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Yahoo
29-05-2025
- Business
- Yahoo
Jefferies Trims Kingsoft Cloud (KC) Price Target, Keeps Buy Rating
Jefferies analyst Thomas Chong lowered the price target for Kingsoft Cloud Holdings Ltd (NASDAQ:KC) to $16 from $18 on May 28 and maintained a Buy rating. The adjustment came only hours after the company's Q1 2025 results were released. A computer engineer seated in front of several connected consoles, illustrating the depth of cloud services offered by the company. Kingsoft Cloud's quarterly revenue reached RMB1,970.0 million ($271.5 million), a 10.9% increase year-over-year but an 11.7% decrease quarter-over-quarter. Management attributed the sequential decline to seasonal factors and timing issues related to product deliveries in the enterprise cloud segment. But, despite the challenges, Tao Zou, the company's CEO, is confident that the future of their cloud business is robust. He stated that 'the importance for cloud services as infrastructure in the AI-era is gaining greater traction.' As such, the company is 'fully committed into our AI related investment and high-quality and sustainable business development.' Chong also touched on this aspect in his research note. He emphasized the strong demand for Kingsoft Cloud's AI services despite trimming the price target. Notably, the company's gross billing of AI business increased by 228% year-over-year to RMB525 million ($72.975 million). He also noted that the Kingsoft Cloud's new approach to leasing could potentially reduce gross profit margins but would also decrease reliance on cash reserves. With the current price target set at $16, Jefferies' valuation reflects Kingsoft Cloud's financial standing and evolving market conditions. Kingsoft Cloud Holdings Limited (NASDAQ:KC) is a leading cloud service provider in China. The company offers products like infrastructure-as-a-service (IaaS), platform-as-a-service (PaaS), and enterprise cloud services. These products incorporate advanced technologies such as AI, big data, IoT, and edge computing. While we acknowledge the potential of Kingsoft Cloud Holdings Ltd (NASDAQ:KC) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than KC and that has 100x upside potential, check out our report about the cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
28-05-2025
- Business
- Yahoo
Kingsoft Cloud Announces Unaudited First Quarter 2025 Financial Results
BEIJING, May 28, 2025 /PRNewswire/ -- Kingsoft Cloud Holdings Limited ("Kingsoft Cloud" or the "Company") (NASDAQ: KC and HKEX: 3896), a leading cloud service provider in China, today announced its unaudited financial results for the first quarter ended March 31,2025. Mr. Tao Zou, Chief Executive Officer of Kingsoft Cloud, commented, "Despite uncertainties in global supply chain, we believe the importance for cloud services as infrastructure in the AI-era is gaining greater traction. This quarter, our gross billing of AI business increased by 228% year- over-year to RMB525 million, accounting for 39% of our public cloud services. We are confident and fully committed into our AI related investment and high-quality and sustainable business development." Mr. Henry He, Chief Financial Officer of Kingsoft Cloud, added, "Our revenue increased by 10.9% year-over-year, achieving RMB1,970.0 million for the first quarter; however sequentially we experienced seasonal decrease. Our adjusted gross profit was RMB327.7 million, increased by 9.6% year-over-year and decreased by 23.4% quarter-over-quarter. Adjusted gross margin was 16.6% in this quarter, compared with 16.8% in the first quarter 2024 and 19.2% in the fourth quarter last year. Our adjusted operating loss was RMB55.8 million, narrowed by 56% from RMB127.0 million in the same period last year. Our adjusted EBITDA profit achieved RMB318.5 million, representing an adjusted EBITDA margin of 16.2%" First Quarter 2025 Financial Results Total Revenues reached RMB1,970.0 million (US$271.5[1] million), increased by 10.9% year-over-year from RMB1,775.7 million in the same quarter of 2024 and decreased by 11.7% quarter-over-quarter from RMB2,232.1million in the fourth quarter of 2024. The year-over-year increase was mainly due to the expanded revenue from Xiaomi and Kingsoft Ecosystem and AI related customers and our further penetration into enterprise cloud customers. The quarter-over-quarter decrease was mainly due to the seasonality impact for enterprise cloud. Revenues from public cloud services were RMB1,353.5 million (US$186.5 million), increased by 14.0% from RMB1,187.4 million in the same quarter of 2024 and decreased by 4.0% from RMB1,409.8 million last quarter. The year-over-year increase