Kingsoft Cloud Holdings Ltd., a prominent cloud service provider in China, reported its unaudited financial results for the first quarter ending March 31, 2025. The company achieved a year-over-year revenue increase of 10.9%, reaching RMB1,970.0 million. However, there was a sequential seasonal decrease in revenue. The adjusted gross profit was RMB327.7 million, marking a 9.6% increase from the previous year, but a 23.4% decline compared to the last quarter. The adjusted gross margin stood at 16.6%, slightly down from 16.8% in the first quarter of 2024 and 19.2% in the fourth quarter of the previous year. Kingsoft Cloud reported a narrowed adjusted operating loss of RMB55.8 million, a significant improvement of 56% from RMB127.0 million in the same period last year. The adjusted EBITDA profit was RMB318.5 million, with an adjusted EBITDA margin of 16.2%. The company's AI business experienced substantial growth, with gross billing increasing by 228% year-over-year to RMB525 million, accounting for 39% of the public cloud services. Kingsoft Cloud remains committed to investing in AI and maintaining sustainable business development. Cash and cash equivalents were reported at RMB2,322.7 million as of March 31, 2025, down from RMB2,648.8 million at the end of 2024, mainly due to investments in operations and computing power equipment.
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