- TAL Education (TAL -2.9%) reports revenue rose 59% Y/Y in FQ4, mainly driven by an increase in total student enrollments of normal priced long-term course.
- Non-GAAP EPADS of -$0.14 beats by $0.06; GAAP EPADS of -$0.27 misses by $0.01
- Net loss widened on a GAAP basis to $169M from a year-ago loss of $90.1M. Reported Non-GAAP net loss of $88.7M from a year-ago loss of $57.2M.
- Total Student Enrollments of normal-priced long-term course increased 44% Y/Y to ~6,690K, primarily driven by the growth of enrollments in the small class offerings and online courses.
- Total physical network increased from 871 learning centers in 70 cities as of February 29, 2020 to 1,098 learning centers in 110 cities as of February 28, 2021.
- Cash and cash equivalents of $3,243.0M and $2,694.5M of short-term investments as of February 28, 2021, compared to $1,873.9M of cash and cash equivalents and $345.4M of short-term investments as of February 29, 2020.
- Total net revenues for fiscal Q1 2022 are expected to be between $1,302.2M and $1,320.5M vs. consensus of $1.27B.
- "In the fiscal year 2021, despite the challenges of the COVID-19 pandemic, TAL realized 37.3% revenue growth. Our strength in both offline and online education capabilities enabled us to offer tutoring support to our students under the changing circumstances. Looking ahead, we will keep investing in the quality of our products, service and technology as well as in sustainable marketing efforts. We will also further diversify our products, content and service while improving operational efficiency to meet our students and parents evolving needs at affordable prices," said Rong Luo, TAL's chief financial officer.
- Previously (Apr.22): TAL Education EPS beats by $0.06, beats on revenue.