was mainly due to the growth of AI demands. Revenues from enterprise cloud services were RMB616.5 million (US$85.0 million), representing an increase of 4.8% from RMB588.2 million in the same quarter of 2024 and a decrease of 25.0% from RMB822.3 million last quarter. The sequential decrease was mainly due to the Chinese New Year impact and differentiated delivery schedules for various projects. Other revenues were nil this quarter. Cost of revenues was RMB1,651.7 million (US$227.6 million), representing an increase of 11.4% from RMB1,482.4 million in the same quarter of 2024, which was mainly due to our investment into AI computing resources. IDC costs decreased by 6.0% year-over-year from RMB768.5 million to RMB722.8 million (US$99.6 million) this quarter. The decrease was mainly due to our strict control over procurement costs. Depreciation and amortization costs increased from RMB183.5 million in the same quarter of 2024 to RMB378.5 million (US$52.2 million) this quarter. The increase was mainly due to the depreciation of newly acquired servers which were allocated to AI business. Solution development and services costs increased by 13.3% year-over-year from RMB446.0 million in the same quarter of 2024 to RMB505.2 million (US$69.6 million) this quarter. The increase was mainly due to the solution personnel expansion of Camelot. Fulfillment costs and other costs were RMB3.1 million (US$0.4 million) and RMB42.1 million (US$5.8 million) this quarter. Gross profit was RMB318.3 million (US$43.9 million), representing an increase of 8.5% from RMB293.3 million in the same quarter of 2024, demonstrating our improvements in revenue quality and structure. Gross margin was 16.2%, remaining stable compared with 16.5% in the same period in 2024. Non-GAAP gross profit[2] was RMB327.7 million (US$45.2 million), compared with RMB299.1 million in the same period in 2024. Non-GAAP gross margin[2] was 16.6%, compared with 16.8% in the same period in 2024. The improvement of our gross profit was mainly due to the decrease of procurement costs. The sequential decrease of gross margin was mainly due to the growing investment into AI and the delay of high-margin profile enterprise cloud projects in first quarter. Total operating expenses were RMB552.5 million (US$76.1 million), decreased by 2.6% from RMB567.4 million in the same quarter last year and increased by 17.7% from RMB469.5 million last quarter. Among which: Selling and marketing expenses were RMB144.3 million (US$19.9 million), increased by 23.6% from RMB116.8 million in the same period in 2024 and increased by 24.7% from RMB115.8 million last quarter. The increase was due to the increase of one-time-off bonus of share based compensation. General and administrative expenses were RMB182.0million (US$25.1million), decreased by 16.8% from RMB218.7 million in the same period in 2024 and slightly increased by 1.4% from RMB179.5 million last quarter. The year-over-year decrease was mainly due to the decrease of credit loss expense, which was partially offset by the increase of share based compensation. Research and development expenses were RMB226.2 million (US$31.2 million), decreased by 2.5% from RMB232.0 million in the same period in 2024 and increased by 29.9% from RMB174.2 million last quarter. The increase was mainly due to our continuous investment into research and development personnel to enhance our technology competitiveness and increase of share based compensation. Operating loss was RMB234.2 million (US$32.3 million), compared with operating loss of RMB274.2 million in the same quarter of 2024 and RMB43.5 million last quarter. The year-over-year improvement was mainly due to the increase of gross profit and our strict expenses control, while the sequential increase was mainly due to the impact of gross profit and increase of shared based compensation. Non-GAAP operating loss[3] was RMB55.8 million (US$7.7 million), compared with operating loss of RMB127.0 million in the same quarter last year and operating profit of RMB24.4 million last quarter. Net loss was RMB316.1 million (US$43.6 million), compared with net loss of RMB363.6 million in the same quarter of 2024 and RMB200.6 million last quarter. Non-GAAP net loss[4] was RMB190.6 million (US$26.3 million), compared with RMB217.3 million in the same quarter of 2024 and RMB70.3 million last quarter. The year-over-year improvement was mainly due to the revenue quality increase, revenue mix adjustment, strict costs control and expenses control. The quarter-over-quarter decrease was mainly due to the seasonality impact. Non-GAAP EBITDA[5] was RMB318.5 million (US$43.9 million), compared with RMB33.2 million in the same quarter of 2024 and