{"id":10655,"date":"2022-07-29T08:00:00","date_gmt":"2022-07-29T08:00:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/3830952_CN30952_0"},"modified":"2022-07-29T08:00:00","modified_gmt":"2022-07-29T08:00:00","slug":"tal-education-group-announces-unaudited-financial-results-for-the-first-fiscal-quarter-ended-may-31-2022","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=10655","title":{"rendered":"TAL Education Group Announces Unaudited Financial Results for the First Fiscal Quarter Ended May 31, 2022"},"content":{"rendered":"

BEIJING<\/span><\/span>, July 29, 2022<\/span><\/span> \/PRNewswire\/ — TAL Education Group (NYSE: TAL) (“TAL” or the “Company”), a smart learning solutions provider in China<\/span>, today announced its unaudited financial results for the first quarter of fiscal year 2023 ended May 31, 2022<\/span>.<\/p>\n

Highlights for the First Quarter of Fiscal Year 2023<\/b><\/p>\n

–     Net revenues was US$224.0 million<\/span>, compared to net revenues of US$1,384.9 million<\/span> in the same period of the prior year.<\/p>\n

–     Loss from operations was US$28.3 million<\/span>, compared to loss from operations of US$126.9 million<\/span> in the same period of the prior year.<\/p>\n

–     Non-GAAP loss from operations, which excluded share-based compensation expenses, was US$1.8 million<\/span>, compared to non-GAAP loss from operations of US$59.4 million<\/span> in the same period of the prior year.<\/p>\n

–     Net loss attributable to TAL was US$43.8 million<\/span>, compared to net loss attributable to TAL of US$102.1 million<\/span> in the same period of the prior year.<\/p>\n

–     Non-GAAP net loss attributable to TAL, which excluded share-based compensation expenses, was US$17.4 million<\/span>, compared to non-GAAP net loss attributable to TAL of US$34.6 million<\/span> in the same period of the prior year.<\/p>\n

–     Basic and diluted net loss per American Depositary Share (“ADS”) were both US$0.07<\/span>. Non-GAAP basic and diluted net loss per ADS, which excluded share-based compensation expenses, were both US$0.03<\/span>. Three ADSs represent one Class A common share.<\/p>\n

–     Cash, cash equivalents and short-term investments totaled US$2,892.1 million<\/span> as of May 31, 2022<\/span>, compared to US$2,708.7 million<\/span> as of February 28, 2022<\/span>.<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

Financial Data\u2014\u2014First Quarter of Fiscal Year 2023<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

(In US$ thousands, except per ADS data and percentages)<\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
<\/td>\n\n

Three Months Ended<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n\n

May 31,<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n\n

2021<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

2022<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

Pct. Change<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Net revenues<\/span><\/p>\n<\/td>\n

\n

1,384,943<\/span><\/p>\n<\/td>\n

<\/td>\n\n

224,045<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(83.8 %)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Loss from operations<\/span><\/p>\n<\/td>\n

\n

(126,857)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(28,323)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(77.7 %)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Non-GAAP<\/span> loss from operations<\/span><\/p>\n<\/td>\n

\n

(59,412)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(1,844)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(96.9 %)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Net loss attributable to TAL<\/span><\/p>\n<\/td>\n

\n

(102,078)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(43,829)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(57.1 %)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Non-GAAP net loss attributable to TAL<\/span><\/p>\n<\/td>\n

\n

(34,633)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(17,350)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(49.9 %)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Net loss per ADS attributable to TAL \u2013 basic<\/span><\/p>\n<\/td>\n

\n

(0.16)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(0.07)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(57.1 %)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

 Net loss per ADS attributable to TAL \u2013 diluted<\/span><\/p>\n<\/td>\n

\n

(0.16)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(0.07)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(57.1 %)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Non-GAAP net loss per ADS attributable to TAL \u2013 basic<\/span><\/p>\n<\/td>\n

\n

(0.05)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(0.03)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(49.9 %)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Non-GAAP net loss per ADS attributable to TAL \u2013 diluted<\/span><\/p>\n<\/td>\n

\n

(0.05)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(0.03)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(49.9 %)<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n

“Our performance this quarter demonstrates the combined efforts of our experienced management team, innovative employees, and our extensive business partners. In the process of our transformation, we are focused on developing new initiatives that match the mega trends in our industry and the broader ecosystem.” said Alex Peng<\/span>, TAL’s President & Chief Financial Officer.<\/p>\n

“We believe TAL’s trusted brand, operational excellence and pedagogical know-how will position the company for the transformation we are going through.” Mr. Peng concluded.<\/p>\n

