Buckingham Palace released details of Prince Philip’s upcoming funeral, including that there will be no military uniforms and Prince William and Prince Harry won’t stand beside each other during the procession.
Buckingham Palace released details of Prince Philip’s upcoming funeral, including that there will be no military uniforms and Prince William and Prince Harry won’t stand beside each other during the procession.
The "Hubie Halloween" star went viral again for his everyday guy-ness.
The "Singapore Data Center Market - Investment Analysis and Growth Opportunities 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The 14-week inquest into the disaster in 2016 is due to hear its first evidence later today.
Brent futures were up 0.9% to $70.09 and crude futures were 0.8% higher to $66.79.
Carmaker Stellantis and Taiwan’s Foxconn on Tuesday announced plans to develop a jointly operated automotive supplier focusing on technology to make vehicles more connected, including artificial intelligence-based applications and 5-G communications. Stellantis CEO Carlos Tavares said the services that will be developed through the tie-up “will mark the next great evolution of our industry,” alongside fully electrified and hybrid powertrains. The deal brings together Stellantis, the world’s 4th-largest automaker formed this year by the merger of Fiat Chrysler Automobiles and PSA Peugeot, and Foxconn, a major supplier of iPhones.
Here’s what Jordan Staal did to help lift the Hurricanes past Nashville in front of the largest crowd of the season at PNC Arena. Said Canes coach Rod Brind’Amour: “He was great.”
A businessman suspected of helping Russia purchase sophisticated machinery in breach of arms export rules has been detained in Germany, prosecutors said Tuesday. The man, identified only as Alexander S. because of privacy rules, was detained by German customs officials in the eastern city of Leipzig. The suspect is accused of running a trading company that had ties to a business in Russia controlled by a Russian intelligence agency.
As the global outlook for Cryptocurrency and traditional forex continues to prove hard to predict, arbitrage trading is increasingly being used by both novice and experienced Altcoin & Bitcoin traders alike to help mitigate transaction exposure and boost profits.
The "Mexico Gambling Market (2020-2026): Market Forecast by Product Type (Betting, Casino, Lottery & Others (Poker, Bingo, Etc), by Channel Type (Online, Land-Based) and Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
AB de Villiers played 7 games in IPL 2021, scoring 207 runs with two fifties to his name.
Macy’s emerged from an unprecedented year with a surprising swing back into the profit column and it and boosted its guidance for all of 2021. Shares jumped 7% before the opening bell Tuesday. The retailer on Tuesday posted net income of $103 million after massive losses during the same period last year when stores were forced to lock their doors in an effort to halt the spread of COVID-19. On a per-share basis, the New York company's net income was 32 cents, or 39 cents if one-time charges are removed. Earnings, adjusted for one-time gains and costs, came to 39 cents per share, when Wall Street was looking for losses of about 41 cents per share, according to a survey by Zacks Investment Research. Revenue of $4.71 billion also exceeded analyst projections. Macy’s expects full-year revenue in the range of $21.73 billion to $22.23 billion, up from its previous projections of $19.75 billion to $20.75 billion. Macy's has pushed much of its sales online and expects digital sales to reach $10 billion within the next three years, but noted that online sales are two to three times higher in markets where Macy’s stores exist. During the pandemic, the company pared back inventory and closed some stores. It also launched curbside pickup last year and is expanding its off-price concept BackStage. Anne D'innocenzio, The Associated Press
Boris Johnson’s controversial former aide also suggested vaccines could have been developed sooner if greater risks were taken.
Parvathy, in a series of tweets, urged that the upcoming government should opt for an online swearing-in ceremony and avoid public gathering amid pandemic.
