Cheetah Mobile Inc. (CMCM) Income Statement
CMCM 2025 at a glance
Fiscal year ended December 31, 2025 · Chinese yuanCMCM revenue and net income
Where CMCM's revenue goes
2025Each bar shows an amount and its share of revenue. CMCM kept −22.4% of revenue as net income.
CMCM profit margins
CMCM growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +42.6% | +9.2% | −5.8% | −11.2% |
| Gross profit | +53.0% | +9.7% | −5.0% | −11.5% |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
CMCM income statement in Chinese yuan
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.15B | CN¥806.9M | CN¥669.5M | CN¥884.1M | CN¥784.6M | CN¥1.55B | CN¥3.59B | CN¥4.98B | CN¥4.97B | CN¥4.56B |
| Cost of revenue | CN¥316.4M | CN¥261.7M | CN¥231.9M | CN¥252.6M | CN¥257.7M | CN¥475.4M | CN¥1.24B | CN¥1.54B | CN¥1.78B | CN¥1.54B |
| Gross profit | CN¥834.0M | CN¥545.2M | CN¥437.6M | CN¥631.5M | CN¥527.0M | CN¥1.08B | CN¥2.35B | CN¥3.44B | CN¥3.19B | CN¥3.02B |
| Research & development | CN¥346.2M | CN¥243.4M | CN¥178.2M | CN¥181.0M | CN¥211.6M | CN¥455.2M | CN¥787.3M | CN¥668.9M | CN¥684.9M | CN¥905.9M |
| Sales, general & admin | CN¥629.3M | CN¥586.8M | CN¥472.1M | CN¥691.2M | CN¥191.9M | CN¥1.15B | CN¥2.15B | CN¥2.34B | CN¥2.06B | CN¥561.8M |
| Total operating expenses | CN¥971.9M | CN¥829.6M | CN¥647.4M | CN¥857.1M | CN¥756.5M | CN¥1.61B | CN¥3.46B | CN¥2.97B | CN¥2.75B | CN¥3.03B |
| Operating income | −CN¥137.9M | −CN¥284.4M | −CN¥209.8M | −CN¥225.6M | −CN¥229.6M | −CN¥531.1M | −CN¥1.11B | CN¥467.2M | CN¥446.9M | −CN¥12.4M |
| Interest income | CN¥30.6M | CN¥44.4M | CN¥61.0M | CN¥35.7M | CN¥25.4M | CN¥35.7M | CN¥110.0M | CN¥87.7M | CN¥22.6M | CN¥7.8M |
| Interest expense | — | — | — | CN¥54.7M | CN¥83.6M | CN¥1.15B | CN¥221.0M | CN¥0 | CN¥0 | CN¥0 |
| Income before taxes | −CN¥226.7M | −CN¥554.3M | −CN¥637.6M | −CN¥545.8M | −CN¥339.6M | CN¥508.2M | −CN¥365.7M | CN¥1.27B | CN¥1.43B | −CN¥68.9M |
| Income taxes | CN¥8.5M | CN¥47.3M | −CN¥43.8M | −CN¥25.1M | CN¥13.6M | CN¥97.1M | CN¥7.9M | CN¥117.0M | CN¥57.6M | −CN¥12.2M |
| Net income | −CN¥257.7M | −CN¥617.6M | −CN¥602.9M | −CN¥513.5M | −CN¥353.2M | CN¥416.7M | −CN¥343.8M | CN¥1.13B | CN¥1.33B | −CN¥80.5M |
| EBITDA | CN¥9.4M | −CN¥232.9M | −CN¥174.6M | −CN¥172.6M | −CN¥203.0M | −CN¥462.6M | −CN¥499.8M | CN¥547.3M | CN¥583.2M | CN¥153.8M |
| Gross margin | 72.5% | 67.6% | 65.4% | 71.4% | 67.2% | 69.4% | 65.4% | 69.1% | 64.2% | 66.2% |
| Operating margin | −12.0% | −35.2% | −31.3% | −25.5% | −29.3% | −34.2% | −31.0% | 9.4% | 9.0% | −0.3% |
| Net margin | −22.4% | −76.5% | −90.1% | −58.1% | −45.0% | 26.8% | −9.6% | 22.7% | 26.8% | −1.8% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥266.1M | CN¥259.0M | CN¥304.6M | CN¥287.4M | CN¥295.2M | CN¥259.0M | CN¥237.1M | CN¥192.1M | CN¥187.4M | CN¥190.3M | CN¥167.3M | CN¥164.8M |
| Cost of revenue | CN¥97.5M | CN¥92.4M | CN¥158.5M | CN¥73.0M | CN¥70.4M | CN¥69.5M | CN¥64.3M | CN¥61.7M | CN¥65.9M | CN¥77.0M | CN¥68.2M | CN¥50.3M |
| Gross profit | CN¥168.6M | CN¥166.6M | CN¥146.1M | CN¥214.4M | CN¥224.8M | CN¥189.5M | CN¥172.8M | CN¥130.4M | CN¥121.5M | CN¥113.3M | CN¥99.1M | CN¥114.5M |
| Research & development | CN¥58.8M | CN¥57.7M | CN¥147.8M | CN¥68.0M | CN¥67.1M | CN¥61.2M | CN¥65.5M | CN¥66.3M | CN¥54.3M | CN¥57.3M | CN¥39.6M | CN¥45.8M |
| Sales, general & admin | CN¥143.4M | CN¥137.8M | CN¥159.8M | CN¥143.0M | CN¥169.1M | CN¥157.5M | CN¥161.1M | CN¥136.4M | CN¥145.0M | CN¥137.1M | CN¥120.2M | CN¥110.5M |
