Youdao, Inc. income statement

In fiscal 2025, Youdao, Inc. reported revenue of $822m, up 5.2% on the year before, operating income of $30.8m (a 3.7% margin) and net income of $14.9m, or $0.13 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Youdao, Inc.: income statement, annual
Fiscal year	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Revenue	67	111	175	366	623	747	762	782	822
Cost of revenue	43	78	126	206	314	361	371	400	458
Gross profit	24	33	49	161	308	385	391	382	364
Research and development	20	28	39	54	94	120	105	75	72
Selling and marketing	20	32	66	214	322	347	321	260	234
General and administrative	3	6	10	16	30	34	31	26	27
Operating income	−19	−33	−67	−123	−146	−115	−66	21	31
Interest expense	—	5	4	5	5	7	10	10	9
Income before tax	—	−30	−66	−115	−143	−108	−76	11	16
Income tax	1	2	0	0	1	2	2	1	2
Net income	−20	−32	−87	−254	−154	−108	−78	11	15
Diluted EPS	−$0.30	−$0.42	−$0.97	−$2.25	−$1.27	−$0.88	−$0.64	$0.10	$0.13
Diluted shares (average)	65m	85m	95m	113m	122m	124m	121m	118m	120m
EBITDA	−19	−32	−65	−121	−142	−109	−62	25	34

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

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Figures from Youdao, Inc.'s SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to Youdao, Inc.