CMCM 6-K
Cheetah Mobile Inc. (CMCM)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of September 2026
Commission File Number: 001-36427
CHEETAH MOBILE INC.
Building No. 11
Wandong Science and Technology Cultural Innovation Park
No.7 Sanjianfangnanli, Chaoyang District
Beijing 100024
People’s Republic of China
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F Form 40-F
Second quarter 2026 Unaudited Consolidated Financial Results
On September 11, 2026, Cheetah Mobile Inc. ("Cheetah Mobile" or the "Company") issued a press release announcing its unaudited consolidated financial results for the quarter ended June 30, 2026 and the press release is attached as Exhibit 99.1.
Recent Corporate Updates
Increase in Ownership Interest of Beijing OrionStar
In August 2026, Cheetah Mobile Inc. (the “Company”), through its wholly-owned subsidiaries, acquired the remaining partnership interests in Gongqingcheng Orion Industrial Investment Center (Limited Partnership) ("Orion Partnership"), comprising a 1% general partnership interest and a 49.5% limited partnership interest, for aggregate cash consideration of approximately RMB90.8 million. Prior to the transaction, the Company held a 49.5% limited partnership interest in Orion Partnership through a wholly-owned subsidiary. Following the completion of the transaction, the Company holds 100% of the partnership interests in Orion Partnership through its wholly-owned subsidiaries.
Orion Partnership directly holds an equity interest in Beijing OrionStar Technology Co., Ltd. ("Beijing OrionStar"). Following the Company’s acquisition of the remaining partnership interests in Orion Partnership, the Company's aggregate equity interest in Beijing OrionStar increased from approximately 73.95% to approximately 75.83%.
Disposal of an Equity Investment
On September 11, 2026, the Company entered into a share repurchase agreement to dispose of its entire 36.0% equity interest in a company that mainly engages in the gaming-related business, for an aggregate cash consideration of approximately US$41.3 million. The closing of the transaction is expected to occur in September 2026, subject to the satisfaction of customary closing conditions.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
CHEETAH MOBILE INC. |
|
|
|
By: |
/s/ Thomas Jintao Ren |
Name: |
Thomas Jintao Ren |
Title: |
Chief Financial Officer |
Date: September 11, 2026
Exhibit 99.1
Cheetah Mobile Announces Second Quarter 2026
Unaudited Consolidated Financial Results
BEIJING, September 11, 2026 /PRNewswire/ -- Cheetah Mobile Inc. ("Cheetah Mobile" or the "Company") (NYSE: CMCM), a China-based IT company with a commitment to AI innovation, today announced its unaudited consolidated financial results for the quarter ended June 30, 2026.
Financial Highlights
1
Balance Sheet
Management Commentary
Fu Sheng, Chief Executive Officer of Cheetah Mobile, commented: "During the second quarter, we continued to evolve our business mix, with revenue from services of cloud and AI infrastructure within Global Enterprise Services growing 83.1% year over year, driven by demand from enterprises expanding overseas for cloud and AI infrastructure services, accounting for 22.2% total revenues in the quarter. Gross billings[1] from services of cloud and AI infrastructure exceeded RMB500 million during the quarter, compared with about RMB200 million in the same period last year and about RMB300 million in the previous quarter, reflecting the rapid expansion of customer demand and business scale. Robotics and others revenue increased 72.5% year over year and accounted for 20.5% of total revenues in the quarter, with new initiatives such as smart mobility beginning to contribute revenue. The growth of these AI-related businesses underscores the progress of our AI-driven transformation.
Internet Services remained a stable foundation for our business. Internet value-added services revenue increased both year over year and sequentially and represented 77.6% of segment revenue. While advertising agency services revenue within Global Enterprise Services remained under pressure, growth in services of cloud and AI infrastructure and Robotics and others supported the Company’s return to sequential revenue growth while strengthening our foundation for future growth."
[1] Gross billings from services of cloud and AI infrastructure is an operating metric representing the aggregate monetary value of customers’ consumption of public cloud resources and AI model tokens provided or arranged by the Company during the relevant period.
Thomas Ren, Chief Financial Officer of Cheetah Mobile, commented: "Second-quarter revenue increased 2.7% sequentially. Operating loss was RMB33.6 million, compared with RMB28.3 million in the previous quarter, while non-GAAP operating loss remained relatively stable at RMB25.6 million, compared with RMB22.5 million in the previous quarter.
