Gaotu(US:GOTU)2021-09-22 17:51Company Overview - Gaotu Techedu Inc's mission is to make education better through technology[6] - The company focuses on online live large-class tutoring[8] and is the 3rd largest in China based on 2018 gross billings[8] - The company utilizes a centralized recruitment system to disseminate China's high-quality teaching resources[20] Financial Performance - The company experienced accelerating year-over-year (YoY) increases in adjusted gross profit and net revenues[37] - There was a 4% YoY growth in paid enrollments and a 12% YoY growth in gross billings[38] - In Q2 2021, the GAAP operating loss was RMB 855 million, while the adjusted operating loss excluded share-based compensation[39] - In Q2 2021, the GAAP net loss was RMB 919 million, while the adjusted net loss excluded share-based compensation[39] - The company had RMB 5909 million in cash and cash equivalents and RMB 5487 million in short-term and long-term investments as of the end of Q2 2021[40] Educational Approach - The company emphasizes superior education quality and robust proprietary technology infrastructure[13, 32] - The company's education content development process involves instructors, course development experts, and continuous student feedback[26, 29] - The company aims to ignite interest, cultivate habits, and shape personality in students[43]