Tarena International, Inc. (NASDAQ:TEDU) Q2 2023 Earnings Conference Call August 29, 2023 8:00 AM ET

Company Participants

Sylvia Yang - IR Manager

Nancy Ying Sun - CEO

Xiaobo Shao - CFO

Conference Call Participants

Operator

Good day, everyone, and welcome to the Tarena Second Quarter 2023 Earnings Conference Call. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to Sylvia Yang, Investor Relationship Manager. Please go ahead.

Sylvia Yang

Thank you, operator. Hello, everyone, and welcome to Tarena's earnings conference call for the second quarter of 2023. The company's earnings results were released earlier today and are available on our IR website. ir.tedu.cn as well as on Newswire services.

Today, you will hear from Ms. Nancy Ying Sun, our CEO; and Mr. Xiaobo Shao, our CFO, who will take you through the company's operational and financial results for the second quarter of 2023. After their prepared remarks, Nancy and Mr. Shao will be available to answer your questions.

Before we continue, please note that the discussion today will contain certain forward-looking statements made under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from our current expectations. Tarena does not assume any obligation to update any forward-looking statements, except as required under applicable law.

Also, please note that some of the information to be discussed includes non-GAAP financial measures as defined in Regulation G. The U.S. GAAP financial measures and information reconciling these non-GAAP financial measures to Tarena's financial results prepared in accordance with U.S. GAAP are included in Tarena's earnings release, which has been posted on the company's IR website at ir.tedu.cn.

Finally, as a reminder, this conference call is being recorded. In addition, a webcast of this conference call is available on Tarena's Investor Relations website.

I will now turn the call over to Ms. Nancy Ying Sun, the CEO of Tarena.

Nancy Ying Sun

[Foreign Language] Thank you, Sylvia, and thanks, everyone, for joining our earnings conference call today.

In the second quarter of 2023 as the impact of uncertainties in external business environment at the beginning of this year abated, we achieved a 42% quarter-over-quarter increase in revenue. Benefiting from the prudent financial and operational strategy we adopted during the post-pandemic period, we effectively alleviated the sluggish economic recoveries impact on top market supply and demand while enhancing the financial health of our IT-focused supplementary STEAM and 2C professional education services.