Youdao Reports Summer Business Updates
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.
- Paid student enrollments surged to over 460,000, a 500% year-over-year increase.
- Increased investments in sales and marketing to capitalize on summer enrollment opportunities.
- Potential widening of net losses in the ongoing quarter due to increased investments.
BEIJING, Sept. 1, 2020 /PRNewswire/ -- Youdao, Inc. ("Youdao" or the "Company") (NYSE: DAO), a leading intelligent learning company in China, today announced its summer business updates.
Summer Business Updates
Summer is a popular season for Chinese students to enroll in after-school tutoring courses for the coming academic year. Today, the Company is pleased to report that its paid student enrollments* for K-12 courses of Youdao Premium Courses amounted to over 460,000 in the two-month period of July and August 2020, representing an increase of over
To take advantage of the tremendous growth potential of China's online education industry, the Company has steadily strengthened its core teaching and content development capabilities. Furthermore, to tap into the summer season opportunity, the Company significantly increased its sales and marketing efforts. While such investments may widen net losses for this ongoing quarter, the Company expects to benefit from these measures in the long run.
Paid student enrollments are subject to future adjustments (such as refunds) and represent only one measure of the Company's performance and should not be relied on as an indicator of our financial results, which depend on a variety of factors. Our financial results will be released when we announce Q3 earnings.
Note:
* "paid student enrollments" for a specified period refers to the cumulative number of paid courses enrolled in by the Company's students, including multiple paid courses enrolled in by the same student, after deducting the number of courses the tuition of which were fully refunded.
Conference Call
Youdao's management team will host a teleconference call at 8:00 p.m. Eastern Time on September 1, 2020 (8:00 a.m. Beijing time on September 2, 2020). Youdao's management will be on the call to answer questions. Details for the conference call are as follows:
Conference ID: 8597567
Registration Link: http://apac.directeventreg.com/registration/event/8597567
All participants must use the link provided above to complete the online registration process in advance of the conference call. Upon registering, each participant will receive a set of participant dial-in numbers, an event passcode, and a unique registrant ID, which will be used to join the conference call.
A live and archived webcast of the conference call will be available on the Company's investor relations website at http://ir.youdao.com.
About Youdao, Inc.
Youdao, Inc. (NYSE: DAO) is a leading intelligent learning company in China dedicated to developing and using technologies to provide learning content, applications and solutions to users of all ages. Building on the popularity of its online knowledge tools such as Youdao Dictionary, Youdao Cloudnote and Youdao Translation, Youdao now offers online courses covering a wide spectrum of age groups, subject matters, learning goals and areas of interest. In addition, Youdao has developed a variety of interactive learning apps and smart learning devices. Youdao was founded in 2006 as part of NetEase, Inc. (NASDAQ: NTES; HKEX: 9999), a leading internet technology company in China.
For more information, please visit: http://ir.youdao.com.
Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding such risks, uncertainties or factors is included in the Company's filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.
For investor and media inquiries, please contact:
In China:
Pei Du
Youdao, Inc.
Tel: +86-10-8255-8907
E-mail: IR@rd.netease.com
The Piacente Group, Inc.
Emilie Wu
Tel: +86-21-6039-8363
E-mail: youdao@thepiacentegroup.com
In the United States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: youdao@thepiacentegroup.com
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SOURCE Youdao, Inc.
FAQ
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