$CMCM

Cheetah Mobile Inc.

CIK:0001597835|SEC Filings

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 CNY (¥) ¥ / shares shares	Dec. 31, 2025 USD ($) $ / shares shares	Dec. 31, 2024 CNY (¥) ¥ / shares shares	Dec. 31, 2023 CNY (¥) ¥ / shares shares
Revenues (a)
Total Revenues	¥ 1,150,444	$ 164,511	¥ 806,877	¥ 669,503
Cost of revenues (a)	(316,411)	(45,246)	(261,682)	(231,940)
Gross profit	834,033	119,265	545,195	437,563
Operating income and expenses (a)
Research and development	(346,152)	(49,499)	(243,391)	(178,207)
Selling and marketing	(362,735)	(51,870)	(342,421)	(242,511)
General and administrative	(266,522)	(38,112)	(244,385)	(229,549)
Impairment of goodwill and intangible assets	(41,563)	(5,943)	(152,890)
Other operating income, net	3,496	500	637	2,867
Total operating expenses	(1,013,476)	(144,924)	(982,450)	(647,400)
Operating loss	(179,443)	(25,659)	(437,255)	(209,837)
Other income (expenses)
Interest income, net	30,629	4,380	44,422	60,978
Foreign exchange (losses)/gains	30,783	4,402	(21,726)	(11,421)
Other income	36,896	5,276	52,059	96,765
Other expense	(145,548)	(20,813)	(191,828)	(574,135)
Loss before taxes	(226,683)	(32,414)	(554,328)	(637,650)
Income tax benefits/(expenses)	(8,469)	(1,211)	(47,258)	43,781
Net loss	(235,152)	(33,625)	(601,586)	(593,869)
Less: net income attributable to noncontrolling interests	22,561	3,226	15,971	9,029
Net loss	¥ (257,713)	$ (36,851)	¥ (617,557)	¥ (602,898)
Losses per share
Basic \| (per share)	¥ (0.1754)	$ (0.0251)	¥ (0.4161)	¥ (0.4095)
Diluted \| (per share)	(0.1764)	(0.0252)	(0.4162)	(0.41)
Basic \| (per share)	(8.7724)	(1.255)	(20.8042)	(20.474)
Diluted \| (per share)	¥ (8.8185)	$ (1.26)	¥ (20.8097)	¥ (20.4977)
Weighted average number of shares used in computation of ordinary shares:
Basic	1,533,473,068	1,533,473,068	1,503,054,847	1,472,615,281
Diluted	1,533,473,068	1,533,473,068	1,503,054,847	1,472,615,281
Other comprehensive (loss) income, net of tax of nil
Foreign currency translation adjustments	¥ (50,422)	$ (7,210)	¥ 49,045	¥ 45,769
Unrealized (losses)/gain on available-for-sale securities, net	1,121	160	2,642	(43,494)
Other comprehensive income/(loss)	(49,301)	(7,050)	51,687	2,275
Total comprehensive loss	(284,453)	(40,675)	(549,899)	(591,594)
Less: total comprehensive income attributable to noncontrolling interests	21,438	3,066	14,089	8,398
Total comprehensive loss attributable to Cheetah Mobile Inc.	(305,891)	(43,741)	(563,988)	(599,992)
Cost of Sales [Member]
Related party Transactions
Amount of transactions with related parties	(52,618)	(7,524)	(33,147)	(29,367)
Research and development
Related party Transactions
Amount of transactions with related parties	(7,977)	(1,141)	(8,545)	(8,632)
Selling and Marketing Expense [Member]
Related party Transactions
Amount of transactions with related parties	(2,022)	(289)	(921)	(1,419)
General and Administrative Expense [Member]
Related party Transactions
Amount of transactions with related parties	(3,160)	(452)	(4,685)	(7,292)
Related Party [Member]
Related party Transactions
Revenues	63,510	9,082	56,438	52,663
Internet Business [Member]
Revenues (a)
Total Revenues	615,281	87,984	517,188	450,134
AI and Others [Member]
Revenues (a)
Total Revenues	¥ 535,163	$ 76,527	¥ 289,689	¥ 219,369

