JOYY

MKT CAP:$3B

JOYY, Inc. Sponsored ADR Class A

Market Cap

$3B

Communication Services·Internet Content & Information·🇸🇬 Singapore·NASDAQ

Communication·Internet·🇸🇬·NASDAQ

Stock Price

$62.75-$1.99 (-3.07%)

Apr 20, 2026

Company Details

JOYY Inc., together with its subsidiaries, operates social media platforms that offer users engaging and experience across various video and audio-based social platforms. The company operates Bigo Live, a live streaming platform that allows...

CEO

Ting Li

IPO Date

Nov 21, 2012

Website

joyy.sg

Key Metrics TTM

Revenue

$2.1B

-7.7% YoY

Net Income

$2.1B

EPS (Diluted)

$36.52

Free Cash Flow

$0

Revenue / Share

$40.42

Gross Margin

35.9%

Operating Margin

2.6%

Net Margin

98.6%

FCF Margin

0.0%

P/S

1.4x

P/E

1.5x

Earnings Reports

FY 2025

Dec 30, 2025

$2.1BEPS $4.20

Q4 2025

Mar 11, 2026

$584M+6.4%EPS $1.03

Q3 2025

Nov 20, 2025

$541MEPS $1.16

Q2 2025

Aug 27, 2025

$508MEPS $1.13

Q1 2025

May 27, 2025

$494MEPS $33.20

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 17	$555M	$219M	$126M
Q1 19	$712M	$241M	$71M
Q2 22	$596M	$218M	$39M
Q3 22	$587M	$220M	$20M
Q4 22	$605M	$212M	-$14M
Q1 23	$584M	$205M	$3M
Q3 23	$567M	$209M	$12M
Q4 24	$549M	$204M	-$428M
Q1 25	$494M	$179M	$12M
Q2 25	$508M	$185M	$6M
Q3 25	$541M	$193M	$19M
Q4 25	$584M	$207M	$18M

Valuation

Quarter	P/S	P/E
Q4 17	—	—
Q1 19	—	—
Q2 22	—	—
Q3 22	0.8x	1.6x
Q4 22	1.1x	2.5x
Q1 23	0.9x	3.6x
Q3 23	1.0x	3.8x
Q4 24	1.0x	—
Q1 25	1.1x	1.4x
Q2 25	1.3x	1.5x
Q3 25	1.5x	1.8x
Q4 25	1.6x	1.6x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 15	$0	$0
Q2 15	$0	$0
Q3 15	$0	$0
Q4 15	$1.7B	$1.5B
Q4 17	$3.6B	$3.2B
Q1 19	$144M	$144M
Q2 22	$59M	$59M
Q3 22	$0	$0
Q4 22	$0	$0
Q1 23	$0	$0
Q3 23	$0	$0
Q4 24	$0	$0

Capital Expenditures

Quarter	CapEx
Q1 15	$0
Q2 15	$0
Q3 15	$0
Q4 15	$210M
Q4 17	$387M
Q1 19	$0
Q2 22	$0
Q3 22	$0
Q4 22	$0
Q1 23	$0
Q3 23	$0
Q4 24	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 22	+8.9%	+44.1%
Q1 23	-18.0%	-9.4%
Q3 23	-4.9%	-0.4%
Q4 24	-6.4%	+72.4%
Q1 25	-18.3%	-22.1%
Q2 25	-13.0%	-13.6%
Q3 25	-4.6%	-6.0%
Q4 25	+6.4%	-42.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 15	$32M	—
Q2 15	$12M	—
Q3 15	$81M	—
Q4 15	$174M	—
Q4 17	$32M	5.8%
Q1 19	$27M	3.8%
Q2 22	$9M	1.5%
Q3 22	$0	0.0%
Q4 22	$11M	1.8%
Q1 23	$0	0.0%
Q3 23	$0	0.0%
Q4 24	$6M	1.1%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q4 17	$43M	$34M	$23M	—
Q1 19	$60M	$41M	$80M	—
Q2 22	$63M	$24M	$98M	—
Q3 22	$61M	$44M	$97M	—
Q4 22	$74M	$42M	$101M	—
Q1 23	$76M	$32M	$98M	—
Q3 23	$72M	$27M	$93M	—
Q4 24	$67M	$44M	$67M	—
Q1 25	$62M	$33M	$72M	—
Q2 25	$60M	$48M	$72M	—
Q3 25	$63M	—	—	$111M
Q4 25	$62M	—	—	$127M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$1.4B	$2.7B	$4.1B
Q2 22	$1.4B	$2.6B	$4.0B
Q3 22	$1.2B	$2.7B	$3.9B
Q4 22	$1.2B	$2.7B	$3.9B
Q1 23	$1.4B	$2.5B	$3.9B
Q2 23	$759M	$2.7B	$3.4B
Q3 23	$1.2B	$2.2B	$3.4B
Q4 23	$1.4B	$2.2B	$3.6B
Q1 24	$1.1B	$2.4B	$3.5B
Q2 24	$993M	$2.2B	$3.2B
Q3 24	$482M	$2.0B	$2.5B
Q4 24	$445M	$1.4B	$1.8B
Q1 25	$801M	$1.4B	$2.2B
Q2 25	$401M	$1.2B	$1.6B
Q3 25	$408M	$886M	$1.3B
Q4 25	$396M	$813M	$1.2B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 17	64M	—	—
Q1 19	70M	+8.4%	—
Q2 22	73M	+4.2%	—
Q3 22	82M	+13.2%	—
Q4 22	71M	-14.0%	+10.0%
Q1 23	81M	+14.5%	+16.1%
Q3 23	68M	-16.3%	-6.8%
Q4 24	54M	-20.6%	-34.6%
Q1 25	58M	+7.7%	-18.0%
Q2 25	53M	-7.8%	-34.0%
Q3 25	53M	+0.0%	-21.2%
Q4 25	53M	-1.4%	-2.1%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 17	$166.5K	3K
Q1 19	$164.7K	4K
Q2 22	$80.0K	7K
Q3 22	$78.8K	7K
Q4 22	$90.5K	7K
Q1 23	$87.4K	7K
Q3 23	$84.9K	7K
Q4 24	$94.5K	6K
Q1 25	$85.0K	6K
Q2 25	$87.3K	6K
Q3 25	$93.0K	6K
Q4 25	$100.5K	6K

Revenue / Employee