achieving walk through landscape, the for rapidly our operating performance financial quarter year, and and joining thank changing today. key you call we in our will you, year Larry, evolving I everyone, our you, market and perseverance and XXXX. fourth demonstrated a strong Thank fiscal business. strategic This now for in milestones
our we have We financial on resource As guide dynamic high the competitive scale allocation a heights, the year to core operations. established new edge and the of growth. flexible note sustainable reaches steer towards calibrate to with our business ended the strengthening solid breakthroughs, continuously major further our mechanisms business business results approach and and of
grew the base year-over-year, excellence. continued reaching quarter, XX.X% long-term active our of XX.X% accumulation and user by revenue an annual During increased of and by the sequentially, peak our fourth driven teaching expansion by
underscore by market Meanwhile, gross growth growing increasing of our and rising scale, influence billings results brand the our also expanding maintained in but success strength not market momentum, XX.X% highlight These only year-over-year. strong recognition.
to front, the economics of scale. contributed a further the margins, supported growing of base by On existing users profitability improve
reflects operational efficiency, greater a As the narrowed year-over-year. progress solid quarter This driving maintaining significantly a for in success a and for from our operations loss laying long-term result, model economics foundation unit healthy growth.
over revenues generated RMB for by For X.X net year, billings to We XX.X% the by operating increased billion, gross while year-over-year inflow grew X.X billion. million full year. year-over-year cash XX.X% the in RMB XXX.X RMB net approximately to
at and As XX, and cash cash billion. short- XXXX, including cash and total long-term position, equivalents, of cash stood our RMB X.X December investments restricted
RMB of XXX.X for by cash the and support financial last same business of share our compared impact to repurchase, safety ensuring strategic reserves year, the increased a ample provides Excluding to sufficient margin investments. flexibility million development our time
Next, progress than learning will total year-over-year of other through quarter. came walk revenues. nonacademic contributed made services, of I during representing a tutoring services you more the nearly XX% XX% have Services it we and Breaking revenues Learning down, increase. the net triple-digit from traditional
in remain educational initiatives learning continuous to experience. the driving Focusing learning and enhance our innovation teaching effectiveness services, nonacademic tutoring products to dedicated and on new overall services
critical cognitive products formats, thinking constantly learning, skills, instilling igniting practical students' By learning we growth, abilities. interest course are diverse fostering introducing new interactive cultivating in lifelong and and improving
sustained segment gross growth strong quarter. triple-digit this in billings momentum, quarter, achieving growth the the for During consecutive third year-over-year
contributed of Our than for approaches new with and retention by points educational students also both to teaching rising year-over-year. products has more rate retention X percentage ongoing refinement improved
services education position learning leading Our continue a maintain online in traditional to the sector.
building On to of enhanced by meet the books our diverse ecosystem at further assistants levels. different front, needs the multi-tiered development learning mode of comprehensive and product students teaching content we a
in book self-developed highlights expand for demand and adopted schools by products provinces brand multiple and series reach. the our across our market This China. been has strong Our presence
and services, indicators remain retention key business. strength terms as teaching of healthy of growth such rates satisfaction of our sustained at user quality offerings levels, performance In industry-leading the our reaffirming and supporting and
and in and for services momentum, strategic segment this crucial our nearly gained of contributing core focus other component adults. of The robust XX% the optimization, learning college offerings streamlined revenues quarter. educational Through growth in is services total students
tutor-to-student and technology educational students, sustainable our increase in AI for teaching significantly the We the model enhance for have to ratio. efficiency a services leveraged improving teaching enabling college
enhancements word-of-mouth ongoing optimized in rise steady effect. to and and in quality creating a a further Additionally, referrals overall user experience, the service leading products self-reinforcing
path double-digit From On revenue a grew this revenue billings growth the to segment year. gross billings financial our high segment quarter, that while cash operations. full inflow This time, prior milestone net operating both last period basis the towards a a for And profitability this sustainable major X.Xx basis, the year expansion. same more rapid year-over-year and year. for gross reaching an compared experienced the with by in perspective, hit doubled annual first on of marks
helped This achievements test stem business Our international its our and successfully to of professional These Cornell to service quality overseas commitment Columbia, and effectiveness continues our understanding year, value. students prestigious and needs other Harvard, and the admission offerings. user service to Ivy gain League prep deep our other process highlighting demonstrate from of universities, schools we ongoing excellence.
remain rich deliver solutions, on every will advantage aim ourselves and learning and trusted deepening we a effective technological high to of journey. diverse cutting-edge AI leveraging focused as in ahead, establishing By to the user partner personalized high-quality innovation we product learner's most learning drive the value portfolio and technologies, scenarios, growth. user-centric, Looking unique
I will now our more financials present in detail.
RMB revenue it RMB Total increased RMB XX.X% the RMB a XXX.X XXX.X quarter revenue. cost XX.X% increased for of profit year-over-year net million this margin to quarter was expenses Breaking gross increased down, accounting this X.X year-over-year with year-over-year XX.X% to of Gross operating approximately XX.X% selling during expenses of million. XXX.X billion. million, to XX.X% Our quarter
XXX.X as increased notable XX.X% experience expenses development associated accounting net revenues. and RMB increase expenses for RMB adjustments. efforts product and expense including to revenues. acquisition with for accounting industry XXX.X expansion million, net administrative the management of Research professionals General million, was The of year-over-year X.X% and to increased XX.X% of capabilities as year-over-year with to business talent certain onetime well strong to proactive extensive onboarding our attributable our support portfolio, XX.X%
net Non-GAAP Net XXX.X net was XXX.X RMB inflow operations margin RMB operating loss XX.X%. RMB year-over-year. XX.X% was million, RMB non-GAAP improved loss margin and X.X margin from X.X%. margin negative million, loss net non-GAAP Loss by and was percentage X.X%. points negative to operations Operating narrowing X.X%. by year-over-year income was was Non-GAAP from XXX.X income negative XXX negative Net million million, RMB was operating XXX.X was and million. was
turning to balance Now our sheet.
revenue long-term in As along and RMB cash, billion of in held a December approximately million RMB total in ] was in to tuition short-term of December XX, RMB primarily RMB X.X with cash, comes XXX.X of investments XXXX, X.X and X.X XXXX, received equivalents At billion. deferred This XX, billion, billion balance our [ we RMB restricted cash consisting X.X investments. advance.
trading approximately ] existing most on of million [ As recent XX.X of for million aggregate day, an program. we the the ADSs market under the share open XXX approximately repurchase RMB repurchased
accelerate will value buybacks We forthcoming Directors' in for execution accordance long-term window the the Board shareholders. guidance in open our of with share the to of create
total actual to risks our that to contains I allow provide and please Before XXXX X,XXX outlook statements, for and cause materially estimates, beyond be million for and control RMB increase an the representing to business million, revenues differ remind current XX.X% everyone between basis. expected me uncertainties to on a net our quarter our on are from the Based our next the RMB XX.X% involve which of quarter, results of year-over-year first this forward-looking X,XXX could predictions.
prepared are you, Thank section. concludes for my for the everyone, remarks. Q&A Operator, now This ready listening. we
