Core Viewpoint - 17 Education & Technology Group Inc. reported significant growth in net revenues and improved operational efficiency in the first quarter of 2024, indicating a positive trajectory for its SaaS teaching and learning business [1][2][4]. Financial Performance - Net revenues for Q1 2024 were RMB25.5 million (US$3.5 million), a year-over-year increase of 175.0% from RMB9.3 million in Q1 2023 [2][5]. - Gross margin improved to 38.4% in Q1 2024, compared to 24.4% in Q1 2023 [2][8]. - The net loss narrowed to RMB56.1 million (US$7.8 million) in Q1 2024, down from a net loss of RMB92.5 million in Q1 2023 [2][14]. - Adjusted net loss (non-GAAP) was RMB42.7 million (US$5.9 million) in Q1 2024, compared to RMB64.0 million in Q1 2023 [2][15]. Cost Structure - Cost of revenues for Q1 2024 was RMB15.7 million (US$2.2 million), reflecting a year-over-year increase of 124.0% from RMB7.0 million in Q1 2023 [6]. - Total operating expenses decreased by 31.6% year-over-year to RMB72.7 million (US$10.1 million) in Q1 2024, down from RMB106.3 million in Q1 2023 [10][12]. Operational Insights - The company focused on enhancing its core SaaS business by improving product quality and expanding its sales network [3][4]. - The teaching and learning SaaS business showed consistent progress with new project wins and diversified service offerings [4]. Cash Position - As of March 31, 2024, cash and cash equivalents, restricted cash, and term deposits totaled RMB447.2 million (US$61.9 million), down from RMB476.7 million as of December 31, 2023 [16].

Core Viewpoint - 17 Education & Technology Group Inc. reported significant growth in net revenues and improved operational efficiency in the first quarter of 2024, indicating a positive trajectory for its SaaS teaching and learning business [2][5][4]. Financial Performance - Net revenues for Q1 2024 were RMB25.5 million (US$3.5 million), a year-over-year increase of 175.0% from RMB9.3 million in Q1 2023 [2][5]. - Gross margin improved to 38.4% in Q1 2024, compared to 24.4% in Q1 2023 [8]. - The net loss narrowed to RMB56.1 million (US$7.8 million) in Q1 2024, down from a net loss of RMB92.5 million in Q1 2023 [14]. - Adjusted net loss (non-GAAP) was RMB42.7 million (US$5.9 million) in Q1 2024, compared to RMB64.0 million in Q1 2023 [15]. Cost Structure - Cost of revenues for Q1 2024 was RMB15.7 million (US$2.2 million), reflecting a year-over-year increase of 124.0% from RMB7.0 million in Q1 2023 [6]. - Total operating expenses decreased by 31.6% year-over-year to RMB72.7 million (US$10.1 million) in Q1 2024, down from RMB106.3 million in Q1 2023 [10]. Operational Insights - The company focused on enhancing its core SaaS business by improving product quality and expanding its sales network [3]. - The teaching and learning SaaS business showed consistent progress with new project wins and diversified service offerings [4]. Cash Position - As of March 31, 2024, cash and cash equivalents, restricted cash, and term deposits totaled RMB447.2 million (US$61.9 million), down from RMB476.7 million as of December 31, 2023 [16].

Core Viewpoint - 17 Education & Technology Group Inc. will report its unaudited financial results for Q1 2024 on June 5, 2024, after U.S. market close [1] Company Overview - 17 Education & Technology Group Inc. is a leading education technology company in China, providing smart in-school classroom solutions that enhance teaching, learning, and assessment through data-driven products [3] - The company focuses on digital transformation in Chinese schools, offering SaaS solutions aimed at improving the efficiency of core teaching scenarios such as homework and in-class teaching [3] - Additionally, the company provides personalized self-directed learning products for families, utilizing technology and data insights to enhance students' learning efficiency [3]

BEIJING, May 30, 2024 (GLOBE NEWSWIRE) -- 17 Education & Technology Group Inc. (NASDAQ: YQ) (“17EdTech” or the “Company”), a leading education technology company in China, today announced that it will report its unaudited financial results for the first quarter ended March 31, 2024, on June 05, 2024 after the close of U.S. markets. The Company’s management will hold an earnings conference call on Wednesday, June 05, 2024 at 9:00 p.m. U.S. Eastern Time (Thursday, June 06, 2024 at 9:00 a.m. Beijing time). Ple ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) ...

Exhibit 99.1 17 Education & Technology Group Inc. Announces Fourth Quarter and Fiscal Year 2023 Unaudited Financial Results BEIJING, China, March 21, 2024 — (GLOBE NEWSWIRE) — 17 Education & Technology Group Inc. (NASDAQ: YQ) ("17EdTech" or the "Company"), a leading education technology company in China, today announced its unaudited financial results for the fourth quarter and the year ended December 31, 2023. Fourth Quarter 2023 Highlights 1 • Net revenues were RMB47.3 million (US$6.7 million), compared w ...

17 Education & Technology Group, Inc. (NASDAQ:YQ) Q4 2023 Earnings Conference Call March 20, 2024 9:00 PM ET Company Participants Lara Zhao - IR Manager Michael Chao Du - Director & CFO Conference Call Participants Operator Good evening and good morning, ladies and gentlemen, and thank you for standing by for 17EdTech's Fourth Quarter 2023 and full year earnings conference call. [Operator Instructions]. As a reminder, today's conference call is being recorded. I will now turn the meeting over to your host f ...

BEIJING, March 21, 2024 (GLOBE NEWSWIRE) -- 17 Education & Technology Group Inc. (NASDAQ:YQ) ("17EdTech" or the "Company"), a leading education technology company in China, today announced its unaudited financial results for the fourth quarter and the year ended December 31, 2023. Fourth Quarter 2023 Highlights1 Net revenues were RMB47.3 million (US$6.7 million), compared with net revenues of RMB39.6 million in the fourth quarter of 2022.Gross margin was 43.4%, compared with 52.1% in the fourth quarter of 2 ...

17 Education & Technology Group Inc. (NASDAQ:YQ) Q3 2023 Earnings Conference Call December 5, 2023 8:00 PM ET Company Participants Lara Zhao - Investor Relations Manager Michael Du - Director & Chief Financial Officer Conference Call Participants Operator Good evening and good morning, ladies and gentlemen. And thank you for standing by for 17EdTech's Third Quarter 2023 Earnings Conference Call. [Operator Instructions] As a reminder, today's conference call is being recorded. I'll now turn the meeting over ...

Exhibit 99.1 17 Education & Technology Group Inc. Announces Third Quarter 2023 Unaudited Financial Results BEIJING, China, December 7, 2023 — (GLOBE NEWSWIRE) — 17 Education & Technology Group Inc. (NASDAQ: YQ) ("17EdTech" or the "Company"), a leading education technology company in China, today announced its unaudited financial results for the third quarter of 2023. Third Quarter 2023 Highlights 1 • Net revenues were RMB45.1 million (US$6.2 million), compared with net revenues of RMB124.6 million in the th ...