Sunlands Technology Group Announces Unaudited Fourth Quarter and Full Year 2022 Financial Results
Sunlands Technology Group (NYSE: STG) reported a 1.7% decline in Q4 2022 net revenues to RMB578.6 million (US$83.9 million), while gross billings saw a larger drop of 23.3% year-over-year. However, Q4 net income increased to RMB181.0 million (US$26.2 million), up from RMB150.8 million in Q4 2021, resulting in a net income margin of 31.3%. New student enrollments reached 161,348, a 48.2% increase year-over-year. For full-year 2022, net revenues decreased by 7.4% to RMB2,323.1 million (US$336.8 million). Looking forward, the company expects Q1 2023 net revenues to be between RMB530 million and RMB550 million, reflecting a potential decline of 10.3% to 13.6% year-over-year.
- Q4 net income increased by 20.0% year-over-year to RMB181.0 million.
- New student enrollments grew by 48.2% year-over-year to 161,348.
- Operating expenses were reduced by 16.1% year-over-year.
- Q4 net revenues decreased by 1.7% year-over-year.
- Q4 gross billings decreased by 23.3% year-over-year.
- Full-year net revenues declined by 7.4% compared to 2021.
- Q1 2023 revenue guidance indicates a potential decline of 10.3% to 13.6% year-over-year.
Q4 net revenues decreased by
Q4 gross billings (non-GAAP) decreased by
Q4 net income reached
Fourth Quarter 2022 Financial and Operational Snapshots
- Net revenues were
RMB578.6 million (US ), representing a$83.9 million 1.7% decrease year-over-year. - Gross billings (non-GAAP) were
RMB370.8 million (US ), representing a$53.8 million 23.3% decrease year-over-year. - Gross profit was
RMB503.3 million (US ), representing a$73.0 million 0.8% increase year-over-year. - Net income was
RMB181.0 million (US ), compared with net income of$26.2 million RMB150.8 million in the fourth quarter of 2021. - Net income margin, defined as net income as a percentage of net revenues, increased to
31.3% from25.6% in the fourth quarter of 2021. - New student enrollments[1] were 161,348, representing a
48.2% increase year-over-year. - As of
December 31, 2022 , the Company's deferred revenue balance wasRMB1,690.9 million (US ).$245.2 million
[1] New student enrollments for a given period refers to the total number of orders placed by students that newly enroll in at least one course during that period,including those students that enroll and then terminate their enrollment with us, excluding orders of our low-price courses. (In |
Full Year 2022 Financial and Operational Snapshots
- Net revenues were
RMB2,323.1 million (US ), compared with$336.8 million RMB2,507.8 million in 2021. - Gross billings (non-GAAP) were
RMB1,496.7 million (US ), compared with$217.0 million RMB1,970.0 million in 2021. - Gross profit was
RMB1,975.0 million (US ), compared with$286.3 million RMB2,131.6 million in 2021. - Net income was
RMB643.0 million (US ), compared with net income of$93.2 million RMB212.4 million in 2021. - Net income margin, defined as net income as a percentage of net revenues, increased to
27.7% from8.5% in the year 2021. - New student enrollments were 534,280, compared with 434,228 in 2021.
"Thanks to unwavering execution of our balanced growth and profitability strategy, we concluded 2022 with sustained growth in both new student enrollments and our bottom line in the fourth quarter," said Mr.
