YQ

MKT CAP:$22M

17 Education & Technology Group Inc.

Market Cap

$22M

Consumer Defensive·Education & Training Services·🇨🇳 China·NASDAQ

Consumer Def.·Education·🇨🇳·NASDAQ

Stock Price

$2.59-$0.82 (-24.05%)

Apr 23, 2026

Company Details

17 Education & Technology Group Inc., an education technology company, provides education and education technology services in the People's Republic of China. The company also provides educational services comprising membership-based educat...

CEO

Andy Chang Liu

IPO Date

Dec 4, 2020

Website

ucenter.17zuoye.com

Key Metrics TTM

Revenue

$15M

-44.2% YoY

Net Income

-$22M

EPS (Diluted)

-$2.21

Free Cash Flow

$0

Revenue / Share

$1.35

Gross Margin

47.8%

Operating Margin

-154.3%

Net Margin

-145.7%

FCF Margin

0.0%

P/S

1.4x

P/E

—

Earnings Reports

FY 2025

Dec 30, 2025

$15M-45.5%EPS -$2.19

Q4 2025

Dec 30, 2025

$6M+4.9%EPS -$0.67

Q3 2025

Dec 10, 2025

$3M-66.4%EPS -$0.63

Q2 2025

Sep 4, 2025

$4M-62.4%EPS -$0.41

Q1 2025

Mar 31, 2025

$3M-15.0%EPS -$0.49

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$34M	$21M	-$4M
Q2 22	$20M	$10M	-$5M
Q3 22	$18M	$14M	-$4M
Q4 22	$6M	$3M	-$18M
Q1 23	$1M	$330.7K	-$15M
Q2 23	$10M	$5M	-$8M
Q3 23	$7M	$4M	-$11M
Q4 23	$7M	$3M	-$15M
Q1 24	$4M	$1M	-$9M
Q2 24	$10M	$2M	-$9M
Q3 24	$9M	$5M	-$3M
Q4 24	$5M	$2M	-$10M
Q1 25	$3M	$1M	-$5M
Q2 25	$4M	$2M	-$4M
Q3 25	$3M	$1M	-$7M
Q4 25	$6M	$3M	-$8M

Valuation

Quarter	P/S	P/E
Q1 22	0.5x	—
Q2 22	0.4x	—
Q3 22	0.4x	—
Q4 22	1.3x	—
Q1 23	1.1x	—
Q2 23	1.1x	—
Q3 23	1.3x	—
Q4 23	0.8x	—
Q1 24	0.7x	—
Q2 24	0.6x	—
Q3 24	0.8x	—
Q4 24	0.5x	—
Q1 25	0.7x	—
Q2 25	1.0x	—
Q3 25	2.4x	—
Q4 25	2.5x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 20	$0	-$4M
Q4 20	$498.5K	-$4M
Q4 21	-$214M	-$223M
Q3 22	$0	$0
Q4 22	-$62M	-$53M
Q1 23	$0	$0
Q2 23	$0	$0
Q3 23	$0	$0
Q4 23	$0	$0
Q1 24	$0	$0
Q2 24	$0	$0
Q3 24	$0	$0
Q4 24	$0	$0
Q1 25	$0	$0
Q2 25	$0	$0
Q3 25	$0	$0

