Page 35 - NobleCon21

51Talk Online Education Group

SELECTED FINANCIAL ITEMS COE
(in millions of USD)
CQ4 '24 CQ1 '25 CQ2 '25 CQ3 '25 LTM
Income Statement Key Items
Total Revenue 14.05 16.24 18.25 20.40 68.93
Gross Profit 11.06 12.59 14.04 15.22 52.91
Gross Margin 79% 78% 77% 75% 77%
EBIT (0.79) (0.90) (1.29) (2.72) (5.70)
EBIT Margin -6% -6% -7% -13% -8%
Net Income to Common Shareholders (0.65) (1.67) (1.49) (3.06) (6.87)
Net Margin -5% -10% -8% -15% -10%

Balance Sheet Key Items
Total Assets 38.93 43.94 45.49 52.94 52.94
Cash & Short Term Investments 22.19 27.76 29.42 27.77 27.77
% of Assets 57% 63% 65% 52% 52%
Current Assets -Total 36.67 40.09 42.01 49.67 49.67
% of Assets 94% 91% 92% 94% 94%
Total Liabilities 52.26 58.65 61.64 71.38 71.38
% of Assets 134% 133% 135% 135% 135%
Current Liabilities - Total 51.56 56.90 60.16 70.18 70.18
% of Assets 132% 129% 132% 133% 133%
Long Term Debt NA NA NA NA NA
% of Assets NM NM NM NM NM
Total Equity (13.34) (14.71) (16.14) (18.44) (18.44)
% of Assets -34% -33% -35% -35% -35%

Cash Flow Statement Key Items
Net Cash Flow - Operating Activities NA NA NA NA 0.00
Net Cash Flow - Investing NA NA NA NA 0.00
Net Cash Flow - Financing NA NA NA NA 0.00

Source: Capital IQ

PRICE / VOLUME

Source: Channelchek/QuoteMedia

Noble Capital Markets' Twenty-First Annual Emerging Growth Equity Conference