Youdao (DAO) Operating Expenses (2018 - 2026)
Youdao (DAO) posted quarterly Operating Expenses of -$79.0 million for Q1 2026, down 12.34% year-over-year from -$90.1 million in Q1 2025, and up 14.4% quarter-over-quarter from -$92.3 million in Q4 2025.
Youdao (DAO) Operating Expenses (2018 - 2026) Analysis & Trends
Youdao (DAO) has reported Operating Expenses for 9 consecutive years, with -$79.0 million the latest figure, recorded in Q1 2026.
- In Q1 2026, Operating Expenses fell 12.34% year-over-year to -$79.0 million; the TTM figure through Mar 2026 stood at -$344.9 million (down 1.04% YoY), while the FY2025 annual figure was $342.6 million, down 3.82% from the prior year.
- Operating Expenses grew to -$79.0 million in Q1 2026 per DAO's latest filing, from -$92.3 million in the prior quarter.
- Across five years, Operating Expenses topped out at -$70.3 million in Q1 2025 and bottomed at -$137.7 million in Q3 2022.
- Historically, Operating Expenses has averaged -$101.5 million across 5 years, with a median of -$97.2 million in 2024.
- Annual changes were most pronounced in 2022 — Operating Expenses surged 31.72% — and 2025, when it fell 20.99%.
- Youdao's Operating Expenses stood at -$108.7 million in 2022, then grew by 14.19% to -$93.3 million in 2023, then climbed by 18.29% to -$76.3 million in 2024, then decreased by 20.99% to -$92.3 million in 2025, then grew by 14.4% to -$79.0 million in 2026.
- Business Quant data shows DAO's Operating Expenses at -$79.0 million in Q1 2026, -$92.3 million in Q4 2025, and -$92.7 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | New Oriental Education & Technology | 84.71 Bn | 82.71 Bn | 812.22 Mn | 1.44 Bn |
| 2 | 51Talk Online Education | 7.32 Bn | 7.28 Bn | 22.97 Mn | -24.40 Mn |
| 3 | Laureate Education | 5.21 Bn | 5.05 Bn | 237.67 Mn | 14.24 Mn |
| 4 | Graham Holdings | 4.98 Bn | 3.74 Bn | 777.03 Mn | 1.22 Bn |
| 5 | Covista | 4.66 Bn | 4.66 Bn | 284.63 Mn | 405.94 Mn |
| 6 | Grand Canyon Education | 3.78 Bn | 3.50 Bn | 204.08 Mn | 205.89 Mn |
| 7 | Stride | 3.50 Bn | 2.55 Bn | 217.28 Mn | 111.43 Mn |
| 8 | McGraw Hill | 2.38 Bn | 2.13 Bn | 388.89 Mn | 395.25 Mn |
| 9 | TAL Education | 2.28 Bn | -401.26 Mn | 227.32 Mn | 243.19 Mn |
| 10 | Youdao | 2.08 Bn | 2.00 Bn | 87.31 Mn | -78.98 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -78.98 Mn |
| Dec 31, 2025 | -92.26 Mn |
| Sep 30, 2025 | -92.65 Mn |
| Jun 30, 2025 | -81.04 Mn |
| Mar 31, 2025 | -70.31 Mn |
| Dec 31, 2024 | -76.25 Mn |
| Sep 30, 2024 | -97.21 Mn |
| Jun 30, 2024 | -97.61 Mn |
| Mar 31, 2024 | -90.24 Mn |
| Dec 31, 2023 | -93.31 Mn |
| Sep 30, 2023 | -125.73 Mn |
| Jun 30, 2023 | -118.09 Mn |
| Mar 31, 2023 | -116.15 Mn |
| Dec 31, 2022 | -108.74 Mn |
| Sep 30, 2022 | -137.66 Mn |
| Jun 30, 2022 | -129.13 Mn |
| Mar 31, 2022 | -120.98 Mn |
| Dec 31, 2021 | -108.84 Mn |
| Sep 30, 2021 | -141.98 Mn |
| Jun 30, 2021 | -189.13 Mn |