Youdao, Inc. (DAO) Q4 2019 Earnings Call Transcript

Youdao, Inc. (DAO) Q4 2019 Earnings Call Transcript

During today's call, management will also discuss certain non-GAAP financial measures for comparison purposes only.. With six consecutive quarters of growth, Q4 gross billings for our online courses were up 211% year over year, accelerating faster than our growth in Q3 of 140% year over year.. Yearly gross billings of online courses reached RMB 940 million, up 125% year over year.. In fiscal-year 2019, almost 40% of our new paid enrollments for online courses were driven by our organic traffic.. Our yearly gross billings of our K-12 segment grew to RMB 454 million, representing a 166% increase year over year, accounting for 48% of our total gross billings from our online courses.. For the fourth quarter, our K-12 gross billings were RMB 169 million, up 256% year over year.. Our strong growth came from continued enhancement to our course content and products.. Annual gross billings were RMB 296 million, up 57% year over year.. And for the fourth quarter, gross billings for our adult education segment were RMB 112 million, up 145% year over year.. In Q4, the gross billings of our Practical English reached RMB 86 million, a 308% increase year over year and a 117% increase quarter over