{"success":true,"data":{"pressRelease":{"id":"141160","rtpr_id":"nPn5rvf8sa-20260911","ticker":"CMCM","exchange":"NYSE","all_tickers":["CMCM","0C9Y"],"title":"Cheetah Mobile Announces Second Quarter 2026 Unaudited Consolidated Financial Results","author":"PR Newswire","published_at":"2026-09-11T02:36:58.779Z","article_body":"Cheetah Mobile Announces Second Quarter 2026 Unaudited Consolidated Financial Results\nPR Newswire\n\nBEIJING, Sept. 10, 2026\n\n * Services of cloud and AI infrastructure revenue increased 83.1% year over year\nand 26.2% quarter over quarter, accounting for 72.8% of Global Enterprise\nServices revenue and 22.2% of total revenues and making a positive\ncontribution to the adjusted operating results of Global Enterprise Services.\n * Robotics and others revenue increased 72.5% year over year and 6.4% quarter\nover quarter, accounting for 20.5% of total revenues.\nBEIJING, Sept. 10, 2026 /PRNewswire/ -- Cheetah Mobile Inc. (\"Cheetah Mobile\"\nor the \"Company\") (NYSE: CMCM), a China-based IT company with a commitment to\nAI innovation, today announced its unaudited consolidated financial results\nfor the quarter ended June 30, 2026.\n\nFinancial Highlights\n\n * Total revenues were RMB266.1 million (US$39.2 million) in the second quarter\nof 2026, representing a decrease of 9.9% year over year and an increase of\n2.7% quarter over quarter.\n * * Advertising agency services revenue, which is included in the Global\nEnterprise Services segment, decreased 70.0% year over year and 15.0% quarter\nover quarter to RMB22.0 million, primarily due to changes in rebate policies\nimplemented by a major global advertising platform. Its contribution to total\nrevenues declined to 8.3% from 24.9% in the same period last year. Revenues\nexcluding advertising agency services were RMB244.1 million, increasing\napproximately 10.1% year over year and 4.7% quarter over quarter. The decline\nin advertising agency services revenue was a significant factor in the\nyear-over-year increase in the Company's operating loss in the second quarter\nof 2026.\n * * In the Global Enterprise Services segment, revenues from services of cloud\nand\nAI infrastructure increased 83.1% year over year and 26.2% quarter over\nquarter to RMB59.1 million, accounting for 72.8% of Global Enterprise Services\nrevenue and 22.2% of total revenues, compared with approximately 10.9% of\ntotal revenues in the same period last year. The increase was driven by\ngrowing demand from enterprises expanding overseas for cloud resources,\ncomputing power and AI model services.\n * Robotics and others revenue increased 72.5% year over year and 6.4% quarter\nover quarter to RMB54.5 million, accounting for 20.5% of total revenues,\ndriven by an increase in sales volume of our robotic products. The\nyear-over-year increase benefited from the contribution of UFACTORY, a\nprovider of lightweight robotic arms acquired by the Company on July 29, 2025.\n * Internet value-added services revenue, which is included in the Internet\nServices segment, increased 6.7% year over year and 2.9% quarter over quarter\nto RMB101.2 million, accounting for 77.6% of segment revenue, and 38.0% of\ntotal revenues, due to increase in user base and distribution channels.\nBalance Sheet\n\n * As of June 30, 2026, the Company had RMB1,271.0 million (US$187.3 million) in\ncash and cash equivalents.\nManagement Commentary\n\nFu Sheng, Chief Executive Officer of Cheetah Mobile, commented: \"During the\nsecond quarter, we continued to evolve our business mix, with revenue from\nservices of cloud and AI infrastructure within Global Enterprise Services\ngrowing 83.1% year over year, driven by demand from enterprises expanding\noverseas for cloud and AI infrastructure services, accounting for 22.2% total\nrevenues in the quarter. Gross billings([1]) from services of cloud and AI\ninfrastructure exceeded RMB500 million during the quarter, compared with about\nRMB200 million in the same period last year and about RMB300 million in the\nprevious quarter, reflecting the rapid expansion of customer demand and\nbusiness scale. Robotics and others revenue increased 72.5% year over year and\naccounted for 20.5% of total revenues in the quarter, with new initiatives\nsuch as smart mobility beginning to contribute revenue. The growth of these\nAI-related businesses underscores the progress of our AI-driven\ntransformation.\n\nInternet Services remained a stable foundation for our business. Internet\nvalue-added services revenue increased both year over year and sequentially\nand represented 77.6% of segment revenue. While advertising agency services\nrevenue within Global Enterprise Services remained under pressure, growth in\nservices of cloud and AI infrastructure and Robotics and others supported the\nCompany's return to sequential revenue growth while strengthening our\nfoundation for future growth.\"\n [1] Gross billings from services of cloud and AI infrastructure is an\n operating metric representing the aggregate monetary value of customers'\n consumption of public cloud resources and AI model tokens provided or arranged\n by the Company during the relevant period.\n\nThomas Ren, Chief Financial Officer of Cheetah Mobile, commented:\n\"Second-quarter revenue increased 2.7% sequentially. Operating loss was\nRMB33.6 million, compared with RMB28.3 million in the previous quarter, while\nnon-GAAP operating loss remained relatively stable at RMB25.6 million,\ncompared with RMB22.5 million in the previous quarter.\n\nThe sequential movement in non-GAAP operating loss reflected higher adjusted\noperating profit in Internet Services, offset by lower adjusted operating\nprofit in Global Enterprise Services resulting from lower advertising agency\nservices revenue, as well as a wider adjusted operating loss in Robotics and\nothers. Adjusted operating profit from Internet Services increased 14.2% year\nover year and 67.2% sequentially, with adjusted operating margin improving to\n19.4%. Services of cloud and AI infrastructure continued to scale rapidly.\nHowever, the growth of cloud and AI infrastructure services partially offset\nthe negative impact of lower advertising agency services revenue on the\nsegment's adjusted operating profit. We ended the quarter with US$187.3\nmillion in cash and cash equivalents, providing us with the flexibility to\ninvest prudently in our AI and robotics businesses.\"\n\nSecond Quarter 2026 Financial Results\n\nTotal revenues decreased 9.9% year over year and increased 2.7% quarter over\nquarter to RMB266.1 million (US$39.2 million).\n\n * Internet Services revenue decreased 17.3% year over year and 3.4% quarter over\nquarter to RMB130.5 million (US$19.2 million).\n * * Within the segment, internet value-added services revenue increased 6.7%\nyear\nover year and 2.9% quarter over quarter to RMB101.2 million, accounting for\n77.6% of segment revenue.\n * Online advertising revenue decreased 53.5% year over year and 20.2% quarter\nover quarter to RMB29.3 million, accounting for 22.4% of segment revenue.\n * Global Enterprise Services revenue decreased 23.3% year over year and\nincreased 11.5% quarter over quarter to RMB81.1 million (US$12.0 million).\n * * Services of cloud and AI infrastructure revenue, which is included in this\nsegment, increased 83.1% year over year and 26.2% quarter over quarter to\nRMB59.1 million, accounting for 72.8% of segment revenue.\n * Advertising agency services revenue decreased 70.0% year over year and 15.0%\nquarter over quarter to RMB22.0 million, accounting for 27.2% of segment\nrevenue.\n * Robotics and others revenue increased 72.5% year over year and 6.4% quarter\nover quarter to RMB54.5 million (US$8.0 million).\nOperating loss was RMB33.6 million (US$5.0 million), compared with RMB11.1\nmillion in the same period last year and RMB28.3 million in the first quarter\nof 2026.\n\nNon-GAAP operating loss was RMB25.6 million (US$3.8 million), compared with\nRMB2.1 million in the same period last year and RMB22.5 million in the first\nquarter of 2026. The year-over-year increase primarily reflected lower\nadvertising agency services revenue within the Global Enterprise Services\nsegment.\n\n * Adjusted operating profit from Internet Services was RMB25.4 million,\nincreasing by 14.2% year over year and 67.2% quarter over quarter. Adjusted\noperating margin for the segment expanded to 19.4%, compared with 14.1% in the\nsame period last year and 11.3% in the first quarter of 2026.