Cheetah Mobile Announces Third Quarter 2025 Unaudited Consolidated Financial Results

Rhea-AI Summary

Cheetah Mobile (NYSE: CMCM) reported third quarter 2025 unaudited results for the period ended September 30, 2025. Total revenue rose 49.6% YoY to RMB287.4M (US$40.4M), led by the AI and others segment which grew 150.8% YoY and accounted for 50.4% of revenue. Gross profit was RMB214.4M (gross margin 74.6%).

The company recorded an operating profit of RMB3.9M (first quarterly operating profit in six years) and non-GAAP operating profit of RMB15.1M. Net loss attributable to shareholders narrowed to RMB11.0M. Cash and cash equivalents were RMB1,597.3M as of September 30, 2025.

Positive

• Total revenue +49.6% YoY to RMB287.4M
• AI and others revenue +150.8% YoY, 50.4% of revenue
• Gross margin expanded to 74.6%
• Operating profit RMB3.9M (first quarterly operating profit in six years)
• Non-GAAP operating profit RMB15.1M
• Cash and cash equivalents RMB1,597.3M

Negative

• Net loss attributable to shareholders RMB11.0M in Q3 2025
• Non-GAAP net income attributable to shareholders only RMB0.2M

News Market Reaction

-13.28% 7.9x vol

12 alerts

-13.28% News Effect

+13.1% Peak Tracked

-18.8% Trough Tracked

-$40M Valuation Impact

$261M Market Cap

7.9x Rel. Volume

On the day this news was published, CMCM declined 13.28%, reflecting a significant negative market reaction. Argus tracked a peak move of +13.1% during that session. Argus tracked a trough of -18.8% from its starting point during tracking. Our momentum scanner triggered 12 alerts that day, indicating notable trading interest and price volatility. This price movement removed approximately $40M from the company's valuation, bringing the market cap to $261M at that time. Trading volume was exceptionally heavy at 7.9x the daily average, suggesting significant selling pressure.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Total revenue: RMB287.4M (US$40.4M), +49.6% YoY AI & others growth: +150.8% YoY; 50.4% of revenue Gross profit & margin: RMB214.4M (US$30.1M), 74.6% margin +5 more

8 metrics

Total revenue RMB287.4M (US$40.4M), +49.6% YoY Q3 2025 consolidated revenue growth versus Q3 2024

AI & others growth +150.8% YoY; 50.4% of revenue Q3 2025 AI and others segment contribution and growth

Gross profit & margin RMB214.4M (US$30.1M), 74.6% margin Q3 2025 gross profit; margin up from 67.9% YoY

Operating profit RMB3.9M (US$0.6M) Q3 2025 operating result vs RMB72.0M loss a year ago

Non-GAAP operating profit RMB15.1M (US$2.1M) Q3 2025 vs non-GAAP operating loss RMB60.5M last year

Net loss to shareholders RMB11.0M (US$1.5M) Q3 2025 net loss vs RMB46.9M loss a year ago

Non-GAAP net income RMB0.2M (US$0.03M) Q3 2025 vs non-GAAP net loss RMB35.4M last year

Cash & equivalents RMB1,597.3M (US$224.4M) Balance as of September 30, 2025, described as strong liquidity

Market Reality Check

Price: $6.72 Vol: Volume 8,535 is well belo...

low vol

$6.72 Last Close

Volume Volume 8,535 is well below 20-day average of 52,563, indicating limited pre-news positioning. low

Technical Price 7.09 is trading above the 200-day MA at 5.66, reflecting a pre-news upward trend.

Peers on Argus

Peers in Internet Content & Information showed mixed, mostly modest moves, with ...

2 Up

Peers in Internet Content & Information showed mixed, mostly modest moves, with examples like TRVG up 2.78% and TRUE down 0.92%, suggesting CMCM’s setup was more stock-specific than sector-driven.