Financial Results for the First Quarter of Fiscal Year 2023<\/b><\/p>\n

Net Revenues<\/i><\/b><\/p>\n

In the first quarter of fiscal year 2023, TAL reported net revenues of US$224.0 million<\/span>, representing an 83.8% decrease from US$1,384.9 million<\/span> in the first quarter of fiscal year 2022.<\/p>\n

Operating Costs and Expenses<\/i><\/b><\/p>\n

In the first quarter of fiscal year 2023, operating costs and expenses were US$260.0 million<\/span>, representing an 82.8% decrease from US$1,515.0 million<\/span> in the first quarter of fiscal year 2022. Non-GAAP operating costs and expenses, which excluded share-based compensation expenses, were US$233.6 million<\/span>, representing an 83.9% decrease from US$1,447.6 million<\/span> in the first quarter of fiscal year 2022.<\/p>\n

Cost of revenues decrease by 85.6% to US$88.6 million<\/span> from US$613.1 million<\/span> in the first quarter of fiscal year 2022. Non-GAAP cost of revenues, which excluded share-based compensation expenses, decreased by 85.9% to US$86.2 million<\/span>, from US$612.8 million<\/span> in the first quarter of fiscal year 2022.<\/p>\n

Selling and marketing expenses decreased by 86.1% to US$60.0 million<\/span> from US$431.3 million<\/span> in the first quarter of fiscal year 2022. Non-GAAP selling and marketing expenses, which excluded share-based compensation expenses, decreased by 87.2% to US$52.0 million<\/span>, from US$407.4 million<\/span> in the first quarter of fiscal year 2022.<\/p>\n

General and administrative expenses decreased by 66.3% to US$111.5 million<\/span> from US$331.1 million<\/span> in the first quarter of fiscal year 2022. Non-GAAP general and administrative expenses, which excluded share-based compensation expenses, decreased by 66.9% to US$95.4 million<\/span>, from US$288.0 million<\/span> in the first quarter of fiscal year 2022.<\/p>\n

Total share-based compensation expenses allocated to the related operating costs and expenses decreased by 60.7% to US$26.5 million<\/span> in the first quarter of fiscal year 2023 from US$67.4 million<\/span> in the same period of fiscal year 2022.<\/p>\n

Impairment loss on intangible assets and goodwill was nil for the first quarter of fiscal year 2023, compared to US$139.4 million<\/span> for the first quarter of fiscal year 2022.<\/p>\n

Gross Profit                                                                                                                                  <\/i><\/b><\/p>\n

Gross profit decreased by 82.4% to US$135.5 million<\/span> from US$771.8 million<\/span> in the first quarter of fiscal year 2022.<\/p>\n

Loss from Operations<\/i><\/b><\/p>\n

Loss from operations was US$28.3 million<\/span> in the first quarter of fiscal year 2023, compared to loss from operations of US$126.9 million<\/span> in the first quarter of fiscal year 2022. Non-GAAP loss from operations, which excluded share-based compensation expenses, was US$1.8 million<\/span>, compared to Non-GAAP loss from operations of US$59.4 million<\/span> in the same period of the prior year.<\/p>\n

Other Income \/ (Expense) <\/i><\/b><\/p>\n

Other expense was US$26.8 million<\/span> for the first quarter of fiscal year 2023, compared to other income of US$38.8 million<\/span> in the first quarter of fiscal year 2022.<\/p>\n

Impairment Loss on Long-term Investments <\/i><\/b><\/p>\n

Impairment loss on long-term investments was nil for the first quarter of fiscal year 2023, compared to US$23.2 million<\/span> for the first quarter of fiscal year 2022.<\/p>\n

Income Tax expense<\/i><\/b><\/p>\n

Income tax expense was US$2.3 million<\/span> in the first quarter of fiscal year 2023, compared to US$31.2 million<\/span> of income tax expense in the first quarter of fiscal year 2022.<\/p>\n

Net Loss Attributable to TAL Education Group<\/i><\/b><\/p>\n

Net loss attributable to TAL was US$43.8 million<\/span> in the first quarter of fiscal year 2023, compared to net loss attributable to TAL of US$102.1 million<\/span> in the first quarter of fiscal year 2022. Non-GAAP net loss attributable to TAL, which excluded share-based compensation expenses, was US$17.4 million<\/span>, compared to Non-GAAP net loss attributable to TAL of US$34.6 million<\/span> in the first quarter of fiscal year 2022.<\/p>\n

Basic and Diluted Net Loss per ADS<\/i><\/b><\/p>\n

Basic and diluted net loss per ADS were both US$0.07<\/span> in the first quarter of fiscal year 2023. Non-GAAP basic and diluted net loss per ADS, which excluded share-based compensation expenses, were both US$0.03<\/span>, in the first quarter of fiscal year 2023.<\/p>\n

