EpicQuest Education Announces First Half Fiscal Year 2025 Financial Results

Core Insights - EpicQuest Education Group International Limited reported a 29% increase in revenue for the first half of fiscal 2025 compared to the same period in the previous year, driven by the expansion of international programs [2][4] - The company achieved a gross margin improvement to 64% and reduced operating costs significantly, contributing to a notable decrease in operating loss and net loss [5][7][8] Financial Performance - Revenues for the first half of fiscal 2025 were $5.37 million, up from $4.16 million in the same period of fiscal 2024, marking a $1.21 million increase or 29.1% [4] - Gross profit increased to $3.42 million, a rise of $1.02 million or 42.5%, with costs of services rising only 10.8% [5] - Operating expenses decreased to $5.38 million, down $1.17 million or 17.9%, primarily due to a 22.9% reduction in general and administrative expenses [6] - The operating loss was reduced to $1.96 million, a decrease of $2.08 million or 52.7% compared to the prior year [7] - Net loss for the first half of fiscal 2025 was $0.16 million, significantly improved from a net loss of $3.52 million in the same period of fiscal 2024, representing a decrease of $3.36 million or 95.5% [8] Cash Flow and Liquidity - Net cash used in operating activities was $2.29 million, a significant reduction from $10.1 million in the same period of the previous year [11] - Net cash provided by investing activities was $1.50 million, up from $0.75 million in the prior year, attributed to proceeds from the sale of real estate properties [12] - As of March 31, 2025, the company had $0.33 million in cash and cash equivalents, a decrease of 71.3% from $1.15 million as of September 30, 2024 [10] Strategic Initiatives - The company is expanding its global recruitment initiatives, particularly in China, Southeast Asia, LATAM, Africa, and the Middle East [3] - EpicQuest Education continues to strengthen its partnerships with prestigious universities worldwide, enhancing its internationalization strategy [3]