← JOYY Inc.
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Net income (loss) from continuing operations | — | — | — | — | — | — | — | $272.4m | ($242.6m) | $211.3m | |
| Net Income (Loss) Attributable to Parent | $219.5m | $383.2m | $1.6b | $494.9m | $1.5b | ($80.3m) | $128.9m | $301.8m | ($146.2m) | $2.1b | |
| Net Income (Loss) Available to Common Stockholders, Basic | — | — | $238.8m | $485.4m | $1.5b | ($89.5m) | $119.5m | $347.4m | ($147.6m) | $2.1b | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $217.7m | $385.5m | $307.7m | $531.5m | $1.5b | ($94.0m) | $101.6m | $272.4m | ($242.6m) | $2.1b | |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | — | — | — | — | ($16.1m) | ($115.9m) | $128.9m | $301.8m | — | $222.5m | |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | $1.5b | $2.5b | — | — | ($19.4m) | ($129.6m) | $101.6m | $272.4m | ($242.6m) | $211.3m | |
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | — | — | — | — | $1.5b | $35.6m | $0 | $0 | — | — | |
| Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | — | — | — | — | $1.5b | $35.6m | $0 | $0 | — | $1.9b | |
| Net Income (Loss) Attributable to Noncontrolling Interest | — | — | ($321.3m) | — | — | — | — | — | — | — | |
| Amortization of Intangible Assets | $14.5m | $9.6m | $10.0m | $103.1m | $115.9m | $67.2m | $65.2m | $73.4m | $65.5m | $64.0m | |
| Depreciation | $25.0m | $27.2m | $22.0m | $52.1m | $82.1m | $108.7m | $83.4m | $46.6m | $25.4m | $29.1m | |
| Depreciation of property and equipment | $173.6m | $176.7m | $22.0m | $362.5m | $535.5m | $108.7m | $83.4m | $46.6m | $25.4m | $29.1m | |
| Amortization of acquired intangible assets and land use rights | $100.9m | $62.4m | $69.1m | $717.8m | $756.4m | $67.2m | $65.2m | $73.4m | $65.5m | $64.0m | |
| Deferred Income Tax Expense (Benefit) | ($1.1m) | $602k | $7.2m | ($24.1m) | $13.4m | ($9.8m) | ($1.9m) | ($11.8m) | ($8.0m) | $362k | |
| Deferred income taxes, net | ($7.8m) | $3.9m | $7.2m | ($168.0m) | $87.2m | ($9.8m) | ($1.9m) | ($11.8m) | ($8.0m) | $362k | |
| Share-based Payment Arrangement, Noncash Expense | $22.7m | $39.6m | $94.3m | $136.2m | $97.5m | $33.4m | $44.1m | $32.0m | $23.2m | $25.8m | |
| Share-based Payment Arrangement, Expense | — | — | — | — | — | $0 | $9.0m | $10.2m | $7.9m | $2.9m | |
| Equity Securities without Readily Determinable Fair Value, Impairment Loss, Annual Amount | — | — | — | — | — | — | — | $0 | $9.4m | $15.0m | |
| Goodwill, Impairment Loss | $2.5m | $388k | $0 | $0 | — | $0 | $14.8m | $0 | $454.9m | $0 | |
| Impairment of Intangible Assets (Excluding Goodwill) | $551k | $0 | $0 | $440k | $0 | $0 | $1.4m | $0 | — | — | |
| Impairment of Intangible Assets, Finite-lived | $3.8m | — | $0 | $8.4m | $0 | $0 | $1.4m | $0 | $0 | $8.6m | |
| Impairment of investments | $80.1m | $43.2m | $35.3m | $62.3m | $43.9m | $93.6m | $0 | $0 | $9.4m | $15.0m | |
| Impairment of goodwill | $17.7m | $2.5m | $0 | $0 | $0 | $0 | $14.8m | $0 | $454.9m | $0 | |
| Impairment of other assets | — | — | — | — | — | — | — | $0 | $0 | $6.2m | |
