该公司预计，2024财年第四季度营收在12.88亿元至13.08亿元之间，即同比增长69.2%至71.9%。Gaotu announced its results for the third quarter of the 2024 fiscal year.
Operating loss was $0.49 billion, up from 99.5 million yuan in the same period last year. Gross margin fell to 64.4% from 72.4% in the same period last year. Operating expenses were 1.268 billion yuan, a significant increase of 89.1% year over year, mainly due to workforce expansion and increased spending on marketing and brand activities.
The net operating cash outflow was 0.7144 billion yuan, and the net operating cash inflow for the same period last year was 0.2099 billion yuan. As of September 30, 2024, the total amount of the company's cash and cash equivalents, restricted cash, and short-term and long-term investments was $3.31 billion.
The company expects revenue for the fourth quarter of fiscal year 2024 to be between 1.288 billion yuan and 1.308 billion yuan, or a year-on-year increase of 69.2% to 71.9%.
As of press release, US stocks of Gaotu fell more than 12% before the market on Wednesday.
