GDS Holdings reports 12% revenue growth, narrows losses

GDS Holdings reported net revenue of RMB2,900.3 million for Q2 2025, up 12.4% year-over-year. Net loss narrowed dramatically to RMB70.6 million from RMB231.8 million in Q2 2024.

Adjusted EBITDA grew 11.2% to RMB1,371.8 million. Total committed area reached 663,959 square meters, up 8.1%, while utilized area increased 14.1% to 479,186 square meters.

The company raised approximately $676.5 million through new convertible notes and equity during the quarter.