The sequential movement in non-GAAP operating loss reflected higher adjusted operating profit in Internet Services, offset by lower adjusted operating profit in Global Enterprise Services resulting from lower advertising agency services revenue, as well as a wider adjusted operating loss in Robotics and others. Adjusted operating profit from Internet Services increased 14.2% year over year and 67.2% sequentially, with adjusted operating margin improving to 19.4%. Services of cloud and AI infrastructure continued to scale rapidly. However, the growth of cloud and AI infrastructure services partially offset the negative impact of lower advertising agency services revenue on the segment’s adjusted operating profit. We ended the quarter with US$187.3 million in cash and cash equivalents, providing us with the flexibility to invest prudently in our AI and robotics businesses."
2
Second Quarter 2026 Financial Results
Total revenues decreased 9.9% year over year and increased 2.7% quarter over quarter to RMB266.1 million (US$39.2 million).
Operating loss was RMB33.6 million (US$5.0 million), compared with RMB11.1 million in the same period last year and RMB28.3 million in the first quarter of 2026.
Non-GAAP operating loss was RMB25.6 million (US$3.8 million), compared with RMB2.1 million in the same period last year and RMB22.5 million in the first quarter of 2026. The year-over-year increase primarily reflected lower advertising agency services revenue within the Global Enterprise Services segment.
3
Conference Call Information
Cheetah Mobile's management will hold an earnings conference call at 11:30 AM on Friday, September 11, 2026, Beijing Time (11:30 PM on Thursday, September 10, 2026, U.S. Eastern Time).
Main Conference:
Tencent Meeting ID: 175-882-665
Meeting Link: https://cmcm.meeting.tencent.com/dm/3QuXIZPgSezq
Dial-in Numbers:
United States: +1 4153389272
Mainland China: +86 (0)755 36550000
Hong Kong: +852 30088359
English Interpretation:
Tencent Meeting ID: 845-329-676
Meeting Link: https://cmcm.meeting.tencent.com/dm/t07drnN5B7fM
Dial-in Numbers:
United States: +1 4153389272
Mainland China: +86 (0)755 36550000
Hong Kong Toll Free: +852 30088359
Exchange Rate
Unless otherwise noted, all translations from Renminbi to U.S. dollars were made at a rate of RMB6.7851 to US$1.00, the exchange rate in effect as of June 30, 2026, as set forth in the H.10 statistical release of the Federal Reserve Board. Such translations should not be construed as representations that RMB amounts could be converted into U.S. dollars at that rate or any other rate.
About Cheetah Mobile Inc.
Cheetah Mobile is a China-based IT company with a commitment to AI innovation. It has developed and launched a diversified suite of software products for PCs and mobile devices, designed to address users’ needs in document processing, system optimization, image editing and web browsing, AI agent products, among others. Cheetah Mobile provides advertising services to advertisers worldwide, value-added services including the sale of premium membership to its users, services of cloud and AI infrastructure to companies globally, as well as robotic products to international clients. At the same time, it actively engages in research and development of advanced technologies to empower its products and services. Cheetah Mobile has been listed on the New York Stock Exchange since May 2014.
Safe Harbor Statement
This press release contains forward-looking statements. These statements, including management quotes and business outlook, constitute forward-looking statements under the
4
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. Such statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in the forward-looking statements, including the Company's growth strategies, ability to retain and increase its user base, expand its offerings, monetize its platform, and future business development, financial condition and results of operations; competition; expected changes in revenues and expenses; and general economic and business conditions globally and in China. Further information regarding these and other risks is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement, except as required by law.
Use of Non-GAAP Financial Measures
This release contains non-GAAP financial measures, including but not limited to:
5
The Company reviews these non-GAAP financial measures together with GAAP financial measures to obtain a better understanding of its operating performance. It uses the non-GAAP financial measures for planning, forecasting and measuring results against the forecast. The Company believes that non-GAAP financial measures are useful supplemental information for investors and analysts to assess its operating performance without the effect of share-based compensation expenses, amortization of intangible assets resulting from business acquisitions, which have been and will continue to be significant recurring expenses in its business, as well as impairment of goodwill and intangible assets resulting from business acquisitions. However, the use of non-GAAP financial measures has material limitations as an analytical tool. One of the limitations of using non-GAAP financial measures is that they do not include all items that impact the Company’s net income for the period. In addition, because non-GAAP financial measures are not measured in the same manner by all companies, they may not be comparable to other similarly titled measures used by other companies. In light of the foregoing limitations, you should not consider non-GAAP financial measure in isolation from or as an alternative to the financial measure prepared in accordance with U.S. GAAP. For more information on these non-GAAP financial measures, please see the tables captioned “Cheetah Mobile Inc. Reconciliation of GAAP and non-GAAP Results”.
