Tuition and related income

Not applicable

Tuition revenue reached $13,635K in Q2 2025 reflecting robust demand and a continued focus on enrollment growth, following a favorable program mix and momentum built in previous quarters. "

Educational Services Revenue

Not applicable

Educational services revenue of $7,479K in Q2 2025 indicates steady performance in that segment, building on prior enrollment increases and operational initiatives, though no sequential percentage change was provided. "

Operating Income

38% Sequential Decline

Operating income fell to $1,658K in Q2 2025 from $2,672K in Q1 2025; this decline is likely driven by increased operational expenses and margin pressures that offset revenue levels seen in Q1, despite earlier achievements in cost efficiency. "

Net Income

33% Sequential Decline

Net income dropped to $1,399K in Q2 2025 down about 33% from Q1 2025, mirroring the fall in operating income; this suggests that higher costs and possibly increased tax liabilities or other non-operational expenses were not fully absorbed by top-line revenues. "

Cash and Cash Equivalents

Down 21% Sequential

Cash balances decreased from $21.49M in Q1 2025 to $16.87M in Q2 2025, primarily due to lower net cash inflows from operations and possibly planned utilizations following the strong liquidity boost from the IPO in Q1. "

Total Assets

Up 23% Sequential

Total assets rose to $62.07M in Q2 2025 from $50.58M in Q1 2025, driven by additions such as an increased operating lease right‐of-use asset, capital investments, and higher long-term receivables, which build on prior period financial strength despite lower cash levels. "