EpicQuest Education Announces Current Enrollment Metrics

Rhea-AI Summary

EpicQuest Education Group International Limited (NASDAQ: EEIQ) announced an increase in student enrollment through expanded recruitment efforts and the opening of a recruiting office in Sri Lanka. The company has seen significant uptick in enrollment for its owned and operated schools, with a focus on expanding recruiting for international students. New educational programs in kinesiology and recreational education are expected to create synergistic opportunities with the sports entertainment segment, leading to sustainable growth. The company has also established new subsidiaries to offer international educational programs and organize sports-related entertainment projects.

Positive

• Significant uptick in student enrollment
• Expanded recruitment efforts to attract international students
• New educational programs in kinesiology and recreational education to create synergistic opportunities with sports entertainment segment
• Establishment of new subsidiaries to offer international educational programs and organize sports-related entertainment projects

Negative

• None.

Market Research Analyst

The strategic expansion of EpicQuest Education Group International Limited (EEIQ) into new educational programs and sports entertainment segments is a move designed to capitalize on growing market trends in health, fitness and sports. The introduction of kinesiology and recreational education programs is a response to the increasing emphasis on physical health and exercise in society. This is likely to attract a broader student demographic, potentially increasing enrollment and, by extension, revenue.

From a market perspective, the decision to open a recruiting office in Sri Lanka to target students from Southeast Asia and the Middle East could diversify the student body and reduce the company's dependence on any single market. The reported year-over-year enrollment increases are positive indicators of the initial success of these strategies. However, these figures need to be compared against industry benchmarks for a more comprehensive analysis.

Furthermore, the synergy between educational programs and the sports entertainment segment could open additional revenue streams. This integration suggests a business model that not only educates but also engages students in practical experiences, potentially increasing the value proposition of the company's offerings.

Financial Analyst

EEIQ's reported increases in student enrollment are a significant metric for investors, as higher enrollment typically translates into increased tuition revenue. The 192% year-over-year increase in students for the iUPP program and the 83% increase for Davis University's foundational program are particularly noteworthy. These figures suggest that the company's strategic initiatives are translating into tangible financial results.

Investors should, however, remain cautious and seek further data on retention rates, average revenue per student and cost structures associated with the new programs. Expansion into new markets and programs often involves upfront costs that could affect short-term profitability. Long-term sustainability will depend on the company's ability to maintain these growth rates and manage expenses.

Additionally, the establishment of new subsidiaries for educational programs and sports entertainment projects indicates a potential for cross-sector collaboration that could lead to new business opportunities, although the success of such ventures is not guaranteed and should be monitored closely.

Education Industry Expert

EEIQ's strategic direction towards internationalization and the development of new programs in kinesiology and recreational education reflects a broader trend in the education sector towards interdisciplinary and career-oriented studies. By aligning their offerings with market demands for health and fitness professionals, EEIQ is positioning itself to become a more competitive player in the higher education landscape.

The creation of synergies between academic programs and the sports entertainment segment could enhance the student experience, leading to improved outcomes and potentially higher placement rates post-graduation. This could also serve as a unique selling point when recruiting international students who are looking for comprehensive educational experiences abroad.

It is essential to consider the accreditation status of new programs and the quality of the partnerships established with other institutions, as these factors can significantly impact the perceived value of the education provided and, consequently, the institution's reputation.

EEIQ's New Kinesiology and Recreational Education Programs and Sports Entertainment Segment Represent a New Strategic Direction that is Expected to Bolster Student Enrollment

MIDDLETOWN, Ohio, Jan. 30, 2024 /PRNewswire/ -- EpicQuest Education Group International Limited (NASDAQ: EEIQ), ("EpicQuest Education", "EEIQ" or the "Company"), a provider of higher education for domestic and international students in the US, Canada and the UK, today announced current enrollment metrics for its owned and operated schools, Davis University and EduGlobal College.

"We are beginning to see a significant uptick in enrollment as a result of our expanded recruitment efforts which we believe will lead to an increase in revenue in future periods," said Zhenyu Wu, Chief Financial Officer of EpicQuest Education. "We recently opened a recruiting office in Sri Lanka to serve as our main hub to attract students from Southeast Asia and the Middle East in order to expand our geographical recruiting for international students."

"The fields of physiology, physical health and exercise are becoming increasingly important with its focus on fitness, nutrition and public health, and our new educational programs in kinesiology and recreational education program equip our students with new career options. We believe that these new educational programs will create synergistic opportunities with our sports entertainment segment and a sustainable tailwind for corporate growth," concluded CFO Zhenyu Wu.

