Youdao, Inc. announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2024. For fiscal year 2024, Youdao achieved its first-ever full-year profitability, reporting an income from operations of RMB148.8 million (US$20.4 million), a significant turnaround from a loss of RMB466.3 million in 2023.
Non-GAAP net income attributable to ordinary shareholders was RMB104.8 million (US$14.4 million), compared to a non-GAAP net loss of RMB475.4 million in 2023. Total net revenues for 2024 increased by 4.4% year-over-year to RMB5.6 billion (US$770.7 million).
This growth was primarily driven by online marketing services, which surged by 48.3% year-over-year to RMB2.0 billion, and the continued success of AI-driven subscription services, which saw sales increase over 130% year-over-year in Q4 2024. The Youdao Lingshi retention rate also surpassed 70% in the fourth quarter, demonstrating enhanced customer loyalty. Youdao's 'AI Native' strategy, integrating AI across its business lines, is central to its enhanced profitability and customer loyalty.
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