Ambow Education Announces Second Half and Full-Year 2024 Financial Results

Core Viewpoint - Ambow Education Holding Ltd. has achieved full-year profitability in 2024, driven by the adoption of its AI-powered platform, HybriU, which integrates physical and digital learning experiences [2][4]. Financial Performance - In Q4 2024, net revenues reached $3.5 million, up from$2.4 million in Q4 2023, primarily due to the launch of HybriU [8]. - Gross profit for Q4 2024 was $2.3 million, with a gross profit margin of 65.7$1.3 million from $1.5 million in Q4 2023 [8]. - The company reported an operating income of$1.0 million in Q4 2024, a significant improvement from an operating loss of $0.3 million in Q4 2023 [8]. Yearly Financial Highlights - For the full fiscal year 2024, net revenues increased by 2.2$9.4 million from $9.2 million in 2023, driven by HybriU's revenue growth [9]. - Gross profit for the fiscal year 2024 was$5.0 million, up from $2.5 million in 2023, attributed to increased revenues from HybriU and reduced payroll expenses [9][10]. - Operating expenses for the fiscal year 2024 decreased by 16.2$5.7 million from $6.8 million in 2023 [14]. - The operating loss for the fiscal year 2024 narrowed to$0.7 million, compared to a loss of $4.3 million in 2023 [14]. - Net income attributable to ordinary shareholders in fiscal year 2024 was$0.3 million, or $0.005 per share, compared to a net loss of$3.2 million, or $0.06 per share in 2023 [14]. Strategic Outlook - The company plans to accelerate the adoption of HybriU in both U.S. and international markets in 2025, enhancing its AI capabilities to provide greater value to partners [4]. - Ambow is positioned for continued growth and increasing profitability due to a strong financial foundation and a differentiated first-to-market solution [4]. Company Overview - Ambow Education Holding Ltd. is an AI-driven technology company that offers phygital solutions for education, corporate conferencing, and live events through its flagship platform, HybriU [12].