{"id":702436,"date":"2022-10-28T04:04:49","date_gmt":"2022-10-28T08:04:49","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/tal-education-group-announces-unaudited-financial-results-for-the-second-fiscal-quarter-ended-august-31-2022\/"},"modified":"2022-10-28T04:04:49","modified_gmt":"2022-10-28T08:04:49","slug":"tal-education-group-announces-unaudited-financial-results-for-the-second-fiscal-quarter-ended-august-31-2022","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/tal-education-group-announces-unaudited-financial-results-for-the-second-fiscal-quarter-ended-august-31-2022\/","title":{"rendered":"TAL Education Group Announces Unaudited Financial Results for the Second Fiscal Quarter Ended August 31, 2022"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n
\n BEIJING<\/span>
\n <\/span>, Oct. 28, 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 second quarter of fiscal year 2023 ended August 31, 2022<\/span>.<\/p>\n

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

–\u00a0 \u00a0 \u00a0Net revenues was US$294.1 million<\/span>, compared to net revenues of US$1,443.9 million<\/span> in the same period of the prior year.<\/p>\n

–\u00a0 \u00a0 \u00a0Income from operations was US$14.9 million<\/span>, compared to loss from operations of US$379.9 million<\/span> in the same period of the prior year.<\/p>\n

–\u00a0 \u00a0 \u00a0Non-GAAP income from operations, which excluded share-based compensation expenses, was US$42.3 million<\/span>, compared to non-GAAP loss from operations of US$313.4 million<\/span> in the same period of the prior year.<\/p>\n

–\u00a0 \u00a0 \u00a0Net loss attributable to TAL was US$0.8 million<\/span>, compared to net loss attributable to TAL of US$826.5 million<\/span> in the same period of the prior year.<\/p>\n

–\u00a0 \u00a0 \u00a0Non-GAAP net income attributable to TAL, which excluded share-based compensation expenses,\u00a0was US$26.6 million<\/span>, compared to\u00a0non-GAAP net loss attributable to TAL of US$760.1 million<\/span> in the same period of the prior year.<\/p>\n

–\u00a0 \u00a0 \u00a0Basic and diluted net loss per American Depositary Share (“ADS”) were both US$0.00<\/span>. Non-GAAP basic and diluted net income per ADS, which excluded share-based compensation expenses, were both US$0.04<\/span>. Three ADSs represent one Class A common share.<\/p>\n

–\u00a0 \u00a0 \u00a0Cash, cash equivalents and short-term investments totaled US$3,086.6 million<\/span> as of August 31, 2022<\/span>, compared to US$2,708.7 million<\/span> as of February 28, 2022<\/span>.<\/p>\n

\u00a0<\/p>\n

\n Highlights for the Six Months Ended August 31, 2022<\/span><\/b>\n <\/p>\n

–\u00a0 \u00a0 \u00a0Net revenues was US$518.1 million<\/span>, compared to net revenues of US$2,828.8 million<\/span> in the same period of the prior year.<\/p>\n

–\u00a0 \u00a0 \u00a0Loss from operations was US$13.4 million<\/span>, compared to loss from operations of US$506.7 million<\/span> in the same period of the prior year.<\/p>\n

–\u00a0 \u00a0 \u00a0Non-GAAP income from operations, which excluded share-based compensation expenses, was US$40.5 million<\/span>, compared to non-GAAP loss from operations of US$372.9 million<\/span> in the same period of the prior year.<\/p>\n

–\u00a0 \u00a0 \u00a0Net loss attributable to TAL was US$44.6 million<\/span>, compared to net loss attributable to TAL of US$928<\/span>.6\u00a0million in the same period of the prior year.<\/p>\n

–\u00a0 \u00a0 \u00a0Non-GAAP net income attributable to TAL, which excluded share-based compensation expenses, was US$9.3 million<\/span>, compared to non-GAAP net loss attributable to TAL of US$794.7 million<\/span> in the same period of the prior year.<\/p>\n

–\u00a0 \u00a0 \u00a0Basic and diluted net loss per ADS were both US$0.07<\/span>. Non-GAAP basic and diluted net income per ADS, excluding share-based compensation expenses, were both US$0.01<\/span>.<\/p>\n

\u00a0<\/p>\n

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

\n
\n Financial Data\u2014\u2014<\/b>
\n Second<\/b>
\n \u00a0Quarter <\/b>
\n and First Six Months<\/b>
\n \u00a0of Fiscal Year 2023<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

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

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

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

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

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

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

\n

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

\n

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

\n

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

\n

\n 1,443,880<\/span>\n <\/p>\n<\/td>\n

\n

\n 294,060<\/span>\n <\/p>\n<\/td>\n

\n

\n (79.6\u00a0%)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n (Loss)\/income from operations<\/span>\n <\/p>\n<\/td>\n

