Ambow Education Announces First Quarter of 2026 Financial Results

Ambow Education (NYSE American: AMBO) reported unaudited Q1 2026 results with net revenue rising 21.0% to $2.8 million from $2.3 million, driven mainly by HybriU growth.

Rhea-AI Summary

Ambow Education (NYSE American: AMBO) reported unaudited Q1 2026 results with net revenue rising 21.0% to $2.8 million from $2.3 million, driven mainly by HybriU growth.

Gross profit increased 26.2% to $1.7 million with a 60.2% margin, operating income reached $0.4 million, and net income attributable to ordinary shareholders was $0.4 million, or $0.15 per ADS. Cash resources totaled $6.9 million.

Positive

• Net revenues up 21.0% year over year to $2.8 million
• Gross profit up 26.2% year over year to $1.7 million
• Gross margin expanded to 60.2% from 57.7% year over year
• Operating income increased to $0.4 million from $0.1 million
• Net income attributable to shareholders rose to $0.4 million, or $0.15 per ADS
• Cash resources of $6.9 million as of March 31, 2026

Negative

• None.

Argus May 12 session

+8.53% close to close Open Argus

Details

News Market Reaction – AMBO

On May 12, the first trading day after this news, AMBO closed 8.53% above the previous close.

Data tracked by StockTitan Argus for the May 12 session.

Market Context

On May 12, the first trading day after this news, the stock closed 8.5% above the previous close. A ...

Analysis

On May 12, the first trading day after this news, the stock closed 8.5% above the previous close. A strong positive reaction aligns with clear Q1 2026 improvements in revenue, margins and profitability. Historically, AMBO’s earnings headlines averaged a -12.64% move, so a gain of 5.69% would have marked a sharp break from past selling on results. Investors would still need to watch execution on HybriU growth and cash levels of $6.9 million when evaluating sustainability.

Key Figures

Q1 2026 net revenues: $2.8 million Q1 2026 gross profit: $1.7 million Q1 2026 gross margin: 60.2% +5 more

Q1 2026 net revenues

$2.8 million

First quarter 2026, up from $2.3 million in Q1 2025

Q1 2026 gross profit

$1.7 million

First quarter 2026, up from $1.3 million in Q1 2025

Q1 2026 gross margin

60.2%

First quarter 2026, vs 57.7% in Q1 2025

Q1 2026 operating income

$0.4 million

First quarter 2026, vs $0.1 million in Q1 2025

Q1 2026 net income

$0.4 million

Net income attributable to ordinary shareholders, Q1 2026

Q1 2026 EPS

$0.15 per ADS

Basic and diluted EPS for first quarter 2026

Cash resources

$6.9 million

As of March 31, 2026 (cash, cash equivalents and restricted cash)

Cash & equivalents

$4.2 million

Cash and cash equivalents as of March 31, 2026

Previous Earnings Reports

4 past events · Latest: Aug 05

Same Type 4 events

1. Aug 05

   Quarterly earnings

   24h Move

   -0.1%

   Reported strong Q2 and H1 2025 growth and higher profitability.

2. Mar 28

   Annual results

   24h Move

   -6.0%

   Announced 2024 profitability and major HybriU licensing deal.

3. Mar 28

   Annual report filing

   24h Move

   -6.0%

   Filed Form 20-F with audited 2024 financial statements.

4. Dec 30

   Quarterly earnings

   24h Move

   -38.4%

   Reported mixed Q2/H1 2024 with improved margins and profitability.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

phygital, ads, restricted cash, form 10-q

4 terms

phygital technical

"a U.S.-based innovator of AI-powered phygital (physical + digital) solutions for education"

Phygital describes a strategy that blends physical and digital customer experiences so they feel seamless—like using a store kiosk that links to an online account or scanning a product in a shop to see online reviews. Investors care because phygital approaches can boost sales, lower friction, and generate richer customer data, affecting revenue growth, marketing costs, and a company’s competitive edge in both online and real-world markets.

ads financial

"or $0.15 per basic and diluted ADS, compared with $0.1 million, or $0.04 per basic"

Ads are paid promotional messages a company places across media — online, on TV, in print, or on social platforms — to attract customers, explain products, or shape public perception. For investors, ads matter because they drive sales growth, affect how much a company must spend to win customers, and influence brand strength and long-term value. Ads can also create regulatory or reputational risk if claims are misleading, which can affect profits and stock price.

restricted cash financial

"cash and cash equivalents of $4.2 million and restricted cash of $2.7 million"

Cash that a company holds but cannot use for day-to-day operations because it is set aside for a specific purpose—such as meeting loan covenants, serving as collateral, funding an escrow, or complying with regulations. Like money in a locked savings account earmarked for a bill, restricted cash reduces the cash available to run the business and pay dividends or debts, so investors treat it differently when assessing a company’s true short-term financial strength.

form 10-q regulatory

"available on its Quarterly Report on Form 10-Q, to be filed with the U.S. Securities"

A Form 10-Q is a detailed report that publicly traded companies are required to file with regulators three times a year, providing an update on their financial health and business activities. It is important for investors because it offers timely insights into a company's performance, helping them make informed decisions about buying or selling stocks. Think of it as a regular check-up report that shows how well a company is doing.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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CUPERTINO, Calif., May 11, 2026 (GLOBE NEWSWIRE) -- Ambow Education Holding Ltd. (“Ambow” or the “Company”) (NYSE American: AMBO) a U.S.-based innovator of AI-powered phygital (physical + digital) solutions for education, corporate collaboration and live events, today announced its unaudited financial and operating results for the three-month period ended March 31, 2026.

First Quarter of 2026 and Recent Financial and Operating Highlights

“This quarter demonstrates the operational leverage in our model. Our top-line grew approximately 21% year over year, gross profit margin expanded to 60.2%, and operating income more than tripled on essentially flat operating expenses. We are particularly encouraged by HybriU revenue more than doubling year over year, which we believe validates demand for our AI-driven phygital platform. With $6.9 million in cash resources and growing momentum across both our education and HybriU businesses, Ambow is well-positioned to continue investing in our product roadmap while maintaining financial discipline,” said Dr. Jin Huang, Chief Executive Officer of Ambow Education.

First Quarter 2026 Financial Results

Net revenues for the first quarter of 2026 increased by 21.0% to $2.8 million from $2.3 million for the same period of 2025. The increase was primarily driven by HybriU revenue growth.

Gross profit for the first quarter of 2026 increased by 26.2% to $1.7 million from $1.3 million for the same period of 2025. Gross profit margin was 60.2% for the first quarter of 2026, compared with 57.7% for the first quarter of 2025.

Operating expenses for the first quarter of 2026 remained essentially stable at $1.2 million compared with the same period of 2025.

Operating income for the first quarter of 2026 was $0.4 million, compared with $0.1 million for the same period of 2025.

Net income attributable to ordinary shareholders for the first quarter of 2026 was $0.4 million, or $0.15 per basic and diluted ADS, compared with $0.1 million, or $0.04 per basic and diluted ADS, for the same period of 2025.

As of March 31, 2026, Ambow maintained cash resources of $6.9 million, comprising cash and cash equivalents of $4.2 million and restricted cash of $2.7 million.

The Company’s financial and operating results for the first quarter of 2026 will also be available on its Quarterly Report on Form 10-Q, to be filed with the U.S. Securities and Exchange Commission (the “SEC”) at www.sec.gov. 
  
About Ambow

Ambow Education Holding Ltd. is a U.S.-based, AI-driven technology company offering phygital (physical + digital) solutions for education, corporate conferencing and live events. Through its flagship platform, HybriU, Ambow is shaping the future of learning, collaboration and communication—delivering immersive, intelligent, real-time experiences across industries. For more information, visit Ambow’s corporate website at https://www.ambow.com/.

Follow us on X: @Ambow_Education
Follow us on LinkedIn: Ambow-education-group

Safe Harbor Statement

This press release contains statements of a forward-looking nature. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as “will,” “expects,” “believes,” “anticipates,” “intends,” “estimates” and similar statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about Ambow and the industry. All information provided in this press release is as of the date hereof, and Ambow undertakes no obligation to update any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although Ambow believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.

For more information, please contact:

Ambow Education Holding Ltd.
E-mail: ir@ambow.com 

AMBOW EDUCATION HOLDING LTD. CONDENSED CONSOLIDATED BALANCE SHEETS (All amounts in thousands, except for share and per share data)
				As of December 31,				As of March 31,
		Note		2025				2026
				(Audited)				(Unaudited)
ASSETS
Current assets:
Cash and cash equivalent		4		$	831			$	4,202
Restricted cash		4			7,260				2,700
Accounts receivable, net		5			2,288				2,928
Inventory					80				80
Prepaid and other current assets		6			410				585
Total current assets					10,869				10,495
Non-current assets:
Property and equipment, net		7			1,984				1,961
Intangible assets, net					1,662				1,629
Other non-current assets, net		8			969				924
Operating lease right-of-use asset		15			5,312				5,055
Total non-current assets					9,927				9,569
Total assets				$	20,796			$	20,064
LIABILITIES
Current liabilities:
Short-term borrowings		9		$	500			$	500
Accounts payable					1,609				837
Accrued and other liabilities		10			1,542				1,331
Income taxes payable					1				1
Operating lease liability, current		15			1,285				1,481
Total current liabilities					4,937				4,150
Non-current liabilities:
Long-term borrowings		9			2,700				2,700
Other non-current liabilities					167				44
Operating lease liability, non-current		15			4,742				4,464
Total non-current liabilities					7,609				7,208
Total liabilities				$	12,546			$	11,358
Commitments and contingencies		17		—				—
EQUITY
Class A Ordinary shares
($0.003 par value; 66,666,667 and 66,666,667 shares authorized; 52,419,109 and 52,419,109 shares issued and outstanding as of December 31, 2025 and March 31, 2026, respectively)					146				146
Class C Ordinary shares
($0.003 par value; 8,333,333 and 8,333,333 shares authorized; 4,708,415 and 4,708,415 shares issued and outstanding as of December 31, 2025 and March 31, 2026, respectively)					13				13
Additional paid-in capital					517,185				517,217
Accumulated deficit					(508,966	)			(508,542	)
Accumulated other comprehensive loss					(128	)			(128	)
Total equity					8,250				8,706
Total liabilities and equity				$	20,796			$	20,064

