Cheetah Mobile Announces Third Quarter 2024 Unaudited Consolidated Financial Results
BEIJING, Dec. 17, 2024 /PRNewswire/ -- Cheetah Mobile Inc. (NYSE: CMCM) ("Cheetah Mobile" or the "Company"), a China-based IT company, today announced its unaudited consolidated financial results for the third quarter ended September 30, 2024.
Management Commentary
Mr. Sheng Fu, Cheetah Mobile's Chairman and Chief Executive Officer, remarked, "Our third-quarter results demonstrate strong momentum, with accelerated revenue growth fueled by robust performance in our service robotics and internet businesses. We're seeing rising demand for service robots as a supplement to human labor, particularly in hospitality, manufacturing, and logistics sectors. Drawing on our extensive experience delivering service robots worldwide, we continue to innovate by refining product experiences and introducing targeted solutions to address specific industry needs. Looking ahead, the integration of large language models represents a pivotal opportunity to enhance our robots' intelligence and deployment efficiency, unlocking new avenues for growth. With a clear strategy and a focus on innovation, we're well-positioned to capitalize on the immense potential of the trillion-dollar robotics market."
Mr. Thomas Ren, Chief Financial Officer of Cheetah Mobile, commented: "In the third quarter, we continued to make meaningful progress in reducing our operating losses. This marks the second consecutive quarter of sequential improvement, driven by ongoing efforts to enhance operational efficiency. Notably, the operating margin for our internet business, excluding share-based compensation, improved to 10.3%--an increase of 4 percentage points compared to 6.2% in the same period last year "
Third Quarter 2024 Financial Highlight
-- Total revenues grew by 16.6% year-over-year, accelerating to RMB192.1
million (US$27.4 million) in the third quarter of 2024.
-- Gross profit increased by 13.9% year-over-year and 7.3%
quarter-over-quarter, to RMB130.4 million (US$18.6 million) in the third
quarter of 2024. On a non-GAAP basis, gross profit rose by 13.9%
year-over-year and 7.0% quarter-over-quarter to RMB130.5 million
(US$18.6 million).
-- Operating loss narrowed to RMB72.0 million (US$10.3 million) in the
third quarter of 2024, improving from RMB77.5 in the previous quarter.
However, the number was RMB41.0 million in the same period of last year.
On a non-GAAP basis, operating loss in the third quarter of 2024
improved from RMB62.5 million in the previous quarter to RMB60.5 million
(US$8.6 million). However, the number was RMB33.0 million in the same
period of last year.
-- Net loss attributable to Cheetah Mobile shareholders was RMB46.9 million
(US$6.7 million), a significant improvement from RMB123.8 million in the
previous quarter. However, the number was RMB24.3 million in the same
period of last year. On a non-GAAP basis, net loss attributable to
Cheetah Mobile shareholders was RMB35.4 million (US$5.0 million), a
significant improvement from RMB108.8 million in the previous quarter.
However, the number was RMB16.3 million in the same period of last year.
-- As of September 30, 2024, the Company had cash and cash equivalents of
RMB1,530.5 million (US$218.1 million), ensuring strong liquidity.
-- As of September 30, 2024, the Company had long-term investments of
RMB885.9 million (US$126.2 million).
Third Quarter 2024 Consolidated Financial Results
Total revenues grew by 16.6% year over year to RMB192.1 million (US$27.4 million) in the third quarter of 2024.
-- Revenues from internet business increased by 25.8% year over year to
RMB134.3 million (US$19.1 million) in the third quarter of 2024, as our
legacy business remained resilient.
-- Revenues from AI and others remained relatively flat year over year to
RMB57.8 million (US$8.2 million) in the third quarter of 2024. This
stability was achieved despite an approximately 68% year-over-year
decline in revenue from the overseas advertising agency business, which
was offset by an increase in revenue from sale of service robots
following the acquisition of Beijing OrionStar in November 2023.
Cost of revenues increased by 22.6% year over year to RMB61.7 million (US$8.8 million) in the third quarter of 2024. The increases were primarily attributable to the increase in the hardware-related costs for the Company's service robots. Non-GAAP cost of revenues increased by 22.6% year over year to RMB61.6 million (US$8.8 million) in the third quarter of 2024.
