Core Insights - Grand Canyon Education, Inc. reported a service revenue of $261.1 million for Q3 2025, reflecting a 9.6% increase from $238.3 million in Q3 2024, primarily driven by a 7.9% rise in partner enrollments to 138,073 [2][4] - The company experienced a significant decrease in operating income, which fell to $18.0 million, a 62.6% decline compared to $48.2 million in the same quarter of the previous year, largely due to a $35.0 million reserve for litigation settlement [2][5] - Net income for Q3 2025 was $16.3 million, down 60.8% from $41.5 million in Q3 2024, with diluted net income per share decreasing to $0.58 from $1.42 [5][22] Financial Performance - For the nine months ended September 30, 2025, service revenue reached $798.0 million, a 7.8% increase from $740.4 million in the same period of 2024, attributed to a 7.9% rise in partner enrollments [10][21] - Operating income for the nine months was $157.8 million, down 10.0% from $175.4 million in 2024, with an operating margin of 19.8% compared to 23.7% in the prior year [10][21] - Adjusted EBITDA for Q3 2025 increased by 14.4% to $75.9 million from $66.3 million in Q3 2024, while for the nine months, it rose 9.8% to $245.3 million from $223.4 million [5][10] Enrollment and Operational Metrics - GCU enrollments increased to 132,486, a 7.7% rise from 2024, while off-campus classroom and laboratory site enrollments grew by 17.4% to 6,912 [2][4] - The company opened five new off-campus sites in 2025, bringing the total to 47, contributing positively to enrollment growth [2][4] - Revenue per student saw a slight decline due to contract modifications and a shift in student demographics towards those with lower net tuition rates [2][4] Tax and Income Details - Income tax expense for Q3 2025 was $5.4 million, a 50.4% decrease from $10.9 million in Q3 2024, with an effective tax rate of 24.9% compared to 20.8% in the previous year [5][10] - For the nine months ended September 30, 2025, net income was $129.4 million, down 10.3% from $144.4 million in 2024, with diluted net income per share at $4.60 compared to $4.91 [10][22] Liquidity and Capital Resources - The company's liquidity position decreased by $47.6 million from December 31, 2024, to September 30, 2025, primarily due to cash used for investing activities and share repurchases [7] - As of September 30, 2025, unrestricted cash and cash equivalents were $277.0 million, down from $324.6 million at the end of 2024 [7][23] Outlook - The company provided guidance for Q4 2025, projecting diluted EPS between $3.07 and $3.18, and for the full year 2025, diluted EPS is expected to be between $7.66 and $7.77 [8][11]

Core Viewpoint - Lichen China Limited has announced a reverse stock split with a ratio of one-for-two-hundred, effective March 3, 2025, to comply with Nasdaq's minimum bid price requirement [1][2][4]. Group 1: Reverse Stock Split Details - The reverse stock split will affect all issued and outstanding shares of the Company's ordinary shares, increasing the par value to $0.008 per share [3]. - Shareholders will not need to take any action to receive post-split shares, as their positions will be automatically adjusted [5]. - The reverse stock split aims to increase the market price per share, helping the Company meet Nasdaq's $1.00 minimum bid price listing requirement [4]. Group 2: Company Name Change - The Company has officially changed its name from Lichen China Limited to Lichen International Limited, effective March 3, 2025, following shareholder approval [6]. Group 3: Company Background - Lichen China Limited specializes in providing financial and taxation solution services, education support services, and software maintenance services, with over 18 years of experience in the industry [7].

As filed with the U.S. Securities and Exchange Commission on January 12, 2023. Registration No. 333-264624 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 6 TO FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Lichen China Limited (Exact name of registrant as specified in its charter) Not Applicable (Translation of Registrant's Name into English) Cayman Islands 8742 Not Applicable (State or other jurisdiction of incorporation or organization) (Primary Sta ...