\n * Adjusted operating profit from Global Enterprise Services was RMB9.3 million,\ndecreasing by 80.7% year over year and 32.0% quarter over quarter, primarily\nreflecting lower advertising agency services revenue. The continued strong\ngrowth of services of cloud and AI infrastructure provided a positive\ncontribution to the segment's adjusted operating results.\n * Adjusted operating loss from Robotics and others was RMB34.0 million,\nnarrowing by 35.5% from RMB52.7 million in the same period last year, but\nwidening from RMB26.9 million in the first quarter of 2026, as the Company\ncontinued to invest in the development and commercialization of its robotics\nbusinesses.\nConference Call Information\n\nCheetah Mobile's management will hold an earnings conference call at 11:30 AM\non Friday, September 11, 2026, Beijing Time (11:30 PM on Thursday, September\n10, 2026, U.S. Eastern Time).\n\nMain Conference:\nTencent Meeting ID: 175-882-665\n\nMeeting Link: https://cmcm.meeting.tencent.com/dm/3QuXIZPgSezq\n(https://cmcm.meeting.tencent.com/dm/3QuXIZPgSezq)\n\nDial-in Numbers:\nUnited States: +1 4153389272\nMainland China: +86 (0)755 36550000\nHong Kong: +852 30088359\n\nEnglish Interpretation:\nTencent Meeting ID: 845-329-676\n\nMeeting Link: https://cmcm.meeting.tencent.com/dm/t07drnN5B7fM\n(https://cmcm.meeting.tencent.com/dm/t07drnN5B7fM)\n\nDial-in Numbers:\nUnited States: +1 4153389272\nMainland China: +86 (0)755 36550000\nHong Kong Toll Free: +852 30088359\n\nExchange Rate\n\nUnless otherwise noted, all translations from Renminbi to U.S. dollars were\nmade at a rate of RMB6.7851 to US$1.00, the exchange rate in effect as of June\n30, 2026, as set forth in the H.10 statistical release of the Federal Reserve\nBoard. Such translations should not be construed as representations that RMB\namounts could be converted into U.S. dollars at that rate or any other rate.\n\nAbout Cheetah Mobile Inc.\n\nCheetah Mobile is a China-based IT company with a commitment to AI innovation.\nIt has developed and launched a diversified suite of software products for PCs\nand mobile devices, designed to address users' needs in document processing,\nsystem optimization, image editing and web browsing, AI agent products, among\nothers. Cheetah Mobile provides advertising services to advertisers worldwide,\nvalue-added services including the sale of premium membership to its users,\nservices of cloud and AI infrastructure to companies globally, as well as\nrobotic products to international clients. At the same time, it actively\nengages in research and development of advanced technologies to empower its\nproducts and services. Cheetah Mobile has been listed on the New York Stock\nExchange since May 2014.\n\nSafe Harbor Statement\n\nThis press release contains forward-looking statements. These statements,\nincluding management quotes and business outlook, constitute forward-looking\nstatements under the U.S. Private Securities Litigation Reform Act of 1995.\nThese forward-looking statements can be identified by terminology such as\n\"will,\" \"expects,\" \"anticipates,\" \"future,\" \"intends,\" \"plans,\" \"believes,\"\n\"estimates\" and similar statements. Such statements involve inherent risks and\nuncertainties. A number of factors could cause actual results to differ\nmaterially from those contained in the forward-looking statements, including\nthe Company's growth strategies, ability to retain and increase its user base,\nexpand its offerings, monetize its platform, and future business development,\nfinancial condition and results of operations; competition; expected changes\nin revenues and expenses; and general economic and business conditions\nglobally and in China. Further information regarding these and other risks is\nincluded in the Company's filings with the U.S. Securities and Exchange\nCommission. The Company does not undertake any obligation to update any\nforward-looking statement, except as required by law.\n\nUse of Non-GAAP Financial Measures\n\nThis release contains non-GAAP financial measures, including but not limited\nto:\n\n * Non-GAAP cost of revenues excludes share-based compensation expenses;\n * Non-GAAP gross profit excludes share-based compensation expenses;\n * Non-GAAP gross margin excludes share-based compensation expenses;\n * Total non-GAAP operating expenses exclude share-based compensation expenses,\namortization of intangible assets resulting from business acquisitions;\n * Non-GAAP research and development expenses exclude share-based compensation\nexpenses, amortization of intangible assets resulting from business\nacquisitions;\n * Non-GAAP selling and marketing expenses exclude share-based compensation\nexpenses, amortization of intangible assets resulting from business\nacquisitions;\n * Non-GAAP general and administrative expenses exclude share-based compensation\nexpenses;\n * Non-GAAP operating profit/loss excludes share-based compensation expenses,\namortization of intangible assets resulting from business acquisitions;\n * Non-GAAP net income/loss attributable to Cheetah Mobile shareholders excludes\nshare-based compensation expenses, amortization of intangible assets resulting\nfrom business acquisitions;\n * Non-GAAP diluted earnings/losses per ADS excludes share-based compensation\nexpenses, amortization of intangible assets resulting from business\nacquisitions.\nThe Company reviews these non-GAAP financial measures together with GAAP\nfinancial measures to obtain a better understanding of its operating\nperformance. It uses the non-GAAP financial measures for planning, forecasting\nand measuring results against the forecast. The Company believes that non-GAAP\nfinancial measures are useful supplemental information for investors and\nanalysts to assess its operating performance without the effect of share-based\ncompensation expenses, amortization of intangible assets resulting from\nbusiness acquisitions, which have been and will continue to be significant\nrecurring expenses in its business, as well as impairment of goodwill and\nintangible assets resulting from business acquisitions. However, the use of\nnon-GAAP financial measures has material limitations as an analytical tool.\nOne of the limitations of using non-GAAP financial measures is that they do\nnot include all items that impact the Company's net income for the period. In\naddition, because non-GAAP financial measures are not measured in the same\nmanner by all companies, they may not be comparable to other similarly titled\nmeasures used by other companies. In light of the foregoing limitations, you\nshould not consider non-GAAP financial measure in isolation from or as an\nalternative to the financial measure prepared in accordance with U.S. GAAP.\nFor more information on these non-GAAP financial measures, please see the\ntables captioned \"Cheetah Mobile Inc. Reconciliation of GAAP and non-GAAP\nResults\".\n\nInvestor Relations Contact\n\nHelen Jing Zhu\nCheetah Mobile Inc.\nTel: +86 13811591550\nEmail: ir@cmcm.com (mailto:ir@cmcm.com)\n\n \n CHEETAH MOBILE INC.\n Condensed Consolidated Balance Sheets\n (Unaudited, amounts in thousands of Renminbi (\"RMB\") and US dollars (\"US$\"))\n\n As of\n December 31, 2025 June 30, 2026\n RMB RMB USD\n ASSETS\n Current assets:\n Cash and cash equivalents 1,506,625 1,270,969 187,318\n Short-term investments 9,527 445 66\n Accounts receivable, net 468,058 689,708 101,650\n Prepayments and other current assets, net 1,154,774 1,170,431 172,498\n Due from related parties, net 94,821 134,754 19,860\n Total current assets 3,233,805 3,266,307 481,392\n\n Non-current assets:\n Property and equipment, net 40,238 40,730 6,003\n Operating lease right-of-use assets 16,833 17,828 2,628\n Intangible assets, net 54,069 48,191 7,102\n Goodwill 460,034 460,034 67,801\n Long-term investments 688,459 600,054 88,437\n Deferred tax assets 112,913 117,674 17,343\n Other non-current assets 77,521 89,403 13,176\n Total non-current assets 1,450,067 1,373,914 202,490\n\n Total assets 4,683,872 4,640,221 683,882\n\n LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY\n Current liabilities:\n Bank Loans - 2,900 427\n Accounts payable 211,689 413,198 60,898\n Accrued expenses and other current liabilities 2,264,659 2,163,995 318,933\n Due to related parties 18,613 25,199 3,714\n Income tax payable 54,430 56,356 8,306\n Total current liabilities 2,549,391 2,661,648 392,278\n\n Non-current liabilities:\n Deferred tax liabilities 21,711 20,555 3,029\n Other non-current liabilities 154,422 155,175 22,870\n Total non-current liabilities 176,133 175,730 25,899\n\n Total liabilities 2,725,524 2,837,378 418,177\n\n Mezzanine equity:\n Redeemable noncontrolling interests 197,560 200,903 29,609\n\n Shareholders' equity:\n Ordinary shares 254 257 38\n Additional paid-in capital 2,736,117 2,739,942 403,817\n Accumulated deficit (1,490,947) (1,603,338) (236,303)\n Accumulated other comprehensive income 362,245 297,692 43,874\n Total Cheetah Mobile Inc. shareholders' equity 1,607,669 1,434,553 211,426\n Noncontrolling interests 153,119 167,387 24,670\n\n Total shareholders' equity 1,760,788 1,601,940 236,096\n\n Total liabilities, mezzanine equity and shareholders' equity 4,683,872 4,640,221 683,882\n\n \n CHEETAH MOBILE INC.