DouYu (DOYU, Financial) has released its financial results for the fourth quarter and full year ending December 31, 2024. The company reported a 12.3% decrease in total net revenue for Q4, amounting to RMB 1.136 billion. Net losses widened to RMB 163.7 million, compared to a net loss of RMB 62.2 million in the same period of 2023. On a non-GAAP basis, adjusted net loss was RMB 68.8 million, up from RMB 5 million in 2023.
For the full year 2024, DouYu's total net revenue was RMB 4.2708 billion, down from RMB 5.5304 billion in 2023. The company reported a net loss of RMB 297.4 million, contrasting with a net profit of RMB 35.5 million in the previous year. On a non-GAAP basis, the adjusted net loss was RMB 239.9 million, compared to a net profit of RMB 154 million in 2023.
In Q4, DouYu's average mobile monthly active users (MAU) were 44.5 million, down from 51.7 million in the same quarter of 2023. The average number of paying users decreased to 3.3 million from 3.7 million.
Q4 financials showed total revenue of RMB 1.136 billion (approximately $155.6 million), with live streaming services revenue dropping 28.4% to RMB 730.9 million ($100.1 million). Other revenue streams, including advertising, rose by 47.2% to RMB 405.1 million ($55.5 million). Revenue costs decreased by 8.8% to RMB 1.0662 billion ($146.1 million), with bandwidth costs down by 30% to RMB 70.3 million ($9.6 million).
DouYu's gross profit for Q4 was RMB 69.8 million ($9.6 million), with a gross margin of 6.1%, down from 9.7% in 2023. Operating expenses decreased across sales, marketing, R&D, and administrative areas. The operating loss was RMB 183.5 million ($25.1 million), with a non-GAAP adjusted operating loss of RMB 108.1 million.
For the year, DouYu's gross profit was RMB 323.8 million ($44.4 million), with a non-GAAP adjusted operating loss of RMB 488.7 million ($67 million). The company ended 2024 with RMB 4.4678 billion ($612.1 million) in cash and equivalents, down from RMB 6.8555 billion at the end of 2023.
