17 Education & Technology Group, Inc. (YQ) has released an update.
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17 Education & Technology Group Inc. reported an increase in net revenues to RMB 47.3 million in Q4 2023, up from RMB 39.6 million in Q4 2022, marking a 19.7% year-over-year growth. Despite the revenue growth, the company faced a net loss of RMB 98.4 million, a slight improvement from RMB 103.1 million in the prior year’s quarter. The losses are attributed to higher costs, including an increase in sales and marketing expenses, but were partially offset by decreased research and development and general and administrative expenses.
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