Youdao Inc
NYSE:DAO
Income Statement
Earnings Waterfall
Youdao Inc
Revenue
|
5.4B
CNY
|
Cost of Revenue
|
-2.6B
CNY
|
Gross Profit
|
2.8B
CNY
|
Operating Expenses
|
-3.2B
CNY
|
Operating Income
|
-466.3m
CNY
|
Other Expenses
|
-83.6m
CNY
|
Net Income
|
-549.9m
CNY
|
Income Statement
Youdao Inc
Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||||||||||||||
Revenue |
732
N/A
|
823
+12%
|
953
+16%
|
1 125
+18%
|
1 207
+7%
|
1 523
+26%
|
1 824
+20%
|
2 374
+30%
|
2 527
+6%
|
2 933
+16%
|
3 290
+12%
|
3 781
+15%
|
4 016
+6%
|
4 268
+6%
|
4 245
-1%
|
4 260
+0%
|
5 013
+18%
|
4 976
-1%
|
5 226
+5%
|
5 363
+3%
|
5 389
+0%
|
|
Gross Profit | ||||||||||||||||||||||
Cost of Revenue |
(515)
|
(591)
|
(685)
|
(808)
|
(872)
|
(1 005)
|
(1 130)
|
(1 358)
|
(1 419)
|
(1 565)
|
(1 703)
|
(1 820)
|
(2 027)
|
(2 134)
|
(2 201)
|
(2 241)
|
(2 427)
|
(2 430)
|
(2 523)
|
(2 559)
|
(2 622)
|
|
Gross Profit |
217
N/A
|
232
+7%
|
268
+16%
|
317
+18%
|
335
+6%
|
518
+55%
|
693
+34%
|
1 016
+47%
|
1 107
+9%
|
1 368
+24%
|
1 587
+16%
|
1 961
+24%
|
1 989
+1%
|
2 134
+7%
|
2 044
-4%
|
2 018
-1%
|
2 586
+28%
|
2 547
-2%
|
2 704
+6%
|
2 803
+4%
|
2 767
-1%
|
|
Operating Income | ||||||||||||||||||||||
Operating Expenses |
(436)
|
(478)
|
(566)
|
(764)
|
(795)
|
(1 075)
|
(1 450)
|
(2 432)
|
(1 959)
|
(2 258)
|
(2 448)
|
(2 058)
|
(2 875)
|
(2 988)
|
(3 098)
|
(3 162)
|
(3 361)
|
(3 392)
|
(3 383)
|
(3 321)
|
(3 234)
|
|
Selling, General & Administrative |
(252)
|
(281)
|
(351)
|
(527)
|
(525)
|
(775)
|
(1 116)
|
(2 051)
|
(1 587)
|
(1 842)
|
(1 978)
|
(1 515)
|
(2 268)
|
(2 249)
|
(2 296)
|
(2 341)
|
(2 557)
|
(2 608)
|
(2 603)
|
(2 567)
|
(2 490)
|
|
Research & Development |
(184)
|
(197)
|
(215)
|
(237)
|
(270)
|
(299)
|
(334)
|
(380)
|
(372)
|
(416)
|
(470)
|
(543)
|
(607)
|
(683)
|
(745)
|
(765)
|
(804)
|
(784)
|
(780)
|
(755)
|
(743)
|
|
Other Operating Expenses |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(57)
|
(57)
|
(57)
|
0
|
0
|
0
|
0
|
0
|
|
Operating Income |
(219)
N/A
|
(246)
-12%
|
(298)
-21%
|
(447)
-50%
|
(460)
-3%
|
(557)
-21%
|
(757)
-36%
|
(1 416)
-87%
|
(852)
+40%
|
(890)
-4%
|
(862)
+3%
|
(97)
+89%
|
(887)
-815%
|
(854)
+4%
|
(1 054)
-23%
|
(1 144)
-9%
|
(775)
+32%
|
(845)
-9%
|
(679)
+20%
|
(518)
+24%
|
(466)
+10%
|
|
Pre-Tax Income | ||||||||||||||||||||||
Interest Income Expense |
16
|
(22)
|
(23)
|
(22)
|
(14)
|
(12)
|
(6)
|
(3)
|
(20)
|
(10)
|
(11)
|
(12)
|
11
|
(15)
|
(20)
|
(27)
|
(26)
|
(40)
|
(48)
|
(56)
|
(61)
|
|
Non-Reccuring Items |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
52
|
0
|
0
|
0
|
(72)
|
0
|
0
|
0
|
(12)
|
0
|
0
|
0
|
0
|
|
Total Other Income |
6
|
38
|
35
|
17
|
16
|
35
|
46
|
55
|
24
|
53
|
51
|
34
|
28
|
72
|
51
|
90
|
86
|
52
|
56
|
(5)
|
(12)
|
|
Pre-Tax Income |
(198)
N/A
|
(230)
-16%
|
(286)
-25%
|
(452)
-58%
|
(458)
-1%
|
(534)
-17%
|
(717)
-34%
|
(1 365)
-90%
|
(796)
+42%
|
(847)
-6%
|
(822)
+3%
|
(75)
+91%
|
(919)
-1 131%
|
(797)
+13%
|
(1 024)
-29%
|
(1 081)
-6%
|
(726)
+33%
|
(833)
-15%
|
(672)
+19%
|
(579)
+14%
|
(539)
+7%
|
|
Net Income | ||||||||||||||||||||||
Tax Provision |
(11)
|
(9)
|
(8)
|
(6)
|
(2)
|
(4)
|
(3)
|
(2)
|
(3)
|
(2)
|
(5)
|
(8)
|
(7)
|
(6)
|
(3)
|
1
|
(14)
|
(17)
|
(21)
|
(25)
|
(11)
|
|
Income from Continuing Operations |
(209)
|
(238)
|
(294)
|
(458)
|
(460)
|
(538)
|
(720)
|
(1 367)
|
(799)
|
(850)
|
(827)
|
(83)
|
(926)
|
(802)
|
(1 027)
|
(1 080)
|
(740)
|
(850)
|
(692)
|
(603)
|
(550)
|
|
Income to Minority Interest |
0
|
(0)
|
(1)
|
(2)
|
0
|
(0)
|
1
|
1
|
1
|
1
|
2
|
6
|
31
|
31
|
37
|
34
|
19
|
20
|
17
|
9
|
0
|
|
Net Income (Common) |
(239)
N/A
|
(279)
-17%
|
(337)
-21%
|
(502)
-49%
|
(637)
-27%
|
(705)
-11%
|
(875)
-24%
|
(1 511)
-73%
|
(1 753)
-16%
|
(1 909)
-9%
|
(2 176)
-14%
|
(1 427)
+34%
|
(996)
+30%
|
(771)
+23%
|
(701)
+9%
|
(756)
-8%
|
(727)
+4%
|
(830)
-14%
|
(675)
+19%
|
(594)
+12%
|
(550)
+7%
|
|
EPS (Diluted) |
-2.14
N/A
|
-2.5
-17%
|
-3.01
-20%
|
-5.45
-81%
|
-6.68
-23%
|
-6.3
+6%
|
-7.79
-24%
|
-13.31
-71%
|
-15.52
-17%
|
-16.13
-4%
|
-17.79
-10%
|
-11.62
+35%
|
-8.18
+30%
|
-6.25
+24%
|
-5.66
+9%
|
-6.1
-8%
|
-5.88
+4%
|
-6.78
-15%
|
-5.51
+19%
|
-4.89
+11%
|
-4.53
+7%
|