CONSOLIDATED STATEMENTS OF CASH FLOWS ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)	Dec. 31, 2023 CNY (¥)
Cash flows from operating activities
Net loss	¥ (235,152)	$ (33,625)	¥ (601,586)	¥ (593,869)
Adjustments to reconcile net loss to net cash from operating activities
Depreciation of property and equipment	11,450	1,637	22,040	27,842
Amortization of intangible assets	135,785	19,417	29,413	7,420
Non-cash operating lease expense				319
Provision for credit losses	70,194	10,038	10,995	12,363
Impairment of assets	121,038	17,309	120,642	534,826
Impairment of Goodwil			152,890
Foreign currency exchange losses (gains)	(30,783)	(4,402)	21,726	11,421
(Gains) Losses on disposal of property and equipment and intangible assets	712	102	664	(31,751)
Losses (Gains) on disposal/deemed disposal of businesses and subsidiaries/VIEs	(643)	(92)	18,913
Gains on disposal of investments	(32,515)	(4,650)	(2,623)	(21,676)
Changes in fair value of financial assets	23,402	3,346	11,943	(116)
Share of losses from equity method investments	11,650	1,666	16,567	2,564
Deferred income tax (benefits) expenses	(11,023)	(1,577)	48,185	(44,631)
Share-based compensation expenses	19,840	2,838	26,101	33,554
Changes in operating assets and liabilities
Accounts receivable	(5,807)	(830)	(77,518)	(122,478)
Prepayments and other current assets	182,846	26,147	(388,767)	9,360
Due from related parties	5,054	723	(35,904)	(24,520)
Other non-current assets	9,562	1,367	78,020	(54,900)
Accounts payable	(7,714)	(1,103)	47,735	9,701
Accrued expenses and other current liabilities	(439,089)	(62,789)	287,684	791,702
Operating lease liabilities	(6,704)	(959)	(4,771)	1,178
Due to related parties	(5,726)	(819)	(14,835)	6,684
Income tax payable	19,491	2,787	3,857	(3,532)
Other non-current liabilities	(8,124)	(1,162)	(9,694)	(999)
Net cash provided by (used in) operating activities	(172,256)	(24,631)	(238,323)	550,462
Cash flows from investing activities
Purchases of property, plant and equipment and intangible assets	(12,845)	(1,837)	(22,827)	(9,680)
Purchase of long-term investments	(44,886)	(6,419)	(37,000)	(23,707)
Purchase of short-term investments	(949,463)	(135,771)	(1,084,661)	(1,176,030)
Proceeds from maturity of short-term investments	940,124	134,436	1,085,369	1,332,544
Proceeds from disposal of property and equipment and intangible assets			3,553	31,751
Proceeds from disposals of and distributions received from long-term investments	31,239	4,467	21,476	36,556
Loans to related parties			(7,000)
Loans to third parties	(3,175)	(454)	(5,000)	(3,000)
Repayment of loans from related parties	4,800	686	7,000
Repayment of loans from third parties			5,000	653
Purchase of subsidiaries, net of cash acquired	(31,361)	(4,485)		(238,148)
Net cash used in investing activities	(65,567)	(9,377)	(34,090)	(49,061)
Cash flows from financing activities
Purchase of share awards and shares from noncontrolling shareholders	(20,786)	(2,972)	(1,054)	(5,869)
Payment of dividends to noncontrolling shareholders and owners of share awards	(616)	(88)	(583)	(909)
Repayment for bank loans			(5,000)
Proceeds from non-controlling shareholder capital injection			75,750
Repayment of loan to a related party	(44,741)	(6,398)
Proceeds from exercise of share options	1,922	275
Net cash (used in) provided by financing activities	(64,221)	(9,183)	69,113	(6,778)
Effect of exchange rate changes on cash and cash equivalents	(24,362)	(3,484)	16,140	9,073
Net increase (decrease) in cash and cash equivalents and restricted cash	(326,406)	(46,675)	(187,160)	503,696
Cash and cash equivalents and restricted cash at beginning of the year	1,833,031	262,120	2,020,191	1,516,495
Cash and cash equivalents and restricted cash at end of the year	1,506,625	215,445	1,833,031	2,020,191
Supplemental disclosures
Cash payments for income taxes	(11,732)	(1,678)	(2,688)	(1,752)
Cash payments for interest expenses	(4,952)	(708)	(57)
Cash payments for operating leases	(18,469)	(2,641)	(17,223)	(14,925)
Right-of-use assets obtained in exchange for operating lease liabilities-Non-cash	5,286	756	¥ 10,243	10,032
Non-cash investing and financing activities:
Acquisition of property and equipment and intangible assets included in accrued expenses and other current liabilities	3,034	434		¥ 664
Conversion of convertible other non-current assets to long-term investments	¥ 3,000	$ 429

