Youdao : Second Quarter 2023 Earnings Conference Call (Key Metrics)

Key Financial Metrics (RMB 000)	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2
Net Revenues	1,200,541	956,225	1,402,434	1,453,982	1,163,270	1,206,634
Learning Services	826,011	563,601	888,493	806,270	732,421	680,920
Smart Devices	253,160	239,850	356,480	406,956	212,749	222,157
Online Marketing Services	121,370	152,774	157,461	240,756	218,100	303,557
Gross Margin	53.5%	42.8%	54.2%	53.3%	51.7%	47.0%
Learning Services	63.9%	52.2%	64.5%	64.1%	62.0%	57.4%
Smart Devices	33.7%	30.6%	40.4%	46.2%	39.6%	35.8%
Online Marketing Services	23.7%	27.7%	27.1%	29.2%	29.1%	31.9%
Sales and Marketing Expenses	506,385	595,997	709,769	515,944	565,205	587,651
(Loss)/Income from operations	(125,104)	(455,213)	(219,035)	24,672	(195,791)	(289,131)
Net Cash (Used in)/Provided by Continuing Operating Activities	(425,610)	104,242	(294,111)	84,067	(436,976)	132,971