• Revenue up 2.8% to $23.9m
• Loss after tax down 87.2% to $1.0m
• Adjusted EBITDA of $3.4m

Academies Australasia Group Ltd has reported its financial results for the half-year ended 31 December 2024. Revenue from ordinary activities was up 2.8% to $23.9m, while the loss from ordinary activities after tax attributable to members was $1.0m, down 87.2% from the previous period. The net loss before tax attributable to members was $1.3m, down 84.5%. The company made a provision for impairment of $150,000 against non-recourse loans secured for the issue of shares under an employee incentive plan, and the Goulburn Street premises had an impact of $1.1m on depreciation, amortisation and finance costs. Refunds paid to students, mainly due to visa rejections, were $1.3m. Earnings before interest, tax, depreciation and amortisation (EBITDA) was $3.2m, and after adjusting for impairments, the adjusted EBITDA was $3.4m. The company ended the period with $6.8m in cash, and directors extended $1.0m and $0.8m in unsecured loans to the company in December 2024 and February 2025, respectively.