you, Jack. everyone. Hello, Thank
million. top end QX reached $X.X of Our $X.X million, into gross QX our as overseas continued the XXXX business growth exceeding billings guidance momentum of
on continue proposition pathway that for balanced will learning English. bring strong and students' sustained our value our execute to growth of overseas strategy We
$X.X quarter. QX $X.X for million, financial $X.X Mainland down the accrued million, and $XX.X business, were related overseas our was from corresponding XX.X%, QX business cost were first noncompliant Sales were the we for lesson sales down million overseas $X.X and and business of for quarter expense company's consumptions and and me million year. penalty million first expenses XX% $XX.X through for Gross million still $X.X the but as negative did consumptions, and $XX.X million. recorded related for costs. quarter details. million, quarter operating and Net of negative expenses last the our We Net respectively. VAT Mainland expenses $X.X were noncompliant for recognize marketing of QX $X.X and business million, revenues expenses decrease Mainland million, which, business XX.X% margin and marketing $X.X $XX from same to million for and development were not XX% were overseas a China Now XX% million million revenues expenses China business development $X.X for and QX the you VAT representing last Product business respectively. Gross China Mainland overseas QX were Among respectively. walk million, revenues Mainland were sequentially. were XX%. were the were million company's lesson let revenue product XXXX China sequential $X.X a $X.X sequentially. decline respectively. business margin and G&A severance $X.X million. the were million, China business XX.X% $X.X
equivalent, first million which $X.X which, cash, cash cash, decreased of business. total Advances for and Mainland loss Mainland overseas company's and $XXX.X investments restricted gap sequentially. The $XX.X advances operating operating $X.XX $XXX loss was Mainland Among million China and first loss $X.XX, students million, would negative students have $X.X million. business and among Excluding million, were QX was $XX.X at million, million for these $X.X QX G&A million. down QX respectively. from were and advances million at short-term Mainland where loss $X.X overseas GAAP from the cash restricted overseas quarter. $XX million supervision. China time items from non-GAAP of for loss million EPS from was negative China were cash was The end was $X.X net end business QX the million. were onetime has $XX.X between business business and QX and were $XXX.X respectively. from were Net $XXX under for to QX. China which, million were $XX.X government quarter. the and balances operating in were million And business, XX% overseas deposits, G&A expenses the million in $X.X expenses been students
$X.X Looking related This based market the transaction, million the to the current to sequential we gross concludes $X.X forward overseas to than subject billing less spin-off be and the slightly XX.X% flow excluding remarks. our net and on market we and all to be XXXX, $X The expect customer which currently costs preliminary reflects outlook cash operating second between is to growth operating the company's the quarter change. conditions positive. above to to representing of related We estimate transaction to million, are conditions million. business and demand, And XX.X%. estimate be expect costs of prepared and QX of the current between
to Operator, ahead. the please open call We questions. will now go
