HANGZHOU, China, Aug. 31, 2021 /PRNewswire/ — Youdao, Inc. (“Youdao” or the “Firm”) (NYSE: DAO), a number one clever studying firm in China, in the present day introduced its unaudited monetary outcomes for the second quarter ended June 30, 2021.
Second Quarter 2021 Monetary Highlights
- Complete web revenues had been RMB1.Three billion (US$200.Three million), representing a 107.5% enhance from the identical interval in 2020.
– Internet revenues from studying providers had been RMB921.1 million (US$142.7 million), representing a 112.4% enhance from the identical interval in 2020.
– Internet revenues from studying merchandise had been RMB206.Three million (US$32.Zero million), representing a 138.8% enhance from the identical interval in 2020.
– Internet revenues from on-line advertising and marketing providers had been RMB166.Zero million (US$25.7 million), representing a 60.8% enhance from the identical interval in 2020. - Gross billings of on-line programs[1] elevated by 99.7% year-over-year to RMB1.1 billion (US$167.6 million) and gross billings of Youdao Premium Programs[2] elevated by 124.1% year-over-year to RMB1.0 billion (US$158.7 million).
- Gross margin was 52.3%, in contrast with 45.2% for a similar interval in 2020.
- Deferred income from on-line programs was RMB1.Three billion (US$200.2 million) as of June 30, 2021, in contrast with RMB1.4 billion as of December 31, 2020.
|
[1] Gross billings is a non-GAAP monetary measure. Gross billings for a selected interval refers back to the whole quantity of consideration for Youdao’s on-line programs bought primarily on Youdao Premium Programs, NetEase Cloud Classroom and China College MOOC, web of the overall quantity of refunds, in such interval. See “Non-GAAP Measures” and “Unaudited Reconciliation of GAAP and non-GAAP Outcomes” on the finish of this press launch. |
|
[2] Youdao Premium Programs are Youdao’s on-line studying choices primarily targeted on Okay-12 college students, overlaying a large spectrum of topic issues, studying objectives and areas of curiosity. |
Second Quarter 2021 Key Working and Monetary Knowledge
|
For the three months |
||||||
|
(in hundreds of thousands, RMB) |
2020 |
2021 |
% of Change |
|||
|
Gross billings of on-line programs |
542.0 |
1,082.2 |
99.7% |
|||
|
Gross billings of Youdao Premium Programs |
457.2 |
1,024.7 |
124.1% |
|||
|
Paid pupil enrollments of Youdao Premium Programs (in 1000’s) |
401.6 |
919.5 |
129.0% |
|||
|
Gross billings per paid pupil enrollment of Youdao Premium Programs (in RMB) |
1,139 |
1,114 |
-2.1% |
|||
“We consider know-how can empower training. Within the second quarter, we launched our self-developed Clever Follow System, a platform that deeply and seamlessly integrates instructing and analysis with superior know-how and may shortly customise studying paths for college students, considerably bettering their studying outcomes. As well as, we additionally stay firmly dedicated to fulfilling our social duties. As an illustration, in response to the current floods in Henan Province, Youdao joined fingers with public welfare establishments to supply post-disaster reconstruction and teacher help for 10 to 15 faculties and kindergartens, that are anticipated to cowl a minimum of 10,00Zero college students within the affected areas,” stated Dr. Feng Zhou, Chief Govt Officer and Director of Youdao.
“Youdao has at all times been dedicated to complying with legal guidelines and laws. After the PRC authorities launched opinions on additional lowering pupil burden relating to homework and off-campus tutoring for obligatory training, we see 4 pillars of development in our non-AST enterprise, together with studying merchandise, STEAM programs, grownup training and training digitization options. As beforehand disclosed, though our Okay-12 companies are anticipated to be materially affected by heightened regulatory necessities, we are going to proceed to adapt our enterprise to the altering regulatory surroundings and drive sustainable development in the long term via revolutionary applied sciences and merchandise. As a number one clever studying firm, we are going to proceed leveraging superior know-how to empower training,” Dr. Zhou concluded.
Second Quarter 2021 Monetary Outcomes
Internet Revenues
Internet revenues for the second quarter of 2021 had been RMB1.Three billion (US$200.Three million), representing a 107.5% enhance from RMB623.Three million for a similar interval of 2020.
