QuantaSing Announces Unaudited Financial Results for the First Quarter of Fiscal Year 2025
QuantaSing Group (NASDAQ: QSG) reported its Q1 FY2025 financial results, showing revenues of RMB810.4 million (US$115.5 million), a 6.8% year-over-year decrease. Net income reached RMB80.7 million (US$11.5 million), up from RMB66.7 million in Q1 FY2024. The company's strategic pivot towards the silver economy led to some revenue fluctuations, with individual online learning services revenue declining 6.2% YoY. Total registered users increased by 30.2% to 134.6 million, while paying learners grew 16.8% YoY. The company maintained a healthy net margin of 10.0% and strengthened its cash position to RMB1,193.7 million.
QuantaSing Group (NASDAQ: QSG) ha riportato i risultati finanziari del primo trimestre dell'anno fiscale 2025, evidenziando ricavi di RMB810,4 milioni (US$115,5 milioni), con una diminuzione del 6,8% rispetto all'anno precedente. L'utile netto ha raggiunto RMB80,7 milioni (US$11,5 milioni), in aumento rispetto a RMB66,7 milioni nel primo trimestre dell'anno fiscale 2024. La strategia dell'azienda di orientarsi verso l'economia d'argento ha portato a fluttuazioni nei ricavi, con un calo del 6,2% nei servizi di apprendimento online individuali anno su anno. Gli utenti registrati totali sono aumentati del 30,2%, raggiungendo 134,6 milioni, mentre gli studenti paganti sono cresciuti del 16,8% rispetto all'anno precedente. L'azienda ha mantenuto un margine netto sano del 10,0% e ha rafforzato la sua posizione liquida a RMB1.193,7 milioni.
QuantaSing Group (NASDAQ: QSG) presentó sus resultados financieros del primer trimestre del año fiscal 2025, mostrando ingresos de RMB810.4 millones (US$115.5 millones), una disminución del 6.8% en comparación con el año anterior. El ingreso neto alcanzó RMB80.7 millones (US$11.5 millones), un aumento desde RMB66.7 millones en el primer trimestre del año fiscal 2024. El cambio estratégico de la empresa hacia la economía plateada provocó algunas fluctuaciones en los ingresos, con una caída del 6.2% en los servicios de aprendizaje en línea individuales año tras año. El total de usuarios registrados aumentó un 30.2%, alcanzando 134.6 millones, mientras que los estudiantes que pagan crecieron un 16.8% interanual. La empresa mantuvo un margen neto saludable del 10.0% y fortaleció su posición de efectivo a RMB1,193.7 millones.
QuantaSing Group (NASDAQ: QSG)는 2025 회계연도 첫 분기 재무 결과를 발표하며 RMB810.4 백만 (US$115.5 백만)의 수익을 보여주었고, 이는 전년 대비 6.8% 감소한 수치입니다. 순이익은 RMB80.7 백만 (US$11.5 백만)에 달했으며, 이는 2024 회계연도 첫 분기의 RMB66.7 백만에서 증가한 것입니다. 기업이 은색 경제로 방향을 전환하면서 일부 수익의 변동이 있었고, 개인 온라인 학습 서비스의 수익은 전년 대비 6.2% 감소했습니다. 전체 등록 사용자 수는 30.2% 증가하여 1억3460만 명에 달하고, 유료 학습자는 전년 대비 16.8% 증가했습니다. 회사는 10.0%의 건전한 순이익률을 유지하며, 현금 보유액을 RMB1,193.7 백만으로 강화했습니다.