Historical Context

5 past events · Latest: Nov 26 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Nov 26	Q3 2025 earnings	Positive	-13.3%	Strong Q3 growth and first operating profit in six years.
Nov 19	Earnings date notice	Neutral	-0.2%	Announcement of timing and access details for Q3 2025 results.
Sep 11	Q2 2025 earnings	Positive	+18.6%	Strong Q2 revenue growth and major improvement in non-GAAP loss.
Sep 04	Q2 call schedule	Neutral	-3.2%	Scheduling and access information for Q2 2025 earnings call.
Jul 28	UFACTORY acquisition	Positive	+6.8%	Plan to acquire controlling stake in profitable robotic arms maker.

Pattern Detected

Earnings and strategic updates often moved the stock sharply, with both strong rallies and notable sell-offs following fundamentally positive news.

Recent Company History

Over the last six months, Cheetah Mobile reported several key updates. Q2 2025 earnings on Sep 11 showed strong revenue growth and sharply reduced non-GAAP operating loss, and the stock rose 18.56%. The UFACTORY acquisition announcement on Jul 28 also saw a positive reaction of 6.79%. However, today’s Q3 2025 earnings release on Nov 26, despite returning to operating profit, saw a -13.28% move, illustrating that positive fundamentals have sometimes coincided with negative price reactions.

Market Pulse Summary

The stock dropped -13.3% in the session following this news. A negative reaction despite positive ne...

Analysis

The stock dropped -13.3% in the session following this news. A negative reaction despite positive news fits prior patterns where strong fundamentals did not always translate into gains. Q3 2025 delivered 49.6% revenue growth and a return to operating profit, yet past earnings have seen both rallies and steep declines, including a -22.06% move on Q3 2024 results. Investors may have focused on the remaining RMB11.0M net loss or prior volatility when reassessing the turnaround story.

Jargon Translator

gross margin

Gross margin is the difference between how much money a company makes from selling its products and how much it costs to produce them, expressed as a percentage of sales. It shows how efficiently a company is turning sales into profit before other expenses like marketing or salaries. Higher gross margin means the company keeps more money from each sale, which is a good sign of financial health.

Non-GAAP

Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.

AI-generated analysis. Not financial advice.

BEIJING, Nov. 26, 2025 /PRNewswire/ -- Cheetah Mobile Inc. (NYSE: CMCM) ("Cheetah Mobile" or the "Company"), a China-based IT company, today announced its unaudited consolidated financial results for the quarter ended September 30, 2025.

Management Commentary

Mr. Sheng Fu, Cheetah Mobile's Chairman and Chief Executive Officer, remarked, "We are pleased to see continued momentum in our turnaround journey. In the third quarter of 2025, we delivered our first quarterly operating profit in six years—reaching this milestone ahead of expectations. Total revenue grew 49.6% year over year, with the AI and others segment increasing 150.8% and contributing half of total revenue, reflecting the emergence of our next growth engine. Within the AI and others segment, our AI robot business continued to perform well, supported by solid demand for our voice-enabled wheel robots and robotic arms. In parallel, we are developing AI-native tools across PC and mobile, while enhancing existing products with new AI features. Looking ahead, we remain focused on driving growth by building new growth engines through continued investment in AI robots and AI tools."

Mr. Thomas Ren, Chief Financial Officer of Cheetah Mobile, commented: "Our consistent improvement on bottom-line reflects our disciplined execution and operational improvements. Operating profit was about RMB3.9 million, increasing from an operating loss of RMB72.0 million in the year ago quarter and an operating loss of RMB11.1 million in the previous quarter. Non-GAAP operating profit reached RMB15.1 million, compared with a non-GAAP operating loss of RMB60.5 million in the same period last year and RMB2.1 million in Q2. Our Internet business segment generated RMB68.2 million in adjusted operating profit in the first nine months of 2025, exceeding full-year 2024 levels and growing 86.2% year over year. Meanwhile, adjusted operating loss in our AI and others segment narrowed meaningfully in this quarter. In addition, our balance sheet remains healthy."