Cash, Cash Equivalents, and Short-Term Investments<\/i><\/b><\/p>\n

As of May 31, 2022<\/span>, the Company had US$1,736.0 million<\/span> of cash and cash equivalents and US$1,156.1 million<\/span> of short-term investments, compared to US$1,638.2 million<\/span> of cash and cash equivalents and US$1,070.5 million<\/span> of short-term investments as of February 28, 2022<\/span>.<\/p>\n

Deferred Revenue<\/i><\/b><\/p>\n

As of May 31, 2022<\/span>, the Company’s deferred revenue balance was US$227.4 million<\/span>, compared to US$187.7 million<\/span> as of February 28, 2022<\/span>.<\/p>\n

Conference Call<\/b><\/p>\n

The Company will host a conference call and live webcast to discuss its financial results for the first fiscal quarter of fiscal year 2023 ended May 31, 2022<\/span> at 8:00 a.m. Eastern Time<\/span> on July 29, 2022<\/span> (8:00 p.m.<\/span> Beijing<\/span> time on July 29, 2022<\/span>).<\/p>\n

Please note that you will need to pre-register for conference call participation at https:\/\/register.vevent.com\/register\/BI2f124a2b4d054342a99323e38a074715<\/a>.<\/p>\n

Upon registration, you will receive an email containing participant dial-in numbers and unique Direct Event Passcode. This information will allow you to gain immediate access to the call. Participants may pre-register at any time, including up to and after the call start time.<\/p>\n

A live and archived webcast of the conference call will be available on the Investor Relations section of TAL’s website at https:\/\/ir.100tal.com\/<\/a>.<\/p>\n

Safe Harbor Statement<\/b><\/p>\n

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, TAL Education Group’s strategic and operational plans contain forward-looking statements. The Company may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s ability to continue to provide competitive learning services and products; the Company’s ability to continue to recruit, train and retain talents; the Company’s ability to improve the content of current course offerings and develop new courses; the Company’s ability to maintain and enhance its brand; the Company’s ability to maintain and continue to improve its teaching results; and the Company’s ability to compete effectively against its competitors. Further information regarding these and other risks is included in the Company’s reports filed with, or furnished to the U.S. Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of this press release, and TAL Education Group undertakes no duty to update such information or any forward-looking statement, except as required under applicable law.<\/p>\n

About TAL Education Group<\/b><\/p>\n

TAL Education Group is a smart learning solutions provider in China<\/span>. The acronym “TAL” stands for “Tomorrow Advancing Life”, which reflects our vision to promote top learning opportunities for students through both high-quality teaching and content, as well as leading edge application of technology in the education experience. TAL Education Group offers comprehensive learning services to students from all ages through diversified class formats. Our learning services mainly cover enrichment learnings programs and some academic subjects in and out of China<\/span>. Our ADSs trade on the New York Stock Exchange under the symbol “TAL”.<\/p>\n

About Non-GAAP Financial Measures<\/b><\/p>\n

In evaluating its business, TAL considers and uses the following measures defined as non-GAAP financial measures by the SEC as supplemental metrics to review and assess its operating performance: non-GAAP operating costs and expenses, non-GAAP cost of revenues, non-GAAP selling and marketing expenses, non-GAAP general and administrative expenses, non-GAAP loss from operations, non-GAAP net loss attributable to TAL, non-GAAP basic and non-GAAP diluted net loss per ADS. To present each of these non-GAAP measures, the Company excludes share-based compensation expenses. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. For more information on these non-GAAP financial measures, please see the table captioned “Reconciliations of non-GAAP measures to the most comparable GAAP measures” set forth at the end of this release.<\/p>\n

TAL believes that these non-GAAP financial measures provide meaningful supplemental information regarding its performance and liquidity by excluding share-based expenses that may not be indicative of its operating performance from a cash perspective. TAL believes that both management and investors benefit from these non-GAAP financial measures in assessing its performance and when planning and forecasting future periods. These non-GAAP financial measures also facilitate management’s internal comparisons to TAL’s historical performance and liquidity. TAL computes its non-GAAP financial measures using the same consistent method from quarter to quarter and from period to period. TAL believes these non-GAAP financial measures are useful to investors in allowing for greater transparency with respect to supplemental information used by management in its financial and operational decision making. A limitation of using non-GAAP measures is that these non-GAAP measures exclude share-based compensation charges that have been and will continue to be for the foreseeable future a significant recurring expense in the Company’s business. Management compensates for these limitations by providing specific information regarding the GAAP amounts excluded from each non-GAAP measure. The accompanying tables have more details on the reconciliations between GAAP financial measures that are most directly comparable to non-GAAP financial measures.<\/p>\n