Proposed merger between Groupe TF1 and Groupe M6
Soft Tissue Allograft Market Research Report by Type (Amniotic Allograft, Cartilage, Collagen Allograft, Dental Allograft, and Meniscus Allograft), by Application (Dentistry, Orthopedic, and Wound Care), by End User - Global Forecast to 2025 - Cumulative Impact of COVID-19New York, May 18, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Soft Tissue Allograft Market Research Report by Type, by Application, by End User - Global Forecast to 2025 - Cumulative Impact of COVID-19" - https://www.reportlinker.com/p05911563/?utm_source=GNW Market Statistics:The report provides market sizing and forecast across five major currencies - USD, EUR GBP, JPY, and AUD. This helps organization leaders make better decisions when currency exchange data is readily available.1. The Global Soft Tissue Allograft Market is expected to grow from USD 4,300.91 Million in 2020 to USD 6,140.23 Million by the end of 2025.2. The Global Soft Tissue Allograft Market is expected to grow from EUR 3,771.11 Million in 2020 to EUR 5,383.87 Million by the end of 2025.3. The Global Soft Tissue Allograft Market is expected to grow from GBP 3,352.53 Million in 2020 to GBP 4,786.27 Million by the end of 2025.4. The Global Soft Tissue Allograft Market is expected to grow from JPY 459,016.09 Million in 2020 to JPY 655,318.86 Million by the end of 2025.5. The Global Soft Tissue Allograft Market is expected to grow from AUD 6,245.49 Million in 2020 to AUD 8,916.44 Million by the end of 2025.Market Segmentation & Coverage:This research report categorizes the Soft Tissue Allograft to forecast the revenues and analyze the trends in each of the following sub-markets:Based on Type, the Soft Tissue Allograft Market studied across Amniotic Allograft, Cartilage, Collagen Allograft, Dental Allograft, Meniscus Allograft, and Tendon Allograft. The Cartilage further studied across Elastic Cartilage, Fibro Cartilage, and Hyaline Cartilage. The Dental Allograft further studied across Connective Tissue Graft, Free Gingival Graft, and Pedicle Graft. The Tendon Allograft further studied across Achilles Tendon, Patellar Tendon, and Tibialis. Based on Application, the Soft Tissue Allograft Market studied across Dentistry, Orthopedic, and Wound Care. The Dentistry further studied across Aesthetics and Dental Sensitivity. The Orthopedic further studied across General Orthopedic, Reconstruction, Spine Injuries, and Sports Medicine. Based on End User, the Soft Tissue Allograft Market studied across Aesthetic Clinics, Ambulatory Surgical Centers, Dental Clinics, Hospitals, and Orthopedic Clinics. Based on Geography, the Soft Tissue Allograft Market studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas region surveyed across Argentina, Brazil, Canada, Mexico, and United States. The Asia-Pacific region surveyed across China, India, Indonesia, Japan, Malaysia, Philippines, South Korea, and Thailand. The Europe, Middle East & Africa region surveyed across France, Germany, Italy, Netherlands, Qatar, Russia, Saudi Arabia, South Africa, Spain, United Arab Emirates, and United Kingdom. Company Usability Profiles:The report deeply explores the recent significant developments by the leading vendors and innovation profiles in the Global Soft Tissue Allograft Market including Acera Surgical, Inc., Allergan, PLC, AlonSource Group, Arthrex, Inc, B. Braun Melsungen AG, Becton, Dickinson and Company, Bone Bank Allografts, CONMED Corporation, Institut Straumann AG, Integra LifeSciences Corporation, Johnson & Johnson, Lattice Biologics Ltd, Medtronic PLC, MiMedx Group, Misonix, Inc., Ortho Regenerative Technologies Inc., Smith & Nephew PLC, Stryker Corporation, Xtant Medical Holdings Inc, and Zimmer Biomet Holdings Inc. Cumulative Impact of COVID-19:COVID-19 is an incomparable global public health emergency that has affected almost every industry, so for and, the long-term effects projected to impact the industry growth during the forecast period. Our ongoing research amplifies our research framework to ensure the inclusion of underlaying COVID-19 issues and potential paths forward. The report is delivering