MegaStudyEdu (215200) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 was KRW 237.7 billion, down 4.7% year-over-year, with net income at KRW 20.8 billion, a 27% increase from Q1 2024.

• Operating income rose to KRW 26.2 billion, up 29% year-over-year, driven by cost controls and improved gross margin.

• The company completed several mergers and divested its underperforming civil service business to improve financial structure.

Financial highlights

• Gross margin improved to 54.6% from 53.8% year-over-year.

• Cash and cash equivalents at quarter-end were KRW 43.3 billion, down from KRW 54.4 billion at year-end 2024.

• Total assets stood at KRW 904.1 billion, with equity of KRW 469.0 billion and liabilities of KRW 435.1 billion.

• Basic and diluted EPS for Q1 2025 were KRW 1,944, up from KRW 1,558 in Q1 2024.

Outlook and guidance

• The company plans to continue shareholder returns, targeting 60% of net income for dividends and share buybacks over 2024–2026.

• Ongoing focus on operational efficiency and digital content expansion is expected to support stable growth.