Kingsoft Cloud Announces Unaudited Third Quarter 2024 Financial Results with Accelerated Revenue Growth and Robust Expansion of Gross and EBITDA profit

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GlobeNewswire 1w ago

Kingsoft Cloud Announces Unaudited Third Quarter 2024 Financial Results with Accelerated Revenue Growth and Robust Expansion of Gross and EBITDA profit - GlobeNewswire

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The increase was mainly due to the expansion in gross profit and our strict control over costs and expenses.______________________5 Non-GAAP operating loss is defined as operating loss excluding share-based compensation, impairment of long-lived assets and amortization of intangible assets and we define Non-GAAP operating loss as Non-GAAP operating loss margin as a percentage of revenues.

The decrease was mainly due to the gross profit increase and the expenses decrease explained above.Net loss was RMB1,061.1 million (US$151.2 million), compared with net loss of RMB789.7 million in the same quarter of 2023 and RMB353.7 million last quarter.

Unless otherwise noted, the translation of RMB into US$ has been made at RMB7.0176 to US$1.00, the noon buying rate in effect on September 30, 2024 as certified for customs purposes by the Federal Reserve Bank of New York.2 Non-GAAP EBITDA is defined as Non-GAAP net loss excluding interest income, interest expense, income tax expense (benefit) and depreciation and amortization, and we define Non-GAAP EBITDA margin as Non-GAAP EBITDA as a percentage of revenues.