| Share-based compensation | $157.3m | $257.7m | $648.0m | $948.1m | $636.0m | $33.4m | $44.1m | $32.0m | $23.2m | $25.8m | |
| Gain (Loss) on Extinguishment of Debt | — | — | — | — | — | $5.3m | $63.4m | $0 | $0 | — | |
| Equity Method Investment, Realized Gain (Loss) on Disposal | $3.6m | — | — | — | — | — | — | — | — | — | |
| Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | ($128k) | ($2.7m) | $116k | $2.3m | $5.7m | $3.2m | $7.5m | $3.8m | $721k | $7.5m | |
| Gain (Loss) on Disposition of Assets | — | — | — | — | — | — | $4.1m | $274k | $141k | ($1.2m) | |
| Income (Loss) from Equity Method Investments | $1.2m | $5.1m | $8.6m | $5.5m | ($7.9m) | ($26.2m) | ($498.4m) | $3.3m | ($1.6m) | $11.6m | |
| Income Tax Expense (Benefit) | $40.4m | $63.9m | $69.5m | $78.5m | $29.5m | $25.7m | $34.6m | $18.9m | $13.5m | $16.4m | |
| Interest Expense Nonoperating | — | — | — | — | — | — | — | — | $4.8m | $516k | |
| Other Nonoperating Income (Expense) | $0 | $0 | — | — | — | — | — | — | — | — | |
| Operating lease expense | — | — | — | — | — | — | — | $12.5m | $11.7m | $12.7m | |
| Share of (income) loss in equity method investments, net of income taxes | ($8.3m) | ($33.0m) | ($58.9m) | ($38.5m) | $51.8m | $26.2m | $498.4m | ($3.3m) | $1.6m | ($11.6m) | |
| Interest expense | — | — | $0 | $211.2m | $446.0m | $9.2m | $12.8m | $3.1m | $1.8m | $1.2m | |
| Changes in operating assets and liabilities: | |||||||||||
| Noncash investing and financing activities: | |||||||||||
| Additional Financial Items | |||||||||||
| Increase (Decrease) in Accounts Receivable | $4.9m | ($2.8m) | $6.6m | $22.6m | $59.1m | ($28.1m) | $20.2m | $32.4m | $13.7m | $45.0m | |
| Increase (Decrease) in Inventories | ($98k) | ($220k) | ($46k) | $0 | $0 | — | — | — | — | — | |
| Increase (Decrease) in Accounts Payable | $5.3m | ($6.0m) | $1.3m | — | — | — | — | — | — | — | |
| Accounts Receivable, Credit Loss Expense (Reversal) | $6.6m | $2.3m | $7.9m | $24.4m | $10.0m | $5.2m | $14.6m | $1.7m | $10.7m | $1.7m | |
| Proceeds from Stock Options Exercised | $1k | $3k | $1k | $3.3m | $0 | — | — | $180k | $113k | $87k | |
| Purchases of property and equipment, accrued but unpaid | $23.4m | $61.1m | $48.6m | $141.9m | $159.9m | $70.8m | $69.0m | $81.6m | $83.7m | $143.1m | |
| Deconsolidation, Gain (Loss), Amount | $15.0m | $5.8m | $0 | $11.9m | $0 | $5.0m | $0 | ($6.2m) | $1.6m | $0 | |
| Equity Securities, FV-NI, Gain (Loss) | — | — | $1.8b | $2.7b | $101.7m | $14.0m | $17.1m | $11.2m | ($587k) | ($278k) | |
| Equity Securities, FV-NI, Realized Gain (Loss) | — | — | — | — | ($6.4m) | $12.7m | $4.1m | $0 | $0 | $0 | |
| Foreign Currency Transaction Gain (Loss), before Tax | $167k | ($334k) | ($75k) | $1.4m | ($18.2m) | ($13.4m) | $11.7m | ($2.9m) | $764k | ($14.1m) | |
| Foreign Currency Transaction Gain (Loss), Unrealized | $167k | ($334k) | ($75k) | $1.4m | ($18.2m) | ($13.4m) | $11.7m | ($2.9m) | $764k | ($14.1m) | |
| General and Administrative Expense | $69.5m | $83.7m | $128.5m | $214.0m | $155.8m | $221.7m | $141.8m | $122.7m | $152.5m | $164.5m | |
