Kingsoft Cloud Holdings Limited (“Kingsoft Cloud” or the “Company”)
(NASDAQ: KC), a leading independent cloud service provider in
China, today announced its unaudited financial results for the
first quarter ended March 31, 2022.
Mr. Yulin Wang, Chief Executive Officer of Kingsoft Cloud,
commented, “Despite the rising uncertainty in the macro-environment
and recent pandemic resurgence in China, we adhered to our strategy
of pursuing steady and high-quality growth while improving our
business stability and profitability. We are pleased to deliver
another quarter of solid performance, with revenue up 20%
year-over-year and adjusted gross profit increased by 152%
quarter-over-quarter to RMB83.6 million. These results further
testify to the resilience of our business, our execution
capabilities, and the effectiveness of our strategies. During the
quarter we continued to deepen our relationships with premium
customers and have made excellent progress signing new customers.
Specifically, we signed Genki Forest (元气森林), one of the
fastest-growing beverage brand in China, and two new commercial
bank clients. Looking ahead, while uncertainty remains in the
outlook, we will continue to focus on our core cloud services,
create value for our customers, and facilitate the digitalization
of our expanding customer base.”
Mr. Henry He, Chief Financial Officer of Kingsoft Cloud, added,
“We are pleased to see that our gross billings from core cloud
services, including computing, storage and enterprise services,
increased by 61.2% year-over-year. Meanwhile, we have been making
significant progress in our cost control strategy and execution.
The adjusted gross profit of this quarter increased by 152%
quarter-over-quarter to RMB83.6 million. Adjusted gross margin more
than tripled, from 1.2% in the previous quarter to 3.8% this
quarter. Adjusted EBITDA loss margin narrowed from -10.5% in
previous quarter to -7.0% this quarter. We will continue to focus
on the quality growth of our business and improve our margins. Even
though we are still amid the challenging macro-economic
environment, we believe we are on track to achieve adjusted EBITDA
breakeven in Q4 2022.
Our board has authorized the Company to repurchase up to USD$100
million of our ordinary shares in the form of American depositary
shares during a twelve-month period. Today, we are pleased to
announce that we have entered into a share repurchase program. We
believe it demonstrates our board’s and management’s strong
confidence in our growth prospect and their commitment to
generating long-term value for our shareholders.”
First Quarter 2022 Financial
Results
Total Revenues reached
RMB2,173.8 million (US$342.91 million), representing an increase of
19.9% from RMB1,813.5 million in the same period of 2021. The
increase was due to the robust growth in core cloud services, but
partially offset by our proactive adjustment of CDN services. Gross
billings from core cloud services including computing, storage and
enterprise cloud services increased by 61.2% year-over-year, and
content delivery services decreased by 20.2% year-over-year.
- Revenues from public cloud services
remained stable at RMB1,380.8 million (US$217.8 million), compared
with RMB1,391.8 million in the same quarter of 2021. The decrease
was mainly due to the above-mentioned CDN services adjustment, and
offset by the increase of revenues from computing and storage
services.
- Revenues from enterprise cloud services were RMB792.5 million
(US$125.0 million), representing a strong growth of 88.7% from
RMB420.0 million in the same quarter of 2021. The growth was mainly
driven by the strong digitalization demand from enterprises and
institutions, synergies from Camelot as well as our capabilities to
deliver industry-specific cloud solutions.
- Other revenues were RMB0.5 million
(US$0.1 million).
Cost of revenues was RMB2,093.9 million
(US$330.3 million), representing a decrease of 20.4% from
RMB2,631.8 million in last quarter and an increase of 23.4% from
RMB1,697.0 million in the same quarter of 2021. Among which, IDC
costs decreased by RMB211.6 million from last quarter to RMB1,110.3
million this quarter, in line with our adjustment of CDN services.
