SINGAPORE, Aug. 30,
2022 /PRNewswire/ -- China Online Education Group
("51Talk" or the "Company") (NYSE: COE), a global online education
platform with core expertise in English education, announced its
unaudited financial results for the second quarter ended June 30,
2022.
Second Quarter 2022 Financial and
Operating Highlights
The Company completed the divesture of its China mainland business on June 30th, 2022. After the divesture,
the Company focuses on providing online English tutoring lessons
taught by foreign teachers to K-12 and post-secondary students in
countries and regions outside of the China mainland.
The Company has announced that an annual general meeting of
shareholders will be held on September 30,
2022, to approve the change of the Company's legal name from
China Online Education Group to 51Talk Online Education
Group.
The audit committee and the board of directors of the Company
have approved the engagement of Marcum
Bernstein & Pinchuk LLP ("MBP") as the Company's
independent registered public accounting firm. MBP will be engaged
to audit the annual consolidated financial statements of the
Company and its subsidiaries to be filed with the U.S. Securities
and Exchange Commission for the fiscal year ending December 31, 2022.
- Net revenues for the second quarter of 2022 were US$3.5 million, and gross margin for the second
quarter of 2022 was 79.2%.
- Net loss for the second quarter of 2022 was US$15.0 million, including net loss from
continuing operations[1] of US$4.6 million and net loss from discontinued
operations[2] of US$10.4
million.
- Non-GAAP net loss[3] for the second quarter of 2022
was US$14.9 million, including
non-GAAP net loss from continuing operations of US$4.5 million and non-GAAP net loss from
discontinued operations of US$10.4
million.
- Cash, cash equivalents and restricted cash balance stood at
US$22.1 million as of June 30, 2022.
- Gross billings[4] of continuing operation for the
second quarter of 2022 were US$7.8
million.
Financial and
Operating Data
|
For the three months
ended
|
|
|
|
Mar.
31,
|
|
Jun.
30,
|
|
Q-o-Q
|
|
2022[5]
|
|
2022
|
|
Change
|
|
|
|
|
|
|
Net Revenues
(in US$ millions)
|
1.9
|
|
3.5
|
|
87.7 %
|
Gross
Margin
|
77.9 %
|
|
79.2 %
|
|
130 bps
|
Gross Billings of
Continuing Operations (in US$ millions)
|
5.3
|
|
7.8
|
|
46.5 %
|
|
|
|
|
|
|
Active students with
attended lesson consumption of continuing
operations[6] (in thousands)
|
9.3
|
|
14.9
|
|
60.2 %
|
[1]
"Continuing operations" refers to the Company's remaining overseas
business after the divesture of its China mainland
business.
|
[2]
"Discontinued operations" refers to the Company's China mainland
business, which has been disposed on June 30th,
2022.
|
[3] For more
information on non-GAAP financial measures, please see the section
of "Use of Non-GAAP Financial Measures" and the table captioned
"Reconciliation of Non-GAAP Measures to the Most Comparable GAAP
Measures" set forth in this press release.
|
[4] Gross
billings for a specific period, which is one of the Company's key
operating data, is defined as the total amount of cash received and
receivable from third party payment platforms for the sale of
course packages and services in such period, net of the total
amount of refunds in such period.
|
[5] For
purposes of comparison, the financial and operating data of
overseas business for the first quarter of 2022 are presented in
this column.
|
[6] An
"active student with attended lesson consumption" for a specified
period refers to a student who attended at least one paid lesson,
excluding those students who only attended paid live broadcasting
lessons or trial lessons.
|
"In the second quarter of 2022, we successfully completed the
divesture of our China mainland
business and will solely focus on overseas business going forward.
Starting from the third quarter, 100% of the Company's revenues
will be derived from overseas markets. Furthermore, to reflect our
overseas focus, we will hold an annual general meeting on
September 30th to vote on the
proposal of changing our legal name from China Online Education
Group to 51Talk Online Education Group." said Mr.
Jack Jiajia Huang, Founder, Chairman
and Chief Executive Officer of 51Talk.
