Youdao : Fourth Quarter 2022 Earnings Conference Call (Key Metrics)

Key Financial Metrics:	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022Q1	2022Q2	2022Q3	2022Q4
Net Revenues（RMB 000'）	947,973	979,949	1,039,075	1,048,797	1,200,541	956,225	1,402,434	1,453,982
Learning Services	606,960	607,680	647,522	579,259	826,011	563,601	888,493	806,270
Smart Devices	201,919	206,290	254,513	317,702	253,160	239,850	356,480	406,956
Online Marketing Services	139,094	165,979	137,040	151,836	121,370	152,774	157,461	240,756
Gross Margin	52.4%	51.0%	52.6%	42.5%	53.5%	42.8%	54.2%	53.3%
Learning Services	63.4%	58.8%	65.0%	51.4%	63.9%	52.2%	64.5%	64.1%
Smart Devices	44.1%	43.0%	33.7%	30.8%	33.7%	30.6%	40.4%	46.2%
Online Marketing Services	16.4%	32.7%	29.2%	32.6%	23.7%	27.7%	27.1%	29.2%
Sales and Marketing Expenses（RMB 000'）	548,744	555,050	553,407	420,437	506,385	595,997	709,769	515,944
(Loss)/Income from operations（RMB 000'）	-214,346	-254,876	-225,747	-248,279	-125,104	-455,213	-219,035	24,672
Operating Cash Inflow (Outflow) from Continuing Operations（RMB 000'）	-	-	-	142,201	-425,610	104,242	-294,111	84,067