8,333,333 shares authorized,
4,708,415 and 4,708,415 shares issued
and outstanding as of December 31, 2023
and June 30, 2024, respectively) 13 13
Additional paid-in capital 517,031 517,031
Accumulated deficit (510,634) (510,418)
Accumulated other comprehensive loss (128) (128)
------------- ---------
Total equity 6,428 6,644
------------- ---------
Total liabilities and equity 20,566 17,575
============= =========
AMBOW EDUCATION HOLDING LTD.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND
COMPREHENSIVE (LOSS) INCOME
(All amounts in thousands, except for share and per share data)
For the six months ended For the three months ended
June 30, June 30,
--------------------------- -----------------------------
2023 2024 2023 2024
------------ ------------- ------------ ---------------
$ $ $ $
NET REVENUES
Educational programs
and services 6,097 4,773 2,728 2,399
COST OF REVENUES
Educational programs
and services (4,082) (2,208) (1,508) (1,064)
GROSS PROFIT 2,015 2,565 1,220 1,335
Operating
expenses:
Selling and
marketing (425) (550) (148) (251)
General and
administrative (3,449) (2,280) (1,829) (944)
Research and
development -- (150) -- (75)
----------- ------------- ------------ ---------------
Total operating
expenses (3,874) (2,980) (1,977) (1,270)
----------- ------------- ------------ ---------------
OPERATING (LOSS)
INCOME (1,859) (415) (757) 65
----------- ------------- ------------ ---------------
OTHER (EXPENSES)
INCOME
Interest (expense)
income, net (33) 66 (26) 31
Foreign exchange
loss, net (9) -- (9) --
Other (expense)
income, net (281) 60 (196) 33
----------- ------------- ------------ ---------------
Total other
(expense) income (323) 126 (231) 64
----------- ------------- ------------ ---------------
(LOSS) INCOME BEFORE
INCOME TAX AND
NON-CONTROLLING
INTEREST (2,182) (289) (988) 129
----------- ------------- ------------ ---------------
Income tax (expense)
benefit (13) 505 (13) (6)
NET (LOSS) INCOME (2,195) 216 (1,001) 123
----------- ------------- ------------ ---------------
-Less: Net (loss)
income
attributable to
non-controlling
interests -- -- -- --
NET (LOSS) INCOME
ATTRIBUTABLE TO
ORDINARY
SHAREHOLDERS (2,195) 216 (1,001) 123
OTHER
COMPREHENSIVE
(LOSS) INCOME,
NET OF TAX
----------- ------------- ------------ ---------------
Other
comprehensive
(loss) income -- -- -- --
----------- ------------- ------------ ---------------
TOTAL COMPREHENSIVE
(LOSS) INCOME (2,195) 216 (1,001) 123
=========== ============= ============ ===============
Net (loss) income
per share -- basic
and diluted (0.0395) 0.0038 (0.0175) 0.0022
=========== ============= ============ ===============
Net (loss) income
per ADS -- basic
and diluted (0.7900) 0.0760 (0.3500) 0.0440
=========== ============= ============ ===============
Weighted average
shares used in
calculating basic
and diluted net
(loss) income per
share 55,525,314 57,127,524 57,127,524 57,127,524
=========== ============= ============ ===============
View original content:https://www.prnewswire.com/news-releases/ambow-education-announces-second-quarter-and-first-half-of-2024-financial-results-302340356.html
SOURCE Ambow Education Holding Ltd.
(END) Dow Jones Newswires
December 30, 2024 16:01 ET (21:01 GMT)
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