\n

\n (379,874)<\/span>\n <\/p>\n<\/td>\n

\n

\n 14,891<\/span>\n <\/p>\n<\/td>\n

\n

\n (103.9\u00a0%)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

\n (313,440)<\/span>\n <\/p>\n<\/td>\n

\n

\n 42,315<\/span>\n <\/p>\n<\/td>\n

\n

\n (113.5\u00a0%)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

\n (826,546)<\/span>\n <\/p>\n<\/td>\n

\n

\n (787)<\/span>\n <\/p>\n<\/td>\n

\n

\n (99.9\u00a0%)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

\n (760,112)<\/span>\n <\/p>\n<\/td>\n

\n

\n 26,637<\/span>\n <\/p>\n<\/td>\n

\n

\n (103.5\u00a0%)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

\n (1.29)<\/span>\n <\/p>\n<\/td>\n

\n

\n (0.00)<\/span>\n <\/p>\n<\/td>\n

\n

\n (99.9\u00a0%)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

\n (1.29)<\/span>\n <\/p>\n<\/td>\n

\n

\n (0.00)<\/span>\n <\/p>\n<\/td>\n

\n

\n (99.9\u00a0%)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

\n (1.18)<\/span>\n <\/p>\n<\/td>\n

\n

\n 0.04<\/span>\n <\/p>\n<\/td>\n

\n

\n (103.5\u00a0%)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

\n (1.18)<\/span>\n <\/p>\n<\/td>\n

\n

\n 0.04<\/span>\n <\/p>\n<\/td>\n

\n

\n (103.5\u00a0%)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

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

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

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

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

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

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

\n

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

\n

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

\n

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

\n

\n 2,828,823<\/span>\n <\/p>\n<\/td>\n

\n

\n 518,105<\/span>\n <\/p>\n<\/td>\n

\n

\n (81.7\u00a0%)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

\n (506,731)<\/span>\n <\/p>\n<\/td>\n

\n

\n (13,432)<\/span>\n <\/p>\n<\/td>\n

\n

\n (97.3\u00a0%)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

\n (372,852)<\/span>\n <\/p>\n<\/td>\n

\n

\n 40,471<\/span>\n <\/p>\n<\/td>\n

\n

\n (110.9\u00a0%)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

\n (928,624)<\/span>\n <\/p>\n<\/td>\n

\n

\n (44,616)<\/span>\n <\/p>\n<\/td>\n

\n

\n (95.2\u00a0%)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

\n (794,745)<\/span>\n <\/p>\n<\/td>\n

\n

\n 9,287<\/span>\n <\/p>\n<\/td>\n

\n

\n (101.2\u00a0%)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

\n (1.44)<\/span>\n <\/p>\n<\/td>\n

\n

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

\n

\n (95.2\u00a0%)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

\n (1.44)<\/span>\n <\/p>\n<\/td>\n

\n

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

\n

\n (95.2\u00a0%)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

\n (1.23)<\/span>\n <\/p>\n<\/td>\n

\n

\n 0.01<\/span>\n <\/p>\n<\/td>\n

\n

\n (101.2\u00a0%)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

\n (1.23)<\/span>\n <\/p>\n<\/td>\n

\n

\n 0.01<\/span>\n <\/p>\n<\/td>\n

\n

\n (101.2\u00a0%)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

“Our business has shown a healthy momentum in this quarter. We will continue to invest in learning services, learning content solutions and learning technology solutions to lay the foundation for long-term growth.” said Alex Peng<\/span>, TAL’s President & Chief Financial Officer.<\/p>\n

Mr. Peng added: “We recently announced our new mission of ‘to empower life-long growth with love and technology’ and our new vision of ‘to become an organization driving continuous innovation’. We will continue to develop our current product and service portfolio, while, in alignment with our new mission and vision, exploring new initiatives in and beyond the learning solutions market.”<\/p>\n

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

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

In the second quarter of fiscal year 2023, TAL reported net revenues of US$294.1 million<\/span>, representing a 79.6% decrease from US$1,443.9 million<\/span> in the second quarter of fiscal year 2022.<\/p>\n

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

In the second quarter of fiscal year 2023, operating costs and expenses were US$292.4 million<\/span>, representing an 84.0% decrease from US$1,825.6 million<\/span> in the second quarter of fiscal year 2022. Non-GAAP operating costs and expenses, which excluded share-based compensation expenses, were US$265.0 million<\/span>, representing an 84.9% decrease from US$1,759.2 million<\/span> in the second quarter of fiscal year 2022.<\/p>\n

Cost of revenues decreased by 86.6% to US$117.1 million<\/span> from US$872.6 million<\/span> in the second quarter of fiscal year 2022. Non-GAAP cost of revenues, which excluded share-based compensation expenses, decreased by 86.9% to US$114.5 million<\/span>, from US$872.3 million<\/span> in the second quarter of fiscal year 2022.<\/p>\n

Selling and marketing expenses decreased by 74.8% to US$78.1 million<\/span> from US$309.7 million<\/span> in the second quarter of fiscal year 2022. Non-GAAP selling and marketing expenses, which excluded share-based compensation expenses, decreased by 75.5% to US$69.8 million<\/span>, from US$285.2 million<\/span> in the second quarter of fiscal year 2022.<\/p>\n

General and administrative expenses decreased by 72.7% to US$97.2 million<\/span> from US$356.5 million<\/span> in the second quarter of fiscal year 2022. Non-GAAP general and administrative expenses, which excluded share-based compensation expenses, decreased by 74.4% to US$80.7 million<\/span>, from US$314.9 million<\/span> in the second quarter of fiscal year 2022.<\/p>\n

Total share-based compensation expenses allocated to the related operating costs and expenses decreased by 58.7% to US$27.4 million<\/span> in the second quarter of fiscal year 2023 from US$66.4 million<\/span> in the same period of fiscal year 2022.<\/p>\n

Impairment loss on intangible assets and goodwill was nil for the second quarter of fiscal year 2023, compared to US$286.8 million<\/span> for the second quarter of fiscal year 2022.<\/p>\n

\n
\n Gross Profit\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/i>
\n <\/b>\n <\/p>\n

Gross profit decreased by 69.0% to US$176.9 million<\/span> from US$571.3 million<\/span> in the second quarter of fiscal year 2022.<\/p>\n

\n
\n (Loss)\/Income<\/span> from Operations<\/i>
\n <\/b>\n <\/p>\n

Income from operations was US$14.9 million<\/span> in the second quarter of fiscal year 2023, compared to loss from operations of US$379.9 million<\/span> in the second quarter of fiscal year 2022. Non-GAAP income\u00a0from operations, which excluded share-based compensation expenses, was US$42.3 million<\/span>, compared to Non-GAAP loss from operations of US$313.4 million<\/span> in the same period of the prior year.<\/p>\n

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

Other expense\u00a0was US$25.7million<\/span> for the second quarter of fiscal year 2023, compared to other expense of US$30.7 million<\/span> in the second quarter of fiscal year 2022.<\/p>\n

