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New Oriental Announces Results for the First Fiscal Quarter Ended August 31, 2025

EDU
  • New Oriental Education & Technology Group Inc. reported unaudited financial results for the first fiscal quarter of FY2026 (ended August 31, 2025).
  • Total net revenues increased by 6.1% year over year to US$1,523.0 million.
  • Operating income rose by 6.0% year over year to US$310.8 million.
  • Net income attributable to New Oriental decreased by 1.9% year over year to US$240.7 million.
  • Non-GAAP operating income increased by 11.3% year over year to US$335.5 million, with a Non-GAAP operating margin of 22.0%.
  • Non-GAAP net income attributable to New Oriental decreased by 1.6% year over year to US$258.3 million.
  • Revenues from overseas test preparation grew by approximately 1.0% year over year.
  • Revenues from overseas study consulting increased by approximately 2.0% year over year.
  • Domestic test preparation targeting adults & university students grew by approximately 14.4% year over year.
  • New educational business initiatives recorded a revenue growth of 15.3% year over year.
  • Non-academic tutoring courses attracted approximately 530,000 student enrollments across around 60 cities.
  • Intelligent learning systems & devices had approximately 452,000 active paid users across around 60 cities.
  • The company approved a three-year shareholder return plan starting FY2026 dedicating no less than 50% of net income to shareholder returns.
  • An ordinary cash dividend of US$1.2 per ADS (US$0.12 per common share) totaling approximately US$190 million was approved for payment in two installments.
  • A new share repurchase program allowing the repurchase of up to US$300 million of ADSs or common shares over the next 12 months was approved.
  • Net operating cash inflow for the quarter was approximately US$192.3 million.
  • As of August 31, 2025, the company held US$1,282.3 million in cash & cash equivalents plus US$1,570.2 million in term deposits.
  • Deferred revenue increased by 10.0% year over year to US$1,906.7 million.
  • The company expects Q2 FY2026 net revenues to range from US$1,132.1 million to US$1,163.3 million, representing a 9% to 12% year over year increase.
  • Full-year FY2026 net revenue guidance remains US$5,145.3 million to US$5,390.3 million, representing a 5% to 10% year over year increase.
  • Total share-based compensation expenses increased by 239.8% to US$23.3 million in the first fiscal quarter of 2026.