Kingsoft Cloud Holdings Limited (KC) Q3 2025 Earnings Call Transcript
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 19 2025
0mins
Should l Buy KC?
Source: SeekingAlpha
Total Revenue RMB 2.48 billion, a year-over-year growth of 31% (up from 24% in the previous quarter). Growth attributed to both public cloud and enterprise cloud achieving year-over-year and sequential growth.
Public Cloud Revenue RMB 1.75 billion, a year-over-year increase of 49%. Growth driven by strong demand for intelligent computing cloud services and AI-related developments.
Intelligent Computing Cloud Gross Billings RMB 782 million, a year-over-year growth of 120%. Growth attributed to increased demand for AI-driven intelligent computing services.
Revenue from Xiaomi and Kingsoft Ecosystem RMB 691 million, an 84% year-over-year increase. Growth due to strengthened business cooperation and increased demand within the ecosystem.
Adjusted Gross Profit RMB 393 million, a year-over-year increase of 28%. Growth due to revenue scale expansion, increased contribution from intelligent cloud, and cost control measures.
Adjusted Operating Profit RMB 15.36 million, turning from a loss to profit. Improvement attributed to revenue growth, gross profit expansion, and expense control.
Adjusted Net Profit RMB 28.73 million, achieving a historical positive profit for the first time. Improvement due to economies of scale and cost control.
Adjusted Gross Margin 16%, up from 15% in the previous quarter. Improvement due to revenue scale expansion and cost control.
Adjusted EBITDA Margin 33%, up from 17% in the previous quarter. Improvement due to strong execution in intelligent cloud development and cost control.
Cash and Cash Equivalents RMB 3.95 billion, decreased from RMB 5.46 billion in the previous quarter. Decrease due to infrastructure investment for intelligent cloud.
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Analyst Views on KC
About KC
Kingsoft Cloud Holdings Ltd is a holding company mainly engaged in independent cloud services. The Company’s modularized cloud products comprise unified IaaS infrastructure, PaaS middleware, SaaS applications, AI capabilities and deployment services, which can be utilized to design different solutions to meet various business needs. The Company’s cloud products primarily consist of cloud computing, storage and delivery. The Company also designs industry-specific solutions covering a wide spectrum of industry verticals, including Internet, public service, healthcare, financial service and enterprise service and others. The Company also offer solutions in a holistic approach, by merging cloud solutions with dedicated customer services. The Company’s end-to-end customer services cover planning, solution development, fulfillment and deployment, as well as ongoing maintenance and upgrade. The Company mainly conducts its businesses in the domestic and overseas market.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Role of Institutional Investors: While institutional investors hold a fair stake in Kingsoft Cloud, the lack of a growth history raises concerns about potential 'crowded trades', which could lead to rapid sell-offs during market volatility.
- Insider Ownership: Insiders own less than 1% of Kingsoft Cloud Holdings, suggesting that management lacks sufficient control over company decisions, which could impact governance and strategic direction.
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- Market Trend Observation: KC's stock has experienced significant fluctuations over the past year, with the current price nearing the 52-week low, which may impact investor confidence and future trading decisions.
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- BridgeBio Initiation: Stifel initiates coverage of BridgeBio Oncology Therapeutics (BBOT) with a Buy rating and a $23 target price, indicating that the biotech company has significant room for growth in its stock price.
- Energy Fuels Upgrade: Goldman Sachs upgrades Energy Fuels (UUUU) to Buy, highlighting its ownership of the highest-grade uranium deposit in the U.S. and the White Mesa Mill, which provides a competitive edge as the only facility capable of processing both uranium and rare earth elements.
- James Hardie Upgrade: JPMorgan upgrades James Hardie Industries to Overweight from Neutral, noting that the outlook for U.S. residential new construction is in the early stages of recovery, and the stock trades at a discount to their blended price target, making it an attractive investment opportunity.
