BEIJING, Sept. 8, 2022 /PRNewswire/ — Gaotu Techedu Inc. (Â NYSE: GOTU) (“Gaotu” or the “Firm”), a technology-driven schooling firm and on-line large-class tutoring service supplier in China, at this time introduced its unaudited monetary outcomes for the second quarter ended June 30, 2022.
Second Quarter 2022 Highlights[1]
- Internet revenues have been RMB537.Eight million, in contrast with web revenues of RMB2,232.Three million in the identical interval of 2021.
- Gross billings[2] have been RMB611.7 million, in contrast with gross billings of RMB2,694.7 million in the identical interval of 2021.
- Internet loss was RMB49.Eight million, in contrast with web lack of RMB918.Eight million in the identical interval of 2021.
- Non-GAAP web earnings was RMB0.6 million, in contrast with non-GAAP web lack of RMB763.9 million in the identical interval of 2021.
- Internet working money influx was RMB93.Eight million, in contrast with web working money outflow of RMB318.6 million in the identical interval of 2021.
[1]Â For a reconciliation of non-GAAP numbers, please see the desk captioned “Reconciliations of non-GAAP measures to probably the most comparable GAAP measures” on the finish of this press launch. Non-GAAP gross revenue, non-GAAP earnings (loss) from operations, non-GAAP web earnings (loss) exclude share-based compensation bills.
[2]Â Gross billings is a non-GAAP monetary measure, which is outlined as the overall amount of money acquired for the sale after all choices in such interval, web of the overall quantity of refunds in such interval. See “About Non-GAAP Monetary Measures” and “Reconciliations of non-GAAP measures to probably the most comparable GAAP measures” elsewhere on this press launch.
|
Second Quarter 2022 Key Monetary and Working Information |
|||||||||
|
(In 1000’s of RMB, apart from percentages) |
|||||||||
|
For the three months ended June 30, |
|||||||||
|
2021 |
2022 |
Pct. Change |
|||||||
|
Internet revenues |
2,232,254 |
537,799 |
(75.9)Â % |
||||||
|
Gross billings |
2,694,732 |
611,668 |
(77.3)Â % |
||||||
|
Internet loss |
(918,791) |
(49,809) |
(94.6)Â % |
||||||
|
Non-GAAP web (loss) earnings |
(763,890) |
645 |
NM |
||||||
|
Internet working money (outflow) influx |
(318,554) |
93,794 |
NM |
||||||
Six Months Ended June 30, 2022 Highlights
- Internet revenues have been RMB1,262.Four million, in contrast with web revenues of RMB4,172.6 million in the identical interval of 2021.
- Gross billings have been RMB929.Eight million, in contrast with gross billings of RMB3,876.1 million in the identical interval of 2021.
- Internet earnings was RMB3.9 million, in contrast with web lack of RMB2,344.7 million in the identical interval of 2021.
- Non-GAAP web earnings was RMB93.2 million, in contrast with non-GAAP web lack of RMB2,093.Three million in the identical interval of 2021.
- Internet working money outflow was RMB387.5 million, in contrast with web working money outflow of RMB2,413.9 million in the identical interval of 2021.
|
First Six Months 2022 Key Monetary and Working Information |
|||||||||
|
(In 1000’s of RMB, apart from percentages) |
|||||||||
|
For the six months ended June 30, |
|||||||||
|
2021 |
2022 |
Pct. Change |
|||||||
|
Internet revenues |
4,172,597 |
1,262,414 |
(69.7)Â % |
||||||
|
Gross billings |
3,876,074 |
929,763 |
(76.0)Â % |
||||||
|
Internet (loss) earnings |
(2,344,710) |
3,909 |
NM |
||||||
|
Non-GAAP web (loss) earnings |
(2,093,310) |
93,188 |
NM |
||||||
|
Internet working money outflow |
(2,413,882) |
(387,472) |
(83.9)Â % |
||||||
Larry Xiangdong Chen, the Firm’s founder, Chairman and CEO, commented, “Throughout the second quarter of 2022, our companies sustained a wholesome and secure progress. Our gross billings almost doubled in comparison with final quarter, and we efficiently generated optimistic web working cashflow. Our web loss was considerably narrowed year-over-year, and that is the third consecutive quarter that we secured non-GAAP profitability after our enterprise restructuring. Going ahead, we are going to proceed to give attention to instructional companies for faculty college students and adults, non-academic tutoring companies, and academic contents & digitalized studying merchandise, proceed to uphold the technique of worthwhile progress, and proceed to try for efficient progress via bettering operational effectivity and optimizing price construction.”
