Kingsoft Cloud reported third-quarter 2025 revenue of RMB2,478.0 million, up 31.4%, and a net loss of RMB7.8 million

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

Kingsoft Cloud Holdings Limited, which calls itself a leading cloud service provider in China, reported revenue of RMB2,478.0 million (renminbi, China’s currency, as in all figures here) for the third quarter ended Sep 30, 2025, up 31.4% from RMB1,885.6 million a year earlier and up 5.5% from RMB2,349.2 million in the second quarter. It gave the results in a press release filed with the SEC on Nov 19, 2025 as part of a Form 6-K, the report foreign companies listed in the US use for news outside their annual reports. The company said the increase was mainly due to expanded revenue from AI-related customers.1^,2^,3^,4

Public cloud services brought in RMB1,752.3 million, up 49.1% from RMB1,175.5 million a year earlier, while enterprise cloud services brought in RMB725.7 million, against RMB710.0 million a year earlier. The company also cited AI gross billing of RMB782.4 million, around 120% above a year earlier according to its chief financial officer, Yi Li.5^,6^,7

Operating loss was RMB145.3 million, against RMB1,143.8 million a year earlier; the company linked the change to a reversal of credit losses and no additional impairment of long-lived assets in the quarter. Net loss was RMB7.8 million, against RMB1,061.1 million a year earlier and RMB456.9 million in the previous quarter, which the company put mainly down to the smaller operating loss and an increase in non-recurring subsidy in other income. Of that loss, RMB4.6 million was attributable to the company’s shareholders and RMB3.2 million to non-controlling interests. On its own non-GAAP basis, which excludes share-based compensation, foreign exchange gains and losses and impairment of long-lived assets, the company reported a profit of RMB28.7 million, against a loss of RMB236.7 million a year earlier. Non-GAAP EBITDA, which also excludes interest, income tax, and depreciation and amortization, was RMB826.6 million, up 345.9% from RMB185.4 million a year earlier. Yi Li said the margin on that measure was 33.4%, up 23.6 percentage points from a year earlier, and put the change mainly down to better cost and expense control and to non-recurring other income realized in the quarter.8^,9^,10^,11^,12^,13^,14^,15

Gross margin was 15.4%, against 16.1% a year earlier, which the company attributed mainly to higher server costs as its AI business expanded. Cash and cash equivalents were RMB3,954.5 million on Sep 30, 2025, against RMB5,464.1 million on Jun 30, 2025, a fall the company put mainly down to capital expenditure on computing power equipment and repayment of debt.16^,17

Chief executive Tao Zou said revenue from the Xiaomi-Kingsoft ecosystem rose 83.8% year on year to RMB690.8 million. The filing also included the charter of the board’s nomination committee, amended on Nov 19, 2025.18^,19