Bright Scholar Education Holdings Limited

For Q2 fiscal 2025, revenue from continuing operations was GBP43.8 million, compared with GBP48.5 million in the same quarter last year. Gross profit from continuing operations was GBP13.2 million versus GBP15.0 million, and gross margin was 30.0% versus 30.8% year over year. SG&A expenses from continuing operations decreased 13.7% to GBP11.2 million, adjusted EBITDA was GBP3.1 million versus GBP3.6 million, net income was GBP3.2 million versus GBP0.3 million, and adjusted net income was GBP3.5 million versus GBP1.3 million. By segment, Overseas Study Counselling revenue increased 6.2% to GBP11.9 million, Schools revenue was GBP26.6 million, and Other revenue was GBP5.3 million. Cash and cash equivalents plus restricted cash were GBP46.3 million as of February 28, 2025, versus GBP54.3 million at the end of the prior fiscal year. Management did not provide next-quarter or full-year numeric guidance on the call, but said Q2 performance was in line with expectations and reiterated confidence in sustainable long-term growth.

Robert Niu framed the quarter as evidence of resilience in a challenging external environment and said the company made meaningful progress on its dual-engine growth strategy. He emphasized stable enrollment, higher revenue per enrollment in U.S. schools, stronger global recruitment momentum, and improved operational efficiency through lower SG&A. His tone was confident and upbeat, with repeated emphasis on long-term value creation and the strength of Bright Scholar’s global education platform.

Cindy Zhang highlighted stable year-over-year revenue overall, but pointed to better profitability driven by cost discipline and business mix. She cited revenue of GBP43.8 million, gross profit of GBP13.2 million, gross margin of 30.0%, SG&A down 13.7% to GBP11.2 million, adjusted EBITDA of GBP3.1 million, net income of GBP3.2 million, and adjusted net income of GBP3.5 million. She also noted cash and restricted cash of GBP46.3 million and said the quarter was in line with expectations.

There was no real analyst Q&A segment on this call, so no external concerns were raised. The management commentary centered on the company’s ability to offset macro pressure, including UK VAT policy impacts, through stable enrollment, better efficiency, and strong academic outcomes. They also reiterated that recruitment momentum remains strong in existing markets and that partnerships with local institutions are helping expand into new geographies.