RMB359.7 million last quarter. Non-GAAP EBITDA margin was 16.2%, compared with 1.9% in the same quarter of 2024 and 16.1% in the previous quarter. The increase was mainly due to the expansion of AI businesses with higher margin. Basic and diluted net loss per share was RMB0.08 (US$0.01), compared with RMB0.10 in the same quarter of 2024 and RMB0.05 last quarter. Cash and cash equivalents were RMB2,322.7 million (US$320.1 million) as of March 31, 2025, compared with RMB2,648.8 million as of December 31, 2024. The decrease was mainly due to the investment into operation and the investment into the procurement of computing power equipment. Outstanding ordinary shares were 3,703,014,637 as of March 31, 2025, equivalent to about 246,867,642 ADSs. [1] This announcement contains translations of certain Renminbi (RMB) amounts into U.S. dollars (US$) at a specified rate solely for the convenience of the reader. Unless otherwise noted, the translation of RMB into US$ has been made at RMB7.2567 to US$1.00, the noon buying rate in effect on March 31, 2025 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. [3] Non-GAAP operating (loss) profit is defined as operating loss excluding share-based compensation and amortization of intangible assets and we define Non-GAAP operating (loss) profit margin as Non-GAAP operating (loss) profit as a percentage of revenues. See "Use of Non-GAAP Financial Measures" set forth at the end of this press release. [4] Non-GAAP net loss is defined as net loss excluding share-based compensation and foreign exchange loss (gain), and we define Non-GAAP net loss margin as adjusted net loss as a percentage of revenues. See "Use of Non-GAAP Financial Measures" set forth at the end of this press release. [5] Non-GAAP EBITDA is defined as Non-GAAP net loss excluding interest income, interest expense, income tax (benefit) expense and depreciation and amortization, and we define Non-GAAP EBITDA margin as Non-GAAP EBITDA as a percentage of revenues. See "Use of Non-GAAP Financial Measures" set forth at the end of this press release. Conference Call Information Kingsoft Cloud's management will host an earnings conference call on Wednesday, May 28, 2025 at 8:15 am, U.S. Eastern Time (8:15 pm, Beijing/Hong Kong Time on the same day). Participants can register for the conference call by navigating to Once preregistration has been completed, participants will receive dial-in numbers, direct event passcode, and a unique access PIN. To join the conference, simply dial the number in the calendar invite you receive after preregistering, enter the passcode followed by your PIN, and you will join the conference instantly. Additionally, a live and archived webcast of the conference call will also be available on the Company's investor relations website at 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 operating (loss) profit, Non-GAAP operating (loss) profit 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 operating (loss) profit as operating loss excluding share-based compensation and amortization of intangible assets and we define Non-GAAP operating (loss) profit margin as Non-GAAP operating (loss) profit as a percentage of revenues. We define Non-GAAP net loss as net loss excluding share-based compensation and foreign exchange loss (gain), and we define Non-GAAP net loss margin as Non-GAAP net loss as a percentage of revenues. We define Non-GAAP EBITDA as Non-GAAP net loss excluding interest income, interest expense, income tax (benefit) 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 RMB7.2567 to US$1.00, the noon buying rate in effect on March 31, 2025 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 third 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; 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 and HKEX:3896) is a leading 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: For investor and media inquiries, please contact: Kingsoft Cloud Holdings Limited Nicole ShanTel: +86 (10) 6292-7777 Ext. 6300Email: ksc-ir@ KINGSOFT CLOUD HOLDINGS LIMITED UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (All amounts in thousands)Dec 31,2024 Mar 31,2025 Mar 31,2025RMB RMB US$ ASSETSCurrent assets:Cash and cash equivalents 2,648,764 2,322,674 320,073 Restricted cash 81,337 63,670 8,774 Accounts receivable, net 1,468,663 1,807,011 249,013 Short-term investments 90,422 60,245 8,302 Prepayments and other assets 2,233,074 2,254,813 310,722 Amounts due from related parties 318,526 629,876 86,799 Total current assets 6,840,786 7,138,289 983,683 Non-current assets:Property and equipment, net 4,630,052 6,514,205 897,681 Intangible assets, net 694,880 660,926 91,078 Goodwill 4,605,724 4,605,724 634,686 