{"id":3729,"date":"2021-12-12T08:00:00","date_gmt":"2021-12-12T08:00:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/3603625_CN03625_0"},"modified":"2021-12-12T08:00:00","modified_gmt":"2021-12-12T08:00:00","slug":"ryb-education-inc-reports-third-quarter-2021-financial-results","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=3729","title":{"rendered":"RYB Education, Inc. Reports Third Quarter 2021 Financial Results"},"content":{"rendered":"<div id=\"dvContent\" readability=\"284.46092184369\">\n<p><span class=\"xn-location\">BEIJING<\/span>, Dec. 12,&nbsp;2021 \/PRNewswire\/ &#8212;&nbsp;<b>RYB Education, Inc. <\/b>(&#8220;RYB&#8221; or the &#8220;Company&#8221;) (NYSE: RYB), a leading early childhood education service provider in <span class=\"xn-location\">China<\/span>, today announced its unaudited financial results for the third quarter of&nbsp;2021.<\/p>\n<p><b>Third <\/b><b>Quarter<\/b><b>&nbsp;<\/b><b>2021 Operational and Financial Summary <\/b><\/p>\n<ul type=\"disc\">\n<li>Number of students enrolled at directly operated facilities was 36,513 as of <span class=\"xn-chron\">September 30, 2021<\/span>, compared with 33,760 as of <span class=\"xn-chron\">September 30, 2020<\/span>. <\/li>\n<li>Net revenues were <span class=\"xn-money\">$42.8 million<\/span>, compared with <span class=\"xn-money\">$32.6 million<\/span> for the third quarter of 2020. <\/li>\n<li>Gross profit was <span class=\"xn-money\">$3.1 million<\/span>, compared with <span class=\"xn-money\">$2.0 million<\/span> for the third quarter of 2020. <\/li>\n<li>Net loss attributable to ordinary shareholders of RYB for the third quarter of 2021 was <span class=\"xn-money\">$2.2 million<\/span>, compared with <span class=\"xn-money\">$7.1 million<\/span> for the third quarter of 2020. Adjusted net loss attributable to ordinary shareholders<sup><span id=\"spanHghltf0d1\">[1]<\/span><\/sup> of RYB for the third quarter of 2021 was <span class=\"xn-money\">$1.8 million<\/span>, compared with <span class=\"xn-money\">$6.5 million<\/span> for the third quarter of 2020. <\/li>\n<li>Cash generated from operating activities was <span class=\"xn-money\">$7.3 million<\/span> in the third quarter of 2021, compared to <span class=\"xn-money\">$14.6 million<\/span> for the third quarter of 2020.<\/li>\n<\/ul>\n<p>&#8220;As China continues to carry out its reform in the education sector, private education will enter a new phase of development. RYB has long adhered to its original mission for preschool education and endeavored to contribute to the development of private education through providing high-quality products and services,&#8221; said Ms. Yanlai Shi, Co-founder, Director and Chief Executive Officer of RYB. &#8220;Over the years, we have committed to the healthy, sustainable and compliant development of preschool education, and have steadily followed the policy to expand access to inclusive preschool education in <span class=\"xn-location\">China<\/span>. For example, we not only managed to provide more inclusive kindergartens to society, but<span id=\"spanHghlt3e4e\">&nbsp;also<\/span> have been constantly improving the quality of our education services with curriculum upgrades, teacher training as well as security and safety measures enhancement.<\/p>\n<p>With respect to our strategic transformation, in the third quarter we continued to reinforce and explore the potential of our existing business while innovating and extending the scope of our business lines in several areas, including quality-oriented education (including art education), early-years childcare, teacher training (vocational training for preschool education), among other things, all aiming to capture market opportunities and foster new growth engines. As we leverage our competitive edge in existing distribution channels and gradually diversify our business lines, we are confident to strengthen our presence in all preschool education segments, thereby enabling the RYB&#8217;s long-term <span id=\"spanHghlt81b9\">healthy<\/span> growth.&#8221; concluded Ms. Shi.<\/p>\n<p><b>Third Quarter 2021 Financial Results<\/b><\/p>\n<p><b><i>Net Revenues<\/i><\/b><\/p>\n<p>Net revenues for the third quarter of 2021 were <span class=\"xn-money\">$42.8 million<\/span>, a 31.5% increase compared with <span class=\"xn-money\">$32.6 million<\/span> for the same quarter of 2020. <\/p>\n<p>Service revenues for the third quarter of 2021 were <span class=\"xn-money\">$40.0 million<\/span>, a 34.5% increase compared with <span class=\"xn-money\">$29.8 million<\/span> for the same quarter of 2020. The increase was mainly due to a significant increase in tuition fees revenue, thanks to a shorter facility closure&nbsp;<span id=\"spanHghlt8cd1\">period at the Company&#8217;s<\/span>&nbsp;directly operated kindergartens in <span class=\"xn-location\">China<\/span> during this quarter compared to the same quarter of <span id=\"spanHghlt7105\">2020<\/span>. The increase in the number of students enrolled at facilities in both <span class=\"xn-location\">China<\/span> and <span class=\"xn-location\">Singapore<\/span> also contributed to a higher tuition fees revenue.<\/p>\n<p>Product revenues for the third quarter of 2021 were <span class=\"xn-money\">$2.8 million<\/span>, compared with <span class=\"xn-money\">$2.8 million<\/span> for the same quarter of 2020. <\/p>\n<p><b><i>Cost of Revenues<\/i><\/b><\/p>\n<p>Cost of revenues for the third quarter of 2021 was <span class=\"xn-money\">$39.7 million<\/span>, a 30.2% increase from <span class=\"xn-money\">$30.5 million<\/span> for the same quarter of 2020. Cost of revenues for services for the third quarter of 2021 was <span class=\"xn-money\">$38.4 million<\/span>, compared with <span class=\"xn-money\">$29.2 million<\/span> for the same quarter of 2020. The increase was primarily due to the increase in staff compensation and direct cost at the Company&#8217;s directly operated facilities.