17 Education & Technology Group Inc. Announces Second Quarter 2024 Unaudited Financial Results
17 Education & Technology Group Inc. - American Depositary Shares (YQ)
Company Research
Source: GlobeNewswire
BEIJING, Sept. 05, 2024 (GLOBE NEWSWIRE) -- 17 Education & Technology Group Inc. (NASDAQ: YQ) (“17EdTech” or the “Company”), a leading education technology company in China, today announced its unaudited financial results for the second quarter of 2024. Second Quarter 2024 Highlights1 Net revenues were RMB67.5 million (US$9.3 million), compared with net revenues of RMB69.2 million in the second quarter of 2023.Gross margin was 16.0%, compared with 48.3% in the second quarter of 2023.Net loss was RMB55.7 million (US$7.7 million), compared with net loss of RMB47.9 million in the second quarter of 2023.Net loss as a percentage of net revenues was negative 82.5% in the second quarter of 2024, compared with negative 69.2% in the second quarter of 2023.Adjusted net loss2 (non-GAAP), which excluded share-based compensation expenses of RMB13.1 million (US$1.8 million), was RMB42.6 million (US$5.9 million), compared with adjusted net loss (non-GAAP) of RMB28.6 million in the second quarter
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News
- 17 Education & Technology Group Second Quarter 2024 Earnings: CN¥7.18 loss per share (vs CN¥5.01 loss in 2Q 2023) [Yahoo! Finance]Yahoo! Finance
- 17 Education & Technology Group, Inc. (YQ) Q2 2024 Earnings Conference Call Transcript [Seeking Alpha]Seeking Alpha
- 17 Education & Technology Group Inc. to Report Second Quarter 2024 Unaudited Financial Results on September 4, 2024GlobeNewswire
YQ
Sec Filings
- 11/15/24 - Form SC
- 9/5/24 - Form 6-K
- YQ's page on the SEC website