Hi! Can you please explain me how this section calculates?

It is clear about number of solved problems and its percent.
But what does "Beats 25.2%" and "Beats 10.4%" mean?
If it is talking about Time/Memory consumption - is it about the best one submission? or the last one?
Or maybe it is about the total number of solved problems? i.e. 25% of all registered users solved less than 9 tasks

P.S. I'm sure this question has already been asked, but I couldn't find similar topics through the search