On the evening of December 9, Beijing time, Sina Tech News (NYSE: COE) released its financial performance report for the third quarter of 2019. Financial reports show that 51Talk's third-quarter cash revenue was 547.3 million yuan. The company's overall net revenue was 409.2 million yuan. The gross margin was 71.7%, an increase of 7.9 percentage points over the previous year. Non-GAAP net loss narrowed to $01.8 million, down 97.8% year on year and 93.2% month on month. Operating cash flow of 123.2 million yuan reached a record high, an increase of 124.9 million yuan over the same period last year.

Key financial and operating data for the third quarter of 2019

Net revenue was RMB 409.2 million, compared to RMB 303.2 million for the same period last year;

Cash income was RMB 547.3 million, compared to RMB 424.5 million for the same period last year;

The gross profit margin was 77%, compared to 63.8% in the same period last year; the year-on-year increase was 7.9 percentage points;

GAAP net loss was $05.3 billion, a decrease of 94.1% over the previous quarter; the previous quarter was $302.4 million, a decrease of 83.6% over the previous quarter;

Non-GAAP net loss was $01.8 billion, a year-on-year decrease of 97.8%; the previous quarter was $26.7 million, a decrease of 93.2% over the previous quarter;

The one-to-one business achieved non-GAAP profit for the first time, and the net profit of the one-to-one business was 02.7 billion yuan;

Operating cash flow was 123.2 million yuan, and operating cash outflow for the same period last year was 0.01.7 million yuan.