VNET Group, Inc.VNETEarnings & Financial Report
VNET Group, Inc. is a leading neutral internet data center service provider operating primarily in China. It offers cloud computing infrastructure, colocation services, managed network solutions, and hybrid cloud support to enterprise clients across technology, finance, and retail sectors, enabling stable, high-performance digital operation foundations for domestic and global businesses expanding in the Chinese market.
Revenue
$262.9M
Gross Profit
$56.9M
Operating Profit
$547.0K
Net Profit
$-22.0M
Gross Margin
21.6%
Operating Margin
0.2%
Net Margin
-8.4%
YoY Growth
N/A
VNET Group, Inc. Q1 FY2024 Financial Summary
VNET Group, Inc. reported revenue of $262.9M for Q1 FY2024, with a net profit of $-22.0M (-8.4% margin). Cost of goods sold was $206.0M, operating expenses totaled $56.3M.
Key Financial Metrics
| Total Revenue | $262.9M |
|---|---|
| Net Profit | $-22.0M |
| Gross Margin | 21.6% |
| Operating Margin | 0.2% |
| Report Period | Q1 FY2024 |
VNET Group, Inc. Quarterly Revenue & Net Profit History
VNET Group, Inc. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q3 FY2025 | $362.7M | — | $-38.7M | -10.7% |
| Q1 FY2025 | $309.5M | — | $-2.4M | -0.8% |
| Q3 FY2024 | $302.2M | — | $-2.1M | -0.7% |
| Q2 FY2024 | $274.4M | — | $-1.1M | -0.4% |
| Q1 FY2024 | $262.9M | — | $-22.0M | -8.4% |
| Q3 FY2023 | $258.6M | — | $-5.5M | -2.1% |
| Q2 FY2023 | $251.2M | — | N/A | N/A |
| Q1 FY2023 | $262.9M | — | $15.1M | 5.7% |
Income Statement
| Q1 2023 | Q2 2023 | Q3 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q1 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $262.9M | $251.2M | $258.6M | $262.9M | $274.4M | $302.2M | $309.5M | $362.7M |
| YoY Growth | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Balance Sheet
| Q1 2023 | Q2 2023 | Q3 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q1 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $4.17B | $3.97B | $4.10B | $3.90B | $4.01B | $4.26B | $5.35B | $6.09B |
| Liabilities | $3.13B | $3.02B | $3.16B | $3.00B | $3.11B | $3.29B | $4.42B | $5.20B |
| Equity | $1.05B | $952.6M | $942.7M | $895.1M | $900.6M | $902.9M | $927.8M | $890.8M |
Cash Flow
| Q1 2023 | Q2 2023 | Q3 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q1 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $66.3M | $58.4M | $62.3M | $37.1M | $55.8M | $108.3M | $27.0M | $113.8M |