Revenue Performance - Net revenues in the fourth quarter of 2024 were 2.4 million in the same period of 2023, primarily due to the launch of HybriU[8] - For the full fiscal year 2024, net revenues increased by 2.2% to 9.2 million in 2023, driven by revenue growth from HybriU[13] - Total net revenues for 2023 were 9,392,000 in 2024, reflecting a decline of approximately 2.4%[18] Profitability - Gross profit in the fourth quarter of 2024 was 1.2 million and 50.0% in the fourth quarter of 2023[8] - Gross profit for fiscal year 2024 was 2.5 million in 2023, attributed to increased revenues from HybriU and reduced payroll expenses[13] - Gross profit increased to 2,494,000 in 2023, representing a growth of 100%[18] - Net income attributable to ordinary shareholders in fiscal year 2024 was 0.005 per share, compared to a net loss of 0.06 per share in 2023[13] - Net income attributable to ordinary shareholders turned positive at 3,175,000 in 2023[18] - Net loss income per share improved to 0.06 in 2023[18] Operating Expenses - Operating expenses in the fourth quarter of 2024 decreased by 13.3% to 1.5 million in the same period of 2023[8] - Total operating expenses decreased to 6,799,000 in 2023, a reduction of approximately 16.1%[18] - Research and development expenses slightly decreased to 484,000 in 2023[18] Loss and Improvement - Operating loss for fiscal year 2024 narrowed to 4.3 million in 2023[13] - Operating loss significantly reduced to 4,305,000 in 2023, indicating an improvement of approximately 83.2%[18] Cash and Resources - As of December 31, 2024, the company maintained cash resources of 1.1 million and restricted cash of 1.3 million HybriU licensing agreement was signed in the fourth quarter of 2024, marking continued expansion into international markets[3] Tax Benefits - The company experienced a significant increase in income tax benefit, rising to 14,000 in 2023[18]
Ambow Education(AMBO) - 2024 Q4 - Annual Report