Bright Scholar Announces Unaudited Financial Results for the Second Quarter of Fiscal 2024

Gross Profit Increased 40.2% YoY and Net Income Reached RMB2.9 million
Management to hold a conference call today at 9:00 a.m. Eastern Time

FOSHAN, China, April 19, 2024 /PRNewswire/ — Bright Scholar Education Holdings Limited (“Bright Scholar,” the “Company,” “we” or “our”) (NYSE: BEDU), a global premier education service company, today announced its unaudited financial results for its fiscal 2024 second quarter ended February 29, 2024.

SECOND QUARTER OF FISCAL 2024 FINANCIAL HIGHLIGHTS

  • Revenue was RMB521.4 million, an increase of 17.2% from the same quarter last fiscal year.
  • Gross profit was RMB161.7 million, an increase of 40.2% from the same quarter last fiscal year. Gross margin increased to 31.0% from 25.9% for the same quarter last fiscal year. Adjusted gross profit[1] was RMB164.9 million, an increase of 38.3% year over year.
  • Net income was RMB2.9 million, compared with a net loss of RMB50.8 million for the same quarter last fiscal year. Adjusted net income[2] was RMB7.1 million, compared with an adjusted net loss of RMB47.8 million for the same quarter last fiscal year.
  • Adjusted EBITDA[3] was RMB33.7 million, compared with an adjusted EBITDA loss of RMB26.6 million for the same quarter last fiscal year.
  • Basic and diluted net earnings per ordinary share were each RMB0.02, compared with a basic and diluted net loss per ordinary share of RMB0.42 for the same quarter last fiscal year. Adjusted basic and diluted net earnings per ordinary share[4] were each RMB0.06, compared with an adjusted basic and diluted net loss per ordinary share of RMB0.40 for the same quarter last fiscal year.

 

Revenues by Segment

(RMB in millions)

 

The second quarter
ended February
29/28,

YoY

% Change

% of total
revenue in
F2Q2024

2024

2023

Overseas Schools (CATS
Global Schools[5])

 

248.3

 

206.0

 

20.5 %

 

47.7 %

Complementary Education
Services[6]

 

214.1

 

179.0

 

19.5 %

 

41.0 %

Domestic Kindergartens & K-
12 Operation Services[7]

 

59.0

 

60.1

 

-1.5 %

 

11.3 %

Total

521.4

445.1

17.2 %

100.0 %

 

[1]  Adjusted gross profit is defined as gross profit excluding amortization of intangible assets. 

[2]  Adjusted net income/(loss) is defined as net income/(loss) excluding share-based compensation expenses, amortization of intangible assets, and tax effect of amortization of intangible assets.

[3]  Adjusted EBITDA is defined as net income/(loss) excluding interest income/(expense), net, income tax expense/benefit, depreciation and amortization, and share-based compensation expenses.

[4]  Adjusted basic and diluted earnings/(loss) per share is defined as adjusted net income/(loss) attributable to ordinary shareholders (net income/(loss) attributable to ordinary shareholders excluding share-based
compensation expenses, amortization of intangible assets, and tax effect of amortization of intangible assets) divided by the weighted average number of basic and diluted ordinary shares.

[5]  As of February 29, 2024, CATS Global Schools included 3 Stafford House locations in the UK, 4 CATS Colleges in the US and UK, the Cambridge School of Visual & Performing Arts and 3 independent boarding
schools in the UK.

[6]  The Complementary Education Services business comprises language training, overseas study counselling, career counselling, study tours and camps, as well as international contest training and others.

[7]   The Domestic Kindergartens & K-12 Operation Services business comprises for-profit kindergartens and operation services for students of domestic K-12 schools, including catering and procurement services.

For more information on these adjusted financial measures, please see the section captioned under “Non-GAAP Financial Measures” and the tables captioned “Reconciliations of GAAP and Non-GAAP Results”
set forth at the end of this release.