QuantaSing Group (NASDAQ: QSG) a annoncé ses résultats financiers du premier trimestre de l'exercice 2025, affichant des revenus de RMB810,4 millions (US$115,5 millions), soit une baisse de 6,8% par rapport à l'année précédente. Le revenu net a atteint RMB80,7 millions (US$11,5 millions), en hausse par rapport à RMB66,7 millions au premier trimestre de l'exercice 2024. Le changement stratégique de l'entreprise vers l'économie argentée a entraîné des fluctuations de revenus, avec une baisse de 6,2% des revenus des services d'apprentissage en ligne individuels d'une année sur l'autre. Le nombre total d'utilisateurs enregistrés a augmenté de 30,2%, atteignant 134,6 millions, tandis que le nombre d'apprenants payants a augmenté de 16,8% d'une année sur l'autre. L'entreprise a maintenu une marge nette saine de 10,0% et a renforcé sa position de trésorerie à RMB1.193,7 millions.
QuantaSing Group (NASDAQ: QSG) hat seine Finanzzahlen für das erste Quartal des Geschäftsjahres 2025 veröffentlicht und dabei Einnahmen von RMB810,4 Millionen (US$115,5 Millionen) gemeldet, was einem Rückgang von 6,8% im Jahresvergleich entspricht. Der Nettogewinn belief sich auf RMB80,7 Millionen (US$11,5 Millionen), ein Anstieg von RMB66,7 Millionen im ersten Quartal des Geschäftsjahres 2024. Die strategische Neuausrichtung des Unternehmens auf die Silberwirtschaft führte zu Schwankungen bei den Einnahmen, wobei die Einnahmen aus individuellen Online-Lernservices um 6,2% im Jahresvergleich zurückgingen. Die Gesamtzahl der registrierten Nutzer stieg um 30,2% auf 134,6 Millionen, während die zahlenden Lernenden um 16,8% im Jahresvergleich zunahmen. Das Unternehmen hielt eine gesunde Nettomarge von 10,0% aufrecht und verstärkte seine Liquidität auf RMB1.193,7 Millionen.
- Net income increased to RMB80.7 million from RMB66.7 million YoY
- Total registered users grew 30.2% YoY to 134.6 million
- Paying learners increased 16.8% YoY
- Strong cash position of RMB1,193.7 million
- Healthy net margin of 10.0%
- Consumer business revenue increased 10.4% YoY
- Overall revenue decreased 6.8% YoY to RMB810.4 million
- Individual online learning services revenue declined 6.2% YoY
- Enterprise services revenue decreased 30.2% YoY
- Cost of revenues increased 13.8% YoY
- Adjusted net income decreased to RMB88.0 million from RMB94.0 million YoY
Insights
The Q1 FY2025 results show mixed performance amid strategic transition.
The company's pivot to the silver economy market is impacting short-term growth but demonstrates promising signs:
- Registered users grew
30.2% YoY to 134.6 million - Paying learners increased
16.8% YoY - Strong cash position of
RMB1,193.7 million
Cost optimization efforts are bearing fruit with
BEIJING, Nov. 27, 2024 (GLOBE NEWSWIRE) -- QuantaSing Group Limited (NASDAQ: QSG) (“QuantaSing” or the “Company”), a leading lifestyle solution provider empowering adults to live better and longer, today announced its unaudited financial results for the first quarter of the fiscal year ending June 30, 2025 (the “first quarter of FY 2025”, which refers to the quarter from July 1, 2024 to September 30, 2024).
Highlights for the First Quarter of FY 2025
- Revenues for the first quarter of FY 2025 were RMB810.4 million (US
$115.5 million ), representing a decrease of19.0% from the fourth quarter of the fiscal year ended June 30, 2024 (the “fourth quarter of FY 2024”) and a decrease of6.8% from the first quarter of the fiscal year ended June 30, 2024 (the “first quarter of FY 2024”). - Gross billings of individual online learning services1 for the first quarter of FY 2025 were RMB713.7 million (US
$101.7 million ), representing a decrease of7.8% from the fourth quarter of FY 2024 and a decrease of6.3% from the first quarter of FY 2024. - Net income for the first quarter of FY 2025 was RMB80.7 million (US
$11.5 million ), compared with RMB196.6 million in the fourth quarter of FY 2024, and RMB66.7 million in the first quarter of FY 2024. - Adjusted net income2 for the first quarter of FY 2025 was RMB88.0 million (US
$12.5 million ), compared with RMB193.6 million in the fourth quarter of FY 2024, and RMB94.0 million in the first quarter of FY 2024. - Total registered users increased by
30.2% to approximately 134.6 million as of September 30, 2024, from 103.3 million as of September 30, 2023. - Paying learners increased by
16.8% year over year to approximately 0.4 million in the first quarter of FY 2025.
