BEIJING, Feb. 26, 2025 /PRNewswire/ — Gaotu Techedu Inc. (NYSE: GOTU) (“Gaotu” or the “Company”), a technology-driven education company and online large-class tutoring service provider in China, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2024.
Fourth Quarter 2024 Highlights[1]
Net revenues were RMB1,388.6 million, increased by 82.5% from RMB761.0 million in the same period of 2023.Gross billings[2] were RMB2,160.2 million, increased by 69.0% from RMB1,278.1 million in the same period of 2023.Loss from operations was RMB149.3 million, compared with loss from operations of RMB187.9 million in the same period of 2023.Net loss was RMB135.8 million, compared with net loss of RMB119.6 million in the same period of 2023.Non-GAAP net loss was RMB123.5 million, compared with non-GAAP net loss of RMB104.0 million in the same period of 2023.Net operating cash inflow was RMB783.6 million, increased by 59.4% from RMB491.5 million in the same period of 2023.
Fourth Quarter 2024 Key Financial and Operating Data
(In thousands of RMB, except for percentages)
For the three months ended December 31,
2023
2024
Pct. Change
Net revenues
761,014
1,388,621
82.5 %
Gross billings
1,278,132
2,160,179
69.0 %
Loss from operations
(187,915)
(149,274)
(20.6) %
Net loss
(119,649)
(135,834)
13.5 %
Non-GAAP net loss
(103,970)
(123,541)
18.8 %
Net operating cash inflow
491,493
783,643
59.4 %
[1] For a reconciliation of non-GAAP numbers, please see the table captioned “Reconciliations of non-GAAP measures to the most comparable GAAP measures” at the end of this press release. Non-GAAP income (loss) from operations and non-GAAP net income (loss) exclude share-based compensation expenses.
[2] Gross billings is a non-GAAP financial measure, which is defined as the total amount of cash received for the sale of course offerings in such period, net of the total amount of refunds in such period. See “About Non-GAAP Financial Measures” and “Reconciliations of non-GAAP measures to the most comparable GAAP measures” elsewhere in this press release.
Fiscal Year Ended December 31, 2024 Highlights
Net revenues were RMB4,553.6 million, increased by 53.8% from RMB2,960.8 million in the same period of 2023.Gross billings were RMB5,612.4 million, increased by 68.1% from RMB3,338.8 million in the same period of 2023.Loss from operations was RMB1,181.8 million, compared with loss from operations of RMB149.0 million in the same period of 2023.Net loss was RMB1,049.0 million, compared with net loss of RMB7.3 million in the same period of 2023.Non-GAAP net loss was RMB995.7 million, compared with non-GAAP net income of RMB51.1 million in the same period of 2023.Net operating cash inflow was RMB258.0 million, compared with net operating cash inflow of RMB353.7 million in the same period of 2023.
Fiscal Year 2024 Key Financial and Operating Data
(In thousands of RMB, except for percentages)
Fiscal Year ended December 31,
2023
2024
Pct. Change
Net revenues
2,960,813
4,553,556
53.8 %
Gross billings
3,338,750
5,612,390
68.1 %
Loss from operations
(149,006)
(1,181,833)
693.1 %
Net loss
(7,298)
(1,048,954)
14,273.2 %
Non-GAAP net income/(loss)
51,055
(995,737)
(2,050.3) %
Net operating cash inflow
353,697
258,007
(27.1) %
Larry Xiangdong Chen, the Company’s founder, Chairman and CEO, commented, “Driven by our dual pillars of strategic focus and organizational capability enhancement, we have significantly elevated the value delivered to our customers. In the fourth quarter, net revenues increased by 82.5% year-over-year to nearly RMB1.4 billion, while gross billings surged 69.0% to over RMB2.1 billion. Loss from operations narrowed by 20.6%, with operating margin improving by 13.9 percentage points, demonstrating our continued progress in profitability and tangible impact of our efficiency-driven initiatives. Our ample cash reserves, with net operating cash inflow of RMB783.6 million this quarter, provide a solid foundation for future strategic plans and long-term sustainable growth.
Notably, the evolution of AI technologies, represented by DeepSeek and other large-scale models, strongly aligns with our AI strategy and has significantly accelerated our advancements in learning effectiveness and organizational performance. We firmly believe that AI will have a profound and far-reaching impact on the education industry, reshaping the future learning experience. We will also spare no effort in actively promoting the deep integration of AI technologies with education, steadfastly advancing toward the essence of education—personalized, adaptive learning and tailored educational agent for every individual.”
Shannon Shen, CFO of the Company, added, “In 2024, our company achieved key strategic milestones. For the full year, net revenues increased by 53.8% year-over-year to approximately RMB4.6 billion, while gross billings grew by 68.1% year-over-year to over RMB5.6 billion. As of December 31st, 2024, our total cash position—including cash and cash equivalents, restricted cash, and short and long-term investments—stood at RMB4.1 billion. Excluding the impact of share repurchases, our cash reserves increased by RMB183.9 million compared to the end of 2023. As our business scales rapidly, we have implemented flexible and dynamic resource allocation mechanisms to steer the Company towards sustainable growth, and further strengthening the competitive edge of our core operations.
Looking ahead, leveraging cutting-edge AI technologies alongside a diverse product portfolio, rich learning scenarios and comprehensive learning solutions, we are committed to becoming the most trusted partner on every learner’s journey, driving high-quality development across the board.”
Financial Results for the Fourth Quarter of 2024
Net Revenues
Net revenues increased by 82.5% to RMB1,388.6 million from RMB761.0 million in the fourth quarter of 2023, which was mainly due to the continuous year-over-year growth of gross billings as a result of our sufficient and effective response to strong market demand. Furthermore, our high-quality educational products and learning services resulted in improved recognition of our product and service offerings.
Cost of Revenues
Cost of revenues increased by 93.4% to RMB440.3 million from RMB227.7 million in the fourth quarter of 2023. The increase was mainly due to expansion of instructors and tutors workforce, growing rental cost, as well as an increased cost of learning materials.
Gross Profit and Gross Margin
Gross profit increased by 77.8% to RMB948.3 million from RMB533.3 million in the fourth quarter of 2023. Gross profit margin decreased to 68.3% from 70.1% in the same period of 2023.
Non-GAAP gross profit increased by 77.0% to RMB950.8 million from RMB537.2 million in the fourth quarter of 2023. Non-GAAP gross profit margin decreased to 68.5% from 70.6% in the same period of 2023.
Operating Expenses
Operating expenses increased by 52.2% to RMB1,097.6 million from RMB721.2 million in the fourth quarter of 2023. The increase was primarily due to the expansion of employees workforce and a higher expenditure on marketing and branding activities.
Selling expenses increased to RMB736.2 million from RMB465.7 million in the fourth quarter of 2023.Research and development expenses increased to RMB145.1 million from RMB136.0 million in the fourth quarter of 2023.General and administrative expenses increased to RMB216.4 million from RMB119.5 million in the fourth quarter of 2023.
Loss from Operations
Loss from operations was RMB149.3 million, compared with loss from operations of RMB187.9 million in the fourth quarter of 2023.
Non-GAAP loss from operations was RMB137.0 million, compared with non-GAAP loss from operations of RMB172.2 million in the fourth quarter of 2023.
Interest Income and Realized Gains from Investments
Interest income and realized gains from investments, on aggregate, were RMB19.8 million, compared with a total of RMB23.9 million in the fourth quarter of 2023.
Other (Expenses)/Income, net
Other expenses, net was RMB6.4 million, compared with other income, net of RMB32.8 million in the fourth quarter of 2023.
Net Loss
Net loss was RMB135.8 million, compared with net loss of RMB119.6 million in the fourth quarter of 2023.
Non-GAAP net loss was RMB123.5 million, compared with non-GAAP net loss of RMB104.0 million in the fourth quarter of 2023.
Cash Flow
Net operating cash inflow in the fourth quarter of 2024 was RMB783.6 million.
Basic and Diluted Net Loss per ADS
Basic and diluted net loss per ADS were both RMB0.53 in the fourth quarter of 2024.