Third Quarter 2025 Financial Highlight

• Total revenues grew by 49.6% year-over-year to RMB287.4 million (US$40.4 million) in the third quarter of 2025, driven by the 150.8% year-over-year increase in AI and others revenues, which already accounted for 50.4% of Cheetah Mobile's third quarter revenues, up from 30.1% in the same period last year.
• Gross profit increased by 64.4% year-over-year to RMB214.4 million (US$30.1 million) in the third quarter of 2025. Non-GAAP gross profit rose by 64.3% year-over-year to RMB214.4 million (US$30.1 million) in the third quarter of 2025. Gross margin was 74.6% in the third quarter of 2025, up from 67.9% in the year-ago quarter. Non-GAAP gross margin was 74.6% in the third quarter of 2025, up from 67.9% in the year-ago quarter.
• Operating profit was RMB3.9 million (US$0.6 million) in the third quarter of 2025, improving from operating loss of RMB72.0 million in the same period last year. Non-GAAP operating profit was RMB15.1 million (US$2.1 million) in the third quarter of 2025, improving from non-GAAP operating loss of RMB60.5 million in the same period last year.
• Net loss attributable to Cheetah Mobile Shareholders was RMB11.0 million (US$1.5 million) in the third quarter of 2025, improving from net loss attributable to Cheetah Mobile Shareholders of RMB 46.9 million in the year ago quarter. Non-GAAP net income attributable to Cheetah Mobile Shareholders was RMB0.2 million (US$0.03 million) in the third quarter of 2025, improving from non-GAAP net loss attributable to Cheetah Mobile Shareholders of RMB35.4 million in the same period last year.
• As of September 30, 2025, the Company had cash and cash equivalents of RMB1,597.3 million (US$224.4 million), ensuring strong liquidity.
• As of September 30, 2025, the Company had long-term investments of RMB761.4 million (US$107.0 million).

Conference Call Information

The Company will hold a conference call on November 26, 2025, at 6:00 a.m. Eastern Time (or 7:00 p.m. Beijing Time) to discuss its financial results. Listeners may access the call by dialing the following numbers:

Main Line:
International: 1-412-317-6061
United States Toll Free: 1-888-317-6003
Mainland China Toll Free: +86-4001-206115
Hong Kong Toll Free: 800-963976
Conference ID: 4896015

English Translation:
International: 1-412-317-6061
United States Toll Free: 1-888-317-6003
Mainland China Toll Free: +86-4001-206115
Hong Kong Toll Free: 800-963976
Conference ID: 4165222

A live and archived webcast of the conference call will also be available at the Company's investor relations website at http://ir.cmcm.com. 

Exchange Rate

This press release contains translations of certain Renminbi amounts into U.S. dollars at specified rates solely for the convenience of readers. Unless otherwise noted, all translations from Renminbi to U.S. dollars in this press release were made at a rate of RMB7.1190 to US$1.00, the exchange rate in effect as of September 30, 2025, 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, or to be the amounts that would have been reported under accounting principles generally accepted in the United States of America ("U.S. GAAP").

About Cheetah Mobile Inc.

Cheetah Mobile is a China-based IT company with a commitment to AI innovation. It has attracted hundreds of millions of users through an array of internet products and services on PCs and mobile devices. At the same time, it actively engages in the independent research and development of AI technologies, including LLM technologies. Cheetah Mobile provides advertising services to advertisers worldwide, value-added services including the sale of premium membership to its users, multi-cloud management platform to companies globally, as well as AI service robots and robotic arms to international clients. Cheetah Mobile is also committed to leveraging its cutting-edge AI technologies, including LLM technologies, to empower its products and make the world smarter. It 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 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 but are not limited to the following: Cheetah Mobile's growth strategies; Cheetah Mobile's ability to retain and increase its user base and expand its product and service offerings; Cheetah Mobile's ability to monetize its platform; Cheetah Mobile's future business development, financial condition and results of operations; competition with companies in a number of industries including internet companies that provide online marketing services and internet value-added services; expected changes in Cheetah Mobile's revenues and certain cost or expense items; and general economic and business condition globally and in China. Further information regarding these and other risks is included in Cheetah Mobile's filings with the U.S. Securities and Exchange Commission. Cheetah Mobile does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

Use of Non-GAAP Financial Measures

This release contains non-GAAP financial measures, including but not limited to:

• Non-GAAP cost of revenues excludes share-based compensation expenses;
• Non-GAAP gross profit excludes share-based compensation expenses;
• Non-GAAP gross margin excludes share-based compensation expenses;
• Total non-GAAP operating expenses exclude share-based compensation expenses, amortization of intangible assets and impairment of goodwill resulting from business acquisitions;
• Non-GAAP research and development expenses exclude share-based compensation expenses, amortization of intangible assets resulting from business acquisitions;
• Non-GAAP selling and marketing expenses exclude share-based compensation expenses and amortization of intangible assets resulting from business acquisitions;
• Non-GAAP general and administrative expenses exclude share-based compensation expenses;
• Non-GAAP operating profit/loss excludes share-based compensation expenses, amortization of intangible assets and impairment of goodwill resulting from business acquisitions;
• Non-GAAP net income/loss attributable to Cheetah Mobile shareholders excludes share-based compensation expenses, amortization of intangible assets and impairment of goodwill resulting from business acquisitions;
• Non-GAAP diluted earnings/losses per ADS excludes share-based compensation expenses, amortization of intangible assets and impairment of goodwill resulting from business acquisitions; 

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 and impairment of goodwill resulting from business acquisitions, which have been and will continue to be significant recurring expenses in its business. 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 10 6292 7779
Email: ir@cmcm.com 

 

 

CHEETAH MOBILE INC.
Condensed Consolidated Balance Sheets
(Unaudited, amounts in thousands of Renminbi ("RMB") and US dollars ("US$"))
	As of
	December 31, 2024		September 30, 2025
	RMB		RMB		USD
ASSETS
Current assets:
Cash and cash equivalents	1,833,031		1,597,311		224,373
Short-term investments	335		863		121
Accounts receivable, net	473,619		443,459		62,292
Prepayments and other current assets, net	1,365,761		1,115,204		156,653
Due from related parties, net	106,934		126,801		17,812
Total current assets	3,779,680		3,283,638		461,251
Non-current assets:
Property and equipment, net	51,564		40,797		5,731
Operating lease right-of-use assets	26,323		19,067		2,678
Intangible assets, net	190,665		205,660		28,889
Goodwill	424,099		460,034		64,621
Long-term investments	817,330		761,408		106,954
Deferred tax assets	128,581		119,725		16,818
Other non-current assets	86,059		90,317		12,687
Total non-current assets	1,724,621		1,697,008		238,378
Total assets	5,504,301		4,980,646		699,629
LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable	219,566		207,356		29,127
Accrued expenses and other current liabilities	2,756,805		2,309,513		324,415
Due to related parties	69,606		18,011		2,530
Income tax payable	35,804		50,748		7,129
Total current liabilities	3,081,781		2,585,628		363,201
Non-current liabilities:
Deferred tax liabilities	43,046		44,635		6,270
Other non-current liabilities	172,348		165,010		23,179
Total non-current liabilities	215,394		209,645		29,449
Total liabilities	3,297,175		2,795,273		392,650
Mezzanine equity:
Redeemable noncontrolling interests	189,725		196,191		27,559
Shareholders' equity:
Ordinary shares	248		254		36
Additional paid-in capital	2,722,504		2,724,880		382,762
Accumulated deficit	(1,232,577)		(1,299,551)		(182,547)
Accumulated other comprehensive income	410,423		391,343		54,972
Total Cheetah Mobile Inc. shareholders' equity	1,900,598		1,816,926		255,223
Noncontrolling interests	116,803		172,256		24,197
Total shareholders' equity	2,017,401		1,989,182		279,420
Total liabilities, mezzanine equity and shareholders' equity	5,504,301		4,980,646		699,629

 

 

 

