QuantaSing Group Limited (NASDAQ: QSG) (“QuantaSing” or the
“Company”), a leading online learning service provider in China,
today announced its unaudited financial results for the second
quarter of the fiscal year ending June 30, 2024 (the “second
quarter of FY 2024”, which refers to the quarter from October 1,
2023 to December 31, 2023).
Highlights for the Second Quarter of FY
2024
- Revenues for the
second quarter of FY 2024 were RMB980.5 million (US$138.1 million),
representing an increase of 12.8% from the first quarter of the
fiscal year ending June 30, 2024 (the “first quarter of FY 2024”)
and an increase of 24.7% from the second quarter of the fiscal year
ended June 30, 2023 (the “second quarter of FY 2023”).
- Gross billings of
individual online learning services1 for
the second quarter of FY 2024 were RMB944.6 million (US$133.0
million), representing an increase of 24.0% from the first quarter
of FY 2024 and an increase of 15.4% from the second quarter of FY
2023.
- Net income for the
second quarter of FY 2024 was RMB107.6 million (US$15.2 million),
compared with RMB66.7 million in the first quarter of FY 2024, and
a net loss of RMB41.4 million in the second quarter of FY
2023.
- Adjusted net
income2 for the second quarter of FY 2024
was RMB103.9 million (US$14.6 million), compared with RMB94.0
million in the first quarter of FY 2024, and RMB21.8 million in the
second quarter of FY 2023.
- Total registered
users increased by 44.6% to approximately 112.4 million as
of December 31, 2023, from 77.8 million as of December 31,
2022.
- Paying learners
increased by 24.2% year over year to approximately 0.4 million in
the second quarter of FY 2024.
Mr. Peng Li, Chairman and Chief Executive
Officer of QuantaSing, commented, “We are pleased to report solid
topline growth for the quarter, underscoring the success of our
strategic initiatives to expand and diversify our course offerings.
Our focus on catering to the growing demand for senior learner
courses has been particularly rewarding, and we remain committed to
addressing the spiritual and cultural needs of the middle-aged and
elderly population, with the goal of empowering everyone to lead
fulfilling lives in their golden years. In addition to our ongoing
efforts to drive revenue growth and optimize cost efficiencies, we
are actively pursuing new initiatives that hold significant
potential for expanding and diversifying our business. We remain
steadfast in our commitment to sustaining our growth trajectory and
delivering sustainable value to our shareholders.”
Mr. Dong Xie, Chief Financial Officer of
QuantaSing, added, “We continued to build on our growth trajectory
in the second quarter of fiscal year 2024, with total revenues
increasing by 24.7% year over year and 12.8% sequentially,
primarily driven by our skills upgrading courses. During the
quarter, we remained committed to optimizing efficiencies and cost
structures. Looking ahead, we will strengthen our core business and
prudently develop new business initiatives to drive sustainable
growth and deliver value to our shareholders.”
Financial Results for the Second Quarter
of FY 2024
Revenues
Revenues increased by 24.7% year over year to
RMB980.5 million (US$138.1 million) in the second quarter of FY
2024, primarily driven by the growth in revenues from skills
upgrading courses, which primarily consist of courses aiming to
improve the soft skills of individuals, such as short-video
production course targets freelancers or amateurs who create video
content and intend to improve their skillsets3.
-
Revenues from individual online learning services increased by
24.1% year over year to RMB873.6 million (US$123.0 million) in the
second quarter of FY 2024, up from RMB704.0 million in the second
quarter of FY 2023. This growth was primarily due to 1) skills
upgrading courses3 increased to RMB456.4 million (US$64.3 million)
in the second quarter of FY 2024 from RMB192.9 million in the
second quarter of FY 2023, and 2) recreation and leisure courses3
increased to RMB96.1 million (US$13.5 million) in the second
quarter of FY 2024 from RMB12.2 million in the second quarter of FY
2023, partially offset by the decrease of RMB177.9 million (US$25.1
million) in revenues from financial literacy courses.
-
Revenues from enterprise services were RMB57.6 million (US$8.1
million) in the second quarter of FY 2024, compared to RMB82.3
million in the second quarter of FY 2023, representing a
year-over-year change of 30.0%, primarily due to a change in
revenues from related party transactions.