Gross profit increased by 13.9% year over year to RMB130.4 million (US$18.6 million) in the third quarter of 2024. Non-GAAP gross profit increased by 13.9% year over year to RMB130.5 million (US$18.6 million) in the third quarter of 2024.
Total operating expenses increased by 30.2% year over year to RMB202.4 million (US$28.8 million) in the third quarter of 2024. Total non-GAAP operating expenses increased by 29.4% year over year to RMB190.9 million (US$27.2 million) in the third quarter of 2024.
-- Research and development expenses increased by 44.8% year over year to
RMB66.3 million (US$9.4 million) in the third quarter of 2024, primarily
due to: 1) increased amortization of intangible assets resulting from
the acquisition of a controlling stake in Beijing OrionStar; and 2)
higher R&D personnel-related expenses following the acquisition of
Beijing OrionStar. Non-GAAP research and development expenses increased
by 31.2% year over year to RMB59.9 million (US$8.5 million) in the third
quarter of 2024.
-- Selling and marketing expenses increased by 62.1% year over year to
RMB89.0 million (US$12.7 million) in the third quarter of 2024,
primarily due to: 1) increased marketing and promotion expenses related
to our user acquisition for certain products of our internet business;
and 2) increased personnel-related expenses following the acquisition of
in Beijing OrionStar. Non-GAAP selling and marketing expenses increased
by 61.9% year over year to RMB88.8 million (US$12.7 million) in the
third quarter of 2024.
-- General and administrative expenses decreased by 14.8% year over year to
RMB47.3 million (US$6.7 million) in the third quarter of 2024, primarily
due to: 1) reduced stock-based compensation expenses, 2) reduced
professional and legal service fees, 3) a reduction in the provision for
credit losses. Non-GAAP general and administrative expenses decreased by
11.2% year over year to RMB42.5 million (US$6.1 million) in the third
quarter of 2024.
Operating loss narrowed to RMB72.0 million (US$10.3 million) in the third quarter of 2024, improving from RMB77.5 in the previous quarter. However, the number was RMB41.0 million in the same period of last year. Non-GAAP operating loss improved to RMB60.5 million (US$8.6 million) in the third quarter of 2024, from RMB62.5 million in the previous quarter. However, the number was RMB33.0 million in the same period of last year.
By segment, operating margin excluding share-based compensation expense for internet business improved to 10.3% in the third quarter of 2024, from 6.2% in the same period of last year.
Net loss attributable to Cheetah Mobile shareholders was RMB46.9 million (US$6.7 million), a significant improvement from RMB123.8 million in the previous quarter. However, the number was RMB24.3 million in the same period of last year. Non-GAAP net loss attributable to Cheetah Mobile shareholders was RMB35.4 million (US$5.0 million), a significant improvement from RMB108.8 million in the previous quarter. However, the number was RMB16.3 million in the same period of last year.
Balance Sheet
As of September 30, 2024, the Company had cash and cash equivalents of RMB1,530.5 million (US$218.1 million), ensuring strong liquidity.
As of September 30, 2024, the Company had long-term investments of RMB885.9 million (US$126.2 million).
Conference Call Information
The Company will hold a conference call on December 17th, 2024, at 6:00 a.m. Eastern Time (or 7:00 p.m. Beijing Time) to discuss its financial results. Listeners may access the call by dialing the following numbers:
Main Line:
International: 1-412-317-6061
United States Toll Free: 1-888-317-6003
Mainland China Toll Free: 4001-206115
Hong Kong Toll Free: 800-963976
Conference ID: 7464171
English Translation:
International: 1-412-317-6061
United States Toll Free: 1-888-317-6003
Mainland China Toll Free: 4001-206115
Hong Kong Toll Free: 800-963976
Conference ID: 0402119
A live and archived webcast of the conference call will also be available at the Company's investor relations website at http://ir.cmcm.com.
