51Talk Online Education Group (COE) Revenue History
Annual and quarterly revenue from 2013 to 2024
Compound Annual Growth Rate (CAGR)
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Revenue Growth Metrics
Revenue Breakdown (FY 2021)
COE's revenue distribution by segment and geography for fiscal year 2021
By Product/Segment
By Geography
COE Revenue Analysis (2013–2024)
As of March 2, 2026, 51Talk Online Education Group (COE) generated trailing twelve-month (TTM) revenue of $175.3 million, reflecting explosive growth of +74.3% year-over-year. The most recent quarter (Q3 2023) recorded $57.2 million in revenue, up 26.1% sequentially.
Looking at the longer-term picture, COE's 5-year compound annual growth rate (CAGR) stands at +11.9%, indicating consistent double-digit revenue growth. The company achieved its highest annual revenue of $370.0 million in 2024, representing a new all-time high.
Revenue diversification analysis shows COE's business is primarily driven by Prepaid credit packages (50%), Credits for lessons taught by foreign teachers (46%), and Credits for learning materials (2%).
When compared to Technology sector peers including SAP (+7.4% YoY), UBER (+18.3% YoY), and YMM (+25.1% YoY), COE has underperformed the peer group in terms of revenue growth. Compare COE vs SAP →
Peer Comparison
Compare COE's revenue metrics with industry peers
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| COECurrent | $175M | +74.3% | +11.9% | -15.9% | |
| SAP | $35.3B | +7.4% | +5.3% | 28.0% | |
| UBER | $52.0B | +18.3% | +36.1% | 10.7% | |
| YMM | $11.2B | +25.1% | +35.4% | 22.0% | |
| QXO | $6.8B | +11938.9% | +178.0% | -3.6% | |
| TYL | $2.1B | +9.1% | +14.5% | 14.0% |
Historical Revenue Data
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2024 | $370.0M | +92.6% | $288.5M | 78.0% | $-58,726,144 | -15.9% |
| 2023 | $192.1M | +86.3% | $147.3M | 76.7% | $-96,789,667 | -50.4% |
| 2022 | $103.1M | +12984.9% | $81.2M | 78.8% | $-84,676,810 | -82.1% |
| 2021 | $788K | -99.7% | $658K | 83.5% | $-4,592,000 | -582.7% |
| 2020 | $297.6M | +40.8% | $225.6M | 75.8% | $4.0M | 1.4% |
| 2019 | $211.3M | +26.9% | $148.4M | 70.2% | $-15,372,027 | -7.3% |
| 2018 | $166.5M | +28.2% | $106.8M | 64.1% | $-58,828,463 | -35.3% |
| 2017 | $129.9M | +115.6% | $81.8M | 63.0% | $-87,427,952 | -67.3% |
| 2016 | $60.2M | +152.8% | $39.0M | 64.8% | $-73,753,852 | -122.4% |
| 2015 | $23.8M | +183.1% | $14.6M | 61.4% | $-49,574,695 | -208.1% |
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Start ComparisonFrequently Asked Questions
Is COE's revenue growth accelerating or slowing?
COE revenue is accelerating at +74.3% year-over-year, exceeding the 5-year CAGR of +11.9%. TTM revenue reached $175M. Growth momentum has increased versus prior periods.
What is COE's long-term revenue growth rate?
51Talk Online Education Group's 5-year revenue CAGR of +11.9% reflects the sustained expansion pattern. Current YoY growth of +74.3% is above this long-term average.
How is COE's revenue distributed by segment?
COE reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2013-2024 are available for download. Segment mix reveals concentration and diversification trends.