\n Condensed Consolidated Statements of Comprehensive Loss\n (Unaudited, amounts in thousands of Renminbi (\"RMB\") and US dollars (\"US$\"),\n except for number of shares and per share(or ADS) data)\n\n For The Three Months Ended For The Six Months Ended\n June 30, 2025 June 30, 2026 June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2026\n RMB RMB USD RMB RMB USD\n Revenues 295,218 266,115 39,220 554,224 525,108 77,391\n Internet Services 157,837 130,474 19,229 316,978 265,479 39,127\n Global Enterprise Services 105,788 81,134 11,958 187,085 153,884 22,680\n Robotics and others 31,593 54,507 8,033 50,161 105,745 15,584\n Cost of revenues (a) (70,426) (97,490) (14,368) (139,931) (189,921) (27,991)\n Gross profit 224,792 168,625 24,852 414,293 335,187 49,400\n\n Operating income and expenses:\n Research and development (a) (67,083) (58,764) (8,661) (128,327) (116,486) (17,168)\n Selling and marketing (a) (102,434) (74,654) (11,003) (207,272) (146,368) (21,572)\n General and administrative (a) (66,627) (68,735) (10,130) (119,251) (134,871) (19,878)\n Other operating income/(expense) 289 (67) (10) 2,959 655 97\n Total operating income and expenses (235,855) (202,220) (29,804) (451,891) (397,070) (58,521)\n\n Operating loss (11,063) (33,595) (4,952) (37,598) (61,883) (9,121)\n Other income/(expenses):\n Interest income, net 9,980 3,201 472 15,585 6,623 976\n Foreign exchange gains 6,349 20,764 3,060 7,999 40,016 5,898\n Other expense, net (17,844) (68,707) (10,126) (21,853) (67,386) (9,931)\n\n Loss before income taxes (12,578) (78,337) (11,546) (35,867) (82,630) (12,178)\n Income tax expenses (3,865) (8,199) (1,208) (8,685) (15,822) (2,332)\n Net loss (16,443) (86,536) (12,754) (44,552) (98,452) (14,510)\n Less: net income attributable to noncontrolling 6,200 8,375 1,234 11,448 13,939 2,054\n interests\n Net loss attributable to Cheetah Mobile (22,643) (94,911) (13,988) (56,000) (112,391) (16,564)\n shareholders\n\n Net loss per share\n Basic (0.0162) (0.0619) (0.0091) (0.0397) (0.0745) (0.0110)\n Diluted (0.0163) (0.0620) (0.0091) (0.0398) (0.0747) (0.0110)\n\n Net loss per ADS\n Basic (0.8116) (3.0927) (0.4550) (1.9861) (3.7245) (0.5500)\n Diluted (0.8152) (3.1003) (0.4550) (1.9923) (3.7337) (0.5500)\n\n Weighted average number of shares\n outstanding\n 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\n 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\n Weighted average number of ADSs\n outstanding\n Basic 30,367,638 31,077,579 31,077,579 30,341,690 31,058,552 31,058,552\n Diluted 30,367,638 31,077,579 31,077,579 30,341,690 31,058,552 31,058,552\n\n Other comprehensive loss , net of tax of nil\n Foreign currency translation adjustments (7,643) (31,282) (4,610) (7,915) (62,442) (9,203)\n Unrealized gains/(loss) on available-for-sale 188 (4,348) (641) 2,848 (3,763) (555)\n securities, net\n Other comprehensive loss (7,455) (35,630) (5,251) (5,067) (66,205) (9,758)\n Total comprehensive loss (23,898) (122,166) (18,005) (49,619) (164,657) (24,268)\n Less: Total comprehensive income 7,113 7,556 1,114 13,775 12,287 1,811\n attributable to\n noncontrolling interests\n Total comprehensive loss attributable (31,011) (129,722) (19,119) (63,394) (176,944) (26,079)\n to Cheetah Mobile shareholders\n\n \n\n \n For The Three Months Ended For The Six Months Ended\n June 30, 2025 June 30, 2026 June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2026\n (a) Share-based compensation expenses RMB RMB USD RMB RMB USD\n Cost of revenues 5 - - 10 - -\n Research and development 62 1,197 176 358 2,129 314\n Selling and marketing 229 521 77 300 1,026 151\n General and administrative 2,065 3,953 583 7,277 5,997 884\n Total 2,361 5,671 836 7,945 9,152 1,349\n\n \n\n \n CHEETAH MOBILE INC.\n Reconciliation of GAAP and Non-GAAP Results\n (Unaudited, amounts in thousands of Renminbi (\"RMB\") and US dollars (\"US$\"),\n except for per share data )\n\n For The Three Months Ended June 30, 2026 For The Six Months Ended June 30, 2026\n GAAP Share-based Amortization of Non-GAAP GAAP Share-based Amortization of Non-GAAP\n Result Compensation intangible assets* Result Result Compensation intangible assets* Result\n RMB RMB RMB RMB USD RMB RMB RMB RMB USD\n Revenues 266,115 - - 266,115 39,220 525,108 - - 525,108 77,391\n Cost of revenues (97,490) - - (97,490) (14,368) (189,921) - - (189,921) (27,991)\n Gross profit 168,625 - - 168,625 24,852 335,187 - - 335,187 49,400\n\n Research and development (58,764) 1,197 232 (57,335) (8,451) (116,486) 2,129 463 (113,894) (16,786)\n Selling and marketing (74,654) 521 2,071 (72,062) (10,621) (146,368) 1,026 4,141 (141,201) (20,811)\n General and administrative (68,735) 3,953 - (64,782) (9,547) (134,871) 5,997 - (128,874) (18,994)\n Other operating (expense)/income, net (67) - - (67) (10) 655 - - 655 97\n 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)\n\n Operating loss (33,595) 5,671 2,303 (25,621) (3,777) (61,883) 9,152 4,604 (48,127) (7,094)\n Net loss attributable to Cheetah Mobile (94,911) 5,671 2,303 (86,937) (12,813) (112,391) 9,152 4,604 (98,635) (14,537)\n shareholders\n\n Diluted losses per ordinary share (RMB) (0.0620) 0.0036 0.0015 (0.0569) (0.0747) 0.0059 0.0030 (0.0658)\n Diluted losses per ADS (RMB) (3.1003) 0.1800 0.0753 (2.8450) (3.7337) 0.2950 0.1487 (3.2900)\n Diluted losses per ADS (USD) (0.4550) 0.0265 0.0111 (0.4193) (0.5500) 0.0435 0.0219 (0.4849)\n\n \n\n \n For The Three Months Ended June 30, 2025 For The Six Months Ended June 30, 2025\n GAAP Share-based Amortization of Non-GAAP GAAP Share-based Amortization of Non-GAAP\n Result Compensation intangible assets* Result Result Compensation intangible assets* Result\n RMB RMB RMB RMB RMB RMB RMB RMB\n Revenues 295,218 - - 295,218 554,224 - - 554,224\n Cost of revenues (70,426) 5 - (70,421) (139,931) 10 - (139,921)\n Gross profit 224,792 5 - 224,797 414,293 10 - 414,303\n\n Research and development (67,083) 62 6,156 (60,865) (128,327) 358 12,312 (115,657)\n Selling and marketing (102,434) 229 469 (101,736) (207,272) 300 938 (206,034)\n General and administrative (66,627) 2,065 - (64,562) (119,251) 7,277 - (111,974)\n Other operating income, net 289 - - 289 2,959 - - 2,959\n Total operating income and expenses (235,855) 2,356 6,625 (226,874) (451,891) 7,935 13,250 (430,706)\n\n Operating loss (11,063) 2,361 6,625 (2,077) (37,598) 7,945 13,250 (16,403)\n Net loss attributable to Cheetah Mobile (22,643) 2,361 6,625 (13,657) (56,000) 7,945 13,250 (34,805)\n shareholders\n\n Diluted losses per ordinary share (RMB) (0.0163) 0.0016 0.0043 (0.0104) (0.0398) 0.0052 0.0086 (0.0260)\n Diluted losses per ADS (RMB) (0.8152) 0.0800 0.2152 (0.5200) (1.9923) 0.2600 0.4323 (1.3000)\n\n* This represents amortization of intangible assets resulting from business\nacquisitions.\n\n \n CHEETAH MOBILE INC.