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

Impairment loss on Long-term investment was US$6.6 million<\/span> for the second quarter of fiscal year 2023, compared to US$154.9 million<\/span> for the same period of fiscal year 2022.<\/p>\n

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

Income tax expense was US$4.5 million<\/span> in the second quarter of fiscal year 2023, compared to US$310.4 million<\/span> of income tax expense in the second quarter of fiscal year 2022.<\/p>\n

\n
\n Net (Loss)\/Income <\/span>attributable to TAL<\/i>
\n <\/b>\n <\/p>\n

Net loss attributable to TAL was US$0.8 million<\/span> in the second quarter of fiscal year 2023, compared to net loss attributable to TAL of US$826.5 million<\/span> in the second quarter of fiscal year 2022. Non-GAAP net income attributable to TAL, which excluded share-based compensation expenses, was US$26.6 million<\/span>, compared to Non-GAAP net loss attributable to TAL of US$760.1 million<\/span> in the second quarter of fiscal year 2022.<\/p>\n

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

Basic and diluted net loss per ADS were both US$0.00<\/span> in the second quarter of fiscal year 2023. Non-GAAP basic and diluted net income per ADS, which excluded share-based compensation expenses, were both US$0.04<\/span> in the second quarter of fiscal year 2023.<\/p>\n

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

As of August 31, 2022<\/span>, the Company had US$1,759.3 million<\/span> of cash and cash equivalents and US$1,327.3 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

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

As of August 31, 2022<\/span>, the Company’s deferred revenue balance was US$177.5 million<\/span>, compared to US$187.7 million<\/span> as of February 28, 2022<\/span>.<\/p>\n

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

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

For the first six months of fiscal year 2023, TAL reported net revenues of\u00a0US$518.1 million, representing an 81.7% decrease from\u00a0US$2,828.8 million\u00a0in the first six months of fiscal year 2022.<\/p>\n

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

In the first six months of fiscal year 2023, operating costs and expenses were\u00a0US$552.5 million, an 83.5% decrease from\u00a0US$3,340.6 million\u00a0in the first six months of fiscal year 2022. Non-GAAP operating costs and expenses, which excluded share-based compensation expenses, were\u00a0US$498.6 million, an 84.5% decrease from\u00a0US$3,206.7 million\u00a0in the first six months of fiscal year 2022.<\/p>\n

Cost of revenues decreased by 86.2% to\u00a0US$205.7 million\u00a0from\u00a0US$1,485.8 million\u00a0in the first six months of fiscal year 2022. Non-GAAP cost of revenues, which excluded share-based compensation expenses, decreased by 86.5% to\u00a0US$200.7 million\u00a0from\u00a0US$1,485.0 million\u00a0in the first six months of fiscal year 2022.<\/p>\n

Selling and marketing expenses decreased by 81.4% to\u00a0US$138.1 million\u00a0from\u00a0US$741.0 million\u00a0in the first six months of fiscal year 2022. Non-GAAP selling and marketing expenses, which excluded share-based compensation expenses, decreased by 82.4% to\u00a0US$121.7 million\u00a0from\u00a0US$692.6 million\u00a0in the first six months of fiscal year 2022.<\/p>\n

General and administrative expenses decreased by 69.7% to\u00a0US$208.7 million\u00a0from\u00a0US$687.6 million\u00a0in the first six months of fiscal year 2022. Non-GAAP general and administrative expenses, which excluded share-based compensation expenses, decreased by 70.8% to\u00a0US$176.1 million\u00a0from\u00a0US$602.9 million\u00a0in the first six months of fiscal year 2022.<\/p>\n

Total share-based compensation expenses allocated to the related operating costs and expenses decreased by 59.7% to\u00a0US$53.9 million\u00a0in the first six months of fiscal year 2023 from\u00a0US$133.9 million\u00a0in the same period of fiscal year 2022.<\/p>\n

Impairment loss on intangible assets and goodwill was nil for the first six months of fiscal year 2023, compared to US$426.2 million<\/span> for the same period of fiscal year 2022.<\/p>\n

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

Gross profit decreased by 76.7% to\u00a0US$312.4 million\u00a0from\u00a0US$1,343.1 million\u00a0in the first six months of fiscal year 2022.<\/p>\n

\n
\n (Loss)\/Income<\/span> from Operations<\/i>
\n <\/b>\n <\/p>\n

Loss from operations was\u00a0US$13.4 million\u00a0in the first six months of fiscal year 2023, compared to loss from operations of\u00a0US$506.7 million\u00a0in the same period of the prior year. Non-GAAP income from operations, which excluded share-based compensation expenses, was\u00a0US$40.5 million, compared to\u00a0US$372.9 million Non-GAAP loss from operations\u00a0in the same period of the prior year.<\/p>\n

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

Other expense was\u00a0US$52.5 million\u00a0for the first six months of fiscal year 2023, compared to other income of US$8.1 million<\/span> in the same period of the prior year.<\/p>\n

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

Impairment loss on long-term investments was\u00a0US$6.6 million for the first six months of fiscal year 2023, compared to\u00a0US$178.1 million\u00a0for the first six months of fiscal year 2022.<\/p>\n

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

Income tax expense was\u00a0US$6.8 million\u00a0in the first six months of fiscal year 2023, compared to\u00a0US$341.6 million\u00a0of income tax expense in the first six months of fiscal year 2022.<\/p>\n

\n
\n Net (Loss)\/Income Attributable to\u00a0TAL Education Group<\/i>
\n <\/b>\n <\/p>\n

Net loss attributable to TAL was\u00a0US$44.6 million\u00a0in the first six months of fiscal year 2023, compared to net loss attributable to TAL of\u00a0US$928.6 million\u00a0in the first six months of fiscal year 2022. Non-GAAP net income attributable to TAL, which excluded share-based compensation expenses, was US$9.3 million<\/span>,\u00a0compared to\u00a0US$794.7 million Non-GAAP loss attributable to TAL\u00a0in the same period of the prior year.<\/p>\n

