高途 Gaotu Techedu Inc.（GOTU）2024年第一季度财报「NYSE」（英文版）（11页）.pdf

1、 Exhibit 99.1 Gaotu Techedu Announces First Quarter 2024 Unaudited Financial Results Beijing,China,May 21,2024 Gaotu Techedu Inc.(NYSE:GOTU)(“Gaotu”or the“Company”),a technology-driven education company and online large-class tutoring service provider in China,today announced its unaudited financial

2、 results for the first quarter ended March 31,2024.First Quarter 2024 Highlights1 Net revenues were RMB946.9 million,increased by 33.9%from RMB707.3 million in the same period of 2023.Gross billings2 were RMB729.4 million,increased by 35.3%from RMB539.0 million in the same period of 2023.Loss from o

3、perations was RMB77.7 million,compared with income from operations of RMB95.1 million in the same period of 2023.Net loss was RMB12.3 million,compared with net income of RMB113.9 million in the same period of 2023.Non-GAAP net income was RMB3.0 million,decreased by 97.7%from RMB133.6 million in the

4、same period of 2023.Net operating cash outflow was RMB197.4 million,compared with RMB216.4 million in the same period of 2023.First Quarter 2024 Key Financial and Operating Data(In thousands of RMB,except for percentages)For the three months ended March 31,2023 2024 Pct.Change Net revenues 707,292 9

5、46,885 33.9%Gross billings 538,951 729,360 35.3%Income/(loss)from operations 95,139 (77,702)(181.7)%Net income/(loss)113,853 (12,297)(110.8)%Non-GAAP net income 133,595 3,039 (97.7)%Net operating cash outflow (216,408)(197,435)(8.8)%1 For a reconciliation of non-GAAP numbers,please see the table cap

6、tioned Reconciliations of non-GAAP measures to the most comparable GAAP measures at the end of this press release.Non-GAAP income(loss)from operations and non-GAAP net income(loss)exclude share-based compensation expenses.2 Gross billings is a non-GAAP financial measure,which is defined as the total