Kingsoft Cloud Holdings Q1 Loss Narrows

(RTTNews) - Kingsoft Cloud Holdings Limited (KC) Wednesday reported first-quarter net loss of RMB316.1 million or $43.6 million, compared with net loss of RMB363.6 million in the same quarter of 2024.

Adjusted net loss was RMB190.6 million or $26.3 million, compared with RMB217.3 million in the same quarter of 2024.

The year-over-year improvement was mainly due to the revenue quality increase, revenue mix adjustment, strict costs control and expenses control.

Net loss per share was RMB0.08 or $0.01, compared with RMB0.10 in the same quarter of 2024.

Revenues for the quarter reached RMB1,970.0 million or $271.5 million, increased by 10.9% year-over-year from RMB1,775.7 million in the same quarter of 2024.

The year-over-year increase was mainly due to the expanded revenue from Xiaomi and Kingsoft Ecosystem and AI related customers and our further penetration into enterprise cloud customers. The quarter-over-quarter decrease was mainly due to the seasonality impact for enterprise cloud.