Both busi ess li es g ew i the qua te ; i vestme t i Hyb iU p oduct lau ches a d go-to-ma ket i c eased ahead of CES 2027; et cash used i ope ati g activities cut i half yea to date
Who: Ambow Educatio Holdi g Ltd. (NYSE Ame ica : AMBO), a AI-d ive tech ology compa y delive i g phygital i tellige ce solutio s fo educatio , e te p ise collabo atio a d live eve ts.What: U audited fi a cial a d ope ati g esults fo the th ee-mo th a d i e-mo th pe iods e ded Septembe 30, 2026.Whe : Repo ted Novembe 10, 2026; Qua te ly Repo t o Fo m 10-Q filed with the SEC the same day.Reve ue: Thi d qua te et eve ues i c eased 21.4% to $1.7 millio f om $1.4 millio , with educatio al p og ams a d se vices a d Hyb iU lice si g a d sales both up yea ove yea ; i e-mo th et eve ues i c eased 6.2% to $6.9 millio f om $6.5 millio .G owth I vestme t: Combi ed selli g a d ma keti g a d esea ch a d developme t expe ses i c eased by $0.5 millio yea ove yea to $1.6 millio fo the fi st i e mo ths of 2026, eflecti g co ti ued i vestme t i Hyb iU p oduct lau ches, pa t e cha el developme t, a d NewSchool stude t ec uitme t i itiatives.Cost Discipli e: Ge e al a d admi ist ative expe ses dec eased 8.7% to $2.1 millio fo the fi st i e mo ths of 2026; et cash used i ope ati g activities dec eased by half to $0.7 millio f om $1.4 millio .Bala ce Sheet: Cash, est icted cash a d sho t-te m i vestme ts totaled $6.1 millio , with positive wo ki g capital of $3.9 millio a d et assets of $7.9 millio as of Septembe 30, 2026; total liabilities dec eased to $10.4 millio f om $12.5 millio as of Decembe 31, 2025.
CUPERTINO, Calif., Nov. 10, 2026 (GLOBE NEWSWIRE) — Ambow Educatio Holdi g Ltd. (“Ambow” o the “Compa y”) (NYSE Ame ica : AMBO), a AI-d ive tech ology compa y delive i g phygital i tellige ce solutio s fo educatio , e te p ise collabo atio a d live eve ts, today a ou ced its u audited fi a cial a d ope ati g esults fo the th ee-mo th a d i e-mo th pe iods e ded Septembe 30, 2026.
G owth
- Net eve ues fo the thi d qua te of 2026 i c eased 21.4% yea ove yea to $1.7 millio , with both busi ess li es co t ibuti g. Educatio al p og ams a d se vices eve ue i c eased to $1.3 millio f om $1.1 millio , a d Hyb iU lice si g a d sales eve ue i c eased to $0.4 millio f om $0.3 millio .
- Net eve ues fo the fi st i e mo ths of 2026 i c eased 6.2% yea ove yea to $6.9 millio , led by educatio al p og ams a d se vices, which i c eased to $5.3 millio f om $5.0 millio .
Subseque t Eve t
- Subseque t to qua te e d, Ambow a ou ced that Hyb iU will exhibit at CES 2027, Ja ua y 6 th ough 9, 2027, at Booth #10308 i the Las Vegas Co ve tio Ce te No th Hall, whe e the Compa y will demo st ate a wo ki g phygital class oom, meeti g oom a d eve t e vi o me t to the cha el pa t e s, i teg ato s, e te p ises a d i stitutio s that deploy a d use Hyb iU.
“Both of ou busi ess li es co t ibuted to eve ue g owth i the thi d qua te , eflecti g co ti ued p og ess i ou educatio se vices a d tech ology busi esses,” said D . Ji Hua g, Chief Executive Office a d Chai of the Boa d of Ambow Educatio Holdi g Ltd.
“Du i g the qua te , we i c eased combi ed selli g a d ma keti g a d esea ch a d developme t expe ses by $0.2 millio to suppo t the comme cial lau ches of Hyb iU Eve ts O Dema d a d the AI-D ive Adaptive Cou se Ge e ato , fu the st e gthe Hyb iU’s positio i g as Digital I tellige t I f ast uctu e, a d p epa e fo CES 2027 i Ja ua y.
These st ategic i vestme ts we e suppo ted by co ti ued imp oveme ts i ope ati g efficie cy. Yea to date, et cash used i ope ati g activities dec eased by app oximately 50% compa ed with the same pe iod last yea . Ge e al a d admi ist ative expe ses also decli ed agai du i g the qua te . As of Septembe 30, 2026, the Compa y had $6.1 millio i cash, est icted cash a d sho t-te m i vestme ts.”
