RYB Education (RYB, $2.99) reports +318% fiscal Q2 revenue growth year-over-year
RYB Education Inc posted second-quarter FY21 revenue growth of +318.1% year-on-year, to $53.4 million.
Service revenues surged +342.2% from the year-ago quarter, while product revenue rose +80%.
Gross profit came in at $14.5 million, compared with a gross loss of -$9.5 million a year ago. The gross margin was 27.2%.
The operating margin was 16%.
Net income attributable to ordinary shareholders of the company for the second quarter was $6.2 million, compared with -$12.8 million net loss attributable to ordinary shareholders of RYB for the second quarter of 2020. Adjusted net income attributable to ordinary shareholders for the second quarter of 2021 was $6.8 million, compared with -$12.0 million of adjusted net loss attributable to ordinary shareholders in the year-ago period.
The company held $72.8 million in cash and equivalents as of June-end. Cash generated from operating activities for the quarter was $0.2 million.
Number of students enrolled at directly operated facilities was 37,166 as of June 30, compared with 31,023 a year ago.
"The recurrences of some COVID-19 cases in some regions during the first half of this year, however, cast some impact on the play-and-learn center operations," said CEO Yanlai Shi.
RYB expects Q3 revenue in the range of $41 million to $42 million, implying a year-over-year increase of 26% to 29%.
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Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
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a provider of early childhood education and care services
Industry MiscellaneousCommercialServices
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