-
Revenues from others increased to RMB49.3 million (US$7.0 million)
in the second quarter of FY 2024 from RMB0.1 million in the second
quarter of FY 2023, mainly driven by the increase in revenues from
the Company's newest business endeavor, live e-commerce, which is
aligned with its commitment to diversified revenue streams.
Cost of revenues
Cost of revenues was RMB145.0 million (US$20.4
million) in the second quarter of FY 2024, compared to RMB99.3
million in the second quarter of FY 2023, representing a change of
46.1%. The increase was primarily due to increased labor
outsourcing costs of RMB26.1 million (US$3.7 million) and higher
procurement costs of RMB23.7 million (US$3.3 million), and was
partially offset by a RMB16.5 million (US$2.3 million) decrease in
staff costs.
Sales and marketing
expenses
Sales and marketing expenses were RMB657.1
million (US$92.6 million) in the second quarter of FY 2024,
compared to RMB622.9 million in the second quarter of FY 2023,
representing a change of 5.5%. The change was mainly due to an
increase in labor outsourcing costs of RMB85.3 million (US$12.0
million) and marketing and promotion expenses of RMB64.5 million
(US$9.1 million), partially offset by a decrease in staff costs of
RMB120.5 million (US$17.0 million), which includes a decrease in
share-based compensation expenses of RMB31.0 million (US$4.4
million). The decrease in share-based compensation was primarily
driven by 1) the reversal of share-based compensation expenses
resulting from employee turnover during the second quarter of FY
2024, and 2) less share-based compensation expenses recognized for
the second quarter of FY 2024 in accordance with the corresponding
accounting treatment.
Research and development
expenses
Research and development expenses were RMB41.0
million (US$5.8 million) in the second quarter of FY 2024, compared
to RMB64.3 million in the second quarter of FY 2023, representing a
decrease of 36.2%. The decrease was primarily due to lower
share-based compensation expenses of RMB19.0 million (US$2.7
million).
General and administrative
expenses
General and administrative expenses were RMB35.1
million (US$4.9 million) in the second quarter of FY 2024, compared
to RMB44.5 million in the second quarter of FY 2023, representing a
decrease of 21.3%. The decrease was primarily due to lower
share-based compensation expenses and office expenses, partially
offset by an increase in professional service fees.
Net income and adjusted net
income
Net income was RMB107.6 million (US$15.2
million) in the second quarter of FY 2024, compared with a net loss
of RMB41.4 million in the second quarter of FY 2023. Adjusted net
income was RMB103.9 million (US$14.6 million) in the second quarter
of FY 2024, compared with RMB21.8 million in the second quarter of
FY 2023.
Earnings per share and adjusted earnings
per share4
Basic and diluted net income per share were
RMB0.65 (US$0.09) and RMB0.64 (US$0.09), respectively, in the
second quarter of FY 2024, compared with basic and diluted net loss
per share of RMB0.89 in the second quarter of FY 2023. Basic and
diluted adjusted net income per share were RMB0.63 (US$0.09) and
RMB0.62 (US$0.09), respectively, in the second quarter of FY 2024,
compared with basic and diluted adjusted net income per share of
RMB0.07 in the second quarter of FY 2023.
Balance Sheet
As of December 31, 2023, the Company had cash
and cash equivalents and short-term investments of RMB1,050.8
million (US$148.0 million), compared with RMB930.6 million as of
June 30, 2023.
Financial Outlook
Based on currently available information, for
the third quarter of FY 2024 (which refers to the quarter from
January 1, 2024 to March 31, 2024), the Company expects its
revenues to be in the range of RMB900 million to RMB930 million,
representing a year-over-year increase of 11.5% to 15.2%. The
forecasts reflect the Company’s current and preliminary views on
the market and its operating conditions, which are subject to
change.
Recent Developments
On June 9, 2023, the Company announced that its
board of directors had approved a share repurchase program of up to
US$20.0 million of the Company’s Class A ordinary shares in the
form of American Depositary Shares (“ADSs”) for a 12-month period
beginning on June 9, 2023 (the “Share Repurchase Program”). As of
December 31, 2023, the Company had accumulatively repurchased an
aggregate of approximately 1.6 million ADSs for approximately
US$7.8 million under the Share Repurchase Program.
On January 18, 2024, the Company announced the
introduction of its first private label Chinese Baijiu brand,
YUNTING. YUNTING is crafted in a core production facility located
in the town of Maotai in China, a world-renowned Baijiu production
site protected by Geographical Indication.