Internet revenues from studying providers had been RMB921.1 million (US$142.7 million) for the second quarter of 2021, representing a 112.4% enhance from RMB433.7 million for a similar interval of 2020. The year-over-year development from studying providers was primarily attributable to elevated revenues from on-line programs, which had been additional pushed by will increase in paid pupil enrollments for Youdao Premium Programs. Paid pupil enrollments for grownup programs of Youdao Premium Programs elevated by 70.3% and accounted for 13.4% of paid pupil enrollments for Premium Programs within the second quarter of 2021.
Internet revenues from studying merchandise had been RMB206.Three million (US$32.Zero million) for the second quarter of 2021, representing a 138.8% enhance from RMB86.Four million for a similar interval of 2020, primarily pushed by the substantial enhance in Youdao Dictionary Pen gross sales quantity.
Internet revenues from on-line advertising and marketing providers had been RMB166.Zero million (US$25.7 million) for the second quarter of 2021, representing a 60.8% enhance from RMB103.2 million for a similar interval of 2020. The year-over-year enhance in revenues from on-line advertising and marketing providers was attributable to the rise within the gross sales of performance-based ads via third events’ web properties.
Gross Revenue and Gross Margin
Gross revenue for the second quarter of 2021 was RMB676.7 million (US$104.Eight million), representing a 140.4% enhance from RMB281.5 million for a similar interval of 2020. Gross margin elevated to 52.3% for the second quarter of 2021 from 45.2% for a similar interval of 2020.
Gross margin for studying providers elevated to 57.9% for the second quarter of 2021 from 51.7% for a similar interval of 2020. The rise was pushed by improved economies of scale and ongoing optimization of Youdao’s school compensation construction.
Gross margin for studying merchandise elevated to 43.0% for the second quarter of 2021 from 32.4% for a similar interval of 2020. The development was primarily attributable to the substantial rise in gross sales quantity of Youdao Dictionary Pen 3.0, which carried the next gross margin than different studying merchandise.
Gross margin for on-line advertising and marketing providers was 32.7% for the second quarter of 2021, in contrast with 28.5% for a similar interval of 2020. The rise was primarily attributable to greater gross sales of performance-based ads via third events’ web properties, which had an improved gross margin profile over final yr.
Working Bills
Complete working bills for the second quarter of 2021 had been RMB1.2 billion (US$189.1 million), representing a rise of 116.3%, in contrast with RMB564.6 million for a similar interval of final yr.
Gross sales and advertising and marketing bills for the second quarter of 2021 had been RMB973.2 million (US$150.7 million), representing a rise of 118.6% from RMB445.2 million for a similar interval of 2020. This enhance was primarily pushed by intensified gross sales and advertising and marketing efforts related to our studying providers and merchandise, in addition to elevated compensation bills incurred because of the growth of the gross sales and advertising and marketing staff.
Analysis and growth bills for the second quarter of 2021 had been RMB180.Zero million (US$27.9 million), representing a rise of 96.9% from RMB91.Four million for a similar interval of 2020. The rise was primarily as a result of greater payroll-related bills together with share-based compensation bills related to a bigger variety of course growth and know-how professionals.
Basic and administrative bills for the second quarter of 2021 had been RMB67.9 million (US$10.5 million), representing a rise of 142.5% from RMB28.Zero million for a similar interval of 2020. The rise was primarily attributable to a rise in worker headcount and associated bills within the second quarter of 2021.
Loss from Operations
Loss from operations for the second quarter of 2021 was RMB544.Four million (US$84.Three million), in contrast with RMB283.Zero million for a similar interval in 2020. The margin of loss from operations was 42.1%, in contrast with 45.4% for a similar interval of final yr.
Internet Loss Attributable to Youdao’s Extraordinary Shareholders
Internet loss attributable to Youdao’s unusual shareholders for the second quarter of 2021 was RMB524.Four million (US$81.2 million), in contrast with RMB257.Eight million for a similar interval final yr. Non-GAAP web loss attributable to Youdao’s unusual shareholders for the second quarter of 2021 was RMB500.5 million (US$77.5 million), in contrast with RMB250.5 million for a similar interval final yr.
Fundamental and diluted web loss per American Depositary Share (“ADS”) attributable to unusual shareholders for the second quarter of 2021 was RMB4.29 (US$0.66), in contrast with RMB2.30 for a similar interval of 2020. Non-GAAP primary and diluted web loss per ADS attributable to unusual shareholders was RMB4.09 (US$0.63), in contrast with RMB2.23 for a similar interval of 2020.
