, /PRNewswire/ — Kingsoft CloudHoldingsLimited (“KingsoftCloud”orthe”Company”) (NASDAQ:KCandHKEX: 3896), a leading cloud service provider in China, today announced its unaudited financial results for the first quarter ended March 31,2025.
Mr. Tao Zou, Chief Executive Officer ofKingsoft Cloud, commented, “Despite uncertainties in global supply chain, we believe the importance for cloud services as infrastructure in the AI-era is gaining greater traction. This quarter, our gross billing of AI business increased by 228% year- over-year to RMB525 million, accounting for 39% of our public cloud services. We are confident and fully committed into our AI related investment and high-quality and sustainable business development.”
Mr. HenryHe, Chief FinancialOfficerof Kingsoft Cloud, added, “Our revenue increased by 10.9% year-over-year, achieving RMB1,970.0 million for the first quarter; however sequentially we experienced seasonal decrease. Our adjusted gross profit was RMB327.7 million, increased by 9.6% year-over-year and decreased by 23.4% quarter-over-quarter. Adjusted gross margin was 16.6% in this quarter, compared with 16.8% in the first quarter 2024 and 19.2% in the fourth quarter last year. Our adjusted operating loss was RMB55.8 million, narrowed by 56% from RMB127.0 million in the same period last year. Our adjusted EBITDA profit achieved RMB318.5 million, representing an adjusted EBITDA margin of 16.2%”
FirstQuarter2025Financial Results
Total Revenues reached RMB1,970.0million(US$271.5[1]million),increased by10.9%year-over-yearfromRMB1,775.7 millionin thesamequarter of2024 anddecreasedby 11.7% quarter-over-quarter fromRMB2,232.1millioninthefourth quarterof2024.Theyear-over-year increase was mainly due totheexpandedrevenuefromXiaomiandKingsoftEcosystem and AI related customers and ourfurther penetrationintoenterprise cloudcustomers.Thequarter-over-quarterdecreasewasmainlyduetotheseasonality impactforenterprisecloud.
Revenues from public cloud services were RMB1,353.5 million (US$186.5 million), increased by 14.0% from RMB1,187.4 million in the same quarter of 2024 and decreased by 4.0% from RMB1,409.8 million last quarter. The year-over-year increase was mainly due to the growth of AI demands.
Revenues from enterprise cloud services were RMB616.5 million (US$85.0 million), representing an increase of 4.8% from RMB588.2 million in the same quarter of 2024 and a decrease of 25.0% from RMB822.3 million last quarter. The sequential decrease was mainly due to the Chinese New Year impact and differentiated delivery schedules for various projects.
Otherrevenueswere nilthis quarter.
Costofrevenueswas RMB1,651.7 million (US$227.6 million), representing an increase of 11.4% from RMB1,482.4 million in the same quarter of 2024, which was mainly due to our investment into AI computing resources. IDC costs decreased by 6.0% year-over-year from RMB768.5 million to RMB722.8 million (US$99.6 million) this quarter. The decrease was mainly due to our strict control over procurement costs. Depreciation and amortization costs increased from RMB183.5 million in the same quarter of 2024 to RMB378.5 million (US$52.2 million) this quarter. The increase was mainly due to the depreciation of newly acquired servers which were allocated to AI business. Solution development and services costs increased by 13.3% year-over-year from RMB446.0 million in the same quarter of 2024 to RMB505.2 million (US$69.6 million) this quarter. The increase was mainly due to the solution personnel expansion of Camelot. Fulfillment costs and other costs were RMB3.1 million (US$0.4 million) and RMB42.1 million (US$5.8 million) this quarter.
Gross profit was RMB318.3 million (US$43.9 million), representing an increase of 8.5% from RMB293.3 million in the same quarter of 2024, demonstrating our improvements in revenue quality and structure. Gross margin was 16.2%, remaining stable compared with 16.5% in the same period in 2024. Non-GAAP gross profit[2] was RMB327.7 million (US$45.2 million), compared with RMB299.1 million in the same period in 2024. Non-GAAP gross margin[2] was 16.6%, compared with 16.8% in the same period in 2024. The improvement of our gross profit was mainly due to the decrease of procurement costs. The sequential decrease of gross margin was mainly due to the growing investment into AI and the delay of high-margin profile enterprise cloud projects in first quarter.