Prepayments and other assets 449,983 444,555 61,261 Equity investments 234,182 232,790 32,079 Operating lease right-of-use assets 137,047 124,585 17,168 Total non-current assets 10,751,868 12,582,785 1,733,953 Total assets 17,592,654 19,721,074 2,717,636 LIABILITIES, NON-CONTROLLING INTERESTS AND SHAREHOLDERS' EQUITYCurrent liabilities:Accounts payable 1,877,004 2,040,574 281,199 Accrued expenses and other current liabilities 3,341,990 3,616,908 498,423 Short-term borrowings 2,225,765 2,550,970 351,533 Income tax payable 69,219 75,532 10,409 Amounts due to related parties 1,584,199 1,471,400 202,764 Current operating lease liabilities 61,258 42,459 5,851 Total current liabilities 9,159,435 9,797,843 1,350,179 Non-current liabilities:Long-term borrowings 1,660,584 1,997,371 275,245 Amounts due to related parties 309,612 494,982 68,210 Deferred tax liabilities 101,677 89,725 12,364 Other liabilities 790,271 1,932,576 266,316 Non-current operating lease liabilities 65,755 63,932 8,810 Total non-current liabilities 2,927,899 4,578,586 630,945 Total liabilities 12,087,334 14,376,429 1,981,124 Shareholders' equity:Ordinary shares 25,689 25,689 3,540 Treasury stock (105,478) (88,114) (12,142) Additional paid-in capital 18,940,885 19,071,212 2,628,083 Statutory reserves funds 32,001 32,001 4,410 Accumulated deficit (14,291,957) (14,605,883) (2,012,744) Accumulated other comprehensive income 566,900 574,660 79,190 Total Kingsoft Cloud Holdings Limited shareholders' equity 5,168,040 5,009,565 690,337 Non-controlling interests 337,280 335,080 46,175 Total equity 5,505,320 5,344,645 736,512 Total liabilities, non-controlling interests and shareholders' equity 17,592,654 19,721,074 2,717,636 KINGSOFT CLOUD HOLDINGS LIMITED UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (All amounts in thousands, except for share and per share data)Three Months EndedMar 31,2024 Dec 31,2024 Mar 31,2025 Mar 31,2025RMB RMB RMB US$ Revenues: Public cloud services 1,187,370 1,409,804 1,353,479 186,514 Enterprise cloud services 588,162 822,338 616,498 84,956 Others 152 - - - Total revenues 1,775,684 2,232,142 1,969,977 271,470 Cost of revenues (1,482,431) (1,806,170) (1,651,671) (227,606) Gross profit 293,253 425,972 318,306 43,864 Operating expenses: Selling and marketing expenses (116,752) (115,792) (144,338) (19,890) General and administrative expenses (218,695) (179,536) (181,999) (25,080) Research and development expenses (231,963) (174,155) (226,170) (31,167) Total operating expenses (567,410) (469,483) (552,507) (76,137) Operating loss (274,157) (43,511) (234,201) (32,273) Interest income 8,370 4,176 4,946 682 Interest expense (51,066) (61,821) (82,897) (11,424) Foreign exchange (loss) gain (42,737) (105,572) 9,051 1,247 Other (loss) gain, net (8,207) (2,956) 3,244 447 Other (expense) income, net (11,190) 5,336 (7,012) (966) Loss before income taxes (378,987) (204,348) (306,869) (42,287) Income tax benefit (expense) 15,371 3,706 (9,241) (1,273) Net loss (363,616) (200,642) (316,110) (43,560) Less: net loss attributable to non-controlling interests (4,206) (3,683) (2,184) (301) Net loss attributable to Kingsoft Cloud Holdings Limited (359,410) (196,959) (313,926) (43,259)Net loss per share: Basic and diluted (0.10) (0.05) (0.08) (0.01) Shares used in the net loss per share computation: Basic and diluted 3,614,662,846 3,710,632,202 3,728,092,123 3,728,092,123 Other comprehensive income, net of tax of nil: Foreign currency translation adjustments 20,704 103,658 7,744 1,067 Comprehensive loss (342,912) (96,984) (308,366) (42,493) Less: Comprehensive loss attributable to non-controlling interests (4,247) (3,667) (2,200) (303) Comprehensive loss attributable to Kingsoft Cloud Holdings Limited shareholders (338,665) (93,317) (306,166) (42,190) KINGSOFT CLOUD HOLDINGS LIMITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS (All amounts in thousands, except for percentage)Three Months EndedMar 31,2024 Dec 31,2024 Mar 31,2025 Mar 31,2025RMB RMB RMB US$ Gross profit 293,253 425,972 318,306 43,864 Adjustments: – Share-based compensation expenses (allocated in cost of revenues) 5,814 1,726 9,365 1,291 Adjusted gross profit (Non-GAAP Financial Measure) 299,067 427,698 327,671 45,155 KINGSOFT CLOUD HOLDINGS LIMITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS (All amounts in thousands, except for percentage)Three Months EndedMar 31,2024 Dec 31,2024 Mar 31,2025 Gross margin 16.5 % 19.1 % 16.2 % Adjusted gross margin (Non-GAAP Financial Measure) 16.8 % 19.2 % 16.6 % KINGSOFT CLOUD HOLDINGS LIMITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS (All amounts in thousands, except for percentage)Three Months EndedMar 31,2024 Dec 31,2024 Mar 31,2025 Mar 31,2025RMB