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51Talk Online Education Group (COE) Q2 2024 Earnings Call Transcript Summary

Futu News ·  Aug 23 21:27  · Conference Call

The following is a summary of the 51Talk Online Education Group (COE) Q2 2024 Earnings Call Transcript:

Financial Performance:

  • 51Talk reported a 75.1% increase in net revenues to US$11 million for Q2.

  • The company saw a substantial rise in gross billings by 61.3% to US$15.9 million.

  • Operating loss narrowed to US$2.4 million, an 18.1% decrease from the last year; net loss reduced by 56.5% to US$1.3 million.

Business Progress:

  • The company is actively expanding globally with targeted investments enhancing team efficiency and customer experience.

  • Focused on increasing customer retention rates and referrals through strategic localization and leveraging AI to meet local market demands.

Opportunities:

  • 51Talk's strategic investments in new markets align with their goal of becoming a globally leading EdTech company.

  • Anticipate continued growth momentum into Q3, with forecasted gross billings between US$17 million and US$18 million.

Risks:

  • No explicit risks/opportunities detected.

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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