What does Tal Education Group do and what are its main business segments?

What is Tal Education Group's gross profit margin?

What factors drove the changes in Tal Education Group's revenue and profit?

What were the key takeaways from Tal Education Group's earnings call?

What were the key takeaways from Tal Education Group’s earnings call?

What is Tal Education Group's latest dividend and current dividend yield?

Did Tal Education Group beat or miss consensus estimates last quarter?

What is the revenue and EPS growth rate for Tal Education Group year over year?

- **Revenue Soars 39% YoY**: Driven by learning devices and offline expansion, net revenues hit USD 861M.
- **AI-Powered Devices Thrive**: 3 new models launched, AI Think 101 gets top industry rating, 80% weekly active users.
- **Profit Growth**: Non-GAAP net income up 83% to USD 135.8M, gross margin 57%.
- **Share Buybacks**: USD 135M spent so far, remaining USD 465M program to be executed flexibly.

**【CEO Summary Section】**
- **Revenue Growth**: Q2 FY2026 net revenues reached USD 861.4 million, up 39.1% YoY, driven by expansion of offline Peiyou learning centers and AI-driven learning devices. 
- **Learning Devices Expansion**: Launched 3 new models (P4, S4, T4) in Q2, achieving sequential and YoY revenue growth. AI Think 101 companion received industry's highest AI agent rating.
- **Long-Term Focus**: Prioritizes sustainable growth over short-term profits, with 80% weekly active rate and >1hr daily usage for learning devices.

**【CFO Financial Commentary】**
- **Profitability**: Non-GAAP net income USD 135.8 million (up 83% YoY), gross margin 57.0% (vs 56.3% YoY). 
- **Cost Management**: Selling expenses 30.7% of revenue (up from 28.7%), but G&A efficiency improved to 14% of revenue (down from 17.5%).
- **Cash Position**: USD 3.5 billion in cash, with USD 134.7M spent on share buybacks since July 2025 under USD 600M program.

**【Q&A Highlights】**
- **Offline Growth**: Peiyou offline centers expanded moderately, ASP stable YoY, but expect gradual growth taper as focus shifts to quality.
- **Device Competition**: Faces intense competition but differentiates via K-12 content, AI integration, and 80% weekly active rate.
- **Share Buybacks**: Will execute remaining USD 465M buyback program flexibly based on market conditions.

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