BEIJING, Jan. 23, 2025 /PRNewswire/ — TAL Education Group (NYSE: TAL) (“TAL” or the “Company”), a smart learning solutions provider in China, today announced its unaudited financial results for the third quarter of fiscal year 2025 ended November 30, 2024.
Highlights for the Third Quarter of Fiscal Year 2025
Net revenues were US$606.4 million, compared to net revenues of US$373.5 million in the same period of the prior year.Loss from operations was US$17.4 million, compared to loss from operations of US$32.2 million in the same period of the prior year.Non-GAAP loss from operations, which excluded share-based compensation expenses, was US$1.9 million, compared to non-GAAP loss from operations of US$10.2 million in the same period of the prior year.Net income attributable to TAL was US$23.1 million, compared to net loss attributable to TAL of US$23.9 million in the same period of the prior year.Non-GAAP net income attributable to TAL, which excluded share-based compensation expenses, was US$38.6 million, compared to non-GAAP net loss attributable to TAL of US$1.9 million in the same period of the prior year.Basic and diluted net income per American Depositary Share (“ADS”) were both US$0.04. Non-GAAP basic and diluted net income per ADS, which excluded share-based compensation expenses, were both US$0.06. Three ADSs represent one Class A common share.Cash, cash equivalents and short-term investments totaled US$3,835.8 million as of November 30, 2024, compared to US$3,303.3 million as of February 29, 2024.
Highlights for the Nine Months Ended November 30, 2024
Net revenues were US$1,640.0 million, compared to net revenues of US$1,060.9 million in the same period of the prior year.Income from operations was US$12.9 million, compared to loss from operations of US$58.2 million in the same period of the prior year.Non-GAAP income from operations, which excluded share-based compensation expenses, was US$63.5 million, compared to non-GAAP income from operations of US$10.2 million in the same period of the prior year.Net income attributable to TAL was US$91.9 million, compared to net loss attributable to TAL of US$31.1 million in the same period of the prior year.Non-GAAP net income attributable to TAL, which excluded share-based compensation expenses, was US$142.5 million, compared to non-GAAP net income attributable to TAL of US$37.3 million in the same period of the prior year.Basic and diluted net income per ADS were both US$0.15. Non-GAAP basic net income per ADS, which excluded share-based compensation expenses, was US$0.24, and Non-GAAP diluted net income per ADS, which excluded share-based compensation expenses, was US$0.23.
Financial Data——Third Quarter and First Nine Months of Fiscal Year 2025
(In US$ thousands, except per ADS data and percentages)
Three Months Ended
November 30,
2023
2024
Pct. Change
Net revenues
373,506
606,446
62.4 %
Loss from operations
(32,185)
(17,432)
(45.8 %)
Non-GAAP loss from operations
(10,184)
(1,920)
(81.1 %)
Net (loss)/income attributable to TAL
(23,946)
23,069
(196.3 %)
Non-GAAP net (loss)/income attributable to TAL
(1,945)
38,581
(2,083.6 %)
Net (loss)/income per ADS attributable to TAL –
basic
(0.04)
0.04
(195.5 %)
Net (loss)/income per ADS attributable to TAL –
diluted
(0.04)
0.04
(194.1 %)
Non-GAAP net (loss)/income per ADS attributable
to TAL – basic
(0.00)
0.06
(2,066.2 %)
Non-GAAP net (loss)/income per ADS attributable
to TAL – diluted
(0.00)
0.06
(2,037.0 %)
Nine Months Ended
November 30,
2023
2024
Pct. Change
Net revenues
1,060,877
1,639,994
54.6 %
(Loss)/income from operations
(58,168)
12,860
(122.1 %)
Non-GAAP income from operations
10,229
63,476
520.5 %
Net (loss)/income attributable to TAL
(31,081)
91,902
(395.7 %)
Non-GAAP net income attributable to TAL
37,316
142,518
281.9 %
Net (loss)/income per ADS attributable to TAL –
basic
(0.05)
0.15
(399.0 %)
Net (loss)/income per ADS attributable to TAL –
diluted
(0.05)
0.15
(394.1 %)
Non-GAAP net income per ADS attributable to
TAL – basic
0.06
0.24
286.2 %
Non-GAAP net income per ADS attributable to
TAL – diluted
0.06
0.23
286.3 %
“We achieved healthy year-on-year revenue growth this quarter. Our AI learning devices remained one of our faster-growing business lines and received encouraging user feedback and market recognition,” said Alex Peng, TAL’s President & Chief Financial Officer.
