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有道 youdao For investor and media inquiries , please contact : In China : Jeffrey Wang Youdao , Inc. Tel : + 86-10-8255-8163 ext . 89980 E - mail : IR@rd.netease.com The Piacente Group , Inc. Emilie Wu Tel : + 86-21-6039-8363 E - mail : youdao@thepiacentegroup.com In the United States : The Piacente Group , Inc. Brandi Piacente Tel : + 1-212-481-2050 E - mail : youdao@thepiacentegroup.com Youdao Reports First Quarter 2021 Unaudited Financial Results Hangzhou , China - May 18 , 2021 - Youdao , Inc. ( " Youdao ” or the “ Company ” ) ( NYSE : DAO ) , a leading intelligent learning company in China , today announced its unaudited financial results for the first quarter ended March 31 , 2021 . First Quarter 2021 Financial Highlights Total net revenues were RMB1.3 billion ( US $ 204.5 million ) , representing a 147.5 % increase from the same period in 2020 . ○ Net revenues from learning services were RMB998.9 million ( US $ 152.5 million ) , representing a 156.8 % increase from the same period in 2020 . ○ Net revenues from learning products were RMB201.9 million ( US $ 30.8 million ) , representing a 279.8 % increase from the same period in 2020 . Net revenues from online marketing services were RMB139.1 million ( US $ 21.2 million ) , representing a 40.1 % increase from the same period in 2020 . Gross billings of online courses¹ increased by 55.9 % year - over - year to RMB808.7 million ( US $ 123.4 million ) and gross billings of Youdao Premium Courses² increased by 66.2 % year - over- year to RMB741.5 million ( US $ 113.2 million ) . • Gross margin was 57.3 % , compared with 43.5 % for the same period in 2020 . • Deferred revenue from online courses was RMB1.2 billion ( US $ 176.4 million ) , compared with RMB1.4 billion as of December 31 , 2020 . 1 Gross billings is a non - GAAP financial measure . Gross billings for a specific period refers to the total amount of consideration for Youdao's online courses sold mainly on Youdao Premium Courses , NetEase Cloud Classroom and China University MOOC , net of the total amount of refunds , in such period . See " Non - GAAP Measures " and " Unaudited Reconciliation of GAAP and non - GAAP Results " at the end of this press release . 2 Youdao Premium Courses are Youdao's flagship online learning offerings primarily focused on K - 12 students , covering a wide spectrum of subject matters , learning goals and areas of interest .