Yalla reports Q1 EPS 20c vs. 17c last year
Reports Q1 revenue $83.9M vs. $78.7M last year. Average MAUs increased by 17.9% to 44.6 million in the first quarter of 2025 from 37.8 million in the first quarter of 2024. The number of paying users decreased by 8.0% to 11.8 million in the first quarter of 2025 from 12.8 million in the first quarter of 2024. 'We kicked off 2025 with a strong first quarter. Even with the impact of Ramadan, which fell entirely within the first quarter this year, our revenues reached US$83.9 million, up 6.5% year over year and beating the upper end of our guidance,' said Mr. Yang Tao, Founder, Chairman and CEO of Yalla (YALA). 'Furthermore, without increasing selling and marketing expenses, we drove a 17.9% increase in average MAUs to 44.6 million, mainly attributable to our refined user acquisition strategy tailored for Ramadan, as well as our AI-driven traffic acquisition optimizations. Our product portfolio is thriving and primed for expansion. We completed first-round product testing on an exciting Match-3 title slated for launch in the third quarter of 2025 and boast a robust lineup of promising mid-core games in our pipeline. To deepen our commitment to returning shareholder value, we plan to further accelerate our share buyback program, raising this year's target by an additional US$22 million to a total of US$50 million for 2025. Looking ahead, we will remain dedicated to harnessing technological innovation as our engine and user needs as our compass, expanding the boundaries of MENA's digital ecosystem as we realize our vision of building the largest destination for online social networking and entertainment activities in MENA.'
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QuantaSing Announces Unaudited Financial Results for the Third Quarter of Fiscal Year 2025
BEIJING, June 06, 2025 (GLOBE NEWSWIRE) -- QuantaSing Group Limited (NASDAQ: QSG) ('QuantaSing' or the 'Company'), a leading lifestyle solution provider, today announced its unaudited financial results for the third quarter of the fiscal year ending June 30, 2025 (the 'third quarter of FY 2025', which refers to the quarter from January 1, 2025 to March 31, 2025). Business and Financial Highlights for the Third Quarter of FY 2025 Revenues for the third quarter of FY 2025 were RMB570.7 million (US$78.6 million), representing a decrease of 21.5% from the second quarter of the fiscal year ending June 30, 2025 (the 'second quarter of FY 2025') and a decrease of 39.6% from the third quarter of the fiscal year ended June 30, 2024 (the 'third quarter of FY 2024'). Gross billings of individual online learning services1 for the third quarter of FY 2025 were RMB515.6 million (US$71.0 million), representing a decrease of 5.6% from the second quarter of FY 2025 and a decrease of 47.5% from the third quarter of FY 2024. Net income for the third quarter of FY 2025 was RMB41.1 million (US$5.7 million), representing a decrease of 67.5% from the second quarter of FY 2025 and an increase of 181.2% from the third quarter of FY 2024. Adjusted net income2 for the third quarter of FY 2025 was RMB37.8 million (US$5.2 million), representing a decrease of 71.3% from the second quarter of FY 2025 and an increase of 18.5% from the third quarter of FY 2024. Total registered users increased by 19.9% to approximately 145.0 million as of March 31, 2025, from 121.0 million as of March 31, 2024. Paying learners was approximately 0.3 million in the third quarter of FY 2025. Company Highlight for the Third Quarter of FY 2025 Completed acquisition of 61% equity interest in Shenzhen Yiqi Culture Co., Ltd. ("Letsvan") on March 31, 2025 for a total cash consideration of RMB235.0 million through a multi-step transaction. Results of operations of Letsvan were included in consolidated financials of the Company beginning April 1, 2025. The acquired assets and liabilities of Letsvan are included at fair value in the Company's consolidated balance sheet as of March 31, 2025. Mr. Peng Li, Chairman and Chief Executive Officer of QuantaSing, commented, 'Our third quarter results reflect our strategic pivot toward product-driven business models that create long-term value. The acquisition of Letsvan marks a significant milestone in our expansion into the pop toys market, a sector with strong growth potential that perfectly aligns with our brand-first philosophy. The early success of our WAKUKU IP, including the recent Fox and Rabbit collection launch, validates our approach of pairing strong product development capabilities with efficient go-to-market strategies. As we integrate Letsvan's operations, we're applying our test-and-scale methodology to build a global presence in this resilient market segment. We aim to create businesses where brand strength and product excellence drive sustainable growth, rather than simply pursuing traffic-driven metrics.' Mr. Dong Xie, Chief Financial Officer of QuantaSing, added, 'Our financial performance this quarter underscores our commitment to disciplined capital allocation during this transformation phase. While revenue moderated to RMB570.7 million as we shifted resources away from traffic-driven businesses, we've maintained strong cash generation across our businesses. Our ROI-focused assessment methodology has allowed us to exit underperforming areas while preserving resources for high-potential opportunities. With our healthy cash position, we