TAL Education Group 🧙
Fourth Fiscal Quarter and the Fiscal Year 2021
- Quarterly Results:
Net Revenues up by 58.9% Year-Over-Year for the Fourth Fiscal Quarter
Non-GAAP Loss from Operations was US$216.9 million, compared to Non-GAAP Loss
from Operations of US$8.4 million in the Same Period of Prior Year
Total Student Enrollments of Normal Priced Long-term Course up by 44.0% Year-OverYear
- Fiscal Year Results:
Net Revenues up by 37.3%
Non-GAAP Loss from Operations was US$233.3 million, compared to Non-GAAP
Income from Operations of US$255.4 million in Fiscal Year 2020
Non-GAAP net income attributable to TAL, which excluded share-based compensation
expenses, was US$89.0 million, compared to non-GAAP net income attributable to TAL of
US$7.7 million in fiscal year 2020
Quarterly Average Student Enrollments of Normal Priced Long-term Course up by
54.4% Year-Over-Year
(Beijing–April 22, 2021)—TAL Education Group (NYSE: TAL) (“TAL” or the “Company”),
a leading K-12 after-school tutoring services provider in China, today announced its
unaudited financial results for the fourth quarter and the fiscal year ended February 28, 2021.
Highlights for the Fourth Quarter of Fiscal Year 2021
- Net revenues increased by 58.9% year-over-year to US$1,362.7 million from US$857.7
million in the same period of the prior year.
- Loss from operations was US$297.2 million, compared to loss from operations of
US$41.3 million in the same period of the prior year.
- Non-GAAP loss from operations, which excluded share-based compensation expenses,
was US$216.9 million, compared to non-GAAP loss from operations of US$8.4 million
in the same period of the prior year.
- Net loss attributable to TAL was US$169.0 million, compared to net loss attributable to
TAL of US$90.1 million in the same period of the prior year.
- Non-GAAP net loss attributable to TAL, which excluded share-based compensation
expenses, was US$88.7 million, compared to non-GAAP net loss attributable to TAL of
US$57.2 million in the same period of the prior year.
- Basic and diluted net loss per American Depositary Share (“ADS”) were both US$0.27.
Non-GAAP basic and diluted net loss per ADS, which excluded share-based
compensation expenses, were both US$0.14. Three ADSs represent one Class A common
share.
- Cash, cash equivalents and short-term investments totaled US$5,937.5 million as of
February 28, 2021, compared to US$2,219.3 million as of February 29, 2020.
- Total student enrollments of normal priced long-term course increased by 44.0% yearover-year to approximately 6,690,950 from approximately 4,646,040 in the same period
of the prior year.
Highlights for the Fiscal Year Ended February 28, 2021
- Net revenues increased by 37.3% year-over-year to US$4,495.8 million from US$3,273.3
million in fiscal year 2020.
- Loss from operations was US$438.2 million, compared to income from operations of
US$137.4 million in fiscal year 2020.
- Non-GAAP loss from operations, which excluded share-based compensation expenses,
was US$233.3 million, compared to non-GAAP income from operations of US$255.4
million in fiscal year 2020.
- Net loss attributable to TAL was US$116.0 million, compared to net loss attributable to
TAL of US$110.2 million in fiscal year 2020.
- Non-GAAP net income attributable to TAL, which excluded share-based compensation
expenses, was US$89.0 million, compared to non-GAAP net income attributable to TAL
of US$7.7 million in fiscal year 2020.
- Basic and diluted net loss per ADS were both US$0.19. Non-GAAP basic and diluted net
income per ADS, excluding share-based compensation expenses, were US$0.15 and
US$0.14, respectively.
- Average student enrollments of normal priced long-term course per quarter during fiscal
year 2021 increased by 54.4% year-over-year to approximately 4,669,140 from
approximately 3,023,840 in fiscal year 2020.
- Total physical network increased from 871 learning centers in 70 cities as of February 29,
2020 to 1,098 learning centers in 110 cities as of February 28, 2021.
