Tarena achieves a net income of US$4.3 million in Q1 2022

Tarena (NASDAQ: TEDU), a Beijing-based provider of adult professional education and childhood & adolescent quality education services in China, announced its unaudited financial results for the first quarter ended March 31, 2022.

Net revenues increased by 16.8% year-over-year to US$98.4 million. Net revenue from childhood & adolescent quality education business (56.8% of the total net revenues) increased by 27.2% year-over-year to US$55.8 million. Net revenue from the adult professional education business (43.2% of the total net revenues), increased by 5.5% year-over-year to US$42.5 million.

Gross profit increased by 43.6% year-over-year to US$56.6 million. Gross profit margin increased by 10.8% points year-over-year to 57.6%.

Operating income was US$4.5 million, compared to an operating loss of US$19.23 million in the same period of 2021. Operating margin improved year-over-year to 4.6% from -24.3% in the same period of 2021.

Net income was US$4.3 million, compared to a net loss of US$18.09 million in the same period of 2021.

Cash, cash equivalents and time deposits, including current and non-current, and restricted cash totaled US$65.7 million as of March 31, 2022. 

"In the first quarter of 2022, we ended our long streak of quarterly net losses to achieve a net income. This marked the beginning of a healthy trajectory for our business,” said Sun Ying, the Chief Executive Officer of Tarena.

"Our core competitive advantages are backed by the constant optimization and upgrading of our business procedures and processes, which include our Online-Merge-Offline (OMO) customer acquisition model and omni-channel service delivery capability,” added she.