have the flexibility to support both our existing operations and our strategic initiatives in the pop toys space. Though we anticipate some near-term profitability fluctuations as we optimize our business mix, our financial foundation remains robust as we execute this strategic evolution.' Financial Results for the Third Quarter of FY 2025 Revenues Revenues were RMB570.7 million (US$78.6 million) in the third quarter of FY 2025, compared to RMB945.6 million in the third quarter of FY 2024. The change reflects the Company's deliberate shift from traffic-driven growth to high-quality growth. Revenues from individual online learning services decreased by 43.6% year over year to RMB467.2 million (US$64.4 million) in the third quarter of FY 2025, from RMB828.1 million in the third quarter of FY 2024. This decrease was primarily due to a decrease of RMB268.3 million (US$37.0 million) in revenues from skills upgrading courses, a decline of RMB74.1 million (US$10.2 million) in revenues from financial literacy courses and a decline of RMB18.5 million (US$2.5 million) in revenues from recreation and leisure courses. Revenues from enterprise services were RMB48.1 million (US$6.6 million) in the third quarter of FY 2025, compared to RMB65.1 million in the third quarter of FY 2024, representing a year-over-year change of 26.1%. The decline was primarily driven by reduced marketing services to enterprise customers. Revenues from consumer business3 were RMB48.7 million (US$6.7 million) in the third quarter of FY 2025, compared to RMB49.4 million in the third quarter of FY 2024. The slight change was primarily attributable to the decline in baijiu revenue, partially offset by the modest increase in wellness products revenue. Revenues from others3 were RMB6.7 million (US$0.9 million) in the third quarter of FY 2025, compared to RMB3.0 million in the third quarter of FY 2024, primarily due to revenue from the Company's newly initiated business. Cost of revenues Cost of revenues was RMB96.6 million (US$13.3 million) in the third quarter of FY 2025, compared to RMB145.8 million in the third quarter of FY 2024, representing a 33.8% decrease. The decrease was primarily due to reduced labor outsourcing costs of RMB22.1 million (US$3.1 million), decreased procurement costs of RMB9.6 million (US$1.3 million) and lower staff costs of RMB5.1 million (US$0.7 million). Sales and marketing expenses Sales and marketing expenses were RMB395.2 million (US$54.5 million) in the third quarter of FY 2025, compared to RMB729.6 million in the third quarter of FY 2024, representing a decrease of 45.8%. The decrease was mainly due to a reduction in marketing and promotion expenses of RMB265.1 million (US$36.5 million), labor outsourcing costs of RMB46.4 million (US$6.4 million), and staff costs of RMB7.9 million (US$1.1 million), which included a decrease in share-based compensation expenses of RMB2.1 million (US$0.3 million). Research and development expenses Research and development expenses were RMB20.9 million (US$2.9 million) in the third quarter of FY 2025, compared to RMB38.8 million in the third quarter of FY 2024, representing a decrease of 46.2%. The decrease was primarily due to lower staff costs of RMB16.0 million (US$2.2 million). General and administrative expenses General and administrative expenses were RMB25.0 million (US$3.5 million) in the third quarter of FY 2025, compared to RMB36.4 million in the third quarter of FY 2024, representing a decrease of 31.2%. The decrease was primarily due to lower staff costs of RMB8.0 million (US$1.1 million), which included a decrease in share-based compensation expenses of RMB5.5 million (US$0.8 million). Remeasurement gain of previously held equity interests in connection with step acquisitions Remeasurement gain of previously held equity interests in connection with step acquisitions were RMB8.1 million (US$1.1 million) in the third quarter of FY 2025, reflecting the fair value adjustment of initial investments in Letsvan before obtaining control. Details of the acquisition can be found in the Recent Developments section of this report. Others, net Others, net were RMB15.4 million (US$2.1 million) in the third quarter of FY 2025, compared to RMB7.7 million in the third quarter of FY 2024, primarily driven by the increased fair value gains in one of the Company's long-term investments. Net income and adjusted net income Net income was RMB41.1 million (US$5.7 million) in the third quarter of FY 2025, compared to RMB14.6 million in the third quarter of FY 2024. Adjusted net income was RMB37.8 million (US$5.2 million) in the third quarter of FY 2025, compared to RMB31.9 million in the third quarter of FY 2024. Earnings per share and adjusted earnings per share4 Basic and diluted net income per share were both RMB0.25 (US$0.03) in the third quarter of FY 2025, compared to basic and diluted net income per share of RMB0.09 in the third quarter of FY 2024. Basic and diluted adjusted net income per share were RMB0.23 (US$0.03), in the third quarter of FY 2025, compared to RMB0.19 in the third quarter of FY 2024. Balance Sheet As of March 31, 2025, the Company had cash and cash equivalents, restricted cash and short-term investments of RMB1,134.9 million (US$156.4 million), compared with RMB1,026.3 million as of June 30, 2024. Recent Developments Investments in Letsvan On March 24, 2025, the Company announced that it entered into definitive agreements to invest in Shenzhen Yiqi Culture Co., Ltd., a PRC-based company specializing in IP incubation, copyright commercialization, and the promotion and sales of pop toys. The transaction marks the Company's strategic entry into the pop toys market and broader consumer goods sector. Upon the completion of the investments in March 2025, Letsvan became a controlled subsidiary of the Company. Letsvan currently operates a number of established IPs, including "WAKUKU", "ZIYULI", "FUNII", "FIILA" and "PIDOL", with distribution channels spanning both online and offline platforms across China and Southeast Asian markets. Letsvan's current growth strategy encompasses three key areas: strengthening collaborations with major retail partners to enhance IP influence and expand sales, developing self-operated retail locations including a recently opened pop-up store at Chaoyang Joy City in Beijing, and building comprehensive online brand and sales capabilities. International expansion initiatives are underway. Letsvan has already established its footprints in certain Southeast Asian markets and has been exploring opportunities in other overseas markets including the United States. With respect to IPs, Letsvan continues to strengthen internal product incubation and operational capabilities, partner with third-party artists, and collaborate with established IPs to diversify its product portfolio. Recent product launches include the "WAKUKU Fox and Bunny Trick or Treat", which commenced offline distribution on May 17, 2025, followed by online channel availability on May 20, 2025. The Beijing Chaoyang Joy City pop-up store launch has generated favorable user response and increased product visibility in the market. 2024 Share Repurchase Program On June 11, 2024, the Company announced that the Board had approved a share repurchase program of up to US$20.0 million of the Company's Class A ordinary shares in the form of ADSs for a 12-month period beginning on June 11, 2024 and ending on June 10, 2025 (the '2024 Share Repurchase Program'). As of March 31, 2025, a total of 1.7 million ADSs had been repurchased for an aggregate consideration of US$3.6 million under the 2024 Share Repurchase Program. 2025 Share Repurchase Program On June 6, 2025, the Company announced that the Board had approved a new share repurchase program of up to US$20.0 million of the Company's Class A ordinary shares in the form of ADSs for a purchase period beginning from June 11, 2025 and ending on June 30, 2026 (the '2025 Share Repurchase Program'). Repurchases under the 2025 Share Repurchase Program may be made from time to time through open market transactions at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means. The repurchases will be subject to all applicable rules and regulations, including Rule 10b-18 and Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, as well as the Company's insider trading policy. The number of ADSs repurchased and the timing of repurchases will also depend on a number of factors, including, but not limited to, price, trading volume and general market conditions, along with the Company's working capital requirements, general business conditions and other factors. The Board will review the 2025 Share Repurchase Program periodically, and may authorize adjustment of its terms and size or suspend or discontinue the program. The Company plans to fund the repurchases from its existing cash balance. Conference Call Information The Company's management team will hold an earnings conference call at 07:00 A.M. Eastern Time on Friday, June 6, 2025 (07:00 P.M. Beijing Time on the same day) to discuss the financial results. Listeners may access the call by dialing the following numbers: International: 1-412-902-4272 United States Toll Free: 1-888-346-8982 Mainland China Toll Free: 4001-201203 Hong Kong Toll Free: 800-905945 Conference ID: QuantaSing Group Limited The replay will be accessible through June 13, 2025 by dialing the following numbers: International: 1-412-317-0088 United States Toll Free: 1-877-344-7529 Replay Access Code: 3611954 A live and archived webcast of the conference call will be available at the Company's investor relations website at Non-GAAP Financial Measures To supplement the Company's consolidated financial statements, which are prepared and presented in accordance with U.S. GAAP, the Company uses gross billings of individual online learning services, adjusted net income and basic and diluted adjusted net income per share as its non-GAAP financial measures. Gross billings of individual online learning services for a specific period represents revenues of the Company's individual online learning services net of the changes in deferred revenues in such period, further adjusted by value-added tax in such period. Adjusted net income represents net income excluding share-based compensation expenses and remeasurement gain of previously held equity interests inconnection with step acquisitions. Basic and diluted adjusted net income per share represents adjusted net income attributable to QuantaSing Group Limited divided by weighted average number of ordinary shares outstanding during the periods used in computing adjusted net income per share, basic and diluted. The Company believes that the non-GAAP financial measures provide useful information about the Company's results of operations, enhance the overall