&nbsp;Cost of products revenues for the third quarter of 2021 was <span class=\"xn-money\">$1.3 million<\/span>, compared with <span class=\"xn-money\">$1.4 million<\/span> for the same quarter of 2020. <\/p>\n<p><b><i>Gross Profit and Gross Margin<\/i><\/b><\/p>\n<p>Gross profit for the third quarter of 2021 were <span class=\"xn-money\">$3.1 million<\/span>, compared with <span class=\"xn-money\">$2.0 million<\/span> for the same quarter of 2020.<\/p>\n<p>Gross margin for the third quarter of 2021 was 7.2%, compared with 6.2% for the same quarter of 2020. <\/p>\n<p><b><i>Operating Expenses<\/i><\/b><\/p>\n<p>Total operating expenses for the third quarter of 2021 were <span class=\"xn-money\">$5.7 million<\/span>, compared with <span class=\"xn-money\">$5.5 million<\/span> for the same quarter of 2020. Excluding share-based compensation expenses, operating expenses were <span class=\"xn-money\">$5.3 million<\/span>, compared with <span class=\"xn-money\">$4.9 million<\/span> for the third quarter of 2020.<\/p>\n<p>Selling expenses for the third quarter of 2021 were <span class=\"xn-money\">$0.7 million<\/span>, compared with <span class=\"xn-money\">$0.5 million<\/span> for the same quarter of 2020.<\/p>\n<p>General and administrative (&#8220;G&amp;A&#8221;) expenses for the third quarter of 2021 were <span class=\"xn-money\">$5.0 million<\/span>, compared with <span class=\"xn-money\">$5.0 million<\/span> for the same quarter of 2020. Excluding share-based compensation expenses, G&amp;A expenses were <span class=\"xn-money\">$4.6 million<\/span> for the third quarter of 2021, compared with <span class=\"xn-money\">$4.4 million<\/span> for the same quarter of 2020. G&amp;A expenses excluding share-based compensation expenses and effect of exchange rate fluctuation were lower compared with the same quarter of 2020. The share-based compensation expenses included in G&amp;A expenses were <span class=\"xn-money\">$0.5 million<\/span> for the quarter.<\/p>\n<p><b><i>Operating loss<\/i><\/b><\/p>\n<p>Operating loss for the third quarter of 2021 was <span class=\"xn-money\">$2.7 million<\/span>, compared with <span class=\"xn-money\">$3.5 million<\/span> for the same quarter of 2020. Adjusted operating loss<span id=\"spanHghltd32f\"><sup>[2]<\/sup><\/span> was <span class=\"xn-money\">$2.2 million<\/span> for the third quarter of 2021, compared with <span class=\"xn-money\">$2.9 million<\/span> for the same quarter of 2020. <\/p>\n<p><b><i>Net loss<\/i><\/b><\/p>\n<p>Net loss attributable to ordinary shareholders&nbsp;of RYB for the third quarter of 2021 was <span class=\"xn-money\">$2.2 million<\/span>, compared with <span class=\"xn-money\">$7.1 million<\/span> for the same quarter of 2020. Adjusted net loss attributable to ordinary shareholders of RYB, which excluded the impact of <span class=\"xn-money\">$0.5 million<\/span> of share-based compensation expense for the third quarter of 2021, was <span class=\"xn-money\">$1.8million<\/span>, compared with <span class=\"xn-money\">$6.5 million<\/span> for the same quarter of 2020. <\/p>\n<p>Basic and diluted net loss per American depositary share (&#8220;ADS&#8221;) attributable to ordinary shareholders of RYB for the third quarter of 2021 were <span class=\"xn-money\">$0.08<\/span> and <span class=\"xn-money\">$0.08<\/span>, compared with <span class=\"xn-money\">$0.26<\/span> and <span class=\"xn-money\">$0.26<\/span>, respectively, for the same quarter of 2020. Each ADS represents one Class A ordinary share. <\/p>\n<p>Adjusted basic and diluted net loss per ADS attributable to ordinary shareholders<sup><span id=\"spanHghlt764c\">[3]<\/span><\/sup> of RYB for the third quarter of 2021 were <span class=\"xn-money\">$0.06<\/span> and <span class=\"xn-money\">$0.06<\/span>, compared with <span class=\"xn-money\">$0.23<\/span> and <span class=\"xn-money\">$0.23<\/span>, respectively, for the same quarter of 2020. <\/p>\n<p>EBITDA<sup><span id=\"spanHghlt315d\">[4]<\/span><\/sup> for the third quarter of 2021 was <span class=\"xn-money\">$0.6 million<\/span>, compared with <span class=\"xn-money\">$0.5 million<\/span> for the same period of 2020. Adjusted EBITDA<sup><span id=\"spanHghlt79d6\">[5]<\/span><\/sup> for the third quarter of 2021 was <span class=\"xn-money\">$1.0 million<\/span>, compared with <span class=\"xn-money\">$1.1 million<\/span> for the same quarter of 2020.<\/p>\n<p><b><i>Balance Sheet<\/i><\/b><\/p>\n<p>As of <span class=\"xn-chron\">September 30, 2021<\/span>, the Company had total cash and cash equivalents of <span class=\"xn-money\">$77.7 million<\/span>, compared with <span class=\"xn-money\">$53.5 million<\/span> as of <span class=\"xn-chron\">December 31, 2020<\/span>. The increase in cash and cash equivalents balances was mainly due to the operating cash inflow of <span class=\"xn-money\">$30.2 million<\/span> during the first nine months of 2021 as a result of tuition fee collection.<\/p>\n<p><b><i>Operating Cash Flow <\/i><\/b><\/p>\n<p>Cash generated from operating activities were <span class=\"xn-money\">$7.3 million<\/span> during the third quarter of 2021, compared with <span class=\"xn-money\">$14.6 million<\/span> from operating activities during the third quarter of 2020. <\/p>\n<p><b>Business Outlook<\/b><\/p>\n<p>For the fourth quarter of 2021, the Company&#8217;s management currently expects net revenues to be between <span class=\"xn-money\">$49.0 million<\/span> and <span class=\"xn-money\">$50.0 million<\/span>, representing a year-over-year increase of approximately 4% to 6%. The above outlook is based on the current market conditions and reflects the Company management&#8217;s current and preliminary estimates of market and operating conditions, customer demand and foreign exchange environment, which are all subject to change.<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tbody readability=\"15.5\">\n<tr readability=\"9\">\n<td class=\"prngen2\" readability=\"9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">[1] Adjusted net loss attributable to ordinary shareholders is a non-GAAP financial measure, which is defined as net loss attributable to ordinary shareholders excluding share-based compensation expenses and changes of redeemable non-controlling interests. See &#8220;Use of Non-GAAP Financial Measures&#8221; and &#8220;Reconciliations of GAAP and non-GAAP results&#8221; included elsewhere in this earnings release.