Bilibili (BILI) Operating Expenses (2017 - 2026)
Bilibili (BILI) posted quarterly Operating Expenses of -$376.3 million for Q1 2026, down 8.19% year-over-year from -$409.8 million in Q1 2025, and down 3.55% quarter-over-quarter from -$363.4 million in Q4 2025.
Bilibili (BILI) Operating Expenses (2017 - 2026) Analysis & Trends
Bilibili's Operating Expenses history runs 10 years deep, the most recent figure standing at -$376.3 million for Q1 2026.
- In Q1 2026, Operating Expenses fell 8.19% year-over-year to -$376.3 million; the TTM figure through Mar 2026 stood at -$1.4 billion (changed 0.14% YoY), while the FY2025 annual figure was $1.4 billion, up 3.06% from the prior year.
- Operating Expenses for Q1 2026 stood at -$376.3 million, down from -$363.4 million in the prior quarter.
- The five-year high for Operating Expenses was -$334.1 million in Q2 2024, with the low at -$502.9 million in Q4 2022.
- The 5-year median for Operating Expenses is -$363.4 million (2025), against an average of -$380.8 million.
- Peak annual rise in Operating Expenses reached 69.3% in 2022, while the deepest fall reached 45.15% in 2022.
- Bilibili's Operating Expenses stood at -$502.9 million in 2022, then advanced by 18.13% to -$411.8 million in 2023, then advanced by 10.0% to -$370.6 million in 2024, then advanced by 1.94% to -$363.4 million in 2025, then fell by 3.55% to -$376.3 million in 2026.
- Business Quant data shows BILI's Operating Expenses at -$376.3 million in Q1 2026, -$363.4 million in Q4 2025, and -$344.3 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,165.61 Bn | 3,736.57 Bn | 73.85 Bn | 79.03 Bn |
| 2 | Meta Platforms | 1,523.46 Bn | 1,433.20 Bn | 49.47 Bn | 42.03 Bn |
| 3 | Taboola.com | 1,141.85 Bn | 1,141.71 Bn | 139.48 Mn | 132.22 Mn |
| 4 | Baidu | 288.34 Bn | 283.85 Bn | 1.88 Mn | 4.19 Bn |
| 5 | Spotify Technology | 103.44 Bn | 93.20 Bn | 1.75 Bn | 512.79 Mn |
| 6 | Joyy | 77.39 Bn | 76.50 Bn | 205.64 Mn | -187.82 Mn |
| 7 | BILI Social International | 60.58 Bn | 60.58 Bn | 405,933.00 | 303,858.00 |
| 8 | Nebius | 50.20 Bn | 40.57 Bn | 295.20 Mn | 527.00 Mn |
| 9 | 30.00 Bn | 27.22 Bn | 734.60 Mn | 573.19 Mn | |
| 10 | Bilibili | 7.55 Bn | 5.25 Bn | 400.37 Mn | -376.30 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -376.30 Mn |
| Dec 31, 2025 | -363.39 Mn |
| Sep 30, 2025 | -344.26 Mn |
| Jun 30, 2025 | -335.16 Mn |
| Mar 31, 2025 | -347.83 Mn |
| Dec 31, 2024 | -370.56 Mn |
| Sep 30, 2024 | -364.71 Mn |
| Jun 30, 2024 | -334.06 Mn |
| Mar 31, 2024 | -338.98 Mn |
| Dec 31, 2023 | -411.75 Mn |
| Sep 30, 2023 | -353.58 Mn |
| Jun 30, 2023 | -357.68 Mn |
| Mar 31, 2023 | -362.30 Mn |
| Dec 31, 2022 | -502.91 Mn |
| Sep 30, 2022 | -424.43 Mn |
| Jun 30, 2022 | -444.23 Mn |
| Mar 31, 2022 | -440.86 Mn |
| Dec 31, 2021 | -1.64 Bn |
| Sep 30, 2021 | -447.74 Mn |
| Jun 30, 2021 | -388.37 Mn |