Core Insights - EpicQuest Education Group International Limited reported a 43% increase in revenue for the fiscal year 2024, primarily driven by the success of its international foundational programs [2][4] - The company is focusing on internationalization as a key strategy to enhance student enrollment and revenue streams [2][22] Financial Performance - Revenues for the fiscal year ended September 30, 2024, were $8.15 million, up from $5.71 million in the previous year, marking an increase of $2.44 million or 42.7% [4] - Gross profit increased to $5.31 million from $4.21 million, a rise of 26.1%, although gross margin decreased to 65.2% from 73.7% due to higher service costs [5] - Operating expenses rose to $12.7 million, an increase of 13.4% from $11.2 million, driven by higher general and administrative expenses and selling expenses [6] - The operating loss was $7.43 million, compared to a loss of $7.02 million in the previous year [7] - Net loss for the fiscal year was $6.57 million, an improvement from a net loss of $7.07 million in the prior year [8] Enrollment and Program Expansion - Davis University expanded its campus to downtown Toledo to accommodate expected growth in international student enrollment [3] - Enrollment in Davis University's foundational programs increased significantly, with 220 students for the 2024-2025 academic year compared to 102 students in the previous year [16] - The company has established agreements to enhance international student recruitment, including a new pathway for students from Southeast Asian and South American colleges to complete degrees at Davis University [18] Strategic Initiatives - The company is developing an AI-powered tutoring and learning platform to improve student engagement and achievement [3] - EpicQuest Education's internationalization strategy includes exporting educational programming to students in their home countries, creating a unique revenue stream [22] - The cooperative diploma programs at EduGlobal College are expected to enhance domestic recruiting efforts by providing students with practical work experience [19] Financial Condition - As of September 30, 2024, the company had $1.15 million in cash, a decrease of 76.9% from $4.97 million the previous year [10] - Working capital was negative $5.47 million, with a current ratio of 0.49x, down from a positive working capital of $1.83 million and a current ratio of 1.27x in the prior year [11] - Stockholders' equity decreased to $5.17 million, a drop of 43.4% from $9.14 million [11] Cash Flow and Financing - Net cash used in operating activities was $9.48 million, an increase from $5.25 million in the previous year [12] - The company generated $0.72 million from investing activities, primarily from the sale of property and equipment [13] - Net cash provided from financing activities was $4.95 million, with $0.8 million raised through equity financing [14]

Core Insights - EpicQuest Education Group International Limited (EEIQ) has announced a new Transfer Articulation Agreement with The Center of Advanced Studies (CAS) that is expected to increase international student enrollment by at least 20% [1][2] - The agreement will facilitate the transfer of credits for international students from five Southeast Asian and South American colleges to Davis University, allowing them to pursue associate and bachelor's degrees in business [2][3] - The agreement is part of EpicQuest Education's broader strategy to enhance internationalization and expand its student enrollment and academic offerings [4] Group 1: Agreement Details - The Transfer Articulation Agreement will be effective from December 1, 2024, and aims to create a pathway for students from CAS's International Studies Program to enroll in Davis University [1][2] - Students from the CAS program may begin attending Davis University as early as the Spring 2025 semester [2] - CAS operates its International Studies Program at multiple campuses, including locations in Japan, Myanmar, Sri Lanka, and Ecuador [3] Group 2: Strategic Implications - The agreement is expected to lead to a 20-25% increase in international student enrollment, enhancing Davis University's ability to enter Southeast Asian and South American markets [2] - EpicQuest Education's internationalization strategy focuses on collaborative programs that provide globalized learning experiences, preparing students for careers in the global economy [4] - The strategic growth plan of EpicQuest Education has already shown an increase in international student enrollment, contributing to strong financial results [4]

Company Overview - EpicQuest Education Group International Limited provides higher education solutions for domestic and international students in the US, Canada, and the UK [5][6] - The company owns EduGlobal University in British Columbia, Canada, and Davis University in Toledo, Ohio, where it holds a 70% ownership [5] - EpicQuest Education has recruiting relationships with Miami University Regional campuses and other universities in the UK, including the University of the West of Scotland and Coventry University [5][6] Event Participation - EpicQuest Education will present at the 17th annual LD Micro Main Event Conference on October 29, 2024, at 2:00 PM PT [2][3] - The LD Micro Main Event XVII will take place from October 28 to 30, 2024, featuring around 150 companies presenting in half-hour increments [3][4] Industry Context - LD Micro serves as an independent resource in the micro-cap space, providing a platform for discovering emerging companies [7] - The conference aims to establish itself as a key event in the small and micro-cap industry, fostering connections between companies and investors [3]