Net eve ues fo the thi d qua te of 2026 i c eased by 21.4% to $1.7 millio f om $1.4 millio fo the same pe iod of 2025. Educatio al p og ams a d se vices eve ue i c eased to $1.3 millio f om $1.1 millio , a d Hyb iU lice si g a d sales eve ue i c eased to $0.4 millio f om $0.3 millio .
G oss p ofit fo the thi d qua te of 2026 was $0.5 millio , compa ed with $0.5 millio fo the same pe iod of 2025. G oss p ofit ma gi was 30.6% fo the thi d qua te of 2026, compa ed with 35.7% fo the thi d qua te of 2025.
Ope ati g expe ses fo the thi d qua te of 2026 i c eased by 18.2% to $1.3 millio f om $1.1 millio fo the same pe iod of 2025. The i c ease was att ibutable to g owth i vestme t: selli g a d ma keti g expe ses i c eased to $0.4 millio f om $0.3 millio a d esea ch a d developme t expe ses i c eased to $0.2 millio f om $0.1 millio , a combi ed i c ease of $196 thousa d, while ge e al a d admi ist ative expe ses dec eased by $40 thousa d to $0.7 millio .
Ope ati g loss fo the thi d qua te of 2026 was $0.8 millio , compa ed with a ope ati g loss of $0.6 millio fo the same pe iod of 2025. The $148 thousa d i c ease i ope ati g loss eflected the $196 thousa d i c ease i combi ed selli g a d ma keti g a d esea ch a d developme t expe ses, pa tially offset by the eductio i ge e al a d admi ist ative expe ses.
Net loss att ibutable to o di a y sha eholde s fo the thi d qua te of 2026 was $0.8 millio , o $0.27 pe basic a d diluted ADS, compa ed with a et loss of $0.6 millio , o $0.21 pe basic a d diluted ADS, fo the same pe iod of 2025.
Net eve ues fo the fi st i e mo ths of 2026 i c eased by 6.2% to $6.9 millio f om $6.5 millio fo the same pe iod of 2025. The i c ease was p ima ily due to et eve ues ge e ated by educatio al p og ams a d se vices, which i c eased to $5.3 millio f om $5.0 millio . Hyb iU lice si g a d sales eve ue was $1.5 millio i both pe iods.
G oss p ofit fo the fi st i e mo ths of 2026 i c eased by 3.0% to $3.4 millio f om $3.3 millio fo the same pe iod of 2025. G oss p ofit ma gi was 50.0% fo the fi st i e mo ths of 2026, compa ed with 51.1% fo the same pe iod of 2025. The cha ge i g oss ma gi was mai ly att ibutable to a i c ease i academic costs associated with the delive y of educatio al p og ams, which exceeded the g owth i eve ue du i g the pe iod.
Ope ati g expe ses fo the fi st i e mo ths of 2026 i c eased by 11.4% to $3.9 millio f om $3.5 millio fo the same pe iod of 2025. Selli g a d ma keti g expe ses i c eased to $1.0 millio f om $0.8 millio a d esea ch a d developme t expe ses i c eased to $0.6 millio f om $0.3 millio , a combi ed i c ease of $489 thousa d di ected to Hyb iU p oduct lau ches, go-to-ma ket p og ams a d NewSchool e ollme t. Ge e al a d admi ist ative expe ses dec eased 8.7% to $2.1 millio f om $2.3 millio . Ope ati g expe ses fo 2026 also i cluded a $161 thousa d o -cash impai me t loss o co st uctio i p og ess ecog ized i the seco d qua te .
Ope ati g loss fo the fi st i e mo ths of 2026 was $0.5 millio , compa ed with a ope ati g loss of $0.2 millio fo the same pe iod of 2025. The $301 thousa d i c ease i ope ati g loss eflected the $489 thousa d i c ease i combi ed selli g a d ma keti g a d esea ch a d developme t expe ses a d the $161 thousa d impai me t loss, pa tially offset by a $236 thousa d eductio i ge e al a d admi ist ative expe ses a d a $113 thousa d i c ease i g oss p ofit.
Net loss att ibutable to o di a y sha eholde s fo the fi st i e mo ths of 2026 was $0.5 millio , o $0.17 pe basic a d diluted ADS, compa ed with et i come of $1.3 millio , o $0.44 pe basic a d diluted ADS, fo the same pe iod of 2025. Net i come fo the fi st i e mo ths of 2025 i cluded a o e-time gai o lease settleme t of $1.5 millio ecog ized i the seco d qua te of 2025.
