• Revenue down 21% YoY due to international student enrolment restrictions
• EBITDA down 30% YoY, impacted by revenue decline but partially offset by cost efficiencies
• Adjusted NPAT(A) loss of $2.2M vs. $1.4M profit in H1 FY24

NextEd Group Limited (ASX: NXD) announced its results for the half-year ended 31 December 2024 (H1 FY25). The company continues to adapt to a shifting regulatory environment with a sharp focus on financial discipline and operational efficiency. While industry challenges persist, NextEd is taking decisive actions to stabilise performance, optimise costs, and position the company for long-term growth. Key financial results include revenue of $47.0M (-21% YoY) largely due to government restrictions on international student enrolments, EBITDA of $5.8M (-30% YoY) impacted by the revenue decline but partially offset by cost efficiencies, and a Net Loss After Tax of $8.3M (including a $5.3M impairment charge mostly related to Technology & Design). Adjusted NPAT(A) was a loss of $2.2M (vs. $1.4M profit in H1 FY24). The company's cash position stood at $13.7M as of 31 December 2024. Operationally, the company highlighted the successful integration of International House, generating future revenue of $13M+, cost savings of $7M annualised with $5M realised in FY25 and $2M confirmed for FY26, and improving campus utilisation by ~20ppts across key locations. NextEd also reported 74% growth in vocational course revenue for international students, particularly in Healthcare and Hospitality.

A strategic review is progressing with findings to be presented in Q4 FY25. A disciplined approach to cost management and operational refinements remains critical in the current environment.