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 Nine Months Ended
		September 30, 2024		September 30, 2025		September 30, 2025		September 30, 2024		September 30, 2025		September 30, 2025
		RMB		RMB		USD		RMB		RMB		USD
Revenues		192,083		287,369		40,367		569,788		841,593		118,217
Internet business		134,287		142,407		20,004		357,036		459,385		64,529
AI and others		57,796		144,962		20,363		212,752		382,208		53,688
Cost of revenues (a)		(61,714)		(73,005)		(10,255)		(197,365)		(212,936)		(29,911)
Gross profit		130,369		214,364		30,112		372,423		628,657		88,306
Operating income and expenses:
Research and development (a)		(66,269)		(67,962)		(9,547)		(177,885)		(196,289)		(27,573)
Selling and marketing (a)		(89,038)		(82,806)		(11,632)		(237,570)		(290,078)		(40,747)
General and administrative (a)		(47,349)		(60,170)		(8,452)		(188,104)		(179,421)		(25,203)
Other operating income, net		278		506		71		1,014		3,465		487
Total operating income and expenses		(202,378)		(210,432)		(29,560)		(602,545)		(662,323)		(93,036)
Operating (loss)/income		(72,009)		3,932		552		(230,122)		(33,666)		(4,730)
Other income/(expenses):
Interest income, net		9,471		9,560		1,343		34,560		25,145		3,532
Foreign exchange gains		21,351		8,628		1,212		10,510		16,627		2,336
Other income/(expense), net		1,738		(12,318)		(1,730)		(57,469)		(34,171)		(4,800)
(Loss)/income before income taxes		(39,449)		9,802		1,377		(242,521)		(26,065)		(3,662)
Income tax (expenses)/benefits		(2,387)		(13,506)		(1,897)		3,806		(22,191)		(3,117)
Net loss		(41,836)		(3,704)		(520)		(238,715)		(48,256)		(6,779)
Less: net income attributable to noncontrolling interests		5,061		7,270		1,021		12,058		18,718		2,629
Net loss attributable to Cheetah Mobile shareholders		(46,897)		(10,974)		(1,541)		(250,773)		(66,974)		(9,408)
Net loss per share
Basic		(0.0323)		(0.0085)		(0.0012)		(0.1711)		(0.0480)		(0.0067)
Diluted		(0.0323)		(0.0086)		(0.0012)		(0.1711)		(0.0483)		(0.0067)
Net loss per ADS
Basic		(1.6150)		(0.4236)		(0.0600)		(8.5542)		(2.4019)		(0.3350)
Diluted		(1.6150)		(0.4296)		(0.0600)		(8.5569)		(2.4130)		(0.3350)
Weighted average number of shares outstanding
Basic		1,509,057,830		1,548,248,444		1,548,248,444		1,499,799,151		1,527,699,928		1,527,699,928
Diluted		1,509,057,830		1,548,248,444		1,548,248,444		1,499,799,151		1,527,699,928		1,527,699,928
Weighted average number of ADSs outstanding
Basic		30,181,157		30,964,969		30,964,969		29,995,983		30,553,999		30,553,999
Diluted		30,181,157		30,964,969		30,964,969		29,995,983		30,553,999		30,553,999
Other comprehensive income/(loss) , net of tax of nil
Foreign currency translation adjustments		(32,036)		(16,996)		(2,387)		(2,622)		(24,911)		(3,499)
Unrealized gains/(losses) on available-for-sale securities, net		2,799		3,814		536		(4,635)		6,662		936
Other comprehensive loss		(29,237)		(13,182)		(1,851)		(7,257)		(18,249)		(2,563)
Total comprehensive loss		(71,073)		(16,886)		(2,371)		(245,972)		(66,505)		(9,342)
Less: Total comprehensive income attributable to noncontrolling interests		7,346		5,774		811		11,890		19,549		2,746
Total comprehensive loss attributable to Cheetah Mobile shareholders		(78,419)		(22,660)		(3,182)		(257,862)		(86,054)		(12,088)
		For The Three Months Ended						For The Nine Months Ended
		September 30, 2024		September 30, 2025		September 30, 2025		September 30, 2024		September 30, 2025		September 30, 2025
(a) Share-based compensation expenses		RMB		RMB		USD		RMB		RMB		USD
Cost of revenues		92		4		1		541		14		2
Research and development		236		(172)		(24)		644		186		26
Selling and marketing		(277)		183		26		(167)		483		68
General and administrative		4,863		2,714		381		19,939		9,991		1,403
Total		4,914		2,729		384		20,957		10,674		1,499

 

 

 

