New Risk • Jun 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.3x net interest cover). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Significant insider selling over the past 3 months (CA$79k sold). Market cap is less than US$100m (CA$20.5m market cap, or US$14.7m). Breakeven Date Change • Apr 19
Forecast to breakeven in 2027 The 2 analysts covering Global Education Communities expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 94% to 2026. The company is expected to make a profit of CA$1.81m in 2027. Average annual earnings growth of 177% is required to achieve expected profit on schedule. Reported Earnings • Apr 16
Second quarter 2026 earnings released: CA$0.012 loss per share (vs CA$0.008 profit in 2Q 2025) Second quarter 2026 results: CA$0.012 loss per share (down from CA$0.008 profit in 2Q 2025). Revenue: CA$5.04m (down 70% from 2Q 2025). Net loss: CA$852.0k (down 266% from profit in 2Q 2025). Revenue is forecast to grow 43% p.a. on average during the next 2 years, compared to a 6.6% growth forecast for the Consumer Services industry in North America. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 6% per year. Price Target Changed • Apr 16
Price target decreased by 13% to CA$0.91 Down from CA$1.05, the current price target is an average from 2 analysts. New target price is 183% above last closing price of CA$0.32. Stock is up 73% over the past year. The company is forecast to post a net loss per share of CA$0.07 next year compared to a net loss per share of CA$0.21 last year. New Risk • Apr 16
New major risk - Revenue and earnings growth Earnings have declined by 25% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.4x net interest cover). Earnings have declined by 25% per year over the past 5 years. Minor Risks Significant insider selling over the past 3 months (CA$99k sold). Market cap is less than US$100m (CA$22.0m market cap, or US$16.0m). New Risk • Mar 26
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: CA$99k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.4x net interest cover). Minor Risks Significant insider selling over the past 3 months (CA$99k sold). Market cap is less than US$100m (CA$23.0m market cap, or US$16.6m). Major Estimate Revision • Jan 23
Consensus EPS estimates upgraded to CA$0.07 loss, revenue downgraded The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast fell from CA$31.3m to CA$31.0m. 2026 losses expected to reduce from -CA$0.08 to -CA$0.07 per share. Consumer Services industry in Canada expected to see average net income growth of 23% next year. Consensus price target broadly unchanged at CA$1.06. Share price fell 5.0% to CA$0.38 over the past week. Major Estimate Revision • Jan 21
Consensus EPS estimates fall by 33% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from CA$32.2m to CA$31.3m. Losses expected to increase from CA$0.06 per share to CA$0.08. Consumer Services industry in Canada expected to see average net income growth of 23% next year. Consensus price target of CA$1.05 unchanged from last update. Share price rose 2.7% to CA$0.39 over the past week. Announcement • Jan 16
Global Education Communities Corp. Receives Approval for 26-Storey Project from City of Vancouver Global Education Communities Corp. announced that the City of Vancouver has approved the rezoning and density increase for GEC Langara. The approval transitions the site from a single-house residential designation to that of a 26-storey rental apartment tower. The GEC Langara project is now cleared to proceed with Development and Building Permit applications. The new approval allows for a maximum buildable area of 163,000 square feet, representing a 159% increase in density from the previous 10-storey design. The expansion aligns with British Columbia's Bill 47 Transit Oriented Area legislation, which mandates higher density near major transit hubs. Under the revised plan, GEC Langara will accommodate approximately 650 occupants, a 171% increase in housing capacity. Strategic Location: GEC Langara is situated at the corner of Cambie Street and West 49th Avenue, directly adjacent to the Langara-49th Avenue Canada Line station and three blocks from Langara College. The Canada Line provides rapid transit to downtown Vancouver in 15 minutes and to Vancouver International Airport or the City of Richmond in 10 minutes. Transit bus access to the University of British Columbia is under 40 minutes. Reported Earnings • Jan 15
First quarter 2026 earnings released: CA$0.001 loss per share (vs CA$0.03 loss in 1Q 2025) First quarter 2026 results: CA$0.001 loss per share (improved from CA$0.03 loss in 1Q 2025). Revenue: CA$7.62m (down 57% from 1Q 2025). Net loss: CA$54.0k (loss narrowed 98% from 1Q 2025). Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 7.4% growth forecast for the Consumer Services industry in North America. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Dec 19