Shannon Shen, CFO of the Firm, added, “Throughout this quarter, we continued to realize efficient progress below this difficult financial surroundings. Our web revenues have been RMB537.Eight million, and our gross billings have been RMB611.7 million. Additional, web revenues generated by comparable companies confirmed quarter-over-quarter progress for 3 consecutive quarters, and their gross billings confirmed quarter-over-quarter progress for 4 consecutive quarters. We count on this momentum to proceed within the subsequent quarter. We additionally realized a optimistic web working cashflow of RMB93.Eight million within the second quarter. With that, our capital place stays robust. As of June 30, 2022, we had a complete of roughly RMB3.Four billion by way of money, money equivalents, restricted money, and short-term investments on our steadiness sheet, offering ample sources for continued enterprise improvement.”
Monetary Outcomes for the Second Quarter of 2022
Internet Revenues
Internet revenues decreased by 75.9% to RMB537.Eight million from RMB2,232.Three million within the second quarter of 2021. The lower was primarily because of the organizational changes and enterprise restructuring to adjust to the federal government laws, together with the cessation of educational topic tutoring companies to college students (“Enterprise Restructuring”).
Value of Revenues
Value of revenues decreased by 77.9% to RMB160.Zero million from RMB724.Three million within the second quarter of 2021. The decline was primarily because of the discount of workers and places of work on account of the Enterprise Restructuring, which resulted within the lower in workers associated price, studying materials price and rental bills.
Gross Revenue and Gross Margin
Gross revenue was RMB377.Eight million, in contrast with RMB1,508.Zero million within the second quarter of 2021. Gross revenue margin elevated to 70.2% from 67.6% in the identical interval of 2021.
Non-GAAP gross revenue was RMB396.Four million, in contrast with RMB1,543.5 million in the identical interval of 2021. Non-GAAP gross revenue margin elevated to 73.7% from 69.1% in the identical interval of 2021.
Working Bills
Working bills decreased 81.4% to RMB438.Three million from RMB2,362.7 million within the second quarter of 2021. The decline was primarily because of the decreased expenditure on branding and advertising actions on tutorial topic tutoring companies on account of the modifications of regulatory surroundings. Furthermore, workers associated bills and different working associated bills additionally decreased, which was because of the discount of workers and places of work on account of the Enterprise Restructuring.
- Promoting bills decreased to RMB269.Zero million from RMB1,641.1 million within the second quarter of 2021.
- Analysis and improvement bills decreased to RMB103.9 million from RMB426.5 million within the second quarter of 2021.
- Common and administrative bills decreased to RMB65.Four million from RMB242.Zero million within the second quarter of 2021.
Loss from Operations
Loss from operations was RMB60.5 million, in contrast with the loss from operations of RMB854.7 million within the second quarter of 2021, which was primarily on account of a big lower in working associated price and bills on account of the Enterprise Restructuring.
Non-GAAP loss from operations was RMB10.Zero million, in contrast with non-GAAP loss from operations of RMB699.Eight million within the second quarter of 2021.
Curiosity Revenue and Realized Positive factors from Investments
Curiosity earnings and realized positive aspects from investments, on mixture, was RMB9.Eight million, in contrast with RMB23.5 million of curiosity earnings and realized positive aspects from investments within the second quarter of 2021.
Different Revenue (Expense)
Different earnings was RMB0.Four million, in contrast with different expense of RMB36.5 million within the second quarter of 2021.
