51Talk Online Education Group (COE), a Singaporean online education platform, on Monday reported a wider net loss for the third quarter, reflecting higher expenses. However, the company reported a surge in revenue. In addition, the Group has announced a share repurchase drive of up to $10 million.
For the three-month period to September 30, the company recorded a net loss of $4.755 million, or $0.01 per share, compared with a loss of $0.618 million, or $0.00 per share, in the same period last year. Net loss per ADS stood at $0.80 as against a loss of $0.11 per ADS in the same period last year.
Excluding items, loss stood at $4.389 million, or $0.01 per share, as against the prior year's loss of $0.413 million, or $0.00 per share. Excluding items, loss was $0.74 per ADS, compared with a loss of $0.07 per ADS a year ago.
Loss from operations stood at $4.157 million, compared with a loss of $0.786 million in 2024.
Total operating expenses increased to $23.449 million from $11.848 million, mainly due to a spike in sales and marketing expenses.
Cost of revenue was $7.042 million, higher than $2.985 million in the previous year, due to a rise in total service fees paid to teachers, mainly resulting from an increased number of paid lessons.
Revenue was $26.334 million, higher than $14.047 million last year. The number of active students with attended lesson consumption was around 112,600, representing a 71.4% increase from 65,700 last year.
In addition, the Group said that its Board has authorized a new share repurchase program to repurchase up to $10 million of shares, including ADSs, over the next 12 months, ending on December 7, 2026.
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