UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of August 2025

Commission File Number: 001-42209

 

 

YXT.COM GROUP HOLDING LIMITED

(Exact Name of Registrant as Specified in Its Charter)

 

 

Room 501-502, No. 78 East Jinshan Road

Huqiu District, Suzhou

Jiangsu, 215011, People’s Republic of China

+86 (512) 6689 9881

(Address of principal executive office)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒   Form 40-F ☐

 

EXHIBIT INDEX

 

Exhibit No.		Description
99.1		Press Release

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned,thereunto duly authorized.

 

				YXT.COM GROUP HOLDING LIMITED
Date: August 20, 2025				By:		/s/ Shen Cao
				Name:		Shen Cao
				Title:		Chief Financial Officer

Exhibit 99.1

YXT.com Reports Unaudited Financial Results for the First Six Months of 2025

SUZHOU, China, August 20, 2025 /GLOBE NEWSWIRE/ - YXT.com Group Holding Limited (NASDAQ: YXT) (“YXT.com” or the “Company”), aprovider of AI-enabled enterprise productivity solutions, today announced its unaudited financial results for the first six months ended June 30, 2025.

Financial Highlights for the First Six Months of 2025

 

•

Total revenues were RMB152.9 million (US$21.3 million), compared with RMB165.8 million in thesame period of last year.

 

•

Gross margin was 65.1% in the six months ended June 30, 2025, compared with 61.1% in the same periodof last year, representing an increase of 4.0 percentage points.

 

•

Net loss was RMB73.9 million (US$10.3 million), compared with a net income of RMB21.4 million inthe same period of last year. Adjusted net loss was RMB64.0 million (US$8.9 million), compared with an adjusted net loss of RMB75.3 million in the same period of last year, representing a decrease of RMB11.3 million.

 

•

Number of subscription customers was 2,358 as of June 30, 2025, compared with 2,481 as ofJune 30, 2024. Net revenue retention rates of subscription customers decreased to 100.3% for the six months ended June 30, 2025 from 102.8% in the same period of last year. The change reflects the Company’s strategic shifttowards large enterprise accounts with consistent demand for corporate learning solutions, and an anticipated churn of small and medium-sized customers from the Company’s portfolio.

 

•

Monthly Recurring Revenue (“MRR”1) of AI-related product was RMB0.5million (US$69.9 thousand) as of June 30, 2025, compared with RMB0.2 million as of June 30, 2024.

Mr. Peter Lu, Director, Founder and Chairman of the Board of YXT.com, commented, “Amid evolving market dynamics, we are successfully incorporating AI-powered corporate learning solutions into our product portfolio, maintaining strong customer retention while strategically prioritizing large enterprise accounts. This strategic focus reflects a broaderindustrial shift, as organizations increasingly prioritize measurable workforce productivity gains over traditional training metrics. Furthermore, our AI Coach-driven model moves beyond conventional, course-based training to deliver adaptive,interactive learning and personalized tutoring. This approach has fueled the rapid growth of our AI-related product revenue, significantly enhancing enterprise productivity.”

Mr. Shen Cao, Chief Financial Officer of YXT.com, added, “We are making meaningful progress in our path to profitability, driven primarily byexpanding gross margins that reflected both cost optimization and product improvements. This margin growth reflects our successful transition toward higher-value offerings, particularly our AI-poweredcorporate learning solutions.”

Financial Results for the First Six Months of 2025

Revenues

Revenues were RMB152.9 million (US$21.3million), compared with RMB165.8 million in the same period of last year, representing a decrease of 7.8%.

 

•

Revenues from corporate learning solutions were RMB152.4 million (US$21.3 million), compared withRMB164.5 million in the same period of last year.

1	MRR is calculated based on the accounting adjusted total contract value divided by the number of months of theagreement based on the start and end dates of each contracted line item.

 

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•

Revenues from subscription based corporate learning solutions were RMB144.7 million (US$20.2million), compared with RMB151.9 million in the same period of last year. The change was primarily due to (i) a net impact of RMB4.8 million from operational adjustments, due to (1) our strategic suspension of certain ancillary onlineteaching tools; (2) our business expansion strategy to focus on large enterprises with strong and steady demand for corporate learning solutions, leading to an expected loss of portion from some small andmedium-sized customers and therefore the decrease in the number of our subscription customers during the same periods; and (ii) the deconsolidation of CEIBS PG starting from January 15, 2024,resulting in a decrease of RMB2.4 million.

 

•

Revenues from non-subscription based corporate learning solutionswere RMB7.7 million (US$1.1 million), compared with RMB12.6 million in the same period of last year. The change was primarily due to (i) reduced offline solutions reflecting the Company’s strategic emphasis onsubscription-based, digitized corporate learning solutions; and (ii) the deconsolidation of CEIBS PG starting from January 15, 2024, resulting in a decrease of RMB0.8 million.