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"7.5\">\n<td class=\"prngen2\" readability=\"8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">[2] Adjusted operating loss is a non-GAAP financial measure, which is defined as operating loss excluding share-based compensation expenses. See &#8220;Use of Non-GAAP Financial Measures&#8221; and &#8220;Reconciliations of GAAP and non-GAAP results&#8221; elsewhere in this earnings release.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"9\">\n<td class=\"prngen2\" readability=\"9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">[3] Adjusted basic and diluted net loss per ADS attributable to ordinary shareholders is a non-GAAP financial measure, which is defined as basic and diluted net loss per ADS attributable to ordinary shareholders excluding share-based compensation expenses. See &#8220;Use of Non-GAAP Financial Measures&#8221; and &#8220;Reconciliations of GAAP and non-GAAP results&#8221; elsewhere in this earnings release.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"7.5\">\n<td class=\"prngen2\" readability=\"8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">[4] EBITDA is defined as net income excluding depreciation, amortization and income tax expenses. See &#8220;Use of Non-GAAP Financial Measures&#8221; and &#8220;Reconciliations of GAAP and non-GAAP results&#8221; included elsewhere in this earnings release.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"13.5\">\n<td class=\"prngen2\" readability=\"12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">[5] Adjusted EBITDA is a non-GAAP financial measure, which is defined as net income excluding depreciation, amortization, income tax expenses, and share-based compensation expenses. See &#8220;Use of Non-GAAP Financial Measures&#8221; and &#8220;Reconciliations of GAAP and non-GAAP results&#8221; included elsewhere in this earnings release.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<p><b>About RYB Education, Inc.<\/b><\/p>\n<p>Founded on the core values of &#8221;Care&#8221; and &#8221;Responsibility,&#8221; &#8220;Inspire&#8221; and &#8220;Innovate,&#8221; RYB Education, Inc. is a leading early childhood education service provider in&nbsp;China. Since opening its first play-and-learn center in 1998, the Company has grown and flourished with the mission to provide high-quality, individualized and age-appropriate care and education to nurture and inspire each child for his or her betterment in life. During its two decades of operating history, the Company has built &#8220;RYB&#8221; into a well-recognized education brand and helped bring about many new educational practices in&nbsp;China&#8217;s&nbsp;early childhood education industry. RYB&#8217;s comprehensive early childhood education solutions meet the needs of children from infancy to 6 years old through structured courses at kindergartens and play-and-learn centers, as well as at-home educational products and services. <\/p>\n<p>For more information, please visit <a target=\"_blank\" href=\"http:\/\/ir.rybbaby.com\/\" rel=\"nofollow noopener\">http:\/\/ir.rybbaby.com<\/a><\/p>\n<p><b>Use of Non-GAAP Financial Measures<\/b><\/p>\n<p>We use EBITDA, adjusted EBITDA, adjusted operating income, adjusted net income, and adjusted basic and diluted net income per ADS, each a non-GAAP financial measure, in evaluating our operating results and for financial and operational decision-making purposes.<\/p>\n<p>EBITDA is defined as net income excluding depreciation, amortization, and income tax expenses; adjusted EBITDA is defined as net income excluding depreciation, amortization, income tax expenses, and share-based compensation expenses; adjusted operating income is defined as operating income excluding share-based compensation expenses; adjusted net income attributable to ordinary shareholders is defined as&nbsp; net income attributable to ordinary shareholders excluding share-based compensation expenses and changes of redeemable non-controlling interests; and adjusted basic and diluted net income per ADS attributable to ordinary shareholders are defined as basic and diluted net income per ADS attributable to ordinary shareholders excluding share-based compensation expenses and changes of redeemable non-controlling interests.<\/p>\n<p>We believe that EBITDA, adjusted EBITDA, adjusted operating income, adjusted net income, and adjusted basic and diluted net income per ADS, help identify underlying trends in our business that could otherwise be distorted by the effect of certain expenses that we include in income from operations and net income. We believe that EBITDA, adjusted EBITDA, adjusted operating income, adjusted net income, and adjusted basic and diluted net income per ADS, provide useful information about our operating results, enhance the overall understanding of our past performance and future prospects and allow for greater visibility with respect to key metrics used by our management in its financial and operational decision-making.<\/p>\n<p>EBITDA, adjusted EBITDA, adjusted operating income, adjusted net income, and adjusted basic and diluted net income per ADS, should not be considered in isolation or construed as an alternative to net income or any other measure of performance or as an indicator of our operating performance. Investors are encouraged to review the historical adjusted financial measures to the most directly comparable GAAP measures. EBITDA, adjusted EBITDA, adjusted operating income, adjusted net income, and adjusted basic and diluted net income per ADS, presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to our data. We encourage investors and others to review our financial information in its entirety and not rely on a single financial measure.