“We will continue to enhance our products’ capabilities and adaptability across learning services and content solutions. As always, we are committed to helping more users discover learning solutions that meet their unique needs while also contributing positively to society.”
Financial Results for the Third Quarter of Fiscal Year 2025
Net Revenues
In the third quarter of fiscal year 2025, TAL reported net revenues of US$606.4 million, representing a 62.4% increase from US$373.5 million in the third quarter of fiscal year 2024.
Operating Costs and Expenses
In the third quarter of fiscal year 2025, operating costs and expenses were US$624.7 million, representing a 53.9% increase from US$405.8 million in the third quarter of fiscal year 2024. Non-GAAP operating costs and expenses, which excluded share-based compensation expenses, were US$609.2 million, representing a 58.7% increase from US$383.8 million in the third quarter of fiscal year 2024.
Cost of revenues increased by 65.5% to US$286.7 million from US$173.2 million in the third quarter of fiscal year 2024. Non-GAAP cost of revenues, which excluded share-based compensation expenses, increased by 67.2% to US$285.4 million, from US$170.7 million in the third quarter of fiscal year 2024.
Selling and marketing expenses increased by 85.6% to US$226.4 million from US$122.0 million in the third quarter of fiscal year 2024. Non-GAAP selling and marketing expenses, which excluded share-based compensation expenses, increased by 91.0% to US$222.4 million, from US$116.4 million in the third quarter of fiscal year 2024.
General and administrative expenses increased by 0.8% to US$111.5 million from US$110.7 million in the third quarter of fiscal year 2024. Non-GAAP general and administrative expenses, which excluded share-based compensation expenses, increased by 4.8% to US$101.4 million, from US$96.7 million in the third quarter of fiscal year 2024.
Total share-based compensation expenses allocated to the related operating costs and expenses decreased by 29.5% to US$15.5 million in the third quarter of fiscal year 2025 from US$22.0 million in the same period of fiscal year 2024.
Gross Profit
Gross profit increased by 59.6% to US$319.8 million from US$200.3 million in the third quarter of fiscal year 2024.
(Loss)/Income from Operations
Loss from operations was US$17.4 million in the third quarter of fiscal year 2025, compared to loss from operations of US$32.2 million in the third quarter of fiscal year 2024. Non-GAAP loss from operations, which excluded share-based compensation expenses, was US$1.9 million, compared to Non-GAAP loss from operations of US$10.2 million in the same period of the prior year.
Other Income, Net
Other income was US$18.2 million for the third quarter of fiscal year 2025, compared to other income of US$13.3 million in the third quarter of fiscal year 2024.
Impairment Loss on Long-term Investments
Impairment loss on long-term investments was nil for the third quarter of fiscal year 2025, compared to US$2.3 million for the third quarter of fiscal year 2024.
Income Tax (Expense)/Benefit
Income tax benefit was US$3.6 million in the third quarter of fiscal year 2025, compared to US$15.4 million of income tax expense in the third quarter of fiscal year 2024.
Net (Loss)/Income attributable to TAL Education Group
Net income attributable to TAL was US$23.1 million in the third quarter of fiscal year 2025, compared to net loss attributable to TAL of US$23.9 million in the third quarter of fiscal year 2024. Non-GAAP net income attributable to TAL, which excluded share-based compensation expenses, was US$38.6 million, compared to Non-GAAP net loss attributable to TAL of US$1.9 million in the third quarter of fiscal year 2024.
Basic and Diluted Net (Loss)/Income per ADS
Basic and diluted net income per ADS were both US$0.04 in the third quarter of fiscal year 2025. Non-GAAP basic and diluted net income per ADS, which excluded share-based compensation expenses, were both US$0.06 in the third quarter of fiscal year 2025.
Cash Flow
Net cash provided by operating activities for the third quarter of fiscal year 2025 was US$378.0 million.