insights on COVID-19 considering the changes in consumer behavior and demand, purchasing patterns, re-routing of the supply chain, dynamics of current market forces, and the significant interventions of governments. The updated study provides insights, analysis, estimations, and forecast, considering the COVID-19 impact on the market.FPNV Positioning Matrix:The FPNV Positioning Matrix evaluates and categorizes the vendors in the Soft Tissue Allograft Market on the basis of Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) that aids businesses in better decision making and understanding the competitive landscape.Competitive Strategic Window:The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies. The Competitive Strategic Window helps the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. During a forecast period, it defines the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth.The report provides insights on the following pointers:1. Market Penetration: Provides comprehensive information on the market offered by the key players2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes the markets3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, and manufacturing capabilities of the leading players5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and new product developmentsThe report answers questions such as:1. What is the market size and forecast of the Global Soft Tissue Allograft Market?2. What are the inhibiting factors and impact of COVID-19 shaping the Global Soft Tissue Allograft Market during the forecast period?3. Which are the products/segments/applications/areas to invest in over the forecast period in the Global Soft Tissue Allograft Market?4. What is the competitive strategic window for opportunities in the Global Soft Tissue Allograft Market?5. What are the technology trends and regulatory frameworks in the Global Soft Tissue Allograft Market?6. What are the modes and strategic moves considered suitable for entering the Global Soft Tissue Allograft Market?Read the full report: https://www.reportlinker.com/p05911563/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________ CONTACT: Clare: email@example.com US: (339)-368-6001 Intl: +1 339-368-6001
Ohioans on Tuesday began registering for the Vax-a-Million lottery and a chance to claim $1 million cash prizes. Here are the latest COVID-19 updates.
Stock futures rose Tuesday morning, with the indexes looking to recoup losses from Monday's session. Technology stocks outperformed in the early session, reversing course after lagging a day earlier.
Dublin, May 18, 2021 (GLOBE NEWSWIRE) -- The "Business Survey 1Q 2021: the Impact of Covid-19 on Collaboration and Cloud Telephony for Large Enterprises" report has been added to ResearchAndMarkets.com's offering. The analyst surveyed 435 enterprises with 250-999 employees (large enterprises) in Australia, Canada, the UK and the USA between December 2020 and February 2021 to assess how they have adapted since the beginning of the COVID-19 pandemic and what changes they expect to make in the future. This report focuses on findings from the questions asked about collaboration solutions and cloud telephony. This report provides: information about changes in large enterprises' use of, and demand for, collaboration and cloud telephony solutions, by vertical sectordata on large enterprises' planned spending on collaboration tools and cloud telephony in 2021 (compared to that in 2020), by vertical sectora comparison of large enterprises' take-up of collaboration solutions with that of cloud telephony. Sample 250-499 employees: 2111500-999 employees: 224Vertical sectors: Agriculture, mining, transportation, utilities and construction (AMTUC)ManufacturingIT and telecomsWholesale/retailFinance, insurance and real estate (FIRE)Professional business servicesOther services Countries Covered AustraliaCanadaUKUSA For more information about this report visit https://www.researchandmarkets.com/r/syimqb CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager firstname.lastname@example.org For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