Totaloperating expenseswere RMB552.5 million (US$76.1 million), decreased by 2.6% from RMB567.4 million in the same quarter last year and increased by 17.7% from RMB469.5 million last quarter. Among which:
Sellingandmarketingexpenses were RMB144.3 million (US$19.9 million), increased by 23.6% from RMB116.8 million in the same period in 2024 and increased by 24.7% from RMB115.8 million last quarter. The increase was due to the increase of one-time-off bonus of share based compensation.
Generalandadministrativeexpenses were RMB182.0million (US$25.1million), decreased by 16.8% from RMB218.7 million in the same period in 2024 and slightly increased by 1.4% from RMB179.5 million last quarter. The year-over-year decrease was mainly due to the decrease of credit loss expense, which was partially offset by the increase of share based compensation.
Researchanddevelopmentexpenses were RMB226.2 million (US$31.2 million), decreased by 2.5% from RMB232.0 million in the same period in 2024 and increased by 29.9% from RMB174.2 million last quarter. The increase was mainly due to our continuous investment into research and development personnel to enhance our technology competitiveness and increase of share based compensation.
Operating loss was RMB234.2 million (US$32.3 million), compared with operating loss of RMB274.2 million in the same quarter of 2024 and RMB43.5 million last quarter. The year-over-year improvement was mainly due to the increase of gross profit and our strict expenses control, while the sequential increase was mainly due to the impact of gross profitandincreaseof shared basedcompensation.Non-GAAP operating loss[3]wasRMB55.8million (US$7.7million), comparedwithoperatinglossofRMB127.0millioninthesamequarterlastyearandoperating profitof RMB24.4millionlastquarter.
NetlosswasRMB316.1million(US$43.6million),comparedwithnetlossofRMB363.6million inthesamequarter of2024andRMB200.6millionlastquarter.Non-GAAP net loss[4] was RMB190.6 million (US$26.3 million), compared with RMB217.3 million in the same quarter of 2024 and RMB70.3 million last quarter. The year-over-year improvement was mainly due to the revenue quality increase, revenue mix adjustment, strict costs control and expenses control. The quarter-over-quarter decrease was mainly due to the seasonality impact.
Non-GAAP EBITDA[5]wasRMB318.5 million(US$43.9million),comparedwithRMB33.2 million in thesamequarterof2024 andRMB359.7 millionlastquarter.Non-GAAP EBITDA margin was16.2%,comparedwith 1.9%inthesamequarter of2024and16.1%intheprevious quarter.Theincreasewasmainlydueto theexpansionof AIbusinesseswithhighermargin.
BasicanddilutednetlosspersharewasRMB0.08(US$0.01),comparedwithRMB0.10inthe same quarterof2024andRMB0.05lastquarter.
Cashandcashequivalentswere RMB2,322.7 million (US$320.1 million) as of March 31, 2025, compared with RMB2,648.8 million as of December 31, 2024. The decrease was mainly due to the investment into operation and the investment into the procurement of computing power equipment.
Outstandingordinaryshareswere3,703,014,637asofMarch31,2025,equivalent toabout246,867,642ADSs.
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[1] This announcement contains translations of certain Renminbi (RMB) amounts into U.S. dollars (US$) at a specified rate solely for the convenience of the reader. Unless otherwise noted, the translation of RMB into US$ has been made at RMB7.2567 to US$1.00, the noon buying rate in effect on March 31, 2025 as certified for customs purposes by the Federal Reserve Bank of New York. |
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[2] Non-GAAP gross profit is defined as gross profit excluding share-based compensation allocated in the cost of revenues and we define Non-GAAP gross margin as Non-GAAP gross profit as a percentage of revenues. See “Use of Non-GAAP Financial Measures” set forth at the end of this press release. |
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[3] Non-GAAP operating (loss) profit is defined as operating loss excluding share-based compensation and amortization of intangible assets and we define Non-GAAP operating (loss) profit margin as Non-GAAP operating (loss) profit as a percentage of revenues. See “Use of Non-GAAP Financial Measures” set forth at the end of this press release. |
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[4] Non-GAAP net loss is defined as net loss excluding share-based compensation and foreign exchange loss (gain), and we define Non-GAAP net loss margin as adjusted net loss as a percentage of revenues. See “Use of Non-GAAPFinancial Measures” set forth at the end of this press release. |
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[5] Non-GAAP EBITDA is defined as Non-GAAP net loss excluding interest income, interest expense, income tax (benefit) expense and depreciation and amortization, and we define Non-GAAP EBITDA margin as Non-GAAP EBITDA as a percentage of revenues. See “Use of Non-GAAP Financial Measures” set forth at the end of this press release. |
ConferenceCallInformation
KingsoftCloud’smanagementwill hostan earningsconferencecallon Wednesday,May 28,2025at8:15am,U.S.Eastern Time(8:15pm,Beijing/HongKongTimeonthesameday).
