Kingsoft Cloud Holdings Limited announced its unaudited financial results for the first quarter ended March 31, 2025. The company reported total revenues of RMB1,970.0 million (US$271.5 million), representing a 10.9% increase year-over-year from RMB1,775.68 million in the same period of 2024.
The year-over-year revenue growth was primarily driven by increased contributions from the Xiaomi and Kingsoft Ecosystem, as well as from artificial intelligence (AI) customers. Billing for AI services increased by 228% year-over-year to RMB525 million (US$73 million), accounting for 39% of the company's public cloud services revenue.
Despite the revenue growth, Kingsoft Cloud reported a net loss of RMB313.93 million (US$44 million) for the quarter, which was narrower than the RMB359.41 million loss in Q1 2024. The company's management emphasized its confidence and commitment to AI-related investments and high-quality, sustainable business development.
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