 

MANAGEMENT COMMENTARY 

Mr. Robert Niu, Chief Executive Officer of Bright Scholar, commented, “Our business has turned a corner, maintaining the solid growth and profitability trajectory we started at the beginning of the fiscal year. In the weaker market, we meticulously streamlined our global operations and right-sized our cost structure. In the second quarter, both our Overseas Schools and the Complementary Education Service business achieved double-digit year-over-year growth and we were profitable for the second consecutive quarter versus a net loss in the same period last fiscal year. Moreover, there remains ample room for growth, particularly in our Overseas business where we are gaining increasing operating leverage with scale. We further improved the utilization rates of our facilities and teaching resources, strengthening our well-established headquarters and operations in the UK, with the aim of reinforcing our competitive advantages and gaining greater market share. As we move forward, we will continue to build our high-growth, high-return businesses, gearing up to seize broad growth opportunities that will fortify our position as a global premier education service company.”

Ms. Cindy Zhang, Chief Financial Officer of Bright Scholar, added, “Our solid financial performance for the second fiscal quarter shows our businesses’ resilience and the strength of our diverse revenue model. Our total revenues increased by 17.2% year over year while our gross margin increased by 510 basis points as a result of our optimized cost structure and expense control measures. We continue to see recovery in our primary business lines, particularly the Overseas Schools business, with revenues increasing by 20.5% year over year, led by increases in both the number of students and the average tuition fees of overseas schools. The continued return of our overseas study counselling business also drove steady year-over-year growth of 19.5% in our Complementary Education Services segment. By maintaining a healthy balance between our growth momentum and costs, we are confident we can generate long-term value for our customers and shareholders alike.”

UNAUDITED FINANCIAL RESULTS FOR THE SECOND FISCAL QUARTER ENDED FEBRUARY 29, 2024

Revenue

Revenue was RMB521.4 million, representing a 17.2% increase from RMB445.1 million for the same quarter last fiscal year.

Overseas Schools: Revenue contribution was RMB248.3 million, representing a 20.5% increase from RMB206.0 million for the same quarter last fiscal year. The increase was mainly attributable to increases in both the number of students and the average tuition fees of overseas schools.

Complementary Education Services: Revenue contribution was RMB214.1 million, representing a 19.5% increase from RMB179.0 million for the same quarter last fiscal year. The increase was mainly attributable to the recovery of the overseas study counselling business, international contest training and other business.

Domestic Kindergartens & K-12 Operation Services: Revenue contribution was RMB59.0 million, representing a 1.5% decrease from RMB60.1 million for the same quarter last fiscal year.

Cost of Revenue

Cost of revenue was RMB359.8 million, or 69.0% of revenue, compared with RMB329.7 million, or 74.1% for the same quarter last fiscal year. The improvement was mainly attributable to cost-saving measures and efficiency enhancements in our headquarters.

Gross Profit, Gross Margin and Adjusted Gross Profit

Gross profit was RMB161.7 million, representing a 40.2% increase from RMB115.4 million for the same quarter last fiscal year. The increase was mainly attributable to the revenue growth in Overseas Schools and Complementary Education Services. Gross margin increased to 31.0% from 25.9% for the same quarter last fiscal year.

Adjusted gross profit was RMB164.9 million, representing a 38.3% increase from RMB119.2 million for the same quarter last fiscal year.

Selling, General and Administrative Expenses

Total SG&A expenses were RMB146.8 million, representing a 5.8% decrease from RMB155.9 million for the same quarter last fiscal year. The decrease was mainly attributable to cost-saving measures and efficiency enhancements in our headquarters.

Operating Income, Operating Margin and Adjusted Operating Income

Operating income was RMB17.3 million, compared with an operating loss of RMB39.3 million for the same quarter last fiscal year. Operating margin was 3.3%, compared with negative 8.8% for the same quarter last fiscal year.

Adjusted operating income[8] was RMB22.1 million, compared with an adjusted operating loss of RMB35.4 million for the same quarter last fiscal year.

Net Income and Adjusted Net Income 

Net income was RMB2.9 million, compared with a net loss of RMB50.8 million for the same quarter last fiscal year.

Adjusted net income was RMB7.1 million, compared with an adjusted net loss of RMB47.8 million for the same quarter last fiscal year.

Adjusted EBITDA

Adjusted EBITDA was RMB33.7 million, compared with an adjusted EBITDA loss of RMB26.6 million for the same quarter last fiscal year.