Internet (Loss) Revenue
Internet loss was RMB49.Eight million, in contrast with web lack of RMB918.Eight million within the second quarter of 2021.
Non-GAAP web earnings was RMB0.6 million, in contrast with non-GAAP web lack of RMB763.9 million within the second quarter of 2021.
Money Movement
Internet working money influx for the second quarter of 2022 was RMB93.Eight million, which was primarily because of the elevated money influx of gross billings.
Primary and Diluted Internet (Loss) Revenue per ADS
Primary and diluted web loss per ADS have been each RMB0.19 within the second quarter of 2022.
Non-GAAP primary and diluted web earnings per ADS have been each roughly nil within the second quarter of 2022.
Share Excellent
As of June 30, 2022, the Firm had 172,397,205 strange shares excellent.
Money, Money Equivalents, Restricted Money and Quick-term Investments
As of June 30, 2022, the Firm had money and money equivalents, restricted money and short-term investments of RMB3,353.2 million in mixture, in contrast with a complete of RMB3,671.1 million as of December 31, 2021.
Different Payables
As of June 30, 2022, different payables in non-current liabilities totaled RMB26.6 million, which have been payables associated to the acquisition of the Zhengzhou properties.
Enterprise Outlook
Primarily based on the Firm’s present estimates, complete web revenues for the third quarter of 2022 are anticipated to be between RMB576 million and RMB596 million, representing a lower of 46.5% to 48.3% on a year-over-year foundation. These estimates replicate the Firm’s present expectations, that are topic to alter.
Convention Name
The Firm will maintain an earnings convention name at 8:00 AM U.S. Jap Time on Thursday, September 8, 2022 (8:00 PM on Thursday, September 8, 2022, Beijing/Hong Kong Time). Dial-in particulars for the earnings convention name are as follows:
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Worldwide: |
1-412-317-6061 |
|
US: |
1-888-317-6003 |
|
Hong Kong: |
800-963-976 |
|
Mainland China: |
400-120-6115 |
|
Passcode: |
9006495 |
A phone replay might be out there two hours after the conclusion of the convention name via September 15, 2022. The dial-in particulars are:
|
Worldwide:Â |
1-412-317-0088 |
|
US: |
1-877-344-7529 |
|
Passcode: |
7374750 |
Moreover, a reside and archived webcast of this convention name might be out there at http://ir.gaotu.cn/residence.
Protected Harbor Assertion
This announcement accommodates forward-looking statements. These statements are made below the “protected harbor” provisions of the U.S. Personal Securities Litigation Reform Act of 1995. These forward-looking statements might be recognized by terminology corresponding to “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and related statements. Amongst different issues, the enterprise outlook, in addition to the Firm’s strategic and operational plans, comprise forward-looking statements. The Firm might also make written or oral forward-looking statements in its reviews filed with, or furnished to, the U.S. Securities and Change Fee, in its annual reviews to shareholders, in press releases and different written supplies and in oral statements made by its officers, administrators or workers to 3rd events. Statements that aren’t historic info, together with statements concerning the Firm’s beliefs and expectations, are forward-looking statements. Ahead-looking statements contain inherent dangers and uncertainties. A lot of components may trigger precise outcomes to vary materially from these contained in any forward-looking assertion, together with however not restricted to the next: the Firm’s capability to proceed to draw college students to enroll in its programs; the Firm’s capability to proceed to recruit, practice and retain certified academics; the Firm’s capability to enhance the content material of its current course choices and to develop new programs; the Firm’s capability to take care of and improve its model; the Firm’s capability to take care of and proceed to enhance its educating outcomes; and the Firm’s capability to compete successfully in opposition to its opponents. Additional info relating to these and different dangers is included within the Firm’s reviews filed with, or furnished to the U.S. Securities and Change Fee. All info supplied on this press launch and within the attachments is as of the date of this press launch, and the Firm undertakes no obligation to replace such info or any forward-looking assertion, besides as required below relevant legislation.
About Gaotu Techedu Inc.
