Tal’s Q3 revenue in 2021 fiscal year reached US $1.119 billion, up 35% year on year

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Sina science and technology news on the afternoon of January 21, Beijing time, tal announced today its financial report for the third quarter of the 2021 fiscal year ending November 30, 2020, with net revenue of US $1119.1 million, an increase of 35.0% compared with us $829.0 million in the same period last year. The net loss was $43.6 million, compared with a net profit of $19.6 million in the same period last year. Based on non GAAP, net profit was $10.4 million, compared with $49.7 million in the same period last year.
Third quarter results:
Net revenue was $1119.1 million, up 35.0% from $829.0 million in the same period last year.
Operating costs and expenses were $1255.9 million, up 65.1% from $760.8 million in the same period. Excluding stock compensation expenses, operating costs and expenses under non US GAAP were US $1201.8 million, up 64.5% from US $730.7 million in the same period of the two years.
Revenue cost was US $515.6 million, up 42.5% from US $361.8 million in the same period of last year. Excluding stock compensation expenses, non US GAAP revenue cost was US $515.2 million, up 42.5% from US $361.6 million in the same period of last year
Operating loss was $127.4 million, compared with operating profit of $69.4 million in the same period last year.
Based on non GAAP, the operating loss was $73.4 million, compared with a year earlier operating profit of $99.6 million.
The net loss was $43.6 million, compared with a net profit of $19.6 million in the same period last year.
Based on non GAAP, net profit was $10.4 million, compared with $49.7 million in the same period last year.
The basic and diluted loss of each American Depository Share (ads) was US $0.07. Based on non US GAAP, the basic and diluted earnings per ads are both US $0.02.
As of November 30, 2020, tal had $5.098 billion in cash, cash equivalents and short-term investments, compared with $2.219.3 billion as of February 29, 2020.
The total number of registered students in regular price long-term courses was 3397030, up 46.5% from 2318000 in the same period last year.
Results for the first nine months of fy2021 (as of November 30, 2020)
Net revenue was $3.133.1 billion, up 29.7% from $2.415.6 billion in the same period last year.
The operating loss was $141 million, compared with an operating profit of $178.7 million in the same period last year.
Based on non GAAP, the operating loss was $16.4 million, compared with a year earlier operating profit of $263.8 million.
Net profit was $53 million, compared with a net loss of $20.1 million in the same period last year.
Based on non GAAP, net profit was $177.6 million, compared with $65 million in the same period last year.
The basic and diluted earnings per ads were $0.09 and $0.08, respectively. Based on non US GAAP, the basic and diluted earnings per ads are US $0.29 and US $0.28 respectively.
In fiscal 2021, the average enrollment of regular price long-term courses was 3995210, 60.9% compared with 2483100 in the same period last year.
As of November 30, 2020, tal has 990 teaching centers (covering 102 cities) and 871 teaching centers (covering 70 cities) as of February 29, 2020.
Performance Outlook:
Tal expects net revenue to reach $1175 million to $12008 million in the fourth quarter of fiscal 2021, up 37% to 40% year on year.
Teleconferencing:
Tal management team will hold a conference call at 8:00 a.m. EST on January 21, 2021 (9:00 p.m. Beijing time on January 21) https://ir.100tal.com/ The teleconference will be broadcast live and recorded.