Exchange Rate
This press release contains translations of certain Renminbi amounts into U.S. dollars at specified rates solely for the convenience of readers. Unless otherwise noted, all translations from Renminbi to U.S. dollars in this press release were made at a rate of RMB7.0176 to US$1.00, the exchange rate in effect as of September 30, 2024, as set forth in the H.10 statistical release of the Federal Reserve Board. Such translations should not be construed as representations that RMB amounts could be converted into U.S. dollars at that rate or any other rate, or to be the amounts that would have been reported under accounting principles generally accepted in the United States of America ("U.S. GAAP").
About Cheetah Mobile Inc.
Cheetah Mobile is a China-based IT company with a commitment to AI innovation. It has attracted hundreds of millions of users through an array of internet products and services on PCs and mobile devices. At the same time, it actively engages in the independent research and development of AI technologies, including LLM technologies. Cheetah Mobile provides advertising services to advertisers worldwide, value-added services including the sale of premium membership to its users, multi-cloud management platform to companies globally, as well as service robots to international clients. Cheetah Mobile is also committed to leveraging its cutting-edge AI technologies, including LLM technologies, to empower its products and make the world smarter. It has been listed on the New York Stock Exchange since May 2014.
Safe Harbor Statement
This press release contains forward-looking statements. These statements, including management quotes and business outlook, constitute forward-looking statements under the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Such statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in the forward-looking statements, including but are not limited to the following: Cheetah Mobile's growth strategies; Cheetah Mobile's ability to retain and increase its user base and expand its product and service offerings; Cheetah Mobile's ability to monetize its platform; Cheetah Mobile's future business development, financial condition and results of operations; competition with companies in a number of industries including internet companies that provide online marketing services and internet value-added services; expected changes in Cheetah Mobile's revenues and certain cost or expense items; and general economic and business condition globally and in China. Further information regarding these and other risks is included in Cheetah Mobile's filings with the U.S. Securities and Exchange Commission. Cheetah Mobile does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
Use of Non-GAAP Financial Measures
This release contains non-GAAP financial measures, including but not limited to:
-- Non-GAAP cost of revenues excludes share-based compensation expenses;
-- Non-GAAP gross profit excludes share-based compensation expenses;
-- Non-GAAP gross margin excludes share-based compensation expenses;
-- Total non-GAAP operating expenses exclude share-based compensation
expenses and amortization of intangible assets resulting from business
acquisitions;
-- Non-GAAP research and development expenses exclude share-based
compensation expenses and amortization of intangible assets resulting
from business acquisitions;
-- Non-GAAP selling and marketing expenses exclude share-based compensation
expenses and amortization of intangible assets resulting from business
acquisitions;
-- Non-GAAP general and administrative expenses exclude share-based
compensation expenses;
-- Non-GAAP operating profit/loss excludes share-based compensation
expenses and amortization of intangible assets resulting from business
acquisitions;
-- Non-GAAP net income/loss attributable to Cheetah Mobile shareholders
excludes share-based compensation expenses and amortization of
intangible assets resulting from business acquisitions;
-- Non-GAAP diluted earnings/losses per ADS excludes share-based
compensation expenses and amortization of intangible assets resulting
from business acquisitions; and
-- Non-GAAP adjusted EBITDA represents net income/loss attributable to
Cheetah Mobile shareholders excluding share-based compensation, interest
income, depreciation and amortization, net income attributable to
noncontrolling interests, other income/expenses, net and income tax
expenses.
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 and amortization of 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".
CHEETAH MOBILE INC.
