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Kingsoft Cloud Q1'25 Earnings Highlights:

$KC (+7.11%)


๐Ÿ”น Adj. EPS: (RMB 0.08) (Est. RMB -0.62) ๐ŸŸข

๐Ÿ”น Revenue: RMB 1.97B (Est. RMB 2B) ๐Ÿ˜; +10.9% YoY,

๐Ÿ”น Non-GAAP Gross Margin: 16.6%


Segment Performance:

๐Ÿ”ธ AI Gross Billing: RMB 525M; +228% YoY, now 39% of Public Cloud

๐Ÿ”น Public Cloud Revenue: RMB 1.35B; +14.0% YoY, -4.0% QoQ

๐Ÿ”น Enterprise Cloud Revenue: RMB 616.5M; +4.8% YoY, -25.0% QoQ


Profitability & Expenses:

๐Ÿ”น Cost of Revenue: RMB 1.65B; +11.4% YoY

โ€ƒโ€ƒโ€ข IDC Cost: RMB 722.8M; -6.0% YoY

โ€ƒโ€ƒโ€ข Depreciation/Amortization: RMB 378.5M; Up significantly YoY

๐Ÿ”น Total OpEx: RMB 552.5M; -2.6% YoY, +17.7% QoQ

โ€ƒโ€ƒโ€ข S&M: RMB 144.3M (+23.6% YoY)

โ€ƒโ€ƒโ€ข G&A: RMB 182.0M (-16.8% YoY)

โ€ƒโ€ƒโ€ข R&D: RMB 226.2M (-2.5% YoY)


Balance Sheet & Cash:

๐Ÿ”น Cash & Equivalents: RMB 2.32B (vs. RMB 2.65B as of Dec 2024)

๐Ÿ”น Outstanding Shares: 3.7B (โ‰ˆ246.9M ADSs)


๐Ÿ”ธ CEO Tao Zou: "Gross billing in AI jumped 228% YoY. AI is becoming core to cloud infrastructure and we are fully committed to sustainable business development."


๐Ÿ”ธ CFO Henry He: โ€œWe posted solid year-over-year growth, but saw seasonal softness QoQ. Leasing helps reduce upfront cash needs but weighs on GPM near term.โ€

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