Non-GAAP basic and diluted net loss per ADS were both RMB0.49 in the fourth quarter of 2024.
Share Outstanding
As of December 31, 2024, the Company had 168,623,225 ordinary shares outstanding.
Cash, Cash Equivalents, Restricted Cash, Short-term and Long-term Investments
As of December 31, 2024, the Company had cash and cash equivalents, restricted cash, short-term and long-term investments of RMB4,094.3 million in aggregate, compared with a total of RMB3,953.5 million as of December 31, 2023.
Financial Results for the Fiscal Year of 2024
Net Revenues
Net revenues increased by 53.8% to RMB4,553.6 million from RMB2,960.8 million in 2023. The increase was mainly due to the growth of gross billings in 2024.
Cost of Revenues
Cost of revenues increased by 84.1% to RMB1,454.9 million from RMB790.2 million in 2023. The increase was mainly due to expansion of instructors and tutors workforce, growing rental cost, as well as an increased cost of learning materials.
Gross Profit and Gross Margin
Gross profit increased by 42.8% to RMB3,098.6 million from RMB2,170.6 million in 2023. Gross profit margin decreased to 68.0% from 73.3% in 2023.
Non-GAAP gross profit increased by 42.2% to RMB3,105.6 million from RMB2,183.6 million in 2023. Non-GAAP gross profit margin decreased to 68.2% from 73.7% in 2023.
Operating Expenses
Operating expenses increased by 84.5% to RMB4,280.5 million from RMB2,319.6 million in 2023. The increase was primarily due to the expansion of employees workforce and a higher expenditure on marketing and branding activities.
Selling expenses increased to RMB2,963.7 million from RMB1,501.2 million in 2023.Research and development expenses increased to RMB648.1 million from RMB462.0 million in 2023.General and administrative expenses increased to RMB668.7 million from RMB356.4 million in 2023.
Loss from Operations
Loss from operations was RMB1,181.8 million, compared with loss from operations of RMB149.0 million in 2023.
Non-GAAP loss from operations was RMB1,128.6 million, compared with non-GAAP loss from operations of RMB90.7 million in 2023.
Interest Income and Realized Gains from Investments
Interest income and realized gains from investments, on aggregate, were RMB95.7 million, compared with a total of RMB107.1 million in 2023.
Other Income, net
Other income, net was RMB45.8 million, compared with RMB54.5 million in 2023.
Net (Loss)/income
Net loss was RMB1,049.0 million, compared with net loss of RMB7.3 million in 2023.
Non-GAAP net loss was RMB995.7 million, compared with non-GAAP net income of RMB51.1 million in 2023.
Cash Flow
Net operating cash inflow in 2024 was RMB258.0 million.
Basic and Diluted Net Loss per ADS
Basic and diluted net loss per ADS were both RMB4.08 in 2024.
Non-GAAP basic and diluted net loss per ADS were both RMB3.87 in 2024.
Share Repurchase
In November 2022, the Company’s board of directors authorized a share repurchase program under which the Company may repurchase up to US$30 million of its shares, effective until November 22, 2025. In November 2023, the Company’s board of directors authorized modifications to the share repurchase program, increasing the aggregate value of shares that may be repurchased from US$30 million to US$80 million, effective until November 22, 2025.
As of February 21, 2025, the Company had cumulatively repurchased approximately 16.0 million ADSs for approximately US$47.5 million under the share repurchase program.
Business Outlook
Based on the Company’s current estimates, total net revenues for the first quarter of 2025 are expected to be between RMB1,408 million and RMB1,428 million, representing an increase of 48.7% to 50.8% on a year-over-year basis. These estimates reflect the Company’s current expectations, which are subject to change.
