51Talk Online Education Group (COE) SEC Filings & Earnings Calls
EquiReason read 10 51Talk Online Education Group SEC filings in the last 12 months. Latest: SC 13D/A on 2026-10-16 — Insider group led by Jack Jiajia Huang filed Amendment No. 11 to Schedule 13D, disclosing increased beneficial ownership to 37.4% and voting power to 42.4% via open-market purchase.
Source: SEC EDGAR filings · read by EquiReason
- Market cap
- 287.3M
- P/E TTM
- —
- Dividend yield
- —
- 52-week
- —
- Next earnings
- 7 Dec, in 43 days
Every filing, read
last 12 months · SECWhat happened, the numbers inside, guidance and risks. The original is one click away.
15 Sep 20266-K51Talk reported Q2 2026 results: net revenues $32.4M (+58.8% YoY), gross billings $39.3M (+38.1% YoY), active students 138.1K (+51.3% YoY), operating loss improved to $2.1M from $3.2M.earningsopen
Figures in the filing · each found in the filing text
| Net revenues · Q2-2026 | $32M | +59% y/y |
| Gross billings · Q2-2026 | $39M | +38% y/y |
| Active students with attended lesson consumption · Q2-2026 | 138,100 | +51% y/y |
| Gross margin · Q2-2026 | 73.9% | |
| Operating cash inflow · Q2-2026 | $5M |
Risks flagged
Company still operating at a loss, though improving; reliance on sales and marketing spend for growth.
“Operating loss for the second quarter of 2026 was US$2.1 million; sales and marketing expenses increased 48.8% YoY.”
12 Jun 20266-K51Talk reported Q1 2026 results: net revenues $31.2M (+70.9% YoY), gross billings $33.3M (+51.9% YoY), active students 132.9K (+63.9% YoY). Operating loss narrowed sequentially. Strong growth.earningsopen
Figures in the filing · each found in the filing text
| Net Revenues · Q1-2026 | $31M | +71% y/y |
| Gross Billings · Q1-2026 | $33M | +52% y/y |
| Active Students with Attended Lesson Consumption · Q1-2026 | 132,900 | +64% y/y |
| Gross Margin · Q1-2026 | 73.7% | |
| Operating Loss · Q1-2026 | $1M | |
| Net Loss Attributable to Ordinary Shareholders · Q1-2026 | $2M |
Risks flagged
Gross margin decline due to payment processing fees; net loss increased.
“Gross margin decreased 3.1 ppt; net loss increased from $1.7M to $2.3M.”
23 Apr 202620-FAnnual report for FY2025 showing strong revenue growth but widening net loss; no explicit beat or miss versus expectations stated.earningsopen
Figures in the filing · each found in the filing text
| Gross billings · international business · FY2025 | $128M | +83% y/y |
| Active students with general lesson consumption · international business · FY2025 | 176,700 | +81% y/y |
| Paying students · international business · FY2025 | 123,300 | +81% y/y |
| Net revenues · international business · FY2025 | $96M | +89% y/y |
| Net loss · international business · FY2025 | $17M | +132% y/y |
| Sales and marketing expenses · international business · FY2025 | $62M | +87% y/y |
| Average spending per paying student · international business · FY2025 | $1000.00 | 0% y/y |
| Number of foreign tutors · international business · FY2025 | 9,800 |
Risks flagged
Limited international operating history
“Our limited operating history in the international market makes it difficult to evaluate our future prospects.” · word for word
Negative equity and accumulated deficit
“We had accumulated deficit of US$370.4 million as of December 31, 2025. As of December 31, 2025, we had a total shareholders' equity of negative US$31.3 million and our current liabilities exceeded the current assets by US$35.0 million.” · word for word
Geopolitical and regulatory risks in multiple jurisdictions
“Rising geopolitical tension between the countries and regions where we operate our business may disrupt the economy and business environment of the countries and regions where we operate our business, which may negatively impact our business operations in these countries and regions.” · word for word
Material weakness in internal controls
“We could not completely remediate the material weaknesses identified in 2024. Furthermore, a new material weakness was identified in 2025 related to our Information Technology General Controls (ITGC).” · word for word
27 Mar 20266-K51Talk reports Q4/FY2025 results: net revenues up 88.6% YoY to $30.6M (Q4) and $95.6M (FY); gross billings up 83.4% to $127.6M; active students up 79.3% to 170,300; operating cash inflow $11.8M.earningsopen
Figures in the filing · each found in the filing text
| Net Revenues · FY2025 | $96M | +89% y/y |
| Gross Billings · FY2025 | $128M | +83% y/y |
| Active Students · FY2025 | 170,300 | +79% y/y |
| Gross Margin · FY2025 | 73.9% | |
| Operating Cash Inflow · FY2025 | $12M |
Risks flagged
Gross margin contraction due to higher tutor costs and strategic incentives
“Gross margin for Q4 2025 was 72.4%, compared with 77.5% for the same quarter last year.”
Operating loss widened to $5.2M in Q4 from $0.9M loss a year ago
“Operating loss for the fourth quarter of 2025 was US$5.2 million, compared with operating loss of US$0.9 million for the same quarter last year.” · word for word
8 Dec 20256-K51Talk reported Q3 2025 net revenues of US$26.3M (+87.5% YoY), gross billings of US$40.5M (+104.6% YoY), and active students of 112.6K (+71.4% YoY), surpassing guidance.earningsopen
Figures in the filing · each found in the filing text
| Net Revenues · Q3-2025 | $26M | +88% y/y |
| Gross Billings · Q3-2025 | $41M | +105% y/y |
| Active Students · Q3-2025 | 112,600 | +71% y/y |
| Gross Margin · Q3-2025 | 73.3% | |
| Operating Cash Inflow · Q3-2025 | $7M |
Guidance
Gross billings surpassed previously issued guidance
Gross billings exceeded guidance, indicating strong demand; management expresses confidence in global expansion and sustainable growth.
Risks flagged
Gross margin contraction due to rising teacher costs may pressure profitability if growth slows.
“Gross margin declined from 78.7% to 73.3% YoY, while cost of revenues increased 135.9%.”
51Talk Online Education Group — questions
- What did 51Talk Online Education Group file recently?
- 10 SEC filings in the last 12 months. Latest: SC 13D/A on 2026-10-16 — Insider group led by Jack Jiajia Huang filed Amendment No. 11 to Schedule 13D, disclosing increased beneficial ownership to 37.4% and voting power to 42.4% via open-market purchases under a 10b5-1 trading plan.
Every figure on this page comes from 51Talk Online Education Group's own SEC filings — see them on SEC EDGAR. Price data is licensed and shown only inside the product.
How these figures are read: methodology · EquiReason.