For further information, please contact:<\/b><\/p>\n

Jackson Ding<\/span>
Investor Relations
TAL Education Group
Tel: +86 10 5292 6669-8809
Email: ir@tal.com<\/a><\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

TAL EDUCATION GROUP<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

(In thousands of U.S. dollars)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/tr>\n
<\/td>\n\n

As of<\/b><\/span><\/p>\n

February 28,
2022<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

As of<\/b><\/span><\/p>\n

May 31,
2022<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

ASSETS<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Current assets<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

  Cash and cash equivalents<\/span><\/p>\n<\/td>\n

\n

$ 1,638,189<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$ 1,736,036<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Restricted cash-current<\/span><\/p>\n<\/td>\n

\n

755,646<\/span><\/p>\n<\/td>\n

<\/td>\n\n

532,214<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Short-term investments<\/span><\/p>\n<\/td>\n

\n

1,070,535<\/span><\/p>\n<\/td>\n

<\/td>\n\n

1,156,100<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

  Inventory<\/span><\/p>\n<\/td>\n

\n

21,830<\/span><\/p>\n<\/td>\n

<\/td>\n\n

22,483<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Amounts due from related parties-current<\/span><\/p>\n<\/td>\n

\n

919<\/span><\/p>\n<\/td>\n

<\/td>\n\n

546<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

  Income tax receivables<\/span><\/p>\n<\/td>\n

\n

19,504<\/span><\/p>\n<\/td>\n

<\/td>\n\n

3,145<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

  Prepaid expenses and other current assets<\/span><\/p>\n<\/td>\n

\n

122,753<\/span><\/p>\n<\/td>\n

<\/td>\n\n

146,174<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Total current assets<\/b><\/span><\/p>\n<\/td>\n

\n

3,629,376<\/span><\/p>\n<\/td>\n

<\/td>\n\n

3,596,698<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

  Restricted cash-non-current<\/span><\/p>\n<\/td>\n

\n

287,951<\/span><\/p>\n<\/td>\n

<\/td>\n\n

248,816<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

  Property and equipment, net<\/span><\/p>\n<\/td>\n

\n

281,226<\/span><\/p>\n<\/td>\n

<\/td>\n\n

258,004<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

  Deferred tax assets<\/span><\/p>\n<\/td>\n

\n

6,747<\/span><\/p>\n<\/td>\n

<\/td>\n\n

3,185<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

  Rental deposits<\/span><\/p>\n<\/td>\n

\n

10,770<\/span><\/p>\n<\/td>\n

<\/td>\n\n

11,572<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

  Intangible assets, net<\/span><\/p>\n<\/td>\n

\n

1,696<\/span><\/p>\n<\/td>\n

<\/td>\n\n

1,224<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

  Land use right, net<\/span><\/p>\n<\/td>\n

\n

217,708<\/span><\/p>\n<\/td>\n

<\/td>\n\n

204,751<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Amounts due from related parties-non-current<\/span><\/p>\n<\/td>\n

\n

77<\/span><\/p>\n<\/td>\n

<\/td>\n\n

1<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Long-term investments<\/span><\/p>\n<\/td>\n

\n

414,487<\/span><\/p>\n<\/td>\n

<\/td>\n\n

342,526<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Long-term prepayments and other non-current assets<\/span><\/p>\n<\/td>\n

\n

5,418<\/span><\/p>\n<\/td>\n

<\/td>\n\n

2,927<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Operating lease right-of-use assets<\/span><\/p>\n<\/td>\n

\n

227,072<\/span><\/p>\n<\/td>\n

<\/td>\n\n

165,437<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Total assets<\/b><\/span><\/p>\n<\/td>\n

\n

$ 5,082,528<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$ 4,835,141<\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

LIABILITIES AND EQUITY<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Current liabilities<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Accounts payable<\/span><\/p>\n<\/td>\n

\n

$ 89,838<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$ 71,097<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Deferred revenue-current<\/span><\/p>\n<\/td>\n

\n

187,718<\/span><\/p>\n<\/td>\n

<\/td>\n\n

227,344<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Amounts due to related parties-current<\/span><\/p>\n<\/td>\n

\n

205<\/span><\/p>\n<\/td>\n

<\/td>\n\n

138<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Accrued expenses and other current liabilities<\/span><\/p>\n<\/td>\n

\n

509,461<\/span><\/p>\n<\/td>\n

<\/td>\n\n

441,624<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Income tax payable<\/span><\/p>\n<\/td>\n

