Youdao Stories Third Quarter 2022 Unaudited Monetary Outcomes

HANGZHOU, China, Nov. 17, 2022 /PRNewswire/ — Youdao, Inc. (“Youdao” or the “Firm”) (NYSE: DAO), a number one technology-focused clever studying firm in China, immediately introduced its unaudited monetary outcomes for the third quarter ended September 30, 2022.

Third Quarter 2022 Monetary Highlights[1]

• Whole web revenues had been RMB1.Four billion (US$197.2 million), representing a 35.0% improve from the identical interval in 2021.
  – Internet revenues from studying companies had been RMB888.5 million (US$124.9 million), representing a 37.2% improve from the identical interval in 2021.
  – Internet revenues from sensible gadgets had been RMB356.5 million (US$50.1 million), representing a 40.1% improve from the identical interval in 2021.
  – Internet revenues from on-line advertising and marketing companies had been RMB157.5 million (US$22.1 million), representing a 14.9% improve from the identical interval in 2021.
• Gross margin was 54.2%, in comparison with 52.6% for a similar interval in 2021.

“We achieved record-high revenues of RMB1.Four billion in Q3, up 35.0% year-over-year, primarily as a consequence of our steady innovation in studying companies and sensible gadgets. For the reason that starting of this 12 months, we’ve launched 5 new sensible gadgets for numerous shopper studying eventualities. The success of our newly-designed merchandise, such because the Youdao Dictionary Pen X5 and Youdao Sensible Studying Pad, has infused confidence in our potential to generate return on funding by way of steady innovation. We assist our clients be taught even higher by way of extra modern services,” stated Dr. Feng Zhou, Chief Government Officer and a Director of Youdao.

“Our transition from regulatory modifications final 12 months is usually completed. Regardless of the various obstacles and the unsure macro surroundings, we’re seizing the larger image alternative to evolve and make developments in our firm that solidify our sustainable development over the long run,” Dr. Zhou concluded.

[1] As beforehand disclosed, in compliance with relevant regulatory necessities, the Firm had ceased to supply the after-school tutoring companies on educational topics in China’s obligatory schooling system (the “Tutorial AST Enterprise”) on the finish of December 2021. The Tutorial AST Enterprise met the factors of discontinued operations. Retrospective changes to the historic assertion of operations have additionally been made to offer a constant foundation of comparability for the monetary outcomes of the persevering with operations. The monetary info and non-GAAP monetary info included on this press launch is offered on a unbroken operations foundation, until in any other case particularly acknowledged.

Third Quarter 2022 Monetary Outcomes

Internet Revenues 

Internet revenues for the third quarter of 2022 had been RMB1.Four billion (US$197.2 million), representing a 35.0% improve from RMB1.Zero billion for a similar interval of 2021.

Internet revenues from studying companies had been RMB888.5 million (US$124.9 million) for the third quarter of 2022, representing a 37.2% improve from RMB647.5 million for a similar interval of 2021. The year-over-year development was primarily pushed by the sturdy gross sales efficiency from the brand new companies initiated after the implementation of the “Double Discount” Coverage.

Internet revenues from sensible gadgets had been RMB356.5 million (US$50.1 million) for the third quarter of 2022, representing a 40.1% improve from RMB254.5 million for a similar interval of 2021, primarily pushed by the recognition of Youdao’s newly launched merchandise, such because the Youdao Dictionary Pen X5.

Internet revenues from on-line advertising and marketing companies had been RMB157.5 million (US$22.1 million) for the third quarter of 2022, representing a 14.9% improve from RMB137.Zero million for a similar interval of 2021. The year-over-year improve in revenues from on-line advertising and marketing companies was primarily attributable to the rise in performance-based ads by way of third events’ web properties.

Gross Revenue and Gross Margin

Gross revenue for the third quarter of 2022 was RMB760.2 million (US$106.9 million), representing a 39.0% improve from RMB546.9 million for a similar interval of 2021. Gross margin elevated to 54.2% for the third quarter of 2022 from 52.6% for a similar interval of 2021.

