51Talk Online Education Group COE
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Market cap
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No price or market cap here: this company files no 10-K, so the only share count SEC publishes for it counts its ordinary shares in its home market, while its US listing is a depositary receipt standing for some number of them. That number is in no filing, so a price multiplied by that count is not this company's value and is not shown. The financial statements below are as filed.
Valuation FY2025 figures against the last close
P/S—
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-0.05
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $95.6M | $50.7M | $27.1M | $15.0M | $788.0K | $314.8M | $212.4M | $166.6M | $130.3M | $60.2M |
| Cost of revenue | $24.9M | $11.2M | $6.3M | $3.2M | $130.0K | $89.0M | $63.2M | $59.8M | $48.3M | $21.2M |
| Gross profit | $70.7M | $39.5M | $20.8M | $11.9M | $658.0K | $225.9M | $149.2M | $106.8M | $82.1M | $39.0M |
| R&D | $5.5M | $3.6M | $3.1M | $2.9M | $135.0K | $25.0M | $22.6M | $26.9M | $34.3M | $22.0M |
| SG&A | $17.3M | $10.6M | $7.7M | $8.1M | $1.7M | $32.8M | $28.2M | $32.4M | $34.5M | $23.9M |
| Total operating expenses | $85.1M | $47.6M | $34.5M | $24.2M | $5.2M | $216.5M | $164.6M | $165.7M | $169.8M | $112.8M |
| Operating income | -$14.4M | -$8.0M | -$13.7M | -$12.4M | -$4.6M | $16.0M | -$15.4M | -$58.9M | -$87.7M | -$73.8M |
| Interest expense | — | — | — | — | $630.0K | $10.0K | $1.4M | — | — | — |
| Pre-tax income | -$15.6M | -$7.0M | -$14.9M | -$12.8M | -$4.1M | $21.9M | -$14.3M | -$60.0M | -$88.6M | -$73.9M |
| Income tax | $1.2M | $276.0K | $118.0K | $60.0K | $100.0K | $629.0K | $728.0K | $565.0K | $667.0K | $233.0K |
| Net income | -$16.8M | -$7.2M | -$15.0M | -$42.6M | $18.7M | $21.2M | -$15.0M | -$60.6M | -$89.3M | -$74.1M |
| EPS, basic | -0.05 | -0.02 | -0.04 | — | 0.06 | 0.07 | — | — | — | — |
| EPS, diluted | -0.05 | -0.02 | -0.04 | — | 0.06 | 0.07 | -0.05 | -0.20 | -0.30 | -0.44 |
| Shares, diluted (wtd. avg.) | $355.0M | $347.1M | $341.1M | $335.6M | $328.5M | $319.6M | $308.4M | $304.5M | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $38.9M | $27.8M | $21.3M | $18.2M | $24.6M | $51.3M | $52.6M | $59.3M | $46.5M | $42.2M |
| Short-term investments | — | — | — | — | $90.7M | $78.1M | $65.1M | $19.8M | $15.5M | — |
| Inventory | — | — | — | — | $169.0K | $297.0K | $44.0K | — | — | — |
| Total current assets | $60.4M | $40.1M | $29.8M | $26.6M | $151.2M | $247.9M | $171.0M | $138.8M | $108.9M | $102.7M |
| Property, plant and equipment | $2.0M | $363.0K | $138.0K | $25.0K | $148.0K | $3.2M | $2.9M | $5.1M | $7.5M | $6.0M |
| Goodwill | — | — | — | — | — | $647.0K | $607.0K | $614.0K | $649.0K | $608.0K |
| Other intangibles | $68.0K | $80.0K | $92.0K | $104.0K | $116.0K | $3.1M | $1.4M | $1.7M | $1.5M | $667.0K |
| Total assets | $66.1M | $43.9M | $31.2M | $27.6M | $187.1M | $338.6M | $201.4M | $146.9M | $120.4M | $111.7M |
| Short-term debt | — | — | — | — | — | — | $2.4M | — | — | — |
| Total current liabilities | $95.4M | $56.9M | $39.1M | $20.5M | $297.0M | $462.5M | $347.4M | $274.3M | $218.9M | $120.8M |
| Long-term debt | — | — | — | — | — | — | — | $10.0M | — | — |
| Total liabilities | $97.3M | $58.7M | $39.3M | $21.1M | $300.5M | $471.5M | $351.7M | $286.9M | $223.2M | $126.0M |
| Retained earnings | -$370.4M | -$353.6M | -$346.4M | -$331.2M | -$288.6M | -$314.5M | -$315.9M | -$304.6M | -$269.6M | -$168.9M |
| Total equity | -$31.4M | -$15.0M | -$8.2M | $6.6M | -$113.4M | -$132.9M | -$150.0M | -$140.0M | -$102.7M | -$14.3M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $11.8M | $5.8M | $559.0K | -$45.7M | -$105.0M | $104.2M | $57.2M | $4.3M | $8.5M | $4.1M |
| Depreciation and amortisation | $434.0K | $137.0K | $99.0K | $103.0K | $97.0K | $0 | $3.8M | $4.8M | $4.5M | $2.4M |
| Stock-based compensation | $1.3M | $934.0K | $910.0K | $712.0K | $219.0K | $0 | $2.4M | $4.1M | $5.4M | $6.9M |
| Capital expenditure | $2.3M | $308.0K | $287.0K | $5.0K | $3.8M | $3.4M | $1.4M | $2.6M | $5.4M | $5.3M |
| Investing cash flow | -$952.0K | $468.0K | $2.4M | $2.5M | $98.3M | -$106.0M | -$59.3M | -$713.0K | $1.7M | -$36.3M |
| Financing cash flow | $218.0K | $240.0K | — | $20.5M | -$2.4M | $1.3M | -$7.8M | $9.9M | $40.0K | $61.1M |
| Buybacks | — | — | — | — | $3.1M | $3.5M | $7 | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-047273.
Others in SIC 8200
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|---|---|---|---|---|
| LAUR | LAUREATE EDUCATION, INC. | $5.06B | 19.4x | 8.6% |
| GHC | Graham Holdings Co | $4.84B | 17.1x | 2.5% |
| CVSA | Covista Inc. | $4.36B | 18.2x | 9.3% |
| LOPE | Grand Canyon Education, Inc. | $3.98B | 19.8x | 7.1% |
| LRN | Stride, Inc. | $3.52B | 11.9x | 4.7% |
| PRDO | PERDOCEO EDUCATION Corp | $2.08B | 13.7x | 24.2% |
| STRA | Strategic Education, Inc. | $1.81B | 15.1x | 4.0% |
| UTI | UNIVERSAL TECHNICAL INSTITUTE INC | $1.22B | 19.6x | 14.0% |