 

•

Revenues from others were RMB0.5 million (US$66.0 thousand), compared with RMB1.3 million in thesame period of last year. The change primarily reflects fewer customized software projects completed in the six months ended June 30, 2025, aligning with the Company’s new strategic focus.

Cost of revenues

Cost of revenues wasRMB53.4 million (US$7.5 million), compared with RMB64.4 million in the same period of last year, representing a decrease of 17.1%. This was mainly due to (i) raise in productivity in the Company’s operation leveraging AI tools;(ii) decreased staff expenses and third-party infrastructure costs through operational optimization; (iii) lower instructor compensation costs due to the reduction of offline solutions, aligning with our strategic emphasis onsubscription-based, digitized and AI-powered corporate learning solutions; and (iv) the deconsolidation of CEIBS PG starting from January 15, 2024, resulting in a decrease of RMB0.7 million.

Gross margin

Gross margin was 65.1%, compared with61.1% in the same period of last year, representing an increase of 4.0 percentage points. This was mainly driven by the Company’s continual focus on large enterprise subscription customers, higher-marginal-contribution solutions and ongoingcost optimization efforts.

Sales and marketing expenses

Sales and marketing expenses were RMB61.9 million (US$8.6 million), compared with RMB71.6 million in the same period of last year, representing adecrease of 13.5%. This was mainly due to (i) raise in productivity in acquiring, converting and retaining customers and realizing revenues aided by AI tools and the Company’s branding campaign; (ii) decreases in compensation paid tosales and marketing staff due to the Company’s efforts in better relocating its human resources; and (iii) the deconsolidation of CEIBS PG starting from January 15, 2024, resulting in a decrease of RMB1.7 million.

Research and development expenses

Research anddevelopment expenses were RMB48.3 million (US$6.7 million), compared with RMB59.8 million in the same period of last year, representing a decrease of 19.2%. This was mainly due to (i) increased R&D ROI due to the Company’snew discipline and approach to product-market-fit; (ii) decreases in compensation paid to research and development staff due to the Company’s efforts in better relocating its human resources; and(iii) the deconsolidation of CEIBS PG starting from January 15, 2024, resulting in a decrease of RMB0.2 million.

General andadministrative expenses

General and administrative expenses were RMB54.2 million (US$7.6 million), compared with RMB45.0 million in the sameperiod of last year, representing an increase of 20.4%. This was mainly due to (i) the increase of professional service fees; and (ii) an increase in share-based compensation paid to general and administrative staff due to the execution ofthe share incentive plan in January 2025. The increase was partially offset by (i) the decrease in compensation paid to general and administrative staff; and (ii) the deconsolidation of CEIBS PG starting from January 15, 2024,resulting in a decrease of RMB1.4 million.

 

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Net loss and adjusted net loss

Net loss was RMB73.9 million (US$10.3 million), compared with a net income of RMB21.4 million in the same period of last year. Adjusted net loss wasRMB64.0 million (US$8.9 million), compared with an adjusted net loss of RMB75.3 million in the same period of last year, representing a decrease of 15.0%.

Loss per share

Basic and diluted net loss per share wasRMB0.41 (US$0.06), compared with basic and diluted net loss per share of RMB3.82 in the same period of last year. The decrease in basic and diluted net loss per share was primarily attributable to (i) the net accretion of convertible redeemablepreferred shares for the six months ended June 30, 2024; and (ii) the increase of weighted average number of ordinary shares.

Balance Sheet

As of June 30, 2025, the Company had cash and cash equivalents and restricted cash and short-term investment of RMB235.7 million (US$32.9million), compared with RMB418.2 million as of December 31, 2024.

Conference Call Information

The Company’s management team will hold a conference call at 8:00 A.M. U.S. Eastern Time on Wednesday, August 20, 2025 (or 8:00 P.M. Beijing Time onWednesday, August 20, 2025) to discuss the financial results. Details for the conference call are as follows:

 

Event Title:		YXT.com First Six Months of 2025 Earnings Conference Call
Registration Link:		https://register-conf.media-server.com/register/BIdcc85d6c0ac943d98e5e584bc67adf25

All participants must use the link provided above to complete the online registration process in advance of the conferencecall. Upon registering, each participant will receive a set of participant dial-in numbers and a unique access PIN, which can be used to join the conference call.

A live and archived webcast of the conference call will be available at the Company’s investor relations website at https://ir.yxt.com/.

Non-GAAP Financial Measures

In evaluating our business, we consider and use adjusted net loss as a supplemental non-GAAP measure to review andassess our operating performance. Adjusted net loss is net loss excluding gain on deconsolidation of CEIBS PG, share-based compensation, change in fair value of derivative liabilities, net of income taxes, to the extent applicable. The presentationof the non-GAAP financial measure is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. We present the non-GAAP financial measure because it is used by our management to evaluate our operating performance and formulate business plans. We also believe that the use of thenon-GAAP measure facilitates investors’ assessment of our operating performance.