Gaotu is a technology-driven schooling firm and on-line large-class tutoring service supplier in China. The Firm affords instructional companies for faculty college students and adults, non-academic tutoring companies, and academic contents & digitalized studying merchandise. Gaotu adopts a web based reside large-class format to ship its programs, which the Firm believes is the best and scalable mannequin to disseminate scarce high-quality educating sources to aspiring college students in China. Large knowledge analytics permeates each facet of the Firm’s enterprise and facilitates the applying of the most recent expertise to enhance educating supply, scholar studying expertise, and operational effectivity.
About Non-GAAP Monetary Measures
The Firm makes use of gross billings, non-GAAP gross revenue, non-GAAP earnings (loss) from operations and non-GAAP web earnings (loss), every a non-GAAP monetary measure, in evaluating its working outcomes and for monetary and operational decision-making functions.
The Firm defines gross billings for a particular interval as the overall amount of money acquired for the sale after all choices in such interval, web of the overall quantity of refunds in such interval. The Firm’s administration makes use of gross billings as a efficiency measurement as a result of the Firm typically payments its college students for the whole course payment on the time of sale of its course choices and acknowledges income proportionally because the courses are delivered. For some programs, the Firm continues to supply college students with 12 months to 36 months entry to the pre-recorded audio-video programs after the net reside programs are delivered. The Firm believes that gross billings offers precious perception into the gross sales of its course packages and the efficiency of its enterprise. As gross billings have materials limitations as an analytical metrics and might not be calculated in the identical method by all corporations, it might not be corresponding to different equally titled measures utilized by different corporations.
Non-GAAP gross revenue, non-GAAP earnings (loss) from operations and non-GAAP web earnings (loss) exclude share-based compensation bills, and such adjustment excludes the affect on earnings tax. The Firm believes that these non-GAAP monetary measures present significant supplemental info relating to its efficiency and liquidity by excluding share-based bills that might not be indicative of its working efficiency from a money perspective. The Firm believes that each administration and traders profit from these non-GAAP monetary measures in assessing its efficiency and when planning and forecasting future intervals. These non-GAAP monetary measures additionally facilitate administration’s inner comparisons to the Firm’s historic efficiency. A limitation of utilizing non-GAAP measures is that these non-GAAP measures exclude share-based compensation prices which have been and can proceed to be for the foreseeable future a big recurring expense within the Firm’s enterprise.
The presentation of those non-GAAP monetary measures is just not meant to be thought-about in isolation from or as an alternative choice to the monetary info ready and introduced in accordance with GAAP. For extra info on these non-GAAP monetary measures, please see the desk captioned “Reconciliations of non-GAAP measures to probably the most comparable GAAP measures” set forth on the finish of this launch.
The accompanying tables have extra particulars on the reconciliations between GAAP monetary measures which might be most immediately corresponding to non-GAAP monetary measures.
Change Fee
The Firm’s enterprise is primarily performed in China and a big majority of revenues generated are denominated in Renminbi (“RMB”). This announcement accommodates foreign money conversions of RMB quantities into U.S. {dollars} (“USD”) solely for the comfort of the reader. Except in any other case famous, all translations from RMB to USD are made at a price of RMB6.6981 to USD1.0000, the efficient midday shopping for price for June 30, 2022 as set forth within the H.10 statistical launch of the Federal Reserve Board. No illustration is made that the RMB quantities may have been, or may very well be, transformed, realized or settled into USD at that price on June 30, 2022, or at another price.
For additional info, please contact:
Gaotu Techedu Inc.
