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Youdao Inc (DAO) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

CONSUMER DEFENSIVE · EDUCATION & TRAINING SERVICES · DATA UPDATED 2026-09-13

Youdao Inc (DAO) operates in the EDUCATION & TRAINING SERVICES industry and is headquartered in Hangzhou, China with about 3,595 employees. Its market capitalization is roughly $2 billion. In the fiscal year ended 2025-12-31, DAO reported CNY 5.9B in revenue and CNY 107M in net income.

Youdao, Inc., an internet technology company, provides online services in the fields of content, community, communication, and commerce in the People's Republic of China. It operates through three segments: Learning Services, Smart Devices, and Online Marketing Services.

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DAO Revenue & Earnings History — Annual Income Statement

Income statementTTM → 2026-06-302025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-31
Total RevenueCNY 6.0BCNY 5.9BCNY 5.6BCNY 5.4BCNY 5.0BCNY 4.0BCNY 3.2BCNY 1.3BCNY 732MCNY 456M
Gross ProfitCNY 2.7BCNY 2.6BCNY 2.7BCNY 2.8BCNY 2.6BCNY 2.0BCNY 1.5BCNY 371MCNY 216MCNY 162M
Gross Margin %45.1%44.3%48.9%51.3%51.6%49.5%45.9%28.4%29.6%35.5%
Operating Income (EBIT)CNY 264MCNY 228MCNY 161M(CNY 434M)(CNY 687M)(CNY 850M)(CNY 1.8B)(CNY 601M)(CNY 219M)(CNY 130M)
Operating Margin %4.4%3.9%2.9%-8.0%-13.7%-21.2%-57.0%-46.1%-29.9%-28.5%
Net IncomeCNY 161MCNY 107MCNY 82M(CNY 550M)(CNY 727M)(CNY 996M)(CNY 1.8B)(CNY 601M)(CNY 209M)(CNY 134M)
Net Margin %2.7%1.8%1.5%-10.2%-14.5%-24.8%-55.4%-46.1%-28.6%-29.3%
EBITDACNY 236MCNY 200MCNY 183M(CNY 440M)(CNY 638M)(CNY 858M)(CNY 1.8B)(CNY 590M)(CNY 160M)(CNY 127M)
Earnings Per Share (EPS)CNY 1.33CNY 0.90CNY 0.70CNY -4.53CNY -6.44CNY -8.18CNY -15.54CNY -6.30CNY -2.11CNY -1.35
Shares Outstanding (M)121M120M118M121M113M122M113M95M99M99M

CNY; CNYM / CNYB as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

DAO Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement2026-06-302026-03-312025-12-312025-09-302025-06-302025-03-312024-12-312024-09-30
Total RevenueCNY 1.5BCNY 1.3BCNY 1.6BCNY 1.6BCNY 1.4BCNY 1.3BCNY 1.3BCNY 1.6B
Gross ProfitCNY 715MCNY 602MCNY 705MCNY 688MCNY 609MCNY 614MCNY 641MCNY 789M
Gross Margin %48.9%44.7%45.1%42.2%43.0%47.3%47.8%50.2%
Operating Income (EBIT)CNY 112MCNY 58MCNY 67MCNY 28MCNY 29MCNY 104MCNY 84MCNY 107M
Operating Margin %7.6%4.3%4.3%1.7%2.0%8.0%6.3%6.8%
Net IncomeCNY 74MCNY 39MCNY 48MCNY 0M(CNY 18M)CNY 77MCNY 83MCNY 86M
Net Margin %5.0%2.9%3.1%0.0%-1.2%5.9%6.2%5.5%
EBITDACNY 101MCNY 62MCNY 50MCNY 22MCNY 0MCNY 104MCNY 92MCNY 106M
Earnings Per Share (EPS)CNY 0.61CNY 0.32CNY 0.40CNY 0.00CNY -0.15CNY 0.64CNY 0.70CNY 0.73
Shares Outstanding (M)121M120M120M120M118M120M119M118M

CNY; CNYM / CNYB as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

DAO Free Cash Flow History

Cash flowTTM → 2026-06-302025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-31
Cash from Operations (CFO)—CNY 55M(CNY 68M)(CNY 438M)(CNY 603M)(CNY 1.3B)(CNY 322M)(CNY 372M)(CNY 100M)(CNY 87M)
Capital Expenditures (CapEx)CNY 0MCNY 26MCNY 12MCNY 18MCNY 70MCNY 64MCNY 37MCNY 18MCNY 14MCNY 11M
Free Cash Flow (FCF)—CNY 30M(CNY 80M)(CNY 456M)(CNY 673M)(CNY 1.4B)(CNY 358M)(CNY 390M)(CNY 114M)(CNY 98M)
FCF Margin %—0.5%-1.4%-8.5%-13.4%-35.1%-11.3%-29.9%-15.6%-21.5%

CNY; CNYM / CNYB as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

DAO Balance Sheet History

Balance sheet2026-06-302025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-31
Total AssetsCNY 2.0BCNY 2.0BCNY 1.8BCNY 1.7BCNY 2.3BCNY 2.6BCNY 2.1BCNY 2.1BCNY 620MCNY 162M
Cash & Cash EquivalentsCNY 570MCNY 440MCNY 593MCNY 455MCNY 784MCNY 323MCNY 609MCNY 173MCNY 42MCNY 40M
Total LiabilitiesCNY 3.8BCNY 3.9BCNY 3.9BCNY 3.8BCNY 3.8BCNY 3.4BCNY 3.5BCNY 1.8BCNY 1.8BCNY 1.1B
Total Debt (Short + Long-Term)CNY 1.7BCNY 1.8BCNY 1.8BCNY 1.5BCNY 1.4BCNY 1.2BCNY 908MCNY 882MCNY 878MCNY 878M
Total Shareholders' Equity(CNY 1.8B)(CNY 2.0B)(CNY 2.1B)(CNY 2.2B)(CNY 1.5B)(CNY 807M)(CNY 1.4B)CNY 300M(CNY 1.1B)(CNY 715M)

CNY; CNYM / CNYB as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive DAO viewer.

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