Depreciation and amortization costs increased by 8.3%
quarter-over-quarter to RMB246.1 million as a result of continued
capex for growth. Solution development and services costs decreased
by 4.3% quarter-over-quarter to RMB476.0 million. It consists of
payments to our solution design, development and services
personnel. Fulfillment costs were RMB184.5 million this quarter and
it represents the costs of purchasing technologies, products and
services from third party to fulfill the demands of our solutions.
Other costs were RMB76.9 million this quarter.
Gross profit was RMB80.0 million (US$12.6
million), compared with RMB27.9 million last quarter and RMB116.5
million in the same period in 2021.
Gross margin was 3.7%, compared with 1.0% last
quarter and 6.4% in the same period in 2021. Non-GAAP gross
profit2 were RMB83.6 million (US$13.2
million), increased by 152.0% from RMB33.2 million last quarter and
compared with RMB122.0 million in the same period in 2021.
Non-GAAP gross margin was 3.8%, compared with 1.2%
last quarter and 6.7% in the same period in 2021. Due to the
effectiveness of our strategy and execution of cost control and
revenue mix optimization, we have achieved significant
profitability improvement at gross profit level compared with last
quarter.
_________________________1 This announcement contains
translations of certain Renminbi (RMB) amounts into U.S. dollars
(US$) at a specified rate solely for the convenience of the reader.
Unless otherwise noted, the translation of RMB into US$ has been
made at RMB6.3393 to US$1.00, the noon buying rate in effect on
March 31, 2022 as certified for customs purposes by the Federal
Reserve Bank of New York.2 Non-GAAP gross profit is defined as
gross profit excluding share-based compensation allocated in the
cost of revenues and we define Non-GAAP gross margin as Non-GAAP
gross profit as a percentage of revenues. See “Use of Non-GAAP
Financial Measures” set forth at the end of this press release.
Total operating expenses were RMB612.8 million
(US$96.7 million), compared with RMB698.6 million last quarter and
RMB468.6 million in the same period in 2021. The
quarter-over-quarter decrease was mainly due to our effective
expense control and organization adjustment in line with our
overall business strategy.
Selling and marketing expenses were RMB144.4
million (US$22.8 million), compared with RMB177.1 million last
quarter and RMB112.8 million in the same period in 2021.
General and administrative expenses were
RMB221.8 million (US$35.0 million), compared with RMB243.3 million
last quarter and RMB91.2 million in the same period in 2021.
Research and development expenses were RMB246.6
million (US$38.9 million), compared with RMB278.2 million last
quarter and RMB264.6 million in the same period in 2021.
Operating loss was RMB532.8 million (US$84.1
million), compared with operating loss of RMB670.7 million last
quarter and RMB352.1 million in the same quarter of 2021.
Net loss was RMB554.8 million (US$87.5
million), compared with net loss of RMB482.2 million last quarter
and RMB382.2 million in the same quarter of 2021. The increase of
net loss was mainly due to the change of foreign exchange and the
valuation adjustment of certain investees.
Non-GAAP net loss was RMB450.9 million (US$71.1
million), compared with net loss of RMB556.2 million last quarter
and RMB218.4 million in the same quarter of 2021.
Non-GAAP EBITDA was RMB-152.2 million (US$-24.0
million), compared with RMB-278.0 million last quarter and RMB-48.6
million in the same quarter of 2021. Non-GAAP EBITDA
margin was -7.0%, compared with -10.5% last quarter and
-2.7% in the same quarter of 2021.
Basic and diluted net loss per share was
RMB0.15 (US$0.02), compared with RMB0.13 last quarter and RMB0.11
in the same quarter of 2021.
Cash and cash equivalents and short-term
investments were RMB5,604.0 million (US$884.0 million) as
of March 31, 2022, compared to RMB6,708.6 million as of December
31, 2021.
Outstanding ordinary shares were 3,653,179,567
as of March 31, 2022, equivalent to about 243,545,304 ADSs.