Investor Relations
E-mail: [email protected]
Christensen
In China
Ms. Vivian Wang
Telephone: +852 2232 3978
E-mail: [email protected]
Within the US
Ms. Linda Bergkamp
Telephone: +1-480-614-3004
E mail: [email protected]
|
Gaotu Techedu Inc. |
|||||||||||
|
Unaudited condensed consolidated steadiness sheets |
|||||||||||
|
(In 1000’s of RMB and USD, apart from share, per share and per ADS knowledge) |
|||||||||||
|
As of December 31, |
As of June 30, |
||||||||||
|
2021 |
2022 |
2022 |
|||||||||
|
RMB |
RMB |
USD |
|||||||||
|
ASSETS |
|||||||||||
|
Present property |
|||||||||||
|
   Money and money equivalents |
728,934 |
590,689 |
88,188 |
||||||||
|
   Restricted money |
168,189 |
764 |
114 |
||||||||
|
   Quick-term investments |
2,774,000 |
2,761,758 |
412,320 |
||||||||
|
   Stock |
15,595 |
24,759 |
3,696 |
||||||||
|
   Pay as you go bills and different present property |
250,068 |
312,887 |
46,713 |
||||||||
|
Whole present property |
3,936,786 |
3,690,857 |
551,031 |
||||||||
|
Non-current property |
|||||||||||
|
   Working lease right-of-use property |
353,877 |
148,935 |
22,235 |
||||||||
|
   Property, tools and software program, web |
680,009 |
583,133 |
87,059 |
||||||||
|
   Land use rights, web |
28,178 |
27,775 |
4,147 |
||||||||
|
   Rental deposit |
22,544 |
10,920 |
1,630 |
||||||||
|
   Different non-current property |
3,272 |
2,895 |
432 |
||||||||
|
TOTAL ASSETS |
5,024,666 |
4,464,515 |
666,534 |
||||||||
|
LIABILITIES |
|||||||||||
|
Present liabilities |
|||||||||||
|
   Accrued bills and different present liabilities |
693,265 |
545,101 |
81,380 |
||||||||
|
   Deferred income, present portion of the |
986,993 |
622,478 |
92,934 |
||||||||
|
  Working lease liabilities, present portion |
80,010 |
39,046 |
5,829 |
||||||||
|
Whole present liabilities |
1,760,268 |
1,206,625 |
180,143 |
||||||||
|
Gaotu Techedu Inc. |
|||||||||||
|
Unaudited condensed consolidated steadiness sheets |
|||||||||||
|
(In 1000’s of RMB and USD, apart from share, per share and per ADS knowledge) |
|||||||||||
|
As of December 31, |
As of June 30, |
||||||||||
|
2021 |
2022 |
2022 |
|||||||||
|
RMB |
RMB |
USD |
|||||||||
|
Non-current liabilities |
|||||||||||
|
   Deferred income, non-current portion of |
9,225 |
25,389 |
3,790 |
||||||||
|
   Working lease liabilities, non-current |
276,035 |
113,994 |
17,019 |
||||||||
|
   Deferred tax liabilities (together with deferred tax |
71,616 |
71,459 |
10,669 |
||||||||
|
   Different payables of the consolidated VIE |
26,580 |
26,580 |
3,968 |
||||||||
|
TOTAL LIABILITIES |
2,143,724 |
1,444,047 |
215,589 |
||||||||
|
SHAREHOLDERS’ EQUITY |
|||||||||||
|
   Strange shares |
114 |
114 |
17 |
||||||||
|
   Extra paid-in capital |
7,793,234 |
7,882,256 |
1,176,790 |
||||||||
|
   Accrued different complete loss |
(143,111) |
(96,516) |
(14,409) |
||||||||
|
   Statutory reserve |
40,380 |
40,380 |
6,029 |
||||||||
|
   Accrued deficit |
(4,809,675) |
(4,805,766) |
(717,482) |
||||||||
|
