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MARKETS / NYSE / COE
NYSE · SERVICES-EDUCATIONAL SERVICES · SMALL CAP

51Talk Online Education Group COE

12 fiscal years on record · CNY · FY2025 reported · SEC filings only
$95.6M
▲ 88.6% YoY
$-16.8M
CNY 9.5M
▲ 72.3% YoY
In brief

What this company does

As of December 31, 2025, it had approximately 9.8 thousand foreign tutors qualified to deliver lessons on its platform. It has fully divested from the China Mainland Business and is now completely focused on international markets, drawing on its expertise in English education and its pool of English tutors. It started its international business in the second half of 2021 and currently offers English courses in Hong Kong, Thailand, the Middle East and other countries and regions. 51Talk Online Education Group began providing English education services in July 2011, initially in mainland China. It incorporated China Online Education Group, known as 51Talk, as its offshore holding company under the laws of the Cayman Islands in November 2012.

Written from the business description in 51Talk Online Education Group's annual report to the U.S. Securities and Exchange Commission, filed 23 April 2026. Every sentence was checked against that document before publication.

Growth
USD 95.6M
Revenue, FY2025 · full 12-year series below
Revenue CNY B Net income CNY B
FY2019 · Revenue 1.5 · Net income -0.1
0.5B1.0B-0.2B-0.4B2014201620182020202220242025
Compound annual growth
+85.2%
3 yrs
5 yrs
10 yrs
15 yrs

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−18 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -15.1% · Net -17.6%
5000%10000%15000%2014201620182020202220242025
ROE

Not applicable: equity was negative in this period, so return on equity has no meaning.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow CNY M
FY2025 · FCF 9.5
200M-50M-100M2014201620182020202220242025
Net buybacks CNY M Dividends CNY M
FY2020 · Dividends — · Net buybacks 12.8
5M10M20192020

Total assetsUSD 66.1M
EquityUSD -31.4M
CashSAR 54.1M
Current ratio0.63×

Equity funds -47% of total assets.

The 12-year record
12 fiscal years
Every figure from documents filed with the SEC · CNY

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 202520242023202220212020201920182017201620152014
Revenue CNY B·····2.11.51.10.80.40.20.1
Operating income CNY B·····0.1−0.1−0.4−0.6−0.5−0.3−0.1
EBITDA CNY B−0.0−0.0−0.0−0.0−0.0·−0.1−0.4−0.5−0.5−0.3−0.1
Income tax CNY B·····−0.00.00.00.00.00.00.0
Net income CNY B······−0.1−0.4−0.6−0.5−0.3−0.1
Free cash flow CNY B0.00.00.0−0.0··0.40.00.0−0.0−0.1−0.0
EPS, diluted CNY ····0.350.43−0.34−1.37−1.93−3.03−5.57−1.71
Dividend / sh CNY ············
Payout %············
ROE %············
Shares out B0.360.350.340.340.330.320.310.310.300.300.07·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 7 failures in 57 reconciliationsAUDITED

Reconciled in 5 of 19 fiscal years. 38 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente7 failures
ActivityServices-Educational Services
Listed onNYSE
Incorporated inoutside the United States — SEC code E9
Fiscal year endsDecember 31
Data on record since2014

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