RMB RMB US$ Net Loss (363,616) (200,642) (316,110) (43,560) Adjustments: – Share-based compensation expenses 103,595 24,774 134,611 18,550 – Foreign exchange loss (gain) 42,737 105,572 (9,051) (1,247) Adjusted net loss (Non-GAAP Financial Measure) (217,284) (70,296) (190,550) (26,257) Adjustments: – Interest income (8,370) (4,176) (4,946) (682) – Interest expense 51,066 61,821 82,897 11,424 – Income tax (benefit) expense (15,371) (3,706) 9,241 1,273 – Depreciation and amortization 223,146 376,100 421,901 58,140 Adjusted EBITDA (Non-GAAP Financial Measure) 33,187 359,743 318,543 43,898 – Gain on disposal of property and equipment (23,821) (10,137) (2,110) (291) Excluding gain on disposal of property and equipment, normalized Adjusted EBITDA 9,366 349,606 316,433 43,607 KINGSOFT CLOUD HOLDINGS LIMITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS (All amounts in thousands, except for percentage)Three Months EndedMar 31,2024 Dec 31,2024 Mar 31,2025 Mar 31,2025RMB RMB RMB US$ Operating loss (274,157) (43,511) (234,201) (32,273) Adjustments: – Share-based compensation expenses 103,595 24,774 134,611 18,550 – Amortization of intangible assets 43,517 43,104 43,781 6,033 Adjusted operating (loss) profit (Non-GAAP Financial Measure) (127,045) 24,367 (55,809) (7,690) – Gain on disposal of property and equipment (23,821) (10,137) (2,110) (291) Excluding gain on disposal of property and equipment, normalized Adjusted operating (loss) profit (150,866) 14,230 (57,919) (7,981) KINGSOFT CLOUD HOLDINGS LIMITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS (All amounts in thousands, except for percentage)Three Months EndedMar 31,2024 Dec 31,2024 Mar 31,2025 Net loss margin -20.5 % -9.0 % -16.0 % Adjusted net loss margin (Non-GAAP Financial Measure) -12.2 % -3.1 % -9.7 % Adjusted EBITDA margin (Non-GAAP Financial Measure) 1.9 % 16.1 % 16.2 % Normalized Adjusted EBITDA margin 0.5 % 15.7 % 16.1 % Adjusted operating (loss) profit margin (Non-GAAP Financial Measure) -7.2 % 1.1 % -2.8 % Normalized Adjusted operating (loss) profit margin -8.5 % 0.6 % -2.9 % KINGSOFT CLOUD HOLDINGS LIMITED UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (All amounts in thousands)Three Months EndedMar 31,2024 Dec 31,2024 Mar 31,2025 Mar 31,2025RMB RMB RMB US$ Net cash (used in) generated from operating activities (321,336) 570,222 (418,390) (57,656) Net cash used in investing activities (1,169,017) (1,337,978) (490,393) (67,578) Net cash generated from financing activities 1,112,096 1,802,762 549,998 75,792 Effect of exchange rate changes on cash, cash equivalents and restricted cash (20,464) (15,294) 15,028 2,071 Net (decrease) increase in cash, cash equivalents and restricted cash (398,721) 1,019,712 (343,757) (47,371) Cash, cash equivalents and restricted cash at beginning of period 2,489,481 1,710,389 2,730,101 376,218 Cash, cash equivalents and restricted cash at end of period 2,090,760 2,730,101 2,386,344 328,847 View original content: SOURCE Kingsoft Cloud Holdings Limited Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
20-05-2025
- Business
- Associated Press
DroneDeploy and Prime Air Launch Elevate Scholarship Program to Forge New Career Pathways in Age of AI and Robotics
Elevate trains next generation of drone professionals – offering free Part 107 prep, FAA support and access to AI-era careers in aviation, robotics and mapping. 'The drone delivery sector represents a dynamic intersection of aviation, robotics and AI. Prime Air is proud to support Elevate to train and develop the workforce of this growing industry.'— Matt McCardle, Dir. Infrastructure, Expansion and Regulation at Prime Air SAN FRANCISCO, CA, UNITED STATES, May 20, 2025 / / -- As AI and robotics continue to transform the way we work, the future of jobs is evolving in exciting and unpredictable ways. DroneDeploy and Prime Air, with support from FlyGuys, the Federal Aviation Administration (FAA) Collegiate Training Initiative (CTI) Program, National Center for Autonomous Technologies (NCAT) and Association for Uncrewed Vehicle Systems International (AUVSI), are proud to champion this cause with the launch of the Elevate Scholarship Program. This initiative directly addresses demand in the burgeoning drone industry while serving as a model for preparing the future workforce for the convergence of technology and automation. The World Economic Forum estimates that 65% of today's children will work in jobs that don't yet exist. Indeed, the workforce is changing rapidly, with recent reports indicating that up to 300 million jobs could be lost to AI globally, with 40% of employers expecting to reduce their workforce where AI can automate tasks. These statistics underscore the urgency to