Investor Relations Contact
Helen Jing Zhu
Cheetah Mobile Inc.
Tel: +86 13811591550
Email: [email protected]
6
CHEETAH MOBILE INC.
Condensed Consolidated Balance Sheets
(Unaudited, amounts in thousands of Renminbi ("RMB") and US dollars ("US$"))
|
As of |
||||
|
December 31, 2025 |
|
June 30, 2026 |
||
|
RMB |
|
RMB |
|
USD |
ASSETS |
|
|
|
|
|
Current assets: |
|
|
|
|
|
Cash and cash equivalents |
1,506,625 |
|
1,270,969 |
|
187,318 |
Short-term investments |
9,527 |
|
445 |
|
66 |
Accounts receivable, net |
468,058 |
|
689,708 |
|
101,650 |
Prepayments and other current assets, net |
1,154,774 |
|
1,170,431 |
|
172,498 |
Due from related parties, net |
94,821 |
|
134,754 |
|
19,860 |
Total current assets |
3,233,805 |
|
3,266,307 |
|
481,392 |
|
|
|
|
|
|
Non-current assets: |
|
|
|
|
|
Property and equipment, net |
40,238 |
|
40,730 |
|
6,003 |
Operating lease right-of-use assets |
16,833 |
|
17,828 |
|
2,628 |
Intangible assets, net |
54,069 |
|
48,191 |
|
7,102 |
Goodwill |
460,034 |
|
460,034 |
|
67,801 |
Long-term investments |
688,459 |
|
600,054 |
|
88,437 |
Deferred tax assets |
112,913 |
|
117,674 |
|
17,343 |
Other non-current assets |
77,521 |
|
89,403 |
|
13,176 |
Total non-current assets |
1,450,067 |
|
1,373,914 |
|
202,490 |
|
|
|
|
|
|
Total assets |
4,683,872 |
|
4,640,221 |
|
683,882 |
|
|
|
|
|
|
LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY |
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
Bank Loans |
- |
|
2,900 |
|
427 |
Accounts payable |
211,689 |
|
413,198 |
|
60,898 |
Accrued expenses and other current liabilities |
2,264,659 |
|
2,163,995 |
|
318,933 |
Due to related parties |
18,613 |
|
25,199 |
|
3,714 |
Income tax payable |
54,430 |
|
56,356 |
|
8,306 |
Total current liabilities |
2,549,391 |
|
2,661,648 |
|
392,278 |
|
|
|
|
|
|
Non-current liabilities: |
|
|
|
|
|
Deferred tax liabilities |
21,711 |
|
20,555 |
|
3,029 |
Other non-current liabilities |
154,422 |
|
155,175 |
|
22,870 |
Total non-current liabilities |
176,133 |
|
175,730 |
|
25,899 |
|
|
|
|
|
|
Total liabilities |
2,725,524 |
|
2,837,378 |
|
418,177 |
|
|
|
|
|
|
Mezzanine equity: |
|
|
|
|
|
Redeemable noncontrolling interests |
197,560 |
|
200,903 |
|
29,609 |
|
|
|
|
|
|
Shareholders’ equity: |
|
|
|
|
|
Ordinary shares |
254 |
|
257 |
|
38 |
Additional paid-in capital |
2,736,117 |
|
2,739,942 |
|
403,817 |
Accumulated deficit |
(1,490,947) |
|
(1,603,338) |
|
(236,303) |
Accumulated other comprehensive income |
362,245 |
|
297,692 |
|
43,874 |
Total Cheetah Mobile Inc. shareholders’ equity |
1,607,669 |
|
1,434,553 |
|
211,426 |
Noncontrolling interests |
153,119 |
|
167,387 |
|
24,670 |
|
|
|
|
|
|
Total shareholders’ equity |
1,760,788 |
|
1,601,940 |
|
236,096 |
|
|
|
|
|
|
Total liabilities, mezzanine equity and shareholders’ equity |
4,683,872 |
|
4,640,221 |
|
683,882 |
7
CHEETAH MOBILE INC.