Steadiness Sheet
As of June 30, 2021, Youdao’s money, money equivalents, restricted money, time deposits and short-term investments totaled RMB1.9 billion (US$294.Four million), in contrast with RMB1.2 billion as of December 31, 2020. For the second quarter of 2021, web money utilized in working actions was RMB249.1 million (US$38.6 million), capital expenditures totaled RMB12.1 million (US$1.9 million), and depreciation and amortization bills amounted to RMB5.7 million (US$0.9 million). Youdao’s means to proceed as a going concern relies on administration’s means to implement an efficient marketing strategy in future durations in gentle of the altering regulatory surroundings, generate working money flows and proceed to have the ability to get hold of outdoors sources of financing as essential for Youdao’s future growth. Since its formation, Youdao has acquired numerous monetary help from the NetEase Group, together with at present a RMB878.Zero million short-term mortgage and US$300.Zero million revolving mortgage facility. In help of Youdao’s future enterprise, NetEase Group has agreed that the short-term mortgage will likely be routinely prolonged for a interval of 11 months every time upon Youdao’s prior written request.
As of June 30, 2021, the Firm’s contract liabilities, which primarily consisted of deferred revenues generated from Youdao’s on-line programs, had been RMB1.Four billion (US$213.1 million), in contrast with RMB1.Four billion as of December 31, 2020.
Replace on PRC Regulatory Coverage
As beforehand disclosed, Youdao’s enterprise, monetary situation and company construction are anticipated to be materially affected in future durations by the altering regulatory surroundings primarily in China’s Okay-12 training trade, though the magnitude of the impression stays unsure right now.
NetEase Share Buy Program for Youdao’s ADSs
Youdao’s controlling shareholder, NetEase, Inc. (“NetEase”), in the present day introduced that it has adopted a share buy program of as much as US$50.Zero million of Youdao’s excellent ADSs for a interval to not exceed 36 months starting on September 2, 2021. Beneath the phrases of this program, NetEase might buy Youdao’s ADSs in open-market transactions on the New York Inventory Alternate. The acquisition program could also be suspended or discontinued by NetEase at any time.
Convention Name
Youdao’s administration staff will host a teleconference name with simultaneous webcast at 7:00 a.m. Jap Time on Tuesday, August 31, 2021 (Beijing/Hong Kong Time: 7:00 p.m., Tuesday, August 31, 2021). Youdao’s administration will likely be on the decision to debate the monetary outcomes and reply questions.
Dial-in particulars for the earnings convention name are as follows:
|
United States (toll free): |
+1-888-346-8982 |
|
Worldwide: |
+1-412-902-4272 |
|
Mainland China (toll free): |
400-120-1203 |
|
Hong Kong (toll free): |
800-905-945 |
|
Hong Kong: |
+852-3018-4992 |
|
Convention ID: |
10159712 |
A stay and archived webcast of the convention name will likely be out there on the Firm’s investor relations web site at http://ir.youdao.com.
A replay of the convention name will likely be accessible by cellphone one hour after the conclusion of the stay name on the following numbers, till September 7, 2021:
|
United States: |
+1-877-344-7529 |
|
Worldwide: |
+1-412-317-0088 |
|
Replay Entry Code: |
10159712 |
About Youdao, Inc.
Youdao, Inc. (NYSE: DAO) is a number one clever studying firm in China devoted to creating and utilizing applied sciences to supply studying content material, purposes and options to customers of all ages. Constructing on the recognition of its on-line data instruments similar to Youdao Dictionary and Youdao Translation, Youdao now affords on-line programs overlaying a large spectrum of age teams, topic issues, studying objectives and areas of curiosity. As well as, Youdao has developed a wide range of interactive studying apps and sensible studying units. Youdao was based in 2006 as a part of NetEase, Inc. (NASDAQ: NTES; HKEX: 9999), a number one web know-how firm in China.
For extra info, please go to: http://ir.youdao.com.
Non-GAAP Measures
Youdao considers and makes use of non-GAAP monetary measures, similar to gross billings and non-GAAP web revenue/(loss) attributable to the Firm’s unusual shareholders and non-GAAP primary and diluted earnings/(loss) per ADS, as supplemental metrics in reviewing and assessing its working efficiency and formulating its marketing strategy. The presentation of non-GAAP monetary measures isn’t meant to be thought of in isolation or as an alternative choice to the monetary info ready and offered in accordance with accounting ideas typically accepted in america of America (“U.S. GAAP”).