Gross margin for studying companies was 64.5% for the third quarter of 2022, in contrast with 65.0% for a similar interval of 2021.

Gross margin for sensible gadgets elevated to 40.4% for the third quarter of 2022 from 33.7% for a similar interval of 2021. The development was primarily attributable to the recognition of Youdao’s newly launched Youdao Dictionary Pen X5, which carries a better gross margin than different merchandise.

Gross margin for on-line advertising and marketing companies was 27.1% for the third quarter of 2022, in contrast with 29.2% for a similar interval of 2021. The lower was primarily attributable to the rise in performance-based ads by way of third events’ web properties, which usually have a decrease gross margin profile.

Working Bills

Whole working bills for the third quarter of 2022 had been RMB979.2 million (US$137.7 million), in contrast with RMB772.6 million for a similar interval of final 12 months.

Gross sales and advertising and marketing bills for the third quarter of 2022 had been RMB709.Eight million (US$99.Eight million), representing a rise of 28.3% from RMB553.Four million for a similar interval of 2021. This improve was primarily pushed by growing gross sales and advertising and marketing efforts related to Youdao’s studying companies and sensible gadgets.

Analysis and improvement bills for the third quarter of 2022 had been RMB212.9 million (US$29.9 million), representing a rise of 30.1% from RMB163.6 million for a similar interval of 2021. The rise was primarily as a consequence of larger payroll-related bills related to a bigger variety of improvement and expertise professionals in sensible gadgets and schooling digitalization options.

Normal and administrative bills for the third quarter of 2022 had been RMB56.5 million (US$7.9 million), in contrast with RMB55.6 million for a similar interval of 2021.

Loss from Operations

Loss from operations for the third quarter of 2022 was RMB219.Zero million (US$30.Eight million), in contrast with RMB225.7 million for a similar interval in 2021. The margin of loss from operations was 15.6%, in contrast with 21.7% for a similar interval of final 12 months.

Internet Loss from Persevering with Operations Attributable to Youdao’s Atypical Shareholders

Internet loss from persevering with operations attributable to Youdao’s atypical shareholders for the third quarter of 2022 was RMB183.9 million (US$25.9 million), in contrast with RMB225.Three million for a similar interval of final 12 months. Non-GAAP web loss from persevering with operations attributable to Youdao’s atypical shareholders for the third quarter of 2022 was RMB164.Four million (US$23.1 million), in contrast with RMB200.2 million for a similar interval of final 12 months.

Fundamental and diluted web loss per American depositary shares (“ADSs”) of the Firm from persevering with operations attributable to atypical shareholders for the third quarter of 2022 was RMB1.49 (US$0.21), in contrast with RMB1.84 for a similar interval of 2021. Non-GAAP primary and diluted web loss from persevering with operations per ADS attributable to atypical shareholders was RMB1.33 (US$0.19), in contrast with RMB1.63 for a similar interval of 2021.

Stability Sheet

As of September 30, 2022, Youdao’s money, money equivalents, restricted money, time deposits and short-term investments totaled RMB953.1 million (US$134.Zero million), in contrast with RMB1.6 billion as of December 31, 2021. For the third quarter of 2022, web money utilized in persevering with working actions was RMB294.1 million (US$41.Three million), capital expenditures totaled RMB12.7 million (US$1.Eight million), and depreciation and amortization bills amounted to RMB11.6 million (US$1.6 million). Youdao’s potential to proceed as a going concern relies on administration’s potential to implement an efficient marketing strategy in future intervals in mild of the altering regulatory surroundings, generate working money flows and proceed to have the ability to receive outdoors sources of financing as needed for Youdao’s future improvement. As of the date of this launch, Youdao has acquired numerous monetary assist from the NetEase Group, together with, amongst others, RMB878.Zero million short-term loans and US$70.Zero million long-term loans with maturity dated March 31, 2024 drawn down underneath the US$300.Zero million revolving mortgage facility.

