51Talk Online Education Group (COE) Balance Sheet: Assets & Liabilities

51Talk Online Education Group (COE) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), 51Talk Online Education Group reported total assets of $66.09M and total liabilities of $97.35M. Shareholders' equity was negative at −$31.36M, meaning liabilities exceed assets. Total debt stood at $2.94M against $38.96M in cash and short-term investments, a net cash position of $36.02M.

51Talk Online Education Group Balance Sheet Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for 51Talk Online Education Group (COE) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Current Assets
Cash and Cash Equivalents	38.87	27.76	21.30	18.19	24.61	50.00	49.02	60.06	49.02
Short-Term Investments	0.09	1.43	2.09	4.87	6.50	151.08	85.33	43.46	46.47
Cash & Short-Term Investments	38.96	29.19	23.39	23.06	31.11	201.08	134.34	103.52	95.49
Accounts Receivable	11.48	0.71	0.53	0.00	0.23	1.57	0.35	0.47	0.32
Inventory	0.00	0.00	0.00	0.00	0.00	0.30	0.04	0.00	0.00
Other Current Assets	9.95	10.91	5.86	0.60	120.14	44.67	35.41	34.78	12.69
Total Current Assets	60.40	40.09	29.78	26.57	151.25	247.61	170.15	138.78	108.50
Non-Current Assets
Property, Plant & Equipment (Net)	5.21	3.25	0.86	0.79	1.72	18.24	11.00	5.14	7.51
Long-Term Investments	0.00	0.00	0.00	0.00	11.12	63.37	16.21	0.00	1.03
Goodwill	0.00	0.00	0.00	0.00	0.00	0.65	0.60	0.61	0.65
Intangible Assets	0.07	0.08	0.09	0.10	0.12	3.11	1.42	1.71	1.48
Other Non-Current Assets	0.34	0.52	0.35	0.17	22.87	3.66	0.97	0.61	0.85
Total Non-Current Assets	5.70	3.85	1.37	1.07	35.82	90.59	30.20	8.08	11.52
Total Assets	66.09	43.94	31.16	27.63	187.07	338.20	200.35	146.86	120.02
Current Liabilities
Accounts Payable	0.00	2.85	0.00	2.49	0.00	0.00	0.00	0.00	0.00
Short-Term Debt	1.76	1.24	0.59	0.43	0.82	6.57	6.88	0.00	0.00
Accrued Liabilities	11.96	6.64	4.83	2.33	3.17	31.87	-	-	-
Deferred Revenue	76.57	45.06	27.21	15.17	2.87	416.14	311.83	242.40	180.21
Other Current Liabilities	17.02	1.10	10.27	0.10	290.18	36.29	23.86	29.25	34.13
Total Current Liabilities	95.36	56.90	39.13	20.51	297.04	461.96	345.67	274.11	218.17
Non-Current Liabilities
Long-Term Debt	1.18	1.44	0.04	0.31	0.82	8.20	3.37	10.04	0.00
Deferred Tax Liabilities	0.45	0.00	0.00	0.08	0.00	0.00	0.00	0.00	0.02
Other Non-Current Liabilities	0.36	0.31	0.18	0.16	2.64	0.38	0.23	0.12	0.34
Total Non-Current Liabilities	1.99	1.75	0.22	0.55	3.45	8.93	4.28	12.68	4.23
Total Liabilities	97.35	58.65	39.35	21.06	300.50	470.89	349.94	286.80	222.39
Stockholders' Equity
Common Stock	0.04	0.04	0.03	0.03	0.03	0.03	0.03	0.03	0.03
Retained Earnings	-370.40	-353.60	-346.37	-331.17	-288.61	-314.07	-314.27	-304.47	-268.63
Accumulated Other Comprehensive Income	0.00	-0.69	-0.33	0.30	-6.05	1.36	4.28	3.58	1.18
Treasury Stock	-	-	-	-	6.64	-	-	-	-
Additional Paid-in Capital	-31.36	339.25	338.32	337.41	181.20	179.99	160.37	160.93	165.04
Minority Interest	0.10	0.29	0.15	0.00	0.00	0.00	0.00	0.00	0.00
Shares Outstanding	359.06	350.79	343.30	337.82	333.58	-	-	-	-
Total Stockholders' Equity	-31.36	-14.71	-8.34	6.58	-113.43	-132.70	-149.59	-139.94	-102.38
Total Liabilities & Equity	66.09	43.94	31.16	27.63	187.07	338.20	200.35	146.86	120.02

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About 51Talk Online Education Group Balance Sheet

How much debt does 51Talk Online Education Group have?

51Talk Online Education Group had total debt of $2.94M as of Dec 31, 2025, against $38.96M in cash and short-term investments. Total debt was $2.68M a year earlier.

What are 51Talk Online Education Group's total assets?

51Talk Online Education Group reported total assets of $66.09M as of Dec 31, 2025, up 50.4% from $43.94M a year earlier. Total liabilities were $97.35M.

What is 51Talk Online Education Group's shareholders' equity?

51Talk Online Education Group's shareholders' equity was negative at −$31.36M as of Dec 31, 2025, so its liabilities exceeded its assets.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition