08:47:10 EDT Tue 24 Mar 2026
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Cheetah Mobile Announces Fourth Quarter and Fiscal Year 2025 Unaudited Consolidated Financial Results

2026-03-24 04:30 ET - News Release

Cheetah Mobile Announces Fourth Quarter and Fiscal Year 2025 Unaudited Consolidated Financial Results

PR Newswire

AI and Others revenue grew 84.7% year over year and accounted for 46.5% of total revenue in 2025

BEIJING, March 24, 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 fourth quarter and full year ended December 31, 2025.

Full Year 2025 Financial Highlights

Total revenues increased by 42.6% year over year to RMB 1,150.4 million (US$164.5 million) in 2025, driven by strong expansion across business segments.

  • Revenue from the Internet business increased by 19.0% year over year to RMB 615.3 million (US$88.0 million) .
  • Revenue from the AI and Others segment increased by 84.7% year over year to RMB 535.2 million (US$76.5 million), reflecting continued scaling of the Company's emerging initiatives. The AI and Others segment accounted for 46.5% of total revenues in 2025, compared with 35.9% in 2024.

Gross profit increased by 53.0% year over year to RMB 834.0 million (US$119.3 million). Gross margin improved to 72.5% in 2025 from 67.6% in 2024. On a non-GAAP basis, gross profit was RMB 834.0 million (US$119.3 million), and non-GAAP gross margin was 72.5%.

Operating loss decreased by 59.0% year over year to RMB 179.4 million (US$25.7 million) in 2025. On a non-GAAP basis, operating profit was RMB 14.2 million (US$2.0 million), compared with a non-GAAP operating loss of RMB 231.8 million in 2024.

  • The Internet business generated adjusted operating profit of approximately RMB 114.9 million in 2025, representing a 82.8% year-over-year increase and reflecting improving profitability and strong cash flow generation. Adjusted operating margin for this segment was 18.7% in 2025, compared with 12.1% in 2024.
  • The AI and Others segment reported an adjusted operating loss of approximately RMB 274.5 million in 2025, representing a 42.1% year-over-year reduction, as the Company continued improving operating efficiency while scaling emerging initiatives.

Cash and cash equivalents were RMB 1,506.6 million (US$215.4 million) as of December 31, 2025.

Fourth Quarter 2025 Financial Highlights

Total revenues increased by 30.3% year over year and 7.5% quarter over quarter to RMB 308.9 million (US$44.2 million) in the fourth quarter of 2025.

  • Revenue from the Internet business was RMB 155.9 million (US$22.3 million) in the fourth quarter of 2025. While Internet business revenue declined slightly year over year, it increased 9.5% quarter over quarter.
  • Revenue from the AI and Others segment reached RMB 153.0 million (US$21.9 million), representing a 98.8% year-over-year increase and a 5.5% quarter-over-quarter increase, reflecting continued growth momentum of the Company's emerging initiatives. The AI and Others segment accounted for 49.5% of total revenues in the fourth quarter of 2025, compared with 32.5% in the same period last year, representing nearly half of total revenue.

Gross profit increased by 18.9% year over year to RMB 205.4 million (US$29.4 million) in the fourth quarter of 2025. On a non-GAAP basis, gross profit increased by 19.2% year over year to RMB 205.4 million (US$29.4 million).

Operating loss decreased by 29.6% year over year to RMB 145.8 million (US$20.8 million) in the fourth quarter of 2025. On a non-GAAP basis, operating profit was RMB 15.5 million (US$2.2 million), compared with a non-GAAP operating loss of RMB 42.5 million in the fourth quarter of 2024.

  • The Internet business generated adjusted operating profit of approximately RMB 46.7 million in the fourth quarter of 2025, representing a 78.1% year-over-year increase, and continued to serve as a stable profit contributor to the Company.
  • The AI and Others segment reported an adjusted operating loss of approximately RMB 183.3 million in the fourth quarter of 2025, representing a 19.7% year-over-year reduction in operating loss.

Management Commentary

Fu Sheng, Chief Executive Officer of Cheetah Mobile, commented: "2025 marked a turning point for Cheetah Mobile. We delivered revenue growth while meaningfully improving operating efficiency and achieved full-year non-GAAP operating profitability. Our robotics business, which represented approximately 18.9% of total revenue in the fourth quarter, increased 93.6% year over year and 42.9% quarter over quarter, showing strong growth momentum. We are expanding our robotic product portfolio with a consumer-facing smart wheelchair, leveraging our existing autonomous mobility technologies. Our internet business remained a stable cash-generating platform, supporting disciplined investment in AI-driven capabilities. Leveraging our long-standing utility product experience, we continued to enhance our AI agent products, with the introduction of EasyClaw, our AI coworker platform designed to help users create and deploy AI agents more easily. While monetization remains at an early stage, these initiatives are part of our long-term strategy to build sustainable growth engines."

Thomas Ren, Chief Financial Officer of Cheetah Mobile, commented: "In 2025, we continued to strengthen operating discipline and improve cost efficiency across the organization. Although we reported a GAAP operating loss for the year, operating loss narrowed significantly year over year. On a non-GAAP basis, we achieved operating profitability, reflecting an improved cost structure and increasing operating leverage. Within our Internet business, internet value-added services, which contributed 74.8% of this segment's revenues in the fourth quarter of 2025, expanded by 32.0% year over year and 16.2% quarter over quarter, enhancing earnings visibility and margin stability. In our AI and Others segment, revenue contribution increased year over year and accounted for nearly half of total revenues in the fourth quarter of 2025, while operating loss narrowed as we maintained selective investment and cost control. We ended the year with a solid cash position, providing financial flexibility to support disciplined capital allocation."

Conference Call Information

The Company will hold a conference call on March 24, 2026, at 7:00 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: 8826704

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: 6928279

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 RMB6.9931 to US$1.00, the exchange rate in effect as of December 31, 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 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, among others. 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 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 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 resulting from business acquisitions, impairment of goodwill and intangible assets 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 , 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 resulting from business acquisitions and impairment of goodwill and intangible assets resulting from business acquisitions;
  • Non-GAAP net income/loss attributable to Cheetah Mobile shareholders excludes share-based compensation expenses, amortization of intangible assets resulting from business acquisitions, impairment of goodwill and intangible assets resulting from business acquisitions;
  • Non-GAAP diluted earnings/losses per ADS excludes share-based compensation expenses, amortization of intangible assets resulting from business acquisitions, impairment of goodwill and intangible assets 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, amortization of intangible assets resulting from business acquisitions, impairment of goodwill and intangible assets 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              December 31, 2025


                                                                                                        RMB                     RMB                     USD



        
          ASSETS



        
          Current assets:



        Cash and cash equivalents                                                                       1,833,031         1,506,625                  215,445



        Short-term investments                                                                                335             9,527                    1,362



        Accounts receivable, net                                                                          473,619           468,058                   66,931



        Prepayments and other current assets, net                                                       1,365,761         1,154,774                  165,132



        Due from related parties, net                                                                     106,934            94,821                   13,559



        
          Total current assets                                                                 3,779,680         3,233,805                  462,429





        
          Non-current assets:



        Property and equipment, net                                                                        51,564            40,238                    5,754



        Operating lease right-of-use assets                                                                26,323            16,833                    2,407



        Intangible assets, net                                                                            190,665            54,069                    7,732



        Goodwill                                                                                          424,099           460,034                   65,784



        Long-term investments                                                                             817,330           688,459                   98,448



        Deferred tax assets                                                                               128,581           112,913                   16,146



        Other non-current assets                                                                           86,059            77,521                   11,085



        
          Total non-current assets                                                             1,724,621         1,450,067                  207,356





        
          Total assets                                                                         5,504,301         4,683,872                  669,785





        
          LIABILITIES, MEZZANINE EQUITY
AND SHAREHOLDERS' EQUITY



        
          Current liabilities:



        Accounts payable                                                                                  219,566           211,689                   30,271



        Accrued expenses and other current liabilities                                                  2,756,805         2,264,659                  323,842



        Due to related parties                                                                             69,606            18,613                    2,662



        Income tax payable                                                                                 35,804            54,430                    7,783



        
          Total current liabilities                                                            3,081,781         2,549,391                  364,558





        
          Non-current liabilities:



        Deferred tax liabilities                                                                           43,046            21,711                    3,105



        Other non-current liabilities                                                                     172,348           154,422                   22,082



        
          Total non-current liabilities                                                          215,394           176,133                   25,187





        
          Total liabilities                                                                    3,297,175         2,725,524                  389,745





        
          Mezzanine equity:



        Redeemable noncontrolling interests                                                               189,725           197,560                   28,251





        
          Shareholders' equity:



        Ordinary shares                                                                                       248               254                       36



        Additional paid-in capital                                                                      2,722,504         2,736,117                  391,260



        Accumulated deficit                                                                           (1,232,577)      (1,490,947)               (213,203)



        Accumulated other comprehensive income                                                            410,423           362,245                   51,800



        
          Total Cheetah Mobile Inc. shareholders'                                              1,900,598         1,607,669                  229,893
equity



        
          Noncontrolling interests                                                               116,803           153,119                   21,896





        
          Total shareholders' equity                                                           2,017,401         1,760,788                  251,789





        
          Total liabilities, mezzanine equity and                                              5,504,301         4,683,872                  669,785
shareholders' equity

                                                                                                                                                                                         
          
            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 Year Ended


                                                                  December 31,                          December 31,                               December 31,                               December 31,                               December 31,     December 31,
                                                                          2024                                   2025                                        2025                                        2024                                        2025              2025


                                                                       RMB                                   RMB                                        USD                                        RMB                                        RMB              USD



          
            Revenues                                       237,089                                308,851                                      44,165                                     806,877                                   1,150,444           164,511



               Internet business                                      160,152                                155,896                                      22,293                                     517,188                                     615,281            87,984



               AI and others                                           76,937                                152,955                                      21,872                                     289,689                                     535,163            76,527



          Cost of revenues (a)                                       (64,317)                             (103,475)                                   (14,797)                                  (261,682)                                  (316,411)         (45,246)



          
            Gross profit                                   172,772                                205,376                                      29,368                                     545,195                                     834,033           119,265





          
            Operating income and expenses:



          Research and development (a)                               (65,506)                             (149,863)                                   (21,430)                                  (243,391)                                  (346,152)         (49,499)



          Selling and marketing (a)                                 (104,851)                              (72,657)                                   (10,390)                                  (342,421)                                  (362,735)         (51,870)



          General and administrative (a)                             (56,281)                              (87,101)                                   (12,455)                                  (244,385)                                  (266,522)         (38,112)



          Impairment of goodwill and intangible                     (152,890)                              (41,563)                                    (5,943)                                  (152,890)                                   (41,563)          (5,943)
assets



          Other operating (expense)/income                              (377)                                    31                                           4                                         637                                       3,496               500



          
            Total operating income and expenses          (379,905)                             (351,153)                                   (50,214)                                  (982,450)                                (1,013,476)        (144,924)





          
            Operating loss                               (207,133)                             (145,777)                                   (20,846)                                  (437,255)                                  (179,443)         (25,659)



          
            Other income/(expenses):



          Interest income, net                                          9,862                                  5,484                                         784                                      44,422                                      30,629             4,380



          Foreign exchange (losses)/gains                            (32,236)                                14,156                                       2,024                                    (21,726)                                     30,783             4,402



          Other expense, net                                         (82,300)                              (74,481)                                   (10,651)                                  (139,769)                                  (108,652)         (15,537)





          
            Loss before income taxes                     (311,807)                             (200,618)                                   (28,689)                                  (554,328)                                  (226,683)         (32,414)



          Income tax (expenses)/benefits                             (51,064)                                13,722                                       1,962                                    (47,258)                                    (8,469)          (1,211)



          
            Net loss                                     (362,871)                             (186,896)                                   (26,727)                                  (601,586)                                  (235,152)         (33,625)



          Less: net income attributable to                              3,913                                  3,843                                         550                                      15,971                                      22,561             3,226
noncontrolling interests



          
            Net loss attributable to Cheetah             (366,784)                             (190,739)                                   (27,277)                                  (617,557)                                  (257,713)         (36,851)
Mobile shareholders





          
            Net loss per share



          Basic                                                      (0.2438)                              (0.1262)                                   (0.0180)                                   (0.4161)                                   (0.1754)         (0.0251)



          Diluted                                                    (0.2439)                              (0.1262)                                   (0.0180)                                   (0.4162)                                   (0.1764)         (0.0252)





          
            Net loss per ADS



          Basic                                                     (12.1907)                              (6.3082)                                   (0.9000)                                  (20.8042)                                   (8.7724)         (1.2550)



          Diluted                                                   (12.1947)                              (6.3082)                                   (0.9000)                                  (20.8097)                                   (8.8185)         (1.2600)