"During the quarter, we sharpened our strategic focus on diversifying our course content, enhancing our course and service quality, and improving student acquisition efficiency, leading to
Ms. Selena Lu Lv, Chief Financial Officer of
Financial Results for the fourth quarter of 2022
Net Revenues
In the fourth quarter of 2022, net revenues decreased by
Cost of Revenues
Cost of revenues decreased by
Gross Profit
Gross profit increased by
Operating Expenses
In the fourth quarter of 2022, operating expenses were
Sales and marketing expenses decreased by
General and administrative expenses increased by
Product development expenses decreased by
Other Income/Other Expense
Other income was
Net Income
Net income for the fourth quarter of 2022 was
Basic and Diluted Net Income Per Share
Basic and diluted net income per share was
Cash, Cash Equivalents, Restricted Cash and Short-term Investments
As of
Deferred Revenue
As of
Capital Expenditures
Capital expenditures were incurred primarily in connection with information technology ("IT") infrastructure equipment and leasehold improvements necessary to support the Company's operations. Capital expenditures were
Financial Results for the Year 2022
Net Revenues
In 2022, net revenues decreased by
Cost of Revenues
Cost of revenues decreased by
Gross Profit
Gross profit decreased by
Operating Expenses
In the year of 2022, operating expenses were
Sales and marketing expenses decreased by
General and administrative expenses decreased by
Product development expenses decreased by
Other Income
Other income for 2022 was
Net Income
Net income for 2022 was
Basic and Diluted Net Income Per Share
Basic and diluted net income per share was
Capital Expenditures
Capital expenditures were incurred primarily in connection with IT infrastructure equipment and leasehold improvement necessary to support the Company's operations. Capital expenditures were
Outlook
For the first quarter of 2023,
Exchange Rate
The Company's business is primarily conducted in
Conference Call and Webcast
The dial-in details for the live conference call are:
International: | +1-412-902-4272 |
US toll free: | +1-888-346-8982 |
Mainland | 400-120-1203 |
800-905-945 | |
+852-3018-4992 |
Please dial in 10 minutes before the call is scheduled to begin. When prompted, ask to be connected to the call for "
A live webcast and archive of the conference call will be available on the Investor Relations section of
A replay of the conference call will be available 1 hour after the end of the conference call until
International: | +1-412-317-0088 |
US toll free: | +1-877-344-7529 |
Replay access code: | 3501228 |
About
About Non-GAAP Financial Measures
We use gross billings, EBITDA, non-GAAP operating cost and expense, non-GAAP loss/income from operations and Non-GAAP net loss/income per share, each a non-GAAP financial measure, in evaluating our operating results and for financial and operational decision-making purposes.
We define gross billings for a specific period as the total amount of cash received for the sale of course packages, net of the total amount of refunds paid in such period. Our management uses gross billings as a performance measurement because we generally bill our students for the entire course tuition at the time of sale of our course packages and recognize revenue proportionally over a period. EBITDA is defined as net loss/income excluding depreciation and amortization, interest expense, interest income, and income tax expenses/benefit. We believe that gross billings and EBITDA provide valuable insight into the sales of our course packages and the performance of our business.
These non-GAAP financial measures should not be considered in isolation from, or as a substitute for, their most directly comparable financial measure prepared in accordance with GAAP. A reconciliation of the historical non-GAAP financial measures to their respective most directly comparable GAAP measure has been provided in the tables included below. Investors are encouraged to review the reconciliation of the historical non-GAAP financial measures to their respective most directly comparable GAAP financial measures. As gross billings, EBITDA, operating cost and expenses excluding share-based compensation expenses, general and administrative expenses excluding share-based compensation expenses, sales and marketing expenses excluding share-based compensation expenses, product development expenses excluding share-based compensation expenses, non-GAAP net loss/income exclude share-based compensation expenses, and basic and diluted net loss/income per share excluding share-based compensation expenses have material limitations as an analytical metric and may not be calculated in the same manner by all companies, it may not be comparable to other similarly titled measures used by other companies. In light of the foregoing limitations, you should not consider gross billings and EBITDA as a substitute for, or superior to, their respective most directly comparable financial measures prepared in accordance with GAAP. We encourage investors and others to review our financial information in its entirety and not rely on a single financial measure.