EduGlobal College: As most students begin with the Fall semester, the Company believes that it performing very well in recruiting students during the academic year, with this effort expected to lead to a substantial increase in revenue. In the Fall 2023 semester, 13 students arrived at EduGlobal College and began their iUPP academic program. For the Spring term beginning in January 2024, the number increased by 192% year-over-year to a total of 38 students in the iUPP program, not including the 15 students whose visa applications are pending.

Davis University: There were 12 students enrolled in the foundational program of Davis University at Peking University for the Fall 2023 term beginning in September of 2023; the foundational program is a structured course of study for the acquisition of academic skills and knowledge needed to enter degree programs at Davis University. For the Spring semester beginning in January of 2024, an additional 10 students were enrolled in the program, representing an 83% increase. There are now a total number of 60 students who are enrolled in the two foundational programs of Davis University.

Miami University Regionals: A total of 16 students entered the English Language Center at Miami University Regionals for the Spring 2024 term, representing a 46% year-over year increase as compared to the number of students registered in the Spring 2023 term.

EpicQuest Education's strategic plan is to achieve sustainable growth through a strategy of internationalization. To achieve our strategic goals, we are focused on broadening our academic programming and diversifying and growing our student base. We believe that our strategy of internationalization, which also includes working collaborations around the world, brings out the very best in academia and student achievement.

EpicQuest Education Group International Limited

EpicQuest Education Group International Limited ("EpicQuest Education" or the "Company") provides comprehensive education solutions for domestic and international students seeking university and college degrees in the US, Canada and the UK. The Company owns and operates EduGlobal College, based in British Columbia, Canada, which focuses on English proficiency educational programming for students pursuing academic degrees. The Company operates and is a 70% owner of Davis University, a career training college located in Toledo, Ohio. In addition, the Company has a recruiting relationship with the Miami University Regional campuses, where it maintains residential facilities, a full-service cafeteria, recreational facilities, shuttle buses and an office for the regional campuses that provides study abroad and post-study services for its students; these facilities are not owned, maintained, operated or are a part of Miami University. The Company is also a recruiting agent for the University of the West of Scotland (through The Education Group (London) Ltd) and Coventry University, both of which are located in the UK.

EpicQuest Education recently established a wholly owned subsidiary, Gilmore Inv LLC, in Ohio, that will offer international educational programs related to kinesiology and recreation education. The Company also established a company in Ohio, SouthGilmore LLC that has been formed to organize sports-related entertainment projects, which is 40% owned by Gilmore. For more information, please visit www.epicquesteducation.com/.

Safe Harbor Statement

Certain of the statements made in this press release are "forward-looking statements" within the meaning and protections of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performance, capital, ownership or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this press release include, without limitation, the amount of the revenue that may be received from the increased enrollment.  All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as "may," "will," "anticipate," "assume," "should," "indicate," "would," "believe," "contemplate," "expect," "estimate," "continue," "plan," "point to," "project," "could," "intend," "target" and other similar words and expressions of the future.

All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in our most recent Form 20-F and otherwise in our SEC reports and filings. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC's Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made.

Contacts:

EpicQuest Education Group International Limited
+1 513-649-8350
info@epicquesteducation.com 

Investor Relations:
Precept Investor Relations LLC
David Rudnick
+1 646-694-8538
david.rudnick@preceptir.com

Source: EpicQuest Education Group International Limited
SHDOCS:220625615.2

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SOURCE EpicQuest Education Group International Limited

FAQ

What is the ticker symbol for EpicQuest Education Group International Limited?

The ticker symbol for EpicQuest Education Group International Limited is EEIQ.

What new educational programs are being offered by EpicQuest Education Group International Limited?

EpicQuest Education Group International Limited is offering new educational programs in kinesiology and recreational education.

Where has EpicQuest Education Group International Limited opened a recruiting office to attract students from Southeast Asia and the Middle East?

EpicQuest Education Group International Limited has opened a recruiting office in Sri Lanka.

What is the increase in student enrollment for the Spring term at EduGlobal College?

The number of students in the iUPP program at EduGlobal College increased by 192% year-over-year to a total of 38 students.

What is the increase in student enrollment for the Spring semester at Davis University?

An additional 10 students were enrolled in the foundational program of Davis University, representing an 83% increase.

What new subsidiaries have been established by EpicQuest Education Group International Limited?

EpicQuest Education Group International Limited established a wholly owned subsidiary, Gilmore Inv LLC, and a company in Ohio, SouthGilmore LLC, to offer international educational programs and organize sports-related entertainment projects.

What is the strategic plan of EpicQuest Education Group International Limited?

EpicQuest Education Group International Limited's strategic plan is to achieve sustainable growth through a strategy of internationalization, broadening academic programming, and diversifying and growing the student base.