QuantaSing Group Limited (NASDAQ:QSG) Q2 2024 Results Conference Call March 7, 2024 7:00 AM ET
Company Participants
Leah Guo - Investor Relations
Peng Li - Founder, Chairman and CEO
Tim Xie - CFO
Conference Call Participants
Howard Halpern - Taglich Brothers
Hunter Diamond - Diamond Equity
Steve Silver - Argus Research
Pat McCann - Noble Capital Markets
BJ Cook - Singular Research
Operator
Good morning, and good evening, ladies and gentlemen. Thank you for standing by. And welcome to QuantaSing's Earnings Conference Call. At this time, all participants are in a listen only mode. We will be hosting a question-and-answer session after management's prepared remarks. Please note that today's event is being recorded. I will now turn the conference over to Ms. Leah Guo, Investor Relations, Associate Director of the Company. Please go ahead, ma'am.
Leah Guo
Thank you. Hello, everyone. And welcome to QuantaSing’s Earnings Call for the Second Quarter of Fiscal Year 2024. With us today are Mr. Peng Li, our Founder, Chairman and CEO; and Mr. Tim Xie, our CFO. Mr. Li will provide a business overview for the quarter. Then Tim will discuss the financials in more details. Following their prepared remarks, Mr. Li and Tim will be available for the QA session. I will translate for Mr. Li. You can refer to our quarterly financial results on our IR Web site at ir.quantasing.com. You can also access a replay of this call on our IR Web site when it becomes available a few hours after its conclusion. Before we'll continue, I would like to refer you to our Safe Harbor statements in our earnings press release, which also applies to this call as we will be making forward looking statements. Please note that all members stated in the following management’s prepared remarks are in RMB terms, and we will discuss non-GAAP measures today, which are more thoroughly explained and reconciled to the most comparable measures reported in our earnings release and filings with the SEC. I will now turn the call over to the CEO and Founder of QuantaSing. Mr. Li.
Peng Li
Hello, everyone. And thank you all for joining us today. Last quarter, we saw solid 24.7% increase in revenue, proving that our strategy to expand our cost offerings is paying off. Following the past success of our financial literacy courses, we have been actively adding new courses to diversify our revenue streams. We are also [Indiscernible] [seeding] the opportunity presented by growing demand for courses made for senior learners. We have adjusted our revenue presentations under other personal interest courses this quarter. We further broke down our other personal interest courses into skills upgrading courses and recreation and leisure courses. We think the new revenue breakdown better reflects our business strategies and can provide useful and updated information to investors. Under the new breakdown, skills upgrading courses mainly include courses for training productive skills, such as short video production and memory training courses. Recreation and learning courses mainly include more personal enrichment courses, such as personal wellbeing courses, electronic keyboard courses, understanding meditation courses.