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 September 30, 2025						For The Nine Months Ended September 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	USD		RMB	RMB	RMB	RMB	USD
Revenues	287,369	-	-	287,369	40,367		841,593	-	-	841,593	118,217
Cost of revenues	(73,005)	4	-	(73,001)	(10,254)		(212,936)	14	-	(212,922)	(29,909)
Gross profit	214,364	4	-	214,368	30,113		628,657	14	-	628,671	88,308
Research and development	(67,962)	(172)	6,388	(61,746)	(8,674)		(196,289)	186	18,700	(177,403)	(24,920)
Selling and marketing	(82,806)	183	2,070	(80,553)	(11,315)		(290,078)	483	3,008	(286,587)	(40,257)
General and administrative	(60,170)	2,714	-	(57,456)	(8,071)		(179,421)	9,991	-	(169,430)	(23,800)
Other operating income, net	506	-	-	506	71		3,465	-	-	3,465	487
Total operating income and expenses	(210,432)	2,725	8,458	(199,249)	(27,989)		(662,323)	10,660	21,708	(629,955)	(88,490)
Operating income/(loss)	3,932	2,729	8,458	15,119	2,124		(33,666)	10,674	21,708	(1,284)	(182)
Net (loss)/income attributable to Cheetah Mobile shareholders	(10,974)	2,729	8,458	213	31		(66,974)	10,674	21,708	(34,592)	(4,860)
Diluted losses per ordinary share (RMB)	(0.0086)	0.0018	0.0054	(0.0014)			(0.0483)	0.0070	0.0141	(0.0272)
Diluted losses per ADS (RMB)	(0.4296)	0.0900	0.2696	(0.0700)			(2.4130)	0.3500	0.7030	(1.3600)
Diluted losses per ADS (USD)	(0.0600)	0.0126	0.0376	(0.0098)			(0.3350)	0.0492	0.0948	(0.1910)

 

 

 

	For The Three Months Ended  September 30, 2024				For The Nine Months Ended  September 30, 2024
	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	192,083	-	-	192,083	569,788	-	-	569,788
Cost of revenues	(61,714)	92	-	(61,622)	(197,365)	541	-	(196,824)
Gross profit	130,369	92	-	130,461	372,423	541	-	372,964
Research and development	(66,269)	236	6,156	(59,877)	(177,885)	644	18,468	(158,773)
Selling and marketing	(89,038)	(277)	469	(88,846)	(237,570)	(167)	1,407	(236,330)
General and administrative	(47,349)	4,863	-	(42,486)	(188,104)	19,939	-	(168,165)
Other operating income, net	278	-	-	278	1,014	-	-	1,014
Total operating income and expenses	(202,378)	4,822	6,625	(190,931)	(602,545)	20,416	19,875	(562,254)
Operating loss	(72,009)	4,914	6,625	(60,470)	(230,122)	20,957	19,875	(189,290)
Net loss attributable to Cheetah Mobile shareholders	(46,897)	4,914	6,625	(35,358)	(250,773)	20,957	19,875	(209,941)
Diluted losses per ordinary share (RMB)	(0.0323)	0.0033	0.0044	(0.0246)	(0.1711)	0.0140	0.0132	(0.1439)
Diluted losses per ADS (RMB)	(1.6150)	0.1650	0.2200	(1.2300)	(8.5569)	0.7000	0.6619	(7.1950)
* This represents amortization of intangible assets resulting from business acquisitions.

 

 

 

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 September 30, 2025								For The Nine Months Ended September 30, 2025
		Internet Business		AI and others		Consolidated				Internet Business		AI and others		Consolidated
		RMB		RMB		RMB		USD		RMB		RMB		RMB		USD
Revenues		142,407		144,962		287,369		40,367		459,385		382,208		841,593		118,217
Operating Costs and expenses
Cost of revenues(i)		25,999		47,002		73,001		10,254		75,306		137,616		212,922		29,909
Selling and marketing(i)		45,371		37,252		82,623		11,606		174,986		114,609		289,595		40,679
Research and development(i)		33,441		34,693		68,134		9,571		99,693		96,410		196,103		27,547
Other segment items(i)		16,252		40,698		56,950		8,000		41,199		124,766		165,965		23,313
Adjusted operating income/(loss)		21,344		(14,683)		6,661		936		68,201		(91,193)		(22,992)		(3,231)
Unallocated amounts-share based compensations						(2,729)		(384)						(10,674)		(1,499)
Operating income/(loss)						3,932		552						(33,666)		(4,730)
Reconciliation of segment profit/(loss)
Interest income, net						9,560		1,343						25,145		3,532
Foreign exchange gains, net						8,628		1,212						16,627		2,336
Other expense , net						(12,318)		(1,730)						(34,171)		(4,800)
Income/(loss) before income taxes						9,802		1,377						(26,065)		(3,662)

