Kingsoft Cloud Holdings Limited (KC) Income Statement
KC 2025 at a glance
Fiscal year ended December 31, 2025 · Chinese yuanKC revenue and net income
Where KC's revenue goes
2025Each bar shows an amount and its share of revenue. KC kept −9.8% of revenue as net income.
KC profit margins
KC growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +22.8% | +5.3% | +7.8% | — |
| Gross profit | +12.1% | +51.8% | +33.3% | — |
| 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.
KC income statement in Chinese yuan
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥9.56B | CN¥7.79B | CN¥7.05B | CN¥8.18B | CN¥9.06B | CN¥6.58B | CN¥3.96B | CN¥2.22B | CN¥1.24B |
| Cost of revenue | CN¥8.06B | CN¥6.44B | CN¥6.20B | CN¥7.75B | CN¥8.71B | CN¥6.22B | CN¥3.95B | CN¥2.42B | CN¥1.35B |
| Gross profit | CN¥1.50B | CN¥1.34B | CN¥850.2M | CN¥429.5M | CN¥351.3M | CN¥357.0M | CN¥7.7M | −CN¥200.4M | −CN¥118.2M |
| Research & development | CN¥810.3M | CN¥846.0M | CN¥784.8M | CN¥971.2M | CN¥1.04B | CN¥775.1M | CN¥595.2M | CN¥440.5M | CN¥399.2M |
| Sales, general & admin | CN¥1.12B | CN¥854.1M | CN¥863.7M | CN¥1.21B | CN¥1.01B | CN¥757.2M | CN¥494.2M | CN¥338.5M | CN¥209.5M |
| Total operating expenses | CN¥2.03B | CN¥2.17B | CN¥2.20B | CN¥2.66B | CN¥2.08B | CN¥1.56B | CN¥1.15B | CN¥779.0M | CN¥608.7M |
| Operating income | −CN¥527.4M | −CN¥825.7M | −CN¥1.35B | −CN¥2.23B | −CN¥1.72B | −CN¥1.21B | −CN¥1.14B | −CN¥979.4M | −CN¥726.9M |
| Interest income | CN¥80.9M | CN¥27.0M | CN¥78.4M | CN¥80.7M | CN¥71.9M | CN¥77.1M | CN¥78.6M | CN¥116.5M | CN¥19.6M |
| Interest expense | CN¥484.5M | CN¥233.0M | CN¥146.0M | CN¥140.2M | CN¥51.4M | CN¥8.9M | CN¥4.9M | CN¥40.3M | CN¥35.5M |
| Income before taxes | −CN¥947.9M | −CN¥1.98B | −CN¥2.17B | −CN¥2.66B | −CN¥1.58B | −CN¥947.3M | −CN¥1.10B | −CN¥996.8M | −CN¥713.6M |
| Income taxes | −CN¥4.2M | −CN¥1.5M | CN¥18.0M | CN¥24.5M | CN¥15.7M | CN¥14.9M | CN¥9.0M | CN¥9.6M | CN¥668,000 |
| Net income | −CN¥936.3M | −CN¥1.97B | −CN¥2.18B | −CN¥2.66B | −CN¥1.59B | −CN¥962.3M | −CN¥1.11B | −CN¥1.01B | −CN¥714.2M |
| EBITDA | CN¥2.03B | −CN¥487.8M | −CN¥1.08B | −CN¥1.37B | −CN¥668.4M | −CN¥179.8M | −CN¥492.7M | −CN¥545.6M | −CN¥379.5M |
| Gross margin | 15.7% | 17.2% | 12.1% | 5.3% | 3.9% | 5.4% | 0.2% | −9.0% | −9.6% |
| Operating margin | −5.5% | −10.6% | −19.2% | −27.2% | −19.0% | −18.4% | −28.9% | −44.2% | −58.8% |
| Net margin | −9.8% | −25.3% | −30.9% | −32.5% | −17.5% | −14.6% | −28.1% | −45.4% | −57.8% |
| 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¥3.06B | CN¥2.70B | CN¥2.76B | CN¥2.48B | CN¥2.35B | CN¥1.97B | CN¥2.23B | CN¥1.89B | CN¥1.89B | CN¥1.78B | CN¥1.72B | CN¥1.63B |
| Cost of revenue | CN¥2.60B | CN¥2.36B | CN¥2.30B | CN¥2.10B | CN¥2.01B | CN¥1.65B | CN¥1.81B | CN¥1.58B | CN¥1.57B | CN¥1.48B | CN¥1.47B | CN¥1.43B |
| Gross profit | CN¥464.9M | CN¥345.7M | CN¥465.4M | CN¥380.9M | CN¥338.9M | CN¥318.3M | CN¥426.0M | CN¥303.4M | CN¥318.3M | CN¥293.3M | CN¥253.1M | CN¥196.2M |
| Research & development | CN¥189.4M | CN¥193.3M | CN¥190.2M | CN¥199.6M | CN¥194.3M | CN¥226.2M | CN¥174.2M | CN¥235.9M | CN¥204.0M | CN¥232.0M | CN¥175.2M | CN¥200.4M |
| Sales, general & admin | CN¥253.3M | CN¥318.5M | CN¥358.3M | CN¥326.5M | CN¥471.6M | CN¥326.3M | CN¥295.3M | CN¥291.5M | CN¥392.0M | CN¥335.4M | CN¥207.9M | CN¥332.2M |
| Total operating expenses | CN¥442.0M | CN¥511.9M | CN¥286.3M | CN¥526.2M | CN¥665.8M | CN¥552.5M | CN¥469.5M | CN¥527.4M | CN¥595.9M | CN¥567.4M | CN¥495.1M | CN¥1.00B |