TOTAL SHAREHOLDERS’ EQUITY |
2,880,942 |
3,020,468 |
450,945 |
||||||||
|
TOTAL LIABILITIES AND TOTAL |
5,024,666 |
4,464,515 |
666,534 |
||||||||
|
Gaotu Techedu Inc. |
|||||||||||||||||||||||
|
Unaudited condensed consolidated statements of operations |
|||||||||||||||||||||||
|
(In 1000’s of RMB and USD, apart from share, per share and per ADS knowledge) |
|||||||||||||||||||||||
|
For the three months ended June 30, |
For the six months ended June 30, |
||||||||||||||||||||||
|
2021 |
2022 |
2022 |
2021 |
2022 |
2022 |
||||||||||||||||||
|
RMB |
RMB |
USD |
RMB |
RMB |
USD |
||||||||||||||||||
|
Internet revenues |
2,232,254 |
537,799 |
80,291 |
4,172,597 |
1,262,414 |
188,473 |
|||||||||||||||||
|
Value of revenues |
(724,278) |
(160,004) |
(23,888) |
(1,295,780) |
(372,949) |
(55,680) |
|||||||||||||||||
|
Gross revenue |
1,507,976 |
377,795 |
56,403 |
2,876,817 |
889,465 |
132,793 |
|||||||||||||||||
|
Working bills: |
|||||||||||||||||||||||
|
Promoting bills |
(1,641,083) |
(268,975) |
(40,157) |
(3,929,793) |
(553,149) |
(82,583) |
|||||||||||||||||
|
Analysis and improvement bills |
(426,502) |
(103,872) |
(15,508) |
(791,612) |
(227,179) |
(33,917) |
|||||||||||||||||
|
Common and administrative bills |
(241,982) |
(65,441) |
(9,770) |
(459,597) |
(144,377) |
(21,555) |
|||||||||||||||||
|
Impairment loss on intangible property |
(53,131) |
– |
– |
(53,131) |
– |
– |
|||||||||||||||||
|
Whole working bills |
(2,362,698) |
(438,288) |
(65,435) |
(5,234,133) |
(924,705) |
(138,055) |
|||||||||||||||||
|
Loss from operations |
(854,722) |
(60,493) |
(9,032) |
(2,357,316) |
(35,240) |
(5,262) |
|||||||||||||||||
|
Curiosity earnings |
7,667 |
1,763 |
263 |
21,752 |
9,445 |
1,410 |
|||||||||||||||||
|
Realized positive aspects from investments |
15,826 |
8,074 |
1,205 |
24,636 |
19,733 |
2,946 |
|||||||||||||||||
|
Different (expense) earnings |
(36,519) |
397 |
59 |
8,368 |
28,401 |
4,240 |
|||||||||||||||||
|
(Loss) earnings earlier than provision for |
(867,748) |
(50,259) |
(7,505) |
(2,302,560) |
22,339 |
3,334 |
|||||||||||||||||
|
Revenue tax (bills) advantages |
(51,658) |
450 |
67 |
(41,848) |
(18,430) |
(2,752) |
|||||||||||||||||
|
Share of outcomes of fairness investees |
615 |
– |
– |
(302) |
– |
– |
|||||||||||||||||
|
Internet (loss) earnings |
(918,791) |
(49,809) |
(7,438) |
(2,344,710) |
3,909 |
582 |
|||||||||||||||||
|
Internet (loss) earnings attributable to |
(918,791) |
(49,809) |
(7,438) |
(2,344,710) |
3,909 |
582 |
|||||||||||||||||
|
Internet (loss) earnings per strange |
|||||||||||||||||||||||
|
Primary |
(5.38) |
(0.29) |
(0.04) |
(13.75) |
0.02 |
0.00 |
|||||||||||||||||
|
Diluted |
(5.38) |
(0.29) |
(0.04) |
(13.75) |
0.02 |
0.00 |
|||||||||||||||||
|
Internet (loss) earnings per ADS |
|||||||||||||||||||||||
|
Primary |
(3.59) |
(0.19) |
(0.03) |
(9.17) |
0.02 |
0.00 |
|||||||||||||||||
|
Diluted |
(3.59) |
(0.19) |
(0.03) |
(9.17) |
0.01 |
0.00 |
|||||||||||||||||
|
Weighted common shares utilized in |