| Goodwill | $2.1m | $1.8m | $1.7m | $1.9b | $1.9b | $2.0b | $2.6b | $2.6b | $2.2b | $2.2b | |
| Operating Expenses | $225.1m | $310.5m | $469.0m | $1.1b | $1.0b | $969.9m | $818.9m | $787.7m | $1.2b | $709.1m | |
| Proceeds from Contributed Capital | — | $78.3m | — | — | — | — | — | — | — | — | |
| Proceeds from Contributions from Affiliates | — | — | — | — | $150k | $0 | $0 | — | — | — | |
| Provision for Loan, Lease, and Other Losses | — | — | ($15.8m) | ($170.9m) | ($4.7m) | ($633k) | — | — | — | — | |
| Revenue from Contract with Customer, Including Assessed Tax | — | — | $128.8m | $222.3m | $108.2m | $2.6b | $2.4b | $2.3b | $2.2b | $2.1b | |
| Unrealized Gain (Loss) on Investments | — | — | $1.4b | $18.6m | $108.1m | $1.3m | $13.0m | $11.2m | ($587k) | ($278k) | |
| Expected credit loss of receivables | $45.9m | $15.1m | $54.1m | $169.5m | $64.9m | $5.2m | $14.6m | $1.7m | $10.7m | $1.7m | |
| Gain on disposal and deemed disposal of investments | — | — | ($16.2m) | $0 | ($1.9b) | — | ($4.1m) | ($74.9m) | $0 | $0 | |
| Loss (gain) on deconsolidation and disposal of subsidiaries | ($104.0m) | ($38.0m) | $0 | ($82.7m) | $0 | ($5.0m) | $0 | $6.2m | ($1.6m) | $0 | |
| Foreign currency exchange losses(gains), net | ($1.2m) | $2.2m | $514k | ($9.8m) | $118.9m | $13.4m | ($11.7m) | $2.9m | ($764k) | $14.1m | |
| Gain on fair value changes of investments | $0 | $0 | ($1.7b) | ($2.7b) | ($1.1b) | — | ($424.3m) | ($12.4m) | ($6.6m) | ($12.3m) | |
| Accounts receivable | ($34.3m) | $18.4m | ($45.7m) | ($157.3m) | ($385.4m) | $28.1m | ($20.2m) | ($32.4m) | ($13.7m) | ($45.0m) | |
| Prepayments and other assets | ($97.9m) | ($48.3m) | ($380.8m) | ($303.2m) | ($226.9m) | ($8.1m) | ($33.4m) | ($30.7m) | ($2.9m) | ($74.1m) | |
| Amounts due from related parties | $1.8m | $155k | $486k | ($14.6m) | ($15.4m) | ($20.7m) | $7.2m | $5.6m | $7.7m | $2.6m | |
| Lease liabilities | — | — | $0 | ($101.3m) | ($104.3m) | ($7.9m) | ($12.3m) | ($12.5m) | ($11.7m) | ($12.2m) | |
| Amounts due to related parties | $66.3m | ($18.6m) | ($1.9m) | $30.0m | $30.3m | $2.8m | ($41.3m) | ($1.8m) | ($28.1m) | $8.5m | |
| Accounts payable | $36.9m | ($39.1m) | $8.7m | ($26.3m) | ($81.4m) | ($18.5m) | $19.1m | ($5.6m) | ($22.7m) | ($3.5m) | |
| Deferred revenue | $81.5m | $366.6m | $227.6m | $384.8m | $269.6m | ($3.1m) | $8.6m | ($9.2m) | ($7.2m) | ($8.2m) | |
| Advances from customers | $10.8m | $24.3m | $21.3m | $48.4m | ($9.3m) | $2.6m | ($2.6m) | $2.6m | ($1.9m) | $1.4m | |
| Income taxes payable | $33.4m | $5.5m | $62.5m | $95.2m | ($23.7m) | $3.4m | $17.6m | $7.9m | ($7.8m) | ($14.8m) | |
| Accrued liabilities and other current liabilities | $376.4m | $435.1m | $947.0m | $1.4b | $743.9m | ($89.5m) | $30.1m | $23.5m | $52.4m | $80.3m | |
| Placements of short-term and long-term deposits | — | — | — | — | — | — | ($4.4b) | ($3.0b) | ($3.1b) | ($2.2b) | |
| Maturities of short-term and long-term deposits | — | — | — | — | — | — | $3.7b | $3.3b | $3.2b | $2.0b | |
