Youdao, Inc. - DAO STOCK NEWS

Youdao, Inc. (NYSE: DAO), a prominent intelligent learning company in China, addressed recent media reports concerning anticipated regulatory changes by PRC regulators regarding after-school tutoring services. As of the press release date, the company has yet to receive official notification about the proposed regulations but is committed to monitoring developments within the PRC education sector closely. Youdao specializes in learning technologies and offers a wide range of content and applications for users of all ages, building on its established online tools like Youdao Dictionary and Youdao Translation.

Youdao, Inc. (DAO) announced its first-quarter financial results for 2021, revealing net revenues of RMB1.3 billion (US$204.5 million), a 147.5% increase year-over-year. Learning services contributed RMB998.9 million, up 156.8%, while learning products soared 279.8% to RMB201.9 million. Online marketing revenues increased by 40.1% to RMB139.1 million. The gross profit reached RMB767.5 million with a gross margin of 57.3%, an improvement from 43.5% in 2020. However, operating expenses surged 164.3% to RMB1.1 billion, leading to a net loss of RMB325.8 million.

Youdao, Inc. (NYSE: DAO), a prominent intelligent learning company in China, has filed its annual report on Form 20-F for the fiscal year ending December 31, 2020, with the U.S. SEC. The report is accessible on the Company's investor relations website and the SEC's site. Shareholders can request a hard copy of the report at no cost. Founded in 2006, Youdao offers a variety of online educational tools, courses, and smart learning devices aimed at users of all ages.

Youdao, Inc. (NYSE: DAO), a prominent intelligent learning company in China, announced it will report its first-quarter 2021 financial results on May 18, 2021, prior to the U.S. market opening. The earnings conference call will take place at 7:00 AM ET, where management will discuss results and answer questions. Investors can access the live call via dial-in or through a webcast on the company's investor relations website. A replay of the call will be available post-event until May 25, 2021.

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.