Condensed Consolidated Statements of Comprehensive Loss
(Unaudited, amounts in thousands of Renminbi ("RMB") and US dollars ("US$"), except for number of shares and per share(or ADS) data)
|
|
For The Three Months Ended |
|
For The Six Months Ended |
||||||||
|
|
June 30, 2025 |
|
June 30, 2026 |
|
June 30, 2026 |
|
June 30, 2025 |
|
June 30, 2026 |
|
June 30, 2026 |
|
|
RMB |
|
RMB |
|
USD |
|
RMB |
|
RMB |
|
USD |
Revenues |
|
295,218 |
|
266,115 |
|
39,220 |
|
554,224 |
|
525,108 |
|
77,391 |
Internet Services |
|
157,837 |
|
130,474 |
|
19,229 |
|
316,978 |
|
265,479 |
|
39,127 |
Global Enterprise Services |
|
105,788 |
|
81,134 |
|
11,958 |
|
187,085 |
|
153,884 |
|
22,680 |
Robotics and others |
|
31,593 |
|
54,507 |
|
8,033 |
|
50,161 |
|
105,745 |
|
15,584 |
Cost of revenues (a) |
|
(70,426) |
|
(97,490) |
|
(14,368) |
|
(139,931) |
|
(189,921) |
|
(27,991) |
Gross profit |
|
224,792 |
|
168,625 |
|
24,852 |
|
414,293 |
|
335,187 |
|
49,400 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating income and expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
Research and development (a) |
|
(67,083) |
|
(58,764) |
|
(8,661) |
|
(128,327) |
|
(116,486) |
|
(17,168) |
Selling and marketing (a) |
|
(102,434) |
|
(74,654) |
|
(11,003) |
|
(207,272) |
|
(146,368) |
|
(21,572) |
General and administrative (a) |
|
(66,627) |
|
(68,735) |
|
(10,130) |
|
(119,251) |
|
(134,871) |
|
(19,878) |
Other operating income/(expense) |
|
289 |
|
(67) |
|
(10) |
|
2,959 |
|
655 |
|
97 |
Total operating income and expenses |
|
(235,855) |
|
(202,220) |
|
(29,804) |
|
(451,891) |
|
(397,070) |
|
(58,521) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating loss |
|
(11,063) |
|
(33,595) |
|
(4,952) |
|
(37,598) |
|
(61,883) |
|
(9,121) |
Other income/(expenses): |
|
|
|
|
|
|
|
|
|
|
|
|
Interest income, net |
|
9,980 |
|
3,201 |
|
472 |
|
15,585 |
|
6,623 |
|
976 |
Foreign exchange gains |
|
6,349 |
|
20,764 |
|
3,060 |
|
7,999 |
|
40,016 |
|
5,898 |
Other expense, net |
|
(17,844) |
|
(68,707) |
|
(10,126) |
|
(21,853) |
|
(67,386) |
|
(9,931) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss before income taxes |
|
(12,578) |
|
(78,337) |
|
(11,546) |
|
(35,867) |
|
(82,630) |
|
(12,178) |
Income tax expenses |
|
(3,865) |
|
(8,199) |
|
(1,208) |
|
(8,685) |
|
(15,822) |
|
(2,332) |
Net loss |
|
(16,443) |
|
(86,536) |
|
(12,754) |
|
(44,552) |
|
(98,452) |
|
(14,510) |
Less: net income attributable to noncontrolling interests |
|
6,200 |
|
8,375 |
|
1,234 |
|
11,448 |
|
13,939 |
|
2,054 |
Net loss attributable to Cheetah Mobile shareholders |
|
(22,643) |
|
(94,911) |
|
(13,988) |
|
(56,000) |
|
(112,391) |
|
(16,564) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss per share |
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
(0.0162) |
|
(0.0619) |
|
(0.0091) |
|
(0.0397) |
|
(0.0745) |
|
(0.0110) |
Diluted |
|
(0.0163) |
|
(0.0620) |
|
(0.0091) |
|
(0.0398) |
|
(0.0747) |
|
(0.0110) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss per ADS |
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
(0.8116) |