As of September 30, 2022, the Firm’s contract liabilities, which primarily consisted of deferred revenues generated from Youdao’s studying companies, had been RMB996.5 million (US$140.1 million), in contrast with RMB1.1 billion as of December 31, 2021.

Share Repurchase Program

The Firm immediately additionally introduced that its board of administrators has approved the Firm to undertake a share repurchase program within the close to future in accordance with relevant legal guidelines and rules for as much as US$20 million of its Class A atypical shares (together with within the type of ADSs) throughout a interval of as much as 36 months.

Repurchases underneath the Firm’s share repurchase program, if adopted, could also be made every so often on the open market at prevailing market costs, in open-market transactions, privately negotiated transactions or block trades, and/or by way of different legally permissible means, relying on market circumstances and in accordance with the relevant guidelines and rules. The timing and circumstances of the share repurchases will likely be topic to numerous components together with the necessities underneath Rule 10b-18 and Rule 10b5-1 of the Securities Change Act of 1934, as amended.

Convention Name

Youdao’s administration staff will host a teleconference name with simultaneous webcast at 5:00 a.m. Japanese Time on Thursday, November 17, 2022 (Beijing/Hong Kong Time: 6:00 p.m., Thursday, November 17, 2022). 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:	7502413

A reside and archived webcast of the convention name will likely be accessible 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 reside name on the following numbers, till November 24, 2022:

United States:	+1-877-344-7529
Worldwide:	+1-412-317-0088
Replay Entry Code:	7502413

About Youdao, Inc. 

Youdao, Inc. (NYSE: DAO) is a number one technology-focused clever studying firm in China devoted to growing and utilizing applied sciences to offer studying content material, purposes and options to customers of all ages. Constructing on the recognition of its on-line data instruments reminiscent of Youdao Dictionary and Youdao Translation, Youdao now gives sensible gadgets, STEAM programs, grownup and vocational programs, and schooling digitalization options. As well as, Youdao has developed quite a lot of interactive studying apps. Youdao was based in 2006 as a part of NetEase, Inc. (NASDAQ: NTES; HKEX: 9999), a number one web expertise 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, reminiscent of non-GAAP web revenue/(loss) from persevering with operations attributable to the Firm’s atypical shareholders and non-GAAP primary and diluted revenue/(loss) from persevering with operations per ADS, as supplemental metrics in reviewing and assessing its working efficiency and formulating its marketing strategy. The presentation of non-GAAP monetary measures is just not supposed to be thought-about in isolation or as an alternative choice to the monetary info ready and offered in accordance with accounting rules usually accepted in the US of America (“U.S. GAAP”).

Youdao defines non-GAAP web revenue/(loss) from persevering with operations attributable to the Firm’s atypical shareholders as web revenue/(loss) from persevering with operations attributable to the Firm’s atypical shareholders excluding share-based compensation bills, amortization of intangible property from enterprise mixture, impairment of long-term investments, revenue tax results of above GAAP to non-GAAP reconciling gadgets, and adjustment for GAAP to non-GAAP reconciling gadgets for the revenue/(loss) attributable to noncontrolling pursuits. Non-GAAP web revenue/(loss) from persevering with operations attributable to the Firm’s shareholders allows Youdao’s administration to evaluate its working outcomes with out contemplating the affect of this stuff, that are non-cash costs in nature. Youdao believes that these non-GAAP monetary measures present helpful info to traders 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 should not outlined underneath U.S. GAAP and should not offered in accordance with U.S. GAAP. Non-GAAP monetary measures have limitations as analytical instruments, which probably don’t mirror all gadgets of expense that have an effect on our operations. As well as, the non-GAAP monetary measures Youdao makes use of might differ from the non-GAAP measures makes use of by different corporations, together with peer corporations, and due to this fact their comparability could also be restricted.

