Youdao Inc
NYSE:DAO

  • LAST PRICE
    3.0250
  • TODAY'S CHANGE (%)
    -0.0250 (-0.8197%)
  • Bid / Lots
    3.0100/ 5
  • Ask / Lots
    3.0400/ 2
  • Open / Previous Close
    3.0300 / 3.0500
  • Day Range
    3.0000
    3.0700
  • 52 Week Range
    2.8600
    4.7500
  • Volume
    26,919

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  • Aug 22, 2024

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    • 4:30AM ET on Thursday Aug 22, 2024 by MT Newswires
      Companies Mentioned: DAO
      04:30 AM EDT, 08/22/2024 (MT Newswires) -- ...

    • 4:30AM ET on Thursday Aug 22, 2024 by PR Newswire
      Companies Mentioned: DAO

      Youdao, Inc. ("Youdao" or the "Company") (NYSE: DAO), an intelligent learning company with industry-leading technology in China, today announced its unaudited financial results for the second quarter ended June 30, 2024.

    • 4:30AM ET on Thursday Aug 22, 2024 by Dow Jones
      Companies Mentioned: DAO

    • 4:30AM ET on Thursday Aug 22, 2024 by Dow Jones
      Companies Mentioned: DAO
      Note 1: The conversion of Renminbi (RMB) into United States dollars (USD) is based on the noon buying rate of USD1.00=RMB7.2672 on the last trading day of June (June 28, 2024) as set forth in the H.10 statistical release of the U.S. Federal Reserve Board. YOUDAO, INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (RMB and USD in thousands, except share and per ADS data) Three Months Ended Six Months Ended -------------------------------------------------- ------------------------ June 30, March 31, June 30, June 30, June 30, June 30, 2023 2024 2024 2024 2023 2024 ----------- ----------- ----------- ----------- ----------- ----------- RMB RMB RMB USD (1) RMB RMB Net revenues: Learning services 680,920 717,996 643,762 88,585 1,413,341 1,361,758 Smart devices 222,157 181,198 166,722 22,942 434,906 347,920 Online marketing services 303,557 492,665 511,237 70,348 521,657 1,003,902 Total net revenues 1,206,634 1,391,859 1,321,721 181,875 2,369,904 2,713,580 ----------- ----------- ----------- ----------- ----------- ----------- Cost of revenues (2) (639,459) (710,356) (684,942) (94,251) (1,200,879) (1,395,298) Gross profit 567,175 681,503 636,779 87,624 1,169,025 1,318,282 ----------- ----------- ----------- ----------- ----------- ----------- Operating expenses: Sales and marketing expenses (2) (587,651) (455,440) (515,711) (70,965) (1,152,856) (971,151) Research and development expenses (2) (205,076) (146,723) (152,987) (21,052) (387,906) (299,710) General and administrative expenses (2) (63,579) (49,416) (40,634) (5,591) (113,185) (90,050) Total operating expenses (856,306) (651,579) (709,332) (97,608) (1,653,947) (1,360,911) ----------- ----------- ----------- ----------- ----------- ----------- (Loss)/Income from operations (289,131) 29,924 (72,553) (9,984) (484,922) (42,629) ----------- ----------- ----------- ----------- ----------- ----------- Interest income 2,154 975 917 126 4,448 1,892 Interest expense (17,087) (20,334) (20,816) (2,864) (32,850) (41,150) Others, net 5,730 2,892 (909) (125) 12,108 1,983 ----------- ----------- ----------- ----------- ----------- ----------- (Loss)/Income before tax (298,334) 13,457 (93,361) (12,847) (501,216) (79,904) Income tax (expenses)/benefits (4,890) 1,028 (7,053) (970) (8,091) (6,025) ----------- ----------- ----------- ----------- ----------- ----------- Net (loss)/income (303,224) 14,485 (100,414) (13,817) (509,307) (85,929) Net loss/(income) attributable to