Safe Harbor Statement
This press release contains forward-looking statements made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the
For investor and media enquiries, please contact:
Investor Relations
Email: sl-ir@sunlands.com
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||
(Amounts in thousands, except for share and per share data, or otherwise noted) | ||||||
As of | As of | |||||
2021 | 2022 | |||||
RMB | RMB | US$ | ||||
ASSETS | ||||||
Current assets | ||||||
Cash and cash equivalents | 626,715 | 753,642 | 109,268 | |||
Restricted cash | 50,008 | 3,762 | 545 | |||
Short-term investments | 184,159 | 70,542 | 10,228 | |||
Prepaid expenses and other current assets | 176,349 | 98,272 | 14,248 | |||
Deferred costs, current | 89,353 | 42,886 | 6,218 | |||
Total current assets | 1,126,584 | 969,104 | 140,507 | |||
Non-current assets | ||||||
Property and equipment, net | 857,648 | 813,783 | 117,987 | |||
Intangible assets, net | 2,761 | 1,509 | 219 | |||
Right-of-use assets | 362,335 | 274,643 | 39,819 | |||
Deferred costs, non-current | 109,020 | 78,839 | 11,431 | |||
Long-term investments | 54,844 | 73,513 | 10,658 | |||
Deferred tax assets | 39,265 | 26,799 | 3,885 | |||
Other non-current assets | 40,163 | 37,880 | 5,492 | |||
Total non-current assets | 1,466,036 | 1,306,966 | 189,491 | |||
TOTAL ASSETS | 2,592,620 | 2,276,070 | 329,998 | |||
LIABILITIES AND SHAREHOLDERS' DEFICIT | ||||||
LIABILITIES | ||||||
Current liabilities | ||||||
Accrued expenses and other current liabilities (including accrued expenses | ||||||
and other current liabilities of the consolidated VIEs without recourse to | ||||||
Sunlands Technology Group of | ||||||
| 586,043 | 436,339 | 63,263 | |||
Deferred revenue, current (including deferred revenue, current of the consolidated VIEs | ||||||
without recourse to Sunlands Technology Group of | ||||||
| 1,266,948 | 986,086 | 142,969 | |||
Lease liabilities, current portion (including lease liabilities, current portion of the | ||||||
consolidated VIEs without recourse to Sunlands Technology Group of | ||||||
and | 14,310 | 17,065 | 2,474 | |||
Long-term debt, current portion (including long-term debt, current portion of the | ||||||
consolidated VIEs without recourse to | ||||||
as of December 31, 2021 and 2022, respectively) | 38,654 | 38,654 | 5,604 | |||
Total current liabilities | 1,905,955 | 1,478,144 | 214,310 |
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS-continued | ||||||
(Amounts in thousands, except for share and per share data, or otherwise noted) | ||||||
As of | As of | |||||
2021 | 2022 | |||||
RMB | RMB | US$ | ||||
Non-current liabilities | ||||||
Deferred revenue, non-current (including deferred revenue, non-current | ||||||
of the consolidated VIEs without recourse to | ||||||
respectively) | 1,081,231 | 704,860 | 102,195 | |||
Lease liabilities, non-current portion (including lease liabilities, non-current portion | ||||||
of the consolidated VIEs without recourse to | ||||||
respectively) | 404,133 | 316,844 | 45,938 | |||
Deferred tax liabilities (including deferred tax liabilities of the consolidated | ||||||
VIEs without recourse to Sunlands Technology Group of | ||||||
as of | 21,782 | 5,984 | 868 | |||
Other non-current liabilities (including other non-current liabilities of the consolidated | ||||||
VIEs without recourse to Sunlands Technology Group of | ||||||
as of | 11,698 | 6,770 | 982 | |||
Long-term debt, non-current portion(including long-term debt, non-current portion of the | ||||||
consolidated VIEs without recourse to | ||||||
as of | 181,973 | 143,319 | 20,779 | |||
Total non-current liabilities | 1,700,817 | 1,177,777 | 170,762 | |||
TOTAL LIABILITIES | 3,606,772 | 2,655,921 | 385,072 | |||
SHAREHOLDERS' DEFICIT | ||||||
Class A ordinary shares (par value of | ||||||
authorized; 2,085,939 and 2,982,516 shares issued as of | ||||||
and | ||||||
outstanding as of | 1 | 1 | - | |||
