Top Education Group Ltd reported interim results for the six months ended 31 December 2025 (H1 FY26) showing steady top-line expansion and margin improvement despite softer other income.

Revenue Performance • Total revenue increased 6.5% year-on-year to AUD 17.06 million, driven by a 7.1% rise in course fee income to AUD 16.03 million, which accounted for 94% of total revenue. • Other service fees slipped 1.6% to AUD 1.03 million.

Profitability • Cost of revenue rose 2.7% to AUD 9.65 million; gross profit grew 11.8% to AUD 7.40 million, lifting gross margin to 43.4% (H1 FY25: 41.3%). • Other income declined 33.2% to AUD 1.07 million, mainly on lower interest income. • Administrative expenses and advertising & marketing each edged up 1.0% to AUD 4.40 million and AUD 1.36 million respectively, while finance costs fell 16.6% to AUD 0.31 million. • Net profit increased 12.4% to AUD 1.75 million; basic earnings per share improved to 0.082 AUD cents (H1 FY25: 0.066 AUD cents).

Balance Sheet and Cash Flow • Cash and cash equivalents stood at AUD 50.26 million, up from AUD 49.06 million at 30 June 2025. • The Group remains debt-free, maintaining a 0% gearing ratio. • Operating cash inflow reached AUD 8.49 million; capital expenditure totalled AUD 0.50 million.

Capital Management • Completed buy-back and cancellation of 264.71 million shares (10.86% of issued shares) for HK$11.24 million; associated costs were AUD 0.47 million. • No interim dividend was declared.

Operational Highlights • Secured seven-year TEQSA re-registration with no conditions and expanded CRICOS capacity to 3,000 students, marking 17 consecutive years of unconditional registration. • Continued curriculum renewal in accounting and MBA suites; postgraduate research enrolments gained traction with the Master of Business Research. • Group headcount rose to 137 (H1 FY25: 123) to support academic expansion.

Outlook Management will prioritise regulatory compliance, programme renewal, research capacity and transnational partnerships to support measured growth in the evolving Australian higher-education market.