Business Outlook
For the second quarter of 2022, the Company expects total
revenues to be between RMB2.0 billion and RMB2.2 billion,
representing a year- over-year growth of -8.0% to 1.2%. It is
mainly due to the off-line fulfillment delay of enterprise cloud,
amid the short-term Covid-19 resurgence. We will continue to
embrace opportunities post pandemic. The Company also expects our
adjusted gross margin will be higher in the second quarter than in
first quarter and the adjusted EBITDA margin will breakeven in the
fourth quarter of 2022. This forecast reflects the Company’s
current and preliminary views on the market and operational
conditions, which are subject to change.
Conference Call Information
The Company will hold a conference call on Wednesday, June 8,
2022, at 8:00 A.M. Eastern Time (8:00 P.M. Beijing/Hong Kong Time
on the same day) to discuss the financial results.
Participants can register for the conference call by navigating
to http://apac.directeventreg.com/registration/event/3950119. Once
preregistration has been completed, participants will receive
dial-in numbers, direct event passcode, and a unique registrant
ID.
To join the conference, simply dial the number in the calendar
invite you receive after preregistering, enter the passcode
followed by your registrant ID, and you will join the conference
instantly.
A live and archived webcast of the conference call will also be
available at the Company’s investor relations website at
http://ir.ksyun.com/.
Use of Non-GAAP Financial Measures
The unaudited condensed consolidated financial information is
prepared in conformity with accounting principles generally
accepted in the United States of America (“U.S. GAAP”). In
evaluating our business, we consider and use certain non-GAAP
measures, Non-GAAP gross profit, Non-GAAP gross margin, Non-GAAP
EBITDA, Non-GAAP EBITDA margin, Non-GAAP net loss and Non-GAAP net
loss margin, as supplemental measures to review and assess our
operating performance. The presentation of these non-GAAP financial
measures is not intended to be considered in isolation or as a
substitute for the financial information prepared and presented in
accordance with U.S. GAAP. We define Non-GAAP gross profit as gross
profit excluding share-based compensation allocated in the cost of
revenues, and we define Non-GAAP gross margin as Non-GAAP gross
profit as a percentage of revenues. We define Non-GAAP net loss as
net loss excluding share-based compensation, foreign exchange
(gain) loss, other gain, net and other (income) expense, net, and
we define Non-GAAP net loss margin as adjusted net loss as a
percentage of revenues. We define Non-GAAP EBITDA as Non-GAAP net
loss excluding interest income, interest expense, income tax
expense and depreciation and amortization, and we define Non-GAAP
EBITDA margin as Non-GAAP EBITDA as a percentage of revenues. We
present these non-GAAP financial measures because they are used by
our management to evaluate our operating performance and formulate
business plans. We also believe that the use of these non-GAAP
measures facilitates investors’ assessment of our operating
performance.
These non-GAAP financial measures are not defined under U.S.
GAAP and are not presented in accordance with U.S. GAAP. These
non-GAAP financial measures have limitations as analytical tools.
One of the key limitations of using these non-GAAP financial
measures is that they do not reflect all items of income and
expense that affect our operations. Further, these non-GAAP
measures may differ from the non-GAAP information used by other
companies, including peer companies, and therefore their
comparability may be limited.
We compensate for these limitations by reconciling these
non-GAAP financial measures to the nearest U.S. GAAP performance
measure, all of which should be considered when evaluating our
performance. We encourage you to review our financial information
in its entirety and not rely on a single financial measure.
Exchange Rate
Information
This press release contains translations of certain RMB amounts
into U.S. dollars at specified rates solely for the convenience of
readers. Unless otherwise noted, all translations from RMB to U.S.
