- Tarena International Inc (NASDAQ:TEDU) reported second-quarter FY21 revenue growth of 75.5% year-over-year to RMB582.3 million ($90.2 million).
- Revenue from adult professional education business increased by 22.3% Y/Y to RMB292.9 million ($45.4 million). Revenue from childhood & adolescent quality education business surged by 213.2% Y/Y to RMB289.4 million ($44.8 million).
- Deferred revenue totaled RMB2.06 billion ($319.5 million) as of June 30, 2021, up 3.2% Y/Y.
- Gross profit increased by 211% Y/Y to RMB294.4 million ($45.6 million), and margin expanded to 50.6% from 28.5% a year ago.
- Operating loss reduced to RMB(90.7) million from RMB(294.9) million in the same period of 2020. The adjusted operating loss was RMB(86.6) million versus RMB(282.7) million last year.
- Loss per ADS was RMB(1.39) or $(0.22), compared to RMB(4.92) in 2Q20.
- Tarena had cash and equivalents of RMB295.9 million ($45.8 million) as of June 30, 2021. Tarena's net cash outflow from operating activities in the quarter was RMB47.5 million ($7.4 million).
- In the adult professional education business, total student enrollments decreased by 14.8% Y/Y to 31,100 in Q2, and the total number of learning centers decreased to 99 as of June 30, 2021.
- In the childhood & adolescent quality education business, total student enrollments in Q2 increased by 40.2% Y/Y to 140,200, and learning centers increased to 235 as of June 30, 2021.
- Q3 Outlook: Tarena expects net revenues of RMB600 million - RMB630 million.
- Price Action: TEDU shares are trading lower by 4.70% at $1.42 on the last check Friday.
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