\n

49,257<\/span><\/p>\n<\/td>\n

<\/td>\n\n

38,401<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Operating lease liabilities, current portion<\/span><\/p>\n<\/td>\n

\n

66,105<\/span><\/p>\n<\/td>\n

<\/td>\n\n

44,173<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Total current liabilities<\/b><\/span><\/p>\n<\/td>\n

\n

902,584<\/span><\/p>\n<\/td>\n

<\/td>\n\n

822,777<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Deferred revenue-non-current<\/span><\/p>\n<\/td>\n

\n

14<\/span><\/p>\n<\/td>\n

<\/td>\n\n

13<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Deferred tax liabilities<\/span><\/p>\n<\/td>\n

\n

1,680<\/span><\/p>\n<\/td>\n

<\/td>\n\n

3,368<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Operating lease liabilities, non-current portion<\/span><\/p>\n<\/td>\n

\n

175,988<\/span><\/p>\n<\/td>\n

<\/td>\n\n

133,749<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Total liabilities<\/b><\/span><\/p>\n<\/td>\n

\n

1,080,266<\/span><\/p>\n<\/td>\n

<\/td>\n\n

959,907<\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Equity<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Class A common shares<\/span><\/p>\n<\/td>\n

\n

167<\/span><\/p>\n<\/td>\n

<\/td>\n\n

167<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Class B common shares<\/span><\/p>\n<\/td>\n

\n

49<\/span><\/p>\n<\/td>\n

<\/td>\n\n

49<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Treasury Stock <\/span><\/p>\n<\/td>\n

\n

–<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(4)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Additional paid-in capital<\/span><\/p>\n<\/td>\n

\n

4,358,265<\/span><\/p>\n<\/td>\n

<\/td>\n\n

4,334,980<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Statutory reserve<\/span><\/p>\n<\/td>\n

\n

154,362<\/span><\/p>\n<\/td>\n

<\/td>\n\n

154,222<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Accumulated deficit<\/span><\/p>\n<\/td>\n

\n

(544,309)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(587,998)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Accumulated other comprehensive income\/(loss) <\/span><\/p>\n<\/td>\n

\n

61,617<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(807)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Total TAL Education Group’s equity<\/b><\/span><\/p>\n<\/td>\n

\n

4,030,151<\/span><\/p>\n<\/td>\n

<\/td>\n\n

3,900,609<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Noncontrolling interest<\/span><\/p>\n<\/td>\n

\n

(27,889)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(25,375)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Total equity<\/b><\/span><\/p>\n<\/td>\n

\n

4,002,262<\/span><\/p>\n<\/td>\n

<\/td>\n\n

3,875,234<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Total liabilities and equity<\/b><\/span><\/p>\n<\/td>\n

\n

$ 5,082,528<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$ 4,835,141<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

TAL EDUCATION GROUP<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

(In thousands of U.S. dollars, except share, ADS, per share and per ADS data)<\/b> <\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n\n

       For the Three Months Ended<\/b><\/span><\/p>\n

        May 31<\/b>,<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n\n

2021<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

2022<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

 <\/p>\n

Net<\/b> revenues<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

 <\/p>\n

$ 1,384,943<\/span><\/p>\n<\/td>\n

<\/td>\n\n

 <\/p>\n

$ 224,045<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Cost<\/span> <\/span>of<\/span> <\/span>revenues<\/span> <\/span>(note<\/span> <\/span>1)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

613,141<\/span><\/p>\n<\/td>\n

<\/td>\n\n

88,558<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Gross<\/span> <\/span>profit<\/span><\/p>\n<\/td>\n

<\/td>\n\n

771,802<\/span><\/p>\n<\/td>\n

<\/td>\n\n

135,487<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Operating<\/b> expenses<\/b> (note<\/b> 1)<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

  <\/span>Selling<\/span> <\/span>and<\/span> <\/span>marketing<\/span><\/p>\n<\/td>\n

<\/td>\n\n

431,349<\/span><\/p>\n<\/td>\n

<\/td>\n\n

60,039<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

  <\/span>General<\/span> <\/span>and<\/span> <\/span>administrative<\/span><\/p>\n<\/td>\n

<\/td>\n\n

331,133<\/span><\/p>\n<\/td>\n

<\/td>\n\n

111,450<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Impairment<\/span> <\/span>loss<\/span> <\/span>on<\/span> <\/span>intangible<\/span> <\/span>assets<\/span> <\/span>and<\/span> <\/span>goodwill<\/span><\/p>\n<\/td>\n

<\/td>\n\n

139,409<\/span><\/p>\n<\/td>\n

<\/td>\n\n

–<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Total<\/span> <\/span>operating<\/span> <\/span>expenses<\/span><\/p>\n<\/td>\n

