- RYB Education Inc RYB reported first-quarter FY21 revenue growth of 111.8% year-on-year at $36.7 million.
- The jump in the revenue was mainly driven by an increase in tuition fees revenue as the company's directly operated facilities in China returned to normalcy.
- Product revenues rose 208.9% Y/Y to $1.6 million, led by a rebound in the amount of merchandise sold through the franchise network.
- Gross profit for the quarter was $3.4 million.
- Adjusted operating loss narrowed by 93.7% to $1.6 million.
- Adjusted EBITDA of $3.8 million was reported for Q1.
- The company posted a loss of $0.06 per share, narrowing 93.7% Y/Y.
- Cash generated from operating activities saw a 62.8% hike Y/Y to $22.8 million.
- RYB’s cash and equivalents totaled $74.2 million as of March 31, 2021.
- Outlook: The company now expects second quarter 2021 net revenues of $51.0 million to $52.0 million, year-over-year increase of 299% to 307% from $12.8 million.
- Price action: RYB shares traded higher by 0.47% at $4.25 on the last check Wednesday.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.
Rate collection and criteria: Click here for more information on rate collection and criteria.