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 third
quarter of the fiscal year ending June 30, 2024 (the “third quarter
of FY 2024”, which refers to the quarter from January 1, 2024 to
March 31, 2024).
Highlights for the Third Quarter of FY
2024
- Revenues for the
third quarter of FY 2024 were RMB945.6 million (US$131.0 million),
representing a change of 3.6% from the second quarter of the fiscal
year ending June 30, 2024 (the “second quarter of FY 2024”) and an
increase of 17.1% from the third quarter of the fiscal year ended
June 30, 2023 (the “third quarter of FY 2023”).
- Gross billings of
individual online learning services1 for
the third quarter of FY 2024 were RMB981.5million (US$135.9
million), representing an increase of 3.9% from the second quarter
of FY 2024 and an increase of 22.1% from the third quarter of FY
2023.
- Net income for the
third quarter of FY 2024 was RMB14.6 million (US$2.0 million),
compared with RMB107.6 million in the second quarter of FY 2024,
and a net loss of RMB22.7 million in the third quarter of FY
2023.
- Adjusted net
income2 for the third quarter of FY 2024
was RMB31.9 million (US$4.4 million), compared with RMB103.9
million in the second quarter of FY 2024, and RMB21.7 million in
the third quarter of FY 2023.
- Total registered
users increased by 40.3% to approximately 121.0 million as
of March 31, 2024, from 86.3 million as of March 31, 2023.
- Paying learners
increased by 48.4% year over year to approximately 0.5 million in
the third quarter of FY 2024.
Mr. Peng Li, Chairman and Chief Executive
Officer of QuantaSing, commented, “We are pleased to see the
positive reception that our expanded course offerings have received
from our middle-aged and elderly users. By focusing on their unique
interests and needs, such as Traditional Chinese Medicine and
recreational exercises like Ba Duan Jin, we are enriching their
lives and fostering a vibrant community of lifelong learners. Our
recent initiatives, including the educational tour program and the
launch of mini-lectures, have received enthusiastic feedback,
highlighting robust demand for active aging and continuous
learning. During May 2024, our overseas development initiatives
made solid progress, as Kelly’s Education opened its first offline
school in Hong Kong. Importantly, this quarter's growth in gross
billings and user engagement has further solidified our business
fundamentals. As we continue to develop and market consumer
products tailored to our middle-aged and elderly users, we are
excited about the opportunities ahead to enhance their well-being
and extend our reach in the silver economy.”
Mr. Dong Xie, Chief Financial Officer of
QuantaSing, added, “During the third quarter of fiscal year 2024,
we achieved total revenues of RMB945.6 million, a 17.1%
year-over-year increase driven by robust demand for our skills
upgrading courses. We strategically allocated cash flow into new
initiatives using our "test-and-scale" approach while closely
monitoring our learning business to preserve profitability. Moving
forward, our commitment to sustainable and profitable growth will
continue to guide our strategic trajectory.”
Financial Results for the Third Quarter
of FY 2024
Revenues
Revenues increased by 17.1% year over year to
RMB945.6 million (US$131.0 million) in the third 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 individuals3.
-
Revenues from individual online learning services increased by
14.3% year over year to RMB828.1 million (US$114.7 million) in the
third quarter of FY 2024, up from RMB724.7 million in the third
quarter of FY 2023. This growth was primarily due to 1) revenues
from skills upgrading courses3 increased to RMB464.4 million
(US$64.3 million) in the third quarter of FY 2024 from RMB205.9
million in the third quarter of FY 2023, and 2) revenues from
recreation and leisure courses3 increased to RMB95.3 million
(US$13.2 million) in the third quarter of FY 2024 from RMB32.1
million in the third quarter of FY 2023, partially offset by the
decline of RMB218.2 million (US$30.2 million) in revenues from
financial literacy courses.
-
Revenues from enterprise services were RMB65.1 million (US$9.0
million) in the third quarter of FY 2024, compared to RMB81.1
million in the third quarter of FY 2023, representing a
year-over-year change of 19.8%, primarily due to a change in
revenue streams from transactions involving related party and
external entities, partially offset by an increase in revenue due
to higher demand from existing and new customers for marketing
services.
