Four Seasons Education (Cayman) Inc.FEDU
What Four Seasons Education (Cayman) Inc. does.
We started our business initially focusing on math education for elementary school students in Shanghai, from where we actively seeking to expand during the past years.
We always keep a keen prospective for the evolving and developing industry. In addition to the course offerings that target improving learners and customers’ academic performance, we also began to expand our offerings by introducing study camp and learning trip. This expansion aligns with our broader vision of integrating education with travel, leveraging the increasing demand for immersive and interactive learning experiences. In compliance with regulatory policies promulgated in 2021, we ceased offering the K-9 Academic AST Services in mainland China at the end of the same year. We have since realigned our business focus towards enrichment learning services, tourism services, as well as learning technology and content solutions to capture evolving customer needs. We are hosting a series of study camps, learning trips and interest-oriented classes, and have continued to integrate technology with learning, promote industry innovation, and lead industry development from our inception.
Our revenue was RMB254.4 million (US$37.1 million) in the 2026 fiscal year, compared with RMB251.1 million in the 2025 fiscal year, and RMB125.4 million in the 2024 fiscal year. In the 2026 fiscal year, we recorded a net income of RMB29.1 million (US$4.2 million), compared with the net loss of RMB0.6 million in the 2025 fiscal year and net income of RMB2.8 million in the 2024 fiscal year. Our adjusted net income, which excludes share-based compensation expenses, unrealized holding gain in investments, and impairment loss on long-lived assets (net of tax effect), was RMB28.3 million (US$4.1 million) in the 2026 fiscal year, compared with adjusted net income of RMB2.4 million in the 2025 fiscal year and adjusted net income of RMB5.7 million in the 2024 fiscal year. For a detailed description of adjusted net income (loss), please see “Item 5. Operating and Financial Review and Prospects — A. Operating Results — Non-GAAP Measures.”
Revenue and profit, by fiscal year.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Revenue | $280.3M | $250.2M | $34.2M | $125.4M | $251.1M | $254.4M |
| Net income | -$28.2M | -$113.5M | -$29.7M | $5.0M | $801,000 | $30.8M |
| Free cash flow | $20.7M | -$101.2M | -$34.2M | -$40.1M | -$37.2M | $23.8M |
More on FEDU.
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Figures from Four Seasons Education (Cayman) Inc.'s filings with the U.S. SEC, standardised automatically; prices are end-of-day closes. Not financial advice.