Conference Call
The Company will hold an earnings conference call at 8:00 AM U.S. Eastern Time on Wednesday, February 26, 2025 (9:00 PM Beijing/Hong Kong Time on Wednesday, February 26, 2025). Dial-in details for the earnings conference call are as follows:
International: 1-412-317-6061
United States: 1-888-317-6003
Hong Kong: 800-963-976
Mainland China: 400-120-6115
Passcode: 2778362
A telephone replay will be available two hours after the conclusion of the conference call through March 5, 2025. The dial-in details are:
International: 1-412-317-0088
United States: 1-877-344-7529
Passcode: 4036127
Additionally, a live and archived webcast of this conference call will be available at http://ir.gaotu.cn/.
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, the business outlook, as well as the Company’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 attract students to enroll in its courses; the Company’s ability to continue to recruit, train and retain qualified teachers; the Company’s ability to improve the content of its existing course offerings and to 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 the Company undertakes no duty to update such information or any forward-looking statement, except as required under applicable law.
About Gaotu Techedu Inc.
Gaotu is a technology-driven education company and online large-class tutoring service provider in China. The Company offers learning services and educational content & digitalized learning products. Gaotu adopts an online live large-class format to deliver its courses, which the Company believes is the most effective and scalable model to disseminate scarce high-quality teaching resources to aspiring students in China. Big data analytics permeates every aspect of the Company’s business and facilitates the application of the latest technology to improve teaching delivery, student learning experience, and operational efficiency.
About Non-GAAP Financial Measures
The Company uses gross billings, non-GAAP gross profit, non-GAAP income (loss) from operations and non-GAAP net income (loss), each a non-GAAP financial measure, in evaluating its operating results and for financial and operational decision-making purposes.
The Company defines gross billings for a specific period as the total amount of cash received for the sale of course offerings in such period, net of the total amount of refunds in such period. The Company’s management uses gross billings as a performance measurement because the Company generally bills its students for the entire course fee at the time of sale of its course offerings and recognizes revenue proportionally as the classes are delivered. For some courses, the Company continues to provide students with 12 months to 36 months access to the pre-recorded audio-video courses after the online live courses are delivered. The Company believes that gross billings provides valuable insight into the sales of its course packages and the performance of its business. As gross billings have material limitations as an analytical metrics and may not be calculated in the same manner by all companies, it may not be comparable to other similarly titled measures used by other companies.
Non-GAAP gross profit, non-GAAP income (loss) from operations and non-GAAP net income (loss) exclude share-based compensation expenses. The Company 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. The Company 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 the Company’s historical performance. 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.
The presentation of these non-GAAP financial measures is not intended to be considered in isolation from 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.
The accompanying tables have more details on the reconciliations between GAAP financial measures that are most directly comparable to non-GAAP financial measures.
Exchange Rate
The Company’s business is primarily conducted in China and a significant majority of revenues generated are denominated in Renminbi (“RMB”). This announcement contains currency conversions of RMB amounts into U.S. dollars (“USD”) solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to USD are made at a rate of RMB7.2993 to USD1.0000, the effective noon buying rate for December 31, 2024 as set forth in the H.10 statistical release of the Federal Reserve Board. No representation is made that the RMB amounts could have been, or could be, converted, realized or settled into USD at that rate on December 31, 2024, or at any other rate.
For further information, please contact:
Gaotu Techedu Inc.
Investor Relations
E-mail: ir@gaotu.cn
Christensen
In China
Ms. Alice Li
Phone: +86-10-5900-1548
E-mail: gotu@christensencomms.com
In the US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: linda.bergkamp@christensencomms.com
Gaotu Techedu Inc.