The presentation of those non-GAAP monetary measures is just not supposed to be thought-about 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 instantly corresponding to non-GAAP monetary measures. Youdao encourages you to evaluate its monetary info in its entirety and never depend on a single monetary measure.

Change Price Data

This announcement comprises translations of sure RMB quantities into U.S. {dollars} (“US$”) at specified charges solely for the comfort of the reader. Until in any other case acknowledged, all translations from RMB to US$ had been made on the charge of RMB7.1135 to US$1.00, the alternate charge on September 30, 2022 set forth within the H.10 statistical launch of the Federal Reserve Board. The Firm makes no illustration that the RMB or US$ quantities referred might be transformed into US$ or RMB, because the case could also be, at any specific charge or in any respect.

Secure Harbor Assertion

This press launch comprises forward-looking statements. These statements are made underneath 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 quite a lot of components may trigger precise outcomes to vary materially from these contained in any forward-looking assertion. In some instances, forward-looking statements might be recognized by phrases or phrases reminiscent of “might,” “will,” “anticipate,” “anticipate,” “goal,” “intention,” “estimate,” “intend,” “plan,” “imagine,” “potential,” “proceed,” “is/are more likely to” or different comparable expressions. The Firm may additionally make written or oral forward-looking statements in its stories filed with, or furnished to, the U.S. Securities and Change Fee, in its annual stories 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 components is included within the Firm’s filings with the SEC. All info supplied 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 underneath relevant legislation.

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 the US:
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 September 30,		As of September 30,
		2021		2022		2022
		RMB		RMB		USD (1)
Belongings
Present property:
Money and money equivalents		322,777		712,115		100,108
Time deposits		268		273		38
Restricted money		749,770		219,456		30,851
Quick-term investments		503,831		21,215		2,982
Accounts receivable, web		248,339		332,331		46,718
Inventories, web		255,411		170,393		23,953
Quantities due from NetEase Group		6,192		7,388		1,039
Prepayment and different present property		182,577		212,605		29,888
Belongings held on the market		497		–		–
Whole present property		2,269,662		1,675,776		235,577
Non-current property:
Property, tools and software program, web		80,315		104,884		14,744
Working lease right-of-use property, web		118,104		80,822		11,362
Lengthy-term investments		32,518		67,032		9,423
Goodwill		109,944		109,944		15,456
Different property, web		22,436		38,288		5,382
Belongings held on the market		1,088		–		–
Whole non-current property		364,405		400,970		56,367
Whole property		2,634,067		2,076,746		291,944
Liabilities, Mezzanine Fairness and Shareholders’ Deficit
Present liabilities:
Accounts payables		161,006		179,756		25,270
Payroll payable		277,383		176,003		24,742
Quantities as a consequence of NetEase Group		83,041		74,476		10,470
Contract liabilities		1,065,639		996,535		140,091
Taxes payable		53,323		52,889		7,435
Accrued liabilities and different payables		515,567		626,256		88,038
Quick-term loans from NetEase Group		878,000		878,000		123,427
Whole present liabilities		3,033,959		2,983,915		419,473
Non-current liabilities:
Lengthy-term lease liabilities		73,070		43,476		6,112
Lengthy-term loans from NetEase Group		255,028		496,986		69,865
Different non-current liabilities		2,411		17,604		2,475
Whole non-current liabilities		330,509		558,066		78,452
Whole liabilities		3,364,468		3,541,981		497,925
Mezzanine fairness		78,592		72,959		10,256
Shareholders’ deficit:
Youdao’s shareholders’ deficit		(807,067)		(1,532,313)		(215,410)
Noncontrolling pursuits		(1,926)		(5,881)		(827)
Whole shareholders’ deficit		(808,993)		(1,538,194)		(216,237)
Whole liabilities, mezzanine fairness and shareholders’ deficit		2,634,067		2,076,746		291,944
Notice 1: The conversion of Renminbi (RMB) into United States {dollars} (USD) relies on the midday shopping for charge of USD1.00=RMB7.1135 on the final buying and selling day of September (September 30, 2022) as set forth within the H.10 statistical launch of the U.S. Federal Reserve Board.