On January 22, 2024, the Company announced that
Mr. Chenyang Wei was appointed as an independent director of
QuantaSing and as a member of the Audit Committee.
Starting in early 2023, leveraging its
cumulative insights into the adult learning sector and profound
understanding of individual needs, the Company has started to
explore the new e-commerce business (the “E-commerce Business”),
primarily focusing on the livestreaming sales of Baijiu. Since the
first quarter of FY 2024, the Company has further expanded its
E-commerce Business to cover a wide range of merchandise and
services catering to the demands of its users.
Since the first quarter of FY 2024, the Company
has also started to explore AI and technology related business (the
“AI and Technology Business”), leveraging its track record of
empowering its online learning business with robust technological
capabilities. The AI and Technology Business will primarily focus
on the application of AI technology and other AI related area with
potential business opportunities and synergies with the Company’s
existing technology infrastructure and business. The Company has
undertaken and will continue to undertake steps to align its
corporate structure and management with the development needs of
each business line and achieve management efficiency.
Conference Call Information
The Company's management team will hold a
conference call at 07:00 A.M. Eastern Time on Thursday, March 7,
2024 (08:00 P.M. Beijing Time on the same day) to discuss the
financial results. Listeners may access the call by dialing the
following numbers:
International: |
1-412-902-4272 |
United States Toll Free: |
1-888-346-8982 |
Mainland China Toll Free: |
4001-201203 |
Hong Kong Toll Free: |
800-905945 |
Conference ID: |
QuantaSing Group Limited |
|
|
The replay will be accessible through March 14,
2024 by dialing the following numbers:
International: |
1-412-317-0088 |
United States Toll Free: |
1-877-344-7529 |
Access Code: |
8029802 |
|
|
A live and archived webcast of the conference
call will be available at the Company's investor relations website
at https://ir.quantasing.com.
Non-GAAP Financial Measures
To supplement the Company’s consolidated
financial statements, which are prepared and presented in
accordance with U.S. GAAP, the Company uses gross billings of
individual online learning services, adjusted net income/(loss) and
basic and diluted adjusted net income/(loss) per share as its
non-GAAP financial measures. Gross billings of individual online
learning services for a specific period represents revenues of the
Company’s individual online learning services net of the changes in
deferred revenues in such period, further adjusted by value-added
tax and certain cost deduction in such period. Adjusted net
income/(loss) represents net (loss)/income excluding share-based
compensation expense. Basic and diluted adjusted net income/(loss)
per share represents adjusted net income/(loss) attributable to
ordinary shareholders of QuantaSing Group Limited divided by
weighted average number of ordinary shares outstanding during the
periods used in computing adjusted net income/(loss) per share,
basic and diluted. The Company believes that the non-GAAP financial
measures provide useful information about the Company's results of
operations, enhance the overall understanding of the Company's past
performance and future prospects and allow for greater visibility
with respect to key metrics used by the Company's management in its
financial and operational decision-making.
The non-GAAP financial measures are not defined
under U.S. GAAP and are not presented in accordance with U.S. GAAP.
The non-GAAP financial measures have limitations as analytical
tools, and when assessing the Company's operating performance,
investors should not consider them in isolation, or as a substitute
for revenue, net (loss)/income, net (loss)/income per share, basic
and diluted or other consolidated statements of operations data
prepared in accordance with U.S. GAAP. The Company's definition of
non-GAAP financial measures may differ from those of industry peers
and may not be comparable with their non-GAAP financial
measures.
The Company mitigates these limitations by
reconciling the non-GAAP financial measures to the most comparable
U.S. GAAP performance measures, all of which should be considered
when evaluating the Company's performance. For more information on
these non-GAAP financial measures, please see the table captioned
“QuantaSing Group Limited Unaudited Reconciliation of GAAP and
Non-GAAP Results” near the end of this release.
Exchange Rate Information
This announcement contains translations of
certain Renminbi (“RMB”) amounts into U.S. dollars (“US$”) at
specified rates solely for the convenience of the reader. Unless
otherwise stated, all translations from Renminbi to U.S. dollars
were made at the rate of RMB7.0999 to US$1.00, the exchange rate on
December 29, 2023, set forth in the H.10 statistical release of the
Federal Reserve Board. The Company makes no representation that the
Renminbi or U.S. dollars amounts referred to could be converted
into U.S. dollars or Renminbi, as the case may be, at any
particular rate or at all.
