The artificial intelligence space has garnered a lot of attention from investors in recent times and hence, it might be a good idea to take a closer look at the LAIX Inc (NYSE:LAIX) stock.
Although the artificial intelligence firm has seen its stock decline by as much as 10% over the course of the past month, it might be a good move for investors to figure out if the decline could be an opportunity or not. There has been no news about LAIX in recent days but back on August 26, the company announced its unaudited results for the second fiscal quarter that ended on June 30, 2021.
The Chinese firm announced that its net income for the period came in at RMB14 million, which was higher than the RMB12.2 million that it had generated in the previous quarter. In addition to that, it reflected a remarkable turnaround from the RMB92.5 million net loss that LAIX had suffered in the prior year period. On the other hand, the gross margins for the second quarter stood at 80.4% and that was an improvement on the 77.6% in the previous quarter. In the prior year period, the gross margins had come in at 71.9%.