\n Information about Segment\n (Unaudited, amounts in thousands of Renminbi (\"RMB\") and US dollars (\"US$\"),\n except for percentage)\n\n For The Three Months Ended June 30, 2026 For The Six Months Ended June 30, 2026\n Internet Services Global Enterprise Services Robotics and others Consolidated Internet Services Global Enterprise Services Robotics and others Consolidated\n RMB RMB RMB RMB USD RMB RMB RMB RMB USD\n Revenues from external customers 130,474 81,134 54,507 266,115 39,220 265,479 153,884 105,745 525,108 77,391\n Inter-segment revenues 347 13,324 - 13,671 2,015 347 24,454 - 24,801 3,655\n\n Segment revenue 130,821 94,458 54,507 279,786 41,235 265,826 178,338 105,745 549,909 81,046\n Elimination of inter-segment revenue (13,671) (2,015) (24,801) (3,655)\n Consolidated Revenues 266,115 39,220 525,108 77,391\n Operating Costs and expenses\n Cost of revenues((i)) 31,081 40,373 36,616 60,238 84,313 63,074\n Selling and marketing((i)) 33,373 17,727 19,038 73,022 26,907 38,785\n Research and development((i)) 29,325 1,050 28,640 58,317 1,428 55,782\n Other segment items((i)) 11,641 25,959 4,174 33,652 42,588 8,935\n Adjusted operating income/(losses) 25,401 9,349 (33,961) 789 116 40,597 23,102 (60,831) 2,868 423\n Unallocated amounts-share based compensations 5,671 836 9,152 1,349\n Unallocated amounts-corporate expense 28,713 4,232 55,599 8,195\n Operating loss (33,595) (4,952) (61,883) (9,121)\n Reconciliation of segment profit/(loss)\n Interest income, net 3,201 472 6,623 976\n Foreign exchange gains, net 20,764 3,060 40,016 5,898\n Other expense, net (68,707) (10,126) (67,386) (9,931)\n Loss before income taxes (78,337) (11,546) (82,630) (12,178)\n\n \n\n \n For The Three Months Ended June 30, 2025 For The Six Months Ended June 30, 2025\n Internet Services Global Enterprise Services Robotics and others Consolidated Internet Services Global Enterprise Services Robotics and others Consolidated\n RMB RMB RMB RMB RMB RMB RMB RMB\n Revenues from external 157,837 105,788 31,593 295,218 316,978 187,085 50,161 554,224\n customers\n Inter-segment revenues - 8,982 - 8,982 - 17,503 - 17,503\n\n Segment revenue 157,837 114,770 31,593 304,200 316,978 204,588 50,161 571,727\n Elimination of inter-segment (8,982) (17,503)\n revenue\n Consolidated Revenues 295,218 554,224\n Operating Costs and\n expenses\n Cost of revenues(i) 26,315 29,119 22,046 49,307 57,436 46,532\n Selling and marketing(i) 62,119 19,501 17,843 129,615 34,283 37,874\n Research and development(i) 33,409 1,911 31,752 66,252 3,170 58,131\n Other segment items(i) 13,744 15,841 12,626 24,947 19,238 22,971\n Adjusted operating income/(losses) 22,250 48,398 (52,674) 17,974 46,857 90,461 (115,347) 21,971\n Unallocated amounts-share 2,361 7,945\n based compensations\n Unallocated amounts- 26,676 51,624\n corporate expense\n Operating loss (11,063) (37,598)\n Reconciliation of segment\n profit/(loss)\n Interest income, net 9,980 15,585\n Foreign exchange gains, net 6,349 7,999\n Other expense, net (17,844) (21,853)\n Loss before income taxes (12,578) (35,867)\n\n(i) Share-based compensations and certain corporate expenses were not\nallocated to segments. Other segment items include general and administrative\nexpenses and other operating expenses allocated to the respective segments.\n\n \n CHEETAH MOBILE INC.\n Reconciliation from Net Loss Attributable to Cheetah Mobile Shareholders to\n Adjusted EBITDA (Non-GAAP)\n (Unaudited, amounts in thousands of Renminbi (\"RMB\") and US dollars (\"US$\"))\n\n For The Three Months Ended For The Six Months Ended\n June 30, 2025 June 30, 2026 June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2026\n RMB RMB USD RMB RMB USD\n Net loss attributable to Cheetah Mobile (22,643) (94,911) (13,988) (56,000) (112,391) (16,564)\n shareholders\n Add:\n Income tax expenses 3,865 8,199 1,208 8,685 15,822 2,332\n Interest income, net (9,980) (3,201) (472) (15,585) (6,623) (976)\n Depreciation and other amortization 10,757 6,969 1,027 20,539 13,433 1,980\n Net income attributable to noncontrolling 6,200 8,375 1,234 11,448 13,939 2,054\n interests\n Other expense, net 11,495 47,943 7,066 13,854 27,370 4,033\n Share-based compensation 2,361 5,671 836 7,945 9,152 1,349\n Adjusted EBITDA 2,055 (20,955) (3,089) (9,114) (39,298) (5,792)\n\n \n\nView original\ncontent:https://www.prnewswire.com/news-releases/cheetah-mobile-announces-second-quarter-2026-unaudited-consolidated-financial-results-302875945.html\n(https://www.prnewswire.com/news-releases/cheetah-mobile-announces-second-quarter-2026-unaudited-consolidated-financial-results-302875945.html)\n\nSOURCE Cheetah Mobile\n\n\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved.","article_body_html":"","raw_payload":{"data":{"id":"nPn5rvf8sa-20260911","title":"Cheetah Mobile Announces Second Quarter 2026 Unaudited Consolidated Financial Results","author":"PR Newswire","ticker":"CMCM","created":"2026-09-11T02:36:58.779Z","tickers":["CMCM","0C9Y"],"exchange":"NYSE","article_body":"Cheetah Mobile Announces Second Quarter 2026 Unaudited Consolidated Financial Results\nPR Newswire\n\nBEIJING, Sept. 10, 2026\n\n * Services of cloud and AI infrastructure revenue increased 83.1% year over year\nand 26.2% quarter over quarter, accounting for 72.8% of Global Enterprise\nServices revenue and 22.2% of total revenues and making a positive\ncontribution to the adjusted operating results of Global Enterprise Services.\n * Robotics and others revenue increased 72.5% year over year and 6.4% quarter\nover quarter, accounting for 20.5% of total revenues.\nBEIJING, Sept. 10, 2026 /PRNewswire/ -- Cheetah Mobile Inc. (\"Cheetah Mobile\"\nor the \"Company\") (NYSE: CMCM), a China-based IT company with a commitment to\nAI innovation, today announced its unaudited consolidated financial results\nfor the quarter ended June 30, 2026.\n\nFinancial Highlights\n\n * Total revenues were RMB266.1 million (US$39.2 million) in the second quarter\nof 2026, representing a decrease of 9.9% year over year and an increase of\n2.7% quarter over quarter.\n * * Advertising agency services revenue, which is included in the Global\nEnterprise Services segment, decreased 70.0% year over year and 15.0% quarter\nover quarter to RMB22.0 million, primarily due to changes in rebate policies\nimplemented by a major global advertising platform. Its contribution to total\nrevenues declined to 8.3% from 24.9% in the same period last year. Revenues\nexcluding advertising agency services were RMB244.1 million, increasing\napproximately 10.1% year over year and 4.7% quarter over quarter. The decline\nin advertising agency services revenue was a significant factor in the\nyear-over-year increase in the Company's operating loss in the second quarter\nof 2026.\n * * In the Global Enterprise Services segment, revenues from services of cloud\nand\nAI infrastructure increased 83.1% year over year and 26.2% quarter over\nquarter to RMB59.1 million, accounting for 72.8% of Global Enterprise Services\nrevenue and 22.2% of total revenues, compared with approximately 10.9% of\ntotal revenues in the same period last year. The increase was driven by\ngrowing demand from enterprises expanding overseas for cloud resources,\ncomputing power and AI model services.\n * Robotics and others revenue increased 72.5% year over year and 6.4% quarter\nover quarter to RMB54.5 million, accounting for 20.5% of total revenues,\ndriven by an increase in sales volume of our robotic products. The\nyear-over-year increase benefited from the contribution of UFACTORY, a\nprovider of lightweight robotic arms acquired by the Company on July 29, 2025.\n * Internet value-added services revenue, which is included in the Internet\nServices segment, increased 6.7% year over year and 2.9% quarter over quarter\nto RMB101.2 million, accounting for 77.6% of segment revenue, and 38.0% of\ntotal revenues, due to increase in user base and distribution channels.\nBalance Sheet\n\n * As of June 30, 2026, the Company had RMB1,271.0 million (US$187.3 million) in\ncash and cash equivalents.\nManagement Commentary\n\nFu Sheng, Chief Executive Officer of Cheetah Mobile, commented: \"During the\nsecond quarter, we continued to evolve our business mix, with revenue from\nservices of cloud and AI infrastructure within Global Enterprise Services\ngrowing 83.1% year over year, driven by demand from enterprises expanding\noverseas for cloud and AI infrastructure services, accounting for 22.2% total\nrevenues in the quarter. Gross billings([1]) from services of cloud and AI\ninfrastructure exceeded RMB500 million during the quarter, compared with about\nRMB200 million in the same period last year and about RMB300 million in the\nprevious quarter, reflecting the rapid expansion of customer demand and\nbusiness scale. Robotics and others revenue increased 72.5% year over year and\naccounted for 20.5% of total revenues in the quarter, with new initiatives\nsuch as smart mobility beginning to contribute revenue. The growth of these\nAI-related businesses underscores the progress of our AI-driven\ntransformation.\n\nInternet Services remained a stable foundation for our business. Internet\nvalue-added services revenue increased both year over year and sequentially\nand represented 77.6% of segment revenue. While advertising agency services\nrevenue within Global Enterprise Services remained under pressure, growth in\nservices of cloud and AI infrastructure and Robotics and others supported the\nCompany's return to sequential revenue growth while strengthening our\nfoundation for future growth.