Core Viewpoint - YXT.com Group Holding Limited reported its financial results for the first nine months of 2024, showing a significant reduction in net loss and a strategic shift towards large enterprise accounts in the digital corporate learning industry in China [1][3]. Financial Performance - Total revenues for the first nine months of 2024 were RMB241.7 million (US$34.4 million), down from RMB328.8 million in the same period of the previous year, reflecting a decrease of approximately 26.5% [2][4]. - Gross margin improved to 60.4% from 59.3% year-over-year [2]. - The net loss narrowed to RMB14.9 million (US$2.1 million) compared to a net loss of RMB245.3 million in the same period last year, indicating a significant improvement [2][11]. - The adjusted net loss was RMB123.1 million (US$17.5 million), down from RMB196.1 million in the same period of the previous year [11][29]. Customer Metrics - The number of subscription customers decreased to 2,428 as of September 30, 2024, from 3,039 a year earlier. This decline was influenced by the deconsolidation of CEIBS Publishing Group Limited, which accounted for 571 customers [2]. - Net revenue retention rates for subscription customers fell to 101.0% from 104.8% year-over-year, attributed to the strategic focus on large enterprise accounts [2]. Revenue Breakdown - Revenues from corporate learning solutions totaled RMB240.3 million (US$34.2 million), down from RMB318.6 million in the same period last year [5]. - Subscription-based corporate learning solutions generated RMB221.7 million (US$31.6 million), a decrease from RMB271.1 million, primarily due to the deconsolidation of CEIBS PG and operational adjustments [5]. - Non-subscription based corporate learning solutions revenues were RMB18.6 million (US$2.7 million), down from RMB47.5 million, reflecting a strategic shift towards subscription-based offerings [6]. Cost Management - Cost of revenues decreased by 28.4% to RMB95.8 million (US$13.6 million) from RMB133.8 million, mainly due to the deconsolidation of CEIBS PG and reduced instructor compensation costs [7]. - Sales and marketing expenses were reduced by 38.9% to RMB105.8 million (US$15.1 million) from RMB173.2 million, reflecting cost management initiatives [8]. - Research and development expenses decreased by 33.8% to RMB90.6 million (US$12.9 million) from RMB136.8 million, also due to operational optimizations [9]. Management Commentary - The management expressed optimism about long-term growth prospects, emphasizing the importance of digital learning solutions and the company's strengthening position in the large enterprise segment [3]. - The CFO highlighted the effectiveness of operational optimization initiatives that contributed to the significant reduction in net loss [3].

SUZHOU, China, Nov. 27, 2024 (GLOBE NEWSWIRE) -- YXT.com Group Holding Limited (NASDAQ: YXT) (“YXT.com” or the “Company”), a leader and disruptor of the digital corporate learning industry in China, today announced changes to its senior management team. Mr. Teng Zu has resigned from his position as the chief executive officer (“CEO”) due to personal reasons, effective today. Mr. Zu’s resignation did not result from any disagreement with the Company. In addition, the board of directors of the Company (the “B ...

SUZHOU, China, Nov. 21, 2024 (GLOBE NEWSWIRE) -- YXT.com Group Holding Limited (“YXT.com” or the “Company”), a leader and disruptor of the digital corporate learning industry in China, today announced that it plans to report its financial results for the nine months ended September 30, 2024, after the U.S. market closes on November 26, 2024. The Company’s management team will hold a conference call at 8:00 P.M. U.S. Eastern Time on Tuesday, November 26, 2024, (9:00 A.M. Beijing Time on Wednesday, November 2 ...