience targeting accuracy and fulfillment efficiency have further improved, fueling accelerated revenue growth. In the fourth quarter, BIGO ads saw a 20% quarter-over-quarter increase in Web-based demand and 39% in its mobile-based IAA demand sequentially. Overall, the number of key accounts increased by 29%, and total spending from key accounts rose 34% quarter over quarter.

BIGO Ads continued to prioritize key developed markets, with North America revenue up over 21% quarter over quarter and Western Europe revenue up 46% quarter over quarter.

1. This press release includes certain non-GAAP financial measures as additional clarifying items to aid investors in further understanding the Company's performance and the impact that these items and events had on the financial results. The non-GAAP financial measures provided above should not be considered as a substitute for, or superior to, the measures of financial performance prepared in accordance with GAAP. For details of the non-GAAP measures, including the reconciliations of GAAP measures to non-GAAP measures, please refer to the press release titled "JOYY Reports Fourth Quarter and Full Year 2025 Unaudited Financial Results" issued by the Company on March 11, 2026.

** This press release is distributed by PR Newswire through automated distribution system, for which the client assumes full responsibility. **

JOYY Reports Fourth Quarter and FY2025 Financial Results: Q4 Revenue Returns to YoY Growth, BIGO Ads Momentum Continues, Delivering Strong Shareholder Returns

At Anker Day 2026, Anker Innovations marks its 15th anniversary by unveiling THUS™ - ANKER's first neural-net Compute-in-Memory AI audio chip - and a new generation of products across soundcore and eufy.

NEW YORK and Bellevue, Wash., May 22, 2026 /PRNewswire/ -- Anker Innovations is hosting Anker Day 2026: Where Ultimate Meets Possible, its annual brand event to showcase the newest product launches and technology break-throughs across its portfolio. Where Ultimate Meets Possible will bring together media, retail buyers and key influencers for an exclusive look at what's next in consumer electronics, spanning premium audio, home energy and the smart home appliances.

Where Ultimate Meets Possible will be held at STORIED in New York City, an invite-only experience featuring keynote presentations, hands-on product demonstrations and a deep dive into the company's latest innovations.

Anker Day 2026 debuted innovations across three brands: soundcore's Liberty 5 Pro and Pro Max — the first earbuds powered by Anker's new THUS™ AI chip — alongside VibeOS AI platform and Nebula SpaceFlow; Anker SOLIX's S2000, the world's longest-lasting 2kWh home backup power station; and eufy's EdgeAgent™, a local AI home security agent, plus new baby care products.

Started With Power

Anker was founded in 2011 and released its first product in the following year: a 4,500mAh ultra-slim power bank. It was a modest beginning, but behind it was an engineering conviction that would shape everything that followed. If technology is going to make a meaningful difference in people's lives, it has to be built to the highest possible standard.

2012 - The Beginning
Anker's first product: a 4,500mAh ultra-slim power bank - the start of a commitment to putting well-engineered, reliable power in people's hands.

2013 - PowerIQ™
Introduced PowerIQ™, enabling fast-charging compatibility across both iOS and Android - setting the standard for universal charging intelligence.

2018 - GaN from Aerospace
An early adopter of Gallium Nitride (GaN) from aerospace applications for consumer charging - delivering a 40% size reduction without sacrificing output.

2019 - World's Smallest 18W Charger
Delivered the world's smallest 18W charger at the time - proving that ultimate performance and ultra-compact form are not a trade-off.

2022 - GaNPrime™
Pioneered high-power multi-port chargers with dynamic power distribution - intelligently allocating power across multiple devices simultaneously.

2023 - 240W Wall Charger
Delivered the industry's highest-power 240W wall charger at the time - meeting the demands of the most power-hungry professional setups.

2024 - InstaCord™ & UltraDura™
In 2024, InstaCord™ became Anker's most advanced retractable‑cable technology and UltraDura™ achieved industry‑leading durability.

2025 - GaNPrime™ 2.0 • PowerIQ™ 5.0 • AnkerSense™ View • TurboBoost™
GaNPrime™ 2.0 (most advanced fast charging), PowerIQ™ 5.0 (smartest compatibility), AnkerSense™ View (intelligent display technology), and TurboBoost™ for ultra-fast power bank recharging. The pursuit never stops.

