Summary by Moomoo AI
YXT.com Group Holding Limited reported unaudited financial results for the first nine months of 2024. Total revenues decreased to RMB241.7 million (US$34.4 million) from RMB328.8 million in the same period last year. Gross margin improved to 60.4% from 59.3% year-over-year.Net loss narrowed significantly to RMB14.9 million (US$2.1 million) from RMB245.3 million in the prior year period, driven by cost optimization initiatives and operational improvements. The number of subscription customers decreased to 2,428 as of September 30, 2024, reflecting the company's strategic shift toward large enterprise accounts.YXT.com maintained a strong balance sheet with cash and cash equivalents of RMB488.7 million (US$69.6 million) as of September 30, 2024. The company remains focused on deepening relationships with large enterprise clients, particularly Fortune 500 companies, while continuing to invest in AI-enabled product innovation to drive long-term growth in the digital corporate learning market.