"We are excited to report another quarter marked by continued
top-line growth of our overseas business. In the second quarter,
our overseas business continued to see healthy and sustainable
development. Our second quarter overseas business gross billings
reached $7.8 million, representing
46.5% sequential growth. The number of our paying students reached
8.1k, representing 25% sequential
growth and the number of our active students with attended lesson
consumption reached 14.9k,
representing 60% sequential growth in the second quarter. In
addition, our overseas business achieved breakeven in cash flow
during the two months of May and June. This reflects our
strong execution of a healthy growth strategy in overseas business
and we are looking forward to the future performance of cash flow."
concluded Mr. Huang.
Second Quarter 2022 Financial Results
The Company officially launched its overseas business in
July 2021 and plans to focus on the
overseas business after its divesture of China mainland business. As the Company began
to offer one-on-one course taught by foreign teachers to students
in overseas markets from July 2021,
there are no comparative data for overseas business for the second
quarter of 2021.
Net Revenues and Gross Margin
Net revenues for the second quarter of 2022 were US$3.5 million. The number of active
students with attended lesson consumption of continuing operation
was 14,900 in the second quarter of 2022.
Cost of revenues for the second quarter of 2022 was US$0.7 million. Gross profit for the second
quarter of 2022 was US$2.8 million. Gross margin for the second
quarter of 2022 was 79.2%.
Operating Expenses
Total operating expenses for the second quarter of 2022 were
US$6.9 million.
Sales and marketing expenses for the second quarter of 2022 were
US$3.6 million. Excluding
share-based compensation expenses, non-GAAP sales and marketing
expenses for the second quarter of 2022 were US$3.6 million.
Product development expenses for the second quarter of 2022 were
US$0.7 million. Excluding share-based
compensation expenses, non-GAAP product development expenses for
the second quarter of 2022 were US$0.7
million.
General and administrative expenses for the second quarter of
2022 were US$2.6 million.
Excluding share-based compensation expenses, non-GAAP general and
administrative expenses for the second quarter of 2022 were
US$2.5 million.
Loss from Operations
Operating loss for the second quarter of 2022 was US$4.1 million.
Non-GAAP operating loss for the second quarter of 2022 was
US$4.0 million.
Net loss
Net loss for the second quarter of 2022 was US$15.0 million, including net loss from
continuing operations of US$4.6
million and net loss from discontinued operations of
US$10.4 million.
Non-GAAP net loss for the second quarter of 2022 was
US$14.9 million, including non-GAAP
net loss from continuing operations of US$4.5 million and non-GAAP net loss from
discontinued operations of US$10.4
million.
Basic and diluted net loss per share attributable to
ordinary shareholders for the second quarter of 2022 was
US$0.04.
Non-GAAP basic and diluted net loss per share attributable
to ordinary shareholders for the second quarter of 2022 was
US$0.04.
Basic and diluted net loss per American depositary share ("ADS")
attributable to ordinary shareholders for the second quarter of
2022 was US$0.67. Each ADS represents
15 Class A ordinary shares.
Non-GAAP basic and diluted net loss per ADS attributable to
ordinary shareholders for the second quarter of 2022 was
US$0.67.
Balance Sheet
As of June 30, 2022, the Company
had total cash, cash equivalents, restricted cash of US$22.1 million.
The Company had advances from students[7] (current
and non-current) of US$10.2 million
as of June 30, 2022.
[7]
"Advances from students" is defined as the amount of
obligation to transfer goods or service to students or business
partners for which consideration has been received from students in
advance. The deposits from students are also presented in the
total amount of "advances from students"
|
Outlook
For the third quarter of 2022, the Company currently expects
gross billings to be between US$8.0
million and US$8.2
million.
The above outlook is based on current market conditions and
reflects the Company's current and preliminary estimates of market
and operating conditions and customer demand, which are all subject
to change.
Management Change
The Company also announced today that Mr. Min Xu, Chief
Financial Officer, has resigned for personal reasons and his last
day with the Company will be September 30th,
2022. Ms. Chun Tang, Vice President of Finance of the
Company, will assume the role of Chief Financial Officer starting
on October 1st, 2022.
