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Kingsoft Cloud Announces Unaudited Second Quarter 2022 Financial Results

Kingsoft Cloud Holdings Limited
Kingsoft Cloud Holdings Limited

BEIJING, Sept. 06, 2022 (GLOBE NEWSWIRE) -- 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 second quarter ended June 30, 2022.

Mr. Tao Zou, Chief Executive Officer of Kingsoft Cloud, commented, “Despite the challenging operating environment since the second half of 2021, we see vast and definite opportunities brought about by digital transformation. It is our firm commitment to tackle the challenges and embrace the opportunities head-on with our unique value propositions, including among others, (1) “building a business led by technology” to continuously perfect our scalable core technologies and products; (2) turn-key solution driven sales to offer readily accessible and tangible value of cloud adoption for traditional enterprises in China; and (3) adhering to neutrality and remaining one of the most trusted cloud service provider across industry verticals. We believe, with such value propositions, we will be able to penetrate deep in existing verticals, while tapping into transferrable expertise and Kingsoft and Xiaomi ecosystem, to strategically expand into new industry vertical for sustainable quality growth.”

Mr. Henry He, Chief Financial Officer of Kingsoft Cloud, added, “Our total revenues amounted to RMB1,906.5 million in the second quarter of 2022. Among which, revenues from public cloud services amounted to RMB1,289.1 million in the second quarter of 2022. As we continued to proactively scale down our CDN services, its gross billing decreased by 30% year-over-year, while computing and storage services’ gross billing increased by 5% year-over-year. Revenues from enterprise cloud services amounted to RMB616.6 million, largely stable year-over-year, as we navigated through challenging operating environment which slowed down bidding and project deployment process during the second quarter. Meanwhile, to drive efficiency, we have executed cost control measures and successfully saved RMB252.6 million in total costs on a sequential basis.

Despite the challenges, we remain confident about our long-term prospect and value. We are pleased to announce that we intend to enter into a repurchase agreement with potential size no more than US$30 million during a 90 days window, subject to agreements to be finalized with repurchase agent. This action is pursuant to and part of the US$100 million repurchase program authorized by the board and announced back in March 2022. As usual, the timing, structure and dollar amount of the repurchase will be subject to, among others, the market conditions, terms to be agreed with the relevant repurchase agent, the trading prices of ADSs, and the relevant securities rules and regulations.”

Second Quarter 2022 Financial Results

Total Revenues reached RMB1,906.5 million (US$284.61 million), representing a decrease of 12.3% from RMB2,173.7 million in the same period of 2021. The decrease was mainly due to our proactive scaling down of CDN services, with its gross billings decreased by 30% on year-over-year basis, as well as the delays to the deployment and bidding process of our enterprise cloud projects mainly caused by the resurgences of COVID-19.

  • Revenues from public cloud services decreased by 16.9% to RMB1,289.1 million (US$192.5 million), compared with RMB1,550.8 million in the same quarter of 2021. The decrease was mainly due to the above-mentioned scaling down of our CDN services, and partially offset by the increase of billings from computing and storage services.

  • Revenues from enterprise cloud services were RMB616.6 million (US$92.0 million), representing a slight decrease of 0.9% from RMB622.1 million in the same quarter of 2021. The slight decrease was mainly due to the difficult operating and market environments as a result of COVID resurgences, which slowed down bidding and project deployment process.

  • Other revenues were RMB0.8 million (US$0.1 million) in the second quarter of 2022.

Cost of revenues was RMB1,841.3 million (US$274.9 million), representing a decrease of 12.1% from RMB2,093.9 million last quarter and a decrease of 10.4% from RMB2,055.2 million in the same quarter of 2021. IDC costs decreased by RMB81.3 million from last quarter to RMB1,029.1 million this quarter, in line with our proactive scale down of our CDN services. Depreciation and amortization costs increased slightly by 1.2% quarter-over-quarter to RMB249.1 million as a result of continued capex. Fulfillment costs decreased from RMB184.5 million last quarter to RMB24.7 million this quarter, mainly due to the slowdown of deployment process as a result of the resurgences of COVID-19. Other costs were RMB48.6 million this quarter.