Capital Expenditures

Quarter	CapEx
Q3 20	$4M
Q4 20	$4M
Q4 21	$9M
Q3 22	$0
Q4 22	$9M
Q1 23	$0
Q2 23	$0
Q3 23	$0
Q4 23	$0
Q1 24	$0
Q2 24	$0
Q3 24	$0
Q4 24	$0
Q1 25	$0
Q2 25	$0
Q3 25	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	-50.8%	-77.0%
Q2 22	-80.1%	-82.4%
Q3 22	-74.9%	-84.7%
Q4 22	-92.7%	-72.0%
Q1 23	-96.0%	-56.9%
Q2 23	-48.1%	-24.2%
Q3 23	-63.8%	-18.7%
Q4 23	+19.7%	-6.4%
Q1 24	+175.0%	-22.0%
Q2 24	-2.5%	+0.5%
Q3 24	+32.2%	-34.3%
Q4 24	-22.7%	-29.4%
Q1 25	-15.0%	-37.2%
Q2 25	-62.4%	-57.8%
Q3 25	-66.4%	-18.0%
Q4 25	+4.9%	-12.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 20	$0	0.0%
Q4 20	$34M	47.3%
Q4 21	-$7M	-9.2%
Q3 22	$0	0.0%
Q4 22	-$17M	-292.3%
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$2M	35.2%
Q1 24	$2M	52.5%
Q2 24	$2M	19.4%
Q3 24	$2M	19.7%
Q4 24	$3M	64.7%
Q1 25	$1M	39.4%
Q2 25	$1M	27.8%
Q3 25	$920.2K	31.5%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q1 22	$14M	$7M	$3M	—
Q2 22	$5M	$9M	$1M	—
Q3 22	$7M	$6M	$4M	—
Q4 22	$8M	$10M	$3M	—
Q1 23	$6M	$6M	$3M	—
Q2 23	$5M	$5M	$3M	—
Q3 23	$7M	$4M	$4M	—
Q4 23	$6M	$16M	—	—
Q1 24	$3M	$5M	$3M	—
Q2 24	$3M	$5M	$2M	—
Q3 24	$2M	$4M	$3M	—
Q4 24	$2M	$14M	—	—
Q1 25	$2M	$2M	$2M	—
Q2 25	$2M	$2M	$2M	—
Q3 25	$2M	$4M	$2M	—
Q4 25	$2M	—	—	$8M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$119M	$0	$119M
Q2 22	$131M	$0	$131M
Q3 22	$124M	$0	$124M
Q4 22	$103M	$3M	$106M
Q1 23	$61M	$29M	$90M
Q2 23	$38M	$43M	$81M
Q3 23	$63M	$11M	$74M
Q4 23	$45M	$25M	$70M
Q1 24	$40M	$25M	$65M
Q2 24	$51M	$9M	$60M
Q3 24	$41M	$9M	$50M
Q4 24	$34M	$18M	$52M
Q1 25	$40M	$9M	$49M
Q2 25	$34M	$17M	$51M
Q3 25	$36M	$14M	$50M
Q4 25	$60M	$0	$60M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	10M	+0.3%	+5.7%
Q2 22	10M	+0.1%	+5.5%
Q3 22	10M	-1.5%	+1.1%
Q4 22	10M	-1.8%	-2.9%
Q1 23	10M	-1.2%	-4.3%
Q2 23	10M	-1.7%	-6.1%
Q3 23	9M	-8.9%	-13.1%
Q4 23	9M	-0.2%	-11.7%
Q1 24	8M	-10.9%	-20.3%
Q2 24	8M	+0.1%	-18.9%
Q3 24	8M	-0.0%	-11.0%
Q4 24	9M	+11.7%	-0.3%
Q1 25	9M	+6.7%	+19.3%
Q2 25	9M	-0.3%	+18.8%
Q3 25	10M	+11.1%	+32.1%
Q4 25	11M	+11.1%	+31.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$23.4K	1K
Q2 22	$13.4K	1K
Q3 22	$12.5K	1K
Q4 22	$12.0K	480
Q1 23	$2.8K	480
Q2 23	$21.1K	480
Q3 23	$13.7K	480
Q4 23	$13.8K	503
Q1 24	$7.4K	503
Q2 24	$19.6K	503
Q3 24	$17.3K	503
Q4 24	$15.7K	340
Q1 25	$9.3K	340
Q2 25	$10.9K	340
Q3 25	$8.6K	340
Q4 25	$16.5K	340

Revenue / Employee