| Operating income | CN¥22.9M | −CN¥166.1M | CN¥179.1M | −CN¥145.3M | −CN¥327.0M | −CN¥234.2M | −CN¥43.5M | −CN¥224.0M | −CN¥277.6M | −CN¥274.2M | −CN¥342.7M | −CN¥804.8M |
| Interest income | CN¥25.9M | CN¥32.0M | CN¥39.0M | CN¥25.4M | CN¥11.5M | CN¥4.9M | CN¥4.2M | CN¥4.5M | CN¥9.9M | CN¥8.4M | CN¥12.4M | CN¥26.3M |
| Interest expense | CN¥166.3M | CN¥153.6M | CN¥151.3M | CN¥136.4M | CN¥123.5M | CN¥82.7M | CN¥61.8M | CN¥56.1M | CN¥59.6M | CN¥51.4M | CN¥47.0M | CN¥41.1M |
| Income before taxes | −CN¥76.3M | −CN¥338.6M | −CN¥176.3M | −CN¥10.2M | −CN¥454.5M | −CN¥306.9M | −CN¥204.3M | −CN¥1.05B | −CN¥346.8M | −CN¥379.0M | −CN¥286.2M | −CN¥778.7M |
| Income taxes | CN¥16.5M | CN¥5.1M | −CN¥13.4M | −CN¥2.4M | CN¥2.3M | CN¥9.2M | CN¥3.7M | CN¥10.7M | CN¥6.9M | −CN¥15.4M | CN¥598,000 | CN¥11.0M |
| Net income | −CN¥92.8M | −CN¥343.8M | −CN¥160.2M | −CN¥4.6M | −CN¥457.5M | −CN¥313.9M | −CN¥197.0M | −CN¥1.06B | −CN¥353.2M | −CN¥359.4M | −CN¥284.1M | −CN¥785.9M |
| EBITDA | CN¥1.03B | CN¥670.3M | CN¥2.46B | CN¥126.9M | −CN¥329.9M | −CN¥224.0M | CN¥332.6M | −CN¥993.0M | −CN¥287.4M | −CN¥327.9M | −CN¥155.2M | −CN¥737.9M |
| Gross margin | 15.2% | 12.8% | 16.9% | 15.4% | 14.4% | 16.2% | 19.1% | 16.1% | 16.8% | 16.5% | 14.7% | 12.1% |
| Operating margin | 0.7% | −6.1% | 6.5% | −5.9% | −13.9% | −11.9% | −1.9% | −11.9% | −14.7% | −15.4% | −19.9% | −49.5% |
| Net margin | −3.0% | −12.7% | −5.8% | −0.2% | −19.5% | −15.9% | −8.8% | −56.1% | −18.7% | −20.2% | −16.5% | −48.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in Chinese yuan as reported in KC's financial statements (latest annual report filed April 23, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
KC financial results
In fiscal year 2025 (ended December 31, 2025), Kingsoft Cloud reported revenue of CN¥9.6 billion, up 22.8% from the year before. It had a net loss of CN¥936.3 million, a net profit margin of −9.8%. Over five years revenue grew at an average rate of 7.8% a year. Figures are in Chinese yuan, the currency of its financial statements.
See the KC stock overview for the latest quote and news, or the KC chart for price history and technical indicators.
KC income statement FAQ
What is Kingsoft Cloud's annual revenue?
Kingsoft Cloud reported total revenue of CN¥9.6 billion for fiscal year 2025, which ended on December 31, 2025. That was up 22.8% from CN¥7.8 billion the previous year.
Is Kingsoft Cloud profitable?
No. Kingsoft Cloud reported a net loss of CN¥936.3 million in fiscal 2025, a net profit margin of −9.8%; its operating margin was −5.5%.
What is Kingsoft Cloud's gross margin?
Kingsoft Cloud's gross margin was 15.7% in fiscal 2025: for every $100 of revenue, Kingsoft Cloud kept $16 after the direct cost of its products and services.
How much does Kingsoft Cloud spend on research and development?
Kingsoft Cloud spent CN¥810.3 million on research and development in fiscal 2025, 8.5% of revenue.
How fast is Kingsoft Cloud growing?
Revenue grew 7.8% a year on average over the last five fiscal years, from CN¥6.6 billion to CN¥9.6 billion.
When will Kingsoft Cloud report its next earnings?
Kingsoft Cloud is expected to report results for the quarter ending September 30, 2026 on November 18, 2026 before the market opens.
When does Kingsoft Cloud's fiscal year end?
Kingsoft Cloud's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on April 23, 2026.