Youdao, Inc. American Depositary Shares, each representing one - DAO STOCK NEWS

Youdao, Inc. (NYSE: DAO) reported significant growth in its fourth quarter and fiscal year 2020 results. For Q4, total net revenues reached RMB1.1 billion (US$169.6 million), a 169.7% increase year-over-year. Learning services and products drove this growth, with revenues of RMB731.6 million and RMB237.3 million, respectively. Gross profit surged to RMB525.5 million, improving the gross margin to 47.5%. However, the company reported a net loss of RMB447.8 million (US$68.6 million) for Q4. The fiscal year total net revenues were RMB3.2 billion (US$485.4 million), up 142.7% from 2019.

Youdao, Inc. (NYSE: DAO) announced it will release its fourth quarter and fiscal year 2020 financial results on February 25, 2021, prior to the U.S. market opening. A teleconference call will follow at 6:00 a.m. ET for management to discuss results and answer questions. The call will be accessible via multiple dial-in options for different regions. A live and archived webcast will also be available on Youdao's investor relations website. Youdao specializes in intelligent learning solutions in China.

IMVU Inc. has secured over $35 million in a strategic investment led by Structural Capital and NetEase, aimed at enhancing product development and expanding its growing business. This funding supports the rebranding of IMVU as Together Labs, which emphasizes authentic human connections in virtual spaces. The company experienced significant growth in 2020, boasting over 7 million monthly active users and the launch of VCOIN, enabling users to engage in peer-to-peer transactions. Together Labs is poised for further growth with the upcoming WithMe platform.

On December 1, 2020, Youdao, Inc. (NYSE: DAO) launched its third-generation Dictionary Pen in Beijing, China. This innovative device features two new functions: 'Tap and Check', allowing instant translations with a single tap, and 'Interactive Reading', designed for younger users to enhance interactive learning. CEO Dr. Feng Zhou emphasized the company's commitment to redefining learning devices and providing high-quality products and services to support long-term growth. Youdao aims to leverage its AI technology to improve user experience and expand its customer base.

Youdao, Inc. (NYSE: DAO) reported a remarkable financial performance for Q3 2020, with total net revenues reaching RMB896.0 million (US$132.0 million), a significant 159.0% increase year-over-year. Revenues from learning services surged by 239.1% to RMB763.5 million (US$112.4 million), driven by a 437.9% rise in K-12 enrollments. Gross profit leapt 361.2% to RMB411.6 million (US$60.6 million), boosting gross margin to 45.9%. However, the company faced increasing operating expenses of RMB1.3 billion (US$192.3 million), leading to a net loss of RMB877.8 million (US$129.3 million), compared to a loss of RMB242.2 million last year.

Youdao, Inc. (NYSE: DAO), a prominent intelligent learning company in China, will release its third quarter 2020 financial results on November 19, 2020, before the U.S. market opens. The earnings call is scheduled for 6:00 a.m. ET on the same day, featuring management discussions and a Q&A session. Investors can access the call via dial-in numbers provided or through a webcast on Youdao's investor relations site. Following the live call, a replay will be available until November 26, 2020.

Youdao, Inc. (NYSE: DAO) reported significant growth in its summer business updates, with paid student enrollments for K-12 courses exceeding 460,000 during July and August 2020, marking a 500% increase from the previous year. The company has intensified its sales and marketing efforts, anticipating long-term benefits despite potential short-term losses. Financial results will be announced with the Q3 earnings report. A conference call is scheduled for September 1, 2020, to discuss the updates further.

Youdao, Inc. (NYSE: DAO) reported impressive second-quarter 2020 results, with total net revenues reaching RMB623.3 million (US$88.2 million), a 93.1% increase year-over-year. Revenue from learning services surged by 190.0% to RMB520.1 million (US$73.6 million), driven by a 358.9% jump in K-12 paid student enrollments. Gross profit rose to RMB281.5 million (US$39.8 million), up 165.4%, improving gross margin to 45.2%. However, net loss attributable to shareholders increased to RMB257.8 million (US$36.5 million), reflecting a challenged operating environment. The company has a strong cash balance of RMB1.8 billion (US$253.4 million) supporting its growth initiatives.

Youdao, Inc. (NYSE: DAO) will announce its second quarter 2020 financial results on August 13, 2020, before U.S. markets open. A teleconference and webcast will follow at 6:30 a.m. ET. The company plans to discuss its quarterly performance and answer investor questions. Live streaming and archived sessions will be available on its investor relations website. Founded in 2006, Youdao is a leading intelligent learning firm in China, providing online courses and educational technologies.