understanding of the Company's past performance and future prospects and allow for greater visibility with respect to key metrics used by the Company's management in its financial and operational decision-making. The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools, and when assessing the Company's operating performance, investors should not consider them in isolation, or as a substitute for revenue, net income, net income per share, basic and diluted or other consolidated statements of operations data prepared in accordance with U.S. GAAP. The Company's definition of non-GAAP financial measures may differ from those of industry peers and may not be comparable with their non-GAAP financial measures. The Company mitigates these limitations by reconciling the non-GAAP financial measures to the most comparable U.S. GAAP performance measures, all of which should be considered when evaluating the Company's performance. For more information on these non-GAAP financial measures, please see the table captioned 'QuantaSing Group Limited Unaudited Reconciliation of GAAP and Non-GAAP Results' near the end of this release. Exchange Rate Information This announcement contains translations of certain Renminbi ('RMB') amounts into U.S. dollars ('US$') at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from Renminbi to U.S. dollars were made at the rate of RMB7.2567 to US$1.00, the exchange rate on March 31, 2025, set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the Renminbi or U.S. dollars amounts referred to could be converted into U.S. dollars or Renminbi, as the case may be, at any particular rate or at all. Safe Harbor Statements This announcement contains forward-looking statements within the meaning of Section 27A of Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended and the Private Securities Litigation Reform Act of 1955. All statements other than statements of historical or current fact included in this press release are forward-looking statements, including but not limited to statements regarding QuantaSing's financial outlook, beliefs and expectations. These statements can be identified by terminology such as 'will,' 'expects,' 'anticipates,' 'future,' 'intends,' 'plans,' 'believes,' 'estimates,' 'potential,' 'continue,' 'ongoing,' 'targets,' 'guidance' and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the 'SEC'), in its annual report to shareholders, in press releases, and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company's growth strategies; its future business development, results of operations and financial condition; its ability to attract and retain new users and learners and to increase the spending and revenues generated from users and learners; its ability to maintain and enhance the recognition and reputation of its brand; its expectations regarding demand for and market acceptance of its services and products; the expected growth, trends and competition in the markets that the Company operates in; changes in its revenues and certain cost or expense items; PRC governmental policies and regulations relating to the Company's business and industry, general economic and political conditions in China and globally, and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks, uncertainties, or factors is included in the Company's filings with the SEC, including, without limitation, the final prospectus related to the IPO filed with the SEC dated January 24, 2023. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and the Company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof. About QuantaSing Group Limited QuantaSing is a leading lifestyle solution provider that offers engaging, affordable and accessible online and offline services, as well as consumer products in selected areas that address senior users' wellness aspirations. QuantaSing has expanded into the pop toys sector and continues to strategically diversify its portfolio by capturing opportunities in promising consumer sectors while maintaining financial discipline. For more information, please visit: Contact Investor RelationsLeah GuoQuantaSing Group LimitedEmail: ir@ +86 (10) 6493-7857 Robin Yang, PartnerICR, LLCEmail: +1 (212) 537-0429 _________________________________1 Gross billings of individual online learning services is a non-GAAP financial measure. For a reconciliation of revenues of individual online learning services to gross billings of individual online learning services, see the 'Non-GAAP Financial Measures' section and the table captioned 'QuantaSing Group Limited Unaudited Reconciliation of GAAP and Non-GAAP Results' below.2 Adjusted net income is a non-GAAP financial measure. For a reconciliation of net income to adjusted net income, see the 'Non-GAAP Financial Measures' section and the table captioned 'QuantaSing Group Limited Unaudited Reconciliation of GAAP and Non-GAAP Results' below.3 Effective from the fourth quarter of FY 2024, the Company has introduced 'Revenues from Consumer Business' as a separate line item. This revenue was previously included in 'Revenues from Others'. The historical revenues presentation has been conformed to the current presentation.4 Basic and diluted adjusted net income per share are non-GAAP financial measures. For a reconciliation of basic and diluted net income per share to basic and diluted adjusted net income per share, see the 'Non-GAAP Financial Measures' section