QuantaSing Group Limited (NASDAQ:QSG) Q4 2024 Earnings Conference Call August 28, 2024 7:00 AM ET
Company Participants
Leah Guo - Investor Relations, Associate Director
Peng Li - Founder, Chairman and CEO
Tim Xie - CFO
Conference Call Participants
Steve Silver - Argus 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 fourth quarter of 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 website at ir.quantasing.com. You can also access a replay of this call on our IR website 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 numbers 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
Good morning, everyone. Thank you all for joining us today. I'm excited to share our progress and the strategic development for the fourth quarter of the fiscal year 2024. This quarter, we achieved a revenue of RMB1,000.1 million and our adjusted net income reached historical high, improved to RMB193.6 million from RMB90.4 million in the same period last year. While these numbers are encouraging, they represent just one step in our ongoing journey.
Today, I'm pleased to announce a significant strategic shift for our company. We are parroting towards the silver economy, aligning with our new mission of live better, live longer. This transition reflects our commitment to serving the holistic needs of our adult users, particularly the fewer demographic. Our vision is to become a long-term partner, loved and trusted by adult users.