51talk Online Education Group
ir.51talk.comWhat Do They Do?
Provides one-on-one online English lessons with tutors to students, mainly children, in countries and regions outside mainland China.
20-F for FY2025, filed Apr 23, 2026
How Do They Make Money?
Students buy prepaid credit packages directly and generally pay tuition in advance; the company earns the payment as online classes are delivered.
20-F for FY2025, filed Apr 23, 2026Students purchase the services by subscribing to prepaid credit packages directly from the Group. Tuition is generally paid in advance and…View ↗
$95.6M
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20-F for FY2025, filed Apr 23, 2026
$95.6M ↗
Who Are Their Customers?
Telemarketing teams invite prospective students to free trial lessons, then course consultants recommend course packages and study plans; students purchase packages directly from the Group.
20-F for FY2025, filed Apr 23, 2026The sales leads generated by our various marketing channels are initially handled by our tele-marketing teams. The primary function of our…View ↗
We offer free trial lessons to prospective students. In addition to giving prospective students a preview of our interactive learning…View ↗
Once prospective students have completed their trial lessons, our dedicated course consultants will offer feedback on the results of their…View ↗
Students purchase the services by subscribing to prepaid credit packages directly from the Group. Tuition is generally paid in advance and…View ↗
Do Revenues Turn Into Profits?
Not on paper. It lost $16.8M in FY2025, but brought in more cash than it spent: $9.5M of free cash flow.
20-F for FY2025, filed Apr 23, 2026
−$14.4MView ↗
20-F for FY2025, filed Apr 23, 2026
−$16.8MView ↗
20-F for FY2025, filed Apr 23, 2026
$9.5MView ↗
How Are They Changing?
Growing. Revenue grew 121.3x in 4 years, from $788K in FY2021 to $95.6M in FY2025, about 232% a year.
Expanded international footprint
The latest report describes local operations in Saudi Arabia, Jordan, the United Arab Emirates and Vietnam, beyond the Hong Kong and Malaysia markets highlighted in the older report.
20-F for FY2022, filed Apr 6, 2023 20-F for FY2025, filed Apr 23, 2026We started our international business in the second half of 2021 and currently provide English course offerings in Hong Kong, Malaysia, and…View ↗
To support our global expansion, we have established wholly-owned subsidiaries and operations in local markets, including Malaysia (2022)…View ↗
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