Latest from education stocks in Australia- IEL, JAN and 8VI

Highlights

• Technological advancements have helped in exponential growth and expansion for various ASX-listed education stocks.
• Several companies in the EdTech space have been advancing well and remain optimistic for further growth.
• Various ASX-listed stocks are implementing initiatives to develop innovative education solutions for people on a global level.

The emergence of the COVID-19 pandemic expedited the rate of digitalisation across economies and presented opportunities for businesses in the EdTech space. There has been staggering growth in the deployment of technologies, and businesses have witnessed significant structural and operational shifts.

The quick adoption of novel technological advancements like cloud-based services and artificial intelligence are helping businesses navigate through challenges in the dynamic business environment.

Various ASX-listed stocks have witnessed transformation across businesses with the development of new and innovative education solutions for people on a global level. Businesses are reporting strong numbers and are now looking to expand further through continued product innovation as well as partnerships.

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Let us look at the recent developments from three ASX education stocks.

IEL appoints CEO & MD

IDP Education Limited (ASX:IEL) is a leading global education services provider with a presence across more than 50 countries. The company brings together human expertise with a leading digital platform to support people in pursuing their course of choice.

In the latest development, IEL has appointed Tennealle O’Shannessy as CEO and Managing Director, who has a history of building successful digital businesses with a customer-centric approach. IEL believes that the expertise of Ms O’Shannessy is in line with the ambitious strategy of the company to transform the global education space.

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Over the years, IEL has strategically evolved from an analogue to an omnichannel business and looks to develop pivotal services for the industry using its scale and trusted human connections. IEL has built a digital platform that overlays the physical network with a digital footprint, which ensures a connection across the student journey.

IEL is leveraging its digital platform and data science capabilities and aims to become a global marketplace that transforms the industry.

IEL stock last traded at AU$27.870 on 19 August 2022.

Janison Education reports growth across business units

Janison Education Group Limited (ASX:JAN) is an Australia-owned EdTech pioneer, which is engaged in utilising technology to transform the education industry. JAN’s business units include Janison Assessments, Janison Solutions & PBTS and offer award-winning education delivery solutions.

Recently, JAN has reported growth across all strategic business units during the FY22 ended 30 June 2022 and now expects continued growth across the company in FY23. JAN reported a 20% growth in its reported revenue for FY22 as compared to the prior year.

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The company also concluded multiple enhancement programs in FY22 and has significantly reset its cost base and operating structure. The company looks to enter FY23 with a nimbler organisation and anticipates remaining cashflow positive throughout the upcoming period while being confident about its leading position in the market.

JAN stock last traded at AU$0.425 on 19 August 2022.

8VI Holdings continues strong momentum

FinEduTech company 8VI Holdings Limited (ASX:8VI) functions under the brand name VI and has numerous offices across the Asia Pacific region.

Throughout FY2020/2021, the peak of the COVID-19 pandemic, 8VI witnessed exponential growth in its VI App subscriber base as well as VI College graduate base. 8VI continued this strong momentum and has further invested heavily in multiple projects and initiatives in FY2022. 8VI posted revenue of AU$31.4 million in FY2022, indicating an increase of 21% over FY2021.

Recently, 8VI inked a deal to acquire a 9.6% stake in GUGU Fintech Inc., which is a Taiwan-based Fintech company. 8VI believes that the transaction shall support possible close collaboration between 8VI and GUGU to increase the company’s operation across Taiwan.

Besides this, the company also anticipates bolstering its acquisition initiatives in Taiwan and expanding its client base for new revenue streams.

8VI stock last traded at AU$1.300 on 19 August 2022.