and the table captioned 'QuantaSing Group Limited Unaudited Reconciliation of GAAP and Non-GAAP Results' GROUP LIMITEDUNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS(Amounts in thousands, except for share and per share data) As of June 30,2024 March 31,2025 March 31,2025 RMB RMB US$ ASSETS Current assets: Cash and cash equivalents 779,931 985,677 135,830 Restricted cash 160 675 93 Short-term investments 246,195 148,532 20,468 Accounts receivable, net 16,676 37,392 5,153 Amounts due from related parties 4,488 489 67 Inventory, net 6,345 28,120 3,875 Prepayments and other current assets 275,549 173,582 23,920 Total current assets 1,329,344 1,374,467 189,406 Non-current assets: Property and equipment, net 6,569 11,571 1,595 Long-term investments 9,010 44,428 6,122 Intangible assets, net - 68,973 9,505 Operating lease right-of-use assets 58,889 29,479 4,062 Deferred tax assets 847 914 126 Goodwill - 187,598 25,852 Other non-current assets 21,360 5,177 713 Total non-current assets 96,675 348,140 47,975 TOTAL ASSETS 1,426,019 1,722,607 237,381 LIABILITIES Current liabilities: Short-term Borrowings - 14,500 1,998 Accounts payables 62,066 55,219 7,609 Accrued expenses and other current liabilities 190,508 186,084 25,643 Income tax payable 20,399 53,565 7,381 Contract liabilities, current portion 385,227 310,189 42,745 Advance from customers 162,257 148,332 20,441 Operating lease liabilities, current portion 49,099 30,837 4,249 Total current liabilities 869,556 798,726 110,066 Non-current liabilities: Contract liabilities, non-current portion 11,365 33,495 4,616 Operating lease liabilities, non-current portion 16,989 3,123 430 Deferred tax liabilities 11,625 42,269 5,825 Total non-current liabilities 39,979 78,887 10,871 TOTAL LIABILITIES 909,535 877,613 120,937QUANTASING GROUP LIMITEDUNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS- continued(Amounts in thousands, except for share and per share data) As of June 30,2024 March 31,2025 March 31,2025 RMB RMB US$ MEZZANINE EQUITY Non-controlling interests with liquidation preferences - 40,999 5,650 SHAREHOLDERS' EQUITY Class A ordinary shares 81 81 11 Class B ordinary shares 34 34 5 Treasury stock (109,257 ) (41,898 ) (5,774 ) Additional paid-in capital 1,192,474 1,069,620 147,398 Accumulated other comprehensive income 17,313 18,491 2,548 Accumulative deficit (584,161 ) (335,573 ) (46,243 ) TOTAL QUANTASING GROUP LIMITED SHAREHOLDERS' EQUITY 516,484 710,755 97,945 Non-controlling interests - 93,240 12,849 TOTAL SHAREHOLDERS' EQUITY 516,484 803,995 110,794 TOTAL LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY 1,426,019 1,722,607 237,381QUANTASING GROUP LIMITEDUNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME(Amounts in thousands, except for shares and per share data) For the Three MonthsEnded March 31, For the Nine MonthsEnded March 31, 2024 2025 2025 2024 2025 2025 RMB RMB US$ RMB RMB US$ Revenues 945,570 570,706 78,645 2,795,248 2,107,757 290,457 Cost of revenues (145,848 ) (96,556 ) (13,306 ) (409,058 ) (353,516 ) (48,716 ) Gross Profit 799,722 474,150 65,339 2,386,190 1,754,241 241,741 Operating expenses: Sales and marketing expenses (729,620 ) (395,175 ) (54,457 ) (2,006,884 ) (1,317,206 ) (181,516 ) Research and development expenses (38,840 ) (20,891 ) (2,879 ) (123,655 ) (77,325 ) (10,656 ) General and administrative expenses (36,390 ) (25,049 ) (3,452 ) (114,211 ) (86,194 ) (11,878 ) Total operating expenses (804,850 ) (441,115 ) (60,788 ) (2,244,750 ) (1,480,725 ) (204,050 ) (Loss)/Income from operations (5,128 ) 33,035 4,551 141,440 273,516 37,691 Other income: Interest income 2,513 880 121 8,369 4,040 557 Remeasurement gain of previously held equity interests in connection with step acquisitions - 8,109 1,117 - 8,109 1,117 Others, net 7,685 15,400 2,122 22,163 31,418 4,330 Income before income tax 5,070 57,424 7,911 171,972 317,083 43,695 Income tax benefit/(expense) 9,560 (16,280 ) (2,243 ) 16,948 (68,495 ) (9,439 ) Net income 14,630 41,144 5,668 188,920 248,588 34,256 Net loss attributable to noncontrolling interests - 1 - - 1 - Net income attributable to QuantaSing Group Limited 14,630 41,145 5,668 188,920 248,589 34,256 Other comprehensive income/(loss) Foreign currency translation adjustments, net of nil tax 423 (289 ) (40 ) (4,954 ) 1,178 162 Total other comprehensive income/(loss) 423 (289 ) (40 ) (4,954 ) 1,178 162 Total comprehensive income 15,053 40,855 5,628 183,966 249,766 34,418 Total comprehensive loss attributable to noncontrolling interests - 1 - - 1 - Comprehensive income attributable to QuantaSing Group Limited 15,053 40,856 5,628 183,966 249,767 34,418 Net income per ordinary share - Basic 0.09 0.25 0.03 1.14 1.55 0.21 - Diluted 0.09 0.25 0.03 1.10 1.52 0.21 Weighted average number of ordinary shares used in computing net income per share - Basic 164,753,256 162,791,862 162,791,862 166,399,349 160,479,027 160,479,027 - Diluted 170,890,581 165,216,173 165,216,173 171,089,530 163,949,787 163,949,787 Share-based compensation expenses included in Cost of revenues (2,878 ) (1,431 ) (197 ) (9,945 ) (5,214 ) (719 ) Sales and marketing expenses (2,779 ) (642 ) (88 ) 8,678 (1,540 ) (212 ) Research and development expenses (3,599 ) (167 ) (23 ) (10,611 ) (2,474 ) (341 ) General and administrative expenses (8,039 ) (2,571 ) (354 ) (28,961 ) (8,073 ) (1,112 ) QUANTASING GROUP LIMITEDUNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS(Amounts