Participants can register for the conference call by navigating to https://register-conf.media-server.com/register/BI5f4e481f10a54bdc8e351f2645183b41. Once preregistration has been completed, participants will receive dial-in numbers, direct event passcode, and a unique access PIN.
To join the conference, simply dial the number in the calendar invite you receive after preregistering, enter the passcode followed by your PIN, and you will join the conference instantly.
Additionally, a live and archived webcast of the conference call will also be available on the Company’s investor relations website at http://ir.ksyun.com.
Useof Non-GAAPFinancialMeasures
The unaudited condensed consolidated financial information is prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). In evaluating our business, we consider and use certain non-GAAP measures, Non-GAAP gross profit, Non-GAAP gross margin, Non-GAAP operating (loss) profit, Non-GAAP operating (loss) profit margin, Non-GAAP EBITDA, Non-GAAP EBITDA margin, Non-GAAP net loss and Non-GAAP net loss margin, as supplemental measures to review and assess our operating performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. We define Non-GAAP gross profit as gross profit excluding share-based compensation allocated in the cost of revenues, and we define Non-GAAP gross margin as Non-GAAP gross profit as a percentage of revenues. We define Non-GAAP operating (loss) profit as operating loss excluding share-based compensation and amortization of intangible assets and we define Non-GAAP operating (loss) profit margin as Non-GAAP operating (loss) profit as a percentage of revenues. We define Non-GAAP net loss as net loss excluding share-based compensation and foreign exchange loss (gain), and we define Non-GAAP net loss margin as Non-GAAP net loss as a percentage of revenues. We define Non-GAAP EBITDA as Non-GAAP net loss excluding interest income, interest expense, income tax (benefit) expense and depreciation and amortization, and we define Non-GAAP EBITDA margin as Non-GAAP EBITDA as a percentage of revenues. We present these non-GAAP financial measures because they are used by our management to evaluate our operating performance and formulate business plans. We also believe that the use of these non-GAAP measures facilitates investors ‘ assessment of our operating performance.
These non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. These non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using these non-GAAP financial measures is that they do not reflect all items of income and expense that affect our operations. Further, these non-GAAP measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited.
We compensate for these limitations by reconciling these non-GAAP financial measures to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating our performance. We encourage you to review our financial information in its entirety and not rely on a single financial measure.
ExchangeRateInformation
Thispressreleasecontainstranslationsof certainRMBamountsintoU.S. dollarsat specifiedratessolelyfortheconvenience ofreaders.Unlessotherwisenoted,alltranslationsfromRMB to U.S. dollars, in this press release, were made at a rate of RMB7.2567 to US$1.00, the noon buying rate in effect on March 31, 2025 as certified for customs purposes by the Federal Reserve Bank of New York.
SafeHarborStatement
This announcement contains forward-looking statements. These statements are made under the ” safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the Business Outlook, and quotations from management in this announcement, as well as Kingsoft Cloud’s strategic and operational plans, contain forward-looking statements. Kingsoft Cloud may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Kingsoft Cloud’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Kingsoft Cloud’s goals and strategies; Kingsoft Cloud’s future business development, results of operations and financial condition; relevant government policies and regulations relating to Kingsoft Cloud ‘s business and industry; the expected growth of the cloud service market in China; the expectation regarding the rate at which to gain customers, especially Premium Customers; Kingsoft Cloud’s ability to monetize the customer base; fluctuations in general economic and business conditions in China; and the economy in China and elsewhere generally; China’s political or social conditions and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Kingsoft Cloud’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Kingsoft Cloud does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
AboutKingsoftCloudHoldingsLimited
KingsoftCloudHoldingsLimited(NASDAQ: KCandHKEX:3896) is a leading cloud service provider in China. With extensive cloud infrastructure, cutting-edge cloud-native products based on vigorous cloud technology research and development capabilities, well-architectedindustry-specific solutions and end-to-end fulfillment anddeployment,Kingsoft Cloud offers comprehensive, reliable and trusted cloud service to customers in strategically selected verticals.