Unaudited condensed consolidated balance sheets
(In thousands of RMB and USD, except for share, per share and per ADS data)
As of December 31,
As of December 31,
2023
2024
2024
RMB
RMB
USD
ASSETS
Current assets
Cash and cash equivalents
636,052
1,321,118
180,992
Restricted cash
33,901
5,222
715
Short-term investments
2,253,910
1,845,242
252,797
Inventory, net
24,596
36,401
4,987
Prepaid expenses and other current assets, net
638,248
431,829
59,160
Total current assets
3,586,707
3,639,812
498,651
Non-current assets
Operating lease right-of-use assets
189,662
503,601
68,993
Property, equipment and software, net
533,531
670,237
91,822
Land use rights, net
26,568
25,762
3,529
Long-term investments
1,029,632
922,740
126,415
Deferred tax assets
11,312
–
–
Rental deposit
17,742
45,834
6,279
Other non-current assets
18,155
20,091
2,752
TOTAL ASSETS
5,413,309
5,828,077
798,441
LIABILITIES
Current liabilities
Accrued expenses and other current liabilities
(including accrued expenses and other current
liabilities of the consolidated VIE without
recourse to the Group of RMB484,222
and RMB811,879 as of December 31, 2023
and December 31, 2024, respectively)
805,032
1,245,207
170,592
Deferred revenue, current portion of the
consolidated VIE without recourse to the Group
1,113,480
1,867,096
255,791
Operating lease liabilities, current portion
(including current portion of operating lease
liabilities of the consolidated VIE without
recourse to the Group of RMB34,401 and
RMB114,471 as of December 31, 2023 and
December 31, 2024, respectively)
50,494
147,635
20,226
Income tax payable (including income tax
payable of the consolidated VIE without
recourse to the Group of RMB4,210 and
RMB606 as of December 31, 2023 and
December 31, 2024, respectively)
4,278
665
91
Total current liabilities
1,973,284
3,260,603
446,700
Gaotu Techedu Inc.
Unaudited condensed consolidated balance sheets
(In thousands of RMB and USD, except for share, per share and per ADS data)
As of December
31,
As of December 31,
2023
2024
2024
RMB
RMB
USD
Non-current liabilities
Deferred revenue, non-current portion of
the consolidated VIE without recourse
to the Group
124,141
218,797
29,975
Operating lease liabilities, non-current
portion (including non-current portion
of operating lease liabilities of the
consolidated VIE without recourse
to the Group of RMB121,277 and
RMB337,258 as of December 31, 2023
and December 31, 2024, respectively)
137,652
344,609
47,211
Deferred tax liabilities (including deferred
tax liabilities of the consolidated VIE
without recourse to the Group of
RMB71,850 and RMB70,316 as of
December 31, 2023 and December 31,
2024, respectively)
71,967
70,604
9,673
TOTAL LIABILITIES
2,307,044
3,894,613
533,559
SHAREHOLDERS’ EQUITY
Ordinary shares
116
116
16
Treasury stock, at cost
(85,178)
(242,866)
(33,273)
Additional paid-in capital
7,987,957
7,991,421
1,094,820
Accumulated other comprehensive loss
(33,209)
(2,832)
(388)
Statutory reserve
50,225
66,042
9,048
Accumulated deficit
(4,813,646)
(5,878,417)
(805,341)
TOTAL SHAREHOLDERS’ EQUITY
3,106,265
1,933,464
264,882
TOTAL LIABILITIES AND TOTAL
SHAREHOLDERS’ EQUITY
5,413,309
5,828,077
798,441
Gaotu Techedu Inc.
Unaudited condensed consolidated statements of operations
(In thousands of RMB and USD, except for share, per share and per ADS data)
For the three months ended December 31,
For the year ended December 31,
2023
2024
2024
2023
2024
2024
RMB
RMB
USD
RMB
RMB
USD
Net revenues
761,014
1,388,621
190,240
2,960,813
4,553,556
623,835
Cost of revenues
(227,719)
(440,279)
(60,318)
(790,207)
(1,454,917)
(199,323)
Gross profit
533,295
948,342
129,922
2,170,606
3,098,639
424,512
Operating expenses:
Selling expenses
(465,686)