          
            Weighted average number of shares
outstanding



          Basic                                                 1,512,707,145                          1,550,604,238                               1,550,604,238                               1,503,054,847                               1,533,473,068     1,533,473,068



          Diluted                                               1,512,707,145                          1,550,604,238                               1,550,604,238                               1,503,054,847                               1,533,473,068     1,533,473,068



          
            Weighted average number of ADSs
outstanding



          Basic                                                    30,254,143                             31,012,085                                  31,012,085                                  30,061,097                                  30,669,461        30,669,461



          Diluted                                                  30,254,143                             31,012,085                                  31,012,085                                  30,061,097                                  30,669,461        30,669,461





          
            Other comprehensive income/(loss) ,
net of tax of nil



          Foreign currency translation adjustments                     51,667                               (25,511)                                    (3,648)                                     49,045                                    (50,422)          (7,210)



          Unrealized gains/(losses) on available-                       7,277                                (5,541)                                      (792)                                      2,642                                       1,121               160
for-sale securities, net



          
            Other comprehensive income/(loss)               58,944                               (31,052)                                    (4,440)                                     51,687                                    (49,301)          (7,050)



          
            Total comprehensive loss                     (303,927)                             (217,948)                                   (31,167)                                  (549,899)                                  (284,453)         (40,675)



          
            Less: Total comprehensive income                 2,199                                  1,889                                         270                                      14,089                                      21,438             3,066
attributable to noncontrolling
interests



          
            Total comprehensive loss attributable to     (306,126)                             (219,837)                                   (31,437)                                  (563,988)                                  (305,891)         (43,741)
Cheetah Mobile shareholders




                                                                  For The Three Months Ended                                                                  
          
            For The Year Ended


                                                                  December 31,                          December 31,                               December 31,                               December 31,                               December 31,     December 31,
                                                                          2024                                   2025                                        2025                                        2024                                        2025              2025



          
            (a) Share-based compensation expenses          RMB                                   RMB                                        USD                                        RMB                                        RMB              USD



          Cost of revenues                                              (460)                                     2                                                                                     81                                          16                 2



          Research and development                                      1,280                                  1,007                                         144                                       1,924                                       1,193               171



          Selling and marketing                                         (495)                                   290                                          41                                       (662)                                        773               111



          General and administrative                                    4,819                                  7,867                                       1,125                                      24,758                                      17,858             2,554



          
            Total                                            5,144                                  9,166                                       1,310                                      26,101                                      19,840             2,838

                                                                                                                                                                                                                                                
          
            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 December 31, 2025                                                                           
          
            For The Year Ended December 31, 2025


                                                GAAP   Share-based              Amortization                           Impairment               Non-GAAP              GAAP                  Share-based                            Amortization                           Impairment                        Non-GAAP
                                                                       of                                                                                                                                                 of


                                                Result Compensation              intangible                                of                    Result              Result                 Compensation                            intangible                                of
                                                                                                                        goodwill                                                                                                                                             goodwill                          Result
                                                                     assets*                                 and                                                                                                        assets*                                 and
                                                                                                                intangible                                                                                                                                         intangible
                                                                                                           assets                                                                                                                                             assets


                                                RMB         RMB                      RMB                                   RMB           RMB                 USD         RMB                       RMB                                    RMB                                   RMB               RMB                    USD



          Revenues                            308,851                                                                                308,851               44,165     1,150,444                                                                                                                1,150,444                 164,511



          Cost of revenues                  (103,475)            2                                                                 (103,473)            (14,797)    (316,411)                           16                                                                                   (316,395)               (45,244)



          Gross profit                        205,376             2                                                                   205,378               29,368       834,033                            16                                                                                     834,049                 119,267





          Research and development          (149,863)        1,007                   108,471                                         (40,385)             (5,775)    (346,152)                        1,193                                 127,171                                            (217,788)               (31,143)



          Selling and marketing              (72,657)          290                     2,070                                         (70,297)            (10,053)    (362,735)                          773                                   5,078                                            (356,884)               (51,033)



          General and administrative         (87,101)        7,867                                                                  (79,234)            (11,330)    (266,522)                       17,858                                                                                   (248,664)               (35,558)



          Impairment of goodwill and         (41,563)                                                                     41,563                                     (41,563)                                                                                                   41,563
intangible assets