\"\n [1] Gross billings from services of cloud and AI infrastructure is an\n operating metric representing the aggregate monetary value of customers'\n consumption of public cloud resources and AI model tokens provided or arranged\n by the Company during the relevant period.\n\nThomas Ren, Chief Financial Officer of Cheetah Mobile, commented:\n\"Second-quarter revenue increased 2.7% sequentially. Operating loss was\nRMB33.6 million, compared with RMB28.3 million in the previous quarter, while\nnon-GAAP operating loss remained relatively stable at RMB25.6 million,\ncompared with RMB22.5 million in the previous quarter.\n\nThe sequential movement in non-GAAP operating loss reflected higher adjusted\noperating profit in Internet Services, offset by lower adjusted operating\nprofit in Global Enterprise Services resulting from lower advertising agency\nservices revenue, as well as a wider adjusted operating loss in Robotics and\nothers. Adjusted operating profit from Internet Services increased 14.2% year\nover year and 67.2% sequentially, with adjusted operating margin improving to\n19.4%. Services of cloud and AI infrastructure continued to scale rapidly.\nHowever, the growth of cloud and AI infrastructure services partially offset\nthe negative impact of lower advertising agency services revenue on the\nsegment's adjusted operating profit. We ended the quarter with US$187.3\nmillion in cash and cash equivalents, providing us with the flexibility to\ninvest prudently in our AI and robotics businesses.\"\n\nSecond Quarter 2026 Financial Results\n\nTotal revenues decreased 9.9% year over year and increased 2.7% quarter over\nquarter to RMB266.1 million (US$39.2 million).\n\n * Internet Services revenue decreased 17.3% year over year and 3.4% quarter over\nquarter to RMB130.5 million (US$19.2 million).\n * * Within the segment, internet value-added services revenue increased 6.7%\nyear\nover year and 2.9% quarter over quarter to RMB101.2 million, accounting for\n77.6% of segment revenue.\n * Online advertising revenue decreased 53.5% year over year and 20.2% quarter\nover quarter to RMB29.3 million, accounting for 22.4% of segment revenue.\n * Global Enterprise Services revenue decreased 23.3% year over year and\nincreased 11.5% quarter over quarter to RMB81.1 million (US$12.0 million).\n * * Services of cloud and AI infrastructure revenue, which is included in this\nsegment, increased 83.1% year over year and 26.2% quarter over quarter to\nRMB59.1 million, accounting for 72.8% of segment revenue.\n * Advertising agency services revenue decreased 70.0% year over year and 15.0%\nquarter over quarter to RMB22.0 million, accounting for 27.2% of segment\nrevenue.\n * Robotics and others revenue increased 72.5% year over year and 6.4% quarter\nover quarter to RMB54.5 million (US$8.0 million).\nOperating loss was RMB33.6 million (US$5.0 million), compared with RMB11.1\nmillion in the same period last year and RMB28.3 million in the first quarter\nof 2026.\n\nNon-GAAP operating loss was RMB25.6 million (US$3.8 million), compared with\nRMB2.1 million in the same period last year and RMB22.5 million in the first\nquarter of 2026. The year-over-year increase primarily reflected lower\nadvertising agency services revenue within the Global Enterprise Services\nsegment.\n\n * Adjusted operating profit from Internet Services was RMB25.4 million,\nincreasing by 14.2% year over year and 67.2% quarter over quarter. Adjusted\noperating margin for the segment expanded to 19.4%, compared with 14.1% in the\nsame period last year and 11.3% in the first quarter of 2026.\n * Adjusted operating profit from Global Enterprise Services was RMB9.3 million,\ndecreasing by 80.7% year over year and 32.0% quarter over quarter, primarily\nreflecting lower advertising agency services revenue. The continued strong\ngrowth of services of cloud and AI infrastructure provided a positive\ncontribution to the segment's adjusted operating results.\n * Adjusted operating loss from Robotics and others was RMB34.0 million,\nnarrowing by 35.5% from RMB52.7 million in the same period last year, but\nwidening from RMB26.9 million in the first quarter of 2026, as the Company\ncontinued to invest in the development and commercialization of its robotics\nbusinesses.\nConference Call Information\n\nCheetah Mobile's management will hold an earnings conference call at 11:30 AM\non Friday, September 11, 2026, Beijing Time (11:30 PM on Thursday, September\n10, 2026, U.S. Eastern Time).\n\nMain Conference:\nTencent Meeting ID: 175-882-665\n\nMeeting Link: https://cmcm.meeting.tencent.com/dm/3QuXIZPgSezq\n(https://cmcm.meeting.tencent.com/dm/3QuXIZPgSezq)\n\nDial-in Numbers:\nUnited States: +1 4153389272\nMainland China: +86 (0)755 36550000\nHong Kong: +852 30088359\n\nEnglish Interpretation:\nTencent Meeting ID: 845-329-676\n\nMeeting Link: https://cmcm.meeting.tencent.com/dm/t07drnN5B7fM\n(https://cmcm.meeting.tencent.com/dm/t07drnN5B7fM)\n\nDial-in Numbers:\nUnited States: +1 4153389272\nMainland China: +86 (0)755 36550000\nHong Kong Toll Free: +852 30088359\n\nExchange Rate\n\nUnless otherwise noted, all translations from Renminbi to U.S. dollars were\nmade at a rate of RMB6.7851 to US$1.00, the exchange rate in effect as of June\n30, 2026, as set forth in the H.10 statistical release of the Federal Reserve\nBoard. Such translations should not be construed as representations that RMB\namounts could be converted into U.S. dollars at that rate or any other rate.\n\nAbout Cheetah Mobile Inc.\n\nCheetah Mobile is a China-based IT company with a commitment to AI innovation.\nIt has developed and launched a diversified suite of software products for PCs\nand mobile devices, designed to address users' needs in document processing,\nsystem optimization, image editing and web browsing, AI agent products, among\nothers. Cheetah Mobile provides advertising services to advertisers worldwide,\nvalue-added services including the sale of premium membership to its users,\nservices of cloud and AI infrastructure to companies globally, as well as\nrobotic products to international clients. At the same time, it actively\nengages in research and development of advanced technologies to empower its\nproducts and services. Cheetah Mobile has been listed on the New York Stock\nExchange since May 2014.\n\nSafe Harbor Statement\n\nThis press release contains forward-looking statements. These statements,\nincluding management quotes and business outlook, constitute forward-looking\nstatements under the U.S. Private Securities Litigation Reform Act of 1995.\nThese forward-looking statements can be identified by terminology such as\n\"will,\" \"expects,\" \"anticipates,\" \"future,\" \"intends,\" \"plans,\" \"believes,\"\n\"estimates\" and similar statements. Such statements involve inherent risks and\nuncertainties. A number of factors could cause actual results to differ\nmaterially from those contained in the forward-looking statements, including\nthe Company's growth strategies, ability to retain and increase its user base,\nexpand its offerings, monetize its platform, and future business development,\nfinancial condition and results of operations; competition; expected changes\nin revenues and expenses; and general economic and business conditions\nglobally and in China. Further information regarding these and other risks is\nincluded in the Company's filings with the U.S. Securities and Exchange\nCommission. The Company does not undertake any obligation to update any\nforward-looking statement, except as required by law.\n\nUse of Non-GAAP Financial Measures\n\nThis release contains non-GAAP financial measures, including but not limited\nto:\n\n * Non-GAAP cost of revenues excludes share-based compensation expenses;\n * Non-GAAP gross profit excludes share-based compensation expenses;\n * Non-GAAP gross margin excludes share-based compensation expenses;\n * Total non-GAAP operating expenses exclude share-based compensation expenses,\namortization of intangible assets resulting from business acquisitions;\n * Non-GAAP research and development expenses exclude share-based compensation\nexpenses, amortization of intangible assets resulting from business\nacquisitions;\n * Non-GAAP selling and marketing expenses exclude share-based compensation\nexpenses, amortization of intangible assets resulting from business\nacquisitions;\n * Non-GAAP general and administrative expenses exclude share-based compensation\nexpenses;\n * Non-GAAP operating profit/loss excludes share-based compensation expenses,\namortization of intangible assets resulting from business acquisitions;\n * Non-GAAP net income/loss attributable to Cheetah Mobile shareholders excludes\nshare-based compensation expenses, amortization of intangible assets resulting\nfrom business acquisitions;\n * Non-GAAP diluted earnings/losses per ADS excludes share-based compensation\nexpenses, amortization of intangible assets resulting from business\nacquisitions.