for And thank call. you everyone joining Thanks, the Larry.
effectiveness will Now, we in the build as terms. of to technology, conclude development data terms content experience and improving quarter. out financial we of through operating walk how comprehensively upgraded and the tutor instructor coming our and you our learning RMB remained products our our we Please note students. committed is with I and financial and XXXX, In in firmly our results, teams,
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set billings, we paid revenues, as quarter, fourth all enrollments. and time the record gross for During
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XXXX. fiscal recap will financials I briefly year the out, the for Moving
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XXXX for the teaching our by financials numbers, key quarter year-over-year of quality details. XXX% the fourth billion driven through to Revenue go enhanced recognition. thanks to RMBX.X student continuously increased in expanding brand me and let Next,
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summary. selected financial Moving to metrics over
year-over-year RMBX.XXX service servers, enhance quarter bandwidth, XX% XXXX. which tutors increase billion, an to RMBXXX students profit experience approximately increase XXXX. the million in from Non-GAAP in XX% to excludes margin, share-based The Expenses and instructors period approximately from our quarter, our billion. in primarily level about RMBXX number in sequential the expenses, growth million from same the the the et will compensation third gross compensation as increased and due fourth year-over-year down by in server million. expenses cetera. such to branding for GAAP as remaining and revenues compensation down the tutors, mainly labor, by our acquisition gross learning The well materials, of decline XXX% the Selling dropped in well of decreased for Our activities was expenses increase instructors to XX% bandwidth due and margin received cost. cover cost to an increased staff. first period as as profit which of decreased from XX% was in RMBXXX selling XX% for expenses. same of rental traffic that expenses is decrease to were of RMBX.XXX and personalized expenses The that for Within sales XXXX. to up
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will in will costs unnecessary activities. Gaotu K-XX which branding forward, branding around brand, the our Going focus save we practices
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and losses. focused always have growth on expansion at of effective our expense will never scale strategy, we We the pursue meaningless
and control innovations around sales customer including the a satisfaction. acquisition, technology intelligent on have traffic leads of grouping, We progresses student made traffic acquisition, number
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million billion be of investments and cash of short-term combining and investments compares That and short-term billion. XXXX. cash and RMBX.X as investments, As of equivalents, RMBXXX cash of cash RMBX.X billion total of RMBXXX we XX, XX, of million had RMBX.X investments with a December to December of equivalents, XXXX, long-term long-term
XX, flow business RMBXXX for and in strong will revenue consists primarily revenue of the in capability, Net fourth quarter demonstrates was December RMBX.XX cash returns. billion. outlook. of XXXX, Deferred our With collected the our balance advance. of I operating our organizational that, investments As balancing was tuition now provide XXXX million. This deferred
would I view the quarter’s influencing highlight start, performance. how I to Before coming we factors X like
are more to Festival courses XXXX. to rate than add the apple-to-apple weeks at an we this corresponding and revenue. than Spring deliver later in weekends quarter, started XX% Firstly, comparison, fewer is the Housing Therefore, for providing. a so we of XXXX should X least the growth guidance
sole courses. to be is Secondly, promotional this offering Parents short-term year’s do regular semester courses and our focused on students Instead, growth winter have semester sessions higher. and short. we take the break and spring the not to second both enough winter expect time quarter’s
higher and sudden base COVID-XX. Thirdly, the of we the a in gross quarter first had revenues of by billings of XXXX affected the outbreak
our representing concludes on XX% on and of between a Operator, based to expected prepared revenue are of be RMBX.XXX are ready now such, questions. remarks. first XXXX RMBX.XXX an net to current That year-over-year As we increase billion quarter estimate, XX% for my the take to billion, Thanks. basis.
