Earnings Call Scheduled for 8:00 a.m. EST on June 12, 2024SINGAPORE, June 10, 2024 /PRNewswire/ -- 51Talk Online Education Group ("51Talk", or the "Company") (NYSE American: COE), a global online education platform with core expertise in English education, today announced that it will report its unaudited financial results for the first quarter ended March 31, 2024 on Wednesday, June 12, 2024, before the open of U.S. markets.The Company's management will host an earnings conference call at 8:00 a.m. U.S. Ea ...

SINGAPORE, May 31, 2024 /PRNewswire/ -- 51Talk Online Education Group ("51Talk" or the "Company") (NYSE American: COE), a global online education platform with core expertise in English education, announced today that its board of directors (the "Board") has appointed Mr. Jimmy Lai as an independent director, effective June 1, 2024. Mr. Jimmy Lai will also serve as a member and chairman of the audit committee of the Board, a member of the compensation committee of the Board, and a member of the nominating a ...

SINGAPORE, April 29, 2024 /PRNewswire/ -- 51Talk Online Education Group ("51Talk" or the "Company") (NYSE: COE), a global online education platform with core expertise in English education, announced  that it filed its annual report on Form 20-F for the fiscal year ended December 31, 2023 with the Securities and Exchange Commission ("SEC") on April 29, 2024. The annual report can be accessed on the Company's investor relations website at http://ir.51talk.com/ as well as the SEC's website at http://www.sec.g ...

Dividends and Shareholder Rights - The company has not declared or paid cash dividends previously and currently has no concrete plans to do so, intending to retain most available funds for business operations and expansion [339]. - The company’s board of directors has discretion over dividend distribution, which will depend on future operations, earnings, and other relevant factors [339]. - The company’s shareholders have no general right to inspect corporate records, but annual audited financial statements will be provided [347]. - The company may issue additional ordinary shares as determined by the board of directors, which could dilute existing shareholders' voting power [347]. Corporate Structure and Regulatory Environment - The company is an exempted company under the Cayman Islands law, allowing it to conduct business mainly outside the jurisdiction without certain regulatory requirements [348]. - The Cayman Islands currently imposes no taxes on profits, income, or gains, benefiting the company and its shareholders [350]. - The company is not currently involved in any legal proceedings that could materially affect its business or financial condition [338]. Financial Performance and Condition - The consolidated financial statements of 51Talk Online Education Group for the year ended December 31, 2023, present a fair view of the company's financial position and results of operations [427]. - The company reported accumulated deficits and net current liabilities, raising substantial doubt about its ability to continue as a going concern [431]. - The financial statements were prepared in accordance with accounting principles generally accepted in the United States of America [427]. - The company has experienced operating cash outflows, which have materially affected its financial condition and prospects [431]. - Total net revenues for the year ended December 31, 2023, reached $27,111,000, a significant increase from $15,048,000 in 2022, representing an increase of approximately 80.5% [438]. - Gross profit for the year ended December 31, 2023, was $20,789,000, compared to $11,854,000 in 2022, indicating a growth of about 75.1% [438]. - The company reported a net loss from continuing operations of $15,032,000 for the year ended December 31, 2023, compared to a net loss of $12,844,000 in 2022 [438]. - Total liabilities rose significantly from $21,057,000 in 2022 to $39,347,000 in 2023, marking an increase of about 87.5% [435]. - Total current assets increased from $26,567,000 as of December 31, 2022, to $29,783,000 as of December 31, 2023, reflecting an increase of approximately 8.4% [435]. Taxation and Compliance - The corporate income tax rate in Singapore is 17.0%, with the first SGD200,000 of annual normal chargeable income exempt from tax for qualifying companies [352]. - There is no withholding tax on dividend payments in Singapore, and dividends received by individual investors are exempt from income tax [357]. - Singapore does not impose tax on capital gains, and gains from the disposal of ordinary shares are not taxable unless derived from a trade or business [359]. - The company may face unfavorable tax consequences if the PRC tax authorities determine its Cayman Islands holding company is a mainland China resident enterprise [369]. - The company is subject to value-added tax in mainland China at rates of 6%, 9%, and 13% on services provided [367]. Internal Controls and Audit - As of December 31, 2023, the company's disclosure controls and procedures were deemed ineffective, impacting the reliability of financial reporting [398]. - Two material weaknesses in internal control over financial reporting were identified: insufficient competent financial reporting personnel and lack of internal audit personnel [399]. - The company implemented internal control improvement measures in 2023, including enhanced training for finance staff and utilization of disclosure checklists [401]. - The independent registered accounting firm has not performed a new audit of the company's internal control over financial reporting [402]. - The audit committee includes two financial experts, Mr. Shengwen (Roy) Rong and Mr. Xiaoguang Wu [405]. Cybersecurity - The company has not experienced any material cybersecurity incidents or identified significant cybersecurity threats as of the date of the report [414]. - A cybersecurity risk management team has been established, including members with professional technical certifications, to oversee cybersecurity risks [416]. Business Strategy and Market Focus - The Company deconsolidated its China Mainland Business on June 30, 2022, shifting its focus to international markets, which will be its core strategy going forward [444]. - The Company’s international business strategy includes the establishment of subsidiaries in Singapore, Malaysia, and Thailand to enhance its global presence [449]. - The international business now focuses on one-on-one English lessons in regions such as Hong Kong, Malaysia, and Thailand, contributing to rapid business development [456]. Employee and Operational Expenses - Total employee benefit expenses for continuing operations were approximately US$1,492 million in 2023, compared to US$779 million in 2022, reflecting an increase of 91.7% [491]. - Advertising expenses for the year ended December 31, 2023, were US$8,670 million, up from US$5,101 million in 2022, representing a 70.5% increase [486]. - The Group's rental expenses for the year ended December 31, 2023, were US$898 million, compared to US$699 million in 2022, marking a 28.5% increase [487]. Revenue Recognition and Financial Reporting - The Group's revenue recognition model involves recognizing revenue from prepaid credit packages when lesson credits are consumed, leading to initial losses in the international business [458]. - The Group expects to recognize substantially all of the US$26,917 million allocated to unsatisfied performance obligations as revenue within the operating cycle [483]. - The change in reporting currency from RMB to USD effective January 1, 2022, aligns the financial reporting with the underlying operations, enhancing the depiction of the Group's results [462].