\nThe Company reviews these non-GAAP financial measures together with GAAP\nfinancial measures to obtain a better understanding of its operating\nperformance. It uses the non-GAAP financial measures for planning, forecasting\nand measuring results against the forecast. The Company believes that non-GAAP\nfinancial measures are useful supplemental information for investors and\nanalysts to assess its operating performance without the effect of share-based\ncompensation expenses, amortization of intangible assets resulting from\nbusiness acquisitions, which have been and will continue to be significant\nrecurring expenses in its business, as well as impairment of goodwill and\nintangible assets resulting from business acquisitions. However, the use of\nnon-GAAP financial measures has material limitations as an analytical tool.\nOne of the limitations of using non-GAAP financial measures is that they do\nnot include all items that impact the Company's net income for the period. In\naddition, because non-GAAP financial measures are not measured in the same\nmanner by all companies, they may not be comparable to other similarly titled\nmeasures used by other companies. In light of the foregoing limitations, you\nshould not consider non-GAAP financial measure in isolation from or as an\nalternative to the financial measure prepared in accordance with U.S. GAAP.\nFor more information on these non-GAAP financial measures, please see the\ntables captioned \"Cheetah Mobile Inc. Reconciliation of GAAP and non-GAAP\nResults\".\n\nInvestor Relations Contact\n\nHelen Jing Zhu\nCheetah Mobile Inc.\nTel: +86 13811591550\nEmail: ir@cmcm.com (mailto:ir@cmcm.com)\n\n \n CHEETAH MOBILE INC.\n Condensed Consolidated Balance Sheets\n (Unaudited, amounts in thousands of Renminbi (\"RMB\") and US dollars (\"US$\"))\n\n As of\n December 31, 2025 June 30, 2026\n RMB RMB USD\n ASSETS\n Current assets:\n Cash and cash equivalents 1,506,625 1,270,969 187,318\n Short-term investments 9,527 445 66\n Accounts receivable, net 468,058 689,708 101,650\n Prepayments and other current assets, net 1,154,774 1,170,431 172,498\n Due from related parties, net 94,821 134,754 19,860\n Total current assets 3,233,805 3,266,307 481,392\n\n Non-current assets:\n Property and equipment, net 40,238 40,730 6,003\n Operating lease right-of-use assets 16,833 17,828 2,628\n Intangible assets, net 54,069 48,191 7,102\n Goodwill 460,034 460,034 67,801\n Long-term investments 688,459 600,054 88,437\n Deferred tax assets 112,913 117,674 17,343\n Other non-current assets 77,521 89,403 13,176\n Total non-current assets 1,450,067 1,373,914 202,490\n\n Total assets 4,683,872 4,640,221 683,882\n\n LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY\n Current liabilities:\n Bank Loans - 2,900 427\n Accounts payable 211,689 413,198 60,898\n Accrued expenses and other current liabilities 2,264,659 2,163,995 318,933\n Due to related parties 18,613 25,199 3,714\n Income tax payable 54,430 56,356 8,306\n Total current liabilities 2,549,391 2,661,648 392,278\n\n Non-current liabilities:\n Deferred tax liabilities 21,711 20,555 3,029\n Other non-current liabilities 154,422 155,175 22,870\n Total non-current liabilities 176,133 175,730 25,899\n\n Total liabilities 2,725,524 2,837,378 418,177\n\n Mezzanine equity:\n Redeemable noncontrolling interests 197,560 200,903 29,609\n\n Shareholders' equity:\n Ordinary shares 254 257 38\n Additional paid-in capital 2,736,117 2,739,942 403,817\n Accumulated deficit (1,490,947) (1,603,338) (236,303)\n Accumulated other comprehensive income 362,245 297,692 43,874\n Total Cheetah Mobile Inc. shareholders' equity 1,607,669 1,434,553 211,426\n Noncontrolling interests 153,119 167,387 24,670\n\n Total shareholders' equity 1,760,788 1,601,940 236,096\n\n Total liabilities, mezzanine equity and shareholders' equity 4,683,872 4,640,221 683,882\n\n \n CHEETAH MOBILE INC.\n Condensed Consolidated Statements of Comprehensive Loss\n (Unaudited, amounts in thousands of Renminbi (\"RMB\") and US dollars (\"US$\"),\n except for number of shares and per share(or ADS) data)\n\n For The Three Months Ended For The Six Months Ended\n June 30, 2025 June 30, 2026 June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2026\n RMB RMB USD RMB RMB USD\n Revenues 295,218 266,115 39,220 554,224 525,108 77,391\n Internet Services 157,837 130,474 19,229 316,978 265,479 39,127\n Global Enterprise Services 105,788 81,134 11,958 187,085 153,884 22,680\n Robotics and others 31,593 54,507 8,033 50,161 105,745 15,584\n Cost of revenues (a) (70,426) (97,490) (14,368) (139,931) (189,921) (27,991)\n Gross profit 224,792 168,625 24,852 414,293 335,187 49,400\n\n Operating income and expenses:\n Research and development (a) (67,083) (58,764) (8,661) (128,327) (116,486) (17,168)\n Selling and marketing (a) (102,434) (74,654) (11,003) (207,272) (146,368) (21,572)\n General and administrative (a) (66,627) (68,735) (10,130) (119,251) (134,871) (19,878)\n Other operating income/(expense) 289 (67) (10) 2,959 655 97\n Total operating income and expenses (235,855) (202,220) (29,804) (451,891) (397,070) (58,521)\n\n Operating loss (11,063) (33,595) (4,952) (37,598) (61,883) (9,121)\n Other income/(expenses):\n Interest income, net 9,980 3,201 472 15,585 6,623 976\n Foreign exchange gains 6,349 20,764 3,060 7,999 40,016 5,898\n Other expense, net (17,844) (68,707) (10,126) (21,853) (67,386) (9,931)\n\n Loss before income taxes (12,578) (78,337) (11,546) (35,867) (82,630) (12,178)\n Income tax expenses (3,865) (8,199) (1,208) (8,685) (15,822) (2,332)\n Net loss (16,443) (86,536) (12,754) (44,552) (98,452) (14,510)\n Less: net income attributable to noncontrolling 6,200 8,375 1,234 11,448 13,939 2,054\n interests\n Net loss attributable to Cheetah Mobile (22,643) (94,911) (13,988) (56,000) (112,391) (16,564)\n shareholders\n\n Net loss per share\n Basic (0.0162) (0.0619) (0.0091) (0.0397) (0.0745) (0.0110)\n Diluted (0.0163) (0.0620) (0.0091) (0.0398) (0.0747) (0.0110)\n\n Net loss per ADS\n Basic (0.8116) (3.0927) (0.4550) (1.9861) (3.7245) (0.5500)\n Diluted (0.8152) (3.1003) (0.4550) (1.9923) (3.7337) (0.5500)\n\n Weighted average number of shares\n outstanding\n 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\n 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\n Weighted average number of ADSs\n outstanding\n Basic 30,367,638 31,077,579 31,077,579 30,341,690 31,058,552 31,058,552\n Diluted 30,367,638 31,077,579 31,077,579 30,341,690 31,058,552 31,058,552\n\n Other comprehensive loss , net of tax of nil\n Foreign currency translation adjustments (7,643) (31,282) (4,610) (7,915) (62,442) (9,203)\n Unrealized gains/(loss) on available-for-sale 188 (4,348) (641) 2,848 (3,763) (555)\n securities, net\n Other comprehensive loss (7,455) (35,630) (5,251) (5,067) (66,205) (9,758)\n Total comprehensive loss (23,898) (122,166) (18,005) (49,619) (164,657) (24,268)\n Less: Total comprehensive income 7,113 7,556 1,114 13,775 12,287 1,811\n attributable to\n noncontrolling interests\n Total comprehensive loss attributable (31,011) (129,722) (19,119) (63,394) (176,944) (26,079)\n to Cheetah Mobile shareholders\n\n \n\n \n For The Three Months Ended For The Six Months Ended\n June 30, 2025 June 30, 2026 June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2026\n (a) Share-based compensation expenses RMB RMB USD RMB RMB USD\n Cost of revenues 5 - - 10 - -\n Research and development 62 1,197 176 358 2,129 314\n Selling and marketing 229 521 77 300 1,026 151\n General and administrative 2,065 3,953 583 7,277 5,997 884\n Total 2,361 5,671 836 7,945 9,152 1,349\n\n \n\n \n CHEETAH MOBILE INC.