51Talk Online Education Group

Hello, ladies and gentlemen. Thank you for standing by for 51 Talk Online Education Group's 4th Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. Today's conference call is being recorded. I would now like to turn the call over to your host, Mr. David Chong, Investor Relations for the company. Please go ahead, David.

Hello, everyone, and welcome to the 4th Quarter 2024 Earnings Conference Call of 5.1 Talk. The company's results were issued via Newswire Services earlier today and are posted online. You can download the earnings press release and sign up for the company's distribution list by visiting ir.51talk.com. Mr. Jack Wang, our CEO, and Ms. Cindy Tang, our CFO, will begin with some prepared remarks. Following the prepared remarks, there will be a Q&A session. Before we continue, please note that the discussion will contain forward-looking statements made under the safe harbor provisions of the U.S. Private Securities Mitigation Reform Act of 1995. Forward-looking statements involve inherent risks and uncertainties. As such, the company's results may be materially different from the views expressed today. Further information regarding this and other risks and uncertainties is included in the company's Form 20F and other public filings as filed with the U.S. Securities and Exchange Commission. The company does not assume any obligation to update any forward-looking statements except as required under the applicable law. Please also note that Earnings press release and this conference call include discussion of unaudited gap financial information as well as unaudited non-gap financial measures. 5.1 Talks press release contains a reconciliation of the unaudited non-gap measures to the unaudited most directly comparable gap measures. I'll now turn the call over to our CEO, Jack Wang. Jack, please go ahead.

Thank you, Kevin. Hello, everyone. Thank you for joining our conference call today. We concluded financial year 2024 with gross billings growing by 74.4% year-over-year and net revenues increasing by 87% year-over-year. Even more encouraging is that we achieved this while strengthening our cash positions delivering a full-year positive operating cash flow of US dollar 5.8 million. Throughout financial year 2004, we made significant progress in building out our local teams and developing more localized marketing and product contents. We are also expanding into new geographic markets to drive In 2024, we've already seen the benefits of integrating AI into our operations, reflected in the improvement of operational efficiency and a narrowing of operating losses. We believe 2025 will continue to be a pivotal year for AI adoption and further efficiency improvements. Especially, AI will enable more personalized course plans and exercises tailored to students' proficiency levels, as well as enhanced progress tracking. With that, I will now turn the call over to Cindy, our CFO.