-
Revenues from others increased to RMB52.4 million (US$7.3 million)
in the third quarter of FY 2024 from RMB1.4 million in the third
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 RMB145.8 million (US$20.2
million) in the third quarter of FY 2024, compared to RMB101.1
million in the third quarter of FY 2023, representing a change of
44.3%. The change was primarily due to increased labor outsourcing
costs of RMB23.3 million (US$3.2 million) and higher procurement
costs of RMB27.1 million (US$3.7 million), and was partially offset
by a RMB15.7 million (US$2.2 million) decrease in staff costs.
Sales and marketing
expenses
Sales and marketing expenses were RMB729.6
million (US$101.1 million) in the third quarter of FY 2024,
compared to RMB631.4 million in the third quarter of FY 2023,
representing a change of 15.6%. The change was mainly due to
increases in labor outsourcing costs of RMB84.9 million (US$11.8
million) and marketing and promotion expenses of RMB89.4 million
(US$12.4 million), partially offset by a decrease in staff costs of
RMB73.7 million (US$10.2 million), which includes a decrease in
share-based compensation expenses of RMB9.5 million (US$1.3
million).
Research and development
expenses
Research and development expenses were RMB38.8
million (US$5.4 million) in the third quarter of FY 2024, compared
to RMB49.6 million in the third quarter of FY 2023, representing a
decrease of 21.7%. The decrease was primarily due to a decline in
staff costs of RMB11.5 million (US$1.6 million), which includes a
decrease in share-based compensation expenses of RMB5.2 million
(US$0.7 million).
General and administrative
expenses
General and administrative expenses were RMB36.4
million (US$5.0 million) in the third quarter of FY 2024, compared
to RMB48.3 million in the third quarter of FY 2023, representing a
decrease of 24.7%. The decrease was primarily due to a decline in
share-based compensation expenses and office expenses.
Net income and adjusted net
income
Net income was RMB14.6 million (US$2.0 million)
in the third quarter of FY 2024, compared with a net loss of
RMB22.7 million in the third quarter of FY 2023. Adjusted net
income was RMB31.9 million (US$4.4 million) in the third quarter of
FY 2024, compared with RMB21.7 million in the third quarter of FY
2023.
Earnings per share and adjusted earnings
per share4
Basic and diluted net income per share were
RMB0.09 (US$0.01) in the third quarter of FY 2024, compared with
basic and diluted net loss per share of RMB0.19 in the third
quarter of FY 2023. Basic and diluted adjusted net income per share
were RMB0.19 (US$0.03) in the third quarter of FY 2024, compared
with basic and diluted adjusted net income per share of RMB0.11 in
the third quarter of FY 2023.
Balance Sheet
As of March 31, 2024, the Company had cash and
cash equivalents and short-term investments of RMB1,149.9 million
(US$159.3 million), compared with RMB930.6 million as of June 30,
2023.
Financial Outlook
Based on currently available information, for
the fourth quarter of FY 2024 (which refers to the quarter from
April 1, 2024 to June 30, 2024), the Company expects its revenues
to be in the range of RMB900.0 million to RMB930.0 million,
representing a year-over-year increase of 8.7% to 12.3%. 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
March 31, 2024, the Company had cumulatively repurchased an
aggregate of approximately 2.6 million ADSs for approximately
US$11.5 million under the Share Repurchase Program.
On March 20, 2024, as part of its initiative to
expand the e-commerce business and the AI and technology business,
the Company, through one of its wholly-owned PRC subsidiaries,
entered into a partnership agreement to form a PRC limited
partnership enterprise for future equity investment (the
“Partnership”), in which the Company served as a limited partner
and committed to subscribing for 43.29% of the interests in the
Partnership for an aggregate capital contribution of RMB100.0
million. Up to the date of this press release, the Company has
fulfilled its initial capital contribution of RMB3.0 million.