<\/p>\n<p><b>Safe Harbor Statement<\/b><\/p>\n<p>This announcement contains forward-looking statements. These statements are made under the &#8220;safe harbor&#8221; provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as &#8220;will,&#8221; &#8220;expects,&#8221; &#8220;anticipates,&#8221; &#8220;future,&#8221; &#8220;intends,&#8221; &#8220;plans,&#8221; &#8220;believes,&#8221; &#8220;estimates,&#8221; &#8220;confident&#8221; and similar statements. Statements that are not historical facts, including statements about the Company&#8217;s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company&#8217;s brand recognition and market reputation; student enrollment in the Company&#8217;s teaching facilities; the Company&#8217;s growth strategies; its future business development, results of operations and financial condition; trends and competition in <span class=\"xn-location\">China&#8217;s<\/span> early childhood education market; changes in its revenues and certain cost or expense items; the expected growth of the Chinese early childhood education market; Chinese governmental policies relating to the Company&#8217;s industry and general economic conditions in <span class=\"xn-location\">China<\/span>. Further information regarding these and other risks is included in the Company&#8217;s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.<\/p>\n<p><b>For investor and media inquiries, please contact: <\/b><\/p>\n<p><b>In <span class=\"xn-location\">China<\/span>:<br \/><\/b>RYB Education, Inc.<br \/>Investor Relations<br \/>E-mail:&nbsp;<a target=\"_blank\" href=\"mailto:ir@rybbaby.com\" rel=\"nofollow noopener\">ir@rybbaby.com<\/a> <\/p>\n<p>The Piacente Group, Inc.<br \/><span class=\"xn-person\">Yang Song<\/span><br \/>Tel: +86 (10) 5730-6200<br \/>E-mail: <a target=\"_blank\" href=\"mailto:ryb@tpg-ir.com\" rel=\"nofollow noopener\">ryb@tpg-ir.com<\/a>&nbsp;&nbsp;<\/p>\n<p><b>In <span class=\"xn-location\">the United States<\/span>:<br \/><\/b>The Piacente Group, Inc.<br \/><span class=\"xn-person\">Brandi Piacente<\/span><br \/>Tel: +1-212-481-2050<br \/>E-mail: <a target=\"_blank\" href=\"mailto:ryb@tpg-ir.com\" rel=\"nofollow noopener\">ryb@tpg-ir.com<\/a> <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tbody readability=\"29\">\n<tr readability=\"3\">\n<td colspan=\"3\" class=\"prngen3\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><i>UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS<\/i><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td colspan=\"3\" class=\"prngen3\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><i>(in thousands of U.S. dollars)<\/i><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen4\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\"><\/td>\n<td colspan=\"2\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>As of<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prnsbt1 prnsbr1 prnvab prnsbb1 prntac prnpl6 prnsbl1 prnpr8\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>September 30, <\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2021<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prnsbts prnsbr1 prnvab prnsbbs prntac prnpl6 prnsbl1 prnpr6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>December 31,&nbsp;<br \/>2020<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Current assets:<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Cash and cash equivalents<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">77,746<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">53,454<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen2\" readability=\"6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Accounts receivable, net&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,271<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,844<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Inventories<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">6,501<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5,773<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Prepaid expenses and other current assets<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">8,927<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">8,927<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Loan receivables<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">160<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">107<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Total current assets&nbsp;<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>95,605<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>70,105<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Non-current assets:<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Restricted cash<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,318<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,127<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"6\">\n<td class=\"prngen2\" readability=\"7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Property, plant and equipment, net<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">42,667<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">47,638<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Goodwill&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">46,458<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">46,147<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Intangible assets, net<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">13,038<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">14,179<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Long-term investment<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">212<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">217<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Deferred tax assets<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">22,855<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">21,168<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Other non-current assets<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">12,102<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">14,438<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Operating