DAO - Youdao Non-GAAP EPADS of -$0.09 revenue of $189.4M

Youdao press release (NYSE:DAO): Q1 Non-GAAP EPADS of -$0.09. Revenue of $189.4M (+26.6% Y/Y). Gross margin was 53.5%, compared to 52.4% for the same period in 2021. As of March 31, 2022, Youdao's cash, cash equivalents, restricted cash, time deposits and short-term investments totaled $183.0M, compared with RMB1.6B as of December 31, 2021. "Looking ahead, we will continue to implement our strategy of four growth pillars, i.e. smart devices, STEAM courses, vocational education and education digitization. The first two, smart devices and STEAM courses, are at a larger scale and already contribute a significant portion of our business. The latter two are making good progress in terms of product development and business model validation. We expect to see challenges, including this new wave of COVID pandemic in China. We will endeavor to overcome them through our diversity of businesses, large user bases and deep technical roots for innovation," said Dr. Feng Zhou, Chief

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Youdao Non-GAAP EPADS of -$0.09, revenue of $189.4M