Class B ordinary shares (par value of | ||||||
authorized; 826,389 and 826,389 shares issued and outstanding | ||||||
as of | - | - | - | |||
Class C ordinary shares (par value of | ||||||
authorized; 4,002,930 and 3,481,353 shares issued and outstanding | ||||||
as of | 1 | 1 | - | |||
| - | - | - | |||
Accumulated deficit | (3,456,073) | (2,812,114) | (407,718) | |||
Additional paid-in capital | 2,364,313 | 2,309,740 | 334,881 | |||
Accumulated other comprehensive income | 82,532 | 127,885 | 18,541 | |||
(1,009,226) | (374,487) | (54,296) | ||||
Non-controlling interest | (4,926) | (5,364) | (778) | |||
TOTAL SHAREHOLDERS' DEFICIT | (1,014,152) | (379,851) | (55,074) | |||
TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT | 2,592,620 | 2,276,070 | 329,998 |
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||
(Amounts in thousands, except for share and per share data, or otherwise noted) | ||||||
For the Three Months Ended | ||||||
2021 | 2022 | |||||
RMB | RMB | US$ | ||||
Net revenues | 588,883 | 578,588 | 83,887 | |||
Cost of revenues | (89,378) | (75,291) | (10,916) | |||
Gross profit | 499,505 | 503,297 | 72,971 | |||
Operating expenses | ||||||
Sales and marketing expenses | (339,368) | (272,477) | (39,505) | |||
Product development expenses | (10,656) | (7,369) | (1,068) | |||
General and administrative expenses | (50,499) | (56,129) | (8,138) | |||
Total operating expenses | (400,523) | (335,975) | (48,711) | |||
Income from operations | 98,982 | 167,322 | 24,260 | |||
Interest income | 3,018 | 7,040 | 1,021 | |||
Interest expense | (2,900) | (2,295) | (333) | |||
Other (expense)/income, net | (3,145) | 4,860 | 705 | |||
Impairment loss on long-term investments | (5,000) | - | - | |||
Gain/(loss) on disposal of subsidiaries | 43,967 | (319) | (46) | |||
Income before income tax benefit/(expense) | ||||||
and (loss)/income from equity method investments | 134,922 | 176,608 | 25,607 | |||
Income tax benefit/(expense) | 20,581 | (3,424) | (496) | |||
(Loss)/income from equity method investments | (4,731) | 7,770 | 1,127 | |||
Net income | 150,772 | 180,954 | 26,238 | |||
Less: Net (loss)/income attributable to non-controlling interest | (3,104) | 330 | 48 | |||
Net income attributable to | 153,876 | 180,624 | 26,190 | |||
Net income per share attributable to ordinary shareholders of | ||||||
Sunlands Technology Group: | ||||||
Basic and diluted | 22.89 | 26.03 | 3.77 | |||
Weighted average shares used in calculating net income | ||||||
per ordinary share: | ||||||
Basic and diluted | 6,722,670 | 6,939,213 | 6,939,213 |
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | ||||||
(Amounts in thousands) | ||||||
For the Three Months Ended | ||||||
2021 | 2022 | |||||
RMB | RMB | US$ | ||||
Net income | 150,772 | 180,954 | 26,238 | |||
Other comprehensive loss, net of tax effect of nil: | ||||||
Change in cumulative foreign currency translation adjustments | (6,117) | (15,938) | (2,311) | |||
Total comprehensive income | 144,655 | 165,016 | 23,927 | |||
Less: comprehensive (loss)/income attributable to non-controlling | ||||||
interest | (3,104) | 330 | 48 | |||
Comprehensive income attributable to | ||||||
Group | 147,759 | 164,686 | 23,879 |
RECONCILIATION OF GAAP AND NON-GAAP RESULTS | ||||
(Amounts in thousands) | ||||
For the Three Months Ended | ||||
2021 | 2022 | |||
RMB | RMB | |||
Net revenues | 588,883 | 578,588 | ||
Less: other revenues | (21,236) | (39,344) | ||
Add: tax and surcharges | 58,093 | 10,823 | ||
Add: ending deferred revenue | 2,348,179 | 1,690,946 | ||
Add: deferred revenue in connection with disposal of subsidiaries | 29,572 | 259 | ||
Add: ending refund liability | 243,236 | 133,066 | ||
Less: beginning deferred revenue | (2,540,886) | (1,798,558) | ||
Less: beginning refund liability | (222,266) | (204,961) | ||
Gross billings (non-GAAP) | 483,575 | 370,819 | ||
Net income | 150,772 | 180,954 | ||
