TAL Education Group Announces Unaudited Financial Results for the Third Fiscal Quarter Ended November 30, 2024

1. TAL's Q3 revenue increased 62.4% year-over-year to $606.4 million. 2. Net income for Q3 2025 was $23.1 million, a turnaround from last year's loss. 3. Non-GAAP net income rose 2,083.6% to $38.6 million in Q3 2025. 4. Operating costs rose 53.9%, contributing to a loss from operations decline of 45.8%. 5. Deferred revenues doubled, showing strong demand for TAL's services and growth potential.

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Why Very Bullish?

Strong revenue growth and profitability turnaround signal positive market sentiment, reminiscent of previous successful quarters.

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Sustained revenue and profit growth may enhance TAL's competitive position over time, similar to past performance improvements.

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TAL

BEIJING, Jan. 23, 2025 /PRNewswire/ -- TAL Education Group (NYSE: TAL)

("TAL" or the "Company"), a smart learning solutions provider in China, today announced its unaudited financial results for the third quarter of fiscal year 2025 ended November 30, 2024.

Highlights for the Third Quarter of Fiscal Year 2025

Highlights for the Nine Months Ended November 30, 2024

Financial Data——Third Quarter and First Nine Months of Fiscal Year 2025

(In US$ thousands, except per ADS data and percentages)

Three Months Ended	November 30, 2023	November 30, 2024	Pct. Change
Net revenues	373,506	606,446	62.4%
Loss from operations	(32,185)	(17,432)	(45.8%)
Net (loss)/income attributable to TAL	(23,946)	23,069	(196.3%)

"We achieved healthy year-on-year revenue growth this quarter. Our AI learning devices remained one of our faster-growing business lines and received encouraging user feedback and market recognition," said Alex Peng, TAL's President & Chief Financial Officer.

"We will continue to enhance our products' capabilities and adaptability across learning services and content solutions. As always, we are committed to helping more users discover learning solutions that meet their unique needs while also contributing positively to society."

Financial Results for the Third Quarter of Fiscal Year 2025

Net Revenues

In the third quarter of fiscal year 2025, TAL reported net revenues of US$606.4 million, representing a 62.4% increase from US$373.5 million in the third quarter of fiscal year 2024.

Operating Costs and Expenses

In the third quarter of fiscal year 2025, operating costs and expenses were US$624.7 million, representing a 53.9% increase from US$405.8 million in the third quarter of fiscal year 2024.

Category	2023	2024	Pct. Change
Cost of revenues	173,180	286,689	65.5%
Gross profit	200,326	319,757	59.6%

Conference Call

The Company will host a conference call and live webcast to discuss its financial results for the third fiscal quarter of fiscal year 2025 at 7:00 a.m. Eastern Time on January 23, 2025.

Safe Harbor Statement

This announcement contains forward-looking statements, which are subject to risks and uncertainties. For further information regarding these and other risks, please refer to TAL Education Group's reports filed with the U.S. Securities and Exchange Commission.

About TAL Education Group

TAL Education Group is a smart learning solutions provider in China. The acronym "TAL" stands for "Tomorrow Advancing Life", reflecting our vision to promote top learning opportunities for students through high-quality teaching and technology in education.

Contact Information

Jackson Ding
Investor Relations
TAL Education Group
Tel: +86 10 5292 6669-8809
Email: [email protected]