FY24Q1收入延續高增，FY24Q2收入指引同增29-32%。
FY24Q1（2024.1.1-2024.3.31）高途收入9.47億元，同增33.9%，超出此前市場預期；現金收入7.29億元，同增35.3%；在排除續班錯期等一次性影響後，可比口徑現金收入同比增長超過70.0%。
Non-GAAP淨利304萬元；
在資金儲備方面，截至3月31日公司賬上現金儲備整體38.0億人民幣，較上年同時點增加約3.7億，可爲業務持續發展提供充分保障。
公司創始人、董事長兼首席執行官陳向東於2024年繼續用個人資金增持了51萬美國存托股,以此表達其投身教育的初心。
公司預計24Q2收入介於9.08-9.28億人民幣之間，同比增長29.1%-32.0%。
24Q1E revenue maintains high uptrend; guides 29-32% revenue growth for Q2E
Revenue:
Gaotu Techedu released unaudited results last week for 24Q1E: revenue came in above market expectations at RMB947m, an increase of 33.9% yoy; with gross billings rising 35.3% yoy to RMB729m, or rising 70.0% yoy if we exclude one-offs like post-dated course renewals.
Net profit:
non-GAAP net profit was RMB3.04m in Q1E, with cash reserves on account amounting to RMB3.80bn as of 31 March 2024, RMB370m higher yoy, providing comfort for the company’s sustainable growth.
ADS stake boost:
Gaotu founder, chairman and CEO Chen Xiangdong continued to invest personal funds to increase his ADS holdings by 510,000 shares in 2024 to date in fulfilling his expressed intention to devote himself to the education business.
Q2E guidance:
Gaotu guides revenue of RMB908m-928m in Q2E, up 29.1-32.0% yoy.
公司潛心專注於教學產品打磨和獲客渠道拓展
在產品端，聚焦提升教學產品與用戶需求的匹配度，打造多元化產品矩陣以更好的滿足用戶的學習需求，提高學習效率。在渠道端，發力拓展多元化渠道，並基於產品和內容的特點進行教學流程的打通和優化，提升獲客效率。
公司現金儲備充足，現金及現金等價物、受限資金、短期投資和長期投資，合計共約38.0億，同比增加約3.7億。本季度優異表現加深了公司在教學產品和教學服務、人才培養與組織升級，以及對多元創新渠道拓展進行戰略投入的信心。
Better and more diverse teaching products; more customer acquisition channels
Products:
the company worked to improve the applicability of its teaching products with a more diverse product portfolio that would better fulfill students’ learning needs and raise their learning effectiveness.
Channels:
it also strove to increase channel diversity by streamlining and optimizing teaching processes based on product and content characteristics to improve customer acquisition efficiency.
Ample cash:
Gaotu has sufficient cash reserves as of Q1E, encompassing cash and cash equivalents, restricted funds, and short-term and long-term investments, which amount to about RMB3.80bn, RMB370m higher yoy. Its financial firepower boosted the company’s confidence in making strategic investments into teaching products and teaching services, training talented staff and making organizational upgrades, as well as the expansion of multiple innovative channels.
高途持續完善教育產品矩陣，業務覆蓋非學科類素質教育等針對K12羣體的學習服務，大學生和成人教育以及出國留學相關業務等領域
在線業務持續高速推進，線下業務進一步加快拓展，加速推進創新業務發展，目前高途考研、留學等多個業務線分別在北京、鄭州、武漢等全國各地快速佈局，通過線上業務與線下業務相互結合、相互促進，打造學習服務閉環。
同時，配合業務的快速發展，高途持續進行創新投入，尤其在教學教研方面不斷加大投入力度，嚴控教學質量。本季高途投入研發1.5億元，同比增長56.3%，教研員工數量同比增長近50%。同時高途也在“教育+AI”等領域繼續探索，以科技爲槓桿撬動組織運營效率進一步提升。
Diverse matrix: K-12, non-academic, college students, adults, study abroad
The online business grew quickly alongside the expansion of its offline business, which was conducive to developing innovative solutions. Gaotu’s course categories currently include postgraduate and study-abroad exam prep, which it offers in Beijing, Zhengzhou, Wuhan and other parts of China. The integration and synergy of its online and offline businesses created a closed loop for its teaching services.
Gaotu invested into innovations, particularly in teaching and research, while it maintained a close eye on teaching quality. It invested RMB150m into R&D in Q1E, up 56.3% yoy, as the number of teaching and research staff increased nearly 50% yoy. The company also explored the synergy of artificial intelligence and education, using technology as a lever to raise organizational and operational efficiency.
