Financial Data and Key Metrics Changes - First quarter gross billings increased by 74.6% compared to the same period last year, reaching US$21.9 million [5][9] - Net revenues for the first quarter were US$18.2 million, a 93.1% increase from the same quarter last year [8][9] - Gross margin for the first quarter was 77% [9] - Operating loss for Q1 was US$1.3 million, while net loss attributable to ordinary shareholders was US$1.5 million, a 63.2% decrease from the same quarter last year [10] Business Line Data and Key Metrics Changes - Q1 sales and marketing expenses were US$11.1 million, a 42.7% increase from the same quarter last year due to higher personnel costs and marketing activities [10] - Product development expenses for Q1 were US$1 million, a 9.8% increase from the same quarter last year [10] - General and administrative expenses for Q1 were US$3.2 million, a 23.8% increase from the same quarter last year [10] Market Data and Key Metrics Changes - The company is establishing leadership positions in many core markets and is seeing promising early returns from strategic investments in new regions [6] Company Strategy and Development Direction - The company is focused on optimizing its organizational structure, accelerating AI training and adoption, and deepening user engagement [6][7] - The management is confident in the sustainable growth trajectory and believes the business model is well-equipped to outperform incumbents in mature markets [6] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in the positive momentum for the second quarter and highlighted breakthroughs in existing markets [6] - The company expects net gross billings for the second quarter of 2025 to be between US$24.5 million and US$25.5 million [11] Other Important Information - Total cash, cash equivalents, and time deposits were US$29.5 million at the end of the first quarter [10] - Advances from students were US$47.9 million at the end of the first quarter [10] Q&A Session Summary Question: No questions were raised during the Q&A session - There were no questions at this time, and the conference call concluded without any inquiries [12]
51Talk(COE) - 2025 Q1 - Earnings Call Transcript