Fifteen years. Eight technology generations. Every breakthrough driven by one and only promise: seeking the ultimate innovation, not as an end in itself, but because technology built to its highest standard is how we put the possibilities people want in their lives within reach. Technology in service of people. That is what this pursuit has always meant.

Today's Milestone: Anker Thus™

For 80 years, chip design has followed the same logic established by John von Neumann in 1945: separate the processor from memory, and shuttle data between them one instruction at a time. For eight decades across mainframes, desktops, and data centers, this model worked. AI breaks that assumption. A neural network draws on millions of learned parameters all at once - and in a wearable device, moving that data between memory and processor consumes more than 90 percent of chip power, leaving almost nothing for actual computation.

THUS™ applies a different principle: embed computation directly inside NOR Flash memory cells, where the model already lives. The model parameters never have to move. The energy previously consumed by data movement is redirected entirely to computation.

The first THUS™ AI chip debuts in earbuds, delivering up to 150 times more AI computing power on the environmental noise cancellation task than Anker's previous-generation flagship earphones.

Clear Calls - the chip's first disclosed feature - runs a large neural network entirely on-device, anchored by eight MEMS microphones and two bone conduction sensors, for a significantly clear call in any environment. Additional AI-powered features including Signature Sound and Voice Control debuted at Anker Day.

"Every AI chip built until now stores the model on one side and does the computation on the other. To think, the device has to carry all those parameters across, many times per second, every single inference. THUS™ puts the computation where the model already lives. The model never has to move again."

- Steven Yang, Founder and CEO, Anker Innovations

THUS™ takes inspiration from "Thus have I heard", a Buddhist phrase that reflects direct transmission - knowledge conveyed as it was experienced, without distortion.

All performance figures are based on internal Anker lab tests. The 150× AI computing power figure applies specifically to the environmental noise cancellation task and reflects the architectural change from rule-based to neural-net AI processing. It is not a general performance claim and does not reflect a process node upgrade. The environmental noise cancellation workload referenced here runs as an on-device neural network model on the first THUS™ chip.

Anker soundcore Liberty 5 Pro: The First Product Powered by Anker Thus™

The soundcore Liberty 5 Pro and Liberty 5 Pro Max are the first two products to ship with the THUS™ chip. Their positioning is organized around three on-device intelligence layers the chip enables - understanding, adapting, and tuning - each representing a function earbuds could not credibly perform before neural-net AI became viable at this scale. Coming to the market soon.

15 Years, One Promise

From our first power bank to a proprietary AI chip in 2026 - the categories we build in keep expanding, and so does the scope of what technology can do for people's lives. Our promise has been one and only, seeking the ultimate innovation, with the conviction that technology built to its highest standard makes the possibilities people want in their lives the ones they can actually live. Fifteen years is long enough to know that trust is earned slowly. Fifteen years in. The pursuit continues.

About Anker Innovations

Anker Innovations is a global consumer technology company driven by ultimate innovation, creating products that help people power, create, connect, and live more freely. Founded in 2011, Anker Innovations serves more than 200 million consumers across 146 countries and regions. Learn more at anker.com.

DISCLAIMER

*Statements in this news release that are not statements of historical fact may include forward-looking statements regarding future events or the future financial performance of the company. We wish to caution you that such statements are just predictions and that actual events or results may differ materially. Forward-looking statements involve a number of risks and uncertainties surrounding competitive and industry conditions, market acceptance for the company's products, risks of litigation, technological changes, developing industry standards and other factors related to the company's businesses. The actions referred to in this press release are not an admission or acknowledgement of any claim or allegation. The Company reserves all of its rights.

** This press release is distributed by PR Newswire through automated distribution system, for which the client assumes full responsibility. **

15 Years of Seeking Ultimate Innovation: From Power Banks to Proprietary AI THUS™ Chip

15 Years of Seeking Ultimate Innovation: From Power Banks to Proprietary AI THUS™ Chip

15 Years of Seeking Ultimate Innovation: From Power Banks to Proprietary AI THUS™ Chip