Conference Call Information
The Company's management team will hold a
conference call at 7:00 A.M. Eastern Time on Thursday, June 6, 2024
(7:00 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 June 13,
2024 by dialing the following numbers:
|
International: |
1-412-317-0088 |
| United States Toll Free: |
1-877-344-7529 |
| Access Code: |
7529094 |
| |
|
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 ordinary 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 in such period. Adjusted net income/(loss)
represents net (loss)/income excluding share-based compensation
expense. Basic and diluted adjusted net income/(loss) per ordinary
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 ordinary
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 ordinary
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 RMB7.2203 to US$1.00, the exchange rate on
March 29, 2024, 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 adopted a new presentation of its revenues since the
second quarter of FY 2024, 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 ordinary share are non-GAAP
financial measures. For a reconciliation of basic and diluted net
(loss)/income per ordinary share to basic and diluted adjusted net
income/(loss) per ordinary 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 |
|
March 31,2024 |
|
March 31,2024 |
| |
RMB |
|
RMB |
|
US$ |
| |
|
|
|
|
|
| ASSETS |
|
|
|
|
|
| Current
assets: |
|
|
|
|
|
|
Cash and cash equivalents |
764,281 |
|
971,575 |
|
134,562 |
|
Short-term investments |
166,303 |
|
178,367 |
|
24,704 |
|
Accounts receivable, net |
12,251 |
|
28,564 |
|
3,956 |
|
Amounts due from related parties |
29,116 |
|
2,291 |
|
317 |
|
Inventory, net |
- |
|
7,185 |
|
995 |
|
Prepayments and other current assets |
136,681 |
|
182,877 |
|
25,328 |
| Total current
assets |
1,108,632 |
|
1,370,859 |
|
189,862 |
| |
|
|
|
|
|
| Non-current
assets: |
|
|
|
|
|
|
Property and equipment, net |
7,409 |
|
6,700 |
|
928 |
|
Intangible assets, net |
- |
|
2,807 |
|
389 |
|
Operating lease right-of-use assets |
84,009 |
|
64,891 |
|
8,987 |
|
Deferred tax assets |
2,084 |
|
13,721 |
|
1,900 |
|
Goodwill |
- |
|
7,389 |
|
1,023 |
|
Other non-current assets |
21,296 |
|
21,365 |
|
2,959 |
| Total non-current
assets |
114,798 |
|
116,873 |
|
16,186 |
| TOTAL
ASSETS |
1,223,430 |
|
1,487,732 |
|
206,048 |
|
|
|
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
| Current
liabilities: |
|
|
|
|
|
|
Accounts payables |
62,094 |
|
87,001 |
|
12,049 |
|
Accrued expenses and other current liabilities |
171,160 |
|
222,664 |
|
30,839 |
|
Income tax payable |
8,794 |
|
5,103 |
|
707 |
|
Contract liabilities, current portion |
517,213 |
|
527,948 |
|
73,120 |
|
Advance from customers |
144,397 |
|
201,124 |
|
27,855 |
|
Operating lease liabilities, current portion |
41,092 |
|
46,277 |
|
6,409 |
| Total current
liabilities |
944,750 |
|
1,090,117 |
|
150,979 |
|
|
|
|
|
|
|
| Non-current
liabilities: |
|
|
|
|
|
|
Contract liabilities, non-current portion |