Condensed Consolidated Balance Sheets
(Unaudited, amounts in thousands of Renminbi ("RMB") and US dollars ("US$"))
As of
December 31, 2023 September 30, 2024
RMB RMB USD
ASSETS
Current assets:
Cash and cash equivalents 2,020,191 1,530,493 218,094
Short-term investments 1,023 345 49
Accounts receivable, net 401,064 418,555 59,644
Prepayments and other current assets, net 973,127 1,352,467 192,725
Due from related parties, net 71,505 107,418 15,307
Total current assets 3,466,910 3,409,278 485,819
Non-current assets:
Property and equipment, net 53,884 55,522 7,912
Operating lease right-of-use assets 30,451 28,839 4,110
Intangible assets, net 218,559 197,152 28,094
Goodwill 576,989 576,989 82,220
Long-term investments 937,460 885,852 126,233
Deferred tax assets 188,503 193,229 27,535
Other non-current assets 160,428 86,583 12,338
Total non-current assets 2,166,274 2,024,166 288,442
Total assets 5,633,184 5,433,444 774,261
LIABILITIES, MEZZANINE EQUITY AND
SHAREHOLDERS' EQUITY
Current liabilities:
Bank loans 5,000
Accounts payable 170,185 176,321 25,126
Accrued expenses and other current liabilities 2,437,210 2,405,699 342,811
Due to related parties 84,147 87,171 12,422
Income tax payable 31,603 35,220 5,019
Total current liabilities 2,728,145 2,704,411 385,378
Non-current liabilities:
Deferred tax liabilities 54,540 50,242 7,159
Other non-current liabilities 189,943 172,365 24,562
Total non-current liabilities 244,483 222,607 31,721
Total liabilities 2,972,628 2,927,018 417,099
Mezzanine equity:
Redeemable noncontrolling interests 105,978 187,688 26,745
Shareholders' equity:
Ordinary shares 244 247 35
Additional paid-in capital 2,711,875 2,719,399 387,511
Accumulated deficit (613,102) (865,405) (123,319)
Accumulated other comprehensive income 356,854 349,765 49,841
Total Cheetah Mobile Inc. shareholders' equity 2,455,871 2,204,006 314,068
Noncontrolling interests 98,707 114,732 16,349
Total shareholders' equity 2,554,578 2,318,738 330,417
Total liabilities, mezzanine equity and 5,633,184 5,433,444 774,261
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 Nine Months Ended
September 30, September 30, September 30, September 30, September 30, September 30,
2023 2024 2024 2023 2024 2024
RMB RMB USD RMB RMB USD
Revenues 164,804 192,083 27,372 502,189 569,788 81,194
Internet business 106,778 134,287 19,136 342,423 357,036 50,877
AI and others 58,026 57,796 8,236 159,766 212,752 30,317
Cost of revenues (a) (50,348) (61,714) (8,794) (163,697) (197,365) (28,124)
Gross profit 114,456 130,369 18,578 338,492 372,423 53,070
Operating income and
expenses:
Research and development (a) (45,769) (66,269) (9,443) (138,623) (177,885) (25,348)
Selling and marketing (a) (54,938) (89,038) (12,688) (185,765) (237,570) (33,853)
General and administrative (a) (55,588) (47,349) (6,747) (166,047) (188,104) (26,805)
Other operating income, net 838 278 40 3,053 1,014 144
Total operating income and (155,457) (202,378) (28,838) (487,382) (602,545) (85,862)
expenses
Operating loss (41,001) (72,009) (10,260) (148,890) (230,122) (32,792)
Other income/(expenses):
Interest income, net 17,912 9,471 1,350 45,150 34,560 4,925
Foreign exchange gains/ (losses) 5,392 21,351 3,042 (28,829) 10,510 1,498
Other (expense)/income, net (1,974) 1,738 248 (156,126) (57,469) (8,189)
Loss before taxes (19,671) (39,449) (5,620) (288,695) (242,521) (34,558)
Income tax (expenses)/ benefits (218) (2,387) (340) (3,979) 3,806 542
Net loss (19,889) (41,836) (5,960) (292,674) (238,715) (34,016)
Less: net income attributable to 4,403 5,061 721 9,011 12,058 1,718
