HUYA

MKT CAP:$708M

HUYA Inc.

Market Cap

$708M

Communication Services·Entertainment·🇨🇳 China·NYSE

Communication·Entertainment·🇨🇳·NYSE

Stock Price

$3.17+$0.15 (+4.79%)

Apr 20, 2026

Company Details

HUYA Inc., through its subsidiaries, operates game live streaming platforms in the People's Republic of China. Its platforms enable broadcasters and viewers to interact during live streaming. The company's live streaming content also covers...

CEO

Junhong Huang

IPO Date

May 11, 2018

Website

www.huya.com

Key Metrics TTM

Revenue

$924M

+4.0% YoY

Net Income

-$16M

EPS (Diluted)

-$0.07

Free Cash Flow

$0

Revenue / Share

$4.04

Gross Margin

13.8%

Operating Margin

-3.1%

Net Margin

-1.7%

FCF Margin

0.0%

P/S

0.8x

P/E

—

Earnings Reports

Q1 2026

May 12, 2026

PENDING

FY 2025

Dec 30, 2025

$924M+4.0%EPS -$0.07

Q4 2025

Mar 17, 2026

$228M+4.4%EPS -$0.07

Q3 2025

Nov 12, 2025

$247M+9.8%EPS $0.01

Q2 2025

Aug 12, 2025

$229M+1.7%EPS -$0.00

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 20	$411M	$91M	$33M
Q4 20	$437M	$87M	$27M
Q1 21	$381M	$75M	$24M
Q2 21	$433M	$85M	$27M
Q3 21	$435M	$74M	$12M
Q4 21	$410M	$156.2K	-$67M
Q1 22	$360M	$49M	-$9M
Q2 22	$332M	$32M	-$12M
Q1 24	$220M	$32M	-$6M
Q2 24	$225M	$31M	-$4M
Q3 24	$225M	$30M	-$5M
Q4 24	$219M	$25M	-$14M
Q1 25	$220M	$28M	-$9M
Q2 25	$229M	$31M	-$3M
Q3 25	$247M	$33M	-$2M
Q4 25	$228M	$36M	-$14M

Valuation

Quarter	P/S	P/E
Q3 20	3.9x	55.3x
Q4 20	2.8x	36.3x
Q1 21	3.0x	37.4x
Q2 21	2.5x	32.7x
Q3 21	1.2x	12.0x
Q4 21	1.0x	19.8x
Q1 22	0.8x	21.8x
Q2 22	0.7x	38.5x
Q1 24	0.8x	—
Q2 24	0.9x	85.4x
Q3 24	1.2x	78.6x
Q4 24	0.8x	—
Q1 25	0.8x	—
Q2 25	0.9x	—
Q3 25	0.8x	—
Q4 25	0.7x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 20	$0	$0
Q1 24	$0	$0
Q2 24	$0	$0
Q3 24	$0	$0
Q4 24	$0	$0
Q1 25	$0	$0
Q2 25	$0	$0

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 20	+40.0%	+33.4%
Q4 20	+32.0%	+27.3%
Q1 21	+5.6%	+3.2%
Q2 21	+22.8%	+22.0%
Q3 21	+5.7%	+11.6%
Q4 21	-6.1%	+16.5%
Q1 22	-5.4%	+3.4%
Q2 22	-23.2%	-15.3%
Q1 24	-49.5%	-46.7%
Q2 24	-45.1%	-52.0%
Q3 24	-37.6%	-37.8%
Q4 24	-34.3%	-32.6%
Q1 25	+0.3%	+1.7%
Q2 25	+1.7%	+1.5%
Q3 25	+9.8%	+8.4%
Q4 25	+4.4%	+4.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 20	$0	0.0%
Q1 24	$2M	1.1%
Q2 24	$3M	1.1%
Q3 24	$2M	0.9%
Q4 24	$3M	1.2%
Q1 25	$3M	1.2%
Q2 25	$3M	1.2%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q3 20	$27M	$17M	$21M	—
Q4 20	$32M	$14M	$28M	—
Q1 21	$29M	$12M	$21M	—
Q2 21	$30M	$11M	$24M	—
Q3 21	$30M	$12M	$34M	—
Q4 21	$30M	$13M	$32M	—
Q1 22	$29M	$12M	$21M	—
Q2 22	$25M	$12M	$15M	—
Q1 24	$20M	$9M	$11M	—
Q2 24	$19M	$9M	$9M	—
Q3 24	$18M	$7M	$11M	—
Q4 24	$18M	$12M	$9M	—
Q1 25	$19M	$9M	$9M	—
Q2 25	$18M	$9M	$8M	—
Q3 25	$18M	$8M	$10M	—
Q4 25	$16M	—	—	$28M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$216M	$1.3B	$1.5B
Q2 22	$302M	$1.3B	$1.6B
Q3 22	$158M	$1.4B	$1.6B
Q4 22	$101M	$1.3B	$1.4B
Q1 23	$284M	$1.1B	$1.4B
Q2 23	$101M	$1.2B	$1.3B
Q3 23	$121M	$1.1B	$1.2B
Q4 23	$75M	$1.0B	$1.1B
Q1 24	$79M	$969M	$1.0B
Q2 24	$147M	$815M	$962M
Q3 24	$160M	$800M	$960M
Q4 24	$174M	$595M	$769M
Q1 25	$43M	$726M	$769M
Q2 25	$73M	$439M	$512M
Q3 25	$106M	$445M	$551M
Q4 25	$103M	$457M	$560M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 20	240M	+1.9%	+2.8%
Q4 20	241M	+0.2%	+2.0%
Q1 21	242M	+0.4%	+2.4%
Q2 21	242M	-0.1%	+2.3%
Q3 21	241M	-0.0%	+0.4%
Q4 21	239M	-0.9%	-0.7%
Q1 22	240M	+0.2%	-0.9%
Q2 22	241M	+0.7%	-0.1%
Q1 24	236M	-2.1%	-2.1%
Q2 24	234M	-0.9%	-2.1%
Q3 24	233M	-0.5%	-2.8%
Q4 24	231M	-1.0%	-4.5%
Q1 25	232M	+0.4%	-2.0%
Q2 25	228M	-1.7%	-2.8%
Q3 25	231M	+1.6%	-0.7%
Q4 25	229M	-1.0%	-0.8%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 20	$220.7K	2K
Q4 20	$210.6K	2K
Q1 21	$183.4K	2K
Q2 21	$208.6K	2K
Q3 21	$209.5K	2K
Q4 21	$198.5K	2K
Q1 22	$174.2K	2K
Q2 22	$160.8K	2K
Q1 24	$163.4K	1K
Q2 24	$167.5K	1K
Q3 24	$167.0K	1K
Q4 24	$174.7K	1K
Q1 25	$176.2K	1K
Q2 25	$183.0K	1K
Q3 25	$197.2K	1K
Q4 25	$182.4K	1K

Revenue / Employee