The non-GAAP financial measure is not defined under U.S. GAAP and is not presented in accordance with U.S. GAAP. The non-GAAP financial measure has limitations as analyticaltools. One of the key limitations of using the non-GAAP financial measure is that it does not reflect all items of income and expense that affect our operations. Further, thenon-GAAP measure may differ from the non-GAAP information used by other companies, including peer companies, and therefore its comparability may be limited. Wecompensate for these limitations by reconciling the non-GAAP financial measure to the nearest U.S. GAAP performance measure, which should be considered when evaluating our performance. We encourage you toreview our financial information in its entirety and not rely on a single financial measure.

 

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Exchange Rate Information

This announcement contains translations of certain Renminbi (“RMB”) amounts into U.S. dollars (“US$”) at specified rates solely for theconvenience of the reader. Unless otherwise stated, all translations from Renminbi to U.S. dollars were made at the rate of RMB7.1636 to US$1.00, the exchange rate on June 30, 2025, set forth in the H.10 statistical release of the FederalReserve Board. The Company makes no representation that the Renminbi or U.S. dollars amounts referred to could be converted into U.S. dollars or Renminbi, as the case may be, at any particular rate or at all.

Safe Harbor Statements

This press release containsforward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about theCompany’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in anyforward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,”“estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to”, or other similar expressions. Further information regarding these and otherrisks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information,except as required under applicable law.

About YXT.com

YXT.com (NASDAQ: YXT) is a technology company focusing on enterprise productivity solutions. With a mission to “Empower people and organizationdevelopment through technology,” The Company strives to become the supreme provider in building and boosting enterprise productivity by combining over a decade of experience in tech-enabled talent learning and development and with AI-augmented task copilots and unleashing the power of knowledge and synergy. Since its inception, YXT.com has supported and received recognition from numerous Global and China Fortune 500 companies.

Contact

Investor Relations

YXT.com

E-mail:IR@radnova.com

Serena Huang

Octans Capital Group

E-mail: yxt.ir@octanscap.com

Tel: +86-10-6580-0653

 

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YXT.COM GROUP HOLDING LIMITED

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

AS OF DECEMBER 31, 2024 AND JUNE 30, 2025

(All amounts in thousands, except for share and per share data, unless otherwise noted)

 

		As of December 31,				As of June 30,
		2024				2025
		RMB				RMB				US$
ASSETS
Current assets:
Cash and cash equivalents			417,920				142,434				19,883
Restricted Cash			322				156				22
Short-term investments			—				93,063				12,991
Accounts receivable, net			19,386				16,722				2,334
Amounts due from related parties			2,000				2,000				279
Prepaid expenses and other current assets, net			35,791				43,237				6,036
Total current assets			475,419				297,612				41,545
Non-current assets:
Property, equipment and software, net			15,175				11,837				1,652
Intangible assets, net			7,069				4,946				690
Goodwill			163,837				163,837				22,871
Long-term investments			114,432				109,518				15,288
Operating leaseright-of-use assets, net			25,655				25,727				3,591
Other non-current assets			20,349				9,679				1,351
Total non-current assets			346,517				325,544				45,443
Total assets			821,936				623,156				86,988
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Accounts payable			7,389				10,507				1,465
Amounts due to related parties			2,452				3,047				425
Short-term borrowings			163,000				121,500				16,961
Deferred revenue, current			125,428				98,774				13,788
Acquisition consideration payable			14,775				14,775				2,063
Other payable and accrued liabilities			72,028				130,085				18,159
Operating lease liabilities, current			8,966				11,542				1,611
Total current liabilities			394,038				390,230				54,472
Non-current liabilities
Long-term borrowings			125,500				6,000				838
Operating lease liabilities, non-current			17,458				15,005				2,095
Deferred revenue, non-current			57,710				51,651				7,210
Total non-current liabilities			200,668				72,656				10,143
Total liabilities			594,706				462,886				64,615

 

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YXT.COM GROUP HOLDING LIMITED

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

AS OF DECEMBER 31, 2024 AND JUNE 30, 2025

(All amounts in thousands, except for share and per share data, unless otherwise noted)

 