AMBOW EDUCATION HOLDING LTD. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (All amounts in thousands, except for share and per share data) (Unaudited)
				For the three months ended  March 31,
		Note		2025				2026
NET REVENUES
- Educational program and services				$	1,990			$	2,080
- HybriU licensing and sales					324				719
Total net revenues					2,314				2,799
COST OF REVENUES
- Educational program and services					(978	)			(1,113	)
- HybriU licensing and sales					—				—
Total cost of revenues					(978	)			(1,113	)
GROSS PROFIT					1,336				1,686
OPERATING EXPENSES
Selling and marketing					(226	)			(288	)
General and administrative					(871	)			(800	)
Research and development					(101	)			(156	)
Total operating expenses					(1,198	)			(1,244	)
OPERATING INCOME					138				442
OTHER (EXPENSE) INCOME
Interest (expenses) income, net		9			(12	)			16
Other expenses, net					(17	)			(24	)
Total other expenses, net					(29	)			(8	)
INCOME BEFORE INCOME TAX AND NON-CONTROLLING INTERESTS					109				434
Income tax expenses		13			—				(10	)
NET INCOME				$	109			$	424
NET INCOME ATTRIBUTABLE TO ORDINARY SHAREHOLDERS				$	109			$	424
OTHER COMPREHENSIVE INCOME, NET OF TAX
Foreign translation adjustments					—				—
Other comprehensive loss					—				—
TOTAL COMPREHENSIVE INCOME					109				424
Basic income from operations per share		14		$	0.0019			$	0.0074
Diluted income from operations per share		14		$	0.0019			$	0.0074
Basic income from operations per ADS		14		$	0.0380			$	0.1480
Diluted income from operations per ADS		14		$	0.0380			$	0.1480
Weighted average shares used in calculating basic net income per share					57,127,524				57,127,524
Weighted average shares used in calculating diluted net income per share					57,127,524				57,127,524
Share-based compensation expense from operations included in:
- Selling and marketing		12			—				3
- General and administrative		12			—				12
- Research and development		12			—				17

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How did Ambow Education (NYSE American: AMBO) perform in Q1 2026?

Ambow Education reported higher revenue, profits, and margins in Q1 2026. According to Ambow, net revenue grew 21.0% to $2.8 million, gross margin improved to 60.2%, and net income attributable to ordinary shareholders reached $0.4 million for the quarter.

What were Ambow Education's Q1 2026 revenues and year-over-year growth?

Ambow Education generated Q1 2026 net revenues of $2.8 million, up 21.0% year over year. According to Ambow, revenue increased from $2.3 million in Q1 2025, primarily driven by growth in its HybriU AI-powered phygital platform across education and collaboration solutions.

What was Ambow Education's Q1 2026 earnings per ADS (AMBO)?

Ambow Education reported Q1 2026 earnings of $0.15 per basic and diluted ADS. According to Ambow, net income attributable to ordinary shareholders rose to $0.4 million, compared with $0.1 million, or $0.04 per basic and diluted ADS, in Q1 2025.

How profitable was Ambow Education in Q1 2026 compared to Q1 2025?

Ambow Education increased profitability in Q1 2026 versus Q1 2025. According to Ambow, operating income rose to $0.4 million from $0.1 million, while net income attributable to ordinary shareholders also reached $0.4 million, reflecting stronger margins and stable operating expenses.

What was Ambow Education's gross margin in Q1 2026?

Ambow Education achieved a Q1 2026 gross margin of 60.2%. According to Ambow, gross profit increased 26.2% to $1.7 million from $1.3 million in Q1 2025, while gross margin improved from 57.7%, indicating higher efficiency in delivering its education and HybriU services.

What is Ambow Education's cash position as of March 31, 2026?

Ambow Education reported cash resources of $6.9 million as of March 31, 2026. According to Ambow, this included $4.2 million in cash and cash equivalents and $2.7 million in restricted cash, supporting ongoing investment in its AI-driven phygital education and collaboration platforms.

What drove Ambow Education's revenue growth in Q1 2026?

Ambow Education's Q1 2026 revenue growth was mainly driven by HybriU. According to Ambow, net revenues rose 21.0% year over year to $2.8 million, with HybriU revenue more than doubling, reflecting demand for its AI-powered phygital platform across education, corporate collaboration, and live events.