51Talk Online Education Group Q2 2024 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: John Banks - B&G Capital Management - Analyst : Hi, thanks for letting me ask a question. Congratulations on a great quarter. Just a quick question on the new market you guys are going after. I know originally you guys were in China. It was 100% there, and the tutors were mostly Philippines. So then you went to Asia, but now it looks like you're spreading out in Japan and the Middle East. So I guess my question, when you go to these localized markets, are you using AI? Are you using local teachers and just try to explain a little on the new market you guys are looking to enter or are you looking to enter every market going forward? Thank you. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 23, 2024 / 12:00PM, COE.A - Q2 2024 51Talk Online Education Group Earnings Call

Question: John Banks - B&G Capital Management - Analyst : Excellent. Thank you. That was perfect. Thank you. You kind of broke it down. My final question, just because I know it was interesting because you guys basically did the same model in China, then what happened there and you moved it to overseas. So one of the questions I was thinking about is, like, I think in China, you guys got to close to about USD300 million -- USD250 million to USD300 million gross billings. I was wondering when you left China, like, what the size of the market would be. Do you have a feeling like the markets as big or bigger than China, obviously, that you can get to in the next, say, 5 to 10 years?

Question: John Banks - B&G Capital Management - Analyst : Excellent. Thank you for detailed answers on all my questions. Great quarter and hopefully the momentum keeps coming for the next three to five years. Thank you.