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EpicQuest Education Announces a 2x Increase in its Overseas Foundational Programs

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EpicQuest Education Group International (Nasdaq: EEIQ) has announced a doubling of student enrollment in its overseas foundational programs for the Fall 2024 semester compared to the 2023-24 academic year. The company estimates that these programs will provide an annual revenue stream of at least $4 million in the 2024-25 academic year.

Davis University's foundational programs enrolled 115 students for the Fall semester as of September 30, 2024, up from 55 students in the previous year. These programs are currently placed on the main campuses of Peking University, Shanghai Jiao Tong University, and the Beijing Institute of Technology. The company typically places its own instructors in these programs and collaborates on academic programming.

EpicQuest Education views internationalization as a key element of its strategic growth plan, aiming to establish itself as an international service provider of higher learning.

EpicQuest Education Group International (Nasdaq: EEIQ) ha annunciato un aumento del numero di iscrizioni degli studenti nei suoi programmi fondamentali all'estero per il semestre autunnale 2024 rispetto all'anno accademico 2023-24. L'azienda stima che questi programmi genereranno un flusso di entrate annuali di almeno 4 milioni di dollari nell'anno accademico 2024-25.

I programmi fondamentali dell'Università Davis hanno registrato 115 studenti per il semestre autunnale al 30 settembre 2024, rispetto ai 55 studenti dell'anno precedente. Questi programmi sono attualmente ospitati nei campus principali della Università di Pechino, della Università Jiao Tong di Shanghai e dell'Istituto di Tecnologia di Pechino. L'azienda solitamente impiega i propri istruttori in questi programmi e collabora alla programmazione accademica.

EpicQuest Education considera l'internazionalizzazione un elemento chiave del suo piano strategico di crescita, puntando a stabilirsi come fornitore di servizi internazionali nell'istruzione superiore.

EpicQuest Education Group International (Nasdaq: EEIQ) ha anunciado un duplication del número de inscritos en sus programas fundamentales en el extranjero para el semestre de otoño de 2024 en comparación con el año académico 2023-24. La empresa estima que estos programas generarán un flujo de ingresos anuales de al menos 4 millones de dólares en el año académico 2024-25.

Los programas fundamentales de la Universidad Davis inscribieron 115 estudiantes para el semestre de otoño al 30 de septiembre de 2024, en comparación con los 55 estudiantes del año anterior. Estos programas están actualmente ubicados en los campus principales de la Universidad de Pekín, la Universidad Jiao Tong de Shanghái y el Instituto de Tecnología de Pekín. La empresa generalmente coloca a sus propios instructores en estos programas y colabora en la programación académica.

EpicQuest Education considera la internacionalización como un elemento clave de su plan de crecimiento estratégico, buscando establecerse como un proveedor de servicios de educación superior internacional.

EpicQuest Education Group International (Nasdaq: EEIQ)는 2023-24 학년도에 비해 2024년 가을 학기 해외 기초 프로그램의 학생 등록 수를 두 배로 늘렸다고 발표했습니다. 이 회사는 이러한 프로그램이 2024-25 학년도에 연간 수익원으로 최소 400만 달러를 제공할 것으로 예상하고 있습니다.

데이비스 대학교의 기초 프로그램은 2024년 9월 30일 현재 가을 학기 동안 115명의 학생을 등록했으며, 이는 지난해 55명의 학생에 비해 증가한 수치입니다. 이러한 프로그램은 현재 베이징 대학교, 상하이 자오퉁 대학교, 베이징 공과대학교의 주요 캠퍼스에 배치되어 있습니다. 이 회사는 일반적으로 이러한 프로그램에서 자신의 강사를 배치하고 학술 프로그램에 대해 협력합니다.

EpicQuest Education은 국제화를 전략적 성장 계획의 핵심 요소로 보고 있으며, 고등 교육의 국제 서비스 제공자로 자리매김하는 것을 목표로 하고 있습니다.

EpicQuest Education Group International (Nasdaq: EEIQ) a annoncé un doubler le nombre d'inscriptions d'étudiants dans ses programmes fondamentaux à l'étranger pour le semestre d'automne 2024 par rapport à l'année académique 2023-24. L'entreprise estime que ces programmes généreront un flux de revenus annuels d'au moins 4 millions de dollars pour l'année académique 2024-25.