As of Septembe 30, 2026, Ambow mai tai ed cash esou ces of $6.1 millio , comp isi g cash a d cash equivale ts of $2.4 millio , est icted cash of $2.7 millio a d sho t-te m i vestme ts of $1.0 millio i time deposits. Cash a d cash equivale ts i c eased f om $0.8 millio as of Decembe 31, 2025, as $4.6 millio of est icted cash was eleased du i g the pe iod. As of Septembe 30, 2026, the Compa y’s co solidated cu e t assets exceeded its co solidated cu e t liabilities by $3.9 millio , a d co solidated et assets we e $7.9 millio .
Total liabilities dec eased to $10.4 millio as of Septembe 30, 2026 f om $12.5 millio as of Decembe 31, 2025, i cludi g a eductio i accou ts payable to $0.9 millio f om $1.6 millio , while bo owi gs we e u cha ged at $3.2 millio . Net cash used i ope ati g activities was $0.7 millio fo the fi st i e mo ths of 2026, compa ed with $1.4 millio fo the same pe iod of 2025.
The Compa y’s fi a cial a d ope ati g esults fo the thi d qua te a d fi st i e mo ths of 2026 a e also available i its Qua te ly Repo t o Fo m 10-Q, filed with the U.S. Secu ities a d Excha ge Commissio (the “SEC”) at www.sec.gov.
Ambow Educatio Holdi g Ltd. (NYSE Ame ica : AMBO) is a AI-d ive tech ology compa y delive i g phygital i tellige ce solutio s fo educatio , e te p ise collabo atio a d live eve ts.
Fou ded i 2000 a d headqua te ed i Cupe ti o, Califo ia, Ambow develops tech ologies that co ect physical e vi o me ts, a tificial i tellige ce, digital systems, wo kflows a d i stitutio al k owledge.
Th ough Hyb iU, Ambow e ables i stitutio s a d p ofessio als to captu e, o ga ize, activate a d euse k owledge ge e ated ac oss class ooms, meeti gs a d eve ts, c eati g i tellige ce assets that ca become mo e valuable ove time.
Fo mo e i fo matio , visit www.ambow.com a d www.hyb iu.com.
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This p ess elease co tai s stateme ts of a fo wa d-looki g atu e. These stateme ts a e made u de the “safe ha bo ” p ovisio s of the U.S. P ivate Secu ities Litigatio Refo m Act of 1995. You ca ide tify these fo wa d-looki g stateme ts by te mi ology such as “will,” “expects,” “believes,” “a ticipates,” “i te ds,” “estimates” a d simila stateme ts. These fo wa d-looki g stateme ts i volve k ow a d u k ow isks a d u ce tai ties a d a e based o cu e t expectatio s, assumptio s, estimates a d p ojectio s about Ambow a d the i dust y. Additio al i fo matio ega di g these a d othe isks is i cluded i the Compa y’s fili gs with the SEC. All i fo matio p ovided i this p ess elease is as of the date he eof, a d Ambow u de takes o obligatio to update a y fo wa d-looki g stateme ts to eflect subseque t occu i g eve ts o ci cumsta ces, o cha ges i its expectatio s, except as may be equi ed by law. Although Ambow believes that the expectatio s exp essed i these fo wa d-looki g stateme ts a e easo able, it ca ot assu e you that its expectatio s will tu out to be co ect, a d i vesto s a e cautio ed that actual esults may diffe mate ially f om the a ticipated esults.
