China Online Education Group (COE) Reports Q4 EPS of $0.03

China Online Education Group (NYSE: COE) reported Q4 EPS of $0.03. Revenue for the quarter came in at $57.2 million.

"We concluded 2019 with an outstanding fourth quarter marked with multiple financial and operational achievements," said Mr. Jack Jiajia Huang, Founder, Chairman and Chief Executive Officer of 51Talk. "On the financial side, net revenues exceeded the top end of our guidance by 2.0%. Even more notable, we achieved our very first quarterly consolidated break-even in our company history. As we continued to optimize execution on our strategically focused K-12 one-on-one mass-market offerings in non-tier-one cities[3], our K-12 mass-market one-on-one gross billings increased 37.2% year-over-year to RMB501.7 million, representing 86.2% of our total gross billings.

"Over the past two months, Chinese citizens have displayed tremendous courage and resilience while facing the numerous challenges presented by the coronavirus epidemic. From an educational standpoint, as school campuses have remained closed, hundreds of millions of students and teachers have turned to online platforms in an effort to maintain educational continuity. We believe that an even deeper and long-lasting awareness of the power of online education has developed, especially in lower-tier cities. We are confident we can leverage our powerful online platform and our expertise in English language learning to make the high quality education resources available to more people," concluded Mr. Huang.

"In the fourth quarter we continued our trend of establishing new historical highs in net income, gross margin, and operating cash flow," said Mr. Min Xu, Chief Financial Officer of 51Talk. "Most significantly, we celebrated our first profitable quarter with GAAP net income of RMB1.5 million and Non-GAAP net income of RMB5.3 million driven by robust top line coupled with improvements in operating efficiencies. I am also delighted to share that we achieved record high operating cash flow of RMB167.1 million. Additionally, our cash position increased 47.9% year-over-year and exceeded 1 billion RMB for the first time. Looking into 2020, we believe that our healthy growth strategy and sharp focus on operational efficiencies, along with new market opportunities due to developing trends, present a continued path to future growth."

For earnings history and earnings-related data on China Online Education Group (COE) click here.

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