SINGAPORE, April 26,
2023 /PRNewswire/ -- 51Talk Online Education Group
("51Talk" or the "Company") (NYSE: COE), a global online education
platform with core expertise in English education, announced its
unaudited results for the first quarter ended March 31, 2023.
First Quarter 2023 Financial and Operating Highlights
- Net revenues were US$5.6 million,
a 195.6% increase from US$1.9 million
for the first quarter of 2022.
- Gross margin was 77.6%, compared with 77.9% for the first
quarter of 2022.
- GAAP net loss was US$2.4 million,
compared with GAAP net loss of US$3.4
million from continuing operations[1] for the
first quarter of 2022.
- Non-GAAP net loss[2] was US$2.2 million, compared with non-GAAP net loss
of US$3.1 million from continuing
operations for the first quarter of 2022.
- Cash, cash equivalents and time deposits balance stood at
US$23.7 million as of March 31, 2023.
- Operating cash inflow was US$0.6
million for the first quarter of 2023.
- Gross billings[3] for the first quarter of 2023 were
US$8.1 million.
[1]
"Continuing operations" refers to the Company's remaining
international business after the divestiture of its China mainland
business.
|
[2] For more
information on non-GAAP financial measures, please see the section
of "Use of Non-GAAP Financial Measures" and the table captioned
"Reconciliation of Non-GAAP Measures to the Most Comparable GAAP
Measures" set forth in this press release.
|
[3] Gross
billings for a specific period, which is one of the Company's key
operating data, is defined as the total amount of cash received and
receivable from third party payment platforms for the sale of
course packages and services in such period, net of the total
amount of refunds in such period. The gross billings data included
herein was from the Company's business system and converted with
quarterly corresponding exchange rate, which may lead to
differences with bank records.
|
Key Financial and
Operating Data
|
For the three months
ended
|
|
|
|
March.
31,
|
|
March.
31,
|
|
Y-o-Y
|
|
2022[4]
|
|
2023
|
|
Change
|
|
|
|
|
|
|
Net Revenues
(in US$ millions)
|
1.9
|
|
5.6
|
|
195.6 %
|
Gross
Margin
|
77.9 %
|
|
77.6 %
|
|
-0.3 %
|
Gross Billings
(in US$ millions)
|
5.3
|
|
8.1
|
|
52.5 %
|
|
|
|
|
|
|
Active students with
attended lesson consumption[5]
(in thousands)
|
9.3
|
|
25.2
|
|
171.0 %
|
|
|
|
|
|
|
"We have seen growth momentum picking up sequentially in the
first quarter as more markets have started to produce returns
following our investments last and early this year. Our guidance
for the second quarter reflects our continued confidence in
our growth trajectory." said Mr. Jack
Jiajia Huang, Founder, Chairman and Chief Executive Officer
of 51Talk.
"In fact, as we continue to deepen our understanding of the
international markets, we are growing increasingly confident that
our products can meet the needs of students and parents in many
geographies. We apply a multi-step approach to fully unlock the
potential of each market and have seen encouraging signs that some
early-stage markets have been developing at a faster pace than
the existing markets when they were at a similar stage.
During this quarter, we continued to intensify our localization
efforts, especially in products, sales, marketing, and support
functions. Specifically, we have plans for more online and offline
branding activities throughout 2023. We have been able to achieve
this progress while maintaining positive operating cash flow during
this quarter." Mr. Huang concluded.
[4] For
purposes of comparison, the financial and operating data of
continuing operations for the first quarter of 2022 are presented
in this column
|
[5] An
"active student with attended lesson consumption" for a specified
period refers to a student who attended at least one paid lesson,
excluding those students who only attended paid live broadcasting
lessons or trial lessons.
|
First Quarter 2023 Financial Results
Net Revenues and Gross Margin
Net revenues for the first quarter of 2023 were US$5.6 million, a 195.6% increase from
US$1.9 million for the same quarter
last year. The number of active students with attended lesson
consumption was approximately 25,200 in the first quarter of 2023,
a 171.0% increase from 9,300 for the same quarter last
year.