Add: income tax (benefit)/expense | (20,581) | 3,424 | ||
depreciation and amortization | 9,651 | 18,584 | ||
interest expense | 2,900 | 2,295 | ||
Less: interest income | (3,018) | (7,040) | ||
EBITDA (non-GAAP) | 139,724 | 198,217 |
RECONCILIATION OF GAAP AND NON-GAAP RESULTS | ||||
(Amounts in thousands, except for share and per share data, or otherwise noted) | ||||
For the Three Months Ended | ||||
2021 | 2022 | |||
RMB | RMB | |||
Cost of revenues | (89,378) | (75,291) | ||
Less: Share-based compensation expenses in cost of revenues | (56) | - | ||
Non-GAAP cost of revenues | (89,322) | (75,291) | ||
Sales and marketing expenses | (339,368) | (272,477) | ||
Less: Share-based compensation expenses in sales and marketing expenses | (58) | - | ||
Non-GAAP sales and marketing expenses | (339,310) | (272,477) | ||
General and administrative expenses | (50,499) | (56,129) | ||
Less: Share-based compensation expenses in general and administrative expenses | (357) | - | ||
Non-GAAP general and administrative expenses | (50,142) | (56,129) | ||
Operating costs and expense | (489,901) | (411,266) | ||
Less: Share-based compensation expenses | (471) | - | ||
Non-GAAP operating costs and expense | (489,430) | (411,266) | ||
Income from operations | 98,982 | 167,322 | ||
Less: Share-based compensation expenses | (471) | - | ||
Non-GAAP income from operations | 99,453 | 167,322 | ||
Net income attributable to | 153,876 | 180,624 | ||
Less: Share-based compensation expenses | (471) | - | ||
Non-GAAP net income attributable to | 154,347 | 180,624 | ||
Net income per share attributable to ordinary shareholders of | ||||
Sunlands Technology Group: | ||||
Basic and diluted | 22.89 | 26.03 | ||
Non-GAAP net income per share attributable to ordinary shareholders of | ||||
Sunlands Technology Group: | ||||
Basic and diluted | 22.96 | 26.03 | ||
Weighted average shares used in calculating net income | ||||
per ordinary share: | ||||
Basic and diluted | 6,722,670 | 6,939,213 | ||
Weighted average shares used in calculating Non-GAAP net income | ||||
per ordinary share: | ||||
Basic and diluted | 6,722,670 | 6,939,213 |
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||
(Amounts in thousands, except for share and per share data, or otherwise noted) | ||||||
For the Years Ended | ||||||
2021 | 2022 | |||||
RMB | RMB | US$ | ||||
Net revenues | 2,507,817 | 2,323,101 | 336,818 | |||
Cost of revenues | (376,189) | (348,150) | (50,477) | |||
Gross profit | 2,131,628 | 1,974,951 | 286,341 | |||
Operating expenses | ||||||
Sales and marketing expenses | (1,748,436) | (1,129,508) | (163,763) | |||
Product development expenses | (61,325) | (42,834) | (6,210) | |||
General and administrative expenses | (207,602) | (185,667) | (26,919) | |||
Total operating expenses | (2,017,363) | (1,358,009) | (196,892) | |||
Income from operations | 114,265 | 616,942 | 89,449 | |||
Interest income | 16,175 | 16,248 | 2,356 | |||
Interest expense | (10,929) | (10,059) | (1,458) | |||
Other income, net | 39,156 | 24,527 | 3,556 | |||
Impairment loss on long-term investments | (5,000) | (500) | (72) | |||
Gain on disposal of subsidiaries | 43,967 | 1,390 | 202 | |||
Income before income tax benefit | 197,634 | 648,548 | 94,033 | |||
Income tax benefit/(expense) | 19,618 | (11,992) | (1,739) | |||
(Loss)/gain from equity method investments | (4,886) | 6,453 | 936 | |||
Net income | 212,366 | 643,009 | 93,230 | |||
Less: Net loss attributable to non-controlling interest | (6,690) | (950) | (138) | |||
Net income attributable to | 219,056 | 643,959 | 93,368 | |||
Net income per share attributable to ordinary shareholders of | ||||||
Sunlands Technology Group: | ||||||
Basic and diluted | 32.56 | 94.14 | 13.65 | |||
Weighted average shares used in calculating net income | ||||||
per ordinary share: | ||||||
Basic and diluted | 6,727,552 | 6,840,079 | 6,840,079 | |||
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | ||||||