BEIJING, May 18, 2021 (GLOBE NEWSWIRE) -- Kingsoft Cloud Holdings Limited (“Kingsoft Cloud” or the “Company”) (NASDAQ: KC), a leading independent cloud service provider in China, today announced its unaudited financial results for the first quarter ended March 31, 2021. First Quarter 2021 Financial Highlights Total revenues were RMB1,813.5 million (US$1276.8 million) in the first quarter of 2021, compared with RMB1,391.0 million in the first quarter of 2020. Having been increasing for five consecutive quarters, revenues from public cloud services were RMB1,391.8 million (US$212.4 million), compared with RMB1,208.5 million in the same period of 2020. Revenues from enterprise cloud services were RMB420.0 million (US$64.1 million), representing an increase of 131.3% from RMB181.6 million in the same period of 2020.Gross profit increased by 64.5% to RMB116.5 million (US$17.8 million) from RMB70.8 million in the same period of 2020. Gross margin was 6.4%, increased from 5.1% in the same period of 2020.Non-GAAP gross profit2, increased by 64.4% to RMB122.0 million (US$18.6 million) from RMB74.2 million in the same period of 2020. Non-GAAP gross margin was 6.7%, increased from 5.3% non-GAAP gross margin in the same period of 2020. Mr. Yulin Wang, Chief Executive Officer of Kingsoft Cloud, commented, “In this quarter, we generated RMB1.81 billion in total revenues, among which public cloud and enterprise cloud accounted for RMB1.39 billion and RMB420.0 million, respectively. In addition to successfully executing our strategy of serving premium customers, we continued to improve our large-scale, highly stable and high-performance enterprise-level products and solutions that cater to growing demand across verticals including the internet, healthcare, financial services and public services sectors. In April, we published both our first annual report and our first Environmental, Social and Governance (ESG) Report post our IPO. Even though it is not a mandatory disclosure requirement in the US, we took the initiatives to disclose our ESG progress in less than a year after we went public. This speaks to our commitment to integrate ESG practices into our day-to-day business operations, and to constantly improve the management of our business.” ___________________ 1 This announcement contains translations of certain Renminbi (RMB) amounts into U.S. dollars (US$) at a specified rate solely for the convenience of the reader. Unless otherwise noted, the translation of RMB into US$ has been made at RMB6.5518 to US$1.00, the noon buying rate in effect on March 31, 2021 as certified for customs purposes by the Federal Reserve Bank of New York.2 Non-GAAP gross profit is defined as gross profit excluding share-based compensation allocated in the cost of revenues and we define Non-GAAP gross margin as Non-GAAP gross profit as a percentage of revenues. See “Reconciliation of GAAP and Non-GAAP results” set forth at the end of this press release. Mr. Henry He, Chief Financial Officer of Kingsoft Cloud added that, “We are pleased to see that our products and solutions continued to gain tractions among our customers. Our total revenues were RMB1.81 billion this quarter. Among that, revenues from public cloud services were RMB1.39 billion. Due to our high quality services and robust relations with our premium customers, revenues from public cloud services have been increasing for five consecutive quarters. Our enterprise cloud services revenues were RMB420.0 million, representing an increase of 131.3% year-over-year. We achieved record high quarterly adjusted gross profit of RMB122.0 million in first quarter. Our adjusted gross margin for this quarter increased from 4.9% last quarter to 6.7% this quarter. For the second quarter of 2021, we expect our total revenues to be between RMB2.13 billion and RMB2.23 billion, representing an accelerated year-over-year growth of 39% to 45%.” First quarter 2021 Financial Results Total Revenues reached RMB1,813.5 million (US$276.8 million), compared with RMB1,391.0 million in the same period of 2020. The increases were primarily due to the growth in both public cloud services