<\/td>\n\n

901,891<\/span><\/p>\n<\/td>\n

<\/td>\n\n

171,489<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Government<\/span> <\/span>subsidies<\/span><\/p>\n<\/td>\n

<\/td>\n\n

3,232<\/span><\/p>\n<\/td>\n

<\/td>\n\n

7,679<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Loss<\/span> <\/span>from<\/span> <\/span>operations<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(126,857)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(28,323)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Interest<\/span> <\/span>income<\/span><\/p>\n<\/td>\n

<\/td>\n\n

36,601<\/span><\/p>\n<\/td>\n

<\/td>\n\n

13,063<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Interest<\/span> <\/span>expense<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(3,172)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

–<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Other<\/span> <\/span>income\/(expense)<\/span> <\/span><\/p>\n<\/td>\n

<\/td>\n\n

38,822<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(26,789)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Impairment<\/span> <\/span>loss<\/span> <\/span>on<\/span> <\/span>long-term<\/span> <\/span>investments<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(23,182)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

–<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Loss<\/span> <\/span>before<\/span> <\/span>income<\/span> <\/span>tax<\/span> <\/span>expense<\/span> <\/span>and<\/span><\/p>\n

(loss)\/income<\/span> <\/span>from<\/span> <\/span>equity<\/span> <\/span>method<\/span> <\/span>investments<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(77,788)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(42,049)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Income<\/span> <\/span>tax expense<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(31,204)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(2,316)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

(Loss)\/income<\/span> <\/span>from<\/span> <\/span>equity<\/span> <\/span>method<\/span> <\/span>investments<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(72)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

1,453<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Net<\/b> loss<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

$ (109,064)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$ (42,912)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Add:<\/span> <\/span>Net<\/span> <\/span>loss\/(income)<\/span> <\/span>attributable<\/span> <\/span>to<\/span> <\/span>noncontrolling
<\/span>   interest<\/span><\/p>\n<\/td>\n

<\/td>\n\n

6,986<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(917)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Total<\/b> net<\/b> loss<\/b> attributable<\/b> to<\/b> TAL<\/b> Education<\/b><\/span><\/p>\n

Group<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

$ (102,078)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$ (43,829)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Net<\/b> loss<\/b> per<\/b> common<\/b> share<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

  <\/span>Basic<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$ (0.47)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$ (0.20)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

  <\/span>Diluted<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(0.47)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(0.20)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Net<\/b> loss<\/b> per<\/b> ADS<\/b> (note<\/b> 2)<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Basic<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$ (0.16)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$ (0.07)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Diluted<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(0.16)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(0.07)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

 <\/span><\/p>\n

Weighted<\/span> <\/span>average<\/span> <\/span>shares<\/span> <\/span>used<\/span> <\/span>in<\/span> <\/span>calculating<\/span> <\/span>net<\/span> <\/span>loss<\/span><\/p>\n

    per<\/span> <\/span>common<\/span> <\/span>share<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Basic<\/span><\/p>\n<\/td>\n

<\/td>\n\n

214,982,190<\/span><\/p>\n<\/td>\n

<\/td>\n\n

215,062,603<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Diluted<\/span><\/p>\n<\/td>\n

<\/td>\n\n

214,982,190<\/span><\/p>\n<\/td>\n

<\/td>\n\n

215,062,603<\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

Note1: Share-based compensation expenses are included in the operating costs and expenses as follows:<\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/tr>\n
<\/td>\n\n

For<\/b> the<\/b> Three<\/b> Months<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n\n

Ended<\/b> May<\/b> 31<\/b>,<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n\n

2021<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

2022<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Cost<\/span> <\/span>of<\/span> <\/span>revenues<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$ 383<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$ 2,393<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Selling<\/span> <\/span>and<\/span> <\/span>marketing<\/span> <\/span>expenses<\/span><\/p>\n<\/td>\n

<\/td>\n\n

23,972<\/span><\/p>\n<\/td>\n

<\/td>\n\n

8,081<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

General<\/span> <\/span>and<\/span> <\/span>administrative<\/span> <\/span>expenses<\/span><\/p>\n<\/td>\n

<\/td>\n\n

43,090<\/span><\/p>\n<\/td>\n

<\/td>\n\n

16,005<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Total<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$ 67,445<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$ 26,479<\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Note 2: Three ADSs represent one Class A common Share. <\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

 <\/span>TAL<\/b> EDUCATION<\/b> GROUP<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

UNAUDITED<\/b> CONDENSED<\/b> CONSOLIDATED<\/b> STATEMENTS<\/b> OF<\/b> <\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Comprehensive<\/b> LOSS<\/b> <\/span><\/p>\n<\/td>\n<\/tr>\n