Ms. Tang has served in roles of Finance Director, Senior Finance
Director, and Vice President of Finance since she joined the
Company in 2014 and played an instrumental role in the Company's
successful IPO completed in June
2016. Previously, Ms. Tang served as Senior Financial
Analyst in Google's Beijing office
from 2007 to 2014. Earlier in her career, Ms. Tang served as Senior
Financial Analyst with Novo Nordisk, a CSE-listed world leading
pharmaceutical manufacturer, Finance Manager with Beijing City
International School, and Senior Auditor with
PricewaterhouseCoopers Zhong Tian LLP. Ms. Tang received a Master
of Arts degree in western accounting from The Central University of
Finance and Economics and a Bachelor of Arts degree in accounting
from Northeastern University in
Shenyang China.
Mr. Jack Jiajia Huang, Founder, Chairman and Chief
Executive Officer of the Company, said, "On behalf of the Board of
Directors and myself, I would like to thank Min for his service as
51Talk's Chief Financial Officer. Over the course of his four-year
tenure, Min led us to achieve profitability by focusing on
sustainable growth. We wish him the best in his future
endeavors."
Conference Call
The Company's management will host an earnings conference call
at 8:00 AM U.S. Eastern Time on
August 30, 2022 (8:00 PM Singapore/Beijing/Hong
Kong time on August 30,
2022).
Dial-in details for the earnings conference call are as
follows:
United States (toll
free):
|
1-866-264-5888
|
International:
|
1-412-317-5226
|
Mainland
China:
|
400-120-1203
|
Hong Kong (toll
free):
|
800-905-945
|
Hong Kong:
|
852-3018-4992
|
Participants should dial-in at least 5 minutes before the
scheduled start time and ask to be connected to the call for "China
Online Education Group."
Additionally, a live and archived webcast of the conference call
will be available on the Company's investor relations website at
http://ir.51talk.com.
A replay of the conference call will be accessible until
September 6, 2022, by dialing the
following telephone numbers:
United States (toll
free):
|
1-877-344-7529
|
International:
|
1-412-317-0088
|
Replay Access
Code:
|
9674628
|
About China Online Education Group
China Online Education Group (NYSE: COE) is a global online
education platform with core expertise in English education. The
Company's mission is to make quality education accessible and
affordable. The Company's online and mobile education platforms
enable students to take live interactive English lessons, on
demand. The Company connects its students with a large pool of
highly qualified teachers that it assembled using a shared economy
approach, and employs student and teacher feedback and data
analytics to deliver a personalized learning experience to its
students.
Use of Non-GAAP Financial Measures
In evaluating its business, 51Talk 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 sales and marketing expenses, non-GAAP
product development expenses, non-GAAP general and administrative
expenses, non-GAAP operating expenses, non-GAAP operating
income/(loss), non-GAAP net income/(loss), non-GAAP net
income/(loss) attributable to ordinary shareholders, and non-GAAP
net income/(loss) attributable to ordinary shareholders per share
and 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 press
release.
51Talk believes that these non-GAAP financial measures provide
meaningful supplemental information regarding its performance by
excluding share-based compensation expenses that may not be
indicative of its operating performance from a cash perspective.
51Talk 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 51Talk's historical performance. 51Talk computes its
non-GAAP financial measures using the same consistent method from
quarter to quarter and from period to period. 51Talk 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 expenses that have been
and will continue to be for the foreseeable future a significant
recurring expense in the 51Talk's business. Management compensates
for these limitations by providing specific information regarding
the GAAP amounts excluded from each non-GAAP measure. The
accompanying table at the end of this press release provides more
details on the reconciliations between GAAP financial measures that
are most directly comparable to non-GAAP financial measures.