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

Basic and diluted net loss per ADS were both\u00a0US$0.07 in the first six months of fiscal year 2023. Non-GAAP basic and diluted net income per ADS, which excluded share-based compensation expenses, were\u00a0both US$0.01<\/span>.<\/p>\n

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

The Company will host a conference call and live webcast to discuss its financial results for the second fiscal quarter of fiscal year 2023 ended August 31, 2022<\/span> at 8:00 a.m. Eastern Time<\/span> on October 28, 2022<\/span> (8:00 p.m.<\/span>Beijing<\/span> time on October 28, 2022<\/span>).<\/p>\n

Please note that you will need to pre-register for conference call participation at https:\/\/register.vevent.com\/register\/BI60d8b93968b145e994b6c9c02b8aa42e<\/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

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

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

TAL Education Group\u00a0is 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.\u00a0TAL Education Group\u00a0offers 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\u00a0New York Stock Exchange\u00a0under the symbol “TAL”.<\/p>\n

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

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

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

\u00a0<\/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

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

\n

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

\n

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

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

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

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

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

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

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

\n

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

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

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

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

\n \u00a0 \u00a0Cash and cash equivalents<\/span>\n <\/p>\n<\/td>\n

\n

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

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

\n $ 1,759,255<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

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

\n 207,816<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

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

\n 1,327,275<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 \u00a0 Inventory<\/span>\n <\/p>\n<\/td>\n

\n

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

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

\n 30,828<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

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

\n 324<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 \u00a0 Income tax receivables<\/span>\n <\/p>\n<\/td>\n

\n

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

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

\n 28<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 \u00a0 Prepaid expenses and other current assets<\/span>\n <\/p>\n<\/td>\n

\n

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

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

\n 141,386<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

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

\n 3,466,912<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Restricted cash-non-current<\/span>\n <\/p>\n<\/td>\n

\n

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

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

\n 158,391<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Property and equipment, net<\/span>\n <\/p>\n<\/td>\n

\n

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

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

\n 262,606<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Deferred tax assets<\/span>\n <\/p>\n<\/td>\n

\n

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

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

\n 3,202<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Rental deposits<\/span>\n <\/p>\n<\/td>\n

\n

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

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

\n 13,833<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Intangible assets, net<\/span>\n <\/p>\n<\/td>\n

\n

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

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

\n 824<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Land use right, net<\/span>\n <\/p>\n<\/td>\n

\n

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

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

\n 197,213<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Amounts due from related parties- non-current<\/span>\n <\/p>\n<\/td>\n

\n

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

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

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

\n

\n \u00a0 Long-term investments<\/span>\n <\/p>\n<\/td>\n

\n

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

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

\n 464,467<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Long-term prepayments and other non-current assets<\/span>\n <\/p>\n<\/td>\n

\n

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

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

\n 2,627<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Operating lease right-of-use assets<\/span>\n <\/p>\n<\/td>\n

\n

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

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

\n 148,715<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

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

\n $ 4,718,790<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

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

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

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

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

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

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

\n

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

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

\n $ 73,692<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

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

\n 177,530<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

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

\n 102<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

\n 558,718<\/span>\n <\/p>\n<\/td>\n

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

\n 463,711<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

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

\n 39,955<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

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

\n 754,990<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

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

\n 12<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

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

\n 4,112<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

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

\n 120,566<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

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

\n 879,680<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

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

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

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

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

\n

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

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

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

\n

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

\n

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

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

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

\n

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

\n

\n –<\/span>\n <\/p>\n<\/td>\n

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

\n (5)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

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

\n 4,357,850<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

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

\n 153,487<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

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

\n (588,050)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

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

\n (57,671)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

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

\n 3,865,827<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

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

\n (26,717)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

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

\n 3,839,110<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

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

\n $ 4,718,790<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

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

\u00a0<\/p>\n

\u00a0<\/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 TAL EDUCATION GROUP<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

\n
\n (In thousands of U.S. dollars, except share, ADS, per share and per ADS data)<\/b>\u00a0<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

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

\n
\n
\n For the Three Months Ended\u00a0<\/span>
\n <\/b>
\n <\/span>\n <\/p>\n

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

\n

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

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

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

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

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

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

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

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

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

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

\n

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

\n

\n $ 1,443,880<\/span>\n <\/p>\n<\/td>\n

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

\n $ 294,060<\/span>\n <\/p>\n<\/td>\n

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

\n $ 2,828,823<\/span>\n <\/p>\n<\/td>\n

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

\n $ 518,105<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

\n 872,628<\/span>\n <\/p>\n<\/td>\n

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

\n 117,132<\/span>\n <\/p>\n<\/td>\n

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

\n 1,485,769<\/span>\n <\/p>\n<\/td>\n

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

\n 205,690<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

\n 571,252<\/span>\n <\/p>\n<\/td>\n

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

\n 176,928<\/span>\n <\/p>\n<\/td>\n

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

\n 1,343,054<\/span>\n <\/p>\n<\/td>\n

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

\n 312,415<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n \u00a0 Selling and marketing<\/span>\n <\/p>\n<\/td>\n

\n

\n 309,688<\/span>\n <\/p>\n<\/td>\n

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

\n 78,087<\/span>\n <\/p>\n<\/td>\n

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

\n 741,037<\/span>\n <\/p>\n<\/td>\n

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

\n 138,126<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 General and administrative<\/span>\n <\/p>\n<\/td>\n

\n

\n 356,499<\/span>\n <\/p>\n<\/td>\n

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

\n 97,206<\/span>\n <\/p>\n<\/td>\n

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

\n 687,632<\/span>\n <\/p>\n<\/td>\n

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

\n 208,656<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 \u00a0 Impairment loss on intangible <\/span>\n <\/p>\n