lease right-of-use assets<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">74,058<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">87,472<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Total assets&nbsp;<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>308,313<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>302,491<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Liabilities&nbsp;<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Current liabilities:<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen2\" readability=\"6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Prepayments from customers, current portion<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5,761<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">4,145<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Accrued expenses and other current liabilities<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">58,847<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">54,406<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Income tax payable<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">20,340<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">18,592<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen2\" readability=\"6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Operating lease liabilities, current portion<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">14,971<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">16,856<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen2\" readability=\"6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Deferred revenue, current portion<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">45,881<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">34,351<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen2\" readability=\"6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Long-term debt, current portion<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">7<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Total current liabilities&nbsp;<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>145,800<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>128,357<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Non-current liabilities:<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen2\" readability=\"6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Prepayments from customers, non-current portion<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3,247<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">4,024<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen2\" readability=\"6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Deferred revenue, non-current portion<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">813<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,726<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Other non-current liabilities<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">11,904<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">12,519<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Deferred income tax liabilities<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,919<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,890<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen2\" readability=\"6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Operating lease liabilities, non-current portion<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">63,309<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">76,308<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Total liabilities&nbsp;<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>226,992<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>224,824<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen11\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Mezzanine equity<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Redeemable non-controlling interests&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">9,366<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">9,988<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Equity<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Ordinary shares&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">29<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">29<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Treasury stock<\/span><\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(9,042)<\/span><\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(10,321)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Additional paid-in capital<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">141,611<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">141,094<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Statutory reserve<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">4,652<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">4,652<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Accumulated other comprehensive loss<\/span><\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(1,541)<\/span><\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(1,468)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Accumulated deficit<\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(69,700)<\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(71,837)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen2\" readability=\"6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Total RYB Education, Inc. shareholders&#8217; equity<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>66,009<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>62,149<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Non-controlling interest<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5,946<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5,530<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Total