| Placements of short-term investments | ($8.0b) | ($189.6m) | ($3.5b) | ($8.7b) | ($6.3b) | ($2.0b) | ($418.6m) | ($657.6m) | ($369.9m) | ($410.1m) | |
| Purchase of intangible assets and land use right | ($70.0m) | ($17.7m) | ($58.8m) | ($104.8m) | ($13.6m) | ($114.1m) | ($197k) | ($445k) | ($775k) | ($284k) | |
| Cash paid for investments | ($197.2m) | ($325.6m) | ($2.3b) | ($641.7m) | ($1.4b) | ($89.7m) | ($175.7m) | ($66.0m) | ($26.6m) | ($29.1m) | |
| Cash received from disposal of investments | $22.6m | $86.7m | $718.5m | $163.5m | $5.7b | $156.5m | $15.2m | $222.1m | $0 | $0 | |
| Proceeds from disposal of a subsidiary | — | — | — | — | — | — | $0 | $0 | $70.7m | $0 | |
| Loans to employees and third parties | ($6.6m) | ($20.6m) | ($282.0m) | ($63.0m) | ($56.2m) | ($9.5m) | ($1.0m) | ($650k) | ($18k) | $0 | |
| Repayments of loans from employees, related parties and third parties | — | — | — | — | — | $2.2m | $1.4m | $1.0m | $785k | $274k | |
| Others | — | — | — | — | $11.7m | ($5.8m) | ($9.6m) | $576k | ($6.9m) | $8.8m | |
| Proceeds from exercise of vested share options | $9k | $20k | $7k | $22.9m | $0 | $0 | $0 | $180k | $113k | $87k | |
| Purchase of non-controlling interests and redeemable non-controlling interests | — | — | $0 | $0 | ($18.1m) | ($216k) | $0 | ($22.0m) | $0 | $0 | |
| Purchase of capped call option in relation to repurchase of common shares | — | $0 | $0 | ($83.0m) | $84.8m | $0 | $0 | ($50.0m) | $0 | $0 | |
| Proceeds from bank borrowings | $0 | $621.1m | $691.6m | $1.6b | $1.1b | $39.7m | $44.5m | $95.2m | $42.2m | $10.5m | |
| Repayment of bank borrowings | $0 | $0 | ($1.3b) | ($1.0b) | ($918.4m) | ($147.6m) | ($11.7m) | ($82.5m) | ($84.6m) | ($10.6m) | |
| Repurchase of shares | $0 | $0 | $0 | ($168.1m) | ($732.9m) | ($398.6m) | ($138.1m) | ($273.9m) | ($259.4m) | ($132.8m) | |
| Cash paid on extinguishment of convertible bonds | — | — | — | $0 | $0 | ($62.1m) | ($87.7m) | ($432.2m) | ($406.0m) | $0 | |
| Settlement of capped call options | — | — | — | — | — | $0 | $0 | $7.8m | $0 | $0 | |
| -Accrued capital expenditure | $37.6m | $16.9m | $64.0m | $119.4m | $110.2m | $10.4m | $29.5m | $47.1m | $95.0m | $62.1m | |
| -Disposal of investments and business | $153.3m | $8.0m | $77.4m | $366.9m | $0 | $819k | $144k | $0 | $0 | $0 | |
| Derivative, Gain (Loss) on Derivative, Net | — | — | ($332.4m) | ($2.3m) | ($6.5m) | $5.3m | $63.4m | $0 | $0 | — | |
| Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | — | — | — | — | — | — | — | — | — | $1.9b | |
| Other Operating Income (Expense), Net | — | — | — | $46.3m | $8.6m | $20.4m | $17.5m | $9.7m | $6.1m | $2.3m | |
| Net Cash Provided by (Used in) Operating Activities | $2.4b | $571.5m | $649.4m | $658.1m | $524.8m | $210.4m | $316.5m | $295.6m | $308.7m | $302.3m | |
| Cash flows from investing activities: | |||||||||||
| Payments to Acquire Property, Plant, and Equipment | $23.4m | $61.1m | $48.6m | $141.9m | $159.9m | $70.8m | $69.0m | $81.6m | $83.7m | $143.1m | |