\n assets and goodwill<\/span>\n <\/p>\n<\/td>\n

\n

\u00a0<\/p>\n

\n 286,781<\/span>\n <\/p>\n<\/td>\n

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

\u00a0<\/p>\n

\n –<\/span>\n <\/p>\n<\/td>\n

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

\u00a0<\/p>\n

\n 426,190<\/span>\n <\/p>\n<\/td>\n

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

\u00a0<\/p>\n

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

\n

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

\n

\n 952,968<\/span>\n <\/p>\n<\/td>\n

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

\n 175,293<\/span>\n <\/p>\n<\/td>\n

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

\n 1,854,859<\/span>\n <\/p>\n<\/td>\n

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

\n 346,782<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

\n 1,842<\/span>\n <\/p>\n<\/td>\n

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

\n 13,256<\/span>\n <\/p>\n<\/td>\n

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

\n 5,074<\/span>\n <\/p>\n<\/td>\n

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

\n 20,935<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n (Loss)\/income from operations<\/span>\n <\/p>\n<\/td>\n

\n

\n (379,874)<\/span>\n <\/p>\n<\/td>\n

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

\n 14,891<\/span>\n <\/p>\n<\/td>\n

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

\n (506,731)<\/span>\n <\/p>\n<\/td>\n

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

\n (13,432)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

\n 35,296<\/span>\n <\/p>\n<\/td>\n

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

\n 12,445<\/span>\n <\/p>\n<\/td>\n

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

\n 71,897<\/span>\n <\/p>\n<\/td>\n

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

\n 25,508<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

\n (2,878)<\/span>\n <\/p>\n<\/td>\n

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

\n –<\/span>\n <\/p>\n<\/td>\n

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

\n (6,050)<\/span>\n <\/p>\n<\/td>\n

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

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

\n

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

\n

\n (30,731)<\/span>\n <\/p>\n<\/td>\n

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

\n (25,715)<\/span>\n <\/p>\n<\/td>\n

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

\n 8,091<\/span>\n <\/p>\n<\/td>\n

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

\n (52,504)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Gain from disposal of a subsidiary<\/span>\n <\/p>\n<\/td>\n

\n

\n –<\/span>\n <\/p>\n<\/td>\n

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

\n 9,550<\/span>\n <\/p>\n<\/td>\n

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

\n –<\/span>\n <\/p>\n<\/td>\n

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

\n 9,550<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Impairment loss on long-term
\u00a0 \u00a0 investments<\/span>\n <\/p>\n<\/td>\n

\n

\u00a0<\/p>\n

\n (154,881)<\/span>\n <\/p>\n<\/td>\n

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

\u00a0<\/p>\n

\n (6,610)<\/span>\n <\/p>\n<\/td>\n

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

\u00a0<\/p>\n

\n (178,063)<\/span>\n <\/p>\n<\/td>\n

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

\u00a0<\/p>\n

\n (6,610)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n (Loss)\/income before income tax
\u00a0 \u00a0expense and income\/(loss) from
\u00a0 \u00a0equity method investments<\/span>\n <\/p>\n<\/td>\n

\n

\n (533,068)<\/span>\n <\/p>\n<\/td>\n

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

\n 4,561<\/span>\n <\/p>\n<\/td>\n

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

\n (610,856)<\/span>\n <\/p>\n<\/td>\n

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

\n (37,488)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

\n (310,354)<\/span>\n <\/p>\n<\/td>\n

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

\n (4,487)<\/span>\n <\/p>\n<\/td>\n

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

\n (341,558)<\/span>\n <\/p>\n<\/td>\n

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

\n (6,803)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Income\/(loss) from equity method
\u00a0 \u00a0investments<\/span>\n <\/p>\n<\/td>\n

\n

\n 4,120<\/span>\n <\/p>\n<\/td>\n

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

\n (932)<\/span>\n <\/p>\n<\/td>\n

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

\n 4,048<\/span>\n <\/p>\n<\/td>\n

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

\n 521<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

\n (839,302)<\/span>\n <\/p>\n<\/td>\n

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

\n (858)<\/span>\n <\/p>\n<\/td>\n

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

\n (948,366)<\/span>\n <\/p>\n<\/td>\n

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

\n (43,770)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Add: Net loss\/(income)
<\/span>
\n <\/span>
\n \u00a0 attributable to noncontrolling
\u00a0 interest<\/span>\n <\/p>\n<\/td>\n

\n

\n 12,756<\/span>\n <\/p>\n<\/td>\n

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

\n 71<\/span>\n <\/p>\n<\/td>\n

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

\n 19,742<\/span>\n <\/p>\n<\/td>\n

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

\n (846)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Total net loss attributable to
\u00a0 \u00a0 TAL Education Group<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n $ (826,546)<\/span>\n <\/p>\n<\/td>\n

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

\n $ (787)<\/span>\n <\/p>\n<\/td>\n

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

\n $ (928,624)<\/span>\n <\/p>\n<\/td>\n

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

\n $ (44,616)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n \u00a0 Basic<\/span>\n <\/p>\n<\/td>\n

\n

\n $ (3.86)<\/span>\n <\/p>\n<\/td>\n

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

\n $ (0.00)<\/span>\n <\/p>\n<\/td>\n

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

\n $ (4.33)<\/span>\n <\/p>\n<\/td>\n

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

\n $ (0.21)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Diluted<\/span>\n <\/p>\n<\/td>\n

\n

\n (3.86)<\/span>\n <\/p>\n<\/td>\n

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

\n (0.00)<\/span>\n <\/p>\n<\/td>\n

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

\n (4.33)<\/span>\n <\/p>\n<\/td>\n

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

\n (0.21)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

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

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

\n

\n $ (1.29)<\/span>\n <\/p>\n<\/td>\n

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

\n $ (0.00)<\/span>\n <\/p>\n<\/td>\n

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

\n $ (1.44)<\/span>\n <\/p>\n<\/td>\n

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

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

\n

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

\n

\n (1.29)<\/span>\n <\/p>\n<\/td>\n

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

\n (0.00)<\/span>\n <\/p>\n<\/td>\n

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

\n (1.44)<\/span>\n <\/p>\n<\/td>\n

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

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

\u00a0<\/p>\n

\u00a0<\/p>\n

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

\n Weighted average shares used in
\u00a0 \u00a0calculating net loss per
\u00a0 \u00a0common share<\/span>\n <\/p>\n<\/td>\n

