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COE: financial statements from SEC — TradeAlmanac

COE

51Talk Online Education Group: financial statements

Company reports as filed with the U.S. Securities and Exchange Commission.

AnnualQuarterly

Income statement

Metric	31/12/2025	31/12/2024	31/12/2023	31/12/2022
Revenue	96M	51M	27M	15M
Cost of revenue	25M	11M	6M	3M
Gross profit	71M	40M	21M	12M
Research and development	5M	4M	3M	3M
Selling, general and administrative	17M	11M	8M	8M
Operating expenses	85M	48M	34M	24M
Operating income	−14M	−8M	−14M	−12M
Pre-tax income	−16M	−7M	−15M	−13M
Income tax	1M	276,000	118,000	60,000
Net income	−17M	−7M	−15M	−43M
Earnings per share	−0.05	−0.02	−0.04	−0.04
Earnings per share, diluted	−0.05	−0.02	−0.04	−0.04
Weighted average shares	355M	347M	341M	336M
Weighted average shares, diluted	355M	347M	341M	336M

Balance sheet

Metric	19/08/2026	18/08/2026	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021
Cash and equivalents	—	—	39M	28M	21M	18M	—
Current assets	—	—	60M

Cash flow

Metric	31/12/2025	31/12/2024	31/12/2023	31/12/2022
Operating cash flow	12M	6M	559,000	−46M
Depreciation and amortisation	434,000	137,000	99,000	103,000
Share-based compensation	1M	934,000	910,000	712,000
Capital expenditure

Amounts in USD unless stated otherwise. Data: US exchange trading and company filings with the regulator