51Talk Reports Strong Growth Amidst Losses

China Online Education Group (COE) has released an update.

51Talk Online Education Group reported significant growth in the first quarter of 2024, with a 70.1% increase in net revenues to $9.4 million and a notable rise in active students by 83.3%. Despite these gains, the company experienced an operating loss and a net loss, albeit with a healthy cash reserve of $21.7 million. The company also forecasts a 7.5% to 11.5% growth in gross billings for the next quarter.

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