\n

(In<\/b> thousands<\/b> of<\/b> U.S.<\/b> dollars)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n\n

For<\/span><\/b> the<\/span><\/b> Three<\/span><\/b> Months<\/span><\/b> Ended<\/span><\/b><\/span><\/p>\n

      <\/span>May<\/span> <\/span>31,<\/span><\/b> <\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n\n

2021<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

2022<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Net<\/b> loss<\/b><\/span><\/p>\n<\/td>\n

\n

$ (109,064)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$ (42,912)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Other<\/span> <\/span>comprehensive income\/(loss), net of<\/span> <\/span>tax<\/span><\/p>\n<\/td>\n

\n

15,695<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(60,826)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Comprehensive<\/b> loss<\/b><\/span><\/p>\n<\/td>\n

\n

(93,369)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(103,738)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Add:<\/span> <\/span>Comprehensive income\/(loss) attributable
<\/span>   to noncontrolling<\/span> <\/span>interest<\/span><\/p>\n<\/td>\n

\n

7,109<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(2,514)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Comprehensive<\/b> loss<\/b> attributable<\/b> to<\/b> <\/span><\/p>\n

TAL<\/b> Education<\/b> Group<\/b><\/span><\/p>\n<\/td>\n

\n

$ (86,260)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$ (106,252)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

TAL<\/b> EDUCATION<\/b> GROUP<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Reconciliation<\/b> of<\/b> Non-GAAP<\/b> Measures<\/b> to<\/b> the<\/b> Most<\/b> Comparable<\/b> GAAP<\/b> Measures<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

(In<\/b> thousands<\/b> of<\/b> U.S.<\/b> dollars,<\/b> except<\/b> share,<\/b> ADS,<\/b> per<\/b> share<\/b> and<\/b> per<\/b> ADS<\/b> data)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n\n

  For<\/b> the<\/b> Three<\/b> Months<\/b> <\/span><\/p>\n

   Ended<\/b> May<\/b> 31<\/b>,<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n\n

2021<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

2022<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Cost<\/b> of<\/b> revenues<\/b><\/span><\/p>\n<\/td>\n

\n

$ 613,141<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$ 88,558<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Share-based<\/span> <\/span>compensation<\/span> <\/span>expense<\/span> <\/span>in<\/span> <\/span>cost<\/span> <\/span>of<\/span><\/p>\n

revenues<\/span><\/p>\n<\/td>\n

\n

383<\/span><\/p>\n<\/td>\n

<\/td>\n\n

2,393<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Non-GAAP<\/b> cost<\/b> of<\/b> revenues<\/b><\/span><\/p>\n<\/td>\n

\n

612,758<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

86,165<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Selling<\/b> and<\/b> marketing<\/b> expenses<\/b><\/span><\/p>\n<\/td>\n

\n

431,349<\/span><\/p>\n<\/td>\n

<\/td>\n\n

60,039<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Share-based<\/span> <\/span>compensation<\/span> <\/span>expense<\/span> <\/span>in<\/span> <\/span>selling<\/span> <\/span>and<\/span><\/p>\n

marketing<\/span> <\/span>expenses<\/span><\/p>\n<\/td>\n

\n

23,972<\/span><\/p>\n<\/td>\n

<\/td>\n\n

8,081<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Non-GAAP<\/b> selling<\/b> and<\/b> marketing<\/b> expenses<\/b><\/span><\/p>\n<\/td>\n

\n

407,377<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

51,958<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

 <\/p>\n

General<\/b> and<\/b> administrative<\/b> expenses<\/b><\/span><\/p>\n<\/td>\n

\n

331,133<\/span><\/p>\n<\/td>\n

<\/td>\n\n

111,450<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Share-based<\/span> <\/span>compensation<\/span> <\/span>expense<\/span> <\/span>in<\/span> <\/span>general<\/span> <\/span>and<\/span><\/p>\n

administrative<\/span> <\/span>expenses<\/span><\/p>\n<\/td>\n

\n

43,090<\/span><\/p>\n<\/td>\n

<\/td>\n\n

16,005<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Non-GAAP<\/b> general<\/b> and<\/b> administrative<\/b> expenses<\/b><\/span><\/p>\n<\/td>\n

\n

288,043<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

95,445<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Operating<\/b> costs<\/b> and<\/b> expenses<\/b><\/span><\/p>\n<\/td>\n

