51Talk Online Education Group (COE) reported a first quarter net loss attributable to ordinary shareholders of $2.3 million, compared with a net loss of $1.7 million, a year ago. Net loss per share was $0.01, compared with a loss of $0.005. Net loss per ADS was $0.39, compared with a loss of $0.29.
Excluding share-based compensation expenses of $0.5 million, non-GAAP net loss attributable to the ordinary shareholders was $1.8 million, compared with a non-GAAP net loss of $1.4 million, last year. Excluding share-based compensation expenses, non-GAAP net loss per share was $0.005, compared with a loss of $0.004. Excluding share-based compensation expenses, non-GAAP net loss per ADS was $0.30, compared with a loss of $0.24.
Net revenues for the first quarter were $31.2 million, a 70.9% increase from $18.2 million, last year. Gross billings were $33.3 million, a 51.9% growth from $21.9 million, prior year.
For the second quarter, the company currently expects net gross billings to be between $36.0 million and $38.0 million, a sequential increase of 8.1% to 14.1% and an increase of approximately 26.5% to 33.5% from the same quarter in 2025.
Shares of 51Talk are down 7.14% to $20.43 on NYSE American in pre-market trade on Friday.
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