Cash, Cash Equivalents, and Short-Term Investments
As of November 30, 2024, the Company had US$2,240.8 million of cash and cash equivalents and US$1,595.0 million of short-term investments, compared to US$2,208.7 million of cash and cash equivalents and US$1,094.6 million of short-term investments as of February 29, 2024.
Deferred Revenue
As of November 30, 2024, the Company’s deferred revenue balance was US$825.6 million, compared to US$428.3 million as of February 29, 2024.
Financial Results for the First Nine Months of Fiscal Year 2025
Net Revenues
For the first nine months of fiscal year 2025, TAL reported net revenues of US$1,640.0 million, representing a 54.6% increase from US$1,060.9 million in the first nine months of fiscal year 2024.
Operating Costs and Expenses
In the first nine months of fiscal year 2025, operating costs and expenses were US$1,628.8 million, representing a 44.1% increase from US$1,130.7 million in the first nine months of fiscal year 2024. Non-GAAP operating costs and expenses, which excluded share-based compensation expenses, were US$1,578.2 million, representing a 48.6% increase from US$1,062.3 million in the first nine months of fiscal year 2024.
Cost of revenues increased by 57.1% to US$757.3 million from US$482.1 million in the first nine months of fiscal year 2024. Non-GAAP cost of revenues, which excluded share-based compensation expenses, increased by 58.3% to US$751.9 million from US$475.1 million in the first nine months of fiscal year 2024.
Selling and marketing expenses increased by 58.0% to US$530.8 million from US$335.9 million in the first nine months of fiscal year 2024. Non-GAAP selling and marketing expenses, which excluded share-based compensation expenses, increased by 63.6% to US$518.4 million from US$316.8 million in the first nine months of fiscal year 2024.
General and administrative expenses increased by 9.0% to US$340.7 million from US$312.7 million in the first nine months of fiscal year 2024. Non-GAAP general and administrative expenses, which excluded share-based compensation expenses, increased by 13.9% to US$307.9 million from US$270.4 million in the first nine months of fiscal year 2024.
Total share-based compensation expenses allocated to the related operating costs and expenses decreased by 26.0% to US$50.6 million in the first nine months of fiscal year 2025 from US$68.4 million in the same period of fiscal year 2024.
Gross Profit
Gross profit increased by 52.5% to US$882.7 million from US$578.8 million in the first nine months of fiscal year 2024.
(Loss)/Income from Operations
Income from operations was US$12.9 million in the first nine months of fiscal year 2025, compared to loss from operations of US$58.2 million in the same period of the prior year. Non-GAAP income from operations, which excluded share-based compensation expenses, was US$63.5 million, compared to US$10.2 million Non-GAAP income from operations in the same period of the prior year.
Other Income, Net
Other income was US$51.8 million for the first nine months of fiscal year 2025, compared to other income of US$11.5 million in the same period of the prior year.
Impairment Loss on Long-term Investments
Impairment loss on long-term investments was US$8.7 million for the first nine months of fiscal year 2025, compared to US$33.0 million for the first nine months of fiscal year 2024.
Income Tax (Expense)/Benefit
Income tax expense was US$24.3 million in the first nine months of fiscal year 2025, compared to US$8.9 million of income tax expense in the first nine months of fiscal year 2024.
Net (Loss)/Income Attributable to TAL Education Group
Net income attributable to TAL was US$91.9 million in the first nine months of fiscal year 2025, compared to net loss attributable to TAL of US$31.1 million in the first nine months of fiscal year 2024. Non-GAAP net income attributable to TAL, which excluded share-based compensation expenses, was US$142.5 million, compared to US$37.3 million Non-GAAP net income attributable to TAL in the same period of the prior year.
Cash Flow
Net cash provided by operating activities for the first nine months of fiscal year 2025 was US$624.3 million.
Basic and Diluted Net (Loss)/Income per ADS
Basic and diluted net income per ADS were both US$0.15 in the first nine months of fiscal year 2025. Non-GAAP basic net income per ADS, which excluded share-based compensation expenses, was US$0.24, and Non-GAAP diluted net income per ADS, which excluded share-based compensation expenses, was US$0.23 in the first nine months of fiscal year 2025.