YOUDAO, INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(RMB and USD in 1000’s, besides share and per ADS knowledge)
		Three Months Ended								9 Months Ended
		September 30,		June 30,		September 30,		September 30,		September 30,		September 30,
		2021		2022		2022		2022		2021		2022
		RMB		RMB		RMB		USD (1)		RMB		RMB
Internet revenues:
Studying companies		647,522		563,601		888,493		124,902		1,862,162		2,278,105
Sensible gadgets		254,513		239,850		356,480		50,113		662,722		849,490
On-line advertising and marketing companies		137,040		152,774		157,461		22,136		442,113		431,605
Whole web revenues		1,039,075		956,225		1,402,434		197,151		2,966,997		3,559,200
Price of revenues (2)		(492,176)		(546,498)		(642,254)		(90,287)		(1,423,452)		(1,747,471)
Gross revenue		546,899		409,727		760,180		106,864		1,543,545		1,811,729
Working bills:
Gross sales and advertising and marketing bills (2)		(553,407)		(595,997)		(709,769)		(99,778)		(1,657,201)		(1,812,151)
Analysis and improvement bills (2)		(163,627)		(208,411)		(212,926)		(29,933)		(437,128)		(624,317)
Normal and administrative bills (2)		(55,612)		(60,532)		(56,520)		(7,944)		(144,185)		(174,613)
Whole working bills		(772,646)		(864,940)		(979,215)		(137,655)		(2,238,514)		(2,611,081)
Loss from operations		(225,747)		(455,213)		(219,035)		(30,791)		(694,969)		(799,352)
Curiosity revenue		5,959		3,769		4,033		567		15,768		9,836
Curiosity expense		(7,835)		(10,102)		(12,277)		(1,726)		(23,216)		(30,964)
Others, web		614		1,567		40,058		5,631		24,334		77,678
Loss earlier than tax		(227,009)		(459,979)		(187,221)		(26,319)		(678,083)		(742,802)
Revenue tax (expense)/profit		(2,590)		(553)		1,108		156		(7,204)		(11)
Internet loss from persevering with operations		(229,599)		(460,532)		(186,113)		(26,163)		(685,287)		(742,813)
Internet revenue/(loss) from discontinued operations		96,447		–		–		–		(299,557)		(6,105)
Internet loss		(133,152)		(460,532)		(186,113)		(26,163)		(984,844)		(748,918)
Internet loss attributable to noncontrolling pursuits		4,254		6,646		2,194		308		5,802		9,588
Internet loss attributable to atypical shareholders of the Firm		(128,898)		(453,886)		(183,919)		(25,855)		(979,042)		(739,330)
Together with:
Internet loss from persevering with operations attributable to atypical shareholders of the Firm		(225,345)		(453,886)		(183,919)		(25,855)		(679,485)		(733,225)
Internet revenue/(loss) from discontinued operations attributable to atypical shareholders of the Firm		96,447		–		–		–		(299,557)		(6,105)
Fundamental web (loss)/revenue per ADS		(1.05)		(3.67)		(1.49)		(0.21)		(8.08)		(5.98)
-Persevering with operations		(1.84)		(3.67)		(1.49)		(0.21)		(5.61)		(5.93)
-Discontinued operations		0.79		–		–		–		(2.47)		(0.05)
Diluted web (loss)/revenue per ADS		(1.05)		(3.67)		(1.49)		(0.21)		(8.08)		(5.98)
-Persevering with operations		(1.84)		(3.67)		(1.49)		(0.21)		(5.61)		(5.93)
-Discontinued operations		0.79		–		–		–		(2.47)		(0.05)
Shares utilized in computing primary web (loss)/revenue per ADS		122,715,264		123,703,353		123,767,013		123,767,013		121,131,136		123,602,039
Shares utilized in computing diluted web (loss)/revenue per ADS		122,715,264		123,703,353		123,767,013		123,767,013		121,131,136		123,602,039
Notice 1: The conversion of Renminbi (RMB) into United States {dollars} (USD) relies on the midday shopping for charge of USD1.00=RMB7.1135 on the final buying and selling day of September (September 30, 2022) as set forth within the H.10 statistical launch of the U.S. Federal Reserve Board.
Notice 2:
Share-based compensation in every class:
Price of revenues		1,356		1,775		798		112		4,613		4,753
Gross sales and advertising and marketing bills		2,678		3,451		2,879		405		7,721		9,420
Analysis and improvement bills		7,641		8,428		7,586		1,066		25,040		24,876
Normal and administrative bills		5,984		4,448		4,801		675		14,594		14,633

