← Four Seasons Education (Cayman) Inc.
| Annual Trend | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
| Net income (loss) for the year | $17.3m | $41.8m | ($1.5m) | ($109.6m) | ($27.9m) | ($118.7m) | ($33.5m) | $2.8m | ($627k) | $29.1m | — | |
| Net Income (Loss) Attributable to Parent | — | $7.0m |
($90k)
-101.28%
|
($15.7m)
-17303.33%
|
($4.4m)
+72.20%
|
($18.0m)
-313.02%
|
($4.3m)
+76.21%
|
$690k
+116.13%
|
$111k
-83.91%
|
$4.5m
+3942.34%
|
— | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | — | $6.6m | ($220k) | ($15.7m) | ($4.3m) | ($18.8m) | ($4.8m) | $386k | ($85k) | $4.2m | — | |
| Net Income (Loss) Attributable to Noncontrolling Interest | — | ($400k) | ($130k) | ($11k) | $48k | ($835k) | ($551k) | ($304k) | ($196k) | ($247k) | — | |
| Amortization of Intangible Assets | $0 | $0 | $513k | $619k | $301k | $272k | $114k | $86k | $58k | $86k | — | |
| Depreciation | — | $1.0m | $2.2m | $2.2m | $2.1m | $1.3m | $404k | $519k | $497k | $910k | $17.2m | |
| Depreciation of property and equipment | $1.8m | $6.5m | $14.5m | $15.4m | $13.8m | $8.5m | $2.8m | $3.7m | $3.6m | $6.2m | $17.8m | |
| Amortization of operating lease right-of-use assets | — | — | — | — | — | — | $3.0m | — | $8.0m | $11.0m | — | |
| Deferred income taxes | ($530k) | ($3.0m) | ($6.3m) | ($12.7m) | ($3.3m) | $14.4m | $118k | $26k | — | — | $0 | |
| Share-based Payment Arrangement, Noncash Expense | — | $3.7m | $4.8m | $4.4m | $4.2m | $1.4m | $457k | $434k | $690k | $241k | $1.7m | |
| Share-based Payment Arrangement, Expense | — | $3.7m | $4.8m | $4.4m | $4.2m | $1.4m | $457k | $434k | $690k | $241k | $1.7m | |
| Share-based Payment Arrangement, Expensed and Capitalized, Amount | — | — | $127k | — | — | — | — | $400k | — | — | $1.7m | |
| Share-based compensation | $3.4m | $23.5m | $32.2m | $30.9m | $27.5m | $9.0m | $3.2m | $3.1m | $5.0m | $1.7m | $1.7m | |
| Equity Securities without Readily Determinable Fair Value, Impairment Loss, Annual Amount | — | — | — | — | — | — | — | $69k | $0 | $0 | — | |
| Goodwill and Intangible Asset Impairment | — | — | $0 | $20.8m | — | $7.1m | — | — | — | — | — | |
| Goodwill, Impairment Loss | — | — | $83k | $16.4m | $0 | $6.7m | $0 | $0 | $0 | $0 | $0 | |
| Impairment of Intangible Assets (Excluding Goodwill) | — | — | — | $4.4m | $0 | $357k | $0 | $0 | $0 | $0 | — | |
| Impairment of Intangible Assets, Finite-lived | — | — | — | — | $0 | $357k | $0 | $0 | $0 | $0 | — | |
| Operating Lease, Impairment Loss | — | — | — | $114k | — | — | $0 | $0 | $0 | $0 | — | |
| Income (Loss) from Equity Method Investments | — | — | ($12k) | ($32k) | ($595k) | ($5.8m) | — | — | — | — | — | |
| Other Nonoperating Income (Expense) | — | ($206k) | ($495k) | $1.6m | $294k | ($555k) | ($76k) | ($199k) | ($102k) | $55k | — | |
| Changes in operating assets and liabilities: | ||||||||||||
| Increase (Decrease) in Accounts Receivable | — | $863k | — | — | — | — | ($166k) | $40k | ($165k) | $164k | $6.9m | |
| Accounts receivable | $152k | ($5.5m) | — | — | $1.0m | ($1.7m) | $1.1m | ($289k) | $1.2m | ($1.1m) | $6.9m | |
| Other receivables, deposits and other assets | ($2.7m) | $1.6m | ($14.1m) | ($3.5m) | $8.1m | ($11.9m) | $3.9m | ($7.1m) | ($10.5m) | $7.3m | — | |
| Accounts payables | — | — | — | — | — | — | — | — | $3.7m | ($732k) | ($732k) | |
| Accrued expenses and other current liabilities | $20.0m | ($8.3m) | $27.8m | $22.4m | $11.9m | ($3.1m) | ($7.6m) | $142k | $2.9m | ($7.0m) | — | |
| Deferred revenue | $46.7m | $5.3m | ($21.4m) | ($15.9m) | $3.7m | ($66.1m) | $777k | $10.4m | $9.9m | $2.2m | — | |
| Purchases of long-lived assets in accrued expenses and other current liabilities | — | $145k | $984k | $221k | $302k | $326k | $120k | — | $4.4m | $181k | — | |
