China Online Education Group
NYSE:COE
Income Statement
Earnings Waterfall
China Online Education Group
Revenue
|
24.7m
USD
|
Cost of Revenue
|
-5.5m
USD
|
Gross Profit
|
19.2m
USD
|
Operating Expenses
|
-30.7m
USD
|
Operating Income
|
-11.5m
USD
|
Other Expenses
|
-1.5m
USD
|
Net Income
|
-13m
USD
|
Income Statement
China Online Education Group
Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | |||||||||||||||||||||||||||||||||
Revenue |
13
N/A
|
25
+86%
|
26
+5%
|
36
+37%
|
53
+48%
|
63
+20%
|
75
+19%
|
88
+17%
|
105
+20%
|
126
+19%
|
144
+15%
|
160
+11%
|
169
+6%
|
173
+2%
|
179
+4%
|
187
+4%
|
201
+7%
|
214
+7%
|
236
+10%
|
254
+8%
|
273
+8%
|
298
+9%
|
321
+8%
|
341
+6%
|
338
-1%
|
102
-70%
|
16
-84%
|
20
+29%
|
15
-27%
|
19
+25%
|
21
+15%
|
25
+15%
|
|
Gross Profit | |||||||||||||||||||||||||||||||||
Cost of Revenue |
(5)
|
(10)
|
(10)
|
(13)
|
(19)
|
(22)
|
(26)
|
(31)
|
(38)
|
(47)
|
(53)
|
(58)
|
(61)
|
(62)
|
(63)
|
(64)
|
(64)
|
(64)
|
(69)
|
(73)
|
(78)
|
(84)
|
(88)
|
(92)
|
(87)
|
(27)
|
(3)
|
(4)
|
(3)
|
(4)
|
(5)
|
(6)
|
|
Gross Profit |
8
N/A
|
15
+90%
|
16
+8%
|
23
+40%
|
34
+50%
|
41
+20%
|
49
+20%
|
57
+16%
|
67
+17%
|
79
+18%
|
91
+15%
|
102
+13%
|
109
+6%
|
111
+2%
|
116
+5%
|
123
+6%
|
136
+11%
|
150
+10%
|
167
+11%
|
180
+8%
|
195
+8%
|
214
+9%
|
233
+9%
|
248
+7%
|
252
+1%
|
75
-70%
|
13
-83%
|
16
+29%
|
12
-26%
|
15
+24%
|
17
+14%
|
19
+14%
|
|
Operating Income | |||||||||||||||||||||||||||||||||
Operating Expenses |
(36)
|
(66)
|
(63)
|
(79)
|
(106)
|
(118)
|
(131)
|
(138)
|
(150)
|
(164)
|
(172)
|
(176)
|
(174)
|
(172)
|
(170)
|
(170)
|
(172)
|
(166)
|
(169)
|
(174)
|
(186)
|
(203)
|
(226)
|
(250)
|
(241)
|
(83)
|
(20)
|
(26)
|
(24)
|
(26)
|
(27)
|
(31)
|
|
Selling, General & Administrative |
(32)
|
(58)
|
(53)
|
(65)
|
(87)
|
(95)
|
(105)
|
(110)
|
(120)
|
(131)
|
(138)
|
(142)
|
(143)
|
(144)
|
(143)
|
(144)
|
(147)
|
(143)
|
(148)
|
(154)
|
(166)
|
(181)
|
(201)
|
(221)
|
(215)
|
(73)
|
(17)
|
(23)
|
(21)
|
(24)
|
(25)
|
(28)
|
|
Research & Development |
(4)
|
(9)
|
(10)
|
(14)
|
(20)
|
(23)
|
(26)
|
(28)
|
(31)
|
(33)
|
(34)
|
(34)
|
(31)
|
(28)
|
(26)
|
(25)
|
(24)
|
(23)
|
(22)
|
(21)
|
(22)
|
(24)
|
(27)
|
(32)
|
(28)
|
(12)
|
(2)
|
(3)
|
(3)
|
(2)
|
(2)
|
(3)
|
|
Other Operating Expenses |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
1
|
1
|
2
|
2
|
2
|
3
|
2
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Operating Income |
(28)
N/A
|
(51)
-86%
|
(46)
+9%
|
(56)
-21%
|
(72)