| Payments to Acquire Businesses, Net of Cash Acquired | — | $947k | $0 | $238.0m | $5.0m | ($7.0m) | ($27.9m) | $0 | $0 | — | |
| Payments to Acquire Investments | — | — | $339.7m | — | — | — | — | — | — | — | |
| Maturities of short-term investments | $0 | $65.0m | $2.7b | $4.1b | $6.4b | $1.5b | $889.9m | $752.2m | $19.4m | $188.0m | |
| Payments for (Proceeds from) Other Investing Activities | — | — | — | — | — | — | $9.6m | ($576k) | $6.9m | ($8.8m) | |
| Net cash provided (used in) by continuing investing activities | ($1.8b) | — | ($1.8b) | ($11.7b) | $4.8b | ($846.9m) | ($510.3m) | $420.4m | ($210.2m) | ($543.7m) | |
| Net cash provided by discontinued investing activities | — | — | ($4.5b) | ($3.9b) | $643.9m | $1.6b | $0 | $0 | $0 | $87.6m | |
| Net Cash Provided by (Used in) Investing Activities | ($1.8b) | ($620.6m) | ($915.6m) | ($2.2b) | $829.9m | $789.6m | ($510.3m) | $420.4m | ($210.2m) | ($456.1m) | |
| Cash flows from financing activities: | |||||||||||
| Proceeds from Issuance of Common Stock | — | $453.5m | ($651k) | $0 | $0 | — | — | — | — | — | |
| Payments for Repurchase of Common Stock | — | $0 | — | $24.1m | $112.3m | $398.6m | $138.1m | $273.9m | $259.4m | $132.8m | |
| Proceeds from Noncontrolling Interests | $1.5m | $10.0m | $96k | $0 | $1.6m | $5.5m | $17.0m | $0 | $0 | — | |
| Dividends paid | — | — | — | — | $68.4m | $160.1m | $145.9m | $84.2m | $0 | $155.5m | |
| Dividends Payable, Current | — | — | — | — | — | — | — | — | — | $27 | |
| Dividends Payable | — | — | — | — | — | — | — | $0 | $0 | — | |
| Dividends paid to shareholders | — | — | $0 | $0 | ($446.3m) | ($160.1m) | ($145.9m) | ($84.2m) | $0 | ($155.5m) | |
| Net Cash Provided by (Used in) Financing Activities | $10.7m | $214.0m | $606.1m | $1.4b | ($143.5m) | ($723.5m) | ($321.9m) | ($841.7m) | ($707.8m) | ($288.3m) | |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | $7.3m | $15.2m | ($89.1m) | $38.4m | ($53.2m) | $682k | $5.8m | $1.1m | |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | $2.2m | ($35.8m) | $50.1m | $105.5m | ($581.4m) | $38.4m | ($53.2m) | $682k | $5.8m | $1.1m | |
| Net decrease in cash, cash equivalents and restricted cash | $259.4m | $2.1b | $2.3b | ($1.6b) | $7.9b | $276.5m | ($515.7m) | ($125.8m) | ($609.4m) | ($442.1m) | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | $873.3m | $653.8m | $1.8b | $2.1b | $1.6b | $1.4b | — | — | |
| Restricted Cash and Investments, Current | $0 | $153.7m | $0 | $93.8m | $31.5m | $285k | $47.7m | $57.2m | $20.7m | $7.2m | |
| Cash, cash equivalents and restricted cash at the beginning of the year | $1.3b | $1.6b | $3.6b | $4.6b | $11.9b | $2.1b | $1.6b | $1.4b | $836.8m | $395.8m | |
| Supplemental disclosure of cash flow information: | |||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $8.6m | $6.4m | $1.4m | $7.7m | $15.2m | $15.5m | $8.7m | $7.8m | $3.0m | $516k | |
| -Income taxes paid | ($254.9m) | ($406.3m) | ($365.5m) | ($592.7m) | ($468.7m) | ($29.9m) | ($19.1m) | ($22.1m) | ($29.1m) | ($33.7m) |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.