Conference Call
The Company will host a conference call and live webcast to discuss its financial results for the third fiscal quarter of fiscal year 2025 ended November 30, 2024 at 7:00 a.m. Eastern Time on January 23, 2025 (8:00 p.m. Beijing time on January 23, 2025).
Please note that you will need to pre-register for conference call participation at https://register.vevent.com/register/BI252a8b58f53a47cebdf55358dda997b1.
Upon registration, you will receive an email containing participant dial-in numbers and unique Direct Event Passcode. This information will allow you to gain immediate access to the call. Participants may pre-register at any time, including up to and after the call start time.
A live and archived webcast of the conference call will be available on the Investor Relations section of TAL’s website at https://ir.100tal.com/.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under 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,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, TAL Education Group’s strategic and operational plans contain forward-looking statements. The Company may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports 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 the Company’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: the Company’s ability to continue to provide competitive learning services and products; the Company’s ability to continue to recruit, train and retain talents; the Company’s ability to improve the content of current course offerings and develop new courses; the Company’s ability to maintain and enhance its brand; the Company’s ability to maintain and continue to improve its teaching results; and the Company’s ability to compete effectively against its competitors. Further information regarding these and other risks is included in the Company’s reports filed with, or furnished to the U.S. Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of this press release, and TAL Education Group undertakes no duty to update such information or any forward-looking statement, except as required under applicable law.
About TAL Education Group
TAL Education Group is a smart learning solutions provider in China. The acronym “TAL” stands for “Tomorrow Advancing Life”, which reflects our vision to promote top learning opportunities for students through both high-quality teaching and content, as well as leading edge application of technology in the education experience. TAL Education Group offers comprehensive learning solutions to students from all ages through diversified class formats. Our learning solutions mainly cover enrichment learnings programs and some academic subjects in and out of China. Our ADSs trade on the New York Stock Exchange under the symbol “TAL”.
About Non-GAAP Financial Measures
In evaluating its business, TAL 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 operating costs and expenses, non-GAAP cost of revenues, non-GAAP selling and marketing expenses, non-GAAP general and administrative expenses, non-GAAP income/(loss) from operations, non-GAAP net income/(loss) attributable to TAL, non-GAAP basic and non-GAAP diluted net income/(loss) 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 release.
TAL believes that these non-GAAP financial measures provide meaningful supplemental information regarding its performance and liquidity by excluding share-based expenses that may not be indicative of its operating performance from a cash perspective. TAL 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 TAL’s historical performance and liquidity. TAL computes its non-GAAP financial measures using the same consistent method from quarter to quarter and from period to period. TAL 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 charges that have been and will continue to be for the foreseeable future a significant recurring expense in the Company’s business. Management compensates for these limitations by providing specific information regarding the GAAP amounts excluded from each non-GAAP measure. The accompanying tables have more details on the reconciliations between GAAP financial measures that are most directly comparable to non-GAAP financial measures.