YOUDAO, INC.
UNAUDITED ADDITIONAL INFORMATION
(RMB and USD in 1000’s)
		Three Months Ended								9 Months Ended
		September 30,		June 30,		September 30,		September 30,		September 30,		September 30,
		2021		2022		2022		2022		2021		2022
		RMB		RMB		RMB		USD		RMB		RMB
Internet revenues
Studying companies		647,522		563,601		888,493		124,902		1,862,162		2,278,105
Sensible gadgets		254,513		239,850		356,480		50,113		662,722		849,490
On-line advertising and marketing companies		137,040		152,774		157,461		22,136		442,113		431,605
Whole web revenues		1,039,075		956,225		1,402,434		197,151		2,966,997		3,559,200
Price of revenues
Studying companies		226,543		269,491		315,086		44,294		699,267		882,874
Sensible gadgets		168,637		166,503		212,365		29,854		399,222		546,672
On-line advertising and marketing companies		96,996		110,504		114,803		16,139		324,963		317,925
Whole price of revenues		492,176		546,498		642,254		90,287		1,423,452		1,747,471
Gross margin
Studying companies		65.0 %		52.2 %		64.5 %		64.5 %		62.4 %		61.2 %
Sensible gadgets		33.7 %		30.6 %		40.4 %		40.4 %		39.8 %		35.6 %
On-line advertising and marketing companies		29.2 %		27.7 %		27.1 %		27.1 %		26.5 %		26.3 %
Whole gross margin		52.6 %		42.8 %		54.2 %		54.2 %		52.0 %		50.9 %

YOUDAO, INC.
UNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS
(RMB and USD in 1000’s, besides per ADS knowledge)
		Three Months Ended								9 Months Ended
		September 30,		June 30,		September 30,		September 30,		September 30,		September 30,
		2021		2022		2022		2022		2021		2022
		RMB		RMB		RMB		USD		RMB		RMB
Internet loss from persevering with operations attributable to atypical shareholders of the Firm		(225,345)		(453,886)		(183,919)		(25,855)		(679,485)		(733,225)
Add: share-based compensation		17,659		18,102		16,064		2,258		51,968		53,682
amortization of intangible property from enterprise mixture		996		–		–		–		996		–
impairment of long-term investments		7,000		–		3,500		492		7,000		8,500
Much less: tax results on non-GAAP changes		(149)		–		–		–		(149)		–
GAAP to non-GAAP reconciling gadgets for the loss attributable to          noncontrolling pursuits		(381)		–		–		–		(381)		–
Non-GAAP web loss from persevering with operations attributable to atypical shareholders of the Firm		(200,220)		(435,784)		(164,355)		(23,105)		(620,051)		(671,043)
Non-GAAP primary web loss from persevering with operations per ADS		(1.63)		(3.52)		(1.33)		(0.19)		(5.12)		(5.43)
Non-GAAP diluted web loss from persevering with operations per ADS		(1.63)		(3.52)		(1.33)		(0.19)		(5.12)		(5.43)

SOURCE Youdao, Inc.