third call anniversary. morning which Gaotu's good and to happened evening, quarter year conference be earnings listing us XXXX for Good joining Thank everyone. this Sherry. you, special on on our you first Thank day,
would noted. to XXX% based we all continued a were financial to at I of quarter, otherwise of million, profitable our increased year-over-year that later If of revenues and Moreover, RMBXXX.X like start, products. professional basis approximately businesses, for vocational for education have billings three maintain I the this to gross net revenues we educational remind XXXX, business growth can shown STEAM year-over-year. comparison. that and for The comparable our In quarter adult, information Before consecutive I which unless two only million were is mention and first our In business began increased RMB everyone on we consecutive our since business net of over and our quarters. their gross sales students restructuring. college XX% billings RMBXXX.X digital the development present gross healthy billings quarters education and remain sustainable and are education, comparable look comparable our businesses quarter-over-quarter
Our gross margin last was of higher period of same the slightly than quarter that this year. XX.X%
-- Our indicating effective income our Furthermore, our capital and we that net non-GAAP were million positive and remains have RMBXX.X achieved respectively, capital RMBXX.X income growth. position strong. net million,
and progress As equivalents, cash had balance of terms investments Since on restricted in cash restructuring and approximately short-term of -- adjustments XX, our a initiated organizational RMBX.X billion in million -- we we of XXXX RMBX.X focusing operations cash, business 'XX, and our our March during and core the sorry, total sheet. quarter have enhancing effects, product centered each I will the upon operational talk been improving of about three on key now these our three third the briefly businesses, quarter of points. last on year, quality efficiency.
adults, professional online education, will and core our STEAM continue students education concentrate our invest on education businesses, core which products. continue digital to and will to are businesses, educational in on First, in and education, terms of we vocational four for develop and college focusing we
this During approximately last billings realized with the Net services education that of growth. approximately increased revenues compared vocational XX% skill quarter-over-quarter our of gross and and quarter. secured its further professional XX% quarter, the quarter-over-quarter growth
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that continue also the fulfill diverse government policies, expand in to true platform. offer [indiscernible] businesses and learning our services and modified build advantages and other students of demand to We multidimensional the high a and service courses tutoring school satisfy upgraded XX students to will related
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uphold As quality. education such, continue we pursuit will to delivering exceptional our of
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same percentage This with the period is will quarter notably efficiency is year, changing in our improved. margin continue and this effective method highly improve compared acquisition XX resources to last points to proof has enhance education this further that work business As while environment. our To productivity. end optimizing towards decreased customer solid processes efficiency, even we external SM of of that the multi-channel
We sets have students. never skill new changed industries, opportunities has massive economic in brought in the about performed education more development which determination for upgrade thus once quality and our China's education transformation our a market possibilities. to created and and delivering China's and presented demand confidence highest on have various
by change. but next it's week. and only It continue education our of social a companies follow the Activity might ongoing training who Chinese required the an delivering thereby the for to innovate, responsibility education or be Success the deliver to transform, that and who who celebrating to who ups to company the can optimistic growth easy guided the three the long-term hard regardless faced of and by Chinese needs the persevered feel companies Through monitor we how trends run year become industry one education through field technology utilize a few as high-quality Eighth anniversary for value long have market, have and will are real promoting the to XX down, sustained be closely showed and even industry. to while will do dare to cultivate labor years, strong and selected lasting the the country's over the education opportunities and We business organization. maybe in belongs future. eager years environment Gaotu's
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we for Thank and pandemic staff Lastly, medical past the would dedication their all much. like thank the healthy. to opportunity hard this to deeply safe and in mainly and you very overcomes work take all days, stay
you to CFO, our will and details. walk our operational call Shannon, Now financial pass and through over I this
