17 Education & Technology Group Inc. Announces Third Quarter 2024 Unaudited Financial Results
17 Education & Technology Group Inc. - American Depositary Shares (YQ)
Company Research
Source: GlobeNewswire
BEIJING, Dec. 12, 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 third quarter of 2024. Third Quarter 2024 Highlights1 Net revenues were RMB59.6 million (US$8.5 million), compared with net revenues of RMB45.1 million in the third quarter of 2023.Gross margin was 60.9%, compared with 54.1% in the third quarter of 2023.Net loss was RMB17.4 million (US$2.5 million), compared with net loss of RMB72.9 million in the third quarter of 2023.Net loss as a percentage of net revenues was negative 29.2% in the third quarter of 2024, compared with negative 161.6% in the third quarter of 2023.Adjusted net loss2 (non-GAAP), which excluded share-based compensation expenses of RMB11.7 million (US$1.7 million), was RMB5.7 million (US$0.8 million), compared with adjusted net loss (non-GAAP) of RMB53.7 million in the third quarter of 2023.
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News
- 17 Education & Technology Group, Inc. (YQ) Q3 2024 Earnings Conference Call Transcript [Seeking Alpha]Seeking Alpha
- 17 Education & Technology Group Inc. Announces Third Quarter 2024 Unaudited Financial Results [Yahoo! Finance]Yahoo! Finance
- 17 Education & Technology Group Inc. to Report Third Quarter 2024 Unaudited Financial Results on December 11, 2024GlobeNewswire
YQ
Sec Filings
- 12/12/24 - Form 6-K
- 11/15/24 - Form SC
- YQ's page on the SEC website