Safe Harbor Statements
This announcement contains forward-looking
statements within the meaning of Section 27A of Securities Act of
1933, as amended and Section 21E of the Securities Exchange Act of
1934, as amended and the Private Securities Litigation Reform Act
of 1955. All statements other than statements of historical or
current fact included in this press release are forward-looking
statements, including but not limited to statements regarding
QuantaSing’s financial outlook, beliefs and expectations. These
statements can be identified by terminology such as “will,”
“expects,” “anticipates,” “future,” “intends,” “plans,” “believes,”
“estimates,” “potential,” “continue,” “ongoing,” “targets,”
“guidance” and similar statements. Among other things, the
Financial Outlook in this announcement contains forward-looking
statements. The Company may also make written or oral
forward-looking statements in its periodic reports to the U.S.
Securities and Exchange Commission (the “SEC”), in its annual
report to shareholders, in press releases, and other written
materials and in oral statements made by its officers, directors or
employees to third parties. Forward-looking statements involve
inherent risks and uncertainties. A number of factors could cause
actual results to differ materially from those contained in any
forward-looking statement, including but not limited to the
following: the Company’s growth strategies; its future business
development, results of operations and financial condition; its
ability to attract and retain new users and learners and to
increase the spending and revenues generated from users and
learners; its ability to maintain and enhance the recognition and
reputation of its brand; its expectations regarding demand for and
market acceptance of its services and products; trends and
competition in China’s adult learning market; changes in its
revenues and certain cost or expense items; the expected growth of
China’s adult learning market; PRC governmental policies and
regulations relating to the Company’s business and industry,
general economic and political conditions in China and globally,
and assumptions underlying or related to any of the foregoing.
Further information regarding these and other risks, uncertainties,
or factors is included in the Company’s filings with the SEC,
including, without limitation, the final prospectus related to the
IPO filed with the SEC dated January 24, 2023. You are cautioned
not to place undue reliance on these forward-looking statements,
which speak only as of the date this press release. All
forward-looking statements are qualified in their entirety by this
cautionary statement, and the Company undertakes no obligation to
revise or update any forward-looking statements to reflect events
or circumstances after the date hereof.
About QuantaSing Group Limited
QuantaSing is a leading online service provider
in China dedicated to improving people’s quality of life and
well-being by providing lifelong personal learning and development
opportunities. The Company is the largest service provider in
China’s online adult learning market and China’s adult personal
interest learning market in terms of revenue, according to a report
by Frost & Sullivan based on data from 2022. By leveraging its
proprietary tools and technology, QuantaSing offers
easy-to-understand, affordable, and accessible online courses to
adult learners, empowering users to pursue personal development.
Leveraging its extensive experience in individual online learning
services and its robust technology infrastructure, the Company has
expanded its services to corporate clients, and diversified its
operations into its e-commerce business and its AI and technology
business.
For more information, please visit:
https://ir.quantasing.com.
Contact
Investor Relations Leah Guo QuantaSing Group Limited Email:
ir@quantasing.com Tel: +86 (10) 6493-7857
Robin Yang, Partner ICR, LLC Email:
QuantaSing.IR@icrinc.com Phone: +1 (212) 537-0429
_________________________________
1 Gross billings of individual online learning
services is a non-GAAP financial measure. For a reconciliation of
revenues of individual online learning services to gross billings
of individual online learning services, see the “Non-GAAP Financial
Measures” section and the table captioned “QuantaSing Group Limited
Unaudited Reconciliation of GAAP and Non-GAAP Results” below.2
Adjusted net income/(loss) is a non-GAAP financial measure. For a
reconciliation of net (loss)/income to adjusted net income/(loss),
see the “Non-GAAP Financial Measures” section and the table
captioned “QuantaSing Group Limited Unaudited Reconciliation of
GAAP and Non-GAAP Results” below.3 The Company has introduced a new
presentation of its revenues, which split other personal interest
courses into skills upgrading courses and recreation and leisure
courses, to better align with its business strategies and provide
useful and updated information to investors. Skills upgrading
courses mainly include short-video production courses and memory
training courses. Recreation and leisure courses mainly include
personal well-being courses, electronic keyboard courses and
standing meditation courses. The historical revenues presentation
has been conformed to the current presentation.4 Basic and diluted
adjusted net income/(loss) per share are non-GAAP financial
measures. For a reconciliation of basic and diluted net
(loss)/income per share to basic and diluted adjusted net
income/(loss) per share, see the “Non-GAAP Financial Measures”
section and the table captioned “QuantaSing Group Limited Unaudited
Reconciliation of GAAP and Non-GAAP Results” below.
