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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 Third Quarter 2021 Unaudited Financial Results Hangzhou , China – November 16 , 2021 - Youdao , Inc. ( " Youdao ” or the “ Company ” ) ( NYSE : DAO ) , a leading intelligent learning company in China , today announced its unaudited financial results for the third quarter ended September 30 , 2021 . Third Quarter 2021 Financial Highlights Total net revenues were RMB1.4 billion ( US $ 215.3 million ) , representing a 54.8 % increase from the same period in 2020 . ○ Net revenues from learning services were RMB995.7 million ( US $ 154.5 million ) , representing a 65.9 % increase from the same period in 2020 . ○ Net revenues from learning products were RMB254.5 million ( US $ 39.5 million ) , representing a 56.0 % increase from the same period in 2020 . Net revenues from online marketing services were RMB137.0 million ( US $ 21.3 million ) , representing a 3.4 % increase from the same period in 2020 . Gross billings¹ decreased by 33.9 % year - over - year to RMB631.6 million ( US $ 98.0 million ) and gross billings of Youdao Premium Courses² decreased by 34.6 % year - over - year to RMB573.5 million ( US $ 89.0 million ) . • Gross margin was 56.6 % , compared with 45.9 % for the same period in 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 tutoring services 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 tutoring service offerings primarily focused on K - 12 students , covering a wide spectrum of subject matters , learning goals and areas of interest .