dollars, in this press release, were made at a rate of RMB6.3393 to
US$1.00, the noon buying rate in effect on March 31, 2022 as
certified for customs purposes by the Federal Reserve Bank of New
York.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the “safe harbor” provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
“will,” “expects,” “anticipates,” “future,” “intends,” “plans,”
“believes,” “estimates” and similar statements. Among other things,
the Business Outlook, and quotations from management in this
announcement, as well as Kingsoft Cloud’s strategic and operational
plans, contain forward-looking statements. Kingsoft Cloud may also
make written or oral forward-looking statements in its periodic
reports to the U.S. Securities and Exchange Commission (“SEC”), in
its annual report to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to first parties. Statements that are not
historical facts, including but not limited to statements about
Kingsoft Cloud’s beliefs and expectations, are forward-looking
statements. Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following: Kingsoft
Cloud’s goals and strategies; Kingsoft Cloud’s future business
development, results of operations and financial condition;
relevant government policies and regulations relating to Kingsoft
Cloud’s business and industry; the expected growth of the cloud
service market in China; the expectation regarding the rate at
which to gain customers, especially Premium Customers; Kingsoft
Cloud’s ability to monetize the customer base; fluctuations in
general economic and business conditions in China; the impact of
the COVID-19 to Kingsoft Cloud’s business operations and the
economy in China and elsewhere generally; China’s political or
social conditions and assumptions underlying or related to any of
the foregoing. Further information regarding these and other risks
is included in Kingsoft Cloud’s filings with the SEC. All
information provided in this press release and in the attachments
is as of the date of this press release, and Kingsoft Cloud does
not undertake any obligation to update any forward-looking
statement, except as required under applicable law.
About Kingsoft Cloud
Holdings Limited
Kingsoft Cloud Holdings Limited (NASDAQ: KC) is a leading
independent cloud service provider in China. With extensive cloud
infrastructure, cutting- edge cloud-native products based on
vigorous cloud technology research and development capabilities,
well-architected industry-specific solutions and end-to-end
fulfillment and deployment, Kingsoft Cloud offers comprehensive,
reliable and trusted cloud service to customers in strategically
selected verticals.
For more information, please visit: http://ir.ksyun.com.
For investor and media inquiries,
please contact:
Kingsoft Cloud Holdings Limited Nicole ShanTel: +86 (10)
6292-7777 Ext. 6300Email: ksc-ir@kingsoft.com
Christensen In China Mr. Eric YuanPhone:
+86-10-5900-1548Email: eyuan@christensenir.com
In USMs. Linda Bergkamp Phone:
+1-480-6143004Email: lbergkamp@christensenir.com