|
QUANTASING GROUP LIMITEDUNAUDITED
CONDENSED CONSOLIDATED BALANCE SHEETS(Amounts in
thousands, except for share and per share data) |
|
|
As of |
|
June 30,2023 |
|
December 31,2023 |
|
December 31,2023 |
|
RMB |
|
RMB |
|
US$ |
|
|
|
|
|
|
ASSETS |
|
|
|
|
|
Current
assets: |
|
|
|
|
|
Cash and cash equivalents |
764,281 |
|
862,917 |
|
121,539 |
Short-term investments |
166,303 |
|
187,864 |
|
26,460 |
Accounts receivable, net |
12,251 |
|
19,448 |
|
2,739 |
Amounts due from related parties |
29,116 |
|
- |
|
- |
Inventory, net |
- |
|
14,699 |
|
2,070 |
Prepayments and other current assets |
136,681 |
|
156,964 |
|
22,109 |
Total current
assets |
1,108,632 |
|
1,241,892 |
|
174,917 |
|
|
|
|
|
|
Non-current
assets: |
|
|
|
|
|
Property and equipment, net |
7,409 |
|
7,818 |
|
1,101 |
Intangible assets, net |
- |
|
2,963 |
|
417 |
Operating lease right-of-use assets |
84,009 |
|
67,703 |
|
9,536 |
Deferred tax assets |
2,084 |
|
1,110 |
|
156 |
Goodwill |
- |
|
7,389 |
|
1,041 |
Other non-current assets |
21,296 |
|
20,516 |
|
2,890 |
Total non-current
assets |
114,798 |
|
107,499 |
|
15,141 |
TOTAL
ASSETS |
1,223,430 |
|
1,349,391 |
|
190,058 |
|
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
Current
liabilities: |
|
|
|
|
|
Accounts payables |
62,094 |
|
67,506 |
|
9,508 |
Accrued expenses and other current liabilities |
171,160 |
|
206,076 |
|
29,025 |
Amounts due to and advance from related parties |
- |
|
4,150 |
|
585 |
Income tax payable |
8,794 |
|
2,052 |
|
289 |
Contract liabilities, current portion |
517,213 |
|
472,471 |
|
66,546 |
Advance from customers |
144,397 |
|
158,439 |
|
22,316 |
Operating lease liabilities, current portion |
41,092 |
|
35,983 |
|
5,068 |
Total current
liabilities |
944,750 |
|
946,677 |
|
133,337 |
|
|
|
|
|
|
Non-current
liabilities: |
|
|
|
|
|
Contract liabilities, non-current portion |
7 |
|
- |
|
- |
Operating lease liabilities, non-current portion |
52,840 |
|
42,039 |
|
5,921 |
Total non-current
liabilities |
52,847 |
|
42,039 |
|
5,921 |
TOTAL
LIABILITIES |
997,597 |
|
988,716 |
|
139,258 |
QUANTASING GROUP LIMITEDUNAUDITED
CONDENSED CONSOLIDATED BALANCE SHEETS -
continued(Amounts in thousands, except for share
and per share data) |
|
|
As of |
|
June 30,2023 |
|
December 31,2023 |
|
December 31,2023 |
|
RMB |
|
RMB |
|
US$ |
|
|
|
|
|
|
SHAREHOLDERS’
EQUITY |
|
|
|
|
|
Class A ordinary shares (US$0.0001 par value; 430,000,000 shares
authorized, 115,759,408 and 119,595,049 shares issued and
outstanding as of June 30, 2023 and December 31, 2023,
respectively) |
78 |
|
|
81 |
|
|
11 |
|
Class B ordinary shares (US$0.0001 par value; 70,000,000 shares
authorized, 49,859,049 shares issued and outstanding as of June 30,
2023 and December 31, 2023, respectively) |
34 |
|
|
34 |
|
|
5 |
|
Treasury stock |
- |
|
|
(54,072 |
) |
|
(7,616 |
) |
Additional paid-in
capital |
1,171,092 |
|
|
1,193,225 |
|
|
168,062 |
|
Accumulated other
comprehensive income |
22,182 |
|
|
16,805 |
|