7 |
|
- |
|
- |
|
Operating lease liabilities, non-current portion |
52,840 |
|
29,359 |
|
4,066 |
| Total non-current
liabilities |
52,847 |
|
29,359 |
|
4,066 |
| TOTAL
LIABILITIES |
997,597 |
|
1,119,476 |
|
155,045 |
|
QUANTASING GROUP LIMITEDUNAUDITED
CONDENSED CONSOLIDATED BALANCE SHEETS -
continued(Amounts in thousands, except for share
and per share data) |
| |
| |
As of |
| |
June 30,2023 |
|
March 31,2024 |
|
March 31,2024 |
| |
RMB |
|
RMB |
|
US$ |
| |
|
|
|
|
|
| SHAREHOLDERS’
EQUITY |
|
|
|
|
|
|
Class A ordinary shares |
78 |
|
|
81 |
|
|
11 |
|
|
Class B ordinary shares |
34 |
|
|
34 |
|
|
5 |
|
| Treasury stock |
- |
|
|
(75,189 |
) |
|
(10,414 |
) |
| Additional paid-in
capital |
1,171,092 |
|
|
1,206,870 |
|
|
167,150 |
|
| Accumulated other
comprehensive income |
22,182 |
|
|
17,228 |
|
|
2,386 |
|
| Accumulative deficit |
(969,688 |
) |
|
(780,768 |
) |
|
(108,135 |
) |
| TOTAL QUANTASING GROUP
LIMITED SHAREHOLDERS’ EQUITY |
223,698 |
|
|
368,256 |
|
|
51,003 |
|
| Non-controlling interests |
2,135 |
|
|
- |
|
|
- |
|
| TOTAL SHAREHOLDERS’
EQUITY |
225,833 |
|
|
368,256 |
|
|
51,003 |
|
| TOTAL LIABILITIES AND
SHAREHOLDERS’ EQUITY |
1,223,430 |
|
|
1,487,732 |
|
|
206,048 |
|
|
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 March
31, |
|
For the Nine MonthsEnded March
31, |
|
|
2023 |
|
2024 |
|
2024 |
|
2023 |
|
2024 |
|
2024 |
|
|
RMB |
|
RMB |
|
US$ |
|
RMB |
|
RMB |
|
US$ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues |
807,243 |
|
|
945,570 |
|
|
130,960 |
|
|
2,253,034 |
|
|
2,795,248 |
|
|
387,137 |
|
| Cost of revenues |
(101,057 |
) |
|
(145,848 |
) |
|
(20,200 |
) |
|
(275,372 |
) |
|
(409,058 |
) |
|
(56,654 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Profit |
706,186 |
|
|
799,722 |
|
|
110,760 |
|
|
1,977,662 |
|
|
2,386,190 |
|
|
330,483 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
Sales and marketing expenses |
(631,380 |
) |
|
(729,620 |
) |
|
(101,051 |
) |
|
(1,835,439 |
) |
|
(2,006,884 |
) |
|
(277,950 |
) |
|
Research and development expenses |
(49,601 |
) |
|
(38,840 |
) |
|
(5,379 |
) |
|
(166,171 |
) |
|
(123,655 |
) |
|
(17,126 |
) |
|
General and administrative expenses |
(48,309 |
) |
|
(36,390 |
) |
|
(5,040 |
) |
|
(137,225 |
) |
|
(114,211 |
) |
|
(15,818 |
) |
|
Total operating expenses |
(729,290 |
) |
|
(804,850 |
) |
|
(111,470 |
) |
|
(2,138,835 |
) |
|
(2,244,750 |
) |
|
(310,894 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
| (Loss)/Income from
operations |
(23,104 |
) |
|
(5,128 |
) |
|
(710 |
) |
|
(161,173 |
) |
|
141,440 |
|
|
19,589 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
| Other
income: |
|
|
|
|
|
|
|
|
|
|
|
|
Interest income |
1,811 |
|
|
2,513 |
|
|
348 |
|
|
2,659 |
|
|
8,369 |
|
|
1,159 |
|
|
Others, net |
5,206 |
|
|
7,685 |
|
|
1,064 |
|
|
15,158 |
|
|
22,163 |
|
|
3,070 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
(Loss)/Income before income tax |
(16,087 |
) |
|
5,070 |
|
|
702 |
|
|
(143,356 |