Formoreinformation,pleasevisit:http://ir.ksyun.com.
For investor and media inquiries, please contact:
Kingsoft CloudHoldingsLimited
NicoleShan
Tel: +86 (10) 6292-7777 Ext. 6300
Email: [emailprotected]
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KINGSOFT CLOUD HOLDINGS LIMITED |
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UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS |
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(All amounts in thousands) |
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|
Dec 31, |
Mar 31, |
Mar 31, |
|
|
RMB |
RMB |
US$ |
|
|
ASSETS |
|||
|
Current assets: |
|||
|
Cash and cash equivalents |
2,648,764 |
2,322,674 |
320,073 |
|
Restricted cash |
81,337 |
63,670 |
8,774 |
|
Accounts receivable, net |
1,468,663 |
1,807,011 |
249,013 |
|
Short-term investments |
90,422 |
60,245 |
8,302 |
|
Prepayments and other assets |
2,233,074 |
2,254,813 |
310,722 |
|
Amounts due from related parties |
318,526 |
629,876 |
86,799 |
|
Total current assets |
6,840,786 |
7,138,289 |
983,683 |
|
Non-current assets: |
|||
|
Property and equipment, net |
4,630,052 |
6,514,205 |
897,681 |
|
Intangible assets, net |
694,880 |
660,926 |
91,078 |
|
Goodwill |
4,605,724 |
4,605,724 |
634,686 |
|
Prepayments and other assets |
449,983 |
444,555 |
61,261 |
|
Equity investments |
234,182 |
232,790 |
32,079 |
|
Operating lease right-of-use assets |
137,047 |
124,585 |
17,168 |
|
Total non-current assets |
10,751,868 |
12,582,785 |
1,733,953 |
|
Total assets |
17,592,654 |
19,721,074 |
2,717,636 |
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LIABILITIES, NON-CONTROLLING |
|||
|
Current liabilities: |
|||
|
Accounts payable |
1,877,004 |
2,040,574 |
281,199 |
|
Accrued expenses and other current liabilities |
3,341,990 |
3,616,908 |
498,423 |
|
Short-term borrowings |
2,225,765 |
2,550,970 |
351,533 |
|
Income tax payable |
69,219 |
75,532 |
10,409 |
|
Amounts due to related parties |
1,584,199 |
1,471,400 |
202,764 |
|
Current operating lease liabilities |
61,258 |
42,459 |
5,851 |
|
Total current liabilities |
9,159,435 |
9,797,843 |
1,350,179 |
|
Non-current liabilities: |
|||
|
Long-term borrowings |
1,660,584 |
1,997,371 |
275,245 |
|
Amounts due to related parties |
309,612 |
494,982 |
68,210 |
|
Deferred tax liabilities |
101,677 |
89,725 |
12,364 |
|
Other liabilities |
790,271 |
1,932,576 |
266,316 |
|
Non-current operating lease liabilities |
65,755 |
63,932 |
8,810 |
|
Total non-current liabilities |
2,927,899 |
4,578,586 |
630,945 |
|
Total liabilities |
12,087,334 |
14,376,429 |
1,981,124 |
|
Shareholders’ equity: |
|||
|
Ordinary shares |
25,689 |
25,689 |
3,540 |
|
Treasury stock |
(105,478) |
(88,114) |
(12,142) |
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Additional paid-in capital |
18,940,885 |
19,071,212 |
2,628,083 |
|
Statutory reserves funds |
32,001 |
32,001 |
4,410 |
|
Accumulated deficit |
(14,291,957) |
(14,605,883) |
(2,012,744) |
|
Accumulated other comprehensive income |
566,900 |
574,660 |
79,190 |
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Total Kingsoft Cloud Holdings Limited |
5,168,040 |
5,009,565 |
690,337 |
|
Non-controlling interests |
337,280 |
335,080 |
46,175 |
|
Total equity |
5,505,320 |
5,344,645 |
736,512 |
|
Total liabilities, non-controlling interests |
17,592,654 |
19,721,074 |
2,717,636 |
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KINGSOFT CLOUD HOLDINGS LIMITED |
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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS |
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(All amounts in thousands, except for share and per share data) |
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Three Months Ended |
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Mar 31, |
Dec 31, |
Mar 31, |
Mar 31, |
|
|
RMB |
RMB |
RMB |
US$ |
|
|
Revenues: |
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|
Public cloud services |
1,187,370 |
1,409,804 |
1,353,479 |
186,514 |
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Enterprise cloud services |
588,162 |
822,338 |
616,498 |
84,956 |
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Others |
152 |
– |
– |