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

\n \u00a0 \u00a0 Basic<\/span>\n <\/p>\n<\/td>\n

\n

\n 214,204,714<\/span>\n <\/p>\n<\/td>\n

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

\n 211,620,275<\/span>\n <\/p>\n<\/td>\n

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

\n 214,593,452<\/span>\n <\/p>\n<\/td>\n

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

\n 213,341,439<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 \u00a0 Diluted<\/span>\n <\/p>\n<\/td>\n

\n

\n 214,204,714<\/span>\n <\/p>\n<\/td>\n

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

\n 211,620,275<\/span>\n <\/p>\n<\/td>\n

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

\n 214,593,452<\/span>\n <\/p>\n<\/td>\n

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

\n 213,341,439<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

\u00a0<\/p>\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>\n <\/p>\n<\/td>\n<\/tr>\n

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

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

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

\n
\n For the Six<\/b>\u00a0Months<\/b><\/span>\n <\/p>\n<\/td>\n<\/tr>\n

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

\n
\n Ended August<\/b>\u00a031<\/b>,<\/b><\/span>\n <\/p>\n<\/td>\n

\n

\n
\n Ended \u00a0August<\/b>\u00a031<\/b>,<\/b><\/span>\n <\/p>\n<\/td>\n<\/tr>\n

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

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

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

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

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

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

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

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

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

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

\n

\n $ 351<\/span>\n <\/p>\n<\/td>\n

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

\n $ 2,587<\/span>\n <\/p>\n<\/td>\n

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

\n $ 734<\/span>\n <\/p>\n<\/td>\n

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

\n $ 4,980<\/span>\n <\/p>\n<\/td>\n

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

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

\n

\n 24,460<\/span>\n <\/p>\n<\/td>\n

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

\n 8,296<\/span>\n <\/p>\n<\/td>\n

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

\n 48,432<\/span>\n <\/p>\n<\/td>\n

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

\n 16,377<\/span>\n <\/p>\n<\/td>\n

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

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

\n

\n 41,623<\/span>\n <\/p>\n<\/td>\n

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

\n 16,541<\/span>\n <\/p>\n<\/td>\n

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

\n 84,713<\/span>\n <\/p>\n<\/td>\n

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

\n 32,546<\/span>\n <\/p>\n<\/td>\n

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

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

\n

\n $ 66,434<\/span>\n <\/p>\n<\/td>\n

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

\n $ 27,424<\/span>\n <\/p>\n<\/td>\n

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

\n $ 133,879<\/span>\n <\/p>\n<\/td>\n

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

\n $ 53,903<\/span>\n <\/p>\n<\/td>\n

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

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

\u00a0<\/p>\n

\u00a0<\/p>\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>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n UNAUDITED CONDENSED CONSOLIDATED\u00a0STATEMENTS OF<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

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

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

\n
\n August<\/b>\u00a031<\/b>,<\/b><\/span>\n <\/p>\n<\/td>\n

\n

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

\n
\n August<\/b>\u00a031<\/b>,<\/b><\/span>\n <\/p>\n<\/td>\n<\/tr>\n

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

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

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

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

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

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

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

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

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

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

\n

\n $ (839,302)<\/span>\n <\/p>\n<\/td>\n

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

\n $ (858)<\/span>\n <\/p>\n<\/td>\n

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

\n $ (948,366)<\/span>\n <\/p>\n<\/td>\n

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

\n $ (43,770)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Other comprehensive loss, net
\u00a0 of tax<\/span>\n <\/p>\n<\/td>\n

\n

\n (39,540)<\/span>\n <\/p>\n<\/td>\n

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

\n (55,912)<\/span>\n <\/p>\n<\/td>\n

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

\n (23,845)<\/span>\n <\/p>\n<\/td>\n

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

\n (116,738)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

\n (878,842)<\/span>\n <\/p>\n<\/td>\n

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

\n (56,770)<\/span>\n <\/p>\n<\/td>\n

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

\n (972,211)<\/span>\n <\/p>\n<\/td>\n

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

\n (160,508)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Add: Comprehensive loss
\u00a0 \u00a0\/(income) attributable to
\u00a0 \u00a0noncontrolling interest<\/span>\n <\/p>\n<\/td>\n

\n

\n 12,640<\/span>\n <\/p>\n<\/td>\n

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

\n (882)<\/span>\n <\/p>\n<\/td>\n

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

\n 19,749<\/span>\n <\/p>\n<\/td>\n

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

\n (3,396)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Comprehensive <\/b>
\n loss
\u00a0 attributable to TAL
\u00a0 Education Group<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n $ (866,202)<\/span>\n <\/p>\n<\/td>\n

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

\n $ (57,652)<\/span>\n <\/p>\n<\/td>\n

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

\n $ (952,462)<\/span>\n <\/p>\n<\/td>\n

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

\n $ (163,904)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

\u00a0<\/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 TAL EDUCATION GROUP<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

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

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

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

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

\n
\n For the Six Months
Ended August 31,<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

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

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

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

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

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

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

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

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

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

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

\n

\n $ 872,628<\/span>\n <\/p>\n<\/td>\n

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

\n $ 117,132<\/span>\n <\/p>\n<\/td>\n

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

\n $ 1,485,769<\/span>\n <\/p>\n<\/td>\n

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

\n $ 205,690<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Share-based compensation expense
\u00a0 \u00a0in cost of revenues<\/span>\n <\/p>\n<\/td>\n