(736,189)
(100,857)
(1,501,200)
(2,963,736)
(406,030)
Research and development expenses
(136,046)
(145,050)
(19,872)
(462,043)
(648,063)
(88,784)
General and administrative expenses
(119,478)
(216,377)
(29,644)
(356,369)
(668,673)
(91,608)
Total operating expenses
(721,210)
(1,097,616)
(150,373)
(2,319,612)
(4,280,472)
(586,422)
Loss from operations
(187,915)
(149,274)
(20,451)
(149,006)
(1,181,833)
(161,910)
Interest income
18,603
14,776
2,024
75,829
70,384
9,643
Realized gains from investments
5,269
5,017
687
31,230
25,302
3,466
Other income/(expenses), net
32,776
(6,395)
(876)
54,471
45,825
6,278
(Loss)/income before provision for
income tax and share of results of
equity investees
(131,267)
(135,876)
(18,616)
12,524
(1,040,322)
(142,523)
Income tax benefits/(expenses)
11,618
42
6
(10,657)
(8,632)
(1,183)
Share of results of equity investees
–
–
–
(9,165)
–
–
Net loss
(119,649)
(135,834)
(18,610)
(7,298)
(1,048,954)
(143,706)
Net loss attributable to Gaotu
Techedu Inc.’s ordinary shareholders
(119,649)
(135,834)
(18,610)
(7,298)
(1,048,954)
(143,706)
Net loss per ordinary share
Basic
(0.69)
(0.80)
(0.11)
(0.04)
(6.12)
(0.84)
Diluted
(0.69)
(0.80)
(0.11)
(0.04)
(6.12)
(0.84)
Net loss per ADS
Basic
(0.46)
(0.53)
(0.07)
(0.03)
(4.08)
(0.56)
Diluted
(0.46)
(0.53)
(0.07)
(0.03)
(4.08)
(0.56)
Weighted average shares used in net
loss per share
Basic
172,545,719
169,167,503
169,167,503
173,725,790
171,412,125
171,412,125
Diluted
172,545,719
169,167,503
169,167,503
173,725,790
171,412,125
171,412,125
Note: Three ADSs represent two ordinary shares.
Gaotu Techedu Inc.
Reconciliations of non-GAAP measures to the most comparable GAAP measures
(In thousands of RMB and USD, except for share, per share and per ADS data)
For the three months ended December 31,
For the year ended December 31,
2023
2024
2024
2023
2024
2024
RMB
RMB
USD
RMB
RMB
USD
Net revenues
761,014
1,388,621
190,240
2,960,813
4,553,556
623,835
Less: other revenues(1)
25,237
16,510
2,262
87,912
133,591
18,302
Add: VAT and surcharges
46,509
91,292
12,507
181,001
283,341
38,818
Add: ending deferred revenue
1,237,621
2,085,893
285,766
1,237,621
2,085,893
285,766
Add: ending refund liability
67,157
127,969
17,532
67,157
127,969
17,532
Less: beginning deferred revenue
761,301
1,439,217
197,172
959,333
1,237,621
169,553
Less: beginning refund liability
47,631
77,869
10,668
60,597
67,157
9,200
Gross billings
1,278,132
2,160,179
295,943
3,338,750
5,612,390
768,896
Note (1): Include miscellaneous revenues generated from services other than courses.
For the three months ended December 31,
For the year ended December 31,
2023
2024
2024
2023
2024
2024
RMB
RMB
USD
RMB
RMB
USD
Gross profit
533,295
948,342
129,922
2,170,606
3,098,639
424,512
Share-based compensation expenses(1)
in cost of revenues
3,862
2,460
337
12,959
7,003
959
Non-GAAP gross profit
537,157
950,802
130,259
2,183,565
3,105,642
425,471
Loss from operations
(187,915)
(149,274)
(20,451)
(149,006)
(1,181,833)
(161,910)
Share-based compensation expenses(1)
15,679
12,293
1,684
58,353
53,217
7,291
Non-GAAP loss from operations
(172,236)
(136,981)
(18,767)
(90,653)
(1,128,616)
(154,619)
Net loss
(119,649)
(135,834)
(18,610)
(7,298)
(1,048,954)
(143,706)
Share-based compensation expenses(1)
15,679
12,293
1,684
58,353
53,217
7,291
Non-GAAP net (loss)/income
(103,970)
(123,541)
(16,926)
51,055
(995,737)
(136,415)
Note (1): The tax effects of share-based compensation expenses adjustments were nil.
View original content:https://www.prnewswire.com/news-releases/gaotu-techedu-announces-fourth-quarter-and-fiscal-year-2024-unaudited-financial-results-302385683.html
SOURCE Gaotu Techedu Inc.
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