|
(3.0927) |
|
(0.4550) |
|
(1.9861) |
|
(3.7245) |
|
(0.5500) |
Diluted |
|
(0.8152) |
|
(3.1003) |
|
(0.4550) |
|
(1.9923) |
|
(3.7337) |
|
(0.5500) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of shares outstanding |
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
1,518,381,903 |
|
1,553,878,937 |
|
1,553,878,937 |
|
1,517,084,516 |
|
1,552,927,613 |
|
1,552,927,613 |
Diluted |
|
1,518,381,903 |
|
1,553,878,937 |
|
1,553,878,937 |
|
1,517,084,516 |
|
1,552,927,613 |
|
1,552,927,613 |
Weighted average number of ADSs outstanding |
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
30,367,638 |
|
31,077,579 |
|
31,077,579 |
|
30,341,690 |
|
31,058,552 |
|
31,058,552 |
Diluted |
|
30,367,638 |
|
31,077,579 |
|
31,077,579 |
|
30,341,690 |
|
31,058,552 |
|
31,058,552 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Other comprehensive loss , net of tax of nil |
|
|
|
|
|
|
|
|
|
|
|
|
Foreign currency translation adjustments |
|
(7,643) |
|
(31,282) |
|
(4,610) |
|
(7,915) |
|
(62,442) |
|
(9,203) |
Unrealized gains/(loss) on available-for-sale securities, net |
|
188 |
|
(4,348) |
|
(641) |
|
2,848 |
|
(3,763) |
|
(555) |
Other comprehensive loss |
|
(7,455) |
|
(35,630) |
|
(5,251) |
|
(5,067) |
|
(66,205) |
|
(9,758) |
Total comprehensive loss |
|
(23,898) |
|
(122,166) |
|
(18,005) |
|
(49,619) |
|
(164,657) |
|
(24,268) |
Less: Total comprehensive income attributable to noncontrolling interests |
|
7,113 |
|
7,556 |
|
1,114 |
|
13,775 |
|
12,287 |
|
1,811 |
Total comprehensive loss attributable to Cheetah Mobile shareholders |
|
(31,011) |
|
(129,722) |
|
(19,119) |
|
(63,394) |
|
(176,944) |
|
(26,079) |
|
|
For The Three Months Ended |
|
For The Six Months Ended |
||||||||
|
|
June 30, 2025 |
|
June 30, 2026 |
|
June 30, 2026 |
|
June 30, 2025 |
|
June 30, 2026 |
|
June 30, 2026 |
(a) Share-based compensation expenses |
|
RMB |
|
RMB |
|
USD |
|
RMB |
|
RMB |
|
USD |
Cost of revenues |
|
5 |
|
- |
|
- |
|
10 |
|
- |
|
- |
Research and development |
|
62 |
|
1,197 |
|
176 |
|
358 |
|
2,129 |
|
314 |
Selling and marketing |
|
229 |
|
521 |
|
77 |
|
300 |
|
1,026 |
|
151 |
General and administrative |
|
2,065 |
|
3,953 |
|
583 |
|
7,277 |
|
5,997 |
|
884 |
Total |
|
2,361 |
|
5,671 |
|
836 |
|
7,945 |
|
9,152 |
|
1,349 |
8
CHEETAH MOBILE INC.
Reconciliation of GAAP and Non-GAAP Results
(Unaudited, amounts in thousands of Renminbi ("RMB") and US dollars ("US$"), except for per share data )
|
For The Three Months Ended June 30, 2026 |
|
For The Six Months Ended June 30, 2026 |
||||||||
|
GAAP |
Share-based |
Amortization of |
Non-GAAP |
|
GAAP |
Share-based |
Amortization of |
Non-GAAP |
||
|
Result |
Compensation |
intangible assets* |
Result |
|
Result |
Compensation |
intangible assets* |
Result |
||
|
RMB |
RMB |
RMB |
RMB |
USD |
|
RMB |
RMB |
RMB |
RMB |
USD |
Revenues |
266,115 |
- |
- |
266,115 |
39,220 |
|
525,108 |
- |
- |
525,108 |
77,391 |
Cost of revenues |
(97,490) |
- |
- |
(97,490) |
(14,368) |
|
(189,921) |
- |
- |
(189,921) |
(27,991) |
Gross profit |
168,625 |
- |
- |
168,625 |
24,852 |
