Ambow Education Holding (AMBO) has released an update.
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Ambow Education Holding Ltd. reveals a significant financial turnaround in its 2023 fiscal year, with a momentous 50% gross margin in Q4 and the successful deployment of its AI-driven hybrid learning solution, HybriU. Despite a decrease in net revenues due to the closure of Bay State College, the company has shown improved financial performance with a net income of $1.3 million in Q4 2023, compared to a loss in the previous year. Looking forward, Ambow anticipates profitability in 2024, driven by aggressive market penetration of HybriU and ongoing cost management.
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