in thousands, except for shares and per share data) The following table below sets forth a reconciliation of revenues to gross billings for the periods indicated: For the Three MonthsEnded March 31, For the Nine MonthsEnded March 31, 2024 2025 2025 2024 2025 2025 RMB RMB US$ RMB RMB US$ Revenues of individual online learning services: 828,127 467,247 64,388 2,457,588 1,777,552 244,953 Add: value-added tax 52,986 27,919 3,847 147,665 101,969 14,052 Add: ending deferred revenues(1) 744,320 461,026 63,531 744,320 461,026 63,531 Less: beginning deferred revenues(1) (643,929 ) (440,632 ) (60,721 ) (661,360 ) (565,030 ) (77,863 ) Gross billings of individual online learning services 981,504 515,560 71,045 2,688,213 1,775,517 244,673 (1) Deferred revenues include contract liabilities, advance from customers, and refund liability of individual online learning services included in 'accrued expenses and other current liabilities'.QUANTASING GROUP LIMITEDUNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS - continued(Amounts in thousands, except for shares and per share data) The following table below sets forth a reconciliation of net income to adjusted net income and basic and diluted net income per share to basic and diluted adjusted net income per share for the periods indicated: For the Three MonthsEnded March 31, For Nine MonthsEnded March 31, 2024 2025 2025 2024 2025 2025 RMB RMB US$ RMB RMB US$ Net income 14,630 41,144 5,668 188,920 248,588 34,256 Add: Share-based compensation expenses 17,295 4,811 662 40,839 17,301 2,384 Less: Remeasurement gain of previously held equity interests in connection with step acquisitions - (8,109 ) (1,117 ) - (8,109 ) (1,117 ) Adjusted net income 31,925 37,846 5,213 229,759 257,780 35,523 Attributable to noncontrolling interests - 1 - - 1 - Adjusted net income attributable to QuantaSing Group Limited 31,925 37,847 5,213 229,759 257,781 35,523 Weighted average number of ordinary shares used in computing net income per share - Basic 164,753,256 162,791,862 162,791,862 166,399,349 160,479,027 160,479,027 - Diluted 170,890,581 165,216,173 165,216,173 171,089,530 163,949,787 163,949,787 Weighted average number of ordinary shares used in computing adjusted net income per share - Basic 164,753,256 162,791,862 162,791,862 166,399,349 160,479,027 160,479,027 - Diluted 170,890,581 165,216,173 165,216,173 171,089,530 163,949,787 163,949,787 Net income per ordinary share - Basic 0.09 0.25 0.03 1.14 1.55 0.21 - Diluted 0.09 0.25 0.03 1.10 1.52 0.21 Non-GAAP adjustments to net income per ordinary share - Basic 0.10 (0.02 ) 0.00 0.24 0.06 0.01 - Diluted 0.10 (0.02 ) 0.00 0.24 0.05 0.01 Adjusted net income per ordinary share - Basic 0.19 0.23 0.03 1.38 1.61 0.22 - Diluted 0.19 0.23 0.03 1.34 1.57 0.22Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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North America Non-Lethal Weapons Market Size, Growth Trends and Company Strategies 2025-2033 Featuring Byrna Technologies, General Dynamics, Moog and More
Key users include law enforcement, military, and private security firms, relying on products like rubber bullets, tear gas, and Tasers. Despite challenges like ethical concerns and regulatory scrutiny, advancements in AI and remote operations propel the market forward. North American Non-Lethal Weapons Market Dublin, June 06, 2025 (GLOBE NEWSWIRE) -- The "North America Non-Lethal Weapons Market Size and Growth Trends and Companies 2025-2033" has been added to offering. The North America Non-Lethal Weapons Market is expected to reach US$ 4.41 billion by 2033 from US$ 2.86 billion in 2024, with a CAGR of 4.92% from 2025 to 2033. Due to significant defense spending, technology developments, and growing demand from the military and law enforcement, North America presently controls the majority of the market. North America Non-Lethal Weapons Industry Overview Driven by the growing need for crowd control, peacekeeping, and public safety measures, the non-lethal weapons business in North America is an essential part of the larger defense and law enforcement sector. These weapons are essential in situations when employing fatal force is either improper or prohibited by law since they are intended to incapacitate or dissuade people without causing irreversible injury. The military, law enforcement, border security, and private security companies are the main users. Important product categories include rubber bullets, tear gas, acoustic or directed energy devices, and conducted energy weapons (like Tasers). Increased expenditures in updating law enforcement infrastructure, social unrest, and geopolitical tensions all have a significant impact on the market growth in this industry. With the help of substantial government contracts and R&D funding, American businesses like Axon Enterprise, Combined Systems, and Raytheon Technologies control the area market. Moderate growth is also been observed in Canada, especially in the use of less-lethal instruments into community police strategies. Innovation and operational efficacy are being further pushed by technological developments like AI-enabled targeting and remotely controlled non-lethal drones. The sector still has to deal with issues including ethical dilemmas, public outrage over abuse, and regulatory scrutiny despite its development trajectory. Manufacturers and authorities are responding to calls for accountability and