Financial Performance - Total revenues for the first six months of 2025 were RMB152.9 million (US$21.3 million), a decrease of 7.8% compared to RMB165.8 million in the same period last year[5]. - Revenues from subscription-based corporate learning solutions were RMB144.7 million (US$20.2 million), a decrease from RMB151.9 million in the same period last year, due to strategic operational adjustments[13]. - Total revenues for the six months ended June 30, 2025, were RMB 152,894, a decrease of 7.4% from RMB 165,756 in the same period of 2024[31]. Profitability - Net loss was RMB73.9 million (US$10.3 million), compared to a net income of RMB21.4 million in the same period last year, while adjusted net loss improved to RMB64.0 million (US$8.9 million), a decrease of 15.0%[6][14]. - Net loss attributable to YXT.COM Group Holding Limited for the six months ended June 30, 2025, was RMB 73,878, compared to a net income of RMB 21,659 in the same period of 2024[34]. - Adjusted net loss for the six months ended June 30, 2025, was RMB 64,005, compared to an adjusted loss of RMB 75,316 in the same period of 2024[36]. Customer Metrics - The number of subscription customers decreased to 2,358 as of June 30, 2025, from 2,481 as of June 30, 2024, reflecting a strategic shift towards large enterprise accounts[6]. Revenue Streams - Monthly Recurring Revenue (MRR) from AI-related products was RMB0.5 million (US$69.9 thousand), an increase from RMB0.2 million as of June 30, 2024[6]. Expenses - Research and development expenses decreased by 19.2% to RMB48.3 million (US$6.7 million), attributed to improved R&D ROI and operational adjustments[11]. - Sales and marketing expenses were reduced by 13.5% to RMB61.9 million (US$8.6 million), reflecting enhanced productivity in customer acquisition and retention[10]. - General and administrative expenses increased by 20.4% to RMB54.2 million (US$7.6 million), primarily due to higher professional service fees and share-based compensation[12]. - Research and development expenses for the six months ended June 30, 2025, were RMB 48,277, down from RMB 59,772 in the same period of 2024[31]. Cash and Assets - Cash and cash equivalents as of June 30, 2025, were RMB235.7 million (US$32.9 million), down from RMB418.2 million as of December 31, 2024[16]. - Total assets as of December 31, 2024, were RMB 821,936, an increase from RMB 623,156 as of June 30, 2025[28]. - Total current liabilities as of June 30, 2025, were RMB 394,038, slightly up from RMB 390,230 as of December 31, 2024[28]. - Shareholders' equity decreased to RMB 160,270 as of June 30, 2025, from RMB 227,230 as of December 31, 2024[28]. Other Financial Metrics - The company reported a foreign exchange gain of RMB 489 for the six months ended June 30, 2025, compared to a gain of RMB 33 in the same period of 2024[31]. - The weighted average number of ordinary shares increased to 179,881,274 for the six months ended June 30, 2025, from 49,329,740 in the same period of 2024[34]. - The company recorded a gain on deconsolidation of CEIBS Publishing Group of RMB 78,760 in the six months ended June 30, 2024, which did not recur in 2025[36]. Gross Margin - Gross margin increased to 65.1%, up 4.0 percentage points from 61.1% in the same period last year, driven by a focus on higher-value offerings and cost optimization[6][9].
Yxt.Com Group Holding Limited(YXT) - 2025 Q2 - Quarterly Report