|
2,367 |
|
Accumulative deficit |
(969,688 |
) |
|
(795,398 |
) |
|
(112,029 |
) |
TOTAL QUANTASING GROUP
LIMITED SHAREHOLDERS’ EQUITY |
223,698 |
|
|
360,675 |
|
|
50,800 |
|
Non-controlling interests |
2,135 |
|
|
- |
|
|
- |
|
TOTAL SHAREHOLDERS’
EQUITY |
225,833 |
|
|
360,675 |
|
|
50,800 |
|
TOTAL LIABILITIES AND
SHAREHOLDERS’ EQUITY |
1,223,430 |
|
|
1,349,391 |
|
|
190,058 |
|
QUANTASING GROUP LIMITEDUNAUDITED
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE
INCOME/(LOSS)(Amounts in thousands, except for
shares and per share data) |
|
|
For the Three MonthsEnded December
31, |
|
For the Six MonthsEnded December
31, |
|
2022 |
|
2023 |
|
2023 |
|
2022 |
|
2023 |
|
2023 |
|
RMB |
|
RMB |
|
US$ |
|
RMB |
|
RMB |
|
US$ |
|
|
|
|
|
|
|
|
|
|
|
|
Revenues |
786,425 |
|
|
980,542 |
|
|
138,106 |
|
|
1,445,791 |
|
|
1,849,678 |
|
|
260,522 |
|
Cost of revenues |
(99,253 |
) |
|
(145,018 |
) |
|
(20,425 |
) |
|
(174,315 |
) |
|
(263,210 |
) |
|
(37,072 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
Gross Profit |
687,172 |
|
|
835,524 |
|
|
117,681 |
|
|
1,271,476 |
|
|
1,586,468 |
|
|
223,450 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
Sales and marketing expenses |
(622,901 |
) |
|
(657,112 |
) |
|
(92,552 |
) |
|
(1,204,059 |
) |
|
(1,277,264 |
) |
|
(179,899 |
) |
Research and development expenses |
(64,269 |
) |
|
(41,015 |
) |
|
(5,777 |
) |
|
(116,570 |
) |
|
(84,815 |
) |
|
(11,946 |
) |
General and administrative expenses |
(44,526 |
) |
|
(35,059 |
) |
|
(4,938 |
) |
|
(88,916 |
) |
|
(77,821 |
) |
|
(10,961 |
) |
Total operating expenses |
(731,696 |
) |
|
(733,186 |
) |
|
(103,267 |
) |
|
(1,409,545 |
) |
|
(1,439,900 |
) |
|
(202,806 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
(Loss)/Income from
operations |
(44,524 |
) |
|
102,338 |
|
|
14,414 |
|
|
(138,069 |
) |
|
146,568 |
|
|
20,644 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Other
income: |
|
|
|
|
|
|
|
|
|
|
|
Interest income |
656 |
|
|
2,409 |
|
|
339 |
|
|
848 |
|
|
5,856 |
|
|
825 |
|
Others, net |
3,502 |
|
|
2,221 |
|
|
313 |
|
|
9,952 |
|
|
14,478 |
|
|
2,039 |
|
|
|
|
|
|
|
|
|
|
|
|
|
(Loss)/Income before income tax |
(40,366 |
) |
|
106,968 |
|
|
15,066 |
|
|
(127,269 |
) |
|
166,902 |
|
|
23,508 |
|
Income tax expense |
(1,035 |
) |
|
642 |
|
|
90 |
|
|
(11,410 |
) |
|
7,388 |
|
|
1,041 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net (loss)/
income |
(41,401 |
) |
|
107,610 |
|
|
15,156 |
|
|
(138,679 |
) |
|
174,290 |
|
|
24,549 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Other comprehensive (loss)/income |
|
|
|
|
|
|
|
|
|
|
|
Foreign currency translation adjustments, net of nil tax |
(789 |
) |
|
(3,372 |
) |
|
(475 |
) |
|
1,337 |
|
|
(5,377 |
) |
|
(757 |
) |
Total other
comprehensive (loss)/income |
(789 |
) |
|
(3,372 |
) |
|
(475 |
) |
|
1,337 |
|
|
(5,377 |
) |
|
(757 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
Total comprehensive
(loss)/income |
(42,190 |
) |
|