and enterprise cloud services for our premium customers. Revenues from public cloud services were RMB1,391.8 million (US$212.4 million), compared with RMB1,208.5 million in the same period of 2020. Revenues from public cloud services have been increasing for five consecutive quarters.Revenues from enterprise cloud services were RMB420.0 million (US$64.1 million), representing an increase of 131.3% from RMB181.6 million in the same period of 2020.Other revenues were RMB1.7 million (US$0.3 million). Cost of revenues was RMB1,697.0 million (US$259.0 million), representing an increase of 28.5% from RMB1,320.2 million in the same period of 2020, primarily attributable to increase in IDC costs and other costs. IDC costs increased by 21.0% to RMB1,113.2 million (US$169.9 million) from RMB920.2 million in the same period of 2020. The increase in IDC costs was in line with the Company’s expanding business and was partially offset by improved efficiency and utilization of bandwidth. Depreciation and amortization costs was RMB174.8 million (US$26.7 million), compared with RMB204.8 million in the same period of 2020. Gross profit increased by 64.5% to RMB116.5 million (US$17.8 million), from RMB70.8 million in the same period in 2020. Gross margin was 6.4%, compared with 5.1% in the same period in 2020. Non-GAAP gross profit increased by 64.4% to RMB122.0 million (US$18.6 million), from RMB74.2 million in the same period in 2020. Non-GAAP gross margin was 6.7%, compared with 5.3% in the same period in 2020. The increase was primarily due to our continued leverage on economies of scale, as well as the increasing margin contribution from enterprise cloud. Selling and marketing expenses were RMB112.8 million (US$17.2 million), representing an increase of 28.2% from RMB88.0 million in the same period in 2020, mainly due to an increase in share-based compensation expenses and social insurance fees. General and administrative expenses were RMB91.2 million (US$13.9 million), an increase of 20.0% from RMB76.0 million in the same period in 2020, mainly due to the increase in share-based compensation expenses, as well as the expenses for legal, accounting and other administrative and compliance affairs. Research and development expenses were RMB264.6 million (US$40.4 million), an increase of 35.2% from RMB195.7 million in the same period in 2020, primarily due to the increase in share-based compensation expenses, salaries and social insurance fees. Operating loss was RMB352.1 million (US$53.7 million), compared with RMB288.8 million in the same quarter of 2020. Net loss was RMB382.2 million (US$58.3 million), compared with RMB331.6 million in the same quarter of 2020. Non-GAAP net loss was RMB218.4 million (US$33.3 million), compared with RMB243.4 million in the same quarter of 2020. Non-GAAP EBITDA was RMB-48.6 million (US$-7.4 million), compared with RMB-39.4 million in the same quarter of 2020. The decrease of Non-GAAP EBITDA was due to the increase of personnel expenses in terms of social insurance fees. Non-GAAP EBITDA margin was -2.7%, compared to -2.8% in the same quarter of 2020. Basic and diluted net loss per share was RMB0.11 (US$0.02), compared with RMB0.39 in the same quarter of 2020. Cash and cash equivalents and short-term investments were RMB5,455.8 million (US$832.7 million) as of March 31, 2021, compared to RMB6,117.7 million as of December 31, 2020. Outstanding ordinary shares were 3,349,864,308 as of March 31, 2021, equivalent to about 223,324,287 ADSs Business Outlook For the second quarter of 2021, the Company expects total revenues to be between RMB2.13 billion and RMB2.23 billion, representing an accelerated year-over-year growth of 39% to 45%. This forecast reflects the Company’s current and preliminary views on the market and operational conditions, which are subject to change. Conference Call Information The Company will hold a conference call on Tuesday, May 18, 2021, at 8:00 A.M. Eastern Time (8:00 P.M. Beijing/Hong Kong Time on the same day) to discuss the financial results. Participants can register for the conference call by navigating to