51Talk Online Education Group (COE) Revenue History
Annual and quarterly revenue from 2013 to present
COE Revenue Over Time (2013–2025)
COE Revenue Growth History
11 of 12 years with positive growth- FY2013 revenue growth
- N/A
- FY2014 revenue growth
- +135.4%
- FY2015 revenue growth
- +183.1%
- FY2016 revenue growth
- +152.8%
- FY2017 revenue growth
- +115.6%
- FY2018 revenue growth
- +28.2%
- FY2019 revenue growth
- +26.9%
- FY2020 revenue growth
- +48.8%
- FY2021 revenue growth
- -99.7%
- FY2022 revenue growth
- +1809.6%
- FY2023 revenue growth
- +80.2%
- FY2024 revenue growth
- +87.0%
- FY2025 revenue growth
- +89.1%
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $32.4M | +59.0% |
| Q1 2026 | $31.3M | +71.4% |
| Q4 2025 | $30.8M | +89.4% |
| Q3 2025 | $26.3M | — |
| Q2 2025 | $20.4M | — |
| Q1 2025 | $18.2M | — |
| Q4 2024 | $16.2M | — |
| Q3 2023 | $7.8M | +70.4% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
COE's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
COE Revenue Analysis (2013–2025)
Current Revenue & Growth
As of October 3, 2026, 51Talk Online Education Group (COE) generated trailing twelve-month (TTM) revenue of $120.8 million, reflecting explosive growth of +59.0% year-over-year. The most recent quarter (Q2 2026) recorded $32.4 million in revenue, up 3.7% sequentially.
Historical Growth Trajectory
COE's 5-year compound annual growth rate (CAGR) stands at -21.1%, indicating revenue contraction over this period. The 3-year CAGR of +85.4% exceeds the 5-year average, indicating an acceleration in the most recent period. 51Talk Online Education Group's highest annual revenue of $314.4 million was recorded in 2020.
Revenue by Segment
COE's revenue is primarily driven by One Operating Segment (100%). With over half of revenue concentrated in One Operating Segment, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Technology sector peers — including TAL (+32.6% YoY), EDU (+15.6% YoY), and GOTU (+35.0% YoY) — COE has outperformed the peer group in revenue growth. Compare COE vs TAL →
COE Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| COECurrent | $121M | +59.0% | -21.1% | -15.1% | |
 TAL | $3.0B | +32.6% | -7.7% | 9.2% | |
 EDU | $4.9B | +15.6% | +6.5% | 8.7% | |
 GOTU | $6.1B | +35.0% | -2.9% | -8.2% | |
 DUOL | $1.0B | +29.4% | +45.0% | 13.6% | |
 CHGG | $377M | -47.6% | -10.2% | -16.8% |
COE Historical Revenue Data (2013–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $95.9M | +89.1% | $70.8M | 73.9% | $-14,467,160 | -15.1% |
| 2024 | $50.7M | +87.0% | $39.5M | 78.0% | $-8,046,000 | -15.9% |
| 2023 | $27.1M | +80.2% | $20.8M | 76.7% | $-13,663,000 | -50.4% |
| 2022 | $15.0M | +1809.6% | $11.9M | 78.8% | $-12,358,000 | -82.1% |
| 2021 | $788K | -99.7% | $658K | 83.5% | $-4,592,000 | -582.7% |
| 2020 | $314.4M | +48.8% | $225.6M | 71.7% | $16.0M | 5.1% |
| 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% |
| 2014 | $8.4M | +135.4% | $4.8M | 57.5% | $-15,090,382 | -179.3% |
| 2013 | $3.6M | - | $2.0M | 57.1% | $-2,702,203 | -75.6% |
COE Chart Terminal
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Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
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Peer Comparison
Compare growth, multiples, and margins vs sector.
COE — Frequently Asked Questions
Quick answers to the most common questions about buying COE stock.
Is COE's revenue growth accelerating or slowing?
COE revenue growth is accelerating. TTM revenue reached $121M, up +59.0% year-over-year — ahead of the 5-year CAGR of -21.1%. This indicates the business is expanding faster than its historical baseline.
What is COE's revenue history from 2013 to 2026?
51Talk Online Education Group (COE) revenue history spans 2013 to 2026. TTM revenue as of 2026 is $121M, growing at +59.0% YoY. The 5-year CAGR is -21.1%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is COE's long-term revenue growth rate (CAGR)?
51Talk Online Education Group's 5-year revenue CAGR of -21.1% reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +59.0% is above this long-term average. CAGR is the most reliable measure of sustained revenue momentum for COE.
Why does COE's quarterly revenue fluctuate?
COE quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. 51Talk Online Education Group's revenue data from 2013 to 2026 shows full historical quarterly detail on this page.
How is COE's revenue distributed by segment?
COE reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does COE's revenue compare to industry peers?
51Talk Online Education Group (COE) with TTM revenue of $121M and +59.0% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.