|||||||||||||||||||||||
|
Primary |
170,634,264 |
172,188,243 |
172,188,243 |
170,482,819 |
171,866,239 |
171,866,239 |
|||||||||||||||||
|
Diluted |
170,634,264 |
172,188,243 |
172,188,243 |
170,482,819 |
175,382,752 |
175,382,752 |
|||||||||||||||||
|
Word: Three ADSs symbolize two strange shares. |
|||||||||||||||||||||||
|
Gaotu Techedu Inc. |
|||||||||||||||||||||||
|
Reconciliations of non-GAAP measures to probably the most comparable GAAP measures |
|||||||||||||||||||||||
|
(In 1000’s of RMB and USD, apart from share, per share and per ADS knowledge) |
|||||||||||||||||||||||
|
For the three months ended June 30, |
For the six months ended June 30, |
||||||||||||||||||||||
|
2021 |
2022 |
2022 |
2021 |
2022 |
2022 |
||||||||||||||||||
|
RMB |
RMB |
USD |
RMB |
RMB |
USD |
||||||||||||||||||
|
Internet revenues |
2,232,254 |
537,799 |
80,291 |
4,172,597 |
1,262,414 |
188,473 |
|||||||||||||||||
|
Much less: different revenues(1) |
78 |
11,829 |
1,766 |
471 |
26,416 |
3,944 |
|||||||||||||||||
|
Add: VAT and surcharges |
142,600 |
33,857 |
5,055 |
257,523 |
78,307 |
11,691 |
|||||||||||||||||
|
Add: ending deferred income |
1,976,369 |
647,867 |
96,724 |
1,976,369 |
647,867 |
96,724 |
|||||||||||||||||
|
Add: ending refund legal responsibility |
324,504 |
42,439 |
6,336 |
324,504 |
42,439 |
6,336 |
|||||||||||||||||
|
Much less: starting deferred |
1,896,528 |
599,719 |
89,536 |
2,733,739 |
996,218 |
148,731 |
|||||||||||||||||
|
Much less: starting refund |
84,389 |
38,746 |
5,785 |
120,709 |
78,630 |
11,739 |
|||||||||||||||||
|
Gross billings |
2,694,732 |
611,668 |
91,319 |
3,876,074 |
929,763 |
138,810 |
|||||||||||||||||
|
Word (1): Embrace miscellaneous revenues generated from companies apart from programs. |
|||||||||||||||||||||||
|
For the three months ended June 30, |
For the six months ended June 30, |
||||||||||||||||||||||
|
2021 |
2022 |
2022 |
2021 |
2022 |
2022 |
||||||||||||||||||
|
RMB |
RMB |
USD |
RMB |
RMB |
USD |
||||||||||||||||||
|
Gross revenue |
1,507,976 |
377,795 |
56,403 |
2,876,817 |
889,465 |
132,793 |
|||||||||||||||||
|
Share-based compensation expense |
35,561 |
18,630 |
2,781 |
60,342 |
36,979 |
5,521 |
|||||||||||||||||
|
Non-GAAP gross revenue |
1,543,537 |
396,425 |
59,184 |
2,937,159 |
926,444 |
138,314 |
|||||||||||||||||
|
Loss from operations |
(854,722) |
(60,493) |
(9,032) |
(2,357,316) |
(35,240) |
(5,262) |
|||||||||||||||||
|
Share-based compensation bills |
154,901 |
50,454 |
7,533 |
251,400 |
89,279 |
13,329 |
|||||||||||||||||
|
Non-GAAP (loss) earnings from |
(699,821) |
(10,039) |
(1,499) |
(2,105,916) |
54,039 |
8,067 |
|||||||||||||||||
|
Internet (loss) earnings |
(918,791) |
(49,809) |
(7,438) |
(2,344,710) |
3,909 |
582 |
|||||||||||||||||
|
Share-based compensation bills |
154,901 |
50,454 |
7,533 |
251,400 |
89,279 |
13,329 |
|||||||||||||||||
|
Non-GAAP web (loss) earnings |
(763,890) |
645 |
95 |
(2,093,310) |
93,188 |
13,911 |
|||||||||||||||||
SOURCE Gaotu Techedu Inc.