 

 

 

		For The Three Months Ended September 30, 2024						For The Nine Months Ended September 30, 2024
		Internet Business		AI and others		Consolidated		Internet Business		AI and others		Consolidated
		RMB		RMB		RMB		RMB		RMB		RMB
Revenues		134,287		57,796		192,083		357,036		212,752		569,788
Operating Costs and expenses
Cost of revenues(i)		19,687		41,935		61,622		58,638		138,186		196,824
Selling and marketing(i)		53,113		36,202		89,315		130,702		107,035		237,737
Research and development(i)		32,594		33,439		66,033		84,825		92,416		177,241
Other segment items(i)		15,088		27,120		42,208		46,245		120,906		167,151
Adjusted operating income/(losses)		13,805		(80,900)		(67,095)		36,626		(245,791)		(209,165)
Unallocated amounts-share based compensations						(4,914)						(20,957)
Operating loss						(72,009)						(230,122)
Reconciliation of segment profit/(loss)
Interest income, net						9,471						34,560
Foreign exchange gains, net						21,351						10,510
Other income/(expense), net						1,738						(57,469)
Loss before income taxes						(39,449)						(242,521)
(i) Share-based compensations were not allocated to segments. Other segment items include general and administrative expenses and other operating expenses allocated to the respective segments.

 

 

 

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 Nine Months Ended
		September 30, 2024		September 30, 2025		September 30, 2025		September 30, 2024		September 30, 2025		September 30, 2025
		RMB		RMB		USD		RMB		RMB		USD
Net loss attributable to Cheetah Mobile shareholders		(46,897)		(10,974)		(1,541)		(250,773)		(66,974)		(9,408)
Add:
Income tax expenses/(benefits)		2,387		13,506		1,897		(3,806)		22,191		3,117
Interest income, net		(9,471)		(9,560)		(1,343)		(34,560)		(25,145)		(3,532)
Depreciation and other amortization		12,205		12,270		1,724		36,834		32,809		4,609
Net income attributable to noncontrolling interests		5,061		7,270		1,021		12,058		18,718		2,629
Other (income)/ expense, net		(23,089)		3,690		518		46,959		17,544		2,464
Share-based compensation		4,914		2,729		384		20,957		10,674		1,499
Adjusted EBITDA		(54,890)		18,931		2,660		(172,331)		9,817		1,378

 

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SOURCE Cheetah Mobile

FAQ

What were Cheetah Mobile (CMCM) third quarter 2025 revenues and YoY growth?

Cheetah Mobile reported RMB287.4M in Q3 2025 revenue, up 49.6% YoY.

How much did CMCM's AI and others segment contribute in Q3 2025?

The AI and others segment grew 150.8% YoY and contributed 50.4% of Q3 2025 revenue.

Did Cheetah Mobile (CMCM) report operating profit in Q3 2025?

Yes — CMCM recorded an operating profit of RMB3.9M in Q3 2025, its first quarterly operating profit in six years.

What was Cheetah Mobile's cash position as of September 30, 2025?

Cash and cash equivalents were RMB1,597.3M (US$224.4M) as of September 30, 2025.

What were CMCM's non-GAAP operating and net results in Q3 2025?

Non-GAAP operating profit was RMB15.1M; non-GAAP net income attributable to shareholders was RMB0.2M.

When will Cheetah Mobile discuss Q3 2025 results with investors?

The company held a conference call on November 26, 2025 at 6:00 a.m. ET (7:00 p.m. Beijing Time) with a live webcast on its investor relations site.