http://apac.directeventreg.com/registration/event/7573216. Once preregistration has been completed, participants will receive dial-in numbers, direct event passcode, and a unique registrant ID. To join the conference, simply dial the number in the calendar invite you receive after preregistering, enter the passcode followed by your registrant ID, and you will join the conference instantly. A telephone replay of the call will be available after the conclusion of the conference call through 9:00 a.m. U.S. Eastern Time, May 26, 2021. The dial-in details for the replay are as follows: International: +61-2-8199-0299U.S. Toll Free: +1-855-452-5696Mainland China Toll Free: 800-870-0206Hong Kong Toll Free: 800-963-117Conference ID: 7573216 A live and archived webcast of the conference call will also be available at the Company’s investor relations website at http://ir.ksyun.com/. Use of Non-GAAP Financial Measures The unaudited condensed consolidated financial information is prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). In evaluating our business, we consider and use certain non-GAAP measures, Non-GAAP gross (loss) profit, Non-GAAP gross margin, Non-GAAP EBITDA and Non-GAAP EBITDA margin, as supplemental measures to review and assess our operating performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. We define Non-GAAP gross (loss) profit as gross (loss) profit excluding share- based compensation allocated in the cost of revenues, and we define Non-GAAP gross margin as Non-GAAP gross (loss) profit as a percentage of revenues. We define Non-GAAP net loss as net loss excluding share-based compensation, foreign exchange (gain) loss, changes in fair value of financial instruments and other (income) expense, net. We define Non-GAAP EBITDA as Non-GAAP net loss excluding interest income, interest expense, income tax expense and depreciation and amortization, and we define Non-GAAP EBITDA margin as Non-GAAP EBITDA as a percentage of revenues. We present these non-GAAP financial measures because they are used by our management to evaluate our operating performance and formulate business plans. We also believe that the use of these non-GAAP measures facilitates investors’ assessment of our operating performance. These non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. These non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using these non-GAAP financial measures is that they do not reflect all items of income and expense that affect our operations. Further, these non-GAAP measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited. We compensate for these limitations by reconciling these non-GAAP financial measures to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating our performance. We encourage you to review our financial information in its entirety and not rely on a single financial measure. Exchange Rate Information This press release contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of readers. Unless otherwise noted, all translations from RMB to U.S. dollars, in this press release, were made at a rate of RMB6.5518 to US$1.00, the noon buying rate in effect on March 31, 2021 as certified for customs purposes by the Federal Reserve Bank of New York. Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of 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. Among other things, the Business Outlook, and quotations from management in this announcement, as well as Kingsoft Cloud’s strategic and operational plans, contain forward-looking statements. Kingsoft Cloud may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to fourth parties. Statements that are not historical facts, including but not limited to statements about Kingsoft Cloud’s beliefs and expectations, are forward-looking statements. Forward- looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Kingsoft Cloud’s goals and strategies; Kingsoft Cloud’s future business development, results of operations and financial condition; relevant government policies and regulations relating to Kingsoft Cloud’s business and industry; the expected growth of the cloud service market in China; the expectation regarding