Les programmes fondamentaux de l'Université Davis ont enregistré 115 étudiants pour le semestre d'automne au 30 septembre 2024, contre 55 étudiants l'année précédente. Ces programmes sont actuellement implantés sur les principaux campus de l'Université de Pékin, de l'Université Jiao Tong de Shanghai et de l'Institut de Technologie de Pékin. L'entreprise place généralement ses propres instructeurs dans ces programmes et collabore sur la programmation académique.

EpicQuest Education considère l'internationalisation comme un élément clé de son plan stratégique de croissance, visant à s'établir comme un fournisseur de services d'enseignement supérieur international.

EpicQuest Education Group International (Nasdaq: EEIQ) hat eine Verdopplung der Studierendenzahlen in seinen ausländischen Grundprogrammen für das Herbstsemester 2024 im Vergleich zum akademischen Jahr 2023-24 angekündigt. Das Unternehmen schätzt, dass diese Programme einen jährlichen Einnahmenstrom von mindestens 4 Millionen Dollar im akademischen Jahr 2024-25 generieren werden.

Die Grundprogramme der Davis University haben bis zum 30. September 2024 115 Studierende für das Herbstsemester eingeschrieben, was einem Anstieg von 55 Studierenden im Vorjahr entspricht. Diese Programme sind derzeit an den Hauptcampussen der Pekinger Universität, der Shanghai Jiao Tong Universität und des Beijing Institute of Technology angesiedelt. Das Unternehmen platziert in der Regel eigene Dozenten in diesen Programmen und arbeitet an der akademischen Planung.

EpicQuest Education betrachtet die Internationalisierung als einen entscheidenden Bestandteil seines strategischen Wachstumsplans und strebt danach, sich als internationaler Dienstleister für Hochschulbildung zu etablieren.

Positive
  • Doubling of student enrollment in overseas foundational programs
  • Estimated annual revenue stream of at least $4 million from existing foundational programs in 2024-25
  • High retention rate (close to 100%) for two-year foundational programs
  • Partnerships with elite Chinese universities for foundational programs
  • Potential pool of future students for EpicQuest Education's owned and operated schools
Negative
  • None.

Insights

The announcement of a doubling in student enrollment for EpicQuest Education's overseas foundational programs is a significant positive development. This growth translates to an estimated $4 million annual revenue stream for the 2024-25 academic year, representing a substantial increase from previous years. The 100% year-over-year retention rate for the two-year programs suggests a stable and predictable revenue source.

The expansion of these programs aligns with EEIQ's internationalization strategy, potentially creating a pipeline of students for their owned institutions, Davis University and EduGlobal College. This could lead to increased enrollment and revenue for these schools in the future. The partnerships with elite Chinese universities like Peking University and Shanghai Jiao Tong University add credibility and may attract high-quality students.

However, investors should consider the geopolitical risks associated with heavy reliance on Chinese students and partnerships, as well as the competitive landscape in international education. The company's focus on internationalization could be a double-edged sword, offering growth opportunities but also exposing it to global economic and political fluctuations.

EpicQuest Education's expansion of overseas foundational programs represents a strategic move in the international education market. These programs serve a dual purpose: they provide immediate revenue and create a potential student pipeline for the company's institutions in the US, Canada and the UK.

The placement of these programs at prestigious Chinese universities is particularly noteworthy. It not only enhances the company's reputation but also taps into the significant demand for international education among Chinese students. This approach aligns with global trends in higher education, where institutions are increasingly looking to internationalize their student bodies and curricula.

However, the heavy focus on China raises questions about market diversification. While China remains a major source of international students, recent geopolitical tensions and policy changes have highlighted the risks of over-reliance on a single market. EEIQ should consider expanding its foundational programs to other countries to mitigate these risks and truly establish itself as a global education provider.

Existing Programs Represent an Annual Revenue Stream of at Least $4 Million in the 2024-25 Academic Year

MIDDLETOWN, Ohio, Oct. 10, 2024 /PRNewswire/ -- EpicQuest Education Group International Limited (Nasdaq: EEIQ), ("EpicQuest Education", "EEIQ" or the "Company"), a provider of higher education for domestic and international students in the US, Canada and the UK, today announced a doubling of student enrollment in its overseas foundational programs for the Fall 2024 semester as compared to the 2023-24 academic year. The foundational programs are a key component of EpicQuest Education's core mission of internationalization.