Independent Director recently bought CA$90k worth of stock On the 15th of December, Shane Weir bought around 268k shares on-market at roughly CA$0.34 per share. This transaction amounted to 9.7% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Announcement • Dec 19
Global Education Communities Corp., Annual General Meeting, Feb 27, 2026 Global Education Communities Corp., Annual General Meeting, Feb 27, 2026. Location: british columbia, vancouver Canada Reported Earnings • Dec 05
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: CA$0.21 loss per share (down from CA$0.016 profit in FY 2024). Revenue: CA$29.0m (down 62% from FY 2024). Net loss: CA$14.1m (down CA$15.2m from profit in FY 2024). Revenue exceeded analyst estimates by 4.2%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 7.7% growth forecast for the Consumer Services industry in North America. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Announcement • Aug 11
Global Education Communities Corp. (TSX:GEC) announces an Equity Buyback for 4,000,000 shares, representing 5.93% of its issued share capital. Global Education Communities Corp. (TSX:GEC) announces a share repurchase program. Under the normal course issuer bid, the company will repurchase up to 4,000,000 common shares, representing 5.93% of its issued and outstanding common shares for a total of CAD 1 million. All the repurchased shares under the bid will be cancelled. The plan is valid till August 12, 2026, or on such earlier date as the company may complete its purchases pursuant to the bid or provides notice of termination. As of July 31, 2025, the company had 67,440,040 issued and outstanding common stock. Reported Earnings • Jul 17
Third quarter 2025 earnings released: CA$0.002 loss per share (vs CA$0.004 profit in 3Q 2024) Third quarter 2025 results: CA$0.002 loss per share (down from CA$0.004 profit in 3Q 2024). Revenue: CA$16.8m (down 8.4% from 3Q 2024). Net loss: CA$155.0k (down 162% from profit in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Announcement • Jul 07
An undisclosed buyer agreed to acquire Sprott-Shaw College Of Business Ltd. from Global Education Communities Corp. (TSX:GEC) for CAD 35 million. An undisclosed buyer agreed to acquire Sprott-Shaw College Of Business Ltd. from Global Education Communities Corp. (TSX:GEC) for CAD 35 million on July 7, 2025. This all-cash transaction results in post-adjustment cash proceeds of approximately CAD 35 million. Following the divestiture of Sprott Shaw College, GECC will retain ownership of Sprott Shaw Language College (SSLC) and Vancouver International College (VIC). Buy Or Sell Opportunity • May 02
Now 40% overvalued after recent price rise Over the last 90 days, the stock has risen 11% to CA$0.21. The fair value is estimated to be CA$0.15, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.2% over the last 3 years. Meanwhile, the company became loss making. New Risk • Apr 17
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.3x net interest cover). Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 32% per year over the past 5 years. Market cap is less than US$10m (CA$10.8m market cap, or US$7.77m). Buy Or Sell Opportunity • Apr 16
Now 24% overvalued Over the last 90 days, the stock has fallen 9.8% to CA$0.18. The fair value is estimated to be CA$0.15, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.2% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Apr 16
Second quarter 2025 earnings released: EPS: CA$0.008 (vs CA$0.015 loss in 2Q 2024) Second quarter 2025 results: EPS: CA$0.008 (up from CA$0.015 loss in 2Q 2024). Revenue: CA$16.8m (down 4.4% from 2Q 2024). Net income: CA$512.0k (up CA$1.49m from 2Q 2024). Profit margin: 3.1% (up from net loss in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has fallen by 37% per year, which means it is significantly lagging earnings. New Risk • Feb 13
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 18% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.2x net interest cover). Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 35% per year over the past 5 years. Market cap is less than US$10m (CA$12.8m market cap, or US$9.03m). Reported Earnings • Jan 15
First quarter 2025 earnings released: CA$0.03 loss per share (vs CA$0.05 profit in 1Q 2024) First quarter 2025 results: CA$0.03 loss per share (down from CA$0.05 profit in 1Q 2024). Revenue: CA$17.8m (down 20% from 1Q 2024). Net loss: CA$2.16m (down 161% from profit in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 32% per year, which means it is significantly lagging earnings. Announcement • Dec 02
Global Education Communities Corp., Annual General Meeting, Feb 07, 2025 Global Education Communities Corp., Annual General Meeting, Feb 07, 2025. Location: british columbia, vancouver Canada Reported Earnings • Dec 01