|
335,187 |
- |
- |
335,187 |
49,400 |
|
|
|
|
|
|
|
|
|
|
|
|
Research and development |
(58,764) |
1,197 |
232 |
(57,335) |
(8,451) |
|
(116,486) |
2,129 |
463 |
(113,894) |
(16,786) |
Selling and marketing |
(74,654) |
521 |
2,071 |
(72,062) |
(10,621) |
|
(146,368) |
1,026 |
4,141 |
(141,201) |
(20,811) |
General and administrative |
(68,735) |
3,953 |
- |
(64,782) |
(9,547) |
|
(134,871) |
5,997 |
- |
(128,874) |
(18,994) |
Other operating (expense)/income, net |
(67) |
- |
- |
(67) |
(10) |
|
655 |
- |
- |
655 |
97 |
Total operating income and expenses |
(202,220) |
5,671 |
2,303 |
(194,246) |
(28,629) |
|
(397,070) |
9,152 |
4,604 |
(383,314) |
(56,494) |
|
|
|
|
|
|
|
|
|
|
|
|
Operating loss |
(33,595) |
5,671 |
2,303 |
(25,621) |
(3,777) |
|
(61,883) |
9,152 |
4,604 |
(48,127) |
(7,094) |
Net loss attributable to Cheetah Mobile shareholders |
(94,911) |
5,671 |
2,303 |
(86,937) |
(12,813) |
|
(112,391) |
9,152 |
4,604 |
(98,635) |
(14,537) |
|
|
|
|
|
|
|
|
|
|
|
|
Diluted losses per ordinary share (RMB) |
(0.0620) |
0.0036 |
0.0015 |
(0.0569) |
|
|
(0.0747) |
0.0059 |
0.0030 |
(0.0658) |
|
Diluted losses per ADS (RMB) |
(3.1003) |
0.1800 |
0.0753 |
(2.8450) |
|
|
(3.7337) |
0.2950 |
0.1487 |
(3.2900) |
|
Diluted losses per ADS (USD) |
(0.4550) |
0.0265 |
0.0111 |
(0.4193) |
|
|
(0.5500) |
0.0435 |
0.0219 |
(0.4849) |
|
|
For The Three Months Ended June 30, 2025 |
|
For The Six Months Ended June 30, 2025 |
||||||
|
GAAP |
Share-based |
Amortization of |
Non-GAAP |
|
GAAP |
Share-based |
Amortization of |
Non-GAAP |
|
Result |
Compensation |
intangible assets* |
Result |
|
Result |
Compensation |
intangible assets* |
Result |
|
RMB |
RMB |
RMB |
RMB |
|
RMB |
RMB |
RMB |
RMB |
Revenues |
295,218 |
- |
- |
295,218 |
|
554,224 |
- |
- |
554,224 |
Cost of revenues |
(70,426) |
5 |
- |
(70,421) |
|
(139,931) |
10 |
- |
(139,921) |
Gross profit |
224,792 |
5 |
- |
224,797 |
|
414,293 |
10 |
- |
414,303 |
|
|
|
|
|
|
|
|
|
|
Research and development |
(67,083) |
62 |
6,156 |
(60,865) |
|
(128,327) |
358 |
12,312 |
(115,657) |
Selling and marketing |
(102,434) |
229 |
469 |
(101,736) |
|
(207,272) |
300 |
938 |
(206,034) |
General and administrative |
(66,627) |
2,065 |
- |
(64,562) |
|
(119,251) |
7,277 |
- |
(111,974) |
Other operating income, net |
289 |
- |
- |
289 |
|
2,959 |
- |
- |
2,959 |
Total operating income and expenses |
(235,855) |
2,356 |
6,625 |
(226,874) |
|
(451,891) |
7,935 |
13,250 |
(430,706) |
|
|
|
|
|
|
|
|
|
|
Operating loss |
(11,063) |
2,361 |
6,625 |
(2,077) |
|
(37,598) |
7,945 |
13,250 |
(16,403) |
Net loss attributable to Cheetah Mobile shareholders |
(22,643) |
2,361 |
6,625 |
(13,657) |
|
(56,000) |
7,945 |
13,250 |
(34,805) |
|
|
|
|
|
|
|
|
|
|
Diluted losses per ordinary share (RMB) |
(0.0163) |
0.0016 |
0.0043 |
(0.0104) |
|
(0.0398) |
0.0052 |
0.0086 |
(0.0260) |
Diluted losses per ADS (RMB) |
(0.8152) |
0.0800 |
0.2152 |
(0.5200) |
|
(1.9923) |
0.2600 |
0.4323 |
(1.3000) |
* This represents amortization of intangible assets resulting from business acquisitions.
9
CHEETAH MOBILE INC.