\n

\u00a0<\/p>\n

\n 351<\/span>\n <\/p>\n<\/td>\n

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

\u00a0<\/p>\n

\n 2,587<\/span>\n <\/p>\n<\/td>\n

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

\u00a0<\/p>\n

\n 734<\/span>\n <\/p>\n<\/td>\n

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

\u00a0<\/p>\n

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

\n

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

\n

\n 872,277<\/span>\n <\/p>\n<\/td>\n

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

\n 114,545<\/span>\n <\/p>\n<\/td>\n

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

\n 1,485,035<\/span>\n <\/p>\n<\/td>\n

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

\n 200,710<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

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

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

\n

\n 309,688<\/span>\n <\/p>\n<\/td>\n

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

\n 78,087<\/span>\n <\/p>\n<\/td>\n

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

\n 741,037<\/span>\n <\/p>\n<\/td>\n

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

\n 138,126<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Share-based compensation expense
\u00a0 \u00a0in selling and marketing expenses<\/span>\n <\/p>\n<\/td>\n

\n

\u00a0<\/p>\n

\n 24,460<\/span>\n <\/p>\n<\/td>\n

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

\u00a0<\/p>\n

\n 8,296<\/span>\n <\/p>\n<\/td>\n

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

\u00a0<\/p>\n

\n 48,432<\/span>\n <\/p>\n<\/td>\n

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

\u00a0<\/p>\n

\n 16,377<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

\u00a0<\/p>\n

\n 285,228<\/span>\n <\/p>\n<\/td>\n

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

\u00a0<\/p>\n

\n 69,791<\/span>\n <\/p>\n<\/td>\n

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

\u00a0<\/p>\n

\n 692,605<\/span>\n <\/p>\n<\/td>\n

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

\u00a0<\/p>\n

\n 121,749<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0<\/span>\n <\/p>\n

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

\n

\u00a0<\/p>\n

\u00a0<\/p>\n

\n 356,499<\/span>\n <\/p>\n<\/td>\n

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

\u00a0<\/p>\n

\u00a0<\/p>\n

\n 97,206<\/span>\n <\/p>\n<\/td>\n

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

\u00a0<\/p>\n

\u00a0<\/p>\n

\n 687,632<\/span>\n <\/p>\n<\/td>\n

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

\u00a0<\/p>\n

\u00a0<\/p>\n

\n 208,656<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Share-based compensation expense
\u00a0 \u00a0in general and administrative
\u00a0 \u00a0expenses<\/span>\n <\/p>\n<\/td>\n

\n

\u00a0<\/p>\n

\n 41,623<\/span>\n <\/p>\n<\/td>\n

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

\u00a0<\/p>\n

\n 16,541<\/span>\n <\/p>\n<\/td>\n

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

\u00a0<\/p>\n

\n 84,713<\/span>\n <\/p>\n<\/td>\n

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

\u00a0<\/p>\n

\n 32,546<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

\u00a0<\/p>\n

\n 314,876<\/span>\n <\/p>\n<\/td>\n

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

\u00a0<\/p>\n

\n 80,665<\/span>\n <\/p>\n<\/td>\n

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

\u00a0<\/p>\n

\n 602,919<\/span>\n <\/p>\n<\/td>\n

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

\u00a0<\/p>\n

\n 176,110<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

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

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

\n

\n 1,825,596<\/span>\n <\/p>\n<\/td>\n

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

\n 292,425<\/span>\n <\/p>\n<\/td>\n

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

\n 3,340,628<\/span>\n <\/p>\n<\/td>\n

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

\n 552,472<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Share-based compensation expense
\u00a0 \u00a0in operating costs and expenses<\/span>\n <\/p>\n<\/td>\n

\n

\u00a0<\/p>\n

\n 66,434<\/span>\n <\/p>\n<\/td>\n

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

\u00a0<\/p>\n

\n 27,424<\/span>\n <\/p>\n<\/td>\n

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

\u00a0<\/p>\n

\n 133,879<\/span>\n <\/p>\n<\/td>\n

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

\u00a0<\/p>\n

\n 53,903<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

\u00a0<\/p>\n

\n 1,759,162<\/span>\n <\/p>\n<\/td>\n

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

\u00a0<\/p>\n

\n 265,001<\/span>\n <\/p>\n<\/td>\n

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

\u00a0<\/p>\n

\n 3,206,749<\/span>\n <\/p>\n<\/td>\n

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

\u00a0<\/p>\n

\n 498,569<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

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

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

\n

\n (379,874)<\/span>\n <\/p>\n<\/td>\n

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

\n 14,891<\/span>\n <\/p>\n<\/td>\n

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

\n (506,731)<\/span>\n <\/p>\n<\/td>\n

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

\n (13,432)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

\n 66,434<\/span>\n <\/p>\n<\/td>\n

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

\n 27,424<\/span>\n <\/p>\n<\/td>\n

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

\n 133,879<\/span>\n <\/p>\n<\/td>\n

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

\n 53,903<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

\u00a0<\/p>\n

\n (313,440)<\/span>\n <\/p>\n<\/td>\n

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

\u00a0<\/p>\n

\n 42,315<\/span>\n <\/p>\n<\/td>\n

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

\u00a0<\/p>\n

\n (372,852)<\/span>\n <\/p>\n<\/td>\n

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

\u00a0<\/p>\n

\n 40,471<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

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

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

\n

\u00a0<\/p>\n

\n (826,546)<\/span>\n <\/p>\n<\/td>\n

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

\u00a0<\/p>\n

\n (787)<\/span>\n <\/p>\n<\/td>\n

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

\u00a0<\/p>\n

\n (928,624)<\/span>\n <\/p>\n<\/td>\n

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

\u00a0<\/p>\n

\n (44,616)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

\n 66,434<\/span>\n <\/p>\n<\/td>\n

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

\n 27,424<\/span>\n <\/p>\n<\/td>\n

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

\n 133,879<\/span>\n <\/p>\n<\/td>\n

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

\n 53,903<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

\n $\u00a0(760,112)<\/span>\n <\/p>\n<\/td>\n

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

\n $ 26,637<\/span>\n <\/p>\n<\/td>\n

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

\n $ (794,745)<\/span>\n <\/p>\n<\/td>\n

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

\n $ 9,287<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0<\/span>\n <\/p>\n