For further information, please contact:
Jackson Ding
Investor Relations
TAL Education Group
Tel: +86 10 5292 6669-8809
Email: ir@tal.com
TAL EDUCATION GROUP
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands of U.S. dollars)
As of
February 29,
2024
As of
November 30,
2024
ASSETS
Current assets
Cash and cash equivalents
$ 2,208,756
$ 2,240,827
Restricted cash-current
167,656
306,549
Short-term investments
1,094,593
1,595,027
Inventory
68,328
98,021
Amounts due from related parties-current
343
387
Prepaid expenses and other current assets
159,498
207,943
Total current assets
3,699,174
4,448,754
Restricted cash-non-current
81,064
41,078
Property and equipment, net
405,319
460,566
Deferred tax assets
4,620
5,165
Rental deposits
16,947
20,669
Intangible assets, net
1,988
964
Land use right, net
189,049
184,937
Amounts due from related parties-non-current
59
59
Long-term investments
284,266
276,254
Long-term prepayments and other non-current assets
14,359
28,055
Operating lease right-of-use assets
231,104
322,563
Total assets
$ 4,927,949
$ 5,789,064
LIABILITIES AND EQUITY
Current liabilities
Accounts payable
$ 127,321
$ 189,271
Deferred revenue-current
400,286
780,909
Amounts due to related parties-current
96
107
Accrued expenses and other current liabilities
491,911
625,274
Short-term debt
–
55,231
Operating lease liabilities, current portion
62,604
82,513
Total current liabilities
1,082,218
1,733,305
Deferred revenue-non-current
27,993
44,710
Deferred tax liabilities
2,360
4,040
Operating lease liabilities, non-current portion
176,614
243,346
Total liabilities
1,289,185
2,025,401
Equity
Class A common shares
152
154
Class B common shares
49
49
Additional paid-in capital
4,256,957
4,280,212
Statutory reserve
165,138
164,370
Accumulated deficit
(694,270)
(601,600)
Accumulated other comprehensive loss
(65,928)
(70,493)
Total TAL Education Group’s equity
3,662,098
3,772,692
Noncontrolling interests
(23,334)
(9,029)
Total equity
3,638,764
3,763,663
Total liabilities and equity
$ 4,927,949
$ 5,789,064
TAL EDUCATION GROUP
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands of U.S. dollars, except share, ADS, per share and per ADS data)
For the Three Months Ended
November 30,
For the Nine Months Ended
November 30,
2023
2024
2023
2024
Net revenues
$ 373,506
$ 606,446
$ 1,060,877
$ 1,639,994
Cost of revenues (note 1)
173,180
286,689
482,075
757,329
Gross profit
200,326
319,757
578,802
882,665
Operating expenses (note 1)
Selling and marketing
121,977
226,441
335,902
530,769
General and administrative
110,678
111,537
312,707
340,718
Total operating expenses
232,655
337,978
648,609
871,487
Government subsidies
144
789
11,639
1,682
(Loss)/income from operations
(32,185)
(17,432)
(58,168)
12,860
Interest income, net
20,076
21,491
64,033
64,410
Other income, net
13,324
18,150
11,511
51,767
Impairment loss on long-term
investments
(2,270)
–
(33,031)
(8,692)
(Loss)/income before income tax
(expense)/benefit and loss from
equity method investments
(1,055)
22,209
(15,655)
120,345
Income tax (expense)/benefit
(15,374)
3,582
(8,875)
(24,348)
Loss from equity method
investments
(7,644)
(2,765)
(6,936)
(4,337)
Net (loss)/income
(24,073)
23,026
(31,466)
91,660
Add: Net loss attributable to
noncontrolling interests
127
43
385
242
Total net (loss)/income
attributable to TAL
Education Group
$ (23,946)
$ 23,069
$ (31,081)
$ 91,902
Net (loss)/income per common
share
Basic
$ (0.12)
$ 0.11
$ (0.15)
$ 0.46
Diluted
(0.12)
0.11
(0.15)
0.45
Net (loss)/income per ADS (note
2)
Basic
$ (0.04)
$ 0.04
$ (0.05)
$ 0.15
Diluted
(0.04)
0.04
(0.05)
0.15
Weighted average shares used in
calculating net (loss)/income
per common share
Basic
200,134,875
201,905,486
204,020,823
201,746,602
Diluted
200,134,875
204,949,612
204,020,823
205,093,389
Note1: Share-based compensation expenses are included in the operating costs and expenses as follows:
For the Three Months
For the Nine Months
Ended November 30,
Ended November 30,
2023
2024
2023
2024
Cost of revenues
$ 2,499
$ 1,271
$ 6,989
$ 5,426
Selling and marketing expenses
5,558
4,082
19,120
12,410
General and administrative expenses
13,944
10,159
42,288
32,780
Total
$ 22,001
$ 15,512
$ 68,397
$ 50,616
Note 2: Three ADSs represent one Class A common Share.