Mr. Peng Li, Chairman and Chief Executive Officer of QuantaSing, commented, “Our first quarter performance underscores our strategic pivot towards the burgeoning silver economy in China. This transition is a calculated move designed to align our offerings with the evolving needs of our aging population. While we anticipate some short-term revenue fluctuations as we implement this strategy, we remain committed to maintaining robust profitability and positive cash flow. Our partnerships with community centers and the introduction of integrated products, such as our 'Food as Medicine' line, are pivotal in creating a holistic ecosystem that addresses the lifestyle and wellness demands of older adults. As we advance through fiscal year 2025, our focus will be on establishing sustainable competitive advantages that contribute to long-term value for our shareholders.”
Mr. Dong Xie, Chief Financial Officer of QuantaSing, added, “The financial results for the first quarter reflect our commitment to profitability during this strategic transition. We have seen improvements in operational efficiency as we shift from a traffic-driven to a product-driven business model, while also scaling back investments in non-core areas. Our disciplined cost management has resulted in a healthy net margin of
Financial Results for the First Quarter of FY 2025
Revenues
Revenues were RMB810.4 million (US
- Revenues from individual online learning services decreased by
6.2% year over year to RMB709.0 million (US$101.0million ) in the first quarter of FY 2025, from RMB755.9 million in the first quarter of FY 2024. This decrease was primarily due to the decline of RMB82.8 million (US$11.8 million ) in revenues from financial literacy courses and the decline of RMB35.6 million (US$5.1 million ) in revenues from recreation and leisure courses3, partially offset by the increase of RMB71.5 million (US$10.2 million ) in revenues from skills upgrading courses3. - Revenues from enterprise services were RMB47.8 million (US
$6.8 million ) in the first quarter of FY 2025, compared to RMB68.4 million in the first quarter of FY 2024, representing a year-over year change of30.2% , primarily due to a change in revenue streams from transactions involving a related party and certain other third parties. - Revenues from consumer business4 increased to RMB49.5 million (US
$7.1 million ) in the first quarter of FY 2025, representing a10.4% increase from RMB44.8 million in the first quarter of FY 2024, as a result of the Company’s expansion into wellness products. - Revenues from others4 were RMB4.1 million (US
$0.6 million ) in the first quarter of FY 2025, compared to nil in the first quarter of FY 2024, primarily due to revenue generated from the Company’s online language education services for children.
Cost of revenues
Cost of revenues was RMB134.4 million (US
Sales and marketing expenses
Sales and marketing expenses were RMB515.0 million (US
Research and development expenses
Research and development expenses were RMB28.1 million (US
General and administrative expenses
General and administrative expenses were RMB30.6 million (US
Net income and adjusted net income
Net income was RMB80.7 million (US
Earnings per share and adjusted earnings per share5
Basic and diluted net income per share were RMB0.52 (US
Balance Sheet
As of September 30, 2024, the Company had cash and cash equivalents, restricted cash and short-term investments of RMB1,193.7 million (US
Recent Developments
Payment of a special cash dividend
In October 2024, the Company’s board of directors declared a special cash dividend in the amount of US
Share repurchase program
On June 11, 2024, the Company announced that its board of directors had approved a share repurchase program of up to US
Conference Call Information
The Company's management team will hold an earnings conference call at 07:00 A.M. Eastern Time on Wednesday, November 27, 2024 (08:00 P.M. Beijing Time on the same day) to discuss the financial results. Listeners may access the call by dialing the following numbers:
| International: | 1-412-902-4272 |
| United States Toll Free: | 1-888-346-8982 |
| Mainland China Toll Free: | 4001-201203 |
| Hong Kong Toll Free: | 800-905945 |
| Conference ID: | QuantaSing Group Limited |
The replay will be accessible through December 4, 2024 by dialing the following numbers:
| International: | 1-412-317-0088 |
| United States Toll Free: | 1-877-344-7529 |
| Replay Access Code: | 9195244 |
A live and archived webcast of the conference call will be available at the Company's investor relations website at https://ir.quantasing.com.