Youdao defines gross billings for a selected interval as the overall quantity of consideration for on-line programs bought primarily on Youdao Premium Programs, NetEase Cloud Classroom and China College MOOC, web of the overall quantity of refunds, in such interval. The administration makes use of gross billings as a efficiency measurement as a result of the Firm typically payments college students for all the course tuition on the time of sale of the programs and acknowledges income proportionally over a mean of the educational durations of various on-line programs. Youdao defines non-GAAP web revenue/(loss) attributable to the Firm’s unusual shareholders as web revenue/(loss) attributable to the Firm’s unusual shareholders excluding share-based compensation bills. Non-GAAP web revenue/(loss) attributable to the Firm’s shareholders allows Youdao’s administration to evaluate its working outcomes with out contemplating the impression of share-based compensation bills, that are non-cash fees. Youdao believes that these non-GAAP monetary measures present helpful info to buyers in understanding and evaluating the Firm’s present working efficiency and prospects in the identical method as administration does, in the event that they so select.
Non-GAAP monetary measures will not be outlined below U.S. GAAP and will not be offered in accordance with U.S. GAAP. Non-GAAP monetary measures have limitations as analytical instruments, which probably doesn’t replicate all gadgets of expense that have an effect on our operations. Share-based compensation bills have been and will proceed to be incurred in our enterprise and will not be mirrored within the presentation of non-GAAP web revenue/(loss) attributable to the Firm’s unusual shareholders. As well as, the non-GAAP monetary measures Youdao makes use of might differ from the non-GAAP measures makes use of by different firms, together with peer firms, and subsequently their comparability could also be restricted.
The presentation of those non-GAAP monetary measures isn’t meant to be thought of in isolation from or as an alternative choice to the monetary info ready and offered in accordance with GAAP. For extra info on these non-GAAP monetary measures, please see the desk captioned “Unaudited Reconciliation of GAAP and non-GAAP Outcomes” set forth on the finish of this launch.
The accompanying tables have extra particulars on the reconciliations between our GAAP monetary measures which are most immediately similar to non-GAAP monetary measures. Youdao encourages you to assessment its monetary info in its entirety and never depend on a single monetary measure.
Alternate Charge Info
This announcement comprises translations of sure RMB quantities into U.S. {dollars} (“US$”) at specified charges solely for the comfort of the reader. Except in any other case said, all translations from RMB to US$ had been made on the price of RMB6.4566 to US$1.00, the alternate price on June 30, 2021 set forth within the H.10 statistical launch of the Federal Reserve Board. The Firm makes no illustration that the RMB or US$ quantities referred may very well be transformed into US$ or RMB, because the case could also be, at any specific price or in any respect.
Protected Harbor Assertion
This press launch comprises forward-looking statements. These statements are made below the “secure harbor” provisions of the U.S. Personal Securities Litigation Reform Act of 1995. Statements that aren’t historic info, together with statements in regards to the Firm’s beliefs and expectations, are forward-looking statements. Ahead-looking statements contain inherent dangers and uncertainties, and various elements might trigger precise outcomes to vary materially from these contained in any forward-looking assertion. In some circumstances, forward-looking statements may be recognized by phrases or phrases similar to “might,” “will,” “count on,” “anticipate,” “goal,” “purpose,” “estimate,” “intend,” “plan,” “consider,” “potential,” “proceed,” “is/are more likely to” or different related expressions. The Firm can also make written or oral forward-looking statements in its reviews filed with, or furnished to, the U.S. Securities and Alternate Fee, in its annual reviews to shareholders, in press releases and different written supplies and in oral statements made by its officers, administrators or staff to 3rd events. Statements that aren’t historic info, together with statements in regards to the Firm’s beliefs and expectations, are forward-looking statements. Ahead-looking statements contain inherent dangers and uncertainties. Additional info relating to such dangers, uncertainties or elements is included within the Firm’s filings with the SEC. All info offered on this press launch is as of the date of this press launch, and the Firm doesn’t undertake any responsibility to replace such info, besides as required below relevant regulation.
For investor and media inquiries, please contact:
In China:
Jeffrey Wang
Youdao, Inc.
Tel: +86-10-8255-8163 ext. 89980
E-mail: [email protected]
The Piacente Group, Inc.