proactively develop training and educational programs that equip individuals with the skills to thrive in emerging industries. The drone industry exemplifies this shift, requiring a new generation of professionals who are adept at working with bleeding-edge technology and evolving with increasingly complex technological ecosystems. The FAA forecasts tremendous growth in the demand for remote drone pilots, seeking nearly half a million new pilots over the next five years. The Elevate Scholarship Program is a direct response to this demand, ensuring a pipeline of qualified professionals to fill these critical roles. Elevate represents a strategic investment in the future workforce of drone technology, specifically targeting individuals aged 16-24. The program goes beyond basic pilot training by bridging the skills gap, providing Part 107 training and resources to equip these young individuals with essential drone operation capabilities. Furthermore, Elevate promotes accessibility by removing financial barriers, notably covering the $175 test fee, to make drone careers a viable option for a wider pool of talent within this age group. Elevate aims to cultivate a skilled workforce that will drive continued innovation and expansion of drone technology across various sectors by fostering career pathways and connecting scholarship recipients with resources for advancement in the drone industry. 'The Elevate Scholarship Program is more than just a scholarship; it's an investment in the future,' said Jono Millin, Chief Data Officer and Co-Founder of DroneDeploy. 'By providing access to training and career resources, we are empowering individuals to not only participate in the drone revolution but also to shape the trajectory of the broader AI and robotics landscape.' 'The drone delivery sector represents a dynamic intersection of aviation, robotics, and artificial intelligence. Prime Air is proud to support the Elevate Scholarship Program to train and develop the workforce of this growing industry,' says Matt McCardle, Director of Infrastructure, Expansion, and Regulation at Prime Air. 'We are committed to partnering with industry leaders in developing the next generation of professionals who will help shape the future of autonomous delivery and build the foundation for an entirely new category of aviation careers.' 'We're proud to support DroneDeploy's Elevate initiative because access matters. When we talk about the future of work we're really talking about who gets to participate, and who gets left behind – this program is helping level that playing field,' said FlyGuys CEO Joe Stough. 'Elevate gives people a real way in: skills, certification and a clear path into an industry that's growing fast and changing even faster. This opens the door for young people who might not otherwise see themselves in this space and gives them the tools to step into it with confidence.' 'Elevate is exactly the kind of initiative our industry needs right now,' said Casie Ocaña, Vice President of Public Affairs at AUVSI. 'We're proud to support a program that not only opens doors for young professionals but also helps build a workforce that's capable, certified, and ready to lead in an era defined by autonomy, AI, and innovation.' The importance of the Elevate Scholarship Program is underscored by the involvement of leading organizations across the drone and robotics industry. These include Prime Air, a pioneer in drone delivery; DroneDeploy, a leader in aerial and ground reality capture and robotics; FlyGuys, a top online marketplace for reality capture data; as well as the FAA CTI Program, the National Center for Autonomous Technologies, and AUVSI, which provide vital industry advocacy and support. About the participating organizations: DroneDeploy To learn more, visit Prime Air To learn more, visit FlyGuys For more information, visit NCAT To learn more visit AUVSI To learn more, visit Joel Richman / Maripat Finegan Escalate PR [email protected] Visit us on social media: LinkedIn Instagram Facebook YouTube X Legal Disclaimer: EIN Presswire provides this news content 'as is' without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
Yahoo
13-05-2025
- Business
- Yahoo
Cisco Announces New Strategic AI Initiatives in the Middle East