Gross profit was RMB65.2 million (US$9.7 million), compared with RMB80.0 million last quarter and RMB118.5 million in the same period in 2021. Gross margin was 3.4%, compared with 3.7% last quarter and 5.5% in the same period in 2021. Non-GAAP gross profit2 were RMB68.4 million (US$10.2 million), compared with RMB83.6 million last quarter and RMB121.4 million in the same period in 2021. Non-GAAP gross margin was 3.6%, compared with 3.8% last quarter and 5.6% in the same period in 2021.

Total operating expenses were RMB617.2 million (US$92.2 million), compared with RMB612.8 million last quarter and RMB438.9 million in the same period in 2021.

Selling and marketing expenses were RMB146.2 million (US$21.8 million), compared with RMB144.4 million last quarter and RMB96.1 million in the same period in 2021.

General and administrative expenses were RMB250.1 million (US$37.3 million), compared with RMB221.8 million last quarter and RMB110.6 million in the same period in 2021.

___________________________
1This 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 RMB6.6981 to US$1.00, the noon buying rate in effect on June 30, 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.

Research and development expenses were RMB220.9 million (US$33.0 million), compared with RMB246.6 million last quarter and RMB232.3 million in the same period in 2021.

Operating loss was RMB552.0 million (US$82.4 million), compared with operating loss of RMB532.8 million last quarter and RMB320.5 million in the same quarter of 2021.

Net loss was RMB810.5 million (US$121.0 million), compared with net loss of RMB554.8 million last quarter and RMB220.6 million in the same quarter of 2021. The increase of net loss was mainly due to the significant depreciation of RMB against USD, resulting foreign exchange loss of RMB229.2 million this quarter.

Non-GAAP net loss was RMB451.7 million (US$67.4 million), compared with net loss of RMB450.9 million last quarter and RMB235.6 million in the same quarter of 2021.

Non-GAAP EBITDA was RMB-147.7 million (US$-22.1 million), compared with RMB-152.2 million last quarter and RMB-55.3 million in the same quarter of 2021. Non-GAAP EBITDA margin was -7.7%, compared with -7.0% last quarter and -2.5% in the same quarter of 2021.

Basic and diluted net loss per share was RMB0.22 (US$0.03), compared with RMB0.15 last quarter and RMB0.07 in the same quarter of 2021.

Cash and cash equivalents and short-term investments were RMB5,352.0 million (US$799.0 million) as of June 30, 2022, compared to RMB5,604.0 million as of March 31, 2022.

Outstanding ordinary shares were 3,663,417,840 as of June 30, 2022, equivalent to about 244,227,856 ADSs.

Business Outlook

For the third quarter of 2022, the Company expects total revenues to be between RMB1.95 billion and RMB2.15 billion, representing a quarter-over-quarter increase of 2.3% to 12.8%. 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 Tuesday, September 6, 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 https://register.vevent.com/register/BI70b64716007f4342b0ab1c4119d00611. Once preregistration has been completed, each participant will receive dial-in details, including dial-in numbers and a unique access PIN.

To join the conference, simply dial the number in the email you receive after preregistering followed by the access 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 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 (loss), 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 RMB6.6981 to US$1.00, the noon buying rate in effect on June 30, 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 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; 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 Shan
Tel: +86 (10) 6292-7777 Ext. 6300
Email: ksc-ir@kingsoft.com

Christensen
In China
Mr. Eric Yuan
Phone: +86-10-5900-1548
Email: eyuan@christensenir.com

In US
Ms. Linda Bergkamp
Phone: +1-480-6143004
Email: lbergkamp@christensenir.com

KINGSOFT CLOUD HOLDINGS LIMITED

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(All amounts in thousands)

 

Dec 31,
2021

Jun 30,
2022

Jun 30,
2022

 

RMB

RMB

US$

ASSETS

 

 

 

Current assets:

 

 

 

Cash and cash equivalents

4,217,528

 

2,732,331

 

407,926

 

Restricted cash

239,093

 

44,439

 

6,635

 

Accounts receivable, net

3,570,975

 

2,872,904

 

428,913

 

Short-term investments

2,491,056

 

2,619,701

 

391,111

 

Prepayments and other assets

1,687,021

 

1,694,048

 

252,914

 

Amounts due from related parties

207,143

 

357,853

 