(Amounts in thousands) | ||||||
For the Years Ended | ||||||
2021 | 2022 | |||||
RMB | RMB | US$ | ||||
Net income | 212,366 | 643,009 | 93,230 | |||
Other comprehensive (loss)/income, net of tax effect of nil: | ||||||
Change in cumulative foreign currency translation adjustments | (13,958) | 45,353 | 6,576 | |||
Total comprehensive income | 198,408 | 688,362 | 99,806 | |||
Less: comprehensive loss attributable to non-controlling | ||||||
interest | (6,690) | (950) | (138) | |||
Comprehensive income attributable to | ||||||
Group | 205,098 | 689,312 | 99,944 |
RECONCILIATION OF GAAP AND NON-GAAP RESULTS | ||||
(Amounts in thousands) | ||||
For the Years Ended | ||||
2021 | 2022 | |||
RMB | RMB | |||
Net revenues | 2,507,817 | 2,323,101 | ||
Less: other revenues | (79,444) | (125,864) | ||
Add: tax and surcharges | 177,966 | 66,638 | ||
Add: ending deferred revenue | 2,348,179 | 1,690,946 | ||
Add: deferred revenue in connection with disposal of subsidiaries | 29,572 | 259 | ||
Add: ending refund liability | 243,236 | 133,066 | ||
Less: beginning deferred revenue | (3,024,443) | (2,348,179) | ||
Less: beginning refund liability | (232,859) | (243,236) | ||
Gross billings (non-GAAP) | 1,970,024 | 1,496,731 | ||
Net income | 212,366 | 643,009 | ||
Add: income tax (benefit)/expense | (19,618) | 11,992 | ||
depreciation and amortization | 37,916 | 46,684 | ||
interest expense | 10,929 | 10,059 | ||
Less: interest income | (16,175) | (16,248) | ||
EBITDA (non-GAAP) | 225,418 | 695,496 |
RECONCILIATION OF GAAP AND NON-GAAP RESULTS | ||||
(Amounts in thousands, except for share and per share data, or otherwise noted) | ||||
For the Years Ended | ||||
2021 | 2022 | |||
RMB | RMB | |||
Cost of revenues | (376,189) | (348,150) | ||
Less: Share-based compensation expenses in cost of revenues | (101) | (33) | ||
Non-GAAP cost of revenues | (376,088) | (348,117) | ||
Sales and marketing expenses | (1,748,436) | (1,129,508) | ||
Less: Share-based compensation expenses in sales and marketing expenses | 14 | (4,166) | ||
Non-GAAP sales and marketing expenses | (1,748,450) | (1,125,342) | ||
General and administrative expenses | (207,602) | (185,667) | ||
Less: Share-based compensation expenses in general and administrative expenses | (681) | (2,982) | ||
Non-GAAP general and administrative expenses | (206,921) | (182,685) | ||
Operating costs and expense | (2,393,552) | (1,706,159) | ||
Less: Share-based compensation expenses | (768) | (7,181) | ||
Non-GAAP operating costs and expense | (2,392,784) | (1,698,978) | ||
Income from operations | 114,265 | 616,942 | ||
Less: Share-based compensation expenses | (768) | (7,181) | ||
Non-GAAP income from operations | 115,033 | 624,123 | ||
Net income attributable to | 219,056 | 643,959 | ||
Less: Share-based compensation expenses | (768) | (7,181) | ||
Non-GAAP net income attributable to | 219,824 | 651,140 | ||
Net income per share attributable to ordinary shareholders of | ||||
Sunlands Technology Group: | ||||
Basic and diluted | 32.56 | 94.14 | ||
Non-GAAP net income per share attributable to ordinary shareholders of | ||||
Sunlands Technology Group: | ||||
Basic and diluted | 32.68 | 95.19 | ||
Weighted average shares used in calculating net income | ||||
per ordinary share: | ||||
Basic and diluted | 6,727,552 | 6,840,079 | ||
Weighted average shares used in calculating Non-GAAP net income | ||||
per ordinary share: | ||||
Basic and diluted | 6,727,552 | 6,840,079 |
View original content:https://www.prnewswire.com/news-releases/sunlands-technology-group-announces-unaudited-fourth-quarter-and-full-year-2022-financial-results-301780661.html
SOURCE
FAQ
What were Sunlands' Q4 2022 net revenues and how do they compare to Q4 2021?
How did Sunlands perform in terms of net income in Q4 2022?
What is the outlook for Sunlands' revenue in Q1 2023?
How many new students enrolled in Sunlands during Q4 2022?