Business UpdateApr 26, 2026, 05:18 AM
COE Reports Consecutive Net Losses, Negative Equity
AI Summary
51Talk Online Education Group reported net losses of $15.0M in 2023, $7.3M in 2024, and $16.9M in 2025, accumulating a deficit of $370.4M by December 31, 2025. The company also had negative shareholders' equity of $31.3M and current liabilities exceeding current assets by $35.0M. This financial performance follows a strategic shift to international markets after divesting its China Mainland Business in June 2022 due to regulatory changes.
Key Highlights
- COE incurred a net loss of $15.0M in 2023.
- COE incurred a net loss of $7.3M in 2024.
- COE incurred a net loss of $16.9M in 2025.
- Accumulated deficit reached $370.4M as of December 31, 2025.
- Shareholders' equity was negative $31.3M as of December 31, 2025.
- Current liabilities exceeded current assets by $35.0M as of December 31, 2025.
- International sales and marketing expenses increased to $62.3M in 2025 from $23.6M in 2023.
- Company divested China Mainland Business in June 2022, shifting focus to international markets.