Non-GAAP Financial Measures
To supplement the Company’s consolidated financial statements, which are prepared and presented in accordance with U.S. GAAP, the Company uses gross billings of individual online learning services, adjusted net income and basic and diluted adjusted net income per share as its non-GAAP financial measures. Gross billings of individual online learning services for a specific period represents revenues of the Company’s individual online learning services net of the changes in deferred revenues in such period, further adjusted by value-added tax in such period. Adjusted net income represents net income excluding share-based compensation expense. Basic and diluted adjusted net income per share represents adjusted net income attributable to ordinary shareholders of QuantaSing Group Limited divided by weighted average number of ordinary shares outstanding during the periods used in computing adjusted net income per share, basic and diluted. The Company believes that the non-GAAP financial measures provide useful information about the Company's results of operations, enhance the overall understanding of the Company's past performance and future prospects and allow for greater visibility with respect to key metrics used by the Company's management in its financial and operational decision-making.
The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools, and when assessing the Company's operating performance, investors should not consider them in isolation, or as a substitute for revenue, net income, net income per share, basic and diluted or other consolidated statements of operations data prepared in accordance with U.S. GAAP. The Company's definition of non-GAAP financial measures may differ from those of industry peers and may not be comparable with their non-GAAP financial measures.
The Company mitigates these limitations by reconciling the non-GAAP financial measures to the most comparable U.S. GAAP performance measures, all of which should be considered when evaluating the Company's performance. For more information on these non-GAAP financial measures, please see the table captioned “QuantaSing Group Limited Unaudited Reconciliation of GAAP and Non-GAAP Results” near the end of this release.
Exchange Rate Information
This announcement contains translations of certain Renminbi (“RMB”) amounts into U.S. dollars (“US$”) at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from Renminbi to U.S. dollars were made at the rate of RMB7.0176 to US
Safe Harbor Statements
This announcement contains forward-looking statements within the meaning of Section 27A of Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended and the Private Securities Litigation Reform Act of 1955. All statements other than statements of historical or current fact included in this press release are forward-looking statements, including but not limited to statements regarding QuantaSing’s financial outlook, beliefs and expectations. These statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “potential,” “continue,” “ongoing,” “targets,” “guidance” and similar statements. Among other things, the Financial Outlook in this announcement contains forward-looking statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases, and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s growth strategies; its future business development, results of operations and financial condition; its ability to attract and retain new users and learners and to increase the spending and revenues generated from users and learners; its ability to maintain and enhance the recognition and reputation of its brand; its expectations regarding demand for and market acceptance of its services and products; the expected growth, trends and competition in the markets that the Company operates in; changes in its revenues and certain cost or expense items; PRC governmental policies and regulations relating to the Company’s business and industry, general economic and political conditions in China and globally, and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks, uncertainties, or factors is included in the Company’s filings with the SEC, including, without limitation, the final prospectus related to the IPO filed with the SEC dated January 24, 2023. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and the Company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof.
About QuantaSing Group Limited
QuantaSing is a leading lifestyle solution provider empowering adults to live better and longer. Leveraging its profound understanding of adult users and robust infrastructure, QuantaSing offers easy-to-understand, affordable, and accessible online courses to adult learners as well as consumer products and service in selected areas to address the senior users’ aspirations for wellness.