Safe Harbor Statement
This press release contains statements that may constitute
"forward-looking" statements pursuant to 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", "aims",
"future", "intends", "plans", "believes", "estimates", "likely to"
and similar statements. Among other things, 51Talk's quotations
from management in this announcement, as well as 51Talk's strategic
and operational plans, contain forward-looking statements. 51Talk
may also make written or oral forward-looking statements in its
periodic reports to the Securities and Exchange Commission ("SEC"),
in its annual report 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 51Talk'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: 51Talk's goals and strategies; 51Talk's
expectations regarding demand for and market acceptance of its
brand and platform; 51Talk's ability to retain and increase its
student enrollment; 51Talk's ability to offer new courses; 51Talk's
ability to engage, train and retain new teachers; 51Talk's future
business development, results of operations and financial
condition; 51Talk's ability to maintain and improve infrastructure
necessary to operate its education platform; competition in the
online education industry in its overseas markets; the expected
growth of, and trends in, the markets for 51Talk's course offerings
in its overseas markets; relevant government policies and
regulations relating to 51Talk's corporate structure, business and
industry; general economic and business condition in the Philippines, its overseas markets and
elsewhere; and assumptions underlying or related to any of the
foregoing. Further information regarding these and other risks is
included in 51Talk's filings with the SEC. All information provided
in this press release is as of the date of this press release, and
51Talk does not undertake any obligation to update any
forward-looking statement, except as required under applicable
law.
CHINA ONLINE
EDUCATION GROUP
|
|
UNAUDITED CONDENSED
CONSOLIDATED BALANCE SHEETS
|
|
(In
thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
As
of
|
|
|
|
|
|
Jun.
30
|
|
|
|
|
|
|
2022
|
|
|
|
|
|
|
US$
|
|
|
|
|
|
|
|
|
|
ASSETS
|
|
|
|
|
|
Current
assets
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
21,115
|
|
|
|
|
Restricted
cash
|
|
975
|
|
|
|
|
Prepaid expenses and
other current assets
|
|
4,009
|
|
|
|
Total current
assets
|
|
26,099
|
|
|
|
|
|
|
|
|
|
|
Non-current
assets
|
|
|
|
|
|
|
Property and equipment,
net
|
|
47
|
|
|
|
|
Intangible assets,
net
|
|
110
|
|
|
|
|
Right-of-use
assets
|
|
74
|
|
|
|
|
Deferred tax
assets
|
|
33
|
|
|
|
|
Other non-current
assets
|
|
127
|
|
|
|
Total non-current
assets
|
|
391
|
|
|
|
|
|
|
|
|
|
|
Total
assets
|
|
26,490
|
|
|
|
|
|
|
|
|
LIABILITIES
|
|
|
|
|
AND SHAREHOLDERS'
EQUITY
|
|
|
|
Current
liabilities
|
|
|
|
|
|
Advances from
students
|
|
10,243
|
|
|
|
Accrued expenses and
other current liabilities
|
|
3,437
|
|
|
|
Amounts due to related
parties
|
|
982
|
|
|
|
Lease
liability
|
|
38
|
|
|
|
Taxes
payable
|
|
148
|
|
|
Total current
liabilities
|
|
14,848
|
|
|
|
|
|
|
|
|
Non-current
liabilities
|
|
|
|
|
|
Other non-current
liabilities
|
|
205
|
|
|
Total non-current
liabilities
|
|
205
|
|
|
|
|
|
|
|
|
Total
liabilities
|
|
15,053
|
|
|
|
|
|
|
|
Total shareholders'
equity
|
|
11,437
|
|
|
|
|
|
|
|
Total liabilities
and shareholders' equity
|
|
26,490
|
|
CHINA ONLINE
EDUCATION GROUP
|
UNAUDITED INTERIM
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE
LOSS
|
(In thousands except
for number of shares and per share data)
|
|
|
|
For the three months
ended
|
|
For the six months
ended
|
|
|
Mar.
31,
|
|
Jun.
30,
|
|
Jun.
