China Online Education Group (NYSE:COE) Q1 2019 Earnings Conference Call - Final Transcript

Jun 14, 2019 • 08:00 am ET

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China Online Education Group (NYSE:COE) Q1 2019 Earnings Conference Call - Final Transcript

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Presentation
Executive
Min Xu

equivalents, time deposits and short-term investments of RMB697.1 million, compared with RMB712.1 million as of December 31, 2018. As of March 31, 2019, we had deferred revenues of RMB1.8 billion, compared with RMB1.7 billion as of December 31, 2018.

So for the second quarter of 2019, the Company currently expects net revenues to be between RMB342 million to RMB347 million, which would represent an increase of approximately 21.4% to 23.2% from RMB281.7 million for the same quarter last year. Total gross billings to be between RMB465 million to RMB470 million, which would represent an increase of approximately 10.7% to 11.9% from RMB420 million for the same quarter last year.

Gross billings for the Company's one-on-one business are expected to be between RMB433 million to RMB438 million, which would represent an increase of roughly 15.0% to 16.3% from RMB376.5 million for the same quarter last year.

Gross billings for our small class business are expected to be approximately RMB32 million, which would represent a decrease of approximately 26.4% from RMB43.5 million for the same quarter last year. The above outlook is based on the current market conditions and reflects the Company's current and preliminary estimates of market and operating conditions and customer demand, which are all subject to change.

This concludes our prepared remarks. We will now open the call to questions. Operator Please go ahead.