Cost of revenues for the first quarter of 2023 was US$1.2 million, a 199.3% increase from
US$0.4 million for the same quarter
last year. The increase was primarily due to the increase in total
service fees paid to teachers, mainly resulting from an
increased number of paid lessons.
Gross profit for the first quarter of 2023 was US$4.3 million, a 194.6% increase from
US$1.5 million for the same quarter
last year.
Gross margin for the first quarter of 2023 was 77.6%, compared
with 77.9% for the same quarter last year.
Operating Expenses
Total operating expenses for the first quarter of 2023 were
US$6.7 million, a 33.8% increase
from US$5.0 million for the same
quarter last year. The increase was mainly due to the increase in
sales and marketing expenses.
Sales and marketing expenses for the first quarter of 2023 were
US$4.3 million, a 117.0%
increase from US$2.0 million for
the same quarter last year. The increase was mainly due
to higher sales personnel costs related to increases in the number
of sales and marketing personnel and higher marketing expenses.
Excluding share-based compensation expenses, non-GAAP sales and
marketing expenses for the first quarter of 2023 were
US$4.3 million, a 113.7%
increase from US$2.0 million for the
same quarter last year.
Product development expenses for the first quarter of 2023 were
US$0.4 million, a 64.6% decrease from
US$1.1 million for the same
quarter last year. The decrease was primarily due to lower product
development personnel costs. Excluding share-based compensation
expenses, non-GAAP product development expenses for the first
quarter of 2023 were US$0.3 million,
a 68.4% decrease from US$1.1 million for the same quarter last
year.
General and administrative expenses for the first quarter of
2023 were US$2.0 million, a 3.4%
increase from US$1.9 million for
the same quarter last year. The increase was primarily due
to higher general and administrative personnel costs.
Excluding share-based compensation expenses, non-GAAP general and
administrative expenses for the first quarter of 2023 were
US$1.8 million, a 14.9% increase
from US$1.6 million for the same
quarter last year.
Loss from Operations
Operating loss for the first quarter of 2023 was US$2.4 million, compared with operating loss of
US$3.5 million for the same quarter
last year.
Non-GAAP operating loss for the first quarter of 2023 was
US$2.1 million, compared with
non-GAAP operating loss of US$3.2
million for the same quarter last year.
Net Loss
Net loss for the first quarter of 2023 was US$2.4 million, compared with net loss of
US$3.4 million from continuing
operations for the same quarter last year.
Excluding share-based compensation expenses of US$0.2 million, non-GAAP net loss for the first
quarter of 2023 was US$2.2
million, compared with non-GAAP net loss of
US$3.1 million from continuing
operations for the same quarter last year.
Basic and diluted net loss per share attributable to
ordinary shareholders for the first quarter of 2023 was
US$0.01, compared with basic and
diluted net loss per share of US$0.06 for the same quarter last year.
Excluding share-based compensation expenses of US$0.2 million, non-GAAP basic and diluted net
loss per share attributable to ordinary shareholders for the
first quarter of 2023 was US$0.01,
compared with non-GAAP basic net loss per share attributable
to ordinary shareholders of US$0.06 for the same quarter last year.
Basic and diluted net loss per American depositary share ("ADS")
attributable to ordinary shareholders for the first quarter of 2023
was US$0.43, compared with basic and
diluted net loss per ADS of US$3.80
for the same quarter last year. Each ADS represents 60 Class A
ordinary shares.
Excluding share-based compensation expenses of US$0.2 million, non-GAAP basic and diluted net
loss per ADS attributable to ordinary shareholders for the first
quarter of 2023 was US$0.39, compared
with non-GAAP basic net loss per ADS attributable to ordinary
shareholders of US$3.74 for the
same quarter last year.
Balance Sheet
As of March 31, 2023, the Company
had total cash, cash equivalents and time deposits of US$23.7 million, compared with US$23.1 million as of December 31, 2022.
The Company had advances from students[6] of
US$17.7 million as of March 31, 2023, compared with US$15.2 million as of December 31, 2022.
