Core Insights - 51Talk Online Education Group reported significant growth in both gross billings and net revenues for the fiscal year 2024, with gross billings increasing by 74.4% year-over-year and net revenues rising by 87.0% year-over-year [5][22]. - The company achieved a positive operating cash flow of US$5.8 million for the full year 2024, indicating a strengthened cash position [5]. - The integration of AI into operations is expected to enhance operational efficiency and personalize learning experiences for students [6]. Full Year 2024 Financial and Operating Highlights - Net revenues for 2024 were US$50.7 million, an increase from US$27.1 million in 2023 [22]. - Gross profit for 2024 was US$39.5 million, a 90.1% increase from US$20.8 million in 2023 [22]. - The number of active students with attended lesson consumption reached approximately 95,000 in 2024, representing an 87.0% increase from approximately 50,800 in 2023 [21][22]. Fourth Quarter 2024 Financial Results - Net revenues for the fourth quarter of 2024 were US$16.2 million, a 117.3% increase from US$7.5 million in the same quarter last year [7]. - Gross billings for the fourth quarter of 2024 were US$21.4 million, a 93.4% growth from the fourth quarter of 2023 [8]. - The number of active students with attended lesson consumption was approximately 74,200 in the fourth quarter of 2024, an 83.2% increase from approximately 40,500 in the same quarter last year [7][8]. Operating Expenses - Total operating expenses for 2024 were US$47.6 million, a 38.1% increase from US$34.5 million in 2023, primarily due to increased sales and marketing expenses [23]. - Sales and marketing expenses for 2024 were US$33.4 million, a 41.3% increase from US$23.6 million in 2023 [24]. - General and administrative expenses for 2024 were US$10.6 million, a 37.4% increase from US$7.7 million in 2023 [26]. Loss from Operations - The operating loss for 2024 was US$8.0 million, an improvement from an operating loss of US$13.7 million in 2023 [27]. - The net loss for 2024 was US$7.2 million, compared to a net loss of US$15.0 million in 2023 [28]. Balance Sheet - As of December 31, 2024, the company had total cash and cash equivalents of US$29.2 million, up from US$23.4 million as of December 31, 2023 [20]. - Advances from students increased to US$45.1 million as of December 31, 2024, compared to US$27.2 million as of December 31, 2023 [21]. Outlook - For the first quarter of 2025, the company expects net gross billings to be between US$21.5 million and US$22.0 million, representing a sequential growth of 0.5% to 2.9% and an increase of approximately 71.2% to 75.2% from the same quarter last year [32].
51Talk Online Education Group Announces the Results for the Fourth Quarter and Full Year 2024