Earnings per ordinary share/ADS and Adjusted Earnings per ordinary share/ADS

Basic and diluted net earnings per ordinary share attributable to ordinary shareholders were both RMB0.02, compared with basic and diluted net loss per ordinary share of RMB0.42 for the same quarter last fiscal year.

Adjusted basic and diluted net earnings per ordinary share attributable to ordinary shareholders were both RMB0.06, compared with adjusted basic and diluted net loss per ordinary share of RMB0.40 for the same quarter last fiscal year.

Basic and diluted net earnings per ADS attributable to ADS holders were both RMB0.08, compared with basic and diluted net loss per ADS of RMB1.68 for the same quarter last fiscal year.

Adjusted basic and diluted net earnings per ADS[9] attributable to ADS holders were both RMB0.24, compared with adjusted basic and diluted net loss per ADS of RMB1.60 for the same quarter last fiscal year.

Cash and Working Capital

As of February 29, 2024, the Company had cash and cash equivalents and restricted cash of RMB496.9 million (US$69.0 million), compared with RMB567.2 million as of August 31, 2023.

CONFERENCE CALL

The Company’s management will host an earnings conference call at 9:00 a.m. U.S. Eastern Time (9:00 p.m. Beijing/Hong Kong Time) on April 19, 2024.

Dial-in details for the earnings conference call are as follows:

Mainland China:

4001-201203

Hong Kong:

800-905945

United States:

1-888-346-8982

International: 

1-412-902-4272

Participants should dial-in at least 5 minutes before the scheduled start time and ask to be connected to the call for “Bright Scholar Education Holdings Limited.”

Additionally, a live and archived webcast of the conference call will be available on the Company’s investor relations website at http://ir.brightscholar.com/.

A replay of the conference call will be accessible after the conclusion of the live call until April 26, 2024, by dialing the following telephone numbers:

United States Toll Free:

1-877-344-7529

International:

1-412-317-0088

Replay Passcode:

6407277

CONVENIENCE TRANSLATION

The Company’s reporting currency is Renminbi (“RMB”). However, periodic reports made to shareholders will include current period amounts translated into U.S. dollars using the prevailing exchange rates at the balance sheet date, for the convenience of readers. Translations of balances in the condensed consolidated balance sheets, and the related condensed consolidated statements of operations, and cash flows from RMB into U.S. dollars as of and for the quarter ended February 29, 2024 are solely for the convenience of the readers and were calculated at the rate of US$1.00=RMB7.1977, representing the noon buying rate set forth in the H.10 statistical release of the U.S. Federal Reserve Board on February 29, 2024. No representation is made that the RMB amounts could have been, or could be, converted, realized or settled into US$ at that rate on February 29, 2024, or at any other rate.

NON-GAAP FINANCIAL MEASURES

In evaluating our business, we consider and use certain non-GAAP measures, including primarily adjusted EBITDA, adjusted net income/(loss), adjusted gross profit/(loss), adjusted operating income/(loss), adjusted net earnings/(loss) per share attributable to ordinary shareholders/ADS holders basic and diluted as supplemental measures to review and assess our operating performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. We define adjusted gross profit/(loss) as gross profit/(loss) excluding amortization of intangible assets. We define adjusted EBITDA as net income/(loss) excluding interest income/(expense), net, income tax expense/benefit, depreciation and amortization, and share-based compensation expenses. We define adjusted net income/(loss) as net income/(loss) excluding share-based compensation expenses, amortization of intangible assets and tax effect of amortization of intangible assets. We define adjusted operating income/(loss) as operating income/(loss) excluding share-based compensation expenses and amortization of intangible assets. Additionally, we define adjusted net earnings/(loss) per share attributable to ordinary shareholders/ADS holders, basic and diluted, as adjusted net income/(loss) attributable to ordinary shareholders/ADS holders (net income/(loss) to ordinary shareholders/ADS holders excluding share-based compensation expenses, amortization of intangible assets and tax effect of amortization of intangible assets) divided by the weighted average number of basic and diluted ordinary shares or ADSs.