		As of December 31,				As of June 30,
		2024				2025
		RMB				RMB				US$
Shareholders’ equity
Class A ordinary shares (US$0.0001 par value per share; 483,068,176 Class A ordinaryshares authorized, 163,294,773 Class A ordinary shares issued and outstanding as of December 31, 2024; 483,068,176 Class A ordinary shares authorized, 163,294,773 Class A ordinary shares issued and 162,143,025 Class Aordinary shares outstanding as of June 30, 2025)			118				118				16
Class B ordinary shares (US$0.0001 par value per share; 16,931,824 Class B ordinaryshares authorized, 16,931,824 Class B ordinary shares issued and outstanding as of December 31, 2024; 16,931,824 Class B ordinary shares authorized, 16,931,824 Class B ordinary shares issued and outstanding as of June 30,2025)			11				11				2
Treasury stock			—				(2,157	)			(301	)
Additional paid-in capital			3,489,553				3,499,426				488,501
Accumulated other comprehensive income			25,096				24,298				3,392
Accumulated deficit			(3,287,548	)			(3,361,426	)			(469,237	)
Total shareholders’ equity			227,230				160,270				22,373
Total liabilities and shareholders’ equity			821,936				623,156				86,988

 

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YXT.COM GROUP HOLDING LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS)

FOR THE SIX MONTHS ENDED JUNE 30, 2024 AND 2025

(All amounts in thousands, except for share and per share data, unless otherwise noted)

 

		For the six months ended June 30,
		2024				2025
		RMB				RMB				US$
Revenues:
Corporate learning solutions			164,420				152,417				21,277
Others			1,336				477				66
Total revenues			165,756				152,894				21,343
Cost of revenues			(64,419	)			(53,380	)			(7,452	)
Sales and marketing expenses			(71,569	)			(61,932	)			(8,645	)
Research and development expenses			(59,772	)			(48,277	)			(6,739	)
General and administrative expenses			(44,993	)			(54,219	)			(7,569	)
Other operating income			1,609				465				65
Loss from operations			(73,388	)			(64,449	)			(8,997	)
Interest and investment income			4,163				1,685				235
Interest expense			(4,993	)			(4,186	)			(584	)
Investment losses			(4,951	)			(7,417	)			(1,035	)
Gain on deconsolidation of CEIBS Publishing Group			78,760				—				—
Foreign exchange gain, net			33				489				68
Change in fair value of derivative liabilities			21,735				—				—
Income/(loss) before income tax expense			21,359				(73,878	)			(10,313	)
Income tax expense			—				—				—
Net income/(loss)			21,359				(73,878	)			(10,313	)
Net loss attributable to non-controlling interestsshareholders			300				—				—
Net income/(loss) attributable to YXT.COM Group Holding Limited			21,659				(73,878	)			(10,313	)

 

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YXT.COM GROUP HOLDING LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS)

FOR THE SIX MONTHS ENDED JUNE 30, 2024 AND 2025

(All amounts in thousands, except for share and per share data, unless otherwise noted)

 

		For the six months ended June 30,
		2024				2025
		RMB				RMB				US$
Net income/(loss) attributable to YXT.COM Group Holding Limited			21,659				(73,878	)			(10,313	)
Net accretion of convertible redeemable preferred shares			(204,364	)			—				—
Deemed dividend to preferred shareholders due to modification			(5,940	)			—				—
Net loss attributable to ordinary shareholders of YXT.COM Group Holding Limited			(188,645	)			(73,878	)			(10,313	)
Net income/(loss)			21,359				(73,878	)			(10,313	)
Other comprehensive income/(loss)
Foreign currency translation adjustment, net of tax			1,191				(301	)			(42	)
Unrealized loss on investments inavailable-for-sale debt securities, net of tax			(5,408	)			(497	)			(69	)
Total comprehensive income/(loss)			17,142				(74,676	)			(10,424	)
Total comprehensive loss attributable to non-controllinginterests			300				—				—
Total comprehensive income/(loss) attributable to YXT.COM Group Holding Limited			17,442				(74,676	)			(10,424	)
Net loss attributable to ordinary shareholders of YXT.COM Group Holding Limited			(188,645	)			(73,878	)			(10,313	)
—Weighted average number of ordinary shares basic and diluted			49,329,740				179,881,274				179,881,274
Net loss per share attributable to ordinary shareholders:
—Basic and diluted			(3.82	)			(0.41	)			(0.06	)

 

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YXT.COM GROUP HOLDING LIMITED

UNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS

FOR THE SIX MONTHS ENDED JUNE 30, 2024 AND 2025

(All amounts in thousands, except for share and per share data, unless otherwise noted)

 

		For the six months ended June 30,
		2024				2025
		RMB				RMB				US$
Net income/(loss)			21,359				(73,878	)			(10,313	)
Adjustments:
Gain on deconsolidation of CEIBS Publishing Group			(78,760	)			—				—
Share-based compensation			3,820				9,873				1,378
Change in fair value of derivative liabilities			(21,735	)			—				—
Adjusted loss before income taxes			(75,316	)			(64,005	)			(8,935	)
Adjusted income taxes			—				—				—
Adjusted net loss			(75,316	)			(64,005	)			(8,935	)

 

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