RYB Education Inc – ADR (NYSE: RYB) stock traded volume of 9343 shares during its last trading session as compared to its average volume of 29517 shares over the recent month. RYB ended its day with the below stream along the move of -3.44% and closed at the price of $3.09 before opening at $3.16. It has total market capitalization is $85201340.
RYB Education, Inc. (RYB) recently reported its unaudited financial results for the second quarter of 2020.
Second Quarter 2020 Operational and Financial Summary
Number of students enrolled at directly operated facilities was 31,023 as of June 30, 2020, contrast with 30,478 as of June 30, 2019.
Net revenues were $12.8M, contrast with $53.6M for the second quarter of 2019.
Gross loss was $9.5M, contrast with gross profit of $11.9M for the second quarter of 2019.
Net loss attributable to ordinary shareholders of RYB for the second quarter of 2020 was $12.8M, contrast with $2.9M of net income attributable to ordinary shareholders of RYB for the second quarter of 2019. Adjusted net loss attributable to ordinary shareholders of RYB for the second quarter of 2020 was $12.0M, contrast with $3.9M of adjusted net income attributable to ordinary shareholders of RYB for the second quarter of 2019.
Cash used in operating activities was $5.0M in the second quarter of 2020, contrast with $2.9M of cash used in operating activities for the second quarter of 2019.
First Six Months of 2020 Financial Results
Net revenues were $30.1M, contrast with $87.8M for the first six months of 2019.
Gross loss was $21.1M, contrast with gross profit of $13.8M for the first six months of 2019.
Net loss attributable to ordinary shareholders of RYB was $39.5M, contrast with $0.6M of net income attributable to ordinary shareholders of RYB for the same period of 2019. Adjusted net loss attributable to ordinary shareholders of RYB was $37.9M, contrast with $2.7M of adjusted net income attributable to ordinary shareholders of RYB for the same period of 2019.
Cash used in operating activities was $19.0M, contrast with $10.3M of cash generated from operating activities for the same period of 2019.
“During the second quarter, in the face of prolonged facility closuresBecause of impacts of the Covid-19 pandemic, we continued to enhance our online service capabilities to ensure that students would have undisrupted remote access to high-quality at-home learning resources and to a good collection of early childhood education content,” stated Ms. Yanlai Shi, Co-founder, Director and Chief Executive Officer of RYB, “Following the initial launch in the first quarter of our paid course platform for kindergarteners, during the second quarter the team further added content offerings accessible on the platform. We simultaneously carried out a pilot promotion of this platform for enrolled students at some directly operated kindergartens, and their parents provided positive feedback. With the help of this platform and most of our facilities across regions back to normal operation over time, we will push forward the online-merge-offline practice for learning at the kindergarten level. While still in its very early stage, I believe this platform will help us better upgrade our service quality as part of our digitalization efforts in kindergarten services. With a complete and polished content platform fully established in the future, we look forward to exploring its potential to be adopted across market.
“At the same time, we also completed planning for service management model for third-party kindergarten and play-and-learn center operations. We plan to leverage our integrated online-merge-offline model and expand existing services by this service management model. Through this service management model, we can deliver high-quality content, standardized management systems, and targeted service training to a broad range of facility operators in a systematic manner with modularized offerings. We believe this can also help reinvigorate the industry. In addition, we kicked off our early-years childcare business, an initiative for which we have been doing market research, developing educational content, assembling a team with expertise, and setting up an operating pilot facility for nearly three years. With a supportive policy environment for early-years childcare services, together with our core strengths and network presence, we are confident to see further growth in this service unit, and it becoming an integral part of a refined and expanded service offerings for 0-6-year-olds,” concluded Ms. Shi.
The price moved ahead of 1.41% from the mean of 20 days, 1.48% from mean of 50 days SMA and performed -20.96% from mean of 200 days price. Company’s performance for the week was 1.31%, 9.57% for month and YTD performance remained -43.30%.
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