- Quarterly Results:
Net Revenues up by 58.9% Year-Over-Year for the Fourth Fiscal Quarter
Non-GAAP Loss from Operations was US$216.9 million, compared to Non-GAAP Loss
from Operations of US$8.4 million in the Same Period of Prior Year
Total Student Enrollments of Normal Priced Long-term Course up by 44.0% Year-OverYear
- Fiscal Year Results:
Net Revenues up by 37.3%
Non-GAAP Loss from Operations was US$233.3 million, compared to Non-GAAP
Income from Operations of US$255.4 million in Fiscal Year 2020
Non-GAAP net income attributable to TAL, which excluded share-based compensation
expenses, was US$89.0 million, compared to non-GAAP net income attributable to TAL of
US$7.7 million in fiscal year 2020
Quarterly Average Student Enrollments of Normal Priced Long-term Course up by
54.4% Year-Over-Year
(Beijing–April 22, 2021)—TAL Education Group (NYSE: TAL) (“TAL” or the “Company”),
a leading K-12 after-school tutoring services provider in China, today announced its
unaudited financial results for the fourth quarter and the fiscal year ended February 28, 2021.
Highlights for the Fourth Quarter of Fiscal Year 2021
- Net revenues increased by 58.9% year-over-year to US$1,362.7 million from US$857.7
million in the same period of the prior year.
- Loss from operations was US$297.2 million, compared to loss from operations of
US$41.3 million in the same period of the prior year.
- Non-GAAP loss from operations, which excluded share-based compensation expenses,
was US$216.9 million, compared to non-GAAP loss from operations of US$8.4 million
in the same period of the prior year.
- Net loss attributable to TAL was US$169.0 million, compared to net loss attributable to
TAL of US$90.1 million in the same period of the prior year.
- Non-GAAP net loss attributable to TAL, which excluded share-based compensation
expenses, was US$88.7 million, compared to non-GAAP net loss attributable to TAL of
US$57.2 million in the same period of the prior year.
- Basic and diluted net loss per American Depositary Share (“ADS”) were both US$0.27.
Non-GAAP basic and diluted net loss per ADS, which excluded share-based
compensation expenses, were both US$0.14. Three ADSs represent one Class A common
share.
- Cash, cash equivalents and short-term investments totaled US$5,937.5 million as of
February 28, 2021, compared to US$2,219.3 million as of February 29, 2020.
- Total student enrollments of normal priced long-term course increased by 44.0% yearover-year to approximately 6,690,950 from approximately 4,646,040 in the same period
of the prior year.
Highlights for the Fiscal Year Ended February 28, 2021
- Net revenues increased by 37.3% year-over-year to US$4,495.8 million from US$3,273.3
million in fiscal year 2020.
- Loss from operations was US$438.2 million, compared to income from operations of
US$137.4 million in fiscal year 2020.
- Non-GAAP loss from operations, which excluded share-based compensation expenses,
was US$233.3 million, compared to non-GAAP income from operations of US$255.4
million in fiscal year 2020.
- Net loss attributable to TAL was US$116.0 million, compared to net loss attributable to
TAL of US$110.2 million in fiscal year 2020.
- Non-GAAP net income attributable to TAL, which excluded share-based compensation
expenses, was US$89.0 million, compared to non-GAAP net income attributable to TAL
of US$7.7 million in fiscal year 2020.
- Basic and diluted net loss per ADS were both US$0.19. Non-GAAP basic and diluted net
income per ADS, excluding share-based compensation expenses, were US$0.15 and
US$0.14, respectively.
- Average student enrollments of normal priced long-term course per quarter during fiscal
year 2021 increased by 54.4% year-over-year to approximately 4,669,140 from
approximately 3,023,840 in fiscal year 2020.
- Total physical network increased from 871 learning centers in 70 cities as of February 29,
2020 to 1,098 learning centers in 110 cities as of February 28, 2021.
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