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Kingsoft Cloud Holdings (KC) investor relations material
Kingsoft Cloud Holdings Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved accelerated revenue growth and enhanced profitability in Q3 2025, with adjusted operating and net profit turning positive, driven by AI and Intelligent Computing Cloud services.
Strategic investments in AI infrastructure, technology upgrades, and ecosystem partnerships, especially with Xiaomi and Kingsoft, significantly contributed to revenue expansion.
AI and cloud convergence fueled rapid expansion in intelligent computing and enterprise cloud integration.
Financial highlights
Q3 2025 revenue reached RMB 2.48 billion, up 31.4% year-over-year, with public cloud revenue up 49.1% to RMB 1.75 billion.
Intelligent Computing Cloud gross billings grew 122% year-over-year to RMB 782 million, accounting for 45% of public cloud revenue.
Adjusted gross profit was RMB 393 million, up 28% year-over-year; adjusted operating profit turned positive at RMB 15.36 million.
Adjusted net profit reached RMB 28.73 million, a turnaround from a RMB 236.7 million loss last year.
Adjusted EBITDA margin improved to 33.4%, aided by non-recurring other income.
Cash and cash equivalents stood at RMB 3,954.5 million as of September 30, 2025.
Outlook and guidance
Confident in continued AI-driven demand growth, especially in robotics and API services for internet companies.
Expect future margin improvement as inference demand grows, which typically carries higher margins than training.
EBITDA margin projected to remain above 20% for the year, with normalization expected after one-time income effects.
Budget process for next year underway; detailed guidance to be provided after finalization.
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