Sunlands Technology Group Announces Unaudited First Quarter 2021 Financial Results
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Sunlands Technology Group (STG) Reports Q1 Loss of $1.20 on Revenues of $106M
May 25, 2021 5:57 AM EDTSunlands Technology Group (NYSE: STG) reported Q1 EPS of ($1.20). Revenue for the quarter came in at $106 million.
First Quarter 2021 Financial and Operational Snapshots
Net revenues were RMB694.3 million (US$106.0 million), representing a 22.9% increase year-over-year.Gross billings (non-GAAP) were RMB593.7 million (US$90.6 million), representing a 14.9% increase year-over-year.Gross profit was RMB587.9 million (US$89.7 million), representing a 25.6% increase year-over-year.Net loss was RMB53.3 million (US$8.1 million), representing an 18.7% decrease year-over-year.Net loss margin, defined as net loss as a percentage of net revenues, decreased to 7.7% from 11.6% in the first quarter of 2020.New... More