The financial statements for the first quarter ended
March 31, 2023 herein have not been
audited or reviewed by the Company's independent registered
accounting firm.
[6]
"Advances from students" is defined as the amount of obligation to
transfer goods or service to students or business partners for
which consideration has been received from students in advance. The
deposits from students are also presented in the total amount of
"advances from students"
|
Outlook
For the second quarter of 2023, the Company currently expects
net gross billings to be between $8.8
million and $9.5 million,
which would represent a sequential growth of 9.1% to
17.7%.
The foregoing outlook is based on current market conditions and
reflects the Company's current and preliminary estimates of market
and operating conditions and customer demand, which are all subject
to change.
About 51Talk Online Education Group
51Talk Online Education Group (NYSE: COE) is a global
online education platform with core expertise in English education.
The Company's mission is to make quality education accessible and
affordable. The Company's online and mobile education platforms
enable students to take live interactive English lessons, on
demand. The Company connects its students with a large pool of
highly qualified teachers that it assembled using a shared economy
approach, and employs student and teacher feedback and data
analytics to deliver a personalized learning experience to its
students.
Use of Non-GAAP Financial Measures
In evaluating its business, 51Talk considers and uses the
following measures defined as non-GAAP financial measures by the
SEC as supplemental metrics to review and assess its operating
performance: non-GAAP sales and marketing expenses, non-GAAP
product development expenses, non-GAAP general and administrative
expenses, non-GAAP operating expenses, non-GAAP operating
income/(loss), non-GAAP net income/(loss), non-GAAP net
income/(loss) attributable to ordinary shareholders, and non-GAAP
net income/(loss) attributable to ordinary shareholders per share
and per ADS. To present each of these non-GAAP measures, the
Company excludes share-based compensation expenses. 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 GAAP. For
more information on these non-GAAP financial measures, please see
the table captioned "Reconciliations of non-GAAP measures to the
most comparable GAAP measures" set forth at the end of this press
release.
51Talk believes that these non-GAAP financial measures provide
meaningful supplemental information regarding its performance by
excluding share-based compensation expenses that may not be
indicative of its operating performance from a cash perspective.
51Talk believes that both management and investors benefit from
these non-GAAP financial measures in assessing its performance and
when planning and forecasting future periods. These non-GAAP
financial measures also facilitate management's internal
comparisons to 51Talk's historical performance. 51Talk computes its
non-GAAP financial measures using the same consistent method from
quarter to quarter and from period to period. 51Talk believes these
non-GAAP financial measures are useful to investors in allowing for
greater transparency with respect to supplemental information used
by management in its financial and operational decision-making. A
limitation of using non-GAAP measures is that these non-GAAP
measures exclude share-based compensation expenses that have been
and will continue to be for the foreseeable future a significant
recurring expense in the 51Talk's business. Management compensates
for these limitations by providing specific information regarding
the GAAP amounts excluded from each non-GAAP measure. The
accompanying table at the end of this press release provides more
details on the reconciliations between GAAP financial measures that
are most directly comparable to non-GAAP financial measures.
Safe Harbor Statement
This press release contains statements that may constitute
"forward-looking" statements pursuant to 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", "aims",
"future", "intends", "plans", "believes", "estimates", "likely to"
and similar statements. Among other things, 51Talk's quotations
from management in this announcement, as well as 51Talk's strategic
and operational plans, contain forward-looking statements. 51Talk
may also make written or oral forward-looking statements in its
periodic reports to the 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 third parties. Statements that are not
historical facts, including statements about 51Talk'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: 51Talk's goals and strategies; 51Talk's
expectations regarding demand for and market acceptance of its
brand and platform; 51Talk's ability to retain and increase its
student enrollment; 51Talk's ability to offer new courses; 51Talk's
ability to engage, train and retain new teachers; 51Talk's future
business development, results of operations and financial
condition; 51Talk's ability to maintain and improve infrastructure
necessary to operate its education platform; competition in the
online education industry in its international markets; the
expected growth of, and trends in, the markets for 51Talk's course
offerings in its international markets; relevant government
policies and regulations relating to 51Talk's corporate structure,
business and industry; general economic and business condition in
the Philippines, its international
markets and elsewhere; and assumptions underlying or related to any
of the foregoing. Further information regarding these and other
risks is included in 51Talk's filings with the SEC. All information
provided in this press release is as of the date of this press
release, and 51Talk does not undertake any obligation to update any
forward-looking statement, except as required under applicable
law.
