EDU (EDU) Trading update summary

Financial performance

• Achieved record first-half results with revenue of $53.5m, up 48% year-on-year at guidance midpoint.

• EBITDA rose 51% to $16.5m, and profit before tax increased 57% to $13.0m.

• EBITDA margin improved by 1 percentage point to 31%, despite higher costs from new course launches and organisational expansion.

• Net cash position reached $24.0m at 30 June 2026, after $15.2m in dividends and share buybacks.

Operational highlights

• Higher Education enrolments grew 57%, driven by new undergraduate and postgraduate courses.

• Strong international and domestic student demand supported enrolment growth, with larger graduating cohorts expected from 2027.

• Growth in Higher Education offset softer Vocational Education and Training (VET) enrolments, reflecting a strategic shift.

• Early success seen in the new onshore recruitment model following regulatory reforms.

Strategic outlook

• Continued investment in new courses, people, systems, and campuses to support growth.

• Focus remains on expanding course portfolio and recruitment channels for sustainable long-term growth.

• Strong balance sheet positions the group to pursue further domestic, offshore, and onshore opportunities.