Youdao Income Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Year Ending	TTM	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	2018 - 2017
Revenue	5,618	5,389	5,013	4,016	2,527	1,207	Upgrade
Revenue Growth (YoY)	12.90%	7.50%	24.84%	58.93%	109.27%	65.04%	Upgrade
Cost of Revenue	2,771	2,622	2,427	2,027	1,419	872.37	Upgrade
Gross Profit	2,847	2,767	2,586	1,989	1,107	335.05	Upgrade
Selling, General & Admin	2,380	2,490	2,557	2,325	1,587	524.99	Upgrade
Research & Development	707.26	743.36	803.79	607.37	372.18	269.9	Upgrade
Operating Expenses	3,088	3,234	3,361	2,932	1,959	794.89	Upgrade
Operating Income	-240.61	-466.33	-774.68	-943.25	-851.46	-459.84	Upgrade
Interest Expense / Income	74.04	69.47	45.61	31.64	31.22	30.23	Upgrade
Other Expense / Income	11.64	3.05	-107.1	14.12	867.19	109	Upgrade
Pretax Income	-326.29	-538.85	-713.19	-989.01	-1,749.86	-599.07	Upgrade
Income Tax	6.86	11.09	13.84	6.65	2.93	2.43	Upgrade
Net Income	-333.15	-549.94	-727.03	-995.66	-1,752.79	-601.5	Upgrade
Preferred Dividends	0	0	0	0	0	71.79	Upgrade
Net Income Common	-333.15	-549.94	-727.03	-995.66	-1,752.79	-637.4	Upgrade
Shares Outstanding (Basic)	118	121	124	122	113	95	Upgrade
Shares Outstanding (Diluted)	119	121	124	122	113	95	Upgrade
Shares Change	-2.73%	-1.79%	1.60%	7.78%	18.25%	11.83%	Upgrade
EPS (Basic)	-2.72	-4.53	-5.88	-8.18	-15.53	-6.68	Upgrade
EPS (Diluted)	-2.73	-4.53	-5.88	-8.18	-15.53	-6.68	Upgrade
Free Cash Flow	-	-454.64	-670.36	-1,407.77	-351.41	-388.3	Upgrade
Free Cash Flow Per Share	-	-3.75	-5.42	-11.57	-3.11	-4.07	Upgrade
Gross Margin	50.68%	51.35%	51.59%	49.53%	43.83%	27.75%	Upgrade
Operating Margin	-4.28%	-8.65%	-15.45%	-23.49%	-33.70%	-38.08%	Upgrade
Profit Margin	-5.93%	-10.20%	-14.50%	-24.79%	-69.37%	-52.79%	Upgrade
Free Cash Flow Margin	-	-8.44%	-13.37%	-35.06%	-13.91%	-32.16%	Upgrade
EBITDA	-	-439.73	-625.37	-927.27	-1,703.18	-558.31	Upgrade
EBITDA Margin	-	-8.16%	-12.47%	-23.09%	-67.40%	-46.24%	Upgrade
Depreciation & Amortization	-	29.64	42.21	30.1	15.46	10.53	Upgrade
EBIT	-252.25	-469.37	-667.58	-957.36	-1,718.65	-568.84	Upgrade
EBIT Margin	-4.49%	-8.71%	-13.32%	-23.84%	-68.02%	-47.11%	Upgrade

Source: Financials are provided by Nasdaq Data Link and sourced from audited reports submitted to the Securities and Exchange Commission (SEC).