|
|
51TALK ONLINE
EDUCATION GROUP
|
|
|
UNAUDITED CONDENSED
CONSOLIDATED BALANCE SHEETS
|
|
|
(In
thousands)
|
|
|
|
|
|
|
|
|
As
of
|
|
|
|
|
Dec.
31,
|
|
Mar.
31,
|
|
|
|
|
|
2022
|
|
2023
|
|
|
|
|
|
US$
|
|
US$
|
|
|
|
|
|
|
|
|
|
ASSETS
|
|
|
|
|
|
|
Current
assets
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
18,186
|
|
18,804
|
|
|
|
Time
deposits
|
|
4,872
|
|
4,910
|
|
|
|
Prepaid expenses and
other current
assets
|
|
3,509
|
|
3,289
|
|
|
Total current
assets
|
|
26,567
|
|
27,003
|
|
|
|
|
|
|
|
|
|
|
Non-current
assets
|
|
|
|
|
|
|
|
Property and equipment,
net
|
|
25
|
|
28
|
|
|
|
Intangible assets,
net
|
|
104
|
|
26
|
|
|
|
Right-of-use
assets
|
|
769
|
|
677
|
|
|
|
Other non-current
assets
|
|
169
|
|
220
|
|
|
Total non-current
assets
|
|
1,067
|
|
951
|
|
|
|
|
|
|
|
|
|
|
Total
assets
|
|
27,634
|
|
27,954
|
|
|
|
|
|
|
LIABILITIES AND
SHAREHOLDERS'
EQUITY
|
|
|
|
|
Current
liabilities
|
|
|
|
|
|
|
|
Advances from
students
|
|
15,167
|
|
17,719
|
|
|
|
Accrued expenses and
other current
liabilities
|
|
4,341
|
|
4,031
|
|
|
|
Amounts due to related
parties
|
|
389
|
|
658
|
|
|
|
Lease
liability
|
|
427
|
|
438
|
|
|
|
Taxes
payable
|
|
186
|
|
186
|
|
|
Total current
liabilities
|
|
20,510
|
|
23,032
|
|
|
|
|
|
|
|
|
|
|
Non-current
liabilities
|
|
|
|
|
|
|
|
Lease
liability
|
|
307
|
|
204
|
|
|
|
Other non-current
liabilities
|
|
156
|
|
168
|
|
|
|
Deferred tax
liabilities
|
|
84
|
|
86
|
|
|
Total non-current
liabilities
|
|
547
|
|
458
|
|
|
|
|
|
|
|
|
|
|
Total
liabilities
|
|
21,057
|
|
23,490
|
|
|
|
|
|
|
|
|
|
Total shareholders'
equity
|
|
6,577
|
|
4,464
|
|
|
|
|
|
|
|
|
|
Total liabilities
and shareholders' equity
|
|
27,634
|
|
27,954
|
|
51TALK ONLINE
EDUCATION GROUP
|
|
UNAUDITED INTERIM
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE
LOSS
|
|
(In thousands except
for number of shares and per share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the three months
ended
|
|
|
|
Mar.
31,
|
|
Dec.
31,
|
|
Mar.
