Ambow Education Announces First Quarter of 2026 Financial Results
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.
News Market Reaction – AMBO
In the May 12 session, AMBO gained 8.53%, reflecting a notable positive market reaction. Argus tracked a peak move of +78.8% during that session. Argus tracked a trough of -12.6% from its starting point during tracking. Our momentum scanner triggered 15 alerts that day, indicating notable trading interest and price volatility. Trading volume was exceptionally heavy at 6.1x the daily average, suggesting very strong buying interest.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Aug 05 | Quarterly earnings | Positive | -0.1% | Reported strong Q2 and H1 2025 growth and higher profitability. |
| Mar 28 | Annual results | Positive | -6.0% | Announced 2024 profitability and major HybriU licensing deal. |
| Mar 28 | Annual report filing | Neutral | -6.0% | Filed Form 20-F with audited 2024 financial statements. |
| Dec 30 | Quarterly earnings | Neutral | -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.
Earnings and annual filings have historically seen weak or negative price reactions, with an average same-tag move of -12.64%, so today’s positive move stands out versus past selling pressure on results.
Over recent periods, Ambow’s earnings and reporting events have highlighted a shift to AI-driven “phygital” learning and improving profitability. Prior updates showed growing HybriU adoption, full-year 2024 profitability, and stronger cash positions, yet shares often traded lower afterward, including moves of -6.01% and -38.42% around 2024–2025 results. Today’s Q1 2026 report, with higher revenues, margins, and income, fits the operational improvement trend but contrasts with the generally negative historical price response to similar earnings news.
Key Terms
phygital technical
ads financial
restricted cash financial
form 10-q regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
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
First Quarter 2026 Financial Results
Net revenues for the first quarter of 2026 increased by
Gross profit for the first quarter of 2026 increased by
Operating expenses for the first quarter of 2026 remained essentially stable at
Operating income for the first quarter of 2026 was
Net income attributable to ordinary shareholders for the first quarter of 2026 was
As of March 31, 2026, Ambow maintained cash resources of
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 | ||||||||||
| ( | 146 | 146 | ||||||||
| Class C Ordinary shares | ||||||||||
| ( | 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 | |||||||