          Other operating income, net              31                                                                                     31                    4         3,496                                                                                                                    3,496                     500



          Total operating income and        (351,153)        9,164                   110,541                                41,563   (189,885)            (27,154)  (1,013,476)                       19,824                                 132,249                                41,563       (819,840)              (117,234)
expenses





          Operating (loss)/income           (145,777)        9,166                   110,541                                41,563      15,493                2,214     (179,443)                       19,840                                 132,249                                41,563          14,209                   2,033



          Net loss attributable to Cheetah  (190,739)        9,166                   110,541                                41,563    (29,469)             (4,217)    (257,713)                       19,840                                 132,249                                41,563        (64,061)                (9,159)
Mobile shareholders





          Diluted losses per ordinary share  (0.1262)       0.0059                    0.0714                                0.0268    (0.0221)                         (0.1764)                       0.0129                                  0.0863                                0.0271        (0.0501)
(RMB)



          Diluted losses per ADS (RMB)       (6.3082)       0.2950                    3.5682                                1.3400    (1.1050)                         (8.8185)                       0.6450                                  4.3135                                1.3550        (2.5050)



          Diluted losses per ADS (USD)       (0.9000)       0.0422                    0.5082                                0.1916    (0.1580)                         (1.2600)                       0.0922                                  0.6158                                0.1938        (0.3582)



                                                                           For The Three Months Ended December 31, 2024                                                                 For The Year Ended December 31, 2024


                                                      GAAP   Share-based                       Amortization                       Impairment   Non-GAAP       GAAP      Share-based                            Amortization
                                                                                                of                                                                                                              of                        Impairment      Non-GAAP


                                                      Result Compensation                       intangible                            of        Result        Result    Compensation                            intangible                    of
                                                                                                                                   goodwill                                                                                                goodwill        Result
                                                                                      assets*                             and                                                                         assets*                     and
                                                                                                                             intangible                                                                                              intangible
                                                                                                                        assets                                                                                                  assets


                                                        RMB       RMB                               RMB                           RMB             RMB           RMB          RMB                                    RMB                       RMB            RMB



          Revenues                                  237,089                                                                                     237,089       806,877                                                                                        806,877



          Cost of revenues                         (64,317)        (460)                                                                      (64,777)    (261,682)              81                                                                      (261,601)



          Gross profit                              172,772         (460)                                                                       172,312       545,195               81                                                                        545,276





          Research and development                 (65,506)        1,280                              6,156                                     (58,070)    (243,391)           1,924                                  24,624                               (216,843)



          Selling and marketing                   (104,851)        (495)                               469                                    (104,877)    (342,421)           (662)                                  1,876                               (341,207)



          General and administrative               (56,281)        4,819                                                                       (51,462)    (244,385)          24,758                                                                      (219,627)



          Impairment of goodwill and intangible   (152,890)                                                                         152,890                (152,890)                                                                         152,890
assets



          Other operating income, net                 (377)                                                                                      (377)          637                                                                                            637



          Total operating income and expenses     (379,905)        5,604                              6,625                           152,890   (214,786)    (982,450)          26,020                                  26,500                   152,890      (777,040)





          Operating loss                          (207,133)        5,144                              6,625                           152,890    (42,474)    (437,255)          26,101                                  26,500                   152,890      (231,764)



          Net loss attributable to Cheetah Mobile (366,784)        5,144                              6,625                           152,890   (202,125)    (617,557)          26,101                                  26,500                   152,890      (412,066)
shareholders





          Diluted losses per ordinary share (RMB)  (0.2439)       0.0034                             0.0044                            0.1011    (0.1350)     (0.4162)          0.0174                                  0.0176                    0.1017       (0.2795)



          Diluted losses per ADS (RMB)            (12.1947)       0.1700                             0.2200                            5.0547    (6.7500)    (20.8097)          0.8700                                  0.8800                    5.0847      (13.9750)


 * 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 December 31, 2025                                                                                        For The Year Ended December 31, 2025


                                                       Internet             AI and                                     Consolidated                                        Internet                                AI and
                                                        Business             others                                                                                             Business                                others                            Consolidated


                                                          RMB                 RMB                                RMB                         USD                                  RMB                                    RMB                    RMB                         USD



 
            Revenues                                  155,896             152,955                           308,851                       44,165                                  615,281                                535,163             1,150,444                      164,511