\n Reconciliation of GAAP and Non-GAAP Results\n (Unaudited, amounts in thousands of Renminbi (\"RMB\") and US dollars (\"US$\"),\n except for per share data )\n\n For The Three Months Ended June 30, 2026 For The Six Months Ended June 30, 2026\n GAAP Share-based Amortization of Non-GAAP GAAP Share-based Amortization of Non-GAAP\n Result Compensation intangible assets* Result Result Compensation intangible assets* Result\n RMB RMB RMB RMB USD RMB RMB RMB RMB USD\n Revenues 266,115 - - 266,115 39,220 525,108 - - 525,108 77,391\n Cost of revenues (97,490) - - (97,490) (14,368) (189,921) - - (189,921) (27,991)\n Gross profit 168,625 - - 168,625 24,852 335,187 - - 335,187 49,400\n\n Research and development (58,764) 1,197 232 (57,335) (8,451) (116,486) 2,129 463 (113,894) (16,786)\n Selling and marketing (74,654) 521 2,071 (72,062) (10,621) (146,368) 1,026 4,141 (141,201) (20,811)\n General and administrative (68,735) 3,953 - (64,782) (9,547) (134,871) 5,997 - (128,874) (18,994)\n Other operating (expense)/income, net (67) - - (67) (10) 655 - - 655 97\n 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)\n\n Operating loss (33,595) 5,671 2,303 (25,621) (3,777) (61,883) 9,152 4,604 (48,127) (7,094)\n Net loss attributable to Cheetah Mobile (94,911) 5,671 2,303 (86,937) (12,813) (112,391) 9,152 4,604 (98,635) (14,537)\n shareholders\n\n Diluted losses per ordinary share (RMB) (0.0620) 0.0036 0.0015 (0.0569) (0.0747) 0.0059 0.0030 (0.0658)\n Diluted losses per ADS (RMB) (3.1003) 0.1800 0.0753 (2.8450) (3.7337) 0.2950 0.1487 (3.2900)\n Diluted losses per ADS (USD) (0.4550) 0.0265 0.0111 (0.4193) (0.5500) 0.0435 0.0219 (0.4849)\n\n \n\n \n For The Three Months Ended June 30, 2025 For The Six Months Ended June 30, 2025\n GAAP Share-based Amortization of Non-GAAP GAAP Share-based Amortization of Non-GAAP\n Result Compensation intangible assets* Result Result Compensation intangible assets* Result\n RMB RMB RMB RMB RMB RMB RMB RMB\n Revenues 295,218 - - 295,218 554,224 - - 554,224\n Cost of revenues (70,426) 5 - (70,421) (139,931) 10 - (139,921)\n Gross profit 224,792 5 - 224,797 414,293 10 - 414,303\n\n Research and development (67,083) 62 6,156 (60,865) (128,327) 358 12,312 (115,657)\n Selling and marketing (102,434) 229 469 (101,736) (207,272) 300 938 (206,034)\n General and administrative (66,627) 2,065 - (64,562) (119,251) 7,277 - (111,974)\n Other operating income, net 289 - - 289 2,959 - - 2,959\n Total operating income and expenses (235,855) 2,356 6,625 (226,874) (451,891) 7,935 13,250 (430,706)\n\n Operating loss (11,063) 2,361 6,625 (2,077) (37,598) 7,945 13,250 (16,403)\n Net loss attributable to Cheetah Mobile (22,643) 2,361 6,625 (13,657) (56,000) 7,945 13,250 (34,805)\n shareholders\n\n Diluted losses per ordinary share (RMB) (0.0163) 0.0016 0.0043 (0.0104) (0.0398) 0.0052 0.0086 (0.0260)\n Diluted losses per ADS (RMB) (0.8152) 0.0800 0.2152 (0.5200) (1.9923) 0.2600 0.4323 (1.3000)\n\n* This represents amortization of intangible assets resulting from business\nacquisitions.\n\n \n CHEETAH MOBILE INC.\n Information about Segment\n (Unaudited, amounts in thousands of Renminbi (\"RMB\") and US dollars (\"US$\"),\n except for percentage)\n\n For The Three Months Ended June 30, 2026 For The Six Months Ended June 30, 2026\n Internet Services Global Enterprise Services Robotics and others Consolidated Internet Services Global Enterprise Services Robotics and others Consolidated\n RMB RMB RMB RMB USD RMB RMB RMB RMB USD\n Revenues from external customers 130,474 81,134 54,507 266,115 39,220 265,479 153,884 105,745 525,108 77,391\n Inter-segment revenues 347 13,324 - 13,671 2,015 347 24,454 - 24,801 3,655\n\n Segment revenue 130,821 94,458 54,507 279,786 41,235 265,826 178,338 105,745 549,909 81,046\n Elimination of inter-segment revenue (13,671) (2,015) (24,801) (3,655)\n Consolidated Revenues 266,115 39,220 525,108 77,391\n Operating Costs and expenses\n Cost of revenues((i)) 31,081 40,373 36,616 60,238 84,313 63,074\n Selling and marketing((i)) 33,373 17,727 19,038 73,022 26,907 38,785\n Research and development((i)) 29,325 1,050 28,640 58,317 1,428 55,782\n Other segment items((i)) 11,641 25,959 4,174 33,652 42,588 8,935\n Adjusted operating income/(losses) 25,401 9,349 (33,961) 789 116 40,597 23,102 (60,831) 2,868 423\n Unallocated amounts-share based compensations 5,671 836 9,152 1,349\n Unallocated amounts-corporate expense 28,713 4,232 55,599 8,195\n Operating loss (33,595) (4,952) (61,883) (9,121)\n Reconciliation of segment profit/(loss)\n Interest income, net 3,201 472 6,623 976\n Foreign exchange gains, net 20,764 3,060 40,016 5,898\n Other expense, net (68,707) (10,126) (67,386) (9,931)\n Loss before income taxes (78,337) (11,546) (82,630) (12,178)\n\n \n\n \n For The Three Months Ended June 30, 2025 For The Six Months Ended June 30, 2025\n Internet Services Global Enterprise Services Robotics and others Consolidated Internet Services Global Enterprise Services Robotics and others Consolidated\n RMB RMB RMB RMB RMB RMB RMB RMB\n Revenues from external 157,837 105,788 31,593 295,218 316,978 187,085 50,161 554,224\n customers\n Inter-segment revenues - 8,982 - 8,982 - 17,503 - 17,503\n\n Segment revenue 157,837 114,770 31,593 304,200 316,978 204,588 50,161 571,727\n Elimination of inter-segment (8,982) (17,503)\n revenue\n Consolidated Revenues 295,218 554,224\n Operating Costs and\n expenses\n Cost of revenues(i) 26,315 29,119 22,046 49,307 57,436 46,532\n Selling and marketing(i) 62,119 19,501 17,843 129,615 34,283 37,874\n Research and development(i) 33,409 1,911 31,752 66,252 3,170 58,131\n Other segment items(i) 13,744 15,841 12,626 24,947 19,238 22,971\n Adjusted operating income/(losses) 22,250 48,398 (52,674) 17,974 46,857 90,461 (115,347) 21,971\n Unallocated amounts-share 2,361 7,945\n based compensations\n Unallocated amounts- 26,676 51,624\n corporate expense\n Operating loss (11,063) (37,598)\n Reconciliation of segment\n profit/(loss)\n Interest income, net 9,980 15,585\n Foreign exchange gains, net 6,349 7,999\n Other expense, net (17,844) (21,853)\n Loss before income taxes (12,578) (35,867)\n\n(i) Share-based compensations and certain corporate expenses were not\nallocated to segments. Other segment items include general and administrative\nexpenses and other operating expenses allocated to the respective segments.\n\n \n CHEETAH MOBILE INC.\n Reconciliation from Net Loss Attributable to Cheetah Mobile Shareholders to\n Adjusted EBITDA (Non-GAAP)\n (Unaudited, amounts in thousands of Renminbi (\"RMB\") and US dollars (\"US$\"))\n\n For The Three Months Ended For The Six Months Ended\n June 30, 2025 June 30, 2026 June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2026\n RMB RMB USD RMB RMB USD\n Net loss attributable to Cheetah Mobile (22,643) (94,911) (13,988) (56,000) (112,391) (16,564)\n shareholders\n Add:\n Income tax expenses 3,865 8,199 1,208 8,685 15,822 2,332\n Interest income, net (9,980) (3,201) (472) (15,585) (6,623) (976)\n Depreciation and other amortization 10,757 6,969 1,027 20,539 13,433 1,980\n Net income attributable to noncontrolling 6,200 8,375 1,234 11,448 13,939 2,054\n interests\n Other expense, net 11,495 47,943 7,066 13,854 27,370 4,033\n Share-based compensation 2,361 5,671 836 7,945 9,152 1,349\n Adjusted EBITDA 2,055 (20,955) (3,089) (9,114) (39,298) (5,792)\n\n \n\nView original\ncontent:https://www.prnewswire.com/news-releases/cheetah-mobile-announces-second-quarter-2026-unaudited-consolidated-financial-results-302875945.html\n(https://www.prnewswire.com/news-releases/cheetah-mobile-announces-second-quarter-2026-unaudited-consolidated-financial-results-302875945.html)\n\nSOURCE Cheetah Mobile\n\n\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved."},"type":"article","timestamp":"2026-09-11T02:36:58.850693943Z","server_sent_at_ms":1789094218850},"received_at":"2026-09-11T02:36:59.123Z","source_url":"https://www.prnewswire.com/news-releases/cheetah-mobile-announces-second-quarter-2026-unaudited-consolidated-financial-results-302875945.html"},"analysis":{"id":"129996","press_release_id":"141160","analysis_json":{"industry":{"label":"Software","sector":"Information Technology"},"redFlags":["Advertising agency revenue fell 70.0% YoY due to rebate policy changes at a major global advertising platform — concentrated platform dependency risk","Operating loss widened YoY to RMB33.6 million from RMB11.1 million; net loss attributable to shareholders nearly quadrupled to RMB94.9 million","Robotics adjusted operating loss widened sequentially to RMB34.0 million from RMB26.9 million amid continued commercialization spend","Cash declined to RMB1,271.0 million from RMB1,506.6 million at December 31, 2025","'Other expense, net' of RMB68.7 million was a major drag on pre-tax results, far exceeding operating-level trends"],"eventType":"earnings","narrative":"Cheetah Mobile reported Q2 2026 total revenues of RMB266.1 million (US$39.2 million), down 9.9% year over year but up 2.7% sequentially, as advertising agency revenue collapsed 70% YoY to RMB22.0 million following rebate policy changes at a major global advertising platform.