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- Earnings Beat: HCA Healthcare reported an adjusted EPS of $8.01 for Q4, surpassing the analyst consensus of $7.43, indicating robust profitability and strong market demand.
- Stock Surge: Following the earnings report, HCA's shares jumped 9.5% to $517.00 on Tuesday, reflecting investor confidence in the company's future growth prospects.
- Upgraded Guidance: The company raised its FY25 guidance above estimates, signaling a positive outlook for business development that may attract more investor interest.
- Positive Market Reaction: HCA's favorable news boosted overall market confidence in the healthcare sector, potentially leading to further gains in related stocks.
See More
Kingsoft Cloud Holdings' Individual Investors Own 50% Stake
- Shareholder Structure: Kingsoft Cloud Holdings' top 25 shareholders collectively own 49% of the company, with individual investors holding a significant 50% stake, indicating their substantial influence on key decisions that may affect future shareholder returns.
- Role of Institutional Investors: While institutional investors hold a fair stake in Kingsoft Cloud, the lack of a growth history raises concerns about potential 'crowded trades', which could lead to rapid sell-offs during market volatility.
- Insider Ownership: Insiders own less than 1% of Kingsoft Cloud Holdings, suggesting that management lacks sufficient control over company decisions, which could impact governance and strategic direction.
- Public Ownership Proportion: Public investors, including retail investors, own 50% of Kingsoft Cloud Holdings, granting them significant voting power on major decisions such as dividend policies and board appointments.
See More
Travere Therapeutics Issues 2026 Outlook, Shares Plunge 28.2%
- Sales Forecast Downgrade: Travere Therapeutics expects U.S. net product sales of $410 million for 2025 and $127 million for Q4 2026, indicating pressure on future revenue growth that could undermine investor confidence.
- Clinical Trial Restart: The company plans to restart the Phase 3 HARMONY study in Q1 2026, aiming to advance product development, but this may not alleviate the short-term stock price decline.
- Severe Market Reaction: Shares of Travere Therapeutics plummeted 28.2% to $24.50 in pre-market trading, reflecting a pessimistic outlook from the market that may lead investors to reassess their strategies.
- Other Stock Volatility: Lulu’s Fashion Lounge Holdings surged 79% on acquisition news but fell 10.4% in pre-market trading, highlighting the high volatility in market sentiment that could impact the overall investment landscape.
See More
KC Stock Fluctuation: 52-Week Low of $9.12 and High of $22.26
- Stock Price Analysis: KC's 52-week low is $9.12 per share, with a high of $22.26, and the last trade at $13.35 indicates volatility within this range, reflecting market caution regarding its future performance.
- Market Trend Observation: KC's stock has experienced significant fluctuations over the past year, with the current price nearing the 52-week low, which may impact investor confidence and future trading decisions.
- Technical Indicator Reference: KC's stock price has crossed above the 200-day moving average, suggesting a potential short-term rebound trend that has attracted some investor interest, although overall market sentiment remains cautious.
- Investor Sentiment Assessment: Despite the considerable volatility in KC's stock price over the past 52 weeks, the current price has not surpassed the high point, prompting investors to monitor market dynamics to evaluate future investment opportunities.
See More
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- Acquisition Proposal: Great Dane's submission of a non-binding acquisition letter to Bark Inc has led to a 19.9% surge in Bark's pre-market share price to $0.74, indicating strong market enthusiasm for the potential acquisition.
- Market Reaction: The significant rise in Bark Inc's stock price reflects investor optimism regarding the company's future, which may also attract more investor attention and enhance market liquidity for the stock.
- Industry Dynamics: In pre-market trading, Signing Day Sports Inc saw a 43.7% increase, while Ping An Biomedical Co Ltd rose 34.3%, highlighting strong market interest in the biotech and sports sectors, which could influence Bark Inc's market positioning.
- Investor Confidence: The rebound in Bark Inc's stock price may bolster investor confidence in the company, especially after recent market volatility, as the acquisition proposal provides new momentum for future growth.
See More