30,
|
|
|
2022
|
|
2022
|
|
2022
|
|
|
US$
|
|
US$
|
|
US$
|
Net revenues
|
|
1,878
|
|
3,526
|
|
5,404
|
Cost of
revenues
|
|
(415)
|
|
(733)
|
|
(1,148)
|
Gross profit
|
|
1,463
|
|
2,793
|
|
4,256
|
Operating
expenses
|
|
|
|
|
|
|
Sales and marketing
expenses
|
|
(1,993)
|
|
(3,573)
|
|
(5,566)
|
Product development
expenses
|
|
(1,101)
|
|
(700)
|
|
(1,801)
|
General and
administrative expenses
|
|
(1,885)
|
|
(2,611)
|
|
(4,496)
|
Total operating
expenses
|
|
(4,979)
|
|
(6,884)
|
|
(11,863)
|
Loss from
operations
|
|
(3,516)
|
|
(4,091)
|
|
(7,607)
|
Other
income/(expenses), net
|
|
91
|
|
(498)
|
|
(407)
|
Loss before income tax
expenses and
discontinued operations
|
|
(3,425)
|
|
(4,589)
|
|
(8,014)
|
Income tax
expenses
|
|
(12)
|
|
(14)
|
|
(26)
|
Loss from continuing
operations, net of income
tax
|
|
(3,437)
|
|
(4,603)
|
|
(8,040)
|
Loss from discontinued
operations, net of
income tax
|
|
(17,734)
|
|
(10,375)
|
|
(28,109)
|
Net loss, all
attributable to the Company's
ordinary shareholders
|
|
(21,171)
|
|
(14,978)
|
|
(36,149)
|
|
|
|
|
|
|
|
Weighted average number
of ordinary shares
used in computing basic and diluted loss per
share
|
|
334,056,649
|
|
334,567,207
|
|
334,313,338
|
CHINA ONLINE
EDUCATION GROUP
|
|
UNAUDITED CONDENSED
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
|
|
(In thousands except
for number of shares and per share data)
|
|
|
|
|
|
For the three months
ended
|
|
For the six months
ended
|
|
|
|
|
|
|
Mar.
31,
|
|
Jun.
30,
|
|
Jun.
30,
|
|
|
|
|
|
|
2022
|
|
2022
|
|
2022
|
|
|
|
|
|
|
US$
|
|
US$
|
|
US$
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss per
share attributable to ordinary shareholders
|
|
|
|
|
|
|
Basic and
diluted
|
|
|
|
(0.06)
|
|
(0.04)
|
|
(0.11)
|
|
Net loss per ADS
attributable to ordinary shareholders
|
|
|
|
|
|
|
Basic and
diluted
|
|
|
|
(0.95)
|
|
(0.67)
|
|
(1.62)
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive
loss:
|
|
|
|
|
|
|
|
|
|
Net loss
|
|
|
|
(21,171)
|
|
(14,978)
|
|
(36,149)
|
|
Other comprehensive
loss
|
|
|
|
|
|
|
|
|
|
|
Foreign currency
translation adjustments
|
|
|
|
(2,403)
|
|
11,616
|
|
9,213
|
|
Total comprehensive
loss
|
|
|
|
(23,574)
|
|
(3,362)
|
|
(26,936)
|
|
|
|
|
|
|
|
|
|
|
|
Share-based
compensation expenses are included in the operating expenses as
follows:
|
|
|
|
|
|
|
|
|
|
|
|
Sales and marketing
expenses
|
|
|
|
8
|
|
5
|
|
13
|
|
Product development
expenses
|
|
|
|
(38)
|
|
(17)
|
|
(55)
|
|
General and
administrative expenses
|
|
|
|
(293)
|
|
(63)
|
|
(356)
|
|
CHINA ONLINE
EDUCATION GROUP
|
Reconciliation of
Non-GAAP Measures to the Most Comparable GAAP
Measures
|
(In thousands except
for number of shares and per share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
For the three months
ended
|
|
For the six months
ended
|
|
|
|
|
|
Mar.
31,
|
|
Jun.
30,
|
|
Jun.