 
            Operating Costs and expenses



 Cost of revenues(i)                                     31,300              72,173                           103,473                       14,797                                  106,606                                209,789               316,395                       45,244



 Selling and marketing(i)                                45,326              27,041                            72,367                       10,349                                  220,312                                141,650               361,962                       51,759



 Research and development(i)                             10,367             138,489                           148,856                       21,286                                  110,060                                234,899               344,959                       49,328



 Other segment items(i)                                  22,237              98,529                           120,766                       17,269                                   63,436                                223,295               286,731                       41,001



 
            Adjusted operating income/(losses)         46,666           (183,277)                        (136,611)                    (19,536)                                 114,867                              (274,470)            (159,603)                    (22,821)



 Unallocated amounts-share based compensations                                                              (9,166)                     (1,310)                                                                                           (19,840)                     (2,838)



 
            Operating loss                                                                              (145,777)                    (20,846)                                                                                          (179,443)                    (25,659)



 
            Reconciliation of segment profit/(loss)



 Interest income, net                                                                                         5,484                          784                                                                                              30,629                        4,380



 Foreign exchange gains, net                                                                                 14,156                        2,024                                                                                              30,783                        4,402



 Other expense, net                                                                                        (74,481)                    (10,651)                                                                                          (108,652)                    (15,537)



 
            Loss before income taxes                                                                    (200,618)                    (28,689)                                                                                          (226,683)                    (32,414)

                                                                For The Three Months Ended December 31,
                                                                    2024                                                                      For The Year Ended December 31, 2024


                                                                Internet                                AI and others  Consolidated               Internet                         AI and
                                                                                                                                                                                    others     Consolidated
                                                       Business                                                                       Business


                                                                   RMB                                       RMB            RMB                      RMB                             RMB            RMB



 
            Revenues                                          160,152                                        76,937        237,089                 517,188                          289,689           806,877



 
            Operating Costs and expenses



 Cost of revenues(i)                                             21,174                                        43,603         64,777                  79,812                          181,789           261,601



 Selling and marketing(i)                                        70,243                                        35,103        105,346                 200,945                          142,138           343,083



 Research and development(i)                                     30,651                                        33,575         64,226                 115,476                          125,991           241,467



 Other segment items(i)                                          11,877                                       192,852        204,729                  58,122                          313,758           371,880



 
            Adjusted operating income/(losses)                 26,207                                     (228,196)     (201,989)                 62,833                        (473,987)        (411,154)



 Unallocated amounts-share based compensations                                                                             (5,144)                                                                (26,101)



 
            Operating loss                                                                                             (207,133)                                                               (437,255)



 
            Reconciliation of segment profit/(loss)



 Interest income, net                                                                                                        9,862                                                                   44,422



 Foreign exchange gains, net                                                                                              (32,236)                                                                (21,726)



 Other expense, net                                                                                                       (82,300)                                                               (139,769)



 
            Loss before income taxes                                                                                   (311,807)                                                               (554,328)


 (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 Year Ended


                                                     December 31,            December 31,                         December 31,                               December 31,                               December 31,     December 31,
                                                             2024                     2025                                  2025                                        2024                                        2025              2025


                                                     RMB                     RMB                                  USD                                        RMB                                        RMB              USD



          Net loss attributable to Cheetah Mobile      (366,784)               (190,739)                             (27,277)                                  (617,557)                                  (257,713)         (36,851)
shareholders



          Add:



          Income tax expenses/(benefits)                  51,064                 (13,722)                              (1,962)                                     47,258                                       8,469             1,211



          Interest income, net                           (9,862)                 (5,484)                                (784)                                   (44,422)                                   (30,629)          (4,380)



          Depreciation and other amortization             14,619                  114,426                                16,363                                      51,453                                     147,235            21,054



          Net income attributable to noncontrolling        3,913                    3,843                                   550                                      15,971                                      22,561             3,226
interests



          Other expense, net                             114,536                   60,325                                 8,627                                     161,495                                      77,869            11,135



          Share-based compensation                         5,144                    9,166                                 1,310                                      26,101                                      19,840             2,838



          Impairment of goodwill and intangible          152,890                   41,563                                 5,943                                     152,890                                      41,563             5,943
assets



          
            Adjusted EBITDA                  (34,480)                  19,378                                 2,770                                   (206,811)                                     29,195             4,176

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SOURCE Cheetah Mobile

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