"Our foundational programs provide excellent revenue to the Company and we plan to further expand these programs in the periods ahead," commented Zhenyu Wu, CFO of EpicQuest Education. "We estimate that our existing foundational programs will provide an annual revenue stream of at least $4 million in the 2024-25 academic year. Foundational programs enable international students to study in their home countries while also creating a pool of students who choose to study abroad, and potentially complete their studies at our Davis University and EduGlobal College, and at other top schools in the US."

Davis University's foundational programs enrolled 115 students for the Fall semester as of September 30, 2024 as compared to 55 students for the 2023-24 academic year. Foundational programs are a course of study for international students to acquire the skills needed to ensure their success at colleges and universities. We believe that Davis' two-year foundational programs can secure sustainable revenue because the retention rate of students from the first to the second year is usually close to 100%. In addition to this representing a unique revenue stream for the Company, the foundational programs also create a potential pool of future students to attend our owned and operated schools.

Davis' foundational program students are enrolled in elite universities. The foundational programs are currently placed on the main campuses of Peking University, Shanghai Jiao Tong University, and the Beijing Institute of Technology, preeminent universities in China. The Company typically places its own instructors in these programs and collaborates on the academic programming for students.  

EpicQuest Education's Mission of Internationalization

The Company believes that internationalization is a key element of its strategic growth plan. EpicQuest Education's growth plan is to have its operated colleges, Davis University and EduGlobal College, become increasingly focused on international recruiting and enhanced globalized learning to its students as well as pathways to achieve university degrees. The Company's strategic growth plan is to achieve international expansion and establish EpicQuest Education as a truly international service provider of higher learning.

About EpicQuest Education Group International Limited

EpicQuest Education Group International Limited ("EpicQuest Education" or the "Company") provides comprehensive education solutions for domestic and international students seeking university and University degrees in the US, Canada and the UK. The Company owns and operates EduGlobal University, based in British Columbia, Canada, which focuses on English proficiency educational programming for students pursuing academic degrees. The Company operates and is a 70% owner of Davis University, a career training University located in Toledo, Ohio. In addition, the Company has a recruiting relationship with the Miami University Regional campuses, where it maintains residential facilities, a full-service cafeteria, recreational facilities, shuttle buses and an office for the regional campuses that provides study abroad and post-study services for its students; these facilities are not owned, maintained, operated or are a part of Miami University. The Company is also a recruiting agent for the University of the West of Scotland (through The Education Group (London) Ltd) and Coventry University, both of which are located in the UK. EpicQuest Education recently established a wholly owned subsidiary, Gilmore Inv LLC, in Ohio, that will offer international educational programs related to kinesiology and recreation education. The Company also established a company in Ohio, SouthGilmore LLC that has been formed to organize sports-related entertainment projects, which is 40% owned by Gilmore. For more information, please visit www.epicquesteducation.com/.

Safe Harbor Statement

Certain of the statements made in this press release are "forward-looking statements" within the meaning and protections of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements in this release include, without limitation, the ability of the Company to achieve the expected annual revenue stream of at least $4 million in the 2024-25 academic year.. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performance, capital, ownership or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as "may," "will," "anticipate," "assume," "should," "indicate," "would," "believe," "contemplate," "expect," "estimate," "continue," "plan," "point to," "project," "could," "intend," "target" and other similar words and expressions of the future.

All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in our most recent Form 20-F and otherwise in our SEC reports and filings. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC's Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made.

Contacts:

EpicQuest Education Group International Limited
+1 513-649-8350
info@epicquesteducation.com

Investor Relations:
Precept Investor Relations LLC
David Rudnick
+1 646-694-8538
david.rudnick@preceptir.com

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SOURCE EpicQuest Education Group International Limited

FAQ

What is the expected revenue from EpicQuest Education's (EEIQ) foundational programs for 2024-25?

EpicQuest Education estimates that its existing foundational programs will provide an annual revenue stream of at least $4 million in the 2024-25 academic year.

How many students enrolled in Davis University's foundational programs for Fall 2024?

Davis University's foundational programs enrolled 115 students for the Fall semester as of September 30, 2024, compared to 55 students for the 2023-24 academic year.

Which Chinese universities host EpicQuest Education's (EEIQ) foundational programs?

EpicQuest Education's foundational programs are currently placed on the main campuses of Peking University, Shanghai Jiao Tong University, and the Beijing Institute of Technology.

What is the retention rate for EpicQuest Education's (EEIQ) two-year foundational programs?

The retention rate of students from the first to the second year in EpicQuest Education's two-year foundational programs is usually close to 100%.

EpicQuest Education Group International Limited

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Education & Training Services
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