BB's Stock Haven

[wickerman]

$EDTK earnings blowout bb just a waiting game for $GSX $REDU buyers to find it and launch it into orbit..China education sector is sizzling hold tight!

Fiscal Year 2020 Financial and Operational Highlights

All financial figures are in US Dollars unless otherwise noted.

Revenue was $28.6 million, compared with $24.7 million in the same period of last year, representing a 16% increase.

Net Income was $9.98 million, compared with $8.68 million in the same period of last year.

Total fee-paying members1 reached 3.09 million, compared with 2.28 million during the same period of last year, representing a 35% increase.
Xiaofeng Gao, Chairman and CEO of Skillful Craftsman, commented, “We are excited to announce our results for the first time as a public company. Skillful Craftsman went public on the Nasdaq in July 2020 and we view this as a significant milestone in implementing our growth plan. Our strategy centers around expanding course offerings in tune with industry trends and government policies; integrating online and offline resources for virtual simulation experimental training; offering professional development-related services by leveraging Big Data and Artificial Intelligence technologies; and developing mobile app and WeChat interfaces to our online learning platform. We remain dedicated to improving careers by delivering high quality vocational education services, which will enable us to become a leading provider of online vocational education in China.”

Fiscal Year 2020 Financial Results

All figures refer to fiscal year 2020 (ending March 31, 2020) unless otherwise stated.

Revenue increased by 16% to $28.6 million, up from $24.7 million for the prior fiscal year. Growth is primarily attributable to the increase in paid course enrollment, driven by our continual promotional activities and development effort on our virtual simulation experiment platform development.

Cost of revenue increased by 25% to $11.8 million from $9.5 million for the prior fiscal year, primarily driven by higher amortization expense for server hardware by $1.8 million, and higher virtual simulation fees paid by the Company of $0.8 million.

Gross profit increased by 10% to $16.8 million from $15.2 million for the prior fiscal year.

General and administrative expenses increased by 7% to $2.0 million from $1.9 million for the prior fiscal year, primarily driven by increased rental and service fees for human resources.

Sales and marketing expenses decreased by 17% to $1.5 million from $1.8 million for the prior fiscal year, primarily driven by decreased pay service charges and promotion expenses.

Pre-Tax Income increased by 15% to $13.3 million, compared with $11.6 million for the prior fiscal year.

Net Income increased by 15% to $9.98 million, compared with $8.68 million for the prior fiscal year.

Cash and equivalents. At March 31, 2020, the Company had cash and cash equivalents of $11.9 million, compared with $10.4 million as of March 31, 2019.

https://www.globenewswire.com/news-release/2020/08/18/2079925/0/en/Skillful-Craftsman-Education-Technology-Files-Annual-Report-on-Form-20-F-and-Reports-Audited-Fiscal-Year-2020-Results.html

https://www.sec.gov/Archives/edgar/data/1782309/000110465920096199/tm2027713d1_20f.htm#sp06_003