Emilie Wu
Tel: +86-21-6039-8363
E-mail: [email protected]
In america:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: [email protected]
|
YOUDAO, INC. |
||||||
|
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS |
||||||
|
(RMB and USD in 1000’s) |
||||||
|
As of December 31, |
As of June 30, |
As of June 30, |
||||
|
2020 |
2021 |
2021 |
||||
|
RMB |
RMB |
USD(1) |
||||
|
Belongings |
||||||
|
Present property: |
||||||
|
Money and money equivalents |
609,199 |
829,641 |
128,495 |
|||
|
Time deposits |
263 |
911,142 |
141,118 |
|||
|
Restricted money |
– |
40,662 |
6,298 |
|||
|
Quick-term investments |
584,999 |
119,156 |
18,455 |
|||
|
Accounts receivable, web |
268,830 |
306,144 |
47,416 |
|||
|
Inventories, web |
148,662 |
271,727 |
42,085 |
|||
|
Quantities due from NetEase Group |
4,081 |
5,244 |
812 |
|||
|
Prepayment and different present property |
235,532 |
192,148 |
29,759 |
|||
|
Complete present property |
1,851,566 |
2,675,864 |
414,438 |
|||
|
Non-current property: |
||||||
|
Property and gear, web |
45,636 |
62,072 |
9,614 |
|||
|
Working lease right-of-use property, web |
105,865 |
138,900 |
21,513 |
|||
|
Different property, web |
67,181 |
103,112 |
15,970 |
|||
|
Complete non-current property |
218,682 |
304,084 |
47,097 |
|||
|
Complete property |
2,070,248 |
2,979,948 |
461,535 |
|||
|
Liabilities and Shareholders’ Deficit |
||||||
|
Present liabilities: |
||||||
|
Accounts payables |
141,304 |
74,421 |
11,526 |
|||
|
Payroll payable |
209,603 |
252,667 |
39,133 |
|||
|
Quantities as a result of NetEase Group |
67,230 |
103,092 |
15,967 |
|||
|
Contract liabilities |
1,440,489 |
1,376,033 |
213,120 |
|||
|
Taxes payable |
54,895 |
25,747 |
3,988 |
|||
|
Accrued liabilities and different payables |
602,044 |
885,737 |
137,183 |
|||
|
Quick-term loans from NetEase Group |
878,000 |
878,000 |
135,985 |
|||
|
Complete present liabilities |
3,393,565 |
3,595,697 |
556,902 |
|||
|
Non-current liabilities: |
||||||
|
Lengthy-term lease liabilities |
79,748 |
93,538 |
14,487 |
|||
|
Different non-current liabilities |
4,043 |
3,341 |
518 |
|||
|
Complete non-current liabilities |
83,791 |
96,879 |
15,005 |
|||
|
Complete liabilities |
3,477,356 |
3,692,576 |
571,907 |
|||
|
Shareholders’ deficit: |
||||||
|
Youdao’s shareholders’ deficit |
(1,408,105) |
(712,077) |
(110,287) |
|||
|
Noncontrolling pursuits |
997 |
(551) |
(85) |
|||
|
Complete shareholders’ deficit |
(1,407,108) |
(712,628) |
(110,372) |
|||
|
Complete liabilities and shareholders’ deficit |
2,070,248 |
2,979,948 |
461,535 |
|||
|
Notice 1: |
||||||
|
YOUDAO, INC. |
||||||||||||
|
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS |
||||||||||||
|
(RMB and USD in 1000’s, besides share and per ADS information) |
||||||||||||
|
Three Months Ended |
Six Months Ended |
|||||||||||
|
June 30, |
March 31, |
June 30, |
June 30, |
June 30, |
June 30, |
|||||||
|
2020 |
2021 |
2021 |
2021 |
2020 |
2021 |
|||||||
|
RMB |
RMB |
RMB |
USD(1) |
RMB |
RMB |
|||||||
|
Internet revenues: |
||||||||||||
|
Studying providers |
433,697 |
998,854 |
921,138 |
142,666 |
822,675 |
1,919,992 |
||||||
|
Studying merchandise |
86,381 |
201,919 |
206,290 |
31,950 |
139,541 |
408,209 |
||||||
|