KINGSOFT
CLOUD HOLDINGS LIMITED |
UNAUDITED
CONDENSED CONSOLIDATED BALANCE SHEETS |
(All amounts
in thousands) |
|
Dec 31,
2021 |
Mar 31,
2022 |
Mar 31,
2022 |
|
RMB |
RMB |
US$ |
ASSETS |
|
|
|
Current assets: |
|
|
|
Cash and
cash equivalents |
4,217,528 |
|
3,219,414 |
|
507,850 |
|
Restricted
cash |
239,093 |
|
163,025 |
|
25,717 |
|
Accounts
receivable, net |
3,570,975 |
|
3,525,311 |
|
556,104 |
|
Short-term
investments |
2,491,056 |
|
2,384,549 |
|
376,153 |
|
Prepayments
and other assets |
1,687,021 |
|
1,669,145 |
|
263,303 |
|
Amounts due
from related parties |
207,143 |
|
311,306 |
|
49,107 |
|
Total current assets |
12,412,816 |
|
11,272,750 |
|
1,778,234 |
|
Non-current assets: |
|
|
|
Property and
equipment, net |
2,364,103 |
|
2,421,162 |
|
381,929 |
|
Intangible
assets, net |
1,169,767 |
|
1,121,818 |
|
176,962 |
|
Prepayments
and other assets |
29,066 |
|
23,817 |
|
3,757 |
|
Equity
investments |
207,166 |
|
211,744 |
|
33,402 |
|
Goodwill |
4,625,115 |
|
4,609,847 |
|
727,185 |
|
Amounts due
from related parties |
5,758 |
|
5,758 |
|
908 |
|
Operating
lease right-of-use assets |
256,451 |
|
265,322 |
|
41,854 |
|
Deferred tax
assets, net |
7,798 |
|
3,637 |
|
574 |
|
Total non-current assets |
8,665,224 |
|
8,663,105 |
|
1,366,571 |
|
Total assets |
21,078,040 |
|
19,935,855 |
|
3,144,805 |
|
LIABILITIES AND SHAREHOLDERS’ EQUITY |
|
|
|
Current liabilities: |
|
|
|
Short-term
bank loans |
1,348,166 |
|
1,491,144 |
|
235,222 |
|
Accounts
payable |
2,938,632 |
|
2,580,718 |
|
407,098 |
|
Accrued
expenses and other current liabilities |
2,223,840 |
|
1,843,193 |
|
290,757 |
|
Income tax
payable |
60,217 |
|
41,482 |
|
6,544 |
|
Amounts due
to related parties |
836,435 |
|
824,737 |
|
130,099 |
|
Current
operating lease liabilities |
108,590 |
|
111,759 |
|
17,630 |
|
Total current liabilities |
7,515,880 |
|
6,893,033 |
|
1,087,350 |
|
Non-current liabilities: |
|
|
|
Deferred tax
liabilities |
205,889 |
|
198,946 |
|
31,383 |
|
Amounts due
to related parties |
472,882 |
|
414,152 |
|
65,331 |
|
Other
liabilities |
1,232,677 |
|
1,239,669 |
|
195,553 |
|
Non-current
operating lease liabilities |
158,289 |
|
173,664 |
|
27,395 |
|
Total non-current liabilities |
2,069,737 |
|
2,026,431 |
|
319,662 |
|
Total liabilities |
9,585,617 |
|
8,919,464 |
|
1,407,012 |
|
Shareholders’ equity: |
|
|
|
Ordinary
shares |
24,782 |
|
24,824 |
|
3,916 |
|
Additional
paid-in capital |
18,245,801 |
|
18,341,302 |
|
2,893,269 |
|
Accumulated
deficit |
(7,458,752 |
) |
(8,012,001 |
) |
(1,263,862 |
) |
Accumulated
other comprehensive loss |
(207,882 |
) |
(219,621 |
) |
(34,644 |
) |
Total Kingsoft Cloud Holdings Limited shareholders’
equity |
10,603,949 |
|
10,134,504 |
|
1,598,679 |
|
Noncontrolling interests |
888,474 |
|
881,887 |
|
139,114 |
|
Total equity |
11,492,423 |
|
11,016,391 |
|
1,737,793 |
|
Total liabilities and shareholders’ equity |
21,078,040 |
|
19,935,855 |
|
3,144,805 |
|
|
|
|
|
KINGSOFT
CLOUD HOLDINGS LIMITED |
UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE
LOSS |