For more information, please visit: https://ir.quantasing.com.
Contact
Investor Relations
Leah Guo
QuantaSing Group Limited
Email: ir@quantasing.com
Tel: +86 (10) 6493-7857
Robin Yang, Partner
ICR, LLC
Email: QuantaSing.IR@icrinc.com
Phone: +1 (212) 537-0429
_________________________________
1 Gross billings of individual online learning services is a non-GAAP financial measure. For a reconciliation of revenues of individual online learning services to gross billings of individual online learning services, see the “Non-GAAP Financial Measures” section and the table captioned “QuantaSing Group Limited Unaudited Reconciliation of GAAP and Non-GAAP Results” below.
2 Adjusted net income is a non-GAAP financial measure. For a reconciliation of net income to adjusted net income, see the “Non-GAAP Financial Measures” section and the table captioned “QuantaSing Group Limited Unaudited Reconciliation of GAAP and Non-GAAP Results” below.
3 The Company has adopted a new presentation of its revenues since the second quarter of FY 2024, which split other personal interest courses into skills upgrading courses and recreation and leisure courses, to better align with its business strategies and provide useful and updated information to investors. Skills upgrading courses mainly include short-video production courses and memory training courses. Recreation and leisure courses mainly include personal well-being courses, electronic keyboard courses and standing meditation courses. The historical revenues presentation has been conformed to the current presentation.
4 Effective from the fourth quarter of FY 2024, the Company has introduced “Revenues from Consumer Business” as a separate line item. This revenue was previously included in “Revenues from Others”. The historical revenues presentation has been conformed to the current presentation.
5 Basic and diluted adjusted net income per share are non-GAAP financial measures. For a reconciliation of basic and diluted net income per share to basic and diluted adjusted net income per share, see the “Non-GAAP Financial Measures” section and the table captioned “QuantaSing Group Limited Unaudited Reconciliation of GAAP and Non-GAAP Results” below.
| QUANTASING GROUP LIMITED UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts in thousands, except for share and per share data) | |||||
| As of | |||||
| June 30, 2024 | September 30, 2024 | September 30, 2024 | |||
| RMB | RMB | US$ | |||
| ASSETS | |||||
| Current assets: | |||||
| Cash and cash equivalents | 779,931 | 1,027,165 | 146,370 | ||
| Restricted cash | 160 | 250 | 36 | ||
| Short-term investments | 246,195 | 166,299 | 23,697 | ||
| Accounts receivable, net | 16,676 | 17,192 | 2,450 | ||
| Amounts due from related parties | 4,488 | - | - | ||
| Inventory, net | 6,345 | 7,584 | 1,081 | ||
| Prepayments and other current assets | 275,549 | 209,870 | 29,906 | ||
| Total current assets | 1,329,344 | 1,428,360 | 203,540 | ||
| Non-current assets: | |||||
| Property and equipment, net | 6,569 | 5,794 | 826 | ||
| Long-term investments | 9,010 | 10,623 | 1,514 | ||
| Intangible assets, net | - | 59 | 8 | ||
| Operating lease right-of-use assets | 58,889 | 47,816 | 6,814 | ||
| Deferred tax assets | 847 | 2,193 | 313 | ||
| Other non-current assets | 21,360 | 22,009 | 3,136 | ||
| Total non-current assets | 96,675 | 88,494 | 12,611 | ||
| TOTAL ASSETS | 1,426,019 | 1,516,854 | 216,151 | ||