Information about Segment
(Unaudited, amounts in thousands of Renminbi ("RMB") and US dollars ("US$"), except for percentage)
|
|
For The Three Months Ended June 30, 2026 |
|
For The Six Months Ended June 30, 2026 |
||||||||||||||||
|
|
Internet Services |
|
Global Enterprise Services |
|
Robotics and others |
|
Consolidated |
|
Internet Services |
|
Global Enterprise Services |
|
Robotics and others |
|
Consolidated |
||||
|
|
RMB |
|
RMB |
|
RMB |
|
RMB |
|
USD |
|
RMB |
|
RMB |
|
RMB |
|
RMB |
|
USD |
Revenues from external customers |
|
130,474 |
|
81,134 |
|
54,507 |
|
266,115 |
|
39,220 |
|
265,479 |
|
153,884 |
|
105,745 |
|
525,108 |
|
77,391 |
Inter-segment revenues |
|
347 |
|
13,324 |
|
- |
|
13,671 |
|
2,015 |
|
347 |
|
24,454 |
|
- |
|
24,801 |
|
3,655 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment revenue |
|
130,821 |
|
94,458 |
|
54,507 |
|
279,786 |
|
41,235 |
|
265,826 |
|
178,338 |
|
105,745 |
|
549,909 |
|
81,046 |
Elimination of inter-segment revenue |
|
|
|
|
|
|
|
(13,671) |
|
(2,015) |
|
|
|
|
|
|
|
(24,801) |
|
(3,655) |
Consolidated Revenues |
|
|
|
|
|
|
|
266,115 |
|
39,220 |
|
|
|
|
|
|
|
525,108 |
|
77,391 |
Operating Costs and expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenues(i) |
|
31,081 |
|
40,373 |
|
36,616 |
|
|
|
|
|
60,238 |
|
84,313 |
|
63,074 |
|
|
|
|
Selling and marketing(i) |
|
33,373 |
|
17,727 |
|
19,038 |
|
|
|
|
|
73,022 |
|
26,907 |
|
38,785 |
|
|
|
|
Research and development(i) |
|
29,325 |
|
1,050 |
|
28,640 |
|
|
|
|
|
58,317 |
|
1,428 |
|
55,782 |
|
|
|
|
Other segment items(i) |
|
11,641 |
|
25,959 |
|
4,174 |
|
|
|
|
|
33,652 |
|
42,588 |
|
8,935 |
|
|
|
|
Adjusted operating income/(losses) |
|
25,401 |
|
9,349 |
|
(33,961) |
|
789 |
|
116 |
|
40,597 |
|
23,102 |
|
(60,831) |
|
2,868 |
|
423 |
Unallocated amounts-share based compensations |
|
|
|
|
|
|
|
5,671 |
|
836 |
|
|
|
|
|
|
|
9,152 |
|
1,349 |
Unallocated amounts-corporate expense |
|
|
|
|
|
|
|
28,713 |
|
4,232 |
|
|
|
|
|
|
|
55,599 |
|
8,195 |
Operating loss |
|
|
|
|
|
|
|
(33,595) |
|
(4,952) |
|
|
|
|
|
|
|
(61,883) |
|
(9,121) |
Reconciliation of segment profit/(loss) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income, net |
|
|
|
|
|
|
|
3,201 |
|
472 |
|
|
|
|
|
|
|
6,623 |
|
976 |
Foreign exchange gains, net |
|
|
|
|
|
|
|
20,764 |
|
3,060 |
|
|
|
|
|
|
|
40,016 |
|
5,898 |
Other expense, net |
|
|
|
|
|
|
|
(68,707) |
|
(10,126) |
|
|
|
|
|
|
|
(67,386) |
|
(9,931) |
Loss before income taxes |
|
|
|
|
|
|
|
(78,337) |
|
(11,546) |
|
|
|
|
|
|
|
(82,630) |
|
(12,178) |
|
|
For The Three Months Ended June 30, 2025 |
|
For The Six Months Ended June 30, 2025 |
||||||||||||
|
|
Internet Services |
|
Global Enterprise Services |
|
Robotics and others |
|
Consolidated |
|
Internet Services |
|
Global Enterprise Services |
|
Robotics and others |
|
Consolidated |
|
|
RMB |
|
RMB |
|
RMB |
|
RMB |
|
RMB |
|
RMB |
|
RMB |
|
RMB |
Revenues from external customers |
|
157,837 |
|
105,788 |
|
31,593 |
|
295,218 |
|
316,978 |
|
187,085 |
|
50,161 |
|
554,224 |
Inter-segment revenues |