Full year 2024 earnings released: EPS: CA$0.02 (vs CA$0.058 loss in FY 2023) Full year 2024 results: EPS: CA$0.02 (up from CA$0.058 loss in FY 2023). Revenue: CA$77.0m (down 2.0% from FY 2023). Net income: CA$1.09m (up CA$5.00m from FY 2023). Profit margin: 1.4% (up from net loss in FY 2023). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings. New Risk • Nov 20
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$13.5m (US$9.66m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.5x net interest cover). Earnings have declined by 48% per year over the past 5 years. Market cap is less than US$10m (CA$13.5m market cap, or US$9.66m). Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Large one-off items impacting financial results. Announcement • Aug 28
Global Education Communities Corp. announced that it expects to receive CAD 2 million in funding Global Education Communities Corp. announced a non-brokered private placement of convertible debentures for gross proceeds of approximately CAD 2,000,000 on August 27, 2024. The debentures will mature in 24 months of issue and will carry an coupon of 10% per annum and payable quarterly in arrears. The debentures are convertible into common shares at a conversion price of approximately CAD 0.30 per share. The transaction is subject to approval of TSX Venture Exchange. Reported Earnings • Jul 16
Third quarter 2024 earnings released: EPS: CA$0.004 (vs CA$0.007 loss in 3Q 2023) Third quarter 2024 results: EPS: CA$0.004 (up from CA$0.007 loss in 3Q 2023). Revenue: CA$18.4m (down 7.6% from 3Q 2023). Net income: CA$251.0k (up CA$730.0k from 3Q 2023). Profit margin: 1.4% (up from net loss in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has fallen by 26% per year, which means it is performing significantly worse than earnings. Reported Earnings • Apr 16
Second quarter 2024 earnings released: CA$0.015 loss per share (vs CA$0.021 loss in 2Q 2023) Second quarter 2024 results: CA$0.015 loss per share (improved from CA$0.021 loss in 2Q 2023). Revenue: CA$17.5m (up 2.4% from 2Q 2023). Net loss: CA$982.0k (loss narrowed 30% from 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings. Announcement • Mar 20
Global Education Communities Corp. (TSX:GEC) announces an Equity Buyback for 1,000,000 shares, representing 1.48% for CAD 1 million. Global Education Communities Corp. (TSX:GEC) announces a share repurchase program. Under the normal course issuer bid, the company will repurchase up to 1,000,000 common shares, representing 1.48% of its issued and outstanding common shares for a total of CAD 1 million. All the repurchased shares under the bid will be cancelled. The plan is valid till March 21, 2025, or on such earlier date as the company may complete its purchases pursuant to the bid or provides notice of termination. As of March 11, 2024, the company had 67,440,040 issued and outstanding common stock. Announcement • Feb 24
Global Education Communities Corp. Approves the Appointment of Toby Chu as Director Global Education Communities Corp. at its annual general meeting held on February 23, 2024, approved the appointment of Toby Chu as Director. Board Change • Jan 18
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 7 highly experienced directors. Member of Advisory Board Dave Richardson was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Dec 15
Global Education Communities Corp., Annual General Meeting, Feb 23, 2024 Global Education Communities Corp., Annual General Meeting, Feb 23, 2024. New Risk • Dec 01
New major risk - Revenue and earnings growth Earnings have declined by 74% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.4x net interest cover). Earnings have declined by 74% per year over the past 5 years. Minor Risk Market cap is less than US$100m (CA$22.9m market cap, or US$16.9m). Announcement • Aug 02
Global Education Communities Corp. Announces Chief Financial Officer Changes Global Education Communities Corp. reported the appointment of Mr. Paul Harman as GECC's new Chief Financial Officer, effective August 1, 2023, to replace Mr. Hilbert Ng who is stepping down to pursue personal interests and devote more time to his family's business. Mr. Harman holds a Chartered Accountant designation from the Chartered Accountants Australia and New Zealand (CAANZ). He has been GECC's Controller and Vice President of Finance since February 2021. Before joining the Company, Mr. Harman worked at KPMG in Canada and Australia. Reported Earnings • Jul 18
Third quarter 2023 earnings released: CA$0.007 loss per share (vs CA$0.004 profit in 3Q 2022) Third quarter 2023 results: CA$0.007 loss per share (down from CA$0.004 profit in 3Q 2022). Revenue: CA$19.9m (up 5.4% from 3Q 2022). Net loss: CA$479.0k (down 269% from profit in 3Q 2022). Revenue is forecast to grow 9.2% p.a. on average during the next 2 years, compared to a 9.4% growth forecast for the Consumer Services industry in North America. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 108 percentage points per year, which is a significant difference in performance. Reported Earnings • Apr 16