CONSOLIDATED BALANCE SHEETS ¥ in Thousands, $ in Thousands	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)
Current assets
Cash and cash equivalents	¥ 1,506,625	$ 215,445	¥ 1,833,031
Short-term investments	9,527	1,362	335
Accounts receivable (net of allowance for credit losses of RMB142,834 and RMB159,596 (US$22,822) as of December 31, 2024 and 2025, respectively)	468,058	66,931	473,619
Prepayments and other current assets, net	1,154,774	165,132	1,365,761
Total current assets	3,233,805	462,429	3,779,680
Non-current assets
Property and equipment, net	40,238	5,754	51,564
Operating lease right-of-use assets	16,833	2,407	26,323
Intangible assets, net	54,069	7,732	190,665
Goodwill	460,034	65,784	424,099
Long-term investments	688,459	98,448	817,330
Deferred tax assets	112,913	16,146	128,581
Other non-current assets	77,521	11,085	86,059
Total non-current assets	1,450,067	207,356	1,724,621
Total assets	4,683,872	669,785	5,504,301
Current liabilities (including current liabilities of the VIEs and VIEs' subsidiaries without recourse to the Company of RMB370,798 and RMB287,680 (US$41,138) as of December 31, 2024 and 2025, respectively) (Note 1)
Accounts payable	211,689	30,271	219,566
Accrued expenses and other current liabilities	2,264,659	323,842	2,756,805
Income tax payable	54,430	7,783	35,804
Total current liabilities	2,549,391	364,558	3,081,781
Non-current liabilities (including non-current liabilities of the VIEs and VIEs' subsidiaries without recourse to the Company of RMB1,588 and RMB987 (US$141) as of December 31, 2024 and 2025, respectively) (Note 1)
Deferred tax liabilities	21,711	3,105	43,046
Other non-current liabilities	154,422	22,082	172,348
Total non-current liabilities	176,133	25,187	215,394
Total liabilities	2,725,524	389,745	3,297,175
Commitments and contingencies
Mezzanine equity:
Redeemable noncontrolling interests	197,560	28,251	189,725
Shareholders' equity
Additional paid-in capital	2,736,117	391,260	2,722,504
Accumulated losses	(1,490,947)	(213,203)	(1,232,577)
Accumulated other comprehensive income	362,245	51,800	410,423
Total shareholders' equity	1,607,669	229,893	1,900,598
Noncontrolling interests	153,119	21,896	116,803
Total shareholders' equity	1,760,788	251,789	2,017,401
Total liabilities, mezzanine equity and shareholder's equity	4,683,872	669,785	5,504,301
Related Party [Member]
Current assets
Due from related parties, net	94,821	13,559	106,934
Current liabilities (including current liabilities of the VIEs and VIEs' subsidiaries without recourse to the Company of RMB370,798 and RMB287,680 (US$41,138) as of December 31, 2024 and 2025, respectively) (Note 1)
Due to related parties	18,613	2,662	69,606
Common Class A [Member]
Shareholders' equity
Ordinary shares	85	12	83
Common Class B [Member]
Shareholders' equity
Ordinary shares	¥ 169	$ 24	¥ 165