104,238 |
|
|
14,681 |
|
|
(137,342 |
) |
|
168,913 |
|
|
23,792 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
(loss)/Income |
(41,401 |
) |
|
107,610 |
|
|
15,156 |
|
|
(138,679 |
) |
|
174,290 |
|
|
24,549 |
|
Accretion of the Company’s preferred shares |
(10,043 |
) |
|
- |
|
|
- |
|
|
(19,512 |
) |
|
- |
|
|
- |
|
Net (loss)/income
attributable to ordinary shareholders of QuantaSing Group
Limited |
(51,444 |
) |
|
107,610 |
|
|
15,156 |
|
|
(158,191 |
) |
|
174,290 |
|
|
24,549 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net (loss)/income per
ordinary share |
|
|
|
|
|
|
|
|
|
|
|
- Basic |
(0.89 |
) |
|
0.65 |
|
|
0.09 |
|
|
(2.82 |
) |
|
1.04 |
|
|
0.15 |
|
- Diluted |
(0.89 |
) |
|
0.64 |
|
|
0.09 |
|
|
(2.82 |
) |
|
1.02 |
|
|
0.14 |
|
Weighted average
number of ordinary shares used in computing net loss per
share |
|
|
|
|
|
|
|
|
|
|
|
- Basic |
57,839,074 |
|
|
165,369,914 |
|
|
165,369,914 |
|
|
56,139,430 |
|
|
167,213,449 |
|
|
167,213,449 |
|
- Diluted |
57,839,074 |
|
|
167,356,510 |
|
|
167,356,510 |
|
|
56,139,430 |
|
|
171,180,058 |
|
|
171,180,058 |
|
Share-based
compensation expenses included in |
|
|
|
|
|
|
|
|
|
|
|
Cost of revenues |
(7,311 |
) |
|
(3,289 |
) |
|
(463 |
) |
|
(11,963 |
) |
|
(7,067 |
) |
|
(995 |
) |
Sales and marketing expenses |
(15,097 |
) |
|
15,946 |
|
|
2,246 |
|
|
(27,616 |
) |
|
11,457 |
|
|
1,614 |
|
Research and development expenses |
(20,439 |
) |
|
(1,402 |
) |
|
(197 |
) |
|
(32,507 |
) |
|
(7,012 |
) |
|
(988 |
) |
General and administrative expenses |
(20,317 |
) |
|
(7,513 |
) |
|
(1,058 |
) |
|
(37,448 |
) |
|
(20,922 |
) |
|
(2,947 |
) |
QUANTASING GROUP LIMITEDUNAUDITED
RECONCILIATION OF GAAP AND NON-GAAP
RESULTS(Amounts in thousands, except for shares
and per share data) |
|
The following
table below sets forth a reconciliation of revenues to gross
billings for the periods indicated: |
|
|
For the Three MonthsEnded December
31, |
|
For the Six MonthsEnded December
31, |
|
2022 |
|
2023 |
|
2023 |
|
2022 |
|
2023 |
|
2023 |
|
RMB |
|
RMB |
|
US$ |
|
RMB |
|
RMB |
|
US$ |
|
|
|
|
|
|
|
|
|
|
|
|
Revenues of individual online learning
services: |
703,983 |
|
|
873,551 |
|
|
123,037 |
|
|
1,289,068 |
|
|
1,629,461 |
|
|
229,505 |
|
Add: value-added tax |
43,740 |
|
|
47,100 |
|
|
6,634 |
|
|
81,716 |
|
|
94,679 |
|
|
13,335 |
|
Add: ending deferred
revenues(1) |
644,586 |
|
|
643,929 |
|
|
90,696 |
|
|
644,586 |
|
|
643,929 |
|
|
90,696 |
|
Less: beginning deferred
revenues(1) |
(573,528 |
) |
|
(619,954 |
) |
|
(87,319 |
) |
|
(531,662 |
) |
|
(661,360 |
) |
|
(93,151 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
Gross billings of
individual online learning services |
818,781 |
|
|
944,626 |
|
|
133,048 |
|
|
1,483,708 |
|
|
1,706,709 |
|
|
240,385 |
|
(1) Deferred revenues include contract
liabilities, advance from customers, and refund liability of
individual online learning services included in “accrued expenses
and other current liabilities.”
|
QUANTASING GROUP LIMITEDUNAUDITED
RECONCILIATION OF GAAP AND NON-GAAP RESULTS -
continued(Amounts in thousands, except for shares
and per share data) |
|
The following
table below sets forth a reconciliation of net (loss)/income to
adjusted net income/(loss) and basic and diluted net (loss)/income
per share to basic and diluted adjusted net income/(loss) per share
for the periods indicated: |
|
|
For the Three MonthsEnded December
31, |
|
For Six MonthsEnded December
31, |
|
2022 |
|
2023 |
|
2023 |
|
2022 |
|
2023 |
|
2023 |
|
RMB |
|
RMB |
|
US$ |
|
RMB |
|
RMB |
|
US$ |
|
|
|
|
|
|
|
|
|
|
|
|
Net (loss)/income |
(41,401 |
) |
|
107,610 |
|
|
15,156 |
|
|
(138,679 |
) |
|
174,290 |
|
24,549 |
Add: Share-based
compensation |
63,164 |
|
|
(3,742 |
) |
|
(528 |
) |
|
109,534 |
|
|
23,544 |
|
3,316 |
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted net
income/(loss) |
21,763 |
|
|
103,868 |
|
|
14,628 |
|
|
(29,145 |
) |
|
197,834 |
|
27,865 |
Accretion of the Company’s preferred shares |
(10,043 |
) |
|
- |
|
|
- |
|
|
(19,512 |
) |
|
- |
|
- |
Income allocation to participating preferred shares |
(7,448 |
) |
|
- |
|
|
- |
|
|
- |
|
|
- |
|
- |
Adjusted net
(loss)/income attributable to ordinary shareholders of QuantaSing
Group Limited |
4,272 |
|
|
103,868 |
|
|
14,628 |
|
|
(48,657 |
) |
|
197,834 |
|
27,865 |
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
number of ordinary shares used in computing net (loss)/income per
share |
|
|
|
|
|
|
|
|
|
|
|
- Basic |
57,839,074 |
|
|
165,369,914 |
|
|
165,369,914 |
|
|
56,139,430 |
|
|
167,213,449 |
|
167,213,449 |
- Diluted |
57,839,074 |
|
|
167,356,510 |
|
|
167,356,510 |
|
|
56,139,430 |
|
|
171,180,058 |
|
171,180,058 |
Weighted average
number of ordinary shares used in computing adjusted
net income/(loss) per
share |
|
|
|
|
|
|
|
|
|
|
|
- Basic |
57,839,074 |
|
|
165,369,914 |
|
|
165,369,914 |
|
|
56,139,430 |
|
|
167,213,449 |
|
167,213,449 |
- Diluted |
64,666,692 |
|
|
167,356,510 |
|
|
167,356,510 |
|
|
56,139,430 |
|
|
171,180,058 |
|
171,180,058 |
|
|
|
|
|
|
|
|
|
|
|
|
Net (loss)/income per
ordinary share |
|
|
|
|
|
|
|
|
|
|
|
- Basic |
(0.89 |
) |
|
0.65 |
|
|
0.09 |
|
|
(2.82 |
) |
|
1.04 |
|
0.15 |
- Diluted |
(0.89 |
) |
|
0.64 |
|
|
0.09 |
|
|
(2.82 |
) |
|
1.02 |
|
0.14 |
Non-GAAP adjustments
to net (loss)/income per ordinary share |
|
|
|
|
|
|
|
|
|
|
|
- Basic |
0.96 |
|
|
(0.02 |
) |
|
0.00 |
|
|
1.95 |
|
|
0.14 |
|
0.02 |
- Diluted |
0.96 |
|
|
(0.02 |
) |
|
0.00 |
|
|
1.95 |
|
|
0.14 |
|
0.02 |
Adjusted
net income/(loss) per
ordinary share |
|
|
|
|
|
|
|
|
|
|
|
- Basic |
0.07 |
|
|
0.63 |
|
|
0.09 |
|
|
(0.87 |
) |
|
1.18 |
|
0.17 |
- Diluted |
0.07 |
|
|
0.62 |
|
|
0.09 |
|
|
(0.87 |
) |
|
1.16 |
|
0.16 |
QuantaSing (NASDAQ:QSG)
過去 株価チャート
から 9 2024 まで 10 2024
QuantaSing (NASDAQ:QSG)
過去 株価チャート
から 10 2023 まで 10 2024