the rate at which to gain customers, especially Premium Customers; Kingsoft Cloud’s ability to monetize the customer base; fluctuations in general economic and business conditions in China; the impact of the COVID-19 to Kingsoft Cloud’s business operations and the economy in China and elsewhere generally; China’s political or social conditions and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Kingsoft Cloud’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Kingsoft Cloud does not undertake any obligation to update any forward-looking statement, except as required under applicable law. About Kingsoft Cloud Holdings Limited Kingsoft Cloud Holdings Limited (NASDAQ: KC) is a leading independent cloud service provider in China. Kingsoft Cloud has built a comprehensive and reliable cloud platform consisting of extensive cloud infrastructure, cutting-edge cloud products and well-architected industry-specific solutions across public cloud and enterprise cloud. For more information, please visit: http://ir.ksyun.com. For investor and media inquiries, please contact: Kingsoft Cloud Holdings Limited Nicole ShanTel: +86 (10) 6292-7777 Ext. 6300Email: email@example.com Christensen In ChinaMr. Eric YuanPhone: +86-10-5900-1548E-mail: Eyuan@christensenir.com In USMs. Linda Bergkamp Phone: +1-480-614-3004E-mail: firstname.lastname@example.org KINGSOFT CLOUD HOLDINGS LIMITEDUNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS(All amounts in thousands) Dec 31,2020Mar 31,2021Mar 31,2021 RMBRMBUS$ASSETS Current assets: Cash and cash equivalents3,424,674 2,793,448 426,363 Accounts receivable, net2,334,871 2,760,187 421,287 Short-term investments2,693,019 2,662,318 406,349 Prepayments and other assets887,086 982,607 149,975 Amounts due from related parties205,068 193,240 29,494 Total current assets9,544,718 9,391,800 1,433,468 Non-current assets: Property and equipment, net1,956,790 1,945,060 296,874 Intangible assets, net16,573 14,085 2,150 Prepayments and other assets11,824 17,113 2,612 Equity investments126,583 132,538 20,229 Goodwill- 74,577 11,383 Amounts due from related parties5,758 5,758 879 Operating lease right-of-use assets266,968 279,142 42,605 Total non-current assets2,384,496 2,468,273 376,732 Total assets11,929,214 11,860,073 1,810,200 LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable2,057,355 2,302,376 351,411 Accrued expenses and other liabilities845,374 592,828 90,483 Short-term bank loans278,488 377,788 57,662 Long-term bank loan, current portion74,351 74,351 11,348 Income tax payable20,564 23,820 3,636 Amounts due to related parties112,998 116,345 17,758 Current operating lease liabilities76,469 83,469 12,740 Total current liabilities3,465,599 3,570,977 545,038 Non-current liabilities: Deferred tax liabilities29 - - Other liabilities40,578 36,630 5,591 Non-current operating lease liabilities182,958 200,928 30,668 Total non-current liabilities223,565 237,558 36,259 Total liabilities3,689,164 3,808,535 581,297 Shareholders’ equity: Ordinary shares22,801 22,868 3,490 Additional paid-in capital14,149,984 14,277,201 2,179,126 Accumulated deficit(5,864,356)(6,252,504)(954,319)Accumulated other comprehensive (loss) income(68,440)2,333 356 Total Kingsoft Cloud Holdings Limited shareholders’ equity8,239,989 8,049,898 1,228,653 Noncontrolling interests61 1,640 250 Total equity8,240,050 8,051,538 1,228,903 Total liabilities, mezzanine equity and shareholders’ equity11,929,214 11,860,073 1,810,200 KINGSOFT CLOUD HOLDINGS LIMITEDUNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS(All amounts in thousands, except for share and per share data) Three Months Ended Mar 31,2020Dec 31,2020Mar 31,2021Mar 31,2021 RMBRMBRMBUS$Revenues: Public cloud services1,208,514 1,361,505 1,391,833 212,435 Enterprise cloud services181,587 535,920 420,032 64,109 Others862 25,321 1,667 254 Total revenues1,390,963 1,922,746 1,813,532 276,798 Cost of revenues(1,320,192)(1,830,176)(1,697,029)(259,017)Gross profit 70,771 92,570 116,503 17,781 Operating expenses: Selling and marketing expenses(87,968)(114,666)(112,826)(17,221)General and administrative expenses(75,977)(42,156)(91,177)(13,916)Research