-29%
|
(77)
-7%
|
(82)
-6%
|
(81)
+1%
|
(83)
-3%
|
(85)
-1%
|
(82)
+3%
|
(73)
+10%
|
(66)
+11%
|
(61)
+7%
|
(54)
+11%
|
(47)
+13%
|
(35)
+25%
|
(16)
+56%
|
(2)
+87%
|
6
N/A
|
9
+49%
|
10
+17%
|
6
-40%
|
(2)
N/A
|
11
N/A
|
(8)
N/A
|
(7)
+14%
|
(10)
-36%
|
(12)
-27%
|
(11)
+8%
|
(10)
+10%
|
(12)
-12%
|
|
Pre-Tax Income | |||||||||||||||||||||||||||||||||
Interest Income Expense |
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(1)
|
(1)
|
(1)
|
(1)
|
(0)
|
(0)
|
(0)
|
(0)
|
0
|
1
|
2
|
3
|
4
|
6
|
6
|
7
|
4
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Non-Reccuring Items |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(1)
|
0
|
0
|
0
|
0
|
1
|
2
|
4
|
5
|
3
|
2
|
(3)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Total Other Income |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(1)
|
0
|
0
|
0
|
(0)
|
(1)
|
(1)
|
(1)
|
(0)
|
(0)
|
|
Pre-Tax Income |
(28)
N/A
|
(51)
-86%
|
(46)
+9%
|
(56)
-21%
|
(73)
-29%
|
(77)
-7%
|
(82)
-6%
|
(81)
+1%
|
(84)
-3%
|
(85)
-2%
|
(83)
+3%
|
(74)
+11%
|
(66)
+11%
|
(62)
+5%
|
(54)
+13%
|
(48)
+12%
|
(35)
+26%
|
(14)
+59%
|
2
N/A
|
11
+512%
|
17
+47%
|
21
+23%
|
15
-26%
|
7
-56%
|
12
+72%
|
(6)
N/A
|
(7)
-13%
|
(10)
-38%
|
(13)
-28%
|
(12)
+7%
|
(10)
+14%
|
(11)
-11%
|
|
Net Income | |||||||||||||||||||||||||||||||||
Tax Provision |
(1)
|
(1)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
1
|
(0)
|
(0)
|
7
|
0
|
1
|
1
|
(0)
|
(0)
|
0
|
0
|
|
Income from Continuing Operations |
(29)
|
(52)
|
(47)
|
(56)
|
(73)
|
(78)
|
(83)
|
(82)
|
(84)
|
(86)
|
(83)
|
(75)
|
(67)
|
(63)
|
(55)
|
(48)
|
(36)
|
(15)
|
1
|
11
|
16
|
21
|
15
|
6
|
19
|
(6)
|
(6)
|
(9)
|
(13)
|
(12)
|
(10)
|
(11)
|
|
Net Income (Common) |
(35)
N/A
|
(64)
-84%
|
(62)
+4%
|
(75)
-22%
|
(91)
-21%
|
(91)
0%
|
(89)
+3%
|
(82)
+8%
|
(84)
-3%
|
(86)
-2%
|
(83)
+3%
|
(75)
+10%
|
(67)
+11%
|
(63)
+6%
|
(55)
+13%
|
(48)
+12%
|
(36)
+26%
|
(15)
+58%
|
1
N/A
|
11
+864%
|
16
+51%
|
21
+33%
|
15
-28%
|
6
-58%
|
19
+190%
|
(24)
N/A
|
(36)
-52%
|
(39)
-8%
|
(43)
-9%
|
(26)
+40%
|
(12)
+53%
|
(13)
-9%
|
|
EPS (Diluted) |
-0.26
N/A
|
-0.87
-235%
|
-0.83
+5%
|
-2.48
-199%
|
-1.2
+52%
|
-1.83
-53%
|
-1.17
+36%
|
-1.09
+7%
|
-1.12
-3%
|
-1.14
-2%
|
-1.1
+4%
|
-0.98
+11%
|
-0.87
+11%
|
-0.83
+5%
|
-0.71
+14%
|
-0.62
+13%
|
-0.46
+26%
|
-0.2
+57%
|
0.01
N/A
|
0.12
+1 100%
|
0.18
+50%
|
0.06
-67%
|
0.17
+183%
|
0.07
-59%
|
0.22
+214%
|
-0.07
N/A
|
-0.1
-43%
|
-0.11
-10%
|
-0.12
-9%
|
-0.07
+42%
|
-0.04
+43%
|
-0.04
N/A
|