51Talk (ADR)
Live English courses for children through Air Class and independent tutors.
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Profile
Sells prepaid live English courses, delivered through Air Class by independent tutors, to learners outside mainland China. Revenue is recognized as classes are delivered or credits expire, while the listed Cayman holding company operates through international subsidiaries.
Delivers live, individual English lessons for children and post-secondary learners outside mainland China through the 51Talk platform. Its Classic English Junior and Classic English curricula pair proprietary courseware with a large pool of mostly Filipino independent tutors, delivered in the Air Class web and mobile classroom. The All-round Mandarin Chinese Course extends the offering to children in Hong Kong.
Generates revenue by selling prepaid course credits directly to students and recognizing it as classes are delivered or credits expire. Operations span Asia-Pacific and primarily EMEA markets, using locally adapted curriculum, payments, marketing, and student support. Lesson capacity and cost depend on recruiting, training, and retaining independent tutors; prepaid tuition creates refund and unfulfilled-lesson obligations; the Cayman parent relies on distributions and other funding from subsidiaries across multiple jurisdictions.
Company facts
Key statistics
Year to date −49.6% · Average volume (30d) 32.0K
Analysts
No analyst consensus on record.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jun 12, 2026Q1 FY26 | — | −$0.30 | — | — | $30.6M | — | −2.48% |
| Mar 27, 2026Q4 FY25 | — | −$1.03 | — | — | $30.3M | — | +0.53% |
| Dec 8, 2025Q3 FY25 | — | −$0.74 | — | — | $26.2M | — | +2.18% |
| Sep 3, 2025Q2 FY25 | — | −$0.46 | — | — | $20.4M | — | +9.45% |
Financial highlights
| 10 quarters | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $16.2M | $18.2M | $20.4M | $26.3M | $30.8M | $31.3M | |
| Gross profit | $12.6M | $14.0M | $15.2M | $19.3M | $22.3M | $23.0M | |
| Operating income | −$901.0K | −$1.3M | −$2.7M | −$4.2M | −$5.2M | −$1.4M | |
| Net income | −$1.6M | −$1.5M | −$3.0M | −$4.8M | −$6.5M | −$2.3M | |
| Diluted EPS | −$16.80 | −$15.00 | −$31.20 | −$48.00 | −$65.40 | −$23.40 | |
| Gross margin | 77.5% | 77.0% | 74.6% | 73.3% | 72.4% | 73.7% | |
| Operating margin | -5.5% | -7.1% | -13.3% | -15.8% | -16.9% | -4.6% |
Fiscal years (4-quarter sums)FY24 $50.7M · FY25 $95.7M
Revenue by product · FY25
Revenue by geography · FY25
Balance sheet, Mar 31, 2026Cash & short-term investments $35.5M · Total debt $2.9M · Total assets $65.3M · Shareholders' equity −$33.6M
Dividends
No dividends on record.
Ownership
Shares outstanding 5.90M · Float —
Float — provider float is below the insider stake.
Insiders — filings are in the shares behind the receipt.
This listing is a depositary receipt and the Form 4 positions here are filed in the shares behind it, a different unit from the share count and in a ratio the filings never state, so no insider percentage is shown.
The provider's float is smaller than the insider stake it should exclude, so it is not shown.
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 13, 2026 | Jack Jiajia Huang | director, 10 percent owner, officer: Chief Executive Officer | +35,400 | $20.83 |
| Apr 10, 2026 | Jack Jiajia Huang | director, 10 percent owner, officer: Chief Executive Officer | +151,620 | $21.07 |
| Aug 12, 2026 | Jack Jiajia Huang | director, 10 percent owner, officer: Chief Executive Officer | +337,500 | $20.17 |
| Aug 11, 2026 | Jack Jiajia Huang | director, 10 percent owner, officer: Chief Executive Officer | +254,820 | $19.61 |
| Aug 10, 2026 | Jack Jiajia Huang | director, 10 percent owner, officer: Chief Executive Officer | +199,980 | $19.72 |
Peers
- Duolingo
Global mobile and AI conversation substitute at vastly greater scale.
- Pearson (ADR)
Global English app and children’s language-learning substitute.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| 51Talk (ADR) | $15.35 | −2.54% | $93.0M | — | — | 0.9 | +67.5% |
| Duolingo | $146.86 | −0.13% | $6.85B | 17.6 | 54.6 | 6.0 | +18.3% |
| Pearson (ADR) | $16.73 | 0.00% | $10.04B | 23.9 | — | 2.0 | — |
| Median | 20.8 | 54.6 | 4.0 | +18.3% |