transparency by enhancing training procedures and introducing usage tracking. Furthermore, as civil rights organizations call for more stringent regulation, the regulatory landscape is becoming increasingly complicated. However, the North American market is anticipated to continue growing steadily over the next ten years due to the growing emphasis on de-escalation and non-lethal engagement, especially as social movements and urbanization put more pressure on law enforcement to use humane control techniques. Through intensive research, development, and use of cutting-edge crowd control and defense technologies, the United States plays a crucial role in the market for non-lethal weapons. To improve operating capabilities while reducing deaths, the U.S. Department of Defense (DoD) and law enforcement organizations make significant investments in non-lethal options such as chemical agents, directed-energy weapons, and acoustic devices. Innovation is fueled by ongoing technical improvements at top defense contractors including Raytheon Technologies, General Dynamics, and Axon Enterprise. For example, Byrna Technologies reported in November 2024 that it was selling more than 500,000 Byrna SD personal security devices, which are portable CO2-powered launchers that provide less-lethal options for the personal defense and security industries. The United States' influence in international military plans is further strengthened by its exports of non-lethal weaponry, which aid allies in riot control, border security, and peacekeeping operations. Growth Drivers for the North America Non-Lethal Weapons Market Rising Incidents of Civil Unrest and Protests Civil unrest, public demonstrations, and social movements have significantly increased in North America in recent years; these events are frequently brought on by political, racial, and economic concerns. Law enforcement organizations are under more pressure than ever to control crowds without resorting to deadly force as a result of this spike. Non-lethal weapons like pepper spray, rubber bullets, tear gas, and Tasers are vital resources for defusing tense situations without causing irreversible damage. In keeping with the increasing legal and popular demands for compassionate police, these technologies provide a tactical edge in upholding public order. As a result, the market for non-lethal weaponry in North America is expanding due in large part to the growing desire for non-lethal options. Modernization of Military and Law Enforcement Agencies To address changing security threats, federal, state, and municipal governments in the United States and Canada are aggressively updating their armed forces and law enforcement organizations. Adopting cutting-edge non-lethal weapon systems that provide increased accuracy, efficacy, and adherence to human rights norms is a crucial component of this modernization. These devices are being included into counterterrorism, border security, and riot control operations when the use of lethal force would not be suitable. The need for these technologies is being sustained by ongoing investments in defense modernization and public safety initiatives, which are backed by stable government budgets. Non-lethal weapons are becoming crucial parts of modern security plans across North America as agencies look to increase operational preparedness while reducing injury. Technological Advancements The market for non-lethal weaponry in North America is expanding due in large part to technological advancement. The possibilities of non-lethal platforms are being revolutionized by developments in smart systems, acoustic deterrents, and directed energy weapons. In order to improve accuracy, flexibility, and safety in a variety of operational contexts, businesses are progressively using artificial intelligence, data analytics, and remote operation capabilities. These developments increase the effectiveness of non-lethal instruments for urban operations, tactical reaction, and crowd control. Development and deployment are moving more quickly because to government-supported R&D programs and strategic alliances with defense firms. North American manufacturers have a significant competitive edge in the worldwide market thanks to this thriving innovation environment, which also positions the area as a leader in next-generation non-lethal weapon technology. Challenges in the North America Non-Lethal Weapons Market Regulatory and Legal Constraints Both domestic legislation and international human rights frameworks strictly limit the use of non-lethal weapons in North America. To guarantee proper usage, especially in civilian contexts, law enforcement organizations must manage intricate legal obligations. Lawsuits, internal investigations, and public outcry can follow misuse or events involving excessive force, such as the incorrect use of chemical agents or Tasers. Procurement and training initiatives may be slowed down by agencies' careful implementation techniques, which are frequently prompted by these legal issues. More supervision, reporting, and accountability are also being pushed for by changing legal requirements and civil rights activism. The wider adoption and operational flexibility of non-lethal weapon systems throughout the area are therefore severely hampered by regulatory and legal restrictions. High Costs and Budget Limitations High development and deployment costs are