We incur amortization expense of intangible assets related to various acquisitions that have been made in recent years. These intangible assets are valued at the time of acquisition and are then amortized over a period of several years after the acquisition. We believe that exclusion of these expenses allows greater comparability of operating results that are consistent over time for the Company’s newly-acquired and long-held business as the related intangibles do not have significant connection to the growth of the business. Therefore, we provide exclusion of amortization of intangible assets to define adjusted gross profit, adjusted operating income/(loss), adjusted net income/(loss), and adjusted net earnings/(loss) per share attributable to ordinary shareholders/ADS holders, basic and diluted.

We present the non-GAAP financial measures because they are used by our management to evaluate our operating performance and formulate business plans. Such non-GAAP measures include adjusted EBITDA, adjusted net income/(loss), adjusted gross profit/(loss), adjusted operating income/(loss), adjusted net earnings/(loss) per share attributable to ordinary shareholders/ADS holders basic and diluted. Non-GAAP financial measures enable our management to assess our operating results without considering the impact of non-cash charges, including depreciation and amortization and share-based compensation expenses, and without considering the impact of non-operating items such as interest income/(expense), net; income tax expense/benefit; share-based compensation expenses; amortization of intangible assets and tax effect of amortization of intangible assets. We also believe that the use of these non-GAAP measures facilitates investors’ assessment of our operating performance.

The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using these non-GAAP financial measures is that they do not reflect all items of income and expense that affect our operations. Interest income/(expense), net; income tax expense/benefit; depreciation and amortization; share-based compensation expense; and tax effect of amortization of intangible assets, have been and may continue to be incurred in our business and are not reflected in the presentation of these non-GAAP measures, including adjusted EBITDA or adjusted net income/(loss). Further, these non-GAAP measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited.

 

[8]   Adjusted operating income/(loss) is defined as operating income/(loss) excluding share-based compensation expenses and amortization of intangible assets.

[9]   Adjusted basic and diluted earnings per American depositary share (“ADS”) is defined as adjusted net income attributable to ADS shareholders (net income attributable to ADS shareholders excluding share-based compensation expenses, amortization of intangible assets, and tax effect of amortization of intangible assets) divided by the weighted average number of basic and diluted ADSs.

 

About Bright Scholar Education Holdings Limited

Bright Scholar is a premier global education service Group. The Company primarily provide quality international education to global students and equips them with the critical academic foundation and skillsets necessary to succeed in the pursuit of higher education.  

For more information, please visit: https://ir.brightscholar.com/.

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, the Company’s business plans and development, which can be identified by terminology such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Such statements are based upon management’s current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control, which may cause the Company’s actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

IR Contact:
Email: [email protected]
Phone: +86 (10) 6508-0677/ +1-212-481-2050

Media Contact:
Email: [email protected]
Phone: +86-757-2991-6814

 

BRIGHT SCHOLAR EDUCATION HOLDINGS LIMITED

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(Amounts in thousands)

As of

August 31,

February 29,

2023

2024

RMB

RMB

USD

ASSETS

Current assets

Cash and cash equivalents 

537,325

474,652

65,945

Restricted cash  

28,261

21,958

3,051

Short term investment

29,887

4,152

Accounts receivable          

19,209

28,028

3,894

Amounts due from related
     parties, net   

188,445

138,842

19,290

Other receivables, deposits and
     other assets, net

148,679

148,554

20,639

Inventories

5,480

5,287

734

Total current assets     

927,399

847,208

117,705

Restricted cash – non-current

1,650

250

35

Property and equipment, net

414,225

385,877

53,611

Intangible assets, net

343,077

333,282

46,304

Goodwill, net     

1,328,872

1,319,929

183,382

Long-term investments, net    

36,070

35,758

4,968

Prepayments for construction
     contracts

1,711

1,577

219

Deferred tax assets, net     

1,810

1,712

238

Other non-current assets, net

15,249

15,322

2,129

Operating lease right-of-use
     assets – non current

1,549,447

1,479,290

205,523

Total non-current assets             

3,692,111

3,572,997

496,409

TOTAL ASSETS    

4,619,510

4,420,205

614,114

 

 

BRIGHT SCHOLAR EDUCATION HOLDINGS LIMITED

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS-CONTINUED

(Amounts in thousands)