TAL EDUCATION GROUP
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF
COMPREHENSIVE (LOSS)/INCOME
(In thousands of U.S. dollars)
For the Three Months Ended
November 30,
For the Nine Months Ended
November 30,
2023
2024
2023
2024
Net (loss)/income
$ (24,073)
$ 23,026
$ (31,466)
$ 91,660
Other comprehensive income/
(loss), net of tax
18,356
(21,512)
(26,239)
(4,348)
Comprehensive (loss)/income
(5,717)
1,514
(57,705)
87,312
Add: Comprehensive
loss/(income) attributable to
noncontrolling interests
557
(2,308)
(356)
25
Comprehensive (loss)/income
attributable to TAL
Education Group
$ (5,160)
$ (794)
$ (58,061)
$ 87,337
TAL EDUCATION GROUP
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF
CASH FLOWS
(In thousands of U.S. dollars)
For the Three Months Ended
November 30,
For the Nine Months Ended
November 30,
2023
2024
2023
2024
Net cash provided by operating
activities
$ 247,123
$ 378,038
$ 329,918
$ 624,255
Net cash (used in)/provided by
investing activities
(208,847)
(214,435)
133,955
(532,739)
Net cash provided by/(used in)
financing activities
207
48,731
(233,301)
41,937
Effect of exchange rate
changes
6,805
(4,834)
(3,111)
(2,475)
Net increase in cash, cash
equivalents and restricted
cash
45,288
207,500
227,461
130,978
Cash, cash equivalents and
restricted cash at the
beginning of period
2,477,080
2,380,954
2,294,907
2,457,476
Cash, cash equivalents and
restricted cash at the end
of period
$ 2,522,368
$ 2,588,454
$ 2,522,368
$ 2,588,454
TAL EDUCATION GROUP
Reconciliation of Non-GAAP Measures to the Most Comparable GAAP Measures
(In thousands of U.S. dollars, except share, ADS, per share and per ADS data)
For the Three Months
Ended November 30,
For the Nine Months
Ended November 30,
2023
2024
2023
2024
Cost of revenues
$ 173,180
$ 286,689
$ 482,075
$ 757,329
Share-based compensation expense in
cost of revenues
2,499
1,271
6,989
5,426
Non-GAAP cost of revenues
170,681
285,418
475,086
751,903
Selling and marketing expenses
121,977
226,441
335,902
530,769
Share-based compensation expense in
selling and marketing expenses
5,558
4,082
19,120
12,410
Non-GAAP selling and marketing
expenses
116,419
222,359
316,782
518,359
General and administrative expenses
110,678
111,537
312,707
340,718
Share-based compensation expense in
general and administrative expenses
13,944
10,159
42,288
32,780
Non-GAAP general and
administrative expenses
96,734
101,378
270,419
307,938
Operating costs and expenses
405,835
624,667
1,130,684
1,628,816
Share-based compensation expense in
operating costs and expenses
22,001
15,512
68,397
50,616
Non-GAAP operating costs and
expenses
383,834
609,155
1,062,287
1,578,200
(Loss)/income from operations
(32,185)
(17,432)
(58,168)
12,860
Share based compensation expenses
22,001
15,512
68,397
50,616
Non-GAAP (loss)/income from
operations
(10,184)
(1,920)
10,229
63,476
Net (loss)/income attributable to
TAL Education Group
(23,946)
23,069
(31,081)
91,902
Share based compensation expenses
22,001
15,512
68,397
50,616
Non-GAAP net (loss)/income
attributable to TAL Education
Group (note 3)
$ (1,945)
$ 38,581
$ 37,316
$ 142,518
Net (loss)/income per ADS
Basic
$ (0.04)
$ 0.04
$ (0.05)
$ 0.15
Diluted
(0.04)
0.04
(0.05)
0.15
Non-GAAP net (loss)/income per ADS
Basic
$ (0.00)
$ 0.06
$ 0.06
$ 0.24
Diluted
(0.00)
0.06
0.06
0.23
ADSs used in calculating net (loss)/income per ADS
Basic
600,404,625
605,716,458
612,062,469
605,239,806
Diluted
600,404,625
614,848,836
612,062,469
615,280,167
ADSs used in calculating Non-GAAP net (loss)/income per ADS
Basic
600,404,625
605,716,458
612,062,469
605,239,806
Diluted
600,404,625
614,848,836
622,332,267
615,280,167
Note 3: The tax effect of share-based compensation expenses was immaterial in the third quarter and in the first nine months of fiscal year 2025.
View original content:https://www.prnewswire.com/news-releases/tal-education-group-announces-unaudited-financial-results-for-the-third-fiscal-quarter-ended-november-30-2024-302358389.html
SOURCE TAL Education Group
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