51Talk Online Education Group COE

Industrials SIC 8200 - Services-Educational Services NAICS Educational Services derived NYSE

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52-week range — - —

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 FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
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—0.060.07————
EPS, diluted -0.05-0.02-0.04—0.060.07-0.05-0.20-0.30-0.44
Shares, diluted (wtd. avg.) 355.0M347.1M341.1M335.6M328.5M319.6M308.4M304.5M——

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
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 FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
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.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -200M 0 200M 400M Revenue, FY2016: 60.2M Gross profit, FY2016: 39M Net income, FY2016: -74.1M Revenue, FY2017: 130.3M Gross profit, FY2017: 82.1M Net income, FY2017: -89.3M Revenue, FY2018: 166.6M Gross profit, FY2018: 106.8M Net income, FY2018: -60.6M Revenue, FY2019: 212.4M Gross profit, FY2019: 149.2M Net income, FY2019: -15M Revenue, FY2020: 314.8M Gross profit, FY2020: 225.9M Net income, FY2020: 21.2M Revenue, FY2021: 788K Gross profit, FY2021: 658K Net income, FY2021: 18.7M Revenue, FY2022: 15M Gross profit, FY2022: 11.9M Net income, FY2022: -42.6M Revenue, FY2023: 27.1M Gross profit, FY2023: 20.8M Net income, FY2023: -15M Revenue, FY2024: 50.7M Gross profit, FY2024: 39.5M Net income, FY2024: -7.2M Revenue, FY2025: 95.6M Gross profit, FY2025: 70.7M Net income, FY2025: -16.8M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $60.2M $130.3M $166.6M $212.4M $314.8M $788.0K $15.0M $27.1M $50.7M $95.6M
Gross profit $39.0M $82.1M $106.8M $149.2M $225.9M $658.0K $11.9M $20.8M $39.5M $70.7M
Net income -$74.1M -$89.3M -$60.6M -$15.0M $21.2M $18.7M -$42.6M -$15.0M -$7.2M -$16.8M

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