Financial Data and Key Metrics Changes - The company reported gross billings growth of 74.4% year-over-year and net revenues increased by 87% year-over-year for the full financial year 2024 [9] - Fourth quarter net revenues were $15.2 million, a 117.3% increase from the same quarter last year [12] - Gross margin for the fourth quarter was 77.5% [12] - Q4 operating loss was $0.9 million, while net loss attributable to ordinary shareholders was $1.4 million, representing an 80.1% and 75.7% decrease from the same quarter last year, respectively [14] - The company's total cash, cash equivalents, and time deposits were $29.2 million at the end of the fourth quarter [15] Business Line Data and Key Metrics Changes - Q4 gross billings grew by 93.4% from the same quarter last year to $21.4 million [12] - Q4 operating expenses were $13.4 million, a 35.6% increase compared to the same quarter last year, driven by higher sales and marketing expenses [13] Market Data and Key Metrics Changes - The company is expanding into new geographic markets to drive further growth [9] - Advances from students were $45.1 million at the end of the fourth quarter [15] Company Strategy and Development Direction - The company is focusing on building local teams and developing more localized marketing and product content [9] - AI integration is a key focus, aimed at improving operational efficiency and personalizing course plans for students [10] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about 2025 being a pivotal year for AI adoption and further efficiency improvements [10] - The company expects net gross billings for the first quarter of 2025 to be between $21.5 million and $22 million [15] Other Important Information - The company achieved a full year positive operating cash flow of $5.8 million [9] - Q4 sales and marketing expenses were $10.1 million, a 40.9% increase from the same quarter last year [13] Q&A Session Summary Question: Inquiry from Damon Zing with Investments - The specific content of the questions and answers during this segment was not provided in the transcript [17][18][20]
51Talk(COE) - 2024 Q4 - Earnings Call Transcript