Second quarter 2023 earnings released: CA$0.021 loss per share (vs CA$0.004 loss in 2Q 2022) Second quarter 2023 results: CA$0.021 loss per share (further deteriorated from CA$0.004 loss in 2Q 2022). Revenue: CA$17.1m (up 2.5% from 2Q 2022). Net loss: CA$1.40m (loss widened 385% from 2Q 2022). Revenue is forecast to grow 8.6% p.a. on average during the next 2 years, compared to a 8.8% growth forecast for the Consumer Services industry in North America. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 107 percentage points per year, which is a significant difference in performance. Announcement • Feb 11
CIBT Education Group Inc. Elects Toby Chu as Director CIBT Education Group Inc. at the annual general meeting held on February 10, 2023, elected Toby Chu as director. Board Change • Feb 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 6 highly experienced directors. Member of Advisory Board Dave Richardson was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Jan 18
First quarter 2023 earnings released: CA$0.02 loss per share (vs CA$0.003 profit in 1Q 2022) First quarter 2023 results: CA$0.02 loss per share (down from CA$0.003 profit in 1Q 2022). Revenue: CA$18.3m (up 7.4% from 1Q 2022). Net loss: CA$1.37m (down CA$1.61m from profit in 1Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 97 percentage points per year, which is a significant difference in performance. Announcement • Dec 09
CIBT Education Group Inc., Annual General Meeting, Feb 10, 2023 CIBT Education Group Inc., Annual General Meeting, Feb 10, 2023. Reported Earnings • Dec 01
Full year 2022 earnings released Full year 2022 results: Revenue: CA$73.2m (up 20% from FY 2021). Net loss: CA$15.3m (down 426% from profit in FY 2021). Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Buying Opportunity • Aug 09
Now 21% undervalued Over the last 90 days, the stock is up 18%. The fair value is estimated to be CA$0.82, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.6% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Jul 15
Third quarter 2022 earnings released: EPS: CA$0.004 (vs CA$0.013 loss in 3Q 2021) Third quarter 2022 results: EPS: CA$0.004 (up from CA$0.013 loss in 3Q 2021). Revenue: CA$18.9m (up 15% from 3Q 2021). Net income: CA$284.0k (up CA$1.18m from 3Q 2021). Profit margin: 1.5% (up from net loss in 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Reported Earnings • Apr 14
Second quarter 2022 earnings: EPS and revenues miss analyst expectations Second quarter 2022 results: CA$0.004 loss per share (down from CA$0.092 profit in 2Q 2021). Revenue: CA$16.7m (up 20% from 2Q 2021). Net loss: CA$288.0k (down 104% from profit in 2Q 2021). Revenue missed analyst estimates by 4.0%. Earnings per share (EPS) were also behind analyst expectations. Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Announcement • Jan 30
CIBT Education Group Inc. Elects Toby Chu as Director CIBT Education Group Inc. announced that at its AGM held on January 28, 2022, the shareholders elected Toby Chu as director of the company. Reported Earnings • Jan 16
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: CA$0.003 (down from CA$0.014 in 1Q 2021). Revenue: CA$17.1m (up 19% from 1Q 2021). Net income: CA$241.0k (down 77% from 1Q 2021). Profit margin: 1.4% (down from 7.3% in 1Q 2021). Revenue missed analyst estimates by 4.0%. Earnings per share (EPS) also missed analyst estimates by 50%. Earnings per share (EPS) missed analyst estimates by 50%. Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Reported Earnings • Dec 01
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: CA$0.07 (up from CA$0.017 in FY 2020). Revenue: CA$60.9m (down 2.7% from FY 2020). Net income: CA$4.70m (up 283% from FY 2020). Profit margin: 7.7% (up from 2.0% in FY 2020). Revenue missed analyst estimates by 4.0%. Earnings per share (EPS) also missed analyst estimates by 50%. Earnings per share (EPS) missed analyst estimates by 50%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance. Reported Earnings • Jul 17
Third quarter 2021 earnings released: CA$0.013 loss per share (vs CA$0.021 profit in 3Q 2020) The company reported a soft third quarter result with weaker earnings and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: CA$16.5m (up 21% from 3Q 2020). Net loss: CA$895.0k (down 159% from profit in 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 63 percentage points per year, which is a significant difference in performance. Reported Earnings • Apr 16
Second quarter 2021 earnings released: EPS CA$0.092 (vs CA$0.054 in 2Q 2020) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: CA$13.9m (down 12% from 2Q 2020). Net income: CA$6.60m (up 64% from 2Q 2020). Profit margin: 47% (up from 26% in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Mar 13
New 90-day high: CA$0.73 The company is up 7.0% from its price of CA$0.68 on 11 December 2020. The Canadian market is up 10.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Consumer Services industry, which is up 1.0% over the same period. Is New 90 Day High Low • Jan 30
