51Talk Online Education Group (COE)

COE Financials Overview

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

Revenue & Profits

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue Revenue Growth	108.54	95.6	50.69	27.11	15.05	0.79
Revenue Growth	82.45%	88.59%	86.98%	80.16%	1809.64%	-
Gross Profit Gross Profit Growth	79.61	70.66	39.53	20.79	11.85	0.66
Operating Income Operating Income Growth	-14.35	-14.43	-8.05	-13.66	-12.36	-4.59
Net Income Net Income Growth	-17.44	-16.8	-7.24	-15.03	-42.56	18.74
Earnings Per Share EPS Growth	-3.09	-3.00	-1.25	-2.64	-7.71	3.42
EPS Growth	-	-	-	-	-	-18.51%

Cash & Debt

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Investments Cash & Investments Growth	35.52	38.96	29.19	23.39	23.06	31.11
Total Debt Total Debt Growth	2.88	2.94	2.68	0.63	0.73	1.63
Net Cash (Debt) Net Cash Growth	32.64	36.02	26.51	22.76	22.32	29.48
Net Cash Growth	19.47%	35.90%	16.46%	1.94%	-24.27%	-84.19%
Net Cash Per Share Net Cash Per Share Growth	5.48	6.09	4.58	4.00	3.99	5.38

Cash Flow & CapEx

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Operating Cash Flow Operating Cash Flow Growth	-	11.81	5.83	0.56	-45.7	-105.03
Capital Expenditures CapEx Growth	-	-2.29	-0.31	-0.29	-0.01	-
Free Cash Flow Free Cash Flow Growth	-	9.52	5.52	0.27	-45.71	-105.03
Free Cash Flow Growth	-	72.34%	1930.88%	-	-	-

Margins

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Gross Margin	73.35%	73.91%	77.98%	76.68%	78.77%	83.50%
Operating Margin	-13.22%	-15.09%	-15.87%	-50.40%	-82.12%	-582.74%
Pretax Margin	-14.66%	-16.33%	-13.90%	-55.01%	-84.95%	-519.16%
Profit Margin	-16.07%	-17.58%	-14.27%	-55.45%	-282.80%	2377.92%
FCF Margin	-	9.96%	10.90%	1.00%	-303.74%	-13328.55%

Valuation

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 2, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
PE Ratio	-	-	-	-	-	1.39
Forward PE	-	0.37	0.37	0.37	0.37	0.34
P/FCF Ratio	9.57	19.65	21.35	167.17	-	-
PS Ratio	0.84	1.96	2.33	1.68	2.33	33.02

Data Source: S&P Global Market Intelligence Last updated: Jun 12, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Sep 2, 2026

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