\n\nAI-driven segments offset the ad decline: cloud and AI infrastructure revenue jumped 83.1% YoY to RMB59.1 million with gross billings topping RMB500 million versus roughly RMB200 million a year ago, and robotics revenue rose 72.5% YoY to RMB54.5 million, aided by the UFACTORY acquisition.\n\nLosses still widened — GAAP operating loss was RMB33.6 million (US$5.0 million) versus RMB11.1 million a year ago, net loss attributable to shareholders reached RMB94.9 million (US$14.0 million) with a diluted loss per ADS of US$0.4550, and adjusted EBITDA was negative RMB21.0 million.\n\nThe quarter closed with US$187.3 million in cash, while Internet Services adjusted operating profit rose 67.2% sequentially to RMB25.4 million at a 19.4% margin, supporting management's AI-transformation thesis.","sentiment":"mixed","agentHooks":{"shouldPost":true,"suggestedAngle":"CMCM's AI pivot is showing real traction — cloud/AI gross billings up ~2.5x YoY — but widening losses and a 70% ad-revenue collapse make the stock a show-me story."},"keyFigures":{"eps":"GAAP diluted net loss per ADS of US$(0.4550) / RMB(3.1003)","revenue":"US$39.2 million (RMB266.1 million)","revenueYoy":"-9.9%","customDimensions":{"revenueQoq":"+2.7%","operating_loss":"RMB33.6 million (US$5.0 million)","adjusted_ebitda":"RMB(21.0) million (US$(3.1) million)","robotics_revenue":"RMB54.5 million, +72.5% YoY, +6.4% QoQ","net_loss_attributable":"RMB94.9 million (US$14.0 million)","cloud_ai_gross_billings":"exceeded RMB500 million vs ~RMB200 million a year ago","non_gaap_operating_loss":"RMB25.6 million (US$3.8 million)","cash_and_cash_equivalents":"RMB1,271.0 million (US$187.3 million)","robotics_adjusted_op_loss":"RMB34.0 million vs RMB26.9 million in Q1 2026","advertising_agency_revenue":"RMB22.0 million, -70.0% YoY","cloud_ai_infrastructure_revenue":"RMB59.1 million, +83.1% YoY, +26.2% QoQ","internet_services_adjusted_op_profit":"RMB25.4 million, +67.2% QoQ, 19.4% margin"}},"quotedText":"Second-quarter revenue increased 2.7% sequentially.","namedEntities":{"people":[{"name":"Fu Sheng","role":"Chief Executive Officer"},{"name":"Thomas Ren","role":"Chief Financial Officer"},{"name":"Helen Jing Zhu","role":"Investor Relations Contact"}],"products":["cloud and AI infrastructure services","robotic products (lightweight robotic arms)","AI agent products","smart mobility initiatives","premium membership value-added services"],"companies":[{"name":"Cheetah Mobile Inc.","ticker":"CMCM","relationship":"filer"},{"name":"UFACTORY","relationship":"subsidiary (lightweight robotic arms provider acquired July 29, 2025)"}],"dollarAmounts":[{"amount":"US$39.2 million","context":"Q2 2026 total revenues"},{"amount":"RMB266.1 million","context":"Q2 2026 total revenues"},{"amount":"US$187.3 million","context":"cash and cash equivalents as of June 30, 2026"},{"amount":"RMB33.6 million","context":"Q2 2026 GAAP operating loss"},{"amount":"RMB59.1 million","context":"Q2 2026 cloud and AI infrastructure revenue"},{"amount":"RMB54.5 million","context":"Q2 2026 Robotics and others revenue"},{"amount":"RMB22.0 million","context":"Q2 2026 advertising agency services revenue"},{"amount":"RMB500 million","context":"cloud and AI infrastructure gross billings exceeded during the quarter"},{"amount":"US$5.0 million","context":"Q2 2026 operating loss in USD"}]},"materialImpact":{"score":3,"reasoning":"Full quarterly earnings with sharply two-sided results: revenue fell 9.9% YoY and losses widened materially (GAAP operating loss RMB33.6M vs RMB11.1M last year; net loss attributable nearly quadrupled), but cloud/AI infrastructure revenue grew 83.1% and sequential revenue growth returned. No consensus comparison is provided, and CMCM is a small cap, so this is significant but not market-moving."},"tickerRelevance":{"others":[],"primary":"CMCM"},"globalImportance":25,"audienceRelevance":30,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"small-cap US-listed China ADR","eventGravity":"quarterly-earnings-mixed","sectorWeight":"AI/cloud/robotics narrative carries elevated retail interest","retailFavoriteBoost":"moderate — AI and robotics angle on a micro-cap","consensusComparisonAvailable":false}},"event_type":"earnings","event_type_secondary":null,"sentiment":"mixed","material_impact_score":3,"narrative":"Cheetah Mobile reported Q2 2026 total revenues of RMB266.1 million (US$39.2 million), down 9.9% year over year but up 2.7% sequentially, as advertising agency revenue collapsed 70% YoY to RMB22.0 million following rebate policy changes at a major global advertising platform.\n\nAI-driven segments offset the ad decline: cloud and AI infrastructure revenue jumped 83.1% YoY to RMB59.1 million with gross billings topping RMB500 million versus roughly RMB200 million a year ago, and robotics revenue rose 72.5% YoY to RMB54.5 million, aided by the UFACTORY acquisition.\n\nLosses still widened — GAAP operating loss was RMB33.6 million (US$5.0 million) versus RMB11.1 million a year ago, net loss attributable to shareholders reached RMB94.9 million (US$14.0 million) with a diluted loss per ADS of US$0.4550, and adjusted EBITDA was negative RMB21.0 million.\n\nThe quarter closed with US$187.3 million in cash, while Internet Services adjusted operating profit rose 67.2% sequentially to RMB25.4 million at a 19.4% margin, supporting management's AI-transformation thesis.","key_figures":{"eps":"GAAP diluted net loss per ADS of US$(0.4550) / RMB(3.1003)","revenue":"US$39.2 million (RMB266.1 million)","revenueYoy":"-9.9%","customDimensions":{"revenueQoq":"+2.7%","operating_loss":"RMB33.6 million (US$5.0 million)","adjusted_ebitda":"RMB(21.0) million (US$(3.1) million)","robotics_revenue":"RMB54.5 million, +72.5% YoY, +6.4% QoQ","net_loss_attributable":"RMB94.9 million (US$14.0 million)","cloud_ai_gross_billings":"exceeded RMB500 million vs ~RMB200 million a year ago","non_gaap_operating_loss":"RMB25.6 million (US$3.8 million)","cash_and_cash_equivalents":"RMB1,271.0 million (US$187.3 million)","robotics_adjusted_op_loss":"RMB34.0 million vs RMB26.9 million in Q1 2026","advertising_agency_revenue":"RMB22.0 million, -70.0% YoY","cloud_ai_infrastructure_revenue":"RMB59.1 million, +83.1% YoY, +26.2% QoQ","internet_services_adjusted_op_profit":"RMB25.4 million, +67.2% QoQ, 19.4% margin"}},"named_entities":{"people":[{"name":"Fu Sheng","role":"Chief Executive Officer"},{"name":"Thomas Ren","role":"Chief Financial Officer"},{"name":"Helen Jing Zhu","role":"Investor Relations Contact"}],"products":["cloud and AI infrastructure services","robotic products (lightweight robotic arms)","AI agent products","smart mobility initiatives","premium membership value-added services"],"companies":[{"name":"Cheetah Mobile Inc.","ticker":"CMCM","relationship":"filer"},{"name":"UFACTORY","relationship":"subsidiary (lightweight robotic arms provider acquired July 29, 2025)"}],"dollarAmounts":[{"amount":"US$39.2 million","context":"Q2 2026 total revenues"},{"amount":"RMB266.1 million","context":"Q2 2026 total revenues"},{"amount":"US$187.3 million","context":"cash and cash equivalents as of June 30, 2026"},{"amount":"RMB33.6 million","context":"Q2 2026 GAAP operating loss"},{"amount":"RMB59.1 million","context":"Q2 2026 cloud and AI infrastructure revenue"},{"amount":"RMB54.5 million","context":"Q2 2026 Robotics and others revenue"},{"amount":"RMB22.0 million","context":"Q2 2026 advertising agency services revenue"},{"amount":"RMB500 million","context":"cloud and AI infrastructure gross billings exceeded during the quarter"},{"amount":"US$5.0 million","context":"Q2 2026 operating loss in USD"}]},"model_name":"glm-5.3-flash","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-09-11T02:37:54.565Z","global_importance":25,"audience_relevance":30,"importance_components":{"tickerTier":"small-cap US-listed China ADR","eventGravity":"quarterly-earnings-mixed","sectorWeight":"AI/cloud/robotics narrative carries elevated retail interest","retailFavoriteBoost":"moderate — AI and robotics angle on a micro-cap","consensusComparisonAvailable":false}},"durationMs":55421,"modelName":"glm-5.3-flash"}}