New 90-day low: CA$0.58 The company is down 11% from its price of CA$0.65 on 30 October 2020. The Canadian market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Services industry, which is up 10.0% over the same period. Reported Earnings • Jan 17
First quarter 2021 earnings released: EPS CA$0.014 The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: CA$14.4m (down 16% from 1Q 2020). Net income: CA$1.05m (up CA$1.01m from 1Q 2020). Profit margin: 7.3% (up from 0.3% in 1Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Announcement • Jan 16
CIBT Education Group Inc. Elects Toby Chu as Director CIBT Education Group Inc. announced that Toby Chu was elected as Director at the annual general meeting held on January 15, 2021. Is New 90 Day High Low • Jan 15
New 90-day low: CA$0.63 The company is down 12% from its price of CA$0.72 on 16 October 2020. The Canadian market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Services industry, which is down 1.0% over the same period. Major Estimate Revision • Jan 09
Analysts update estimates The 2021 consensus revenue estimate was lowered from CA$66.4m to CA$61.5m. Earnings per share (EPS) increased from CA$0.06 to CA$0.08 for the same period. Net income is expected to grow by 301% next year compared to 40% growth forecast for the Consumer Services industry in Canada. The consensus price target was lowered from CA$1.21 to CA$1.17. Share price is down by 3.0% to CA$0.64 over the past week. Announcement • Dec 03
CIBT Education Group Inc.'s Education Mega Center Receives ADP Approval CIBT Education Group Inc. reported that one of its projects, GEC® Education Mega Center ("EMC") in Surrey, British Columbia has received conditional approval at the Advisory Design Panel public hearing on November 19th, 2020. Such approval is subject to the satisfaction of specific recommendations to enhance the design of EMC and complete other minor adjustments. None of the conditions are material. The planning department will schedule the first, second, and third council hearings following the ordinary course of the rezoning process. These hearings are expected to take place in early 2021. The Company is also pleased to learn of Surrey City Development Corp.'s urban redevelopment and expansion plan with Simon Fraser University announced on November 19th, 2020. Under the development plan, 1.5 million square feet of office, commercial and retail space will be built across the street from EMC, less than 30 metres away. As a result, a new centralized office hub will be established at the Surrey Central Station, which will employ roughly 10,000 people. The news is available at About GEC® Education Mega Center: GEC® Education Mega Center has been under the planning phase for nearly three years. The latest design is a 49 storey concrete structure, which stands 542 feet, making it one of the top ten tallest buildings in British Columbia when built. EMC will have six floors of mixed retail, commercial and offices for schools, technology companies and education-related services. Supported by two amenity floors, 27 floors of market rental apartments, and 14 floors of presale condos at the top section of the structure makes EMC a unique proposition for the urban population of young working professionals and students living at the city-centre of Surrey. Total gross buildable square footage is approximately 420,000 square feet with a construction budget of approximately $270 million. Analyst Estimate Surprise Post Earnings • Dec 02
Revenue and earnings miss expectations Revenue missed analyst estimates by 4.0%. Earnings per share (EPS) also missed analyst estimates by 50%. Over the next year, revenue is forecast to grow 6.1%, compared to a 31% growth forecast for the Consumer Services industry in Canada. Announcement • Dec 02
CIBT Education Group Inc. announced that it expects to receive CAD 7 million in funding CIBT Education Group Inc. (TSX:MBA) announced a private placement for gross proceeds of CAD 7,000,000 on December 1, 2020. The company will receive funding in two tranches.
On the same day the company received CAD 3,500,000 in its first tranche closing with the second tranche to close on or before May 31, 2021. Announcement • Nov 07
CIBT Education Group Inc., Annual General Meeting, Jan 15, 2021 CIBT Education Group Inc., Annual General Meeting, Jan 15, 2021. Is New 90 Day High Low • Oct 06
New 90-day high: CA$0.72 The company is up 57% from its price of CA$0.46 on 08 July 2020. The Canadian market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Services industry, which is up 24% over the same period. Announcement • Jul 17
CIBT Education Group Inc. to Report Q3, 2020 Results on Jul 14, 2020 CIBT Education Group Inc. announced that they will report Q3, 2020 results at 9:00 PM, GMT Standard Time on Jul 14, 2020 