EpicQuest Education Group International Ltd. Announces First Half Fiscal Year 2023 Financial Results and Operations Update
MIDDLETOWN, Ohio, July 14, 2023 /PRNewswire/ -- EpicQuest Education Group International Limited (NASDAQ: EEIQ), ("EpicQuest Education", "EEIQ" or the "Company"), a provider of comprehensive education solutions for domestic and international students seeking college and university degrees in the US, Canada and the UK, today announced its first half financial results for the six months ended March 31, 2023 and an operations update.
- MIDDLETOWN, Ohio, July 14, 2023 /PRNewswire/ -- EpicQuest Education Group International Limited (NASDAQ: EEIQ), ("EpicQuest Education", "EEIQ" or the "Company"), a provider of comprehensive education solutions for domestic and international students seeking college and university degrees in the US, Canada and the UK, today announced its first half financial results for the six months ended March 31, 2023 and an operations update.
- First Half 2023 Financial Results Ended March 31, 2023
Revenues were $3.42 million for the first half of fiscal 2023 compared to $4.06 million for the same period of 2022, representing a decrease of $0.64 million, or 15.6%. - As a result, our gross margin increased to 77.5% for the first half ended March 31, 2023 from 67.3% for the same period of 2022.
- Operating loss was $3.19 million for the first half of fiscal 2023 compared to an operating loss of $3.33 million for the same period of 2022.