\n

1,515,032<\/span><\/p>\n<\/td>\n

<\/td>\n\n

260,047<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Share-based<\/span> <\/span>compensation<\/span> <\/span>expense<\/span> <\/span>in<\/span> <\/span>operating<\/span><\/p>\n

costs<\/span> <\/span>and<\/span> <\/span>expenses<\/span><\/p>\n<\/td>\n

\n

67,445<\/span><\/p>\n<\/td>\n

<\/td>\n\n

26,479<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Non-GAAP<\/b> operating<\/b> costs<\/b> and<\/b> expenses<\/b><\/span><\/p>\n<\/td>\n

\n

1,447,587<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

233,568<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Loss<\/b> from<\/b> operations<\/b><\/span><\/p>\n<\/td>\n

\n

(126,857)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(28,323)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Share<\/span> <\/span>based<\/span> <\/span>compensation<\/span> <\/span>expenses<\/span><\/p>\n<\/td>\n

\n

67,445<\/span><\/p>\n<\/td>\n

<\/td>\n\n

26,479<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Non-GAAP<\/b> loss<\/b> from<\/b> operations<\/b> <\/span><\/p>\n<\/td>\n

\n

(59,412)<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

(1,844)<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Net<\/b> loss<\/b> attributable<\/b> to<\/b> TAL<\/b> Education<\/b> Group<\/b><\/span><\/p>\n<\/td>\n

\n

(102,078)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(43,829)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Share<\/span> <\/span>based<\/span> <\/span>compensation<\/span> <\/span>expenses<\/span><\/p>\n<\/td>\n

\n

67,445<\/span><\/p>\n<\/td>\n

<\/td>\n\n

26,479<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Non-GAAP<\/b> net<\/b> loss<\/b> attributable<\/b> to<\/b> TAL
<\/b>Education<\/b> Group<\/b><\/span><\/p>\n<\/td>\n

\n

$ (34,633)<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

$ (17,350)<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

 <\/p>\n

Net<\/b> loss<\/b> per<\/b> ADS<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Basic<\/span><\/p>\n<\/td>\n

\n

$ (0.16)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$ (0.07)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Diluted<\/span> <\/span><\/p>\n<\/td>\n

\n

(0.16)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(0.07)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Non-GAAP<\/b> Net<\/b> loss<\/b> per<\/b> ADS<\/b> <\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Basic<\/span><\/p>\n<\/td>\n

\n

$ (0.05)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$ (0.03)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Diluted<\/span> <\/span><\/p>\n<\/td>\n

\n

(0.05)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(0.03)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

ADSs<\/b> used<\/b> in<\/b> calculating<\/b> net<\/b> loss<\/b> per<\/b> ADS<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Basic<\/span><\/p>\n<\/td>\n

\n

644,946,571<\/span><\/p>\n<\/td>\n

<\/td>\n\n

645,187,809<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Diluted<\/span> <\/span><\/p>\n<\/td>\n

\n

644,946,571<\/span><\/p>\n<\/td>\n

<\/td>\n\n

645,187,809<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

ADSs<\/b> used<\/b> in<\/b> calculating<\/b> Non-GAAP<\/b> net<\/b> loss per<\/b> ADS<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Basic<\/span><\/p>\n<\/td>\n

\n

644,946,571<\/span><\/p>\n<\/td>\n

<\/td>\n\n

645,187,809<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Diluted<\/span> <\/span><\/p>\n<\/td>\n

\n

644,946,571<\/span><\/p>\n<\/td>\n

<\/td>\n\n

645,187,809<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n

\"Cision\" View original content:https:\/\/www.prnewswire.com\/news-releases\/tal-education-group-announces-unaudited-financial-results-for-the-first-fiscal-quarter-ended-may-31-2022-301595989.html<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

BEIJING, July 29, 2022 \/PRNewswire\/ — TAL Education Group (NYSE: TAL) (“TAL” or the “Company”), a smart learning solutions provider in China, today announced its unaudited financial results for the first quarter of fiscal year 2023 ended May 31, 2022. Highlights for the First Quarter of Fiscal Year 2023 –     Net revenues was US$224.0 million, […]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-10655","post","type-post","status-publish","format-standard","hentry","category-business-news"],"yoast_head":"\nTAL Education Group Announces Unaudited Financial Results for the First Fiscal Quarter Ended May 31, 2022 - My Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/transmediavictoria.net.au\/?p=10655\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TAL Education Group Announces Unaudited Financial Results for the First Fiscal Quarter Ended May 31, 2022 - My Blog\" \/>\n<meta property=\"og:description\" content=\"BEIJING, July 29, 2022 \/PRNewswire\/ — TAL Education Group (NYSE: TAL) (“TAL” or the “Company”), a smart learning solutions provider in China, today announced its unaudited financial results for the first quarter of fiscal year 2023 ended May 31, 2022. 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