Yduqs Sustains Strong Growth Momentum in Q3 2023
Yduqs achieved or exceeded intake guidance, reporting growth for revenue (14%), adjusted EBITDA (14%), and adjusted net income (83%) for the quarter
Rio de Janeiro, November 13th, 2023 – Yduqs has reported another quarter of solid progression in its core business metrics, including net revenue, EBITDA and net income for the period, among other gains. With a strong enrollment cycle, bringing in over 160,000 new students across digital (+26% versus 3Q22) and on-campus courses (+32%), and increases in the average ticket across all segments, the company saw an expansion in net revenue (+14%), adjusted EBITDA (+14%), and adjusted net income (+83%) compared to the third quarter of 2022. Leverage Ratio decreased, with a Net Debt/EBITDA ratio of 1.53x at the quarter's end, indicating the firm's financial health.
"Our strategy's consistency and the results it yields are evident with each cycle," states Eduardo Parente, CEO of Yduqs. "Our diversified portfolio coupled with our discipline lead to strong operational leverage and consistent EBITDA growth. We have good expectations for this final quarter, which will cap off a year of high-quality growth for Yduqs."
2023 YTD Results - Over the first nine months, net revenue grew by 13% compared to the same period last year. Digital learning and premium segments saw, respectively, 25% and 18% increases in Net Operating Revenue (NOR), and in the digital segment, EBITDA margin significantly rose, hitting 42% for 9M23. These two sectors now account for 58% of Yduqs' total NOR and 73% of its total EBITDA, which reached R$ 1.37 billion in 9M23 (+20% compared to 9M22). In this nine-month view, operating cash flow was R$ 998 million (+39% versus 9M22) and adjusted net income was R$ 331 million (+124%). The company had already announced the distribution of dividends for 2023, continuing the historical series begun with its IPO in 2007, at the amount of R$ 80 million, to be paid in December.
Access the Results Center here for all information about the Q3 2023 results release.
ESG – On October 25th, Yduqs was granted an ESG rating upgrade to 'AA' by MSCI Ratings, making it the only education group in Latin America to reach this status, and the sole higher education organization globally. Find all the details here.