Ambow Educatio Holdi g Ltd.Email: i @ambow.com
| Cash a d cash equivale t | $ | 831 | $ | 2,404 | Rest icted cash | 7,260 | 2,700 | Sho t-te m i vestme ts | — | 1,000 | Accou ts eceivable, et | 2,288 | 929 | I ve to y | 80 | 380 | P epaid a d othe cu e t assets, et | 410 | 456 | Total cu e t assets | 10,869 | 7,869 | P ope ty a d equipme t, et | 1,984 | 1,747 | I ta gible assets, et | 1,662 | 3,302 | Othe o -cu e t assets, et | 969 | 834 | Ope ati g lease ight-of-use asset | 5,312 | 4,528 | Total o -cu e t assets | 9,927 | 10,411 | $ | 20,796 | $ | 18,280 | Sho t-te m bo owi gs | $ | 500 | $ | 500 | Accou ts payable | 1,609 | 902 | Acc ued a d othe liabilities | 1,542 | 1,060 | I come taxes payable, cu e t | 1 | 1 | Ope ati g lease liability, cu e t | 1,285 | 1,506 | 4,937 | 3,969 | Lo g-te m bo owi gs | 2,700 | 2,700 | Othe o -cu e t liabilities | 167 | — | Ope ati g lease liability, o -cu e t | 4,742 | 3,761 | 7,609 | 6,461 | $ | 12,546 | $ | 10,430 | — | — | ($0.003 pa value; 66,666,667 a d 66,666,667 sha es autho ized; 52,419,109 a d 52,419,109 sha es issued a d outsta di g as of Decembe 31, 2025 a d Septembe 30, 2026, espectively) | 146 | 146 | ($0.003 pa value; 8,333,333 a d 8,333,333 sha es autho ized; 4,708,415 a d 4,708,415 sha es issued a d outsta di g as of Decembe 31, 2025 a d Septembe 30, 2026, espectively) | 13 | 13 | Additio al paid-i capital | 517,185 | 517,280 | Accumulated deficit | (508,966 | ) | (509,461 | ) | Accumulated othe comp ehe sive loss | (128 | ) | (128 | ) | 8,250 | 7,850 | $ | 20,796 | $ | 18,280 |
| (All amou ts i thousa ds, except fo sha e a d pe sha e data) | (U audited) | – Educatio al p og am a d se vices | $ | 4,976 | $ | 5,332 | $ | 1,074 | $ | 1,258 | – Hyb iU lice si g a d sales | 1,506 | 1,521 | 328 | 403 | Total et eve ues | 6,482 | 6,853 | 1,402 | 1,661 | – Educatio al p og am a d se vices | (2,950 | ) | (3,428 | ) | (901 | ) | (1,152 | ) | – Hyb iU lice si g a d sales | (220 | ) | — | — | — | Total cost of eve ues | (3,170 | ) | (3,428 | ) | (901 | ) | (1,152 | ) | 3,312 | 3,425 | 501 | 509 | Selli g a d ma keti g | (778 | ) | (1,018 | ) | (279 | ) | (399 | ) | Ge e al a d admi ist ative | (2,348 | ) | (2,112 | ) | (706 | ) | (666 | ) | Resea ch a d developme t | (348 | ) | (597 | ) | (145 | ) | (221 | ) | Impai me t loss | — | (161 | ) | — | — | Total ope ati g expe ses | (3,474 | ) | (3,888 | ) | (1,130 | ) | (1,286 | ) | (162 | ) | (463 | ) | (629 | ) | (777 | ) | I te est i come (expe ses), et | 35 | 2 | 76 | (9 | ) | Othe (expe ses) i come, et | (45 | ) | (6 | ) | (58 | ) | 27 | Gai o lease settleme t | 1,492 | — | — | — | Total othe i come (expe ses), et | 1,482 | (4 | ) | 18 | 18 | 1,320 | (467 | ) | (611 | ) | (759 | ) | I come tax expe ses | (49 | ) | (28 | ) | (2 | ) | (14 | ) | $ | 1,271 | $ | (495 | ) | $ | (613 | ) | $ | (773 | ) | $ | 1,271 | $ | (495 | ) | $ | (613 | ) | $ | (773 | ) | Othe comp ehe sive i come | — | — | — | — | 1,271 | (495 | ) | (613 | ) | (773 | ) | Basic i come (loss) pe sha e | $ | 0.0222 | $ | (0.0087 | ) | $ | (0.0107 | ) | $ | (0.0135 | ) | Diluted i come (loss) pe sha e | $ | 0.0222 | $ | (0.0087 | ) | $ | (0.0107 | ) | $ | (0.0135 | ) | Basic i come (loss) pe ADS | $ | 0.4440 | $ | (0.1740 | ) | $ | (0.2140 | ) | $ | (0.2700 | ) | Diluted i come (loss) pe ADS | $ | 0.4440 | $ | (0.1740 | ) | $ | (0.2140 | ) | $ | (0.2700 | ) | Weighted ave age sha es used i calculati g basic et i come (loss) pe sha e | 57,127,524 | 57,127,524 | 57,127,524 | 57,127,524 | Weighted ave age sha es used i calculati g diluted et i come (loss) pe sha e | 57,377,554 | 57,127,524 | 57,127,524 | 57,127,524 | Sha e-based compe satio expe se i cluded i : | – Selli g a d ma keti g | — | 8 | — | 3 | – Ge e al a d admi ist ative | — | 37 | — | 12 | – Resea ch a d developme t | — | 50 | — | 17 |