As of

August 31,

February 29,

2023

2024

RMB

RMB

USD

LIABILITIES AND EQUITY

Current liabilities

Accounts payable

105,193

93,705

13,019

Amounts due to related parties

311,451

292,199

40,596

Accrued expenses and other
     current liabilities

279,690

218,821

30,402

Income tax payable

99,367

97,089

13,489

Contract liabilities – current

541,683

454,196

63,103

Refund liabilities – current 

17,572

17,652

2,452

Operating lease liabilities
     current

125,447

127,963

17,778

Total current liabilities

1,480,403

1,301,625

180,839

Non-current contract liabilities

2,116

2,726

379

Deferred tax liabilities, net

42,093

40,960

5,691

Operating lease liabilities – non
     current         

1,523,242

1,460,054

202,850

Total non-current liabilities        

1,567,451

1,503,740

208,920

TOTAL LIABILITIES            

3,047,854

2,805,365

389,759

EQUITY

Share capital      

8

8

1

Additional paid-in capital  

1,697,370

1,698,990

236,046

Statutory reserves              

20,155

20,418

2,837

Accumulated other
     comprehensive income

172,230

160,790

22,339

Accumulated deficit           

(473,154)

(415,763)

(57,763)

Shareholders’ equity   

1,416,609

1,464,443

203,460

Non-controlling interests            

155,047

150,397

20,895

TOTAL EQUITY   

1,571,656

1,614,840

224,355

TOTAL LIABILITIES AND EQUITY   

4,619,510

4,420,205

614,114

 

 

BRIGHT SCHOLAR EDUCATION HOLDINGS LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Amounts in thousands, except for shares and per share data)

Three Months Ended February 29/28

Six Months Ended February 29/28

2023

2024

2023

2024

RMB

RMB

USD

RMB

RMB

USD

Revenue

445,071

521,446

72,446

977,531

1,094,182

152,018

Cost of revenue

(329,719)

(359,769)

(49,984)

(682,349)

(729,067)

(101,292)

Gross profit

115,352

161,677

22,462

295,182

365,115

50,726

Selling, general and administrative expenses

(155,870)

(146,767)

(20,391)

(295,714)

(284,746)

(39,561)

Other operating income

1,251

2,347

326

26,182

11,402

1,584

Operating (loss)/income

(39,267)

17,257

2,397

25,650

91,771

12,749

Interest expense, net

(1,969)

(2,821)

(392)

(5,728)

(2,435)

(338)

Investment (loss)/income

(517)

(72)

(1,463)

478

66

Other expenses

(6,935)

(2,194)

(305)

(2,753)

(3,390)

(471)

(loss)/income before income taxes and share of
equity in (loss)/profit of unconsolidated affiliates

(48,171)

11,725

1,628

15,706

86,424

12,006

Income tax expense

(2,496)

(8,773)

(1,219)

(24,166)

(24,445)

(3,396)

Share of equity in (loss)/profit of unconsolidated affiliates

(165)

(59)

(8)

(348)

124

17

Net (loss)/income

(50,832)

2,893

401

(8,808)

62,103

8,627

Net (loss)/income attributable to non-controlling
interests

(469)

(69)

(10)

3,623

4,449

618

Net (loss)/income attributable to ordinary
shareholders

(50,363)

2,962

411

(12,431)

57,654

8,009

Net (loss)/income per share attributable to

   ordinary shareholders

Basic

(0.42)

0.02

0.00

(0.10)

0.49

0.07

Diluted

(0.42)

0.02

0.00

(0.10)

0.49

0.07

Weighted average shares used in

  calculating net (loss)/income per ordinary share:

Basic

118,669,795

118,669,795

118,669,795

118,669,795

118,669,795

118,669,795

Diluted

118,669,795

118,669,795

118,669,795

118,669,795

118,669,795

118,669,795

Net (loss)/income per ADS

Basic

(1.68)

0.08

0.01

(0.40)

1.96

0.28

Diluted

(1.68)

0.08

0.01

(0.40)

1.96

0.28

 

 

BRIGHT SCHOLAR EDUCATION HOLDINGS LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Amounts in thousands)

Three Months Ended February 29/28

Six Months Ended February 29/28

2023

2024

2023

2024

RMB

RMB

USD

RMB

RMB

USD

Net cash generated from/(used in) operating activities

50,203

(49,967)