51Talk Online Education Group (NYSE:COE) Q4 2023 Results Conference Call March 22, 2024 8:00 AM ET Company Participants David Chung - Investor Relations Vice President Jiajia Huang - Founder, Chairman & CEO Chun Tang - Chief Financial Officer Operator Hello, ladies and gentlemen. Thank you for standing by for 51Talk Online Education Group's Fourth Quarter 2023 Earnings Conference Call. [Operator Instructions] Today's conference call is being recorded. I will now turn the call over to your host, Mr. David Ch ...

SINGAPORE, March 22, 2024 /PRNewswire/ -- 51Talk Online Education Group ("51Talk" or the "Company") (NYSE American: COE), a global online education platform with core expertise in English education, announced its unaudited results for the fourth quarter and full year ended December 31, 2023. Full Year 2023 Financial and Operating Highlights Gross billings[1] for 2023 were US$39.9 million, a 38.4% growth from 2022. Net revenues were US$27.3 million for 2023, an 81.4% increase from US$15.0 million for 2022. ...

51Talk Online Education Group (NYSE:COE) Q3 2023 Earnings Conference Call December 18, 2023 8:00 AM ET Company Participants David Chung - IR Jack Huang - CEO Cindy Tang - CFO Conference Call Participants Operator Hello, ladies and gentlemen. Thank you for standing by for 51Talk Online Education Group's Third Quarter 2023 Earnings Conference Call. At this time, all participants are in listen-only mode. Today's conference call is being recorded. I will now turn the call over to your host, Mr. David Chung, Inv ...

Exhibit 99.1 51Talk Online Education Group Announces Third Quarter 2023 Results SINGAPORE, December 18, 2023 -- 51Talk Online Education Group ("51Talk" or the "Company") (NYSE American: COE), a global online education platform with core expertise in English education, announced its unaudited results for the third quarter ended September 30, 2023. Third Quarter 2023 Financial and Operating Highlights · Gross billings for the third quarter of 2023 were US$10.9 million, at the high-end of outlook and a 11.3% g ...

51Talk Online Education Group (NYSE:COE) Q2 2023 Results Conference Call August 25, 2023 8:00 AM ET Company Participants David Chung - Investor Relations Jack Huang - Chief Executive Officer Cindy Tang - Chief Financial Officer Operator Hello, ladies and gentlemen. Thank you for standing by for 51Talk Online Education Group's Second Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. Today's conference call is being recorded. I will now turn the call over to your ...

Exhibit 99.1 51Talk Online Education Group Announces First Quarter 2023 Results SINGAPORE, April 26, 2023 -- 51Talk Online Education Group ("51Talk" or the "Company") (NYSE: COE), a global online education platform with core expertise in English education, announced its unaudited results for the first quarter ended March 31, 2023. First Quarter 2023 Financial and Operating Highlights · Net revenues were US$5.6 million, a 195.6% increase from US$1.9 million for the first quarter of 2022. · Gross margin was 7 ...