|
- |
|
8,982 |
|
- |
|
8,982 |
|
- |
|
17,503 |
|
- |
|
17,503 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment revenue |
|
157,837 |
|
114,770 |
|
31,593 |
|
304,200 |
|
316,978 |
|
204,588 |
|
50,161 |
|
571,727 |
Elimination of inter-segment revenue |
|
|
|
|
|
|
|
(8,982) |
|
|
|
|
|
|
|
(17,503) |
Consolidated Revenues |
|
|
|
|
|
|
|
295,218 |
|
|
|
|
|
|
|
554,224 |
Operating Costs and expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenues(i) |
|
26,315 |
|
29,119 |
|
22,046 |
|
|
|
49,307 |
|
57,436 |
|
46,532 |
|
|
Selling and marketing(i) |
|
62,119 |
|
19,501 |
|
17,843 |
|
|
|
129,615 |
|
34,283 |
|
37,874 |
|
|
Research and development(i) |
|
33,409 |
|
1,911 |
|
31,752 |
|
|
|
66,252 |
|
3,170 |
|
58,131 |
|
|
Other segment items(i) |
|
13,744 |
|
15,841 |
|
12,626 |
|
|
|
24,947 |
|
19,238 |
|
22,971 |
|
|
Adjusted operating income/(losses) |
|
22,250 |
|
48,398 |
|
(52,674) |
|
17,974 |
|
46,857 |
|
90,461 |
|
(115,347) |
|
21,971 |
Unallocated amounts-share based compensations |
|
|
|
|
|
|
|
2,361 |
|
|
|
|
|
|
|
7,945 |
Unallocated amounts-corporate expense |
|
|
|
|
|
|
|
26,676 |
|
|
|
|
|
|
|
51,624 |
Operating loss |
|
|
|
|
|
|
|
(11,063) |
|
|
|
|
|
|
|
(37,598) |
Reconciliation of segment profit/(loss) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income, net |
|
|
|
|
|
|
|
9,980 |
|
|
|
|
|
|
|
15,585 |
Foreign exchange gains, net |
|
|
|
|
|
|
|
6,349 |
|
|
|
|
|
|
|
7,999 |
Other expense, net |
|
|
|
|
|
|
|
(17,844) |
|
|
|
|
|
|
|
(21,853) |
Loss before income taxes |
|
|
|
|
|
|
|
(12,578) |
|
|
|
|
|
|
|
(35,867) |
(i) Share-based compensations and certain corporate expenses were not allocated to segments. Other segment items include general and administrative expenses and other operating expenses allocated to the respective segments.
10
CHEETAH MOBILE INC.
Reconciliation from Net Loss Attributable to Cheetah Mobile Shareholders to Adjusted EBITDA (Non-GAAP)
(Unaudited, amounts in thousands of Renminbi ("RMB") and US dollars ("US$"))
|
|
For The Three Months Ended |
|
For The Six Months Ended |
||||||||
|
|
June 30, 2025 |
|
June 30, 2026 |
|
June 30, 2026 |
|
June 30, 2025 |
|
June 30, 2026 |
|
June 30, 2026 |
|
|
RMB |
|
RMB |
|
USD |
|
RMB |
|
RMB |
|
USD |
Net loss attributable to Cheetah Mobile shareholders |
|
(22,643) |
|
(94,911) |
|
(13,988) |
|
(56,000) |
|
(112,391) |
|
(16,564) |
Add: |
|
|
|
|
|
|
|
|
|
|
|
|
Income tax expenses |
|
3,865 |
|
8,199 |
|
1,208 |
|
8,685 |
|
15,822 |
|
2,332 |
Interest income, net |
|
(9,980) |
|
(3,201) |
|
(472) |
|
(15,585) |
|
(6,623) |
|
(976) |
Depreciation and other amortization |
|
10,757 |
|
6,969 |
|
1,027 |
|
20,539 |
|
13,433 |
|
1,980 |
Net income attributable to noncontrolling interests |
|
6,200 |
|
8,375 |
|
1,234 |
|
11,448 |
|
13,939 |
|
2,054 |
Other expense, net |
|
11,495 |
|
47,943 |
|
7,066 |
|
13,854 |
|
27,370 |
|
4,033 |
Share-based compensation |
|
2,361 |
|
5,671 |
|
836 |
|
7,945 |
|
9,152 |
|
1,349 |
Adjusted EBITDA |
|
2,055 |
|
(20,955) |
|
(3,089) |
|
(9,114) |
|
(39,298) |
|
(5,792) |
11