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

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

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

\n

\n $ (1.29)<\/span>\n <\/p>\n<\/td>\n

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

\n $ (0.00)<\/span>\n <\/p>\n<\/td>\n

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

\n $ (1.44)<\/span>\n <\/p>\n<\/td>\n

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

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

\n

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

\n

\n (1.29)<\/span>\n <\/p>\n<\/td>\n

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

\n (0.00)<\/span>\n <\/p>\n<\/td>\n

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

\n (1.44)<\/span>\n <\/p>\n<\/td>\n

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

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

\n

\n
\n Non-GAAP net (loss)\/ income per
ADS <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

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

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

\n

\n $ (1.18)<\/span>\n <\/p>\n<\/td>\n

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

\n $ 0.04<\/span>\n <\/p>\n<\/td>\n

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

\n $ (1.23)<\/span>\n <\/p>\n<\/td>\n

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

\n $ 0.01<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

\n (1.18)<\/span>\n <\/p>\n<\/td>\n

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

\n 0.04<\/span>\n <\/p>\n<\/td>\n

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

\n (1.23)<\/span>\n <\/p>\n<\/td>\n

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

\n 0.01<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n ADSs used in calculating net \u00a0loss
per ADS<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

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

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

\n

\n 642,614,142<\/span>\n <\/p>\n<\/td>\n

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

\n 634,860,825<\/span>\n <\/p>\n<\/td>\n

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

\n 643,780,356<\/span>\n <\/p>\n<\/td>\n

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

\n 640,024,317<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

\n 642,614,142<\/span>\n <\/p>\n<\/td>\n

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

\n 634,860,825<\/span>\n <\/p>\n<\/td>\n

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

\n 643,780,356<\/span>\n <\/p>\n<\/td>\n

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

\n 640,024,317<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

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

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

\n

\n 642,614,142<\/span>\n <\/p>\n<\/td>\n

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

\n 634,860,825<\/span>\n <\/p>\n<\/td>\n

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

\n 643,780,356<\/span>\n <\/p>\n<\/td>\n

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

\n 640,024,317<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

\n 642,614,142<\/span>\n <\/p>\n<\/td>\n

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

\n 642,251,238<\/span>\n <\/p>\n<\/td>\n

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

\n 643,780,356<\/span>\n <\/p>\n<\/td>\n

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

\n 642,521,076<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

\n \"Cision\" View original content:https:\/\/www.prnewswire.com\/news-releases\/tal-education-group-announces-unaudited-financial-results-for-the-second-fiscal-quarter-ended-august-31-2022-301662141.html<\/a><\/p>\n

SOURCE TAL Education Group<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

PR Newswire BEIJING , Oct. 28, 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 second quarter of fiscal year 2023 ended August 31, 2022. Highlights for the Second Quarter of Fiscal Year 2023 –\u00a0 \u00a0 \u00a0Net revenues was US$294.1 million, compared to net revenues of US$1,443.9 million in the same period of the prior year. –\u00a0 \u00a0 \u00a0Income from operations was US$14.9 million, compared to loss from operations of US$379.9 million in the same period of the prior year. –\u00a0 \u00a0 \u00a0Non-GAAP income from operations, which excluded share-based compensation expenses, was US$42.3 million, compared to non-GAAP loss from operations of US$313.4 … <\/p>\n

Continue reading “TAL Education Group Announces Unaudited Financial Results for the Second Fiscal Quarter Ended August 31, 2022”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-702436","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nTAL Education Group Announces Unaudited Financial Results for the Second Fiscal Quarter Ended August 31, 2022 - Market Newsdesk<\/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:\/\/www.marketnewsdesk.com\/index.php\/tal-education-group-announces-unaudited-financial-results-for-the-second-fiscal-quarter-ended-august-31-2022\/\" \/>\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 Second Fiscal Quarter Ended August 31, 2022 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire BEIJING , Oct. 28, 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 second quarter of fiscal year 2023 ended August 31, 2022. Highlights for the Second Quarter of Fiscal Year 2023 –\u00a0 \u00a0 \u00a0Net revenues was US$294.1 million, compared to net revenues of US$1,443.9 million in the same period of the prior year. –\u00a0 \u00a0 \u00a0Income from operations was US$14.9 million, compared to loss from operations of US$379.9 million in the same period of the prior year. –\u00a0 \u00a0 \u00a0Non-GAAP income from operations, which excluded share-based compensation expenses, was US$42.3 million, compared to non-GAAP loss from operations of US$313.4 … Continue reading "TAL Education Group Announces Unaudited Financial Results for the Second Fiscal Quarter Ended August 31, 2022"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/tal-education-group-announces-unaudited-financial-results-for-the-second-fiscal-quarter-ended-august-31-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-28T08:04:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=CN18137&sd=2022-10-28\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"17 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/tal-education-group-announces-unaudited-financial-results-for-the-second-fiscal-quarter-ended-august-31-2022\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/tal-education-group-announces-unaudited-financial-results-for-the-second-fiscal-quarter-ended-august-31-2022\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"TAL Education Group Announces Unaudited Financial Results for the Second Fiscal Quarter Ended August 31, 2022\",\"datePublished\":\"2022-10-28T08:04:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/tal-education-group-announces-unaudited-financial-results-for-the-second-fiscal-quarter-ended-august-31-2022\\\/\"},\"wordCount\":3400,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/tal-education-group-announces-unaudited-financial-results-for-the-second-fiscal-quarter-ended-august-31-2022\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/c212.net\\\/c\\\/img\\\/favicon.png?sn=CN18137&sd=2022-10-28\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/tal-education-group-announces-unaudited-financial-results-for-the-second-fiscal-quarter-ended-august-31-2022\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/tal-education-group-announces-unaudited-financial-results-for-the-second-fiscal-quarter-ended-august-31-2022\\\/\",\"name\":\"TAL Education Group Announces Unaudited Financial Results for the Second Fiscal Quarter Ended August 31, 2022 - 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