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Tarena International Q1 net revenues up 22.1%

Staff Writer |
Tarena International, a provider of professional education services in China, announced its unaudited financial results for the first quarter ended March 31, 2018.

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Net revenues increased by 22.1% year-over-year to RMB406.3 million from RMB332.7 million in the same period in 2017.

Gross profit increased by 3.0% year-over-year to RMB211.2 million from RMB204.9 million in the same period in 2017.

Operating loss was RMB188.1 million, compared to an operating loss of RMB34.1 million in the same period in 2017.

Non-GAAP operating loss, which excluded share-based compensation expenses, was RMB153.4 million, compared to a non-GAAP operating loss of RMB23.0 million in the same period in 2017.

Net loss was RMB180.5 million, compared to a net loss of RMB24.6 million in the same period in 2017.

Non-GAAP net loss, which excluded share-based compensation expenses, was RMB145.7 million, compared to a non-GAAP net loss of RMB13.5 million in the same period in 2017.

Basic and diluted loss per American Depositary Share (ADS) was RMB3.21. Non-GAAP basic and non-GAAP diluted loss per ADS, which excluded share-based compensation expenses, was RMB2.59. Each ADS represents one Class A ordinary share.

Cash, cash equivalents and time deposits totaled RMB1,020.0 million as of March 31, 2018, compared to RMB1,119.7 million as of December 31, 2017.

Deferred revenue totaled RMB500.3 million as of March 31, 2018, compared to RMB302.2 million as of December 31, 2017, representing an increase of 65.6%.

Total course enrollments, defined as the cumulative number of courses enrolled in by our students, in the first quarter of 2018 increased by 13.8% year-over-year to 27,893.

Total student enrollments, defined as the total number of new students recruited and registered, in the first quarter of 2018 increased by 10.3% year-over-year to 30,647.

Total number of learning centers increased to 200 as of March 31, 2018, from 160 as of March 31, 2017. ■

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