| Total operating expenses | CN¥202.2M | CN¥194.8M | CN¥248.9M | CN¥210.4M | CN¥235.9M | CN¥216.0M | CN¥291.3M | CN¥202.4M | CN¥199.1M | CN¥193.9M | CN¥228.3M | CN¥155.5M |
| Operating income | −CN¥33.6M | −CN¥28.3M | −CN¥102.8M | CN¥3.9M | −CN¥11.1M | −CN¥26.5M | −CN¥54.2M | −CN¥72.0M | −CN¥77.5M | −CN¥80.6M | −CN¥60.9M | −CN¥41.0M |
| Interest income | CN¥3.2M | CN¥3.4M | CN¥5.5M | CN¥9.6M | CN¥10.0M | CN¥5.6M | CN¥9.9M | CN¥9.5M | CN¥9.8M | CN¥15.3M | CN¥15.8M | CN¥17.9M |
| Income before taxes | −CN¥78.3M | −CN¥4.3M | −CN¥197.8M | CN¥9.8M | −CN¥12.6M | −CN¥23.3M | −CN¥311.8M | −CN¥39.4M | −CN¥126.9M | −CN¥76.1M | −CN¥349.0M | −CN¥19.7M |
| Income taxes | CN¥8.2M | CN¥7.6M | −CN¥13.5M | CN¥13.5M | CN¥3.9M | CN¥4.8M | — | CN¥2.4M | −CN¥6.4M | CN¥198,000 | — | CN¥218,000 |
| Net income | −CN¥94.9M | −CN¥17.5M | −CN¥188.1M | −CN¥11.0M | −CN¥22.6M | −CN¥33.4M | −CN¥366.8M | −CN¥46.9M | −CN¥123.8M | −CN¥80.0M | −CN¥301.2M | −CN¥24.3M |
| EBITDA | −CN¥33.6M | −CN¥28.3M | CN¥10.0M | CN¥3.9M | −CN¥11.1M | −CN¥26.5M | — | −CN¥72.0M | −CN¥77.5M | −CN¥80.6M | — | −CN¥41.0M |
| Gross margin | 63.4% | 64.3% | 48.0% | 74.6% | 76.1% | 73.2% | 72.9% | 67.9% | 64.8% | 59.6% | 59.2% | 69.4% |
| Operating margin | −12.6% | −10.9% | −33.8% | 1.4% | −3.7% | −10.2% | −22.9% | −37.5% | −41.4% | −42.3% | −36.4% | −24.9% |
| Net margin | −35.7% | −6.7% | −61.8% | −3.8% | −7.7% | −12.9% | −154.7% | −24.4% | −66.1% | −42.1% | −180.0% | −14.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in Chinese yuan as reported in CMCM's financial statements (latest annual report filed April 23, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
CMCM financial results
In fiscal year 2025 (ended December 31, 2025), Cheetah Mobile reported revenue of CN¥1.2 billion, up 42.6% from the year before. It had a net loss of CN¥257.7 million, a net profit margin of −22.4%. Over five years revenue grew at an average rate of −5.8% a year. Figures are in Chinese yuan, the currency of its financial statements.
See the CMCM stock overview for the latest quote and news, or the CMCM chart for price history and technical indicators.
CMCM income statement FAQ
What is Cheetah Mobile's annual revenue?
Cheetah Mobile reported total revenue of CN¥1.2 billion for fiscal year 2025, which ended on December 31, 2025. That was up 42.6% from CN¥806.9 million the previous year.
Is Cheetah Mobile profitable?
No. Cheetah Mobile reported a net loss of CN¥257.7 million in fiscal 2025, a net profit margin of −22.4%; its operating margin was −12.0%.
What is Cheetah Mobile's gross margin?
Cheetah Mobile's gross margin was 72.5% in fiscal 2025: for every $100 of revenue, Cheetah Mobile kept $72 after the direct cost of its products and services.
How much does Cheetah Mobile spend on research and development?
Cheetah Mobile spent CN¥346.2 million on research and development in fiscal 2025, 30.1% of revenue.
How fast is Cheetah Mobile growing?
Revenue grew −5.8% a year on average over the last five fiscal years, from CN¥1.6 billion to CN¥1.2 billion.
When will Cheetah Mobile report its next earnings?
Cheetah Mobile is expected to report results for the quarter ending September 30, 2026 on November 25, 2026.
When does Cheetah Mobile's fiscal year end?
Cheetah Mobile's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on April 23, 2026.