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17 Education & Technology Group Inc. Releases Unaudited Financial Results for Q1 2025

17 Education & Technology Group Inc. Reports First Quarter 2025 Financial Results

17 Education & Technology Group Inc. announced its unaudited financial results for Q1 2025, revealing net revenues of RMB 21.7 million (approximately US$3.0 million), a 15.0% decline year-over-year from RMB 25.5 million. This decline arose primarily due to reduced revenue from district-level projects as the company shifts focus to school-based initiatives and an increasing number of contracts under its SaaS subscription model, which defers revenue recognition.

The cost of revenues for Q1 2025 stood at RMB 13.8 million (US$1.9 million), a year-over-year decrease of 11.9%. Consequently, gross profit was RMB 7.8 million (US$1.1 million), reflecting a gross margin of 36.2%, compared to 38.4% in the previous year.

Total operating expenses for the quarter decreased significantly by 42.6% to RMB 41.7 million (US$5.7 million), with notable reductions in sales and marketing expenses (down 30.7%) and research and development expenses (down 34.0%). General and administrative expenses plummeted by 53.8%, attributed primarily to improved operational efficiencies and reduced share-based compensation.

The company’s loss from operations narrowed to RMB 33.9 million (US$4.7 million), down from RMB 62.9 million in Q1 2024. Net loss was recorded at RMB 30.9 million (US$4.3 million), significantly less than the RMB 56.1 million reported in the previous year. The adjusted net loss (non-GAAP) also improved to RMB 22.4 million (US$3.1 million).

Cash and cash equivalents at the end of March 2025 totaled RMB 333.3 million (US$45.9 million), a slight decline from RMB 359.3 million at the end of 2024.

The company also announced leadership changes, including the retirement of independent director Mr. Jiawei Gan and the appointment of Mr. Gui Jia and Ms. Sishi Zhou as new independent director and acting CFO, respectively. CEO Andy Chang Liu expressed confidence in the new appointments, highlighting their experience as vital for the company’s strategic development.

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