DAO
Youdao Inc
NYSE: DAO · CONSUMER DEFENSIVE · EDUCATION & TRAINING SERVICES
$11.60
+3.20% today
Updated 2026-05-06
Market cap
$1.30B
P/E ratio
82.69
P/S ratio
0.22x
EPS (TTM)
$0.13
Dividend yield
—
52W range
$8 – $13
Volume
0.1M
Youdao Inc (DAO) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $444.28M | $760.13M | $1.30B | $3.17B | $3.96B | $5.10B | $5.39B | $5.71B | $5.91B |
| Revenue growth (YoY) | — | +71.1% | +71.7% | +142.7% | +25.1% | +28.7% | +5.6% | +5.9% | +3.6% |
| Cost of revenue | $286.42M | $535.23M | $934.26M | $1.71B | $2.00B | $2.47B | $2.62B | $2.92B | $3.29B |
| Gross profit | $157.87M | $224.91M | $370.62M | $1.45B | $1.96B | $2.63B | $2.77B | $2.79B | $2.62B |
| Gross margin | 35.5% | 29.6% | 28.4% | 45.9% | 49.5% | 51.6% | 51.4% | 48.9% | 44.3% |
| R&D | $129.74M | $191.20M | $275.37M | $424.59M | $599.51M | $817.91M | $743.26M | $547.65M | $514.23M |
| SG&A | $22.48M | $38.18M | $73.29M | $138.46M | $190.30M | $229.21M | $222.00M | $187.09M | $196.96M |
| Operating income | $-126.77M | $-227.68M | $-600.92M | $-1.81B | $-874.99M | $-788.29M | $-466.26M | $150.93M | $221.31M |
| Operating margin | -28.5% | -30.0% | -46.1% | -57.0% | -22.1% | -15.5% | -8.7% | 2.6% | 3.7% |
| EBITDA | $-122.75M | $-161.08M | $-590.34M | $-1.79B | $-852.57M | $-649.49M | $-440.06M | $185.71M | $250.26M |
| EBITDA margin | -27.6% | -21.2% | -45.2% | -56.5% | -21.5% | -12.7% | -8.2% | 3.3% | 4.2% |
| EBIT | $-126.00M | $-167.72M | $-600.92M | $-1.81B | $-876.30M | $-692.28M | $-469.49M | $156.51M | $221.31M |
| Interest expense | $28.78M | $38.00M | $12.43M | $31.21M | $31.23M | $46.41M | $69.46M | $74.13M | $61.26M |
| Income tax | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $-130.22M | $-248.55M | $-601.46M | $-1.75B | $-982.76M | $-739.80M | $-549.86M | $83.38M | $107.35M |
| Net income growth (YoY) | — | -90.9% | -142.0% | -191.5% | +43.9% | +24.7% | +25.7% | +115.2% | +28.7% |
| Profit margin | -29.3% | -32.7% | -46.1% | -55.4% | -24.8% | -14.5% | -10.2% | 1.5% | 1.8% |