– |
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Total revenues |
1,775,684 |
2,232,142 |
1,969,977 |
271,470 |
|
Cost of revenues |
(1,482,431) |
(1,806,170) |
(1,651,671) |
(227,606) |
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Gross profit |
293,253 |
425,972 |
318,306 |
43,864 |
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Operating expenses: |
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|
Selling and marketing expenses |
(116,752) |
(115,792) |
(144,338) |
(19,890) |
|
General and administrative expenses |
(218,695) |
(179,536) |
(181,999) |
(25,080) |
|
Research and development expenses |
(231,963) |
(174,155) |
(226,170) |
(31,167) |
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Total operating expenses |
(567,410) |
(469,483) |
(552,507) |
(76,137) |
|
Operating loss |
(274,157) |
(43,511) |
(234,201) |
(32,273) |
|
Interest income |
8,370 |
4,176 |
4,946 |
682 |
|
Interest expense |
(51,066) |
(61,821) |
(82,897) |
(11,424) |
|
Foreign exchange (loss) gain |
(42,737) |
(105,572) |
9,051 |
1,247 |
|
Other (loss) gain, net |
(8,207) |
(2,956) |
3,244 |
447 |
|
Other (expense) income, net |
(11,190) |
5,336 |
(7,012) |
(966) |
|
Loss before income taxes |
(378,987) |
(204,348) |
(306,869) |
(42,287) |
|
Income tax benefit (expense) |
15,371 |
3,706 |
(9,241) |
(1,273) |
|
Net loss |
(363,616) |
(200,642) |
(316,110) |
(43,560) |
|
Less: net loss attributable to non- |
(4,206) |
(3,683) |
(2,184) |
(301) |
|
Net loss attributable to Kingsoft |
(359,410) |
(196,959) |
(313,926) |
(43,259) |
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Net loss per share: |
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|
Basic and diluted |
(0.10) |
(0.05) |
(0.08) |
(0.01) |
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Shares used in the net loss per |
||||
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Basic and diluted |
3,614,662,846 |
3,710,632,202 |
3,728,092,123 |
3,728,092,123 |
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Other comprehensive income, net |
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Foreign currency translation |
20,704 |
103,658 |
7,744 |
1,067 |
|
Comprehensive loss |
(342,912) |
(96,984) |
(308,366) |
(42,493) |
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Less: Comprehensive loss |
(4,247) |
(3,667) |
(2,200) |
(303) |
|
Comprehensive loss attributable |
(338,665) |
(93,317) |
(306,166) |
(42,190) |
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KINGSOFT CLOUD HOLDINGS LIMITED |
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RECONCILIATION OF GAAP AND NON-GAAP RESULTS |
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(All amounts in thousands, except for percentage) |
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Three Months Ended |
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Mar 31, |
Dec 31, |
Mar 31, |
Mar 31, |
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|
RMB |
RMB |
RMB |
US$ |
|
|
Gross profit |
293,253 |
425,972 |
318,306 |
43,864 |
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Adjustments: |
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|
– Share-based compensation expenses (allocated in cost of |
5,814 |
1,726 |
9,365 |
1,291 |
|
Adjusted gross profit (Non-GAAP Financial Measure) |
299,067 |
427,698 |
327,671 |
45,155 |
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KINGSOFT CLOUD HOLDINGS LIMITED |
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RECONCILIATION OF GAAP AND NON-GAAP RESULTS |
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(All amounts in thousands, except for percentage) |
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Three Months Ended |
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|
Mar 31, |
Dec 31, |
Mar 31, |
|
|
Gross margin |
16.5% |
19.1% |
16.2% |
|
Adjusted gross margin (Non-GAAP Financial Measure) |
16.8% |
19.2% |
16.6% |
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KINGSOFT CLOUD HOLDINGS LIMITED |
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RECONCILIATION OF GAAP AND NON-GAAP RESULTS |
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|
(All amounts in thousands, except for percentage) |