| LIABILITIES | |||||
| Current liabilities: | |||||
| Accounts payables | 62,066 | 61,051 | 8,700 | ||
| Accrued expenses and other current liabilities | 190,508 | 201,159 | 28,665 | ||
| Income tax payable | 20,399 | 45,382 | 6,467 | ||
| Contract liabilities, current portion | 385,227 | 347,744 | 49,553 | ||
| Advance from customers | 162,257 | 163,004 | 23,228 | ||
| Operating lease liabilities, current portion | 49,099 | 56,156 | 8,002 | ||
| Total current liabilities | 869,556 | 874,496 | 124,615 | ||
| Non-current liabilities: | |||||
| Contract liabilities, non-current portion | 11,365 | 20,221 | 2,881 | ||
| Operating lease liabilities, non-current portion | 16,989 | 2,887 | 411 | ||
| Deferred tax liabilities | 11,625 | 16,528 | 2,355 | ||
| Total non-current liabilities | 39,979 | 39,636 | 5,647 | ||
| TOTAL LIABILITIES | 909,535 | 914,132 | 130,262 | ||
| QUANTASING GROUP LIMITED UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - continued (Amounts in thousands, except for share and per share data) | ||||||||
| As of | ||||||||
| June 30, 2024 | September 30, 2024 | September 30, 2024 | ||||||
| RMB | RMB | US$ | ||||||
| SHAREHOLDERS’ EQUITY | ||||||||
| Class A ordinary shares | 81 | 81 | 12 | |||||
| Class B ordinary shares | 34 | 34 | 5 | |||||
| Treasury stock | (109,257 | ) | (80,430 | ) | (11,461 | ) | ||
| Additional paid-in capital | 1,192,474 | 1,172,743 | 167,115 | |||||
| Accumulated other comprehensive income | 17,313 | 13,767 | 1,962 | |||||
| Accumulative deficit | (584,161 | ) | (503,473 | ) | (71,744 | ) | ||
| TOTAL SHAREHOLDERS’ EQUITY | 516,484 | 602,722 | 85,889 | |||||
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | 1,426,019 | 1,516,854 | 216,151 | |||||
| QUANTASING GROUP LIMITED UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Amounts in thousands, except for share and per share data) | ||||||||
| For the Three Months Ended September 30, | ||||||||
| 2023 | 2024 | 2024 | ||||||
| RMB | RMB | US$ | ||||||
| Revenues | 869,136 | 810,404 | 115,482 | |||||
| Cost of revenues | (118,192 | ) | (134,448 | ) | (19,159 | ) | ||
| Gross Profit | 750,944 | 675,956 | 96,323 | |||||
| Operating expenses: | ||||||||
| Sales and marketing expenses | (620,152 | ) | (515,009 | ) | (73,388 | ) | ||
| Research and development expenses | (43,800 | ) | (28,080 | ) | (4,001 | ) | ||
| General and administrative expenses | (42,762 | ) | (30,621 | ) | (4,363 | ) | ||
| Total operating expenses | (706,714 | ) | (573,710 | ) | (81,752 | ) | ||
| Income from operations | 44,230 | 102,246 | 14,571 | |||||
| Other income: | ||||||||
| Interest income | 3,447 | 1,939 | 276 | |||||
| Others, net | 12,257 | 9,735 | 1,387 | |||||
| Income before income tax | 59,934 | 113,920 | 16,234 | |||||
| Income tax expense | 6,746 | (33,232 | ) | (4,736 | ) | |||
| Net income | 66,680 | 80,688 | 11,498 | |||||
| Net income attributable to ordinary shareholders | 66,680 | 80,688 | 11,498 | |||||
| Other comprehensive income | ||||||||
| Foreign currency translation adjustments, net of nil tax | (2,005 | ) | (3,546 | ) | (505 | ) | ||
| Total other comprehensive income | (2,005 | ) | (3,546 | ) | (505 | ) | ||
| Total comprehensive income | 64,675 | 77,142 | 10,993 | |||||
| Net income per ordinary share | ||||||||
| - Basic | 0.39 | 0.52 | 0.07 | |||||
| - Diluted | 0.38 | 0.50 | 0.07 | |||||
| Weighted average number of ordinary shares used in computing net income per share | ||||||||
