51Talk (COE) Q2 2026 Earnings Call Transcript

51Talk Online Education Group (COE) posted Q2 2026 net revenues of $32.4 million, up 58.8% year-over-year, while active students climbed 51.3% to 138,100. The online English tutoring platform launched Global Communicator, an AI-powered learning product developed in partnership with Oxford University Press, marking a key product diversification move.

Operating losses narrowed to $2.1 million from $3.2 million in the prior-year quarter, though the company remains unprofitable. Management guided Q3 2026 gross billings to $41 million to $43 million and stated that efficient growth toward profitability remains the top priority.

The revenue acceleration reflects both student growth and likely higher revenue per student, while the narrowing losses suggest improving unit economics. The Oxford partnership lends credibility to the new AI product, which could open revenue streams beyond core one-on-one tutoring.