30,
|
|
|
|
|
|
2022
|
|
2022
|
|
2022
|
|
|
|
|
|
US$
|
|
US$
|
|
US$
|
|
|
|
|
|
|
|
|
|
|
Sales and marketing
expenses
|
|
|
|
(1,993)
|
|
(3,573)
|
|
(5,566)
|
Less: Share-based
compensation expenses
|
|
|
|
8
|
|
5
|
|
13
|
Non-GAAP sales and
marketing expenses
|
|
|
|
(2,001)
|
|
(3,578)
|
|
(5,579)
|
|
|
|
|
|
|
|
|
|
|
Product development
expenses
|
|
|
|
(1,101)
|
|
(700)
|
|
(1,801)
|
Less: Share-based
compensation expenses
|
|
|
|
(38)
|
|
(17)
|
|
(55)
|
Non-GAAP product
development expenses
|
|
|
|
(1,063)
|
|
(683)
|
|
(1,746)
|
|
|
|
|
|
|
|
|
|
|
General and
administrative expenses
|
|
|
|
(1,885)
|
|
(2,611)
|
|
(4,496)
|
Less: Share-based
compensation expenses
|
|
|
|
(293)
|
|
(63)
|
|
(356)
|
Non-GAAP general and
administrative expenses
|
|
|
|
(1,592)
|
|
(2,548)
|
|
(4,140)
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses
|
|
|
|
(4,979)
|
|
(6,884)
|
|
(11,863)
|
Less: Share-based
compensation expenses
|
|
|
|
(323)
|
|
(75)
|
|
(398)
|
Non-GAAP operating
expenses
|
|
|
|
(4,656)
|
|
(6,809)
|
|
(11,465)
|
|
|
|
|
|
|
|
|
|
|
Loss from
operations
|
|
|
|
(3,516)
|
|
(4,091)
|
|
(7,607)
|
Less: Share-based
compensation expenses
|
|
|
|
(323)
|
|
(75)
|
|
(398)
|
Non-GAAP loss from
operations
|
|
|
|
(3,193)
|
|
(4,016)
|
|
(7,209)
|
CHINA ONLINE
EDUCATION GROUP
|
Reconciliation of
Non-GAAP Measures to the Most Comparable GAAP
Measures
|
(In thousands
except for number of shares and per share data)
|
|
|
|
|
|
For the three months
ended
|
|
For the six months
ended
|
|
|
|
|
|
|
Mar.
31,
|
|
Jun.
30,
|
|
Jun.
30,
|
|
|
|
|
|
|
|
2022
|
|
2022
|
|
2022
|
|
|
|
|
|
|
|
US$
|
|
US$
|
|
US$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax
expenses
|
|
|
|
(12)
|
|
(14)
|
|
(26)
|
|
|
Less: Tax impact of
Share-based compensation expenses
|
|
|
|
-
|
|
-
|
|
-
|
|
|
Non-GAAP income tax
expenses
|
|
|
|
(12)
|
|
(14)
|
|
(26)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss from continuing
operations, net of income tax
|
|
|
|
(3,437)
|
|
(4,603)
|
|
(8,040)
|
|
|
Less: Share-based
compensation expenses
|
|
|
|
(323)
|
|
(75)
|
|
(398)
|
|
|
Non-GAAP
loss from continuing operations, net of
income tax
|
|
|
|
(3,114)
|
|
(4,528)
|
|
(7,642)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss from discontinued
operations, net of income tax
|
|
|
|
(17,734)
|
|
(10,375)
|
|
(28,109)
|
|
|
Less: Share-based
compensation expenses
|
|
|
|
-
|
|
-
|
|
-
|
|
|
Non-GAAP
loss from discontinued operations, net of
income tax
|
|
|
|
(17,734)
|
|
(10,375)
|
|
(28,109)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss, all
attributable to the Company's ordinary shareholders
|
|
|
|
(21,171)
|
|
(14,978)
|
|
(36,149)
|
|
|
Add back: Share-based
compensation expenses
|
|
|
|
323
|
|
75
|
|
398
|
|
|
Non-GAAP net loss, all
attributable to the Company's ordinary
shareholders
|
|
|
|
(20,848)
|
|
(14,903)
|
|
(35,751)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number
of ordinary shares used in computing
basic and diluted loss per share
|
|
|
|
334,056,649
|
|
334,567,207
|
|
334,313,338
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP net loss per
share attributable to ordinary shareholders
|
|
|
|
|
|
|
|
basic and
diluted
|
|
|
|
(0.06)
|
|
(0.04)
|
|
(0.11)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP net loss per
ADS attributable to ordinary shareholders
|
|
|
|
|
|
|
|
|
basic and
diluted
|
|
|
|
(0.94)
|
|
(0.67)
|
|
(1.60)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
View original
content:https://www.prnewswire.com/news-releases/china-online-education-group-announces-second-quarter-2022-results-301614510.html
SOURCE China Online Education Group