31,
|
|
|
|
2022
|
|
2022
|
|
2023
|
|
|
|
US$
|
|
US$
|
|
US$
|
|
Net revenues
|
|
1,878
|
|
5,051
|
|
5,552
|
|
Cost of
revenues
|
|
(415)
|
|
(1,062)
|
|
(1,242)
|
|
Gross profit
|
|
1,463
|
|
3,989
|
|
4,310
|
|
Operating
expenses
|
|
|
|
|
|
|
|
Sales and marketing
expenses
|
|
(1,993)
|
|
(3,985)
|
|
(4,324)
|
|
Product development
expenses
|
|
(1,101)
|
|
(435)
|
|
(390)
|
|
General and
administrative expenses
|
|
(1,885)
|
|
(1,742)
|
|
(1,950)
|
|
Total operating
expenses
|
|
(4,979)
|
|
(6,162)
|
|
(6,664)
|
|
Loss from
operations
|
|
(3,516)
|
|
(2,173)
|
|
(2,354)
|
|
Interest
income
|
|
48
|
|
24
|
|
33
|
|
Other
income/(expenses), net
|
|
43
|
|
147
|
|
(75)
|
|
Loss before income tax
expenses and
discontinued operations
|
|
(3,425)
|
|
(2,002)
|
|
(2,396)
|
|
Income tax
expenses
|
|
(12)
|
|
-
|
|
(9)
|
|
Loss from continuing
operations, net of income
tax
|
|
(3,437)
|
|
(2,002)
|
|
(2,405)
|
|
Loss from discontinued
operations, net of
income tax
|
|
(17,734)
|
|
-
|
|
-
|
|
Net loss, all
attributable to the Company's
ordinary shareholders
|
|
(21,171)
|
|
(2,002)
|
|
(2,405)
|
|
|
|
|
|
|
|
|
|
Weighted average number
of ordinary shares
used in computing basic and diluted loss per
share
|
|
334,056,649
|
|
337,549,708
|
|
339,338,128
|
|
51TALK ONLINE
EDUCATION GROUP
|
|
UNAUDITED CONDENSED
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
|
|
(In thousands except
for number of shares and per share data)
|
|
|
|
|
|
|
For the three months
ended
|
|
|
|
|
|
|
Mar.
31,
|
|
Dec.
31,
|
|
Mar.
31,
|
|
|
|
|
|
|
2022
|
|
2022
|
|
2023
|
|
|
|
|
|
|
US$
|
|
US$
|
|
US$
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss per share
attributable to ordinary shareholders
|
|
|
|
|
|
|
Basic and
diluted
|
|
|
|
(0.06)
|
|
(0.01)
|
|
(0.01)
|
|
Net loss per ADS
attributable to ordinary shareholders
|
|
|
|
|
|
|
Basic and
diluted
|
|
|
|
(3.80)
|
|
(0.36)
|
|
(0.43)
|
|
|
|
|
|
|
|
|
|
|
|
Share-based
compensation expenses are included in the operating expenses as
follows:
|
|
|
|
|
|
|
|
|
|
|
|
Sales and marketing
expenses
|
|
|
|
8
|
|
(30)
|
|
(48)
|
|
Product development
expenses
|
|
|
|
(38)
|
|
(45)
|
|
(54)
|
|
General and
administrative expenses
|
|
|
|
(293)
|
|
(34)
|
|
(120)
|
|
|
51TALK ONLINE
EDUCATION GROUP
|
|
|
Reconciliation of
Non-GAAP Measures to the Most Comparable GAAP
Measures
|
|
|
(In thousands except
for number of shares and per share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the three months
ended
|
|
|
|
|
|
|
Mar.
31,
|
|
Dec.
31,
|
|
Mar.