On-line advertising and marketing providers |
103,212 |
139,094 |
165,979 |
25,707 |
202,462 |
305,073 |
||||||
|
Complete web revenues |
623,290 |
1,339,867 |
1,293,407 |
200,323 |
1,164,678 |
2,633,274 |
||||||
|
Value of revenues (2) |
(341,751) |
(572,415) |
(616,661) |
(95,509) |
(647,414) |
(1,189,076) |
||||||
|
Gross revenue |
281,539 |
767,452 |
676,746 |
104,814 |
517,264 |
1,444,198 |
||||||
|
Working bills: |
||||||||||||
|
Gross sales and advertising and marketing bills (2) |
(445,151) |
(883,872) |
(973,239) |
(150,736) |
(744,310) |
(1,857,111) |
||||||
|
Analysis and growth bills (2) |
(91,423) |
(155,080) |
(180,029) |
(27,883) |
(175,522) |
(335,109) |
||||||
|
Basic and administrative bills (2) |
(27,978) |
(49,354) |
(67,850) |
(10,507) |
(56,441) |
(117,204) |
||||||
|
Complete working bills |
(564,552) |
(1,088,306) |
(1,221,118) |
(189,126) |
(976,273) |
(2,309,424) |
||||||
|
Loss from operations |
(283,013) |
(320,854) |
(544,372) |
(84,312) |
(459,009) |
(865,226) |
||||||
|
Curiosity revenue |
7,340 |
3,074 |
6,735 |
1,042 |
15,225 |
9,809 |
||||||
|
Curiosity expense |
(7,764) |
(7,617) |
(7,764) |
(1,202) |
(15,526) |
(15,381) |
||||||
|
Others, web |
25,619 |
354 |
23,366 |
3,619 |
34,195 |
23,720 |
||||||
|
Loss earlier than tax |
(257,818) |
(325,043) |
(522,035) |
(80,853) |
(425,115) |
(847,078) |
||||||
|
Revenue tax expense |
(9) |
(1,615) |
(2,999) |
(464) |
(2,194) |
(4,614) |
||||||
|
Internet loss |
(257,827) |
(326,658) |
(525,034) |
(81,317) |
(427,309) |
(851,692) |
||||||
|
Internet loss attributable to noncontrolling pursuits |
21 |
867 |
681 |
105 |
79 |
1,548 |
||||||
|
Internet loss attributable to unusual shareholders of the Firm |
(257,806) |
(325,791) |
(524,353) |
(81,212) |
(427,230) |
(850,144) |
||||||
|
Fundamental web loss per ADS |
(2.30) |
(2.75) |
(4.29) |
(0.66) |
(3.81) |
(7.07) |
||||||
|
Diluted web loss per ADS |
(2.30) |
(2.75) |
(4.29) |
(0.66) |
(3.81) |
(7.07) |
||||||
|
Shares utilized in computing primary web loss per ADS |
112,277,976 |
118,297,304 |
122,332,306 |
122,332,306 |
112,022,872 |
120,325,943 |
||||||
|
Shares utilized in computing diluted web loss per ADS |
112,277,976 |
118,297,304 |
122,332,306 |
122,332,306 |
112,022,872 |
120,325,943 |
||||||
|
Notice 1: |
||||||||||||
|
Notice 2: |
||||||||||||
|
Share-based compensation in every class: |
||||||||||||
|
Value of revenues |
1,043 |
1,881 |
2,496 |
387 |
2,211 |
4,377 |
||||||
|
Gross sales and advertising and marketing bills |
808 |
2,559 |
3,610 |
559 |
1,719 |
6,169 |
||||||
|
Analysis and growth bills |
3,016 |
8,435 |
11,179 |
1,731 |
6,159 |
19,614 |
||||||
|
Basic and administrative bills |
2,394 |
5,156 |
6,548 |
1,014 |
4,741 |
11,704 |
||||||
|
YOUDAO, INC. |
||||||||||||
|
UNAUDITED ADDITIONAL INFORMATION |
||||||||||||
|
(RMB and USD in 1000’s) |
||||||||||||
|
Three Months Ended |
Six Months Ended |
|||||||||||
|
June 30, |
March 31, |
June 30, |
June 30, |
June 30, |
June 30, |
|||||||
|
2020 |
2021 |
2021 |
2021 |
2020 |
2021 |
|||||||
|
RMB |
RMB |
RMB |
USD |
RMB |
RMB |
|||||||
|
Internet revenues |
||||||||||||
|
Studying providers |
433,697 |
998,854 |
921,138 |
142,666 |
822,675 |
1,919,992 |
||||||
|
Studying merchandise |
