51Talk Online Education Group (COE)

COE Balance Sheet

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

Assets

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
Cash & Equivalents	35.43	38.87	27.76	21.3	18.19	24.61
Short-Term Investments	0.09	0.09	1.43	2.09	4.87	6.5
Cash & Short-Term Investments	35.52	38.96	29.19	23.39	23.06	31.11
Cash Growth	20.38%	33.49%	24.79%	1.44%	-25.88%	-84.54%
Receivables	-	1.12	0.71	0.53	-	-
Prepaid Expenses	24.27	2.8	0.89	1.28	0.74	0.59
Other Current Assets	-	17.52	9.31	4.59	2.77	119.55
Total Current Assets	59.79	60.4	40.09	29.78	26.57	151.25
Property, Plant & Equipment	4.98	5.21	3.25	0.86	0.79	1.72
Long-Term Investments	-	-	-	-	-	11.12
Other Intangible Assets	0.07	0.07	0.08	0.09	0.1	0.12
Long-Term Deferred Tax Assets	0.08	0.08	0.06	0.07	-	0.04
Other Long-Term Assets	0.41	0.34	0.46	0.35	0.17	22.83
Total Assets	65.33	66.09	43.94	31.16	27.63	187.07

Liabilities

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
Accrued Expenses	11.8	11.96	6.23	5.99	4.25	2.93
Current Portion of Leases	1.7	1.76	1.24	0.59	0.43	0.82
Current Income Taxes Payable	1.28	1.23	1.1	1.06	0.19	0.1
Current Unearned Revenue	78.93	76.57	45.06	27.21	15.17	2.87
Other Current Liabilities	3.1	3.84	3.26	4.28	0.49	290.33
Total Current Liabilities	96.8	95.36	56.9	39.13	20.51	297.04
Long-Term Leases	1.18	1.18	1.44	0.04	0.31	0.82
Pension & Post-Retirement Benefits	0.37	0.36	0.31	0.18	0.16	0.2
Long-Term Deferred Tax Liabilities	0.46	0.45	-	-	0.08	-
Other Long-Term Liabilities	-	-	-	-	-	2.43
Total Liabilities	98.81	97.35	58.65	39.35	21.06	300.5

Shareholders' Equity

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
Common Stock	-33.58	0.04	0.04	0.03	0.03	0.03
Additional Paid-In Capital	-	340.95	339.25	338.32	337.41	187.84
Retained Earnings	-	-370.4	-353.6	-346.36	-331.17	-288.61
Treasury Stock	-	-	-	-	-	-6.64
Comprehensive Income & Other	-	-1.94	-0.69	-0.33	0.3	-6.05
Total Common Equity	-33.58	-31.36	-15	-8.34	6.58	-113.43
Minority Interest	0.1	0.1	0.29	0.15	-	-
Shareholders' Equity	-33.48	-31.25	-14.71	-8.19	6.58	-113.43
Total Liabilities & Equity	65.33	66.09	43.94	31.16	27.63	187.07

Additional Metrics

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
Total Debt	2.88	2.94	2.68	0.63	0.73	1.63
Net Cash (Debt)	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	5.48	6.09	4.58	4.00	3.99	5.38
Filing Date Shares Outstanding	6	5.98	5.86	5.75	5.66	5.57
Total Common Shares Outstanding	6	5.98	5.85	5.72	5.63	5.56
Working Capital	-37.01	-34.96	-16.81	-9.35	6.06	-145.79
Book Value Per Share	-5.60	-5.24	-2.57	-1.46	1.17	-20.40
Tangible Book Value	-33.64	-31.43	-15.08	-8.43	6.47	-113.54
Tangible Book Value Per Share	-5.61	-5.25	-2.58	-1.47	1.15	-20.42
Machinery	-	2.43	1.64	1.39	1.24	2.59
Leasehold Improvements	-	1.33	0.07	0.02	0	1.85

SEC Filings: 10-K · 10-Q

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:

Aug 23, 2026

Data Sources Report a data error