EpicQuest Edu Stock Price, News & Analysis

EpicQuest Education Group International Limited (NASDAQ: EEIQ) announced a significant 26% increase in international student enrollment at its 70%-owned Davis College for the first three quarters of the 2022-2023 academic year compared to the previous year. The new enrollment reached 107 students, up from 85 in the previous year, resulting in international students making up 31% of the student body, an increase from 28%. This growth is attributed to the company's strategic focus on internationalization and enhanced recruiting efforts catering to a global job market. Diane Brunner, President of Davis College, emphasized the institution's commitment to providing a diverse educational experience. The company aims to continue expanding its international presence, supporting students' career opportunities.

EpicQuest Education Group International Limited (EEIQ) announced a Supplementary Agreement with Chongqing Technology and Business Institute (CTBI) to enroll students at Davis College, which is 70% owned by EEIQ. This agreement will facilitate the enrollment of at least 46 CTBI students each year starting September 2023, leading to Diplomas and Associate Bachelor’s degrees in Interior Design. By 2025, this will amount to at least 138 students enrolled. The agreement extends through June 2025, with possibilities for renewal. This strategic partnership forms part of EEIQ's aim to enhance its international presence in education, having already signed six Memoranda of Understanding to broaden its global academic offerings.

EpicQuest Education Group International Limited (NASDAQ: EEIQ) announced the acquisition of the remaining 20% equity in EduGlobal College, finalizing full ownership. The transaction, valued at C$250,000 (US$186,131), enhances EpicQuest's strategic expansion in the Canadian education market. Previously, Highrim Holding International Limited, a subsidiary of EpicQuest, acquired 80% of EduGlobal for C$1 million (US$800,000) in January 2022. The complete ownership aims to leverage synergies and increase long-term growth potential in the provision of English language proficiency programs, significantly targeting international students from various regions. The college's recent Education Quality Assurance (EQA) designation in British Columbia further supports its capability to host international students and enhances its recruitment efforts.

EpicQuest Education Group International (NASDAQ: EEIQ) reported a significant 72% increase in applications from international high schools in China for the 2023 academic year, totaling 93 applicants from 32 schools compared to 54 from 12 schools in 2022. This surge accounts for 61% of total applications for Miami University Regionals and Davis College, up from 30% in 2022. The company aims to strengthen its international recruiting strategy, focusing on direct engagement with potential students and minimizing third-party intermediaries. EpicQuest believes this approach will enhance enrollment metrics and foster long-term growth in the international education sector.

EpicQuest Education Group International Limited (NASDAQ: EEIQ) announced its entry into the Latin American (LATAM) market by hiring a recruiting agent in Mexico during Q1 2023. This initiative is a significant part of its international expansion strategy, expected to enhance student enrollment and broaden academic programs. The plan includes collaboration with local educational institutions and the launch of an English as a Second Language (ESL) summer program in July 2023 for Mexican high school students. The company's commitment to globalized education aims to foster diversity and international partnerships.

EpicQuest Education Group International Limited (NASDAQ: EEIQ) reported a 19% increase in revenue for fiscal year 2022, reaching $6.3 million compared to $5.3 million in 2021, with a gross profit of $4.3 million. Operating expenses rose sharply to $11.5 million, leading to an operating loss of $7.2 million. The net loss for the year was $6.2 million, up from $1.1 million in 2021, attributed to increased expenses and a net loss per share of $0.55. The company had $11.4 million in cash as of September 30, 2022, a decrease from the previous year. Despite challenges, CEO Jianbo Zhang highlighted optimism for future growth through international expansion and operational efficiencies.

EpicQuest Education Group International Limited (NASDAQ: EEIQ) has provided an operations update announcing significant progress in its international expansion strategy. In 2022, the company established several educational partnerships and welcomed 89 students from China for in-person classes at the Miami University Regional Campuses, marking a return to normalcy post-pandemic. The firm successfully executed a change of control for Davis College, enhancing its accreditation and strategic growth initiatives, while EduGlobal College received EQA designation, facilitating its international student recruitment efforts.