| Net Cash Provided by (Used in) Operating Activities | $119.5m |
$15.2m
-87.31%
|
$7.9m
-47.62%
|
$11.8m
+48.02%
|
$4.8m
-59.11%
|
($14.5m)
-401.10%
|
($3.7m)
+74.59%
|
$2.3m
+162.53%
|
$2.7m
+19.48%
|
$4.4m
+59.32%
|
$30.0m
+585.91%
|
|
| Cash flows from investing activities: | ||||||||||||
| Payments to Acquire Property, Plant, and Equipment | ($6.7m) | $3.7m | $2.7m | $1.3m | $1.6m | $1.6m | $1.2m | $7.9m | $7.9m | $912k | ($6.9m) | |
| Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | — | ($8k) | ($239k) | ($36k) | ($64k) | ($151k) | ($45k) | $59k | ($9k) | $1k | ($8.8m) | |
| Unrealized Gain (Loss) on Investments | — | — | — | — | — | — | — | $543k | $278k | $356k | ($2.4m) | |
| Fair value changes of investments | — | — | — | — | — | $1.1m | $1.9m | ($3.9m) | ($2.0m) | ($2.4m) | — | |
| Payments of long-term investments | — | — | ($300k) | — | ($44.5m) | ($14.0m) | ($13.5m) | ($9.0m) | — | ($9.0m) | — | |
| Purchases of short-term investments | — | — | — | ($10.0m) | ($31.0m) | ($89.5m) | ($29.3m) | ($18.9m) | ($27.7m) | — | — | |
| Purchases of short-term investments under fair value | — | — | — | — | — | — | ($175.8m) | ($103.1m) | ($34.3m) | ($553.5m) | — | |
| Purchases of long-term investments under fair value | — | ($158.2m) | ($34.8m) | ($104.6m) | ($175.8m) | — | ($145.9m) | ($93.3m) | ($85.6m) | ($140.2m) | — | |
| Proceeds from maturity of investments | — | — | — | $35.2m | $192.9m | $128.1m | $276.6m | $351.8m | $207.0m | $602.4m | — | |
| Payments to Acquire Businesses, Net of Cash Acquired | — | — | $20.0m | $1.4m | ($132k) | $67k | — | ($10k) | — | — | ($10.1m) | |
| Net Cash Provided by (Used in) Investing Activities | ($10.2m) | ($26.9m) | ($28.0m) | ($14.1m) | ($10.5m) | $682k | ($13.9m) | $9.9m | $346k | ($15.8m) | ($108.1m) | |
| Cash flows from financing activities: | ||||||||||||
| Proceeds from long-term borrowings | — | — | — | — | — | — | — | $40.0m | $42.1m | $7.9m | — | |
| Dividends paid | — | $19 | $1 | — | — | — | — | — | $5 | — | $0 | |
| Dividends Payable, Current | — | $1 | — | — | — | — | — | — | — | — | — | |
| Dividends payment | — | ($122) | ($4) | — | — | — | — | — | ($35) | — | — | |
| Net Cash Provided by (Used in) Financing Activities | $74.9m |
$72.9m
-2.61%
|
($85k)
-100.12%
|
($3.8m)
-4345.88%
|
$30k
+100.79%
|
($4.1m)
-13606.67%
|
($121k)
+97.01%
|
$5.7m
+4838.84%
|
$1.7m
-70.40%
|
$1.3m
-22.16%
|
$9.1m
+586.00%
|
|
| Net (decrease) increase in cash, and cash equivalents and restricted cash | $188.6m | $352.4m | ($112.1m) | ($28.9m) | ($53.1m) | ($116.5m) | ($95.6m) | $125.2m | $37.0m | ($72.8m) | — | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | — | ($16.8m) | ($4.1m) | ($8.2m) | ($18.5m) | ($13.8m) | $17.4m | $5.1m | ($10.6m) | $266.5m | |
| Cash and cash equivalents, and restricted cash at beginning of the year | $231.0m | $583.3m | $471.2m | $442.4m | $389.2m | $272.7m | $177.1m | $302.2m | $339.3m | $266.5m | — | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | $70.4m | $63.3m | $60.1m | $43.2m | $25.5m | $42.0m | $46.6m | $38.9m | $266.5m | |
| Restricted cash, non-current | — | — | — | — | — | — | $1.4m | — | $128.0m | $130.4m | — | |
| Effect of foreign exchange rate changes | $4.4m | ($34.8m) | $22.5m | $14.1m | ($16.5m) | ($3.9m) | $27.4m | ($4.1m) | $2.2m | ($3.8m) | — | |
| Additional Supplementary Disclosures | ||||||||||||
| Additional Supplementary Disclosures | ||||||||||||
| Supplemental disclosure of cash flow information: | ||||||||||||
| Income Taxes Paid, Net | $15.8m | $22.0m | $22.0m | $13.1m | $10.2m | $3.3m | $156k | $57k | $53k | $33k | — | |
| Additional Financial Items | ||||||||||||
| Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal | — | — | — | — | — | $642k | — | — | — | — | — | |
| Gain (Loss) on Termination of Lease | — | — | — | — | — | ($1.1m) | — | — | — | — | — | |
| General and Administrative Expense | — | $14.7m | $19.3m | $19.9m | $18.1m | $13.5m | $6.5m | $6.2m | $6.7m | $7.1m | — | |
| Goodwill | — | $88k | $22.4m | $5.0m | $5.7m | — | — | $156k | $154k | $164k | $0 | |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | — | — | — | — | — | — | — | — | $722k | — | — | |
| Income Tax Expense (Benefit) | — | $4.2m | $1.5m | $599k | $735k | $3.5m | $143k | $153k | $99k | $93k | — | |
| Operating Lease, Expense | — | — | — | $7.8m | $8.4m | $6.3m | $427k | $551k | — | — | — | |
| Proceeds from Contributed Capital | — | — | — | — | — | — | — | — | $2k | — | — | |
| Proceeds from Contributions from Affiliates | — | — | — | — | — | — | — | — | $2k | — | — | |
| Proceeds from Noncontrolling Interests | — | $499k | $550k | $440k | $14k | $575k | — | — | $67k | $188k | — | |
| Proceeds from Stock Options Exercised | — | — | $10k | $108k | $1k | — | — | — | $663k | $11k | — | |
| Financing Receivable, Credit Loss, Expense (Reversal) | — | — | — | — | — | — | — | — | — | $326k | — | |
| Realized Investment Gains (Losses) | — | — | — | — | — | — | — | $446k | ($420k) | $574k | — | |
| Provision for credit losses | — | — | — | — | — | $6.9m | $1.4m | — | $0 | $2.2m | — | |
| Gains from deregistration of subsidiaries | — | — | — | — | — | — | $458k | ($2.2m) | ($394k) | ($8.8m) | — | |
| Amounts due from related parties | $2.6m | $32.9m | $12.7m | ($594k) | ($515k) | ($332k) | ($8.2m) | $2.9m | $4.5m | $645k | — | |
| Other non-current assets | — | — | ($800k) | ($107k) | ($91k) | ($1.7m) | $3.0m | ($254k) | ($1.4m) | ($1.1m) | — | |
| Changes in operating lease liabilities | — | — | — | ($47.5m) | ($57.9m) | ($59.8m) | ($2.1m) | ($3.2m) | ($7.1m) | ($10.4m) | — | |
| Amounts due to related parties | $420k | ($420k) | — | $446k | $587k | $396k | $584k | $1.1m | $2.1m | $182k | — | |
| Income tax payable | $4.5m | $7.5m | ($5.6m) | $3.7m | ($2.2m) | $4.6m | $2.4m | $1.0m | $670k | $517k | — | |
| Acquisition of businesses, net of cash acquired | $3.8m | — | ($133.9m) | ($10.1m) | $854k | ($422k) | — | $71k | — | — | — | |
| Purchases of intangible assets | — | — | ($322k) | — | — | ($120k) | — | — | — | ($659k) | — | |
| Loans to related parties | ($8.0m) | ($4.5m) | — | — | — | ($588k) | ($122k) | ($4.8m) | $0 | ($800k) | — | |
| Collection of loans to related party | — | — | — | — | — | — | — | $5.3m | $481k | $0 | — | |
| Capital contribution from non-controlling shareholders | $1.3m | $3.2m | $3.7m | $3.1m | $90k | $3.6m | — | — | $490k | $1.3m | — | |
| Return capital to non-controlling shareholder | — | — | — | ($3.3m) | — | — | — | — | — | ($171k) | — | |
| Proceeds from related parties loans | — | $390k | $214k | $986k | $100k | — | — | $1.6m | — | — | — | |
| Repayment to related parties loans | — | — | — | — | — | ($508k) | ($600k) | ($160k) | ($203k) | — | — | |
| Net proceeds from option exercised | — | — | $66k | $758k | $8k | — | — | — | $4.8m | $78k | — | |
| Repurchase of ordinary shares | — | — | — | ($27.9m) | — | ($27.8m) | ($238k) | ($159k) | $0 | — | — | |
| Cash and cash equivalents | $231.0m | $583.3m | $439.6m | $404.7m | $378.4m | $262.4m | $175.7m | $180.2m | $210.8m | $136.2m | $339.3m | |
| Cash paid for amounts included in measurement of lease liabilities | — | — | — | $60.2m | $59.5m | $39.0m | $4.5m | $3.0m | $7.4m | $11.1m | — | |
| Operating lease right-of-use assets obtained in exchange for operating lease liabilities | — | — | — | $16.4m | $51.4m | $30.3m | $2.5m | $1.8m | $20.9m | $12.9m | — |