noncontrolling interests
Net loss attributable to (24,292) (46,897) (6,681) (301,685) (250,773) (35,734)
Cheetah Mobile shareholders
Net loss per share
Basic (0.0144) (0.0323) (0.0046) (0.2029) (0.1711) (0.0244)
Diluted (0.0144) (0.0323) (0.0046) (0.2031) (0.1711) (0.0244)
Net loss per ADS
Basic (0.7196) (1.6150) (0.2300) (10.1463) (8.5542) (1.2200)
Diluted (0.7206) (1.6150) (0.2300) (10.1549) (8.5569) (1.2200)
Weighted average number of
shares outstanding
Basic 1,492,599,000 1,509,057,830 1,509,057,830 1,465,560,326 1,499,799,151 1,499,799,151
Diluted 1,492,599,000 1,509,057,830 1,509,057,830 1,465,560,326 1,499,799,151 1,499,799,151
Weighted average number of
ADSs outstanding
Basic 29,851,980 30,181,157 30,181,157 29,311,207 29,995,983 29,995,983
Diluted 29,851,980 30,181,157 30,181,157 29,311,207 29,995,983 29,995,983
Other comprehensive
(loss)/income , net of tax of nil
Foreign currency translation (33,261) (32,036) (4,565) 74,881 (2,622) (374)
adjustments
Unrealized gains/(loss) on 2,799 399 (43,494) (4,635) (660)
available-for-sale securities, net
Other comprehensive (loss)/ (33,261) (29,237) (4,166) 31,387 (7,257) (1,034)
income
Total comprehensive loss (53,150) (71,073) (10,126) (261,287) (245,972) (35,050)
Less: Total comprehensive 3,835 7,346 1,047 7,712 11,890 1,694
income attributable to
noncontrolling interests
Total comprehensive loss (56,985) (78,419) (11,173) (268,999) (257,862) (36,744)
attributable to Cheetah Mobile
shareholders
For The Three Months Ended
For The Nine Months Ended
September 30, September 30, September 30, September 30, September 30, September 30,
2023 2024 2024 2023 2024 2024
(a) Share-based compensation expenses RMB RMB USD RMB RMB USD
Cost of revenues 73 92 13 299 541 77
Research and development 136 236 34 1,006 644 92
Selling and marketing 46 (277) (39) 437 (167) (24)
General and administrative 7,738 4,863 693 24,381 19,939 2,841
Total 7,993 4,914 701 26,123 20,957 2,986
CHEETAH MOBILE INC.
Reconciliation of GAAP and Non-GAAP Results
(Unaudited, amounts in thousands of Renminbi ("RMB") and US dollars ("US$"), except for per share data )
For The Three Months Ended September 30, 2024 For The Nine Months Ended September 30, 2024
GAAP Share-based Amortization Non-GAAP GAAP Share-based Amortization
of of Non-GAAP
Result Compensation intangible Result Result Compensation intangible Result
assets* assets*
RMB RMB RMB RMB USD RMB RMB RMB RMB USD
Revenues 192,083 192,083 27,372 569,788 569,788 81,194
Cost of revenues (61,714) 92 (61,622) (8,781) (197,365) 541 (196,824) (28,047)
Gross profit 130,369 92 130,461 18,591 372,423 541 372,964 53,147
Research and development (66,269) 236 6,156 (59,877) (8,532) (177,885) 644 18,468 (158,773) (22,625)
Selling and marketing (89,038) (277) 469 (88,846) (12,660) (237,570) (167) 1,407 (236,330) (33,676)
General and administrative (47,349) 4,863 (42,486) (6,054) (188,104) 19,939 (168,165) (23,964)
Other operating income, net 278 278 40 1,014 1,014 144
Total operating income and expenses (202,378) 4,822 6,625 (190,931) (27,206) (602,545) 20,416 19,875 (562,254) (80,121)
Operating loss (72,009) 4,914 6,625 (60,470) (8,615) (230,122) 20,957 19,875 (189,290) (26,974)
Net loss attributable to Cheetah Mobile (46,897) 4,914 6,625 (35,358) (5,036) (250,773) 20,957 19,875 (209,941) (29,916)
shareholders
Diluted losses per ordinary share (RMB) (0.0323) 0.0033 0.0044 (0.0246) (0.1711) 0.0140 0.0132 (0.1439)
Diluted losses per ADS (RMB) (1.6150) 0.1650 0.2200 (1.2300) (8.5569) 0.7000 0.6619 (7.1950)