noncontrolling interests 4,065 (2,053) 939 129 5,795 (1,114) ----------- ----------- ----------- Net (loss)/income attributable to ordinary shareholders of the Company (299,159) 12,432 (99,475) (13,688) (503,512) (87,043) =========== =========== =========== =========== =========== =========== Basic net (loss)/income per ADS (2.45) 0.11 (0.85) (0.12) (4.12) (0.74) Diluted net (loss)/income per ADS (2.45) 0.10 (0.85) (0.12) (4.12) (0.74) Shares used in computing basic net (loss)/income per ADS 122,247,009 118,317,220 117,173,272 117,173,272 122,257,874 117,745,253 Shares used in computing diluted net (loss)/income per ADS 122,247,009 118,928,848 117,173,272 117,173,272 122,257,874 117,745,253 Note 1: The conversion of Renminbi (RMB) into United States dollars (USD) is based on the noon buying rate of USD1.00=RMB7.2672 on the last trading day of June (June 28, 2024) as set forth in the H.10 statistical release of the U.S. Federal Reserve Board. Note 2: Share-based compensation in each category: Cost of revenues 1,049 778 727 100 2,308 1,505 Sales and marketing expenses 2,416 1,136 337 46 3,547 1,473 Research and development expenses 5,618 3,503 939 129 10,403 4,442 General and administrative expenses 3,261 2,479 1,506 208 6,582 3,985 YOUDAO, INC. UNAUDITED ADDITIONAL INFORMATION (RMB and USD in thousands) Three Months Ended Six Months Ended ---------------------------------------- -------------------- June June 30, March 31, June 30, 30, June 30, June 30, 2023 2024 2024 2024 2023 2024 --------- --------- --------- ------- --------- --------- RMB RMB RMB USD RMB RMB Net revenues Learning services 680,920 717,996 643,762 88,585 1,413,341 1,361,758 Smart devices 222,157 181,198 166,722 22,942 434,906 347,920 Online marketing services 303,557 492,665 511,237 70,348 521,657 1,003,902 Total net revenues 1,206,634 1,391,859 1,321,721 181,875 2,369,904 2,713,580 --------- --------- --------- ------- --------- --------- Cost of revenues Learning services 290,155 264,759 257,482 35,431 568,280 522,241 Smart devices 142,544 122,060 116,274 16,000 271,132 238,334 Online marketing services 206,760 323,537 311,186 42,820 361,467 634,723 Total cost of revenues 639,459 710,356 684,942 94,251 1,200,879 1,395,298 --------- --------- --------- ------- --------- --------- Gross margin Learning services 57.4 % 63.1 % 60.0 % 60.0 % 59.8 % 61.6 % Smart devices 35.8 % 32.6 % 30.3 % 30.3 % 37.7 % 31.5 % Online marketing services 31.9 % 34.3 % 39.1 % 39.1 % 30.7 % 36.8 % Total gross margin 47.0 % 49.0 % 48.2 % 48.2 % 49.3 % 48.6 % YOUDAO, INC. UNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS (RMB and USD in thousands, except per ADS data) Three Months Ended Six Months Ended ------------------------------------- ------------------- March June 30, 31, June 30, June 30, June 30, June 30, 2023 2024 2024 2024 2023 2024 --------- ------ -------- -------- --------- -------- RMB RMB RMB USD RMB RMB Net (loss)/income attributable to ordinary shareholders of the Company (299,159) 12,432 (99,475) (13,688) (503,512) (87,043) Add: share-based compensation 12,344 7,896 3,509 483 22,840 11,405 impairment of long-term investment 3,240 - - - 3,240 - Non-GAAP net (loss)/income attributable to ordinary shareholders of the Company (283,575) 20,328 (95,966) (13,205) (477,432) (75,638) Non-GAAP basic net (loss)/income per ADS (2.32) 0.17 (0.82) (0.11) (3.91) (0.64) Non-GAAP diluted net (loss)/income per ADS (2.32) 0.17 (0.82) (0.11) (3.91) (0.64)

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