associated with advanced non-lethal weapon systems, especially those that use technologies like directed energy, artificial intelligence, and remote operation. For smaller police agencies and local governments with tighter resources, these advanced instruments frequently necessitate large investments in infrastructure, maintenance, and training. Because of this, adoption is frequently concentrated in government agencies with more funding or in bigger urban regions. Furthermore, obtaining such technology usually involves a drawn-out, bureaucratic procurement process that includes intricate approval processes and multi-level scrutiny. By delaying implementation and lowering non-lethal weapons' overall market penetration, these administrative and financial obstacles might restrict their availability in smaller jurisdictions and impede the expansion of the sector as a whole in North America. Key Attributes Report Attribute Details No. of Pages 200 Forecast Period 2024-2033 Estimated Market Value (USD) in 2024 $2.86 Billion Forecasted Market Value (USD) by 2033 $4.41 Billion Compound Annual Growth Rate 4.9% Regions Covered North America Key Topics Covered1. Introduction2. Research & Methodology3. Executive Summary4. Market Dynamics4.1 Growth Drivers4.2 Challenges5. North America Non-Lethal Weapons Market5.1 Historical Market Trends5.2 Market Forecast6. Market Share Analysis6.1 Product Type6.2 Technology6.3 End Use6.4 Country7. Product Type7.1 Gases and sprays7.2 Grenades7.3 Bullets7.4 Taser Guns7.5 Others8. Technology8.1 Chemical8.2 Electroshock8.3 Mechanical and Kinetic8.4 Acoustic/Light8.5 Others9. End Use9.1 Law Enforcement9.2 Military9.3 Others10. Country10.1 United States10.2 Canada11. Porter's Five Analysis11.1 Bargaining Power of Buyers11.2 Bargaining Power of Suppliers11.3 Degree of Rivalry11.4 Threat of New Entrants11.5 Threat of Substitutes12. SWOT Analysis12.1 Strength12.2 Weakness12.3 Opportunity12.4 Threat13. Company Analysis13.1 Byrna Technologies Inc.13.2 General Dynamics Corporation13.3 Moog Inc.13.4 Raytheon Technologies Corporation13.5 Rheinmetall AG13.6 Textron Inc.13.7 Combined Systems more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment North American Non-Lethal Weapons Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Sign in to access your portfolio
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Japan's ispace fails second lunar landing mission
Japan'sprivate moon mission was aborted on Friday after it was presumed that the unmanned Resilience spacecraft had crashed. Tokyo-based startup ispace had launched the mission in hopes of becoming the first private company outside the United States to achieve a controlled lunar landing. The Resilience spacecraft had begun its final descent, successfully firing its main engine "as planned to begin deceleration," ispace said. Mission control reported that the craft's position was "nearly vertical," but contact was then lost. ispace stated that the spacecraft had likely failed to decelerate sufficiently to reach the speed required for a soft lunar landing. "Based on the currently available data... it is currently assumed that the lander likely performed a hard landing. It is unlikely that communication with the lander will be restored, so it has been decided to conclude the mission," ispace said in a statement. As of 8:00 a.m. on June 6, 2025, mission controllers have determined that it is unlikely that communication with the lander will be restored and therefore completing Success 9 is not achievable. It has been decided to conclude the mission.'Given that there is currently no… — ispace (@ispace_inc) June 6, 2025 Before signing off, the livestream announcers said, "never quit the lunar quest." Less than two minutes before the scheduled landing, the once-celebratory gathering of 500 ispace employees, shareholders, sponsors, and government officials fell into stunned silence as contact with the spacecraft was lost. "Expectations for ispace will not waver," Japanese Prime Minister Shigeru Ishiba posted on X. ispaceによる月面着陸は、残念ながら成功には至りませんが、この挑戦が持つ価値は一時的にできるものではありません。 ispaceに対する期待が揺らぐことはありません。そのためにも、すぐに課題を検証し、次なる飛躍につなげていただきたいと願っています。 — 石破茂 (@shigeruishiba) June 6, 2025 Two years ago, another lunar missionby the company had also ended in a crash. CEO Takeshi Hakamada told reporters he took the second failed attempt "seriously" and intended to use the outcome to inform future missions. He said they had a "strong will to move on, although we have to carefully analyze what happened." Resilience carried a four-wheeled rover built by ispace's Luxembourg subsidiary, along with five external payloads valued at a total of $16 million. The planned landing site was Mare Frigoris, a plain about 900 km (560 miles) from the moon's north pole. Lunar landings remain challenging due to the moon's rugged terrain. To date, only five nations have successfully achieved soft lunar landings: Russia, US, China, India and Japan. Private companies have recently entered the race to the moon, and ispace would have been the third such company to achieve it. The mission wanted to collect two lunar soil samples and sell them to NASA for $5,000 (€4373). In January, Resilience shared a SpaceX rocket launch with Firefly's Blue Ghost lander, which touched down successfully in March. A moon landing attempt by US-based company Intuitive Machines failed in March this year. Edited by: Louis Oelofse
