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Keypath Education International Inc (ASX:KED)

ALERT: Price-sensitive ASX Announcement for KED
Current share price for KED : $0.865 0.005 (0.58%)+
Announcement
Release
22 Aug 2024 9:20AM
Price at Release
$0.860
Full Release
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Summary
Keypath Education International Inc. (Keypath) released a FY24 trading update on August 22, 2024, reporting a revenue of US$138.1 million, a gross profit of US$32.2 million, and a net loss of US$10.1 million. The company also reported an Adjusted EBITDA of US$5.0 million and a cash position of US$37.9 million as of June 30, 2024. Keypath saw a decrease in the number of partners but an increase in course enrollments. The report includes preliminary fiscal data and forward-looking statements regarding future performance and growth.
Key Points
  • Keypath Education International Inc. (Keypath) released a FY24 trading update on August 22, 2024.
  • FY24 revenue was US$138.1 million, an increase of 11.6% compared to FY23.
  • Gross profit for FY24 was US$32.2 million, marking a 77.4% increase from FY23.
  • The company reported a net loss of US$10.1 million for FY24, which is US$14.3 million lower than FY23.
  • Adjusted EBITDA for FY24 was US$5.0 million, an increase of US$15.1 million from FY23.
  • FY24 revenue included US$8.4 million from transitioned programs, which are not expected to continue into FY25.
  • Keypath's cash position as of June 30, 2024, was US$37.9 million, with no debt.
  • Key operational metrics show a decrease in the number of partners from 46 in FY23 to 39 in FY24.
  • Course enrollments increased by 7.3% in FY24, totaling 111,964 enrollments.
  • The company highlighted its global presence, with operations in Australia, the United States, Canada, the UK, Malaysia, and Singapore.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.