Gaotu Techedu Income Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	5,850	4,554	2,961	2,498	6,562	7,125
Revenue Growth (YoY)	49.01%	53.79%	18.52%	-61.93%	-7.90%	236.89%
Cost of Revenue	1,901	1,455	790.21	701.05	2,398	1,763
Gross Profit	3,949	3,099	2,171	1,797	4,164	5,362
Selling, General & Admin	3,877	3,632	1,858	1,470	5,850	6,383
Research & Development	606.61	648.06	462.04	445.12	1,253	734.45
Operating Expenses	4,483	4,280	2,320	1,915	7,102	7,117
Operating Income	-534.39	-1,182	-149.01	-118.05	-2,938	-1,755
Interest & Investment Income	46.33	70.38	75.83	21.37	31.46	3.37
Earnings From Equity Investments	-	-	-9.17	-	-0.3	0.06
Other Non Operating Income (Expenses)	72.57	32.97	51.16	51.89	20.91	-2.73
EBT Excluding Unusual Items	-415.5	-1,078	-31.19	-44.8	-2,886	-1,754
Impairment of Goodwill	-	-	-	-	-43.3	-
Gain (Loss) on Sale of Investments	37.44	38.16	34.55	42.26	65.76	70.4
Gain (Loss) on Sale of Assets	-	-	-	-	-146.25	-
Asset Writedown	-	-	-	-	-52.54	-
Other Unusual Items	-	-	-	-	-	256.38
Pretax Income	-378.05	-1,040	3.36	-2.53	-3,063	-1,428
Income Tax Expense	-3.09	8.63	10.66	-15.71	40.95	-34.62
Net Income	-374.96	-1,049	-7.3	13.17	-3,103	-1,393
Net Income to Common	-374.96	-1,049	-7.3	13.17	-3,103	-1,393
Shares Outstanding (Basic)	248	257	261	258	256	240
Shares Outstanding (Diluted)	248	257	261	264	256	240
Shares Change (YoY)	-4.06%	-1.33%	-1.29%	3.04%	6.93%	14.52%
EPS (Basic)	-1.51	-4.08	-0.03	0.05	-12.11	-5.81
EPS (Diluted)	-1.52	-4.08	-0.03	0.05	-12.11	-5.81
Free Cash Flow	-	78.09	312.9	20.59	-4,458	244.89
Free Cash Flow Per Share	-	0.30	1.20	0.08	-17.40	1.02
Gross Margin	67.50%	68.05%	73.31%	71.94%	63.46%	75.26%
Operating Margin	-9.13%	-25.95%	-5.03%	-4.72%	-44.78%	-24.63%
Profit Margin	-6.41%	-23.04%	-0.25%	0.53%	-47.30%	-19.55%
Free Cash Flow Margin	-	1.71%	10.57%	0.82%	-67.94%	3.44%
EBITDA	-461.37	-1,117	-94.76	-47.3	-2,826	-1,698
EBITDA Margin	-7.89%	-24.53%	-3.20%	-1.89%	-43.06%	-23.83%
D&A For EBITDA	73.02	64.97	54.24	70.76	112.56	57.21
EBIT	-534.39	-1,182	-149.01	-118.05	-2,938	-1,755
EBIT Margin	-9.13%	-25.95%	-5.03%	-4.72%	-44.78%	-24.63%
Effective Tax Rate	-	-	317.27%	-	-	-

Source: S&P Global Market Intelligence. Standard template. Financial Sources.