(All amounts
in thousands, except for share and per share data) |
|
Three Months Ended |
|
Mar 31, 2021 |
Dec 31, 2021 |
Mar 31, 2022 |
Mar 31, 2022 |
|
RMB |
RMB |
RMB |
US$ |
Revenues: |
|
|
|
|
Public cloud
services |
1,391,833 |
|
1,530,476 |
|
1,380,807 |
|
217,817 |
|
Enterprise
cloud services |
420,032 |
|
1,128,775 |
|
792,509 |
|
125,015 |
|
Others |
1,667 |
|
479 |
|
493 |
|
78 |
|
Total revenues |
1,813,532 |
|
2,659,730 |
|
2,173,809 |
|
342,910 |
|
Cost of
revenues |
(1,697,029 |
) |
(2,631,839 |
) |
(2,093,851 |
) |
(330,297 |
) |
Gross profit |
116,503 |
|
27,891 |
|
79,958 |
|
12,613 |
|
Operating
expenses: |
|
|
|
|
Selling and
marketing expenses |
(112,826 |
) |
(177,081 |
) |
(144,405 |
) |
(22,779 |
) |
General and
administrative expenses |
(91,177 |
) |
(243,315 |
) |
(221,763 |
) |
(34,982 |
) |
Research and
development expenses |
(264,636 |
) |
(278,202 |
) |
(246,633 |
) |
(38,905 |
) |
Total operating expenses |
(468,639 |
) |
(698,598 |
) |
(612,801 |
) |
(96,666 |
) |
Operating loss |
(352,136 |
) |
(670,707 |
) |
(532,843 |
) |
(84,053 |
) |
Interest
income |
17,746 |
|
20,601 |
|
21,157 |
|
3,337 |
|
Interest
expense |
(3,866 |
) |
(27,208 |
) |
(34,066 |
) |
(5,374 |
) |
Foreign
exchange (loss) gain |
(48,375 |
) |
47,363 |
|
(18,741 |
) |
(2,956 |
) |
Other gain,
net |
5,782 |
|
62,467 |
|
(12,035 |
) |
(1,898 |
) |
Other
income, net |
1,926 |
|
89,253 |
|
20,038 |
|
3,161 |
|
Loss
before income taxes |
(378,923 |
) |
(478,231 |
) |
(556,490 |
) |
(87,783 |
) |
Income tax
expense |
(3,286 |
) |
(3,982 |
) |
1,670 |
|
263 |
|
Net
loss |
(382,209 |
) |
(482,213 |
) |
(554,820 |
) |
(87,520 |
) |
Less: net
income (loss) attributable to noncontrolling interests |
255 |
|
(4,287 |
) |
(1,571 |
) |
(248 |
) |
Net
loss attributable to Kingsoft Cloud Holdings Limited |
(382,464 |
) |
(477,926 |
) |
(553,249 |
) |
(87,272 |
) |
|
|
|
|
|
Net
loss per share: |
|
|
|
|
Basic and
diluted |
(0.11 |
) |
(0.13 |
) |
(0.15 |
) |
(0.02 |
) |
Shares used in the net loss per share
computation: |
|
|
|
|
Basic and
diluted |
3,343,336,997 |
|
3,630,916,768 |
|
3,648,282,282 |
|
3,648,282,282 |
|
Other comprehensive income (loss), net of tax of
nil: |
|
|
|
|
Foreign
currency translation adjustments |
70,773 |
|
(119,133 |
) |
(9,764 |
) |
(1,540 |
) |
Comprehensive loss |
(311,436 |
) |
(601,346 |
) |
(564,584 |
) |
(89,060 |
) |
Less:
Comprehensive income (loss) attributable to noncontrolling
interests |
255 |
|
(4,420 |
) |
408 |
|
64 |
|
Comprehensive loss attributable to Kingsoft Cloud Holdings
Limited shareholders |
(311,691 |
) |
(596,926 |
) |
(564,992 |
) |
(89,124 |
) |
|
|
|
|
|
KINGSOFT
CLOUD HOLDINGS LIMITED |
|
RECONCILIATION OF GAAP AND NON-GAAP RESULTS |
|
(All amounts
in thousands, except for percentage) |
|
|
Three Months Ended |
|
|
Mar 31, 2021 |
Dec 31, 2021 |
Mar 31, 2022 |
Mar 31, 2022 |
|
|
RMB |
RMB |
RMB |
US$ |
|
Gross profit |
116,503 |
27,891 |
79,958 |
12,613 |
|
Adjustments: |
|
|
|
|
|
–
Share-based compensation expenses |
5,499 |
5,280 |
3,619 |
571 |
|
