Quarterly ResultMay 27, 2026, 06:21 AM
Kingsoft Cloud Q1 Revenue +37.2% to $392M; AI Business +90%
AI Summary
Kingsoft Cloud reported unaudited first quarter 2026 financial results, with total revenue increasing 37.2% year-over-year to $392.01 million. The company's AI business showed significant growth, with gross billing up 90% year-over-year and accounting for over half of public cloud services revenue. Despite overall supply chain challenges and a decrease in gross margin, adjusted EBITDA margin improved significantly to 27.6%, reflecting strategic investments in AI infrastructure.
Key Highlights
- Total revenues increased 37.2% year-over-year to RMB2,703.7 million ($392.01 million).
- AI business gross billing grew 90% year-over-year, exceeding 50% of public cloud services revenue.
- Revenues from public cloud services rose 47.5% year-over-year to RMB1,996.3 million ($289.4 million).
- Revenues from enterprise cloud services increased 14.7% year-over-year to RMB707.4 million ($102.6 million).
- Adjusted gross profit was RMB351.4 million ($50.9 million), up 7.2% year-over-year.
- Operating loss narrowed 29.1% year-over-year to RMB166.1 million ($24.1 million).
- Non-GAAP EBITDA margin improved to 27.6%, up 11.4 percentage points year-over-year.
- Cash and cash equivalents were RMB4,903.8 million ($710.9 million) as of March 31, 2026.
Price Impact
More from KC