Diluted losses per ADS (USD) (0.2300) 0.0235 0.0312 (0.1753) (1.2200) 0.0997 0.0950 (1.0253)
For The Three Months Ended September 30, For The Nine Months Ended September 30,
2023 2023
GAAP Share-based Non-GAAP GAAP Share-based Non-GAAP
Result Compensation Result Result Compensation Result
RMB RMB RMB RMB RMB RMB
Revenues 164,804 164,804 502,189 502,189
Cost of revenues (50,348) 73 (50,275) (163,697) 299 (163,398)
Gross profit 114,456 73 114,529 338,492 299 338,791
Research and development (45,769) 136 (45,633) (138,623) 1,006 (137,617)
Selling and marketing (54,938) 46 (54,892) (185,765) 437 (185,328)
General and administrative (55,588) 7,738 (47,850) (166,047) 24,381 (141,666)
Other operating income, net 838 838 3,053 3,053
Total operating income and expenses (155,457) 7,920 (147,537) (487,382) 25,824 (461,558)
Operating loss (41,001) 7,993 (33,008) (148,890) 26,123 (122,767)
Net loss attributable to Cheetah Mobile shareholders (24,292) 7,993 (16,299) (301,685) 26,123 (275,562)
Diluted losses per ordinary share (RMB) (0.0144) 0.0053 (0.0091) (0.2031) 0.0178 (0.1853)
Diluted losses per ADS (RMB) (0.7206) 0.2656 (0.4550) (10.1549) 0.8899 (9.2650)
* This represents amortization of intangible assets resulting from business acquisitions.
CHEETAH MOBILE INC.
Information about Segment
(Unaudited, amounts in thousands of Renminbi ("RMB") and US dollars ("US$"), except for percentage)
For The Three Months Ended September 30, 2024 For The Nine Months Ended September 30, 2024
Internet AI and Unallocated* Consolidated Internet AI and
others others Unallocated* Consolidated
Business Business
RMB RMB RMB RMB USD RMB RMB RMB RMB USD
Revenue 134,287 57,796 192,083 27,372 357,036 212,752 569,788 81,194
Operating profit/(loss) 13,805 (80,900) (4,914) (72,009) (10,260) 36,626 (245,791) (20,957) (230,122) (32,792)
Operating margin 10.3 % (140.0) % (37.5) % (37.5) % 10.3 % (115.5) % (40.4) % (40.4) %
For The Three Months Ended September 30, 2023 For The Nine Months Ended September 30, 2023
Internet AI and Unallocated* Consolidated Internet AI and
Business others Business others Unallocated* Consolidated
RMB RMB RMB RMB RMB RMB RMB RMB
Revenue 106,778 58,026 164,804 342,423 159,766 502,189
Operating profit/(loss) 6,646 (39,654) (7,993) (41,001) 16,771 (139,538) (26,123) (148,890)
Operating margin 6.2 % (68.3) % (24.9) % 4.9 % (87.3) % (29.6) %
*Unallocated expenses refer to SBC expenses that are not allocated to individual segments.
CHEETAH MOBILE INC.
Reconciliation from Net Loss Attributable to Cheetah Mobile Shareholders to Adjusted EBITDA (Non-GAAP)
(Unaudited, amounts in thousands of Renminbi ("RMB") and US dollars ("US$"))
For The Three Months Ended For The Nine Months Ended
September 30, September 30, September 30, September 30, September 30, September 30,
2023 2024 2024 2023 2024 2024
RMB RMB USD RMB RMB USD
Net loss attributable to Cheetah Mobile (24,292) (46,897) (6,681) (301,685) (250,773) (35,734)
shareholders
Add:
Income tax expenses/ (benefits) 218 2,387 340 3,979 (3,806) (542)
Interest income, net (17,912) (9,471) (1,350) (45,150) (34,560) (4,925)
Depreciation and other amortization 6,881 12,205 1,739 23,987 36,834 5,249
Net income attributable to noncontrolling 4,403 5,061 721 9,011 12,058 1,718
interests
Other (income)/ expense, net (3,418) (23,089) (3,290) 184,955 46,959 6,691
Share-based compensation 7,993 4,914 701 26,123 20,957 2,986
Adjusted EBITDA (26,127) (54,890) (7,820) (98,780) (172,331) (24,557)
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SOURCE Cheetah Mobile