| - Basic | 169,056,984 | 156,445,053 | 156,445,053 | |||||
| - Diluted | 175,003,606 | 161,309,229 | 161,309,229 | |||||
| Share-based compensation expenses included in | ||||||||
| Cost of revenues | (3,778 | ) | (2,303 | ) | (328 | ) | ||
| Sales and marketing expenses | (4,489 | ) | (39 | ) | (6 | ) | ||
| Research and development expenses | (5,610 | ) | (1,898 | ) | (270 | ) | ||
| General and administrative expenses | (13,409 | ) | (3,032 | ) | (432 | ) | ||
| QUANTASING GROUP LIMITED UNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS (Amounts in thousands, except for share and per share data) | ||||||||
| The following table below sets forth a reconciliation of revenues to gross billings for the periods indicated: | ||||||||
| For the Three Months Ended September 30, | ||||||||
| 2023 | 2024 | 2024 | ||||||
| RMB | RMB | US$ | ||||||
| Revenues of individual online learning services: | 755,910 | 709,012 | 101,033 | |||||
| Add: value-added tax | 47,579 | 40,691 | 5,798 | |||||
| Add: ending deferred revenues (1) | 619,954 | 529,054 | 75,390 | |||||
| Less: beginning deferred revenues (1) | (661,360 | ) | (565,030 | ) | (80,516 | ) | ||
| | ||||||||
| Gross billings of individual online learning services | 762,083 | 713,727 | 101,705 | |||||
| (1) Deferred revenues include contract liabilities, advance from customers, and refund liability of individual online learning services included in “accrued expenses and other current liabilities.” | ||||||||
| QUANTASING GROUP LIMITED UNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS - continued (Amounts in thousands, except for share and per share data) | |||||
| The following table below sets forth a reconciliation of net income to adjusted net income and basic and diluted net income per share to basic and diluted adjusted net income per share for the periods indicated: | |||||
| For the Three Months Ended September 30, | |||||
| 2023 | 2024 | 2024 | |||
| RMB | RMB | US$ | |||
| Net income | 66,680 | 80,688 | 11,498 | ||
| Add: Share-based compensation expenses | 27,286 | 7,272 | 1,036 | ||
| Adjusted net income | 93,966 | 87,960 | 12,534 | ||
| | |||||
| Net income attributable to ordinary shareholders | 66,680 | 80,688 | 11,498 | ||
| Add: Share-based compensation expenses | 27,286 | 7,272 | 1,036 | ||
| Adjusted net income attributable to ordinary shareholders | 93,966 | 87,960 | 12,534 | ||
| Weighted average number of ordinary shares used in computing net income per share | |||||
| - Basic | 169,056,984 | 156,445,053 | 156,445,053 | ||
| - Diluted | 175,003,606 | 161,309,229 | 161,309,229 | ||
| Weighted average number of ordinary shares used in computing adjusted net income per share | |||||
| - Basic | 169,056,984 | 156,445,053 | 156,445,053 | ||
| - Diluted | 175,003,606 | 161,309,229 | 161,309,229 | ||
| Net income per ordinary share | |||||
| - Basic | 0.39 | 0.52 | 0.07 | ||
| - Diluted | 0.38 | 0.50 | 0.07 | ||
| Non-GAAP adjustments to net income per ordinary share | |||||
| - Basic | 0.17 | 0.04 | 0.01 | ||
| - Diluted | 0.16 | 0.05 | 0.01 | ||
| Adjusted net income per ordinary share | |||||
| - Basic | 0.56 | 0.56 | 0.08 | ||
| - Diluted | 0.54 | 0.55 | 0.08 | ||
FAQ
What was QuantaSing's (QSG) revenue in Q1 FY2025?
How much net income did QuantaSing (QSG) generate in Q1 FY2025?
What was QuantaSing's (QSG) user growth in Q1 FY2025?
What is QuantaSing's (QSG) current cash position?