and development expenses(195,650)(181,062)(264,636)(40,391)Total operating expenses(359,595)(337,884)(468,639)(71,528)Operating loss(288,824)(245,314)(352,136)(53,747)Interest income10,095 21,672 17,746 2,709 Interest expense(1,884)(1,838)(3,866)(590)Foreign exchange (loss) gain(40,144)114,113 (48,375)(7,383)Changes in fair value of financial instruments198 11,278 5,782 883 Other (expense) income, net(5,259)(1,724)1,926 294 Loss before income taxes(325,818)(101,813)(378,923)(57,834)Income tax expense(5,829)(3,345)(3,286)(502)Net loss(331,647)(105,158)(382,209)(58,336)Less: net (loss) income attributable to noncontrolling interests(306)54 255 39 Net loss attributable to Kingsoft Cloud Holdings Limited(331,341)(105,212)(382,464)(58,375)Accretion to redemption value of redeemable convertible preferred shares(19,768)- - - Net loss attributable to ordinary shareholders(351,109)(105,212)(382,464)(58,375) Net loss per share: Basic and diluted(0.39)(0.03)(0.11)(0.02)Shares used in the net loss per share computation: Basic and diluted898,305,836 3,299,623,515 3,343,336,997 3,343,336,997 Other comprehensive income (loss), net of tax of nil: Foreign currency translation adjustments51,349 (327,654)70,773 10,802 Comprehensive loss(280,298)(432,812)(311,436)(47,534)Less: Comprehensive (loss) income attributable to noncontrolling interests(306)54 255 39 Comprehensive loss attributable to Kingsoft Cloud Holdings Limited shareholders(279,992)(432,866)(311,691)(47,573)Accretion to redemption value of redeemable convertible preferred shares(19,768)- - - Comprehensive loss attributable to ordinary shareholders(299,760)(432,866)(311,691)(47,573) KINGSOFT CLOUD HOLDINGS LIMITEDRECONCILIATION OF GAAP AND NON-GAAP RESULTS(All amounts in thousands, except for percentage) Three Months Ended Mar 31,2020Dec 31,2020Mar 31,2021Mar 31,2021 RMBRMBRMBUS$Gross profit70,77192,570116,50317,781Adjustments: – Share-based compensation expenses3,4262,3215,499839Adjusted gross profit74,19794,891122,00218,620 KINGSOFT CLOUD HOLDINGS LIMITEDRECONCILIATION OF GAAP AND NON-GAAP RESULTS(All amounts in thousands, except for percentage) Three Months Ended Mar 31,2020Dec 31,2020Mar 31,2021Gross margin5.1%4.8%6.4%Adjusted gross margin5.3%4.9%6.7% KINGSOFT CLOUD HOLDINGS LIMITEDRECONCILIATION OF GAAP AND NON-GAAP RESULTS(All amounts in thousands, except for percentage) Three Months Ended Mar 31,2020Dec 31,2020Mar 31,2021Mar 31,2021 RMBRMBRMBUS$Net Loss(331,647)(105,158)(382,209)(58,336)Adjustments: – Share-based compensation expenses43,084 54,543 123,113 18,790 – Foreign exchange loss (gain)40,144 (114,113)48,375 7,383 – Changes in fair value of financial instruments(198)(11,278)(5,782)(883)– Other expense (income), net5,259 1,724 (1,926)(294)Adjusted net loss(243,358)(174,282)(218,429)(33,340)Adjustments: – Interest income(10,095)(21,672)(17,746)(2,709)– Interest expense1,884 1,838 3,866 590 – Income tax expense5,829 3,345 3,286 502 – Depreciation and amortization206,362 173,250 180,466 27,544 Adjusted EBITDA(39,378)(17,521)(48,557)(7,413) KINGSOFT CLOUD HOLDINGS LIMITEDRECONCILIATION OF GAAP AND NON-GAAP RESULTS(All amounts in thousands, except for percentage) Three Months Ended Mar 31,2020Dec 31,2020Mar 31,2021Net loss margin-23.8%-5.5%-21.1%Adjusted net loss margin-17.5%-9.1%-12.0%Adjusted EBITDA Margin-2.8%-0.9%-2.7% KINGSOFT CLOUD HOLDINGS LIMITEDUNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS(All amounts in thousands) Three Months Ended Mar 31,2020Dec 31,2020Mar 31,2021Mar 31,2021 RMBRMBRMBUS$Net cash generated from (used in) operating activities93,887 (278,242)(497,151)(75,880)Net cash used in investing activities(294,953)(308,729)(238,180)(36,353)Net cash generated from financing activities138,900 208,211 98,854 15,088 Effect of exchange rate changes on cash and cash equivalents8,775 (63,069)5,251 801 Net decrease in cash and cash equivalents(62,166)(378,760)(636,477)(97,145)Cash and cash equivalents at beginning of period2,023,263 3,866,503 3,424,674 522,707 Cash and cash equivalents at end of period1,969,872 3,424,674 2,793,448 426,363
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