RISE Education Cayman Ltd (NASDAQ: REDU) reported its unaudited financial results for Q3 2020, indicating a revenue of RMB320 million (US$47.1 million), a 94% increase from Q2 2020 but a 22.2% decline year-over-year. The company achieved a net profit of RMB28 million (US$4.1 million) compared to a loss in the previous quarter. Despite challenges from COVID-19, RISE's learning centers reopened, leading to a recovery in operations. The company expects Q4 revenues between RMB355 million to RMB365 million.
RISE Education Cayman Ltd (NASDAQ: REDU) will release its unaudited third quarter 2020 financial results on November 12, 2020, after U.S. markets close. A conference call is scheduled for the same day at 8:00 p.m. ET to discuss these results. In light of the COVID-19 pandemic, participants must preregister online to join the call. The event will also be available via a live and archived webcast on the Company’s investor relations website.
RISE Education Cayman Ltd (NASDAQ: REDU) reported its Q2 2020 financial results, revealing total revenues of RMB 165 million (US$ 23.4 million), up 51.4% from Q1 2020 but down 55.1% year-over-year. The net loss narrowed to RMB 58 million compared to RMB 104 million in Q1 2020 and net income of RMB 21 million in Q2 2019. Strong recovery was noted, with 3,749 new students enrolled in regular courses, up from 1,507 in Q1 2020. The company plans to open three new learning centers in H2 2020, expecting Q3 revenues to reach RMB 325-335 million.
RISE Education Cayman Ltd (NASDAQ: REDU) will announce its unaudited second quarter 2020 financial results on August 13, 2020, post U.S. market close. A conference call is scheduled for the same day at 9:00 p.m. U.S. Eastern Time, with preregistration required due to COVID-19 protocols. RISE Education specializes in junior English Language Training in China and utilizes a unique "subject-based learning" approach. Founded in 2007, it offers courses tailored to different age groups through both self-owned and franchised learning centers.