86,381 |
201,919 |
206,290 |
31,950 |
139,541 |
408,209 |
||||||
|
On-line advertising and marketing providers |
103,212 |
139,094 |
165,979 |
25,707 |
202,462 |
305,073 |
||||||
|
Complete web revenues |
623,290 |
1,339,867 |
1,293,407 |
200,323 |
1,164,678 |
2,633,274 |
||||||
|
Value of revenues |
||||||||||||
|
Studying providers |
209,530 |
343,179 |
387,345 |
59,992 |
396,763 |
730,524 |
||||||
|
Studying merchandise |
58,412 |
112,914 |
117,671 |
18,225 |
97,956 |
230,585 |
||||||
|
On-line advertising and marketing providers |
73,809 |
116,322 |
111,645 |
17,292 |
152,695 |
227,967 |
||||||
|
Complete price of revenues |
341,751 |
572,415 |
616,661 |
95,509 |
647,414 |
1,189,076 |
||||||
|
Gross margin |
||||||||||||
|
Studying providers |
51.7% |
65.6% |
57.9% |
57.9% |
51.8% |
62.0% |
||||||
|
Studying merchandise |
32.4% |
44.1% |
43.0% |
43.0% |
29.8% |
43.5% |
||||||
|
On-line advertising and marketing providers |
28.5% |
16.4% |
32.7% |
32.7% |
24.6% |
25.3% |
||||||
|
Complete gross margin |
45.2% |
57.3% |
52.3% |
52.3% |
44.4% |
54.8% |
||||||
|
YOUDAO, INC. |
||||||||||||
|
UNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS |
||||||||||||
|
(RMB and USD in 1000’s, besides per ADS information) |
||||||||||||
|
Three Months Ended |
Six Months Ended |
|||||||||||
|
June 30, |
March 31, |
June 30, |
June 30, |
June 30, |
June 30, |
|||||||
|
2020 |
2021 |
2021 |
2021 |
2020 |
2021 |
|||||||
|
RMB |
RMB |
RMB |
USD |
RMB |
RMB |
|||||||
|
Internet revenues of on-line programs |
394,596 |
963,046 |
884,163 |
136,939 |
750,396 |
1,847,209 |
||||||
|
Add: value-added tax |
38,687 |
45,775 |
61,257 |
9,488 |
60,035 |
107,032 |
||||||
|
Add: ending deferred income |
658,052 |
1,155,891 |
1,292,672 |
200,209 |
658,052 |
1,292,672 |
||||||
|
Much less: starting deferred income |
(549,317) |
(1,356,041) |
(1,155,891) |
(179,025) |
(407,861) |
(1,356,041) |
||||||
|
Non-GAAP gross billings of on-line programs |
542,018 |
808,671 |
1,082,201 |
167,611 |
1,060,622 |
1,890,872 |
||||||
|
Internet revenues of Youdao Premium Programs |
332,202 |
898,920 |
820,532 |
127,084 |
633,727 |
1,719,452 |
||||||
|
Add: value-added tax |
33,044 |
41,971 |
58,004 |
8,984 |
51,136 |
99,975 |
||||||
|
Add: ending deferred income |
562,643 |
1,054,107 |
1,200,300 |
185,903 |
562,643 |
1,200,300 |
||||||
|
Much less: starting deferred income |
(470,668) |
(1,253,527) |
(1,054,107) |
(163,260) |
(344,111) |
(1,253,527) |
||||||
|
Non-GAAP gross billings of Youdao Premium Programs |
457,221 |
741,471 |
1,024,729 |
158,711 |
903,395 |
1,766,200 |
||||||
|
Internet loss attributable to unusual shareholders of the Firm |
(257,806) |
(325,791) |
(524,353) |
(81,212) |
(427,230) |
(850,144) |
||||||
|
Add: share-based compensation |
7,261 |
18,031 |
23,833 |
3,691 |
14,830 |
41,864 |
||||||
|
Non-GAAP web loss attributable to unusual shareholders of the Firm |
(250,545) |
(307,760) |
(500,520) |
(77,521) |
(412,400) |
(808,280) |
||||||
|
Non-GAAP primary web loss per ADS |
(2.23) |
(2.60) |
(4.09) |
(0.63) |
(3.68) |
(6.72) |
||||||
|
Non-GAAP diluted web loss per ADS |
(2.23) |
(2.60) |
(4.09) |
(0.63) |
(3.68) |
(6.72) |
||||||
SOURCE Youdao, Inc.
Associated Hyperlinks
http://www.youdao.com/