Kingsoft Cloud Holdings Limited announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2024. For Q4 2024, total revenues reached RMB2,232.1 million (US$305.8 million), an increase of 29.6% year-over-year.
A significant milestone was achieved as the company recorded a positive non-GAAP operating profit of RMB24.4 million (US$3.3 million) for the first time since its inception in 2012. Non-GAAP EBITDA surged to RMB359.7 million (US$49.3 million), compared to a loss of RMB27.7 million in Q4 2023, with a non-GAAP EBITDA margin of 16.1%.
For the full fiscal year 2024, total revenues increased by 10.5% to RMB7,785.2 million (US$1,066.6 million). The gross billing of the AI business increased by approximately 500% year-over-year to RMB474 million in Q4 2024, accounting for 34% of public cloud revenue. Revenue from the Xiaomi and Kingsoft Group increased by 76% year-over-year in Q4 2024, further validating the ecosystem strategy.
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