News Summary: Cisco to join HUMAIN's alliance to build Saudi Arabia's future AI Infrastructure. Cisco and G42 extend their strategic partnership to drive AI innovation across the United Arab Emirates (UAE) and the United States. Cisco to collaborate with AIP (AI Infrastructure Partnership) to drive investment in data centers and AI infrastructure in the United States and globally. SAN JOSE, Calif., May 13, 2025 /CNW/ -- Cisco, the global leader in networking and security, today announced a series of strategic initiatives across all phases of the AI revolution in the United States and in the Middle East region. These new initiatives place Cisco at the center of the AI revolution in the Gulf, providing world class and trusted technology together with other Cisco partners. Partnering in the Middle East to Build the AI-powered FutureThe announcements this morning follow the visit last week by CEO Chuck Robbins to Saudi Arabia, UAE, Qatar, and Bahrain, and the visit today by Jeetu Patel, EVP and Chief Product Officer, to Saudi Arabia, where he is participating in President Trump's state visit to the region. During his tour of the region, Chuck Robbins met with the Crown Prince and Prime Minister of Saudi Arabia, Mohammed bin Salman, Crown Prince of Abu Dhabi, Sheikh Khaled bin Mohammed bin Zayed al Nahyan, Deputy Ruler of Abu Dhabi and National Security Advisor, Shiekh Tahnoon bin Zayed Al Nahyan, Prime Minister of Qatar, Sheikh Mohammed bin Abdulrahman Al Thani, National Security Advisor of Bahrain, Sheikh Nasser bin Hamed, as well as other senior officials and dignitaries. These high-level meetings built on the decades of Cisco's deep partnerships in these countries with a particular focus now on supporting secure and trustworthy buildouts of Artificial Intelligence (AI) infrastructure, AI innovation, research, and talent development. "The Gulf region's AI revolution is truly impressive, and Cisco is proud to play a key role in ensuring it is implemented intelligently, securely, and with trusted partners to drive maximum value for governments, businesses, and consumers. I am confident in Cisco's ability to help lead the way in the AI revolution and believe these new announcements exemplify that posture and positioning," Robbins said following the visit. "The pace of AI innovation today is unprecedented, and yet, what we're able to do today is just a fraction of what will be possible in just a few years," said Jeetu Patel, EVP and Chief Product Officer, Cisco. "For countries, organizations, and industries, the time to invest in key infrastructure, AI safety and security, and new skill development is now. Cisco is developing the critical technologies of the AI-era, and we're thrilled to be working across the Gulf to maximize their impact." Today's announcements feature major investments and strategic partnerships, including: AI Infrastructure Partnership (AIP): Cisco today announced that it will collaborate with the AI Infrastructure Partnership (AIP), which is led by BlackRock, Global Infrastructure Partners (GIP), MGX, Microsoft, NVIDIA and xAI. AIP will initially seek to unlock $30 billion in capital from investors, asset owners, and corporations. Cisco's addition as a technology partner to AIP, further strengthens the AIP platform as it seeks to invest in secure, efficient and scalable infrastructure to support AI workloads. Cisco, HUMAIN and expanded partnerships in Saudi Arabia: Cisco has announced to join a groundbreaking initiative with HUMAIN, Saudi Arabia's new AI enterprise to help build the world's most open, scalable, resilient and cost-efficient AI infrastructure. This landmark collaboration will set a new standard for how AI infrastructure is designed, secured and delivered – combining Cisco's global expertise with the Kingdom's bold AI ambitions. The multi-year initiative aims to position the country as a global leader in digital innovation. Cisco and G42: Cisco to extend strategic partnership with G42 to further advance AI innovation and infrastructure development in the UAE. The collaboration focuses on Cisco's comprehensive secure AI portfolio and AI-native solutions and services and G42's deep regional roots, AI infrastructure expertise, and expanding global footprint including a potential joint Go-To-Market initiative. Qatar's Digital Transformation: Qatar's Ministry of Interior and Cisco signed a letter of intent to collaborate on Qatar's digital transformation, AI, infrastructure development and cybersecurity. These announcements follow Cisco's other recent AI initiatives, including: Expanded Partnership with Nvidia to Accelerate AI Adoption in the Enterprise Release of AI's First Open-Source Security Model Cisco Unveils AI Defense to Secure the AI Transformation of Enterprises Cisco Launches $1B Global AI Investment Fund About Cisco Cisco (NASDAQ: CSCO) is the worldwide technology leader that is revolutionizing the way organizations connect and protect in the AI era. For more than 40 years, Cisco has securely connected the world. With its industry leading AI-powered solutions and services, Cisco enables its customers, partners and communities to unlock innovation, enhance productivity and strengthen digital resilience. With purpose at its core, Cisco remains committed to creating a more connected and inclusive future for all. Discover more on the Cisco Newsroom. Forward-Looking Statements This press release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, among others, statements regarding Cisco's future financial or business performance, strategies or expectations, including the anticipated timing, consummation and expected benefits of its plans in Saudi Arabia. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors, including, among other things, the ability of Cisco to achieve expected benefits of its investments, business and economic conditions and growth trends, increased competition, global economic conditions and uncertainties in the geopolitical environment and other risk factors set forth in Cisco's most recent reports on Form 10-K and 10-Q, respectively. Any forward-looking statements in this release are based on limited information currently available to Cisco, which is subject to change, and Cisco will not necessarily update the information. View original content to download multimedia: SOURCE Cisco Systems, Inc. View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Korea Herald
12-05-2025
- Business
- Korea Herald
Storage Meets AI: Longsys to Showcase Comprehensive Innovation at COMPUTEX 2025
SHENZHEN, China, May 12, 2025 /PRNewswire/ -- Longsys( a branded semiconductor enterprise, will exhibit at COMPUTEX 2025 from May 20 to 23 at the Taipei Nangang Exhibition Center, under the theme "Storage Meets AI." As artificial intelligence continues to drive innovation across devices and infrastructure, Longsys will unveil a comprehensive portfolio of high-performance, high-capacity, and highly reliable storage solutions built for AI-era applications. As AI models grow in size and are increasingly deployed locally, they require vast storage with strong throughput capabilities. This drives the demand for QLC NAND SSDs, which offer higher capacity at a lower cost compared to TLC and MLC. Longsys will debut the XP2350, a next-generation QLC NAND SSD engineered to meet the demands of large AI models and read-intensive tasks such as inference, generative AI, and machine learning. With superior storage density and cost-efficiency, the XP2350 QLC NAND SSD is optimized for fast local access to massive datasets. To meet the growing demand for compact and robust storage in industrial application, Longsys will introduce a new industrial-grade BGA SSD. This solution delivers high performance and long-term reliability in space-constrained environments, making it ideal for rugged tablets, embedded systems, and industrial PCs. Compared to consumer-grade BGA SSDs, it offers enhanced endurance and stability, expanding Longsys' industrial storage portfolio. In the consumer application, Lexar, Longsys's high-end consumer storage brand, will showcase the NM1090 PRO PCIe Gen5 SSD, which doubles the speed of Gen4 SSDs. This flagship model is built to deliver top-tier performance for demanding creators, gamers, and professionals. In addition to the XP2350 QLC NAND SSD, Longsys will showcase a broader portfolio of AI-oriented storage innovations. These include QLC-based eMMC solutions optimized for mobile devices, offering higher storage density and lower power consumption to support next-generation on-device AI in consumer electronics. The company will also feature enterprise-grade SSDs and DRAM designed for AI data centers, delivering the performance and reliability required for localized AI deployment. Longsys will also present its PTM (Product Technology Manufacturing) model—an end-to-end storage foundry service that integrates chip design, firmware development, packaging, industrial design, testing, and manufacturing. This full-stack service enables customizable storage solutions across AI PCs, servers, smartphones, and data centers. With the convergence of AI and storage accelerating, Longsys is committed to empowering intelligent transformation with innovative products and solutions. Join Longsys at COMPUTEX 2025 to experience how "Storage Meets AI" is shaping the future of smart technology. About Longsys Founded in 1999, Longsys( is a globally leading branded semiconductor memory enterprise, integrating R&D, design, packaging and testing, manufacturing, and sales services. Longsys upholds the corporate vision of "Everything for memory." With memory technology innovation at its core, Longsys provides high-end, flexible, and efficient full-stack customized services to global customers. For more information please visit and follow Longsys on LinkedIn, Facebook and Twitter.