31,
|
|
|
|
|
|
|
2022
|
|
2022
|
|
2023
|
|
|
|
|
|
|
US$
|
|
US$
|
|
US$
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales and marketing
expenses
|
|
|
|
(1,993)
|
|
(3,985)
|
|
(4,324)
|
|
Less: Share-based
compensation expenses
|
|
|
|
8
|
|
(30)
|
|
(48)
|
|
Non-GAAP sales and
marketing expenses
|
|
|
|
(2,001)
|
|
(3,955)
|
|
(4,276)
|
|
|
|
|
|
|
|
|
|
|
|
|
Product development
expenses
|
|
|
|
(1,101)
|
|
(435)
|
|
(390)
|
|
Less: Share-based
compensation expenses
|
|
|
|
(38)
|
|
(45)
|
|
(54)
|
|
Non-GAAP product
development expenses
|
|
|
|
(1,063)
|
|
(390)
|
|
(336)
|
|
|
|
|
|
|
|
|
|
|
|
|
General and
administrative expenses
|
|
|
|
(1,885)
|
|
(1,742)
|
|
(1,950)
|
|
Less: Share-based
compensation expenses
|
|
|
|
(293)
|
|
(34)
|
|
(120)
|
|
Non-GAAP general and
administrative expenses
|
|
|
|
(1,592)
|
|
(1,708)
|
|
(1,830)
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses
|
|
|
|
(4,979)
|
|
(6,162)
|
|
(6,664)
|
|
Less: Share-based
compensation expenses
|
|
|
|
(323)
|
|
(109)
|
|
(222)
|
|
Non-GAAP operating
expenses
|
|
|
|
(4,656)
|
|
(6,053)
|
|
(6,442)
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss from
operations
|
|
|
|
(3,516)
|
|
(2,173)
|
|
(2,354)
|
|
Less: Share-based
compensation expenses
|
|
|
|
(323)
|
|
(109)
|
|
(222)
|
|
Non-GAAP loss from
operations
|
|
|
|
(3,193)
|
|
(2,064)
|
|
(2,132)
|
|
51TALK ONLINE
EDUCATION GROUP
|
Reconciliation of
Non-GAAP Measures to the Most Comparable GAAP
Measures
|
(In thousands
except for number of shares and per share data)
|
|
|
|
|
|
For the three months
ended
|
|
|
|
|
|
|
Mar.
31,
|
|
Dec.
31,
|
|
Mar.
31,
|
|
|
|
|
|
|
|
2022
|
|
2022
|
|
2023
|
|
|
|
|
|
|
|
US$
|
|
US$
|
|
US$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax
expenses
|
|
|
|
(12)
|
|
-
|
|
(9)
|
|
|
Less: Tax impact of
Share-based compensation expenses
|
|
|
|
-
|
|
-
|
|
-
|
|
|
Non-GAAP income tax
expenses
|
|
|
|
(12)
|
|
-
|
|
(9)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss from continuing
operations, net of income tax
|
|
|
|
(3,437)
|
|
(2,002)
|
|
(2,405)
|
|
|
Less: Share-based
compensation expenses
|
|
|
|
(323)
|
|
(109)
|
|
(222)
|
|
|
Non-GAAP
loss from continuing operations, net of
income tax
|
|
|
|
(3,114)
|
|
(1,893)
|
|
(2,183)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss from discontinued
operations, net of income tax
|
|
|
|
(17,734)
|
|
-
|
|
-
|
|
|
Less: Share-based
compensation expenses
|
|
|
|
-
|
|
-
|
|
-
|
|
|
Non-GAAP
loss from discontinued operations, net of
income tax
|
|
|
|
(17,734)
|
|
-
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss, all
attributable to the Company's ordinary shareholders
|
|
|
|
(21,171)
|
|
(2,002)
|
|
(2,405)
|
|
|
Less: Share-based
compensation expenses
|
|
|
|
(323)
|
|
(109)
|
|
(222)
|
|
|
Non-GAAP net loss, all
attributable to the Company's ordinary
shareholders
|
|
|
|
(20,848)
|
|
(1,893)
|
|
(2,183)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number
of ordinary shares used in computing
basic and diluted loss per share
|
|
|
|
334,056,649
|
|
337,549,708
|
|
339,338,128
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP net loss per
share attributable to ordinary shareholders
|
|
|
|
|
|
|
|
basic and diluted
|
|
|
|
(0.06)
|
|
(0.01)
|
|
(0.01)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP net loss per
ADS attributable to ordinary shareholders
|
|
|
|
|
|
|
|
|
basic and diluted
|
|
|
|
(3.74)
|
|
(0.34)
|
|
(0.39)
|
|
|
View original
content:https://www.prnewswire.com/news-releases/51talk-online-education-group-announces-first-quarter-2023-results-301808034.html
SOURCE 51Talk Online Education Group