) |
|
171,972 |
|
|
23,818 |
|
|
Income tax (expense)/benefit |
(6,576 |
) |
|
9,560 |
|
|
1,324 |
|
|
(17,986 |
) |
|
16,948 |
|
|
2,347 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net (loss)/
income |
(22,663 |
) |
|
14,630 |
|
|
2,026 |
|
|
(161,342 |
) |
|
188,920 |
|
|
26,165 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other comprehensive income/(loss) |
|
|
|
|
|
|
|
|
|
|
|
|
Foreign currency translation adjustments, net of nil tax |
3,461 |
|
|
423 |
|
|
59 |
|
|
4,798 |
|
|
(4,954 |
) |
|
(686 |
) |
| Total other
comprehensive income/(loss) |
3,461 |
|
|
423 |
|
|
59 |
|
|
4,798 |
|
|
(4,954 |
) |
|
(686 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total comprehensive
(loss)/income |
(19,202 |
) |
|
15,053 |
|
|
2,085 |
|
|
(156,544 |
) |
|
183,966 |
|
|
25,479 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net
(loss)/Income |
(22,663 |
) |
|
14,630 |
|
|
2,026 |
|
|
(161,342 |
) |
|
188,920 |
|
|
26,165 |
|
|
Accretion of the Company’s preferred shares |
(2,867 |
) |
|
- |
|
|
- |
|
|
(22,379 |
) |
|
- |
|
|
- |
|
| Net (loss)/income
attributable to ordinary shareholders of QuantaSing Group
Limited |
(25,530 |
) |
|
14,630 |
|
|
2,026 |
|
|
(183,721 |
) |
|
188,920 |
|
|
26,165 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net (loss)/income per
ordinary share |
|
|
|
|
|
|
|
|
|
|
|
|
- Basic |
(0.19 |
) |
|
0.09 |
|
|
0.01 |
|
|
(2.23 |
) |
|
1.14 |
|
|
0.16 |
|
|
- Diluted |
(0.19 |
) |
|
0.09 |
|
|
0.01 |
|
|
(2.23 |
) |
|
1.10 |
|
|
0.15 |
|
| Weighted average
number of ordinary shares used in computing net (loss)/income per
ordinary share |
|
|
|
|
|
|
|
|
|
|
|
|
- Basic |
135,768,739 |
|
|
164,753,256 |
|
|
164,753,256 |
|
|
82,295,042 |
|
|
166,399,349 |
|
|
166,399,349 |
|
|
- Diluted |
135,768,739 |
|
|
170,890,581 |
|
|
170,890,581 |
|
|
82,295,042 |
|
|
171,089,530 |
|
|
171,089,530 |
|
| Share-based
compensation expenses included in |
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenues |
(7,560 |
) |
|
(2,878 |
) |
|
(399 |
) |
|
(19,523 |
) |
|
(9,945 |
) |
|
(1,377 |
) |
|
Sales and marketing expenses |
(12,318 |
) |
|
(2,779 |
) |
|
(385 |
) |
|
(39,934 |
) |
|
8,678 |
|
|
1,202 |
|
|
Research and development expenses |
(8,762 |
) |
|
(3,599 |
) |
|
(498 |
) |
|
(41,269 |
) |
|
(10,611 |
) |
|
(1,470 |
) |
|
General and administrative expenses |
(15,719 |
) |
|
(8,039 |
) |
|
(1,113 |
) |
|
(53,167 |
) |
|
(28,961 |
) |
|
(4,011 |
) |
|
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 March
31, |
|
For the Nine MonthsEnded March
31, |
|
|
2023 |
|
2024 |
|
2024 |
|
2023 |
|
2024 |
|
2024 |
|
|
RMB |
|
RMB |
|
US$ |
|
RMB |
|
RMB |
|
US$ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues of individual online learning
services: |
724,716 |
|
|
828,127 |
|
|
114,694 |
|
|
2,013,784 |
|
|
2,457,588 |
|
|
340,372 |
|
| Add: value-added tax |
46,213 |
|
|
52,986 |
|
|
7,338 |
|
|
127,929 |
|
|
147,665 |
|
|
20,451 |
|
| Add: ending deferred
revenues(1) |
677,272 |
|
|
744,320 |