Adjusted
gross profit |
122,002 |
33,171 |
83,577 |
13,184 |
|
|
|
|
|
|
|
KINGSOFT
CLOUD HOLDINGS LIMITED |
RECONCILIATION OF GAAP AND NON-GAAP RESULTS |
(All amounts
in thousands, except for percentage) |
|
Three Months Ended |
|
Mar 31, 2021 |
Dec 31, 2021 |
Mar 31, 2022 |
Gross margin |
6.4 |
% |
1.0 |
% |
3.7 |
% |
Adjusted gross margin |
6.7 |
% |
1.2 |
% |
3.8 |
% |
KINGSOFT
CLOUD HOLDINGS LIMITED |
|
RECONCILIATION OF GAAP AND NON-GAAP RESULTS |
|
(All amounts
in thousands, except for percentage) |
|
|
Three Months Ended |
|
|
Mar 31, 2021 |
Dec 31, 2021 |
Mar 31, 2022 |
Mar 31, 2022 |
|
|
RMB |
RMB |
RMB |
US$ |
|
Net
Loss |
(382,209 |
) |
(482,213 |
) |
(554,820 |
) |
(87,520 |
) |
|
Adjustments: |
|
|
|
|
|
–
Share-based compensation expenses |
123,113 |
|
125,139 |
|
93,182 |
|
14,699 |
|
|
– Foreign
exchange loss (gain) |
48,375 |
|
(47,363 |
) |
18,741 |
|
2,956 |
|
|
– Other
gain, net |
(5,782 |
) |
(62,467 |
) |
12,035 |
|
1,898 |
|
|
– Other
expense (income), net |
(1,926 |
) |
(89,253 |
) |
(20,038 |
) |
(3,161 |
) |
|
Adjusted net
loss |
(218,429 |
) |
(556,157 |
) |
(450,900 |
) |
(71,128 |
) |
|
Adjustments: |
|
|
|
|
|
– Interest
income |
(17,746 |
) |
(20,601 |
) |
(21,157 |
) |
(3,337 |
) |
|
– Interest
expense |
3,866 |
|
27,208 |
|
34,066 |
|
5,374 |
|
|
– Income tax
expense |
3,286 |
|
3,982 |
|
(1,670 |
) |
(263 |
) |
|
–
Depreciation and amortization |
180,466 |
|
267,565 |
|
287,481 |
|
45,349 |
|
|
Adjusted
EBITDA |
(48,557 |
) |
(278,003 |
) |
(152,180 |
) |
(24,005 |
) |
|
|
|
|
|
|
|
KINGSOFT
CLOUD HOLDINGS LIMITED |
|
RECONCILIATION OF GAAP AND NON-GAAP RESULTS |
|
(All amounts
in thousands, except for percentage) |
|
|
Three Months Ended |
|
|
Mar 31, 2021 |
Dec 31, 2021 |
Mar 31, 2022 |
|
Net loss margin |
-21.1 |
% |
-18.1 |
% |
-25.5 |
% |
|
Adjusted net loss margin |
-12.0 |
% |
-20.9 |
% |
-20.7 |
% |
|
Adjusted EBITDA Margin |
-2.7 |
% |
-10.5 |
% |
-7.0 |
% |
|
|
|
|
|
|
KINGSOFT
CLOUD HOLDINGS LIMITED |
|
UNAUDITED
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS |
|
(All amounts
in thousands) |
|
|
Three Months Ended |
|
Mar 31, 2021 |
Dec 31, 2021 |
Mar 31, 2022 |
Mar 31, 2022 |
|
RMB |
RMB |
RMB |
US$ |
Net cash (used in) generated from operating
activities |
(497,151 |
) |
38,006 |
|
(626,008 |
) |
(98,750 |
) |
Net cash used in investing activities |
(238,180 |
) |
(226,519 |
) |
(524,766 |
) |
(82,780 |
) |
Net cash generated from financing activities |
98,854 |
|
1,085,021 |
|
97,609 |
|
15,397 |
|
Effect of exchange rate changes on cash, cash equivalents and
restricted cash |
5,251 |
|
(34,654 |
) |
(21,017 |
) |
(3,315 |
) |
Net (decrease) increase in cash, cash equivalents and restricted
cash |
(636,477 |
) |
896,508 |
|
(1,053,165 |
) |
(166,133 |
) |
Cash, cash equivalents and restricted cash at beginning of
period |
3,424,674 |
|
3,594,767 |
|
4,456,621 |
|
703,015 |
|
Cash, cash equivalents and restricted cash at end of
period |
2,793,448 |
|
4,456,621 |
|
3,382,439 |
|
533,567 |
|
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