- RYB Education (RYB -4.4%) reports Q4 revenue growth of 12.8% Y/Y to $50.74M.
- Service revenues increased by 21.3% Y/Y to $46.6M whereas, product revenues decreased by 37.4% Y/Y to $4.1M.
- Franchise services revenue also increased due to the expansion of franchise network and an increase in average franchise fee.
- Gross margin increased 180 bps to 19.4%.
- Operating margin increased 629 bps to 6.51%.
- Adj. operating margin increased 565 bps to 8.09%.
- Adj. EBITDA margin increased 258 bps to 14.9%.
- Number of students enrolled at directly operated facilities was 30,806 (+30.4% Y/Y).
- Cash used in operating activities was $9.3M (-2.5% Y/Y).
- Total cash, equivalents and term deposits of $68.7M (-34% Y/Y), the decrease was primarily driven by acquisition related payments and capex.
- Previously: RYB Education EPS misses by $0.01 (March 31)