53,426

 

Total current assets

12,412,816

 

10,321,276

 

1,540,924

 

Non-current assets:

 

 

 

Property and equipment, net

2,364,103

 

2,449,659

 

365,724

 

Intangible assets, net

1,169,767

 

1,086,514

 

162,212

 

Prepayments and other assets

29,066

 

22,437

 

3,350

 

Equity investments

207,166

 

271,146

 

40,481

 

Goodwill

4,625,115

 

4,605,724

 

687,616

 

Amounts due from related parties

5,758

 

4,889

 

730

 

Operating lease right-of-use assets

256,451

 

225,225

 

33,625

 

Deferred tax assets,net

7,798

 

13,464

 

2,010

 

Total non-current assets

8,665,224

 

8,679,058

 

1,295,748

 

Total assets

21,078,040

 

19,000,334

 

2,836,672

 

 

 

 

 

LIABILITIES AND SHAREHOLDERS’ EQUITY

 

 

 

Current liabilities:

 

 

 

Short-term bank loans

1,348,166

 

1,266,270

 

189,049

 

Accounts payable

2,938,632

 

2,409,134

 

359,674

 

Accrued expenses and other current liabilities

2,223,840

 

2,748,407

 

410,326

 

Income tax payable

60,217

 

43,163

 

6,444

 

Amounts due to related parties

836,435

 

826,042

 

123,325

 

Current operating lease liabilities

108,590

 

100,620

 

15,022

 

Total current liabilities

7,515,880

 

7,393,636

 

1,103,840

 

 

 

 

 

Non-current liabilities:

 

 

 

Deferred tax liabilities

205,889

 

192,004

 

28,665

 

Amounts due to related parties

472,882

 

354,392

 

52,909

 

Other liabilities

1,232,677

 

206,611

 

30,846

 

Non-current operating lease liabilities

158,289

 

138,433

 

20,668

 

Total non-current liabilities

2,069,737

 

891,440

 

133,088

 

Total liabilities

9,585,617

 

8,285,076

 

1,236,928

 

Shareholders’ equity:

 

 

 

Ordinary shares

24,782

 

24,892

 

3,716

 

Additional paid-in capital

18,245,801

 

18,458,178

 

2,755,733

 

Accumulated deficit

(7,458,752

)

(8,814,998

)

(1,316,045

)

Accumulated other comprehensive loss

(207,882

)

175,099

 

26,142

 

Total Kingsoft Cloud Holdings Limited shareholders’ equity

10,603,949

 

9,843,171

 

1,469,546

 

Noncontrolling interests

888,474

 

872,087

 

130,199

 

Total equity

11,492,423

 

10,715,258

 

1,599,745

 

Total liabilities and shareholders’ equity

21,078,040

 

19,000,334

 

2,836,673

 

 

 

 

 



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

Six Months Ended

 

Jun 30,
2021

March 31,
2022

Jun 30,
2022

Jun 30,
2022

Jun 30,
2021

Jun 30,
2022

Jun 30,
2022

 

RMB

RMB

RMB

US$

RMB

RMB

US$

Revenues:

 

 

 

 

 

 

 

Public cloud services

1,550,777

 

1,380,807

 

1,289,144

 

192,464

 

2,942,610

 

2,669,951

 

398,613

 

Enterprise cloud services

622,145

 

792,509

 

616,574

 

92,052

 

1,042,177

 

1,409,083

 

210,371

 

Others

765

 

493

 

780

 

116

 

2,432

 

1,273

 

190

 

Total revenues

2,173,687

 

2,173,809

 

1,906,498

 

284,633

 

3,987,219

 

4,080,307

 

609,174

 

Cost of revenues

(2,055,205

)

(2,093,851

)

(1,841,294

)

(274,898

)

(3,752,234

)

(3,935,145

)

(587,502

)

Gross profit

118,482

 

79,958

 

65,204

 

9,735

 

234,985

 

145,162

 

21,672

 

Operating expenses:

 

 

 

 

 

 

 

Selling and marketing expenses

(96,058

)

(144,405

)

(146,210

)

(21,829

)

(208,884

)

(290,615

)

(43,388

)

General and administrative expenses

(110,637

)

(221,763

)

(250,073

)

