Youdao, Inc. DAO
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Market cap
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52-week range
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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 EPS0.13
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $845.0M | $770.7M | $759.1M | $726.8M | $630.2M | $485.4M | $187.4M | — | — |
| Cost of revenue | $470.8M | $394.2M | $369.3M | $351.8M | $318.1M | $262.6M | $134.2M | — | — |
| Gross profit | $374.2M | $376.5M | $389.8M | $375.0M | $312.1M | $222.9M | $53.2M | — | — |
| R&D | $73.5M | $74.0M | $104.7M | $116.5M | $95.3M | $65.1M | $39.6M | — | — |
| SG&A | $28.2M | $25.6M | $31.3M | $33.2M | $29.9M | $21.2M | $10.5M | — | — |
| Total operating expenses | $342.6M | $356.2M | $455.5M | $487.3M | $460.1M | $499.6M | $139.6M | — | — |
| Operating income | $31.6M | $20.4M | -$65.7M | -$112.3M | -$148.0M | -$276.7M | -$86.3M | — | — |
| Interest expense | $9.0M | $10.0M | $9.8M | $6.6M | $5.0M | $4.8M | — | — | — |
| Pre-tax income | $16.2M | $11.1M | -$75.9M | -$105.2M | -$144.3M | -$268.3M | -$86.1M | — | — |
| Income tax | $2.4M | $823.0K | $1.6M | $2.0M | $1.0M | $449.0K | $349.0K | — | — |
| Net income | $13.9M | $10.3M | -$77.5M | -$108.1M | -$156.2M | -$268.6M | -$86.4M | — | — |
| EPS, basic | 0.13 | 0.10 | -0.64 | -0.85 | -1.28 | -2.38 | -0.96 | — | — |
| EPS, diluted | 0.13 | 0.10 | -0.64 | -0.85 | -1.28 | -2.38 | -0.96 | — | — |
| Shares, diluted (wtd. avg.) | 119.9M | 118.2M | 121.4M | 123.6M | 121.7M | 112.9M | 95.4M | 85.3M | 65.4M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $62.9M | $85.7M | $62.3M | $110.5M | $155.5M | $95.6M | $26.6M | $6.0M | — |
| Short-term investments | $42.7M | $8.6M | $10.1M | $33.7M | $79.1M | $89.7M | $17.4M | — | — |
| Receivables | $54.5M | $57.4M | $49.9M | $58.7M | $39.0M | $41.2M | $28.8M | — | — |
| Inventory | $20.1M | $23.9M | $30.6M | $33.7M | $40.1M | $22.8M | $10.5M | — | — |
| Total current assets | $246.3M | $203.7M | $183.1M | $271.1M | $356.2M | $283.8M | $291.6M | — | — |
| Property, plant and equipment | — | — | — | — | — | $7.0M | $3.5M | — | — |
| Goodwill | $15.7M | $15.1M | $15.5M | $15.9M | $17.3M | — | — | — | — |
| Total assets | $282.4M | $248.6M | $234.7M | $330.0M | $413.3M | $317.3M | $299.7M | — | — |
| Accounts payable | $15.7M | $19.9M | $22.4M | $40.9M | $25.3M | $21.7M | $9.0M | — | — |
| Total current liabilities | $419.7M | $403.7M | $436.5M | $460.9M | $476.1M | $520.1M | $252.6M | — | — |
| Total liabilities | $559.0M | $534.8M | $534.6M | $544.2M | $528.0M | $532.9M | $256.5M | — | — |
| Total equity | -$276.6M | -$286.2M | -$305.2M | -$223.5M | -$126.9M | -$215.6M | $43.2M | — | — |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $7.9M | -$9.3M | -$61.7M | -$87.4M | -$211.3M | -$49.3M | -$53.5M | — | — |
| Stock-based compensation | $5.0M | $3.1M | $4.3M | $10.3M | $11.3M | $6.4M | $3.6M | — | — |
| Capital expenditure | $3.7M | $1.6M | $2.5M | $10.0M | $10.0M | $5.6M | $2.6M | — | — |
| Investing cash flow | -$36.2M | -$1.9M | $17.7M | $18.2M | $7.4M | $116.6M | -$155.7M | — | — |
| Financing cash flow | $6.5M | $31.3M | -$2.7M | $26.8M | $279.9M | $4.1M | $228.1M | — | — |
| Buybacks | — | $8.5M | $18.0M | $7.4M | — | — | — | — | — |
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 0001193125-26-155933.
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.)
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | $187.4M | $485.4M | $630.2M | $726.8M | $759.1M | $770.7M | $845.0M |
| Gross profit | — | — | $53.2M | $222.9M | $312.1M | $375.0M | $389.8M | $376.5M | $374.2M |
| Net income | — | — | -$86.4M | -$268.6M | -$156.2M | -$108.1M | -$77.5M | $10.3M | $13.9M |
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