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Three Months Ended |
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Mar 31, |
Dec 31, |
Mar 31, |
Mar 31, |
|
|
RMB |
RMB |
RMB |
US$ |
|
|
Net Loss |
(363,616) |
(200,642) |
(316,110) |
(43,560) |
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Adjustments: |
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– Share-based compensation expenses |
103,595 |
24,774 |
134,611 |
18,550 |
|
– Foreign exchange loss (gain) |
42,737 |
105,572 |
(9,051) |
(1,247) |
|
Adjusted net loss (Non-GAAP Financial Measure) |
(217,284) |
(70,296) |
(190,550) |
(26,257) |
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Adjustments: |
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– Interest income |
(8,370) |
(4,176) |
(4,946) |
(682) |
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– Interest expense |
51,066 |
61,821 |
82,897 |
11,424 |
|
– Income tax (benefit) expense |
(15,371) |
(3,706) |
9,241 |
1,273 |
|
– Depreciation and amortization |
223,146 |
376,100 |
421,901 |
58,140 |
|
Adjusted EBITDA (Non-GAAP Financial Measure) |
33,187 |
359,743 |
318,543 |
43,898 |
|
– Gain on disposal of property and equipment |
(23,821) |
(10,137) |
(2,110) |
(291) |
|
Excluding gain on disposal of property and equipment, |
9,366 |
349,606 |
316,433 |
43,607 |
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KINGSOFT CLOUD HOLDINGS LIMITED |
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RECONCILIATION OF GAAP AND NON-GAAP RESULTS |
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(All amounts in thousands, except for percentage) |
||||
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Three Months Ended |
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Mar 31, |
Dec 31, |
Mar 31, |
Mar 31, |
|
|
RMB |
RMB |
RMB |
US$ |
|
|
Operating loss |
(274,157) |
(43,511) |
(234,201) |
(32,273) |
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Adjustments: |
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– Share-based compensation expenses |
103,595 |
24,774 |
134,611 |
18,550 |
|
– Amortization of intangible assets |
43,517 |
43,104 |
43,781 |
6,033 |
|
Adjusted operating (loss) profit (Non-GAAP Financial |
(127,045) |
24,367 |
(55,809) |
(7,690) |
|
– Gain on disposal of property and equipment |
(23,821) |
(10,137) |
(2,110) |
(291) |
|
Excluding gain on disposal of property and equipment, |
(150,866) |
14,230 |
(57,919) |
(7,981) |
|
KINGSOFT CLOUD HOLDINGS LIMITED |
|||
|
RECONCILIATION OF GAAP AND NON-GAAP RESULTS |
|||
|
(All amounts in thousands, except for percentage) |
|||
|
Three Months Ended |
|||
|
Mar 31, |
Dec 31, |
Mar 31, |
|
|
Net loss margin |
-20.5% |
-9.0% |
-16.0% |
|
Adjusted net loss margin (Non-GAAP Financial Measure) |
-12.2% |
-3.1% |
-9.7% |
|
Adjusted EBITDA margin (Non-GAAP Financial Measure) |
1.9% |
16.1% |
16.2% |
|
Normalized Adjusted EBITDA margin |
0.5% |
15.7% |
16.1% |
|
Adjusted operating (loss) profit margin (Non-GAAP Financial Measure) |
-7.2% |
1.1% |
-2.8% |
|
Normalized Adjusted operating (loss) profit margin |
-8.5% |
0.6% |
-2.9% |
|
KINGSOFT CLOUD HOLDINGS LIMITED |
||||
|
UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS |
||||
|
(All amounts in thousands) |
||||
|
Three Months Ended |
||||
|
Mar 31, |
Dec 31, |
Mar 31, |
Mar 31, |
|
|
RMB |
RMB |
RMB |
US$ |
|
|
Net cash (used in) generated from operating activities |
(321,336) |
570,222 |
(418,390) |
(57,656) |
|
Net cash used in investing activities |
(1,169,017) |
(1,337,978) |
(490,393) |
(67,578) |
|
Net cash generated from financing activities |
1,112,096 |
1,802,762 |
549,998 |
75,792 |
|
Effect of exchange rate changes on cash, cash equivalents and |
(20,464) |
(15,294) |
15,028 |
2,071 |
|
Net (decrease) increase in cash, cash equivalents and restricted cash |
(398,721) |
1,019,712 |
(343,757) |
(47,371) |
|
Cash, cash equivalents and restricted cash at beginning of period |
2,489,481 |
1,710,389 |
2,730,101 |
376,218 |
|
Cash, cash equivalents and restricted cash at end of period |
2,090,760 |
2,730,101 |
2,386,344 |
328,847 |
SOURCE Kingsoft Cloud Holdings Limited
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