(37,335

)

(201,814

)

(471,836

)

(70,443

)

Research and development expenses

(232,252

)

(246,633

)

(220,946

)

(32,986

)

(496,888

)

(467,579

)

(69,808

)

Total operating expenses

(438,947

)

(612,801

)

(617,229

)

(92,150

)

(907,586

)

(1,230,030

)

(183,639

)

Operating loss

(320,465

)

(532,843

)

(552,025

)

(82,415

)

(672,601

)

(1,084,868

)

(161,967

)

Interest income

18,927

 

21,157

 

17,490

 

2,611

 

36,673

 

38,647

 

5,770

 

Interest expense

(6,689

)

(34,066

)

(34,207

)

(5,107

)

(10,555

)

(68,273

)

(10,193

)

Foreign exchange gain (loss)

71,277

 

(18,741

)

(229,237

)

(34,224

)

22,902

 

(247,978

)

(37,022

)

Other gain, net

15,357

 

(12,035

)

(15,931

)

(2,378

)

21,139

 

(27,966

)

(4,175

)

Other income (expense), net

4,464

 

20,038

 

(37

)

(6

)

6,390

 

20,001

 

2,986

 

Loss before income taxes

(217,129

)

(556,490

)

(813,947

)

(121,519

)

(596,052

)

(1,370,437

)

(204,601

)

Income tax expense

(3,469

)

1,670

 

3,483

 

520

 

(6,755

)

5,153

 

769

 

Net loss

(220,598

)

(554,820

)

(810,464

)

(120,999

)

(602,807

)

(1,365,284

)

(203,832

)

Less: net income (loss) attributable to noncontrolling interests

(244

)

(1,571

)

(7,467

)

(1,115

)

11

 

(9,038

)

(1,349

)

Net loss attributable to Kingsoft Cloud Holdings Limited

(220,354

)

(553,249

)

(802,997

)

(119,884

)

(602,818

)

(1,356,246

)

(202,483

)

 

 

 

 

 

 

 

 

Net loss per share:

 

 

 

 

 

 

 

Basic and diluted

(0.07

)

(0.15

)

(0.22

)

(0.03

)

(0.18

)

(0.37

)

(0.06

)

Shares used in the net loss per share computation:

 

 

 

 

 

 

 

Basic and diluted

3,351,178,745

 

3,648,282,282

 

3,654,629,480

 

3,654,629,480

 

3,347,286,795

 

3,651,473,415

 

3,651,473,415

 

Other comprehensive income (loss), net of tax of nil:

 

 

 

 

 

 

 

Foreign currency translation adjustments

(132,888

)

(9,764

)

392,389

 

58,582

 

(62,115

)

382,625

 

57,124

 

Comprehensive loss

(353,486

)

(564,584

)

(418,075

)

(62,417

)

(664,922

)

(982,659

)

(146,708

)

Less: Comprehensive income (loss) attributable to noncontrolling interests

(244

)

408

 

(9,799

)

(1,463

)

11

 

(9,391

)

(1,402

)

Comprehensive loss attributable to Kingsoft Cloud Holdings Limited shareholders

(353,242

)

(564,992

)

(408,276

)

(60,954

)

(1,515,047

)

(973,268

)

(145,306

)

 

 

 

 

 

 

 

 


KINGSOFT CLOUD HOLDINGS LIMITED

RECONCILIATION OF GAAP AND NON-GAAP RESULTS

(All amounts in thousands, except for percentage)

 

Three Months Ended

Six Months Ended

 

Jun 30,
2021

March 31,
2022

Jun 30,
2022

Jun 30,
2022

Jun 30,
2021

Jun 30,
2022

Jun 30,
2022

 

RMB

RMB

RMB

US$

RMB

RMB

US$

Gross profit

118,482

79,958

65,204

9,735

234,985

145,162

21,672

Adjustments:

 

 

 

 

 

 

 

– Share-based compensation expenses

2,961

3,619

3,209

479

8,460

6,828

1,019

Adjusted gross profit

121,443

83,577

68,413

10,214

243,445

151,990

22,691

 

 

 

 

 

 

 

 


KINGSOFT CLOUD HOLDINGS LIMITED

RECONCILIATION OF GAAP AND NON-GAAP RESULTS

(All amounts in thousands, except for percentage)