(6,942)

23,536

(73,646)

(10,232)

Net cash generated from/(used in) investing activities

(28,293)

36,733

5,103

(11,956)

19,048

2,646

Net cash used in financing activities

(43,808)

(11,048)

(1,535)

(49,142)

(12,935)

(1,797)

Effect of exchange rate changes on cash and cash
equivalents, and restricted cash

(5,656)

(408)

(57)

7,742

(2,843)

(395)

Net change in cash and cash equivalents,

and restricted cash

(27,554)

(24,690)

(3,431)

(29,820)

(70,376)

(9,778)

Cash and cash equivalents, and restricted cash

at beginning of the period

855,518

521,550

72,461

857,784

567,236

78,808

Cash and cash equivalents, and restricted cash

at end of the period

827,964

496,860

69,030

827,964

496,860

69,030

 

 

BRIGHT SCHOLAR EDUCATION HOLDINGS LIMITED

Reconciliations of GAAP and Non-GAAP Results

(Amounts in thousands, except for shares and per share data)

Three Months Ended February 29/28

Six Months Ended February 29/28

2023

2024

2023

2024

RMB

RMB

USD

RMB

RMB

USD

Gross profit

115,352

161,677

22,462

295,182

365,115

50,726

Add: Amortization of intangible assets

3,834

3,194

444

7,632

6,516

905

Adjusted gross profit

119,186

164,871

22,906

302,814

371,631

51,631

Operating (loss)/income

(39,267)

17,257

2,397

25,650

91,771

12,749

Add: Share-based compensation expenses

1,620

225

1,620

225

Add: Amortization of intangible assets

3,834

3,194

444

7,632

6,516

905

Adjusted operating (loss)/income

(35,433)

22,071

3,066

33,282

99,907

13,879

Net (loss)/income

(50,832)

2,893

401

(8,808)

62,103

8,627

Add: Share-based compensation expenses

1,620

225

1,620

225

Add: Amortization of intangible assets

3,834

3,194

444

7,632

6,516

905

Add: Tax effect of amortization of intangible
assets

(787)

(651)

(90)

(1,564)

(1,320)

(183)

Adjusted net (loss)/income

(47,785)

7,056

980

(2,740)

68,919

9,574

Net (loss)/income attributable to ordinary
shareholders

(50,363)

2,962

411

(12,431)

57,654

8,009

Add: Share-based compensation expenses

1,620

225

1,620

225

Add: Amortization of intangible assets

3,834

3,194

444

7,632

6,516

905

Add: Tax effect of amortization of intangible
assets

(787)

(651)

(90)

(1,564)

(1,320)

(183)

Adjusted net (loss)/income attributable to
ordinary shareholders

(47,316)

7,125

990

(6,363)

64,470

8,956

Net (loss)/income

(50,832)

2,893

401

(8,808)

62,103

8,627

Add: Interest expense, net

1,969

2,821

392

5,728

2,435

338

Add: Income tax expense

2,496

8,773

1,219

24,166

24,445

3,396

Add: Depreciation and amortization

19,777

17,624

2,449

42,376

33,917

4,712

Add: Share-based compensation expenses

1,620

225

1,620

225

Adjusted EBITDA

(26,590)

33,731

4,686

63,462

124,520

17,298

Weighted average shares used

   in calculating adjusted net (loss)/income per
ordinary share:

Basic and Diluted

118,669,795

118,669,795

118,669,795

118,669,795

118,669,795

118,669,795

Adjusted net (loss)/income per share
attributable

   to ordinary shareholders

Basic

(0.40)

0.06

0.01

(0.05)

0.54

0.08

Diluted

(0.40)

0.06

0.01

(0.05)

0.54

0.08

Adjusted net (loss)/income per ADS

Basic

(1.60)

0.24

0.04

(0.20)

2.16

0.32

Diluted

(1.60)

0.24

0.04

(0.20)

2.16

0.32

 

Cision View original content:https://www.prnewswire.com/news-releases/bright-scholar-announces-unaudited-financial-results-for-the-second-quarter-of-fiscal-2024-302122007.html

SOURCE Bright Scholar Education Holdings Ltd.