Core Insights - EpicQuest Education Group International Limited (EEIQ) is integrating AI into its operations to enhance student learning and academic outcomes [1][2] - The company aims to lead in the adoption of AI technologies in higher education, focusing on internationalization and improved recruitment processes [2][4] Group 1: AI Integration and Benefits - The planned AI-powered tutoring platform will offer adaptive learning, real-time feedback, and 24/7 availability, significantly improving student engagement and achievement [3] - AI will facilitate customized instruction, text-to-speech technology, and real-time translation for non-native speakers, enhancing the educational experience [2] - The integration of AI is expected to provide analytics on student performance and course effectiveness, enabling early intervention to improve graduation rates [3] Group 2: Strategic Growth and Internationalization - EpicQuest Education's growth strategy emphasizes internationalization, aiming to enhance global learning opportunities and pathways to university degrees for students [4] - The company operates EduGlobal University in Canada and holds a 70% stake in Davis University in Ohio, focusing on international recruitment [5] - Recent initiatives include establishing a subsidiary in Ohio for international educational programs related to kinesiology and recreation education [5]

MIDDLETOWN, Ohio, July 9, 2024 /PRNewswire/ -- EpicQuest Education Group International Limited (NASDAQ: EEIQ), ("EpicQuest Education", "EEIQ" or the "Company"), a provider of higher education for domestic and international students in the US, Canada and the UK, today announced that it recently expanded its Davis University campus to downtown Toledo, to accommodate an expected growth in enrollment metrics attributable to its internationalization strategy. "We are excited to announce the expansion of Davis Un ...

The Letter provides that the Company has a period of 180 calendar days from the date of the Letter, or until December 23, 2024, to regain compliance with the minimum bid price requirement. If at any time before December 23, 2024, the bid price of the Company's common shares closes at or above $1.00 per share for a minimum of 10 consecutive business days, Nasdaq will provide written confirmation of compliance to the Company. The receipt of the Letter has no immediate effect on the listing of the Company's co ...

EEIQ Recently Entered into a New Agreement with Peking University that Sustains its High Revenue Generating Foundational Programs MIDDLETOWN, Ohio, June 25, 2024 /PRNewswire/ -- EpicQuest Education Group International Limited (NASDAQ: EEIQ), ("EpicQuest Education", "EEIQ" or the "Company"), a provider of higher education for domestic and international students in the US, Canada and the UK, announced an operations update of its wholly-owned Davis University as to its China-based foundational programs and its ...

Once Fully Enrolled, EEIQ's Foundational Programs Represent a Revenue Stream of at Least $3.4 Million per Year Starting in 2025 MIDDLETOWN, Ohio, May 14, 2024 /PRNewswire/ -- EpicQuest Education Group International Limited (NASDAQ: EEIQ), ("EpicQuest Education", "EEIQ" or the "Company"), a provider of higher education for domestic and international students in the US, Canada and the UK, today announced that its owned and operated Davis University ("Davis") entered into a Cooperation Agreement (the "Agreemen ...

EEIQ's Mission of Internationalization Expected to Result in Strong FYE Operating Metrics MIDDLETOWN, Ohio, May 7, 2024 /PRNewswire/ -- EpicQuest Education Group International Limited (NASDAQ: EEIQ), ("EpicQuest Education", "EEIQ" or the "Company"), a provider of higher education for domestic and international students in the US, Canada and the UK, today announced that its Chief Financial Officer, Zhenyu Wu, and Board of Director's member, Craig Wilson, provided Company updates in a recent interview with G ...

EduGlobal's PTIB-Approved Programs Tripled and All Academic Programs Increased by 50% MIDDLETOWN, Ohio, April 22, 2024 /PRNewswire/ -- EpicQuest Education Group International Limited (NASDAQ: EEIQ), ("EpicQuest Education", "EEIQ" or the "Company"), a provider of higher education for domestic and international students in the US, Canada and the UK, today announced that on March 28, 2024, two new cooperative ("co-op") diploma programs at EduGlobal College ("EduGlobal") have been approved by Private Training I ...