|
|
103,087 |
|
|
677,272 |
|
|
744,320 |
|
|
103,087 |
|
| Less: beginning deferred
revenues(1) |
(644,586 |
) |
|
(643,929 |
) |
|
(89,183 |
) |
|
(531,662 |
) |
|
(661,360 |
) |
|
(91,597 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
| Gross billings of
individual online learning services |
803,615 |
|
|
981,504 |
|
|
135,936 |
|
|
2,287,323 |
|
|
2,688,213 |
|
|
372,313 |
|
(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 ordinary share to basic and diluted adjusted net income/(loss)
per ordinary share for the periods indicated: |
|
|
|
|
For the Three Months Ended March
31, |
|
For Nine Months Ended March
31, |
|
|
2023 |
|
2024 |
|
2024 |
|
2023 |
|
2024 |
|
2024 |
|
|
RMB |
|
RMB |
|
US$ |
|
RMB |
|
RMB |
|
US$ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net (loss)/income |
(22,663 |
) |
|
14,630 |
|
2,026 |
|
(161,342 |
) |
|
188,920 |
|
26,165 |
| Add: Share-based
compensation |
44,359 |
|
|
17,295 |
|
2,395 |
|
153,893 |
|
|
40,839 |
|
5,656 |
| |
|
|
|
|
|
|
|
|
|
|
|
| Adjusted net
income/(loss) |
21,696 |
|
|
31,925 |
|
4,421 |
|
(7,449 |
) |
|
229,759 |
|
31,821 |
|
Accretion of the Company’s preferred shares |
(2,867 |
) |
|
- |
|
- |
|
(22,379 |
) |
|
- |
|
- |
|
Income allocation to participating preferred shares |
(3,431 |
) |
|
- |
|
- |
|
- |
|
|
- |
|
- |
| Adjusted net
income/(loss) attributable to ordinary shareholders of QuantaSing
Group Limited |
15,398 |
|
|
31,925 |
|
4,421 |
|
(29,828 |
) |
|
229,759 |
|
31,821 |
| |
|
|
|
|
|
|
|
|
|
|
|
| Weighted average
number of ordinary shares used in computing net (loss)/income per
ordinary share |
|
|
|
|
|
|
|
|
|
|
|
|
- Basic |
135,768,739 |
|
|
164,753,256 |
|
164,753,256 |
|
82,295,042 |
|
|
166,399,349 |
|
166,399,349 |
|
- Diluted |
135,768,739 |
|
|
170,890,581 |
|
170,890,581 |
|
82,295,042 |
|
|
171,089,530 |
|
171,089,530 |
| Weighted average
number of ordinary shares used in computing adjusted net
income/(loss) per ordinary
share |
|
|
|
|
|
|
|
|
|
|
|
|
- Basic |
135,768,739 |
|
|
164,753,256 |
|
164,753,256 |
|
82,295,042 |
|
|
166,399,349 |
|
166,399,349 |
|
- Diluted |
142,354,949 |
|
|
170,890,581 |
|
170,890,581 |
|
82,295,042 |
|
|
171,089,530 |
|
171,089,530 |
| |
|
|
|
|
|
|
|
|
|
|
|
| Net (loss)/income per
ordinary share |
|
|
|
|
|
|
|
|
|
|
|
|
- Basic |
(0.19 |
) |
|
0.09 |
|
0.01 |
|
(2.23 |
) |
|
1.14 |
|
0.16 |
|
- Diluted |
(0.19 |
) |
|
0.09 |
|
0.01 |
|
(2.23 |
) |
|
1.10 |
|
0.15 |
| Non-GAAP adjustments
to net (loss)/income per ordinary share |
|
|
|
|
|
|
|
|
|
|
|
|
- Basic |
0.30 |
|
|
0.10 |
|
0.02 |
|
1.87 |
|
|
0.24 |
|
0.03 |
|
- Diluted |
0.30 |
|
|
0.10 |
|
0.02 |
|
1.87 |
|
|
0.24 |
|
0.04 |
| Adjusted net
income/(loss) per ordinary
share |
|
|
|
|
|
|
|
|
|
|
|
|
- Basic |
0.11 |
|
|
0.19 |
|
0.03 |
|
(0.36 |
) |
|
1.38 |
|
0.19 |
|
- Diluted |
0.11 |
|
|
0.19 |
|
0.03 |
|
(0.36 |
) |
|
1.34 |
|
0.19 |
QuantaSing (NASDAQ:QSG)
過去 株価チャート
から 10 2024 まで 11 2024
QuantaSing (NASDAQ:QSG)
過去 株価チャート
から 11 2023 まで 11 2024