 

Three Months Ended

Six Months Ended

 

Jun 30,
2021

March 31,
2022

Jun 30,
2022

Jun 30,
2021

Jun 30,
2022

Gross margin

5.5

%

3.7

%

3.4

%

5.9

%

3.6

%

Adjusted gross margin

5.6

%

3.8

%

3.6

%

6.1

%

3.7

%


KINGSOFT CLOUD HOLDINGS LIMITED

RECONCILIATION OF GAAP AND NON-GAAP RESULTS

(All amounts in thousands, except for percentage)

 

Three Months Ended

Six Months Ended

 

Jun 30,
2021

March 31,
2022

Jun 30,
2022

Jun 30,
2022

Jun 30,
2021

Jun 30,
2022

Jun 30,
2022

 

RMB

RMB

RMB

US$

RMB

RMB

US$

Net Loss

(220,598

)

(554,820

)

(810,464

)

(120,999

)

(602,807

)

(1,365,284

)

(203,832

)

Adjustments:

 

 

 

 

 

 

 

– Share-based compensation expenses

76,092

 

93,182

 

113,557

 

16,954

 

199,205

 

206,739

 

30,865

 

– Foreign exchange loss (gain)

(71,277

)

18,741

 

229,237

 

34,224

 

(22,902

)

247,978

 

37,022

 

– Other gain, net

(15,357

)

12,035

 

15,931

 

2,378

 

(21,139

)

27,966

 

4,175

 

– Other expense (income), net

(4,464

)

(20,038

)

37

 

6

 

(6,390

)

(20,001

)

(2,986

)

Adjusted net loss

(235,604

)

(450,900

)

(451,702

)

(67,437

)

(454,033

)

(902,602

)

(134,756

)

Adjustments:

 

 

 

 

 

0

 

 

– Interest income

(18,927

)

(21,157

)

(17,490

)

(2,611

)

(36,673

)

(38,647

)

(5,770

)

– Interest expense

6,689

 

34,066

 

34,207

 

5,107

 

10,555

 

68,273

 

10,193

 

– Income tax expense

3,469

 

(1,670

)

(3,483

)

(520

)

6,755

 

(5,153

)

(769

)

– Depreciation and amortization

189,123

 

287,481

 

290,756

 

43,409

 

369,589

 

578,237

 

86,329

 

Adjusted EBITDA

(55,250

)

(152,180

)

(147,712

)

(22,052

)

(103,807

)

(299,892

)

(44,773

)

 

 

 

 

 

 

 

 


KINGSOFT CLOUD HOLDINGS LIMITED

RECONCILIATION OF GAAP AND NON-GAAP RESULTS

(All amounts in thousands, except for percentage)

 

Three Months Ended

Six Months Ended

 

Jun 30,
2021

March 31,
2022

Jun 30,
2022

Jun 30,
2021

Jun 30,
2022

Net loss margin

-10.1

%

-25.5

%

-42.5

%

-15.1

%

-33.5

%

Adjusted net loss margin

-10.8

%

-20.7

%

-23.7

%

-11.4

%

-22.1

%

Adjusted EBITDA Margin

-2.5

%

-7.0

%

-7.7

%

-2.6

%

-7.3

%

 

 

 

 

 

 


KINGSOFT CLOUD HOLDINGS LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

(All amounts in thousands)

 

Three Months Ended

 

Jun 30,
2021

Jun 30,
2022

Jun 30,
2022

 

RMB

RMB

US$

Net cash (used in) generated from operating activities

(263,650

)

343,607

 

51,299

 

Net cash used in investing activities

(56,366

)

(732,804

)

(109,405

)

Net cash generated (used in) from financing activities

502,448

 

(312,405

)

(46,641

)

Effect of exchange rate changes on cash, cash equivalents and restricted cash

(21,261

)

95,933

 

14,323

 

Net increase in cash, cash equivalents and restricted cash

182,432

 

(701,602

)

(104,747

)

Cash, cash equivalents and restricted cash at beginning of period

2,793,448

 

3,382,439

 

504,985

 

Cash, cash equivalents and restricted cash at end of period

2,954,619

 

2,776,770

 

414,561