Gaotu Techedu Income Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	6,147	4,554	2,961	2,498	6,562
Revenue Growth (YoY)	34.99%	53.79%	18.52%	-61.93%	-7.90%
Cost of Revenue	2,002	1,455	790.21	701.05	2,398
Gross Profit	4,145	3,099	2,171	1,797	4,164
Selling, General & Admin	4,021	3,632	1,858	1,470	5,850
Research & Development	626.95	648.06	462.04	445.12	1,253
Operating Expenses	4,648	4,280	2,320	1,915	7,102
Operating Income	-503.17	-1,182	-149.01	-118.05	-2,938
Interest & Investment Income	39.92	70.38	75.83	21.37	31.46
Earnings From Equity Investments	-	-	-9.17	-	-0.3
Other Non Operating Income (Expenses)	101.76	32.97	51.16	51.89	20.91
EBT Excluding Unusual Items	-361.48	-1,078	-31.19	-44.8	-2,886
Impairment of Goodwill	-	-	-	-	-43.3
Gain (Loss) on Sale of Investments	34.07	38.16	34.55	42.26	65.76
Gain (Loss) on Sale of Assets	-	-	-	-	-146.25
Asset Writedown	-	-	-	-	-52.54
Pretax Income	-327.42	-1,040	3.36	-2.53	-3,063
Income Tax Expense	-4.11	8.63	10.66	-15.71	40.95
Net Income	-323.31	-1,049	-7.3	13.17	-3,103
Net Income to Common	-323.31	-1,049	-7.3	13.17	-3,103
Shares Outstanding (Basic)	245	257	261	258	256
Shares Outstanding (Diluted)	245	257	261	264	256
Shares Change (YoY)	-4.84%	-1.33%	-1.29%	3.04%	6.93%
EPS (Basic)	-1.32	-4.08	-0.03	0.05	-12.11
EPS (Diluted)	-1.32	-4.08	-0.03	0.05	-12.11
Free Cash Flow	-	78.09	312.9	20.59	-4,458
Free Cash Flow Per Share	-	0.30	1.20	0.08	-17.40
Gross Margin	67.44%	68.05%	73.31%	71.94%	63.46%
Operating Margin	-8.19%	-25.95%	-5.03%	-4.72%	-44.78%
Profit Margin	-5.26%	-23.04%	-0.25%	0.53%	-47.30%
Free Cash Flow Margin	-	1.71%	10.57%	0.82%	-67.94%
EBITDA	-438.2	-1,117	-94.76	-47.3	-2,826
EBITDA Margin	-7.13%	-24.53%	-3.20%	-1.89%	-43.06%
D&A For EBITDA	64.97	64.97	54.24	70.76	112.56
EBIT	-503.17	-1,182	-149.01	-118.05	-2,938
EBIT Margin	-8.19%	-25.95%	-5.03%	-4.72%	-44.78%
Effective Tax Rate	-	-	317.27%	-	-

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