equity<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>71,955<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>67,679<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen2\" readability=\"6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Total liabilities, mezzanine equity and total equity<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>308,313<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>302,491<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tbody readability=\"23.5\">\n<tr readability=\"3\">\n<td colspan=\"3\" class=\"prngen3\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><i>UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS<\/i><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"7.5\">\n<td colspan=\"3\" class=\"prngen3\" readability=\"8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><i>(in thousands of U.S. dollars, except share, ADS, per share and per ADS data)<\/i><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\"><\/td>\n<td colspan=\"2\" class=\"prngen4\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td rowspan=\"2\" class=\"prngen4\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Three Months Ended<\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>September 30,<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2021<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2020<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Net revenues:<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&nbsp;&nbsp; Services<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">40,016<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">29,755<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&nbsp;&nbsp; Products<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,794<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,797<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Total net revenues<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>42,810<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>32,552<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Cost of revenues:<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&nbsp;&nbsp; Services<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">38,409<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">29,150<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&nbsp;&nbsp; Products<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,331<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,383<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Total cost of revenues<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>39,740<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>30,533<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Gross profit<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>3,070<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2,019<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Operating expenses<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&nbsp; Selling expenses<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">692<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">513<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen2\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&nbsp; General and administrative expenses<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5,040<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5,027<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Total operating expenses<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>5,732<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>5,540<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Operating loss<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(2,662)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(3,521)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Interest income<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">47<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">102<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen2\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Government subsidy income<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">268<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,103<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen2\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Loss on disposal of subsidiaries<\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(28)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(168)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Loss before income taxes<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(2,375)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(2,484)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen2\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Less: Income tax expenses<\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(257)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3,725<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen2\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Loss before loss in equity method investments<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(2,118)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(6,209)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen2\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Loss from equity method investments<\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(12)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(128)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Net loss <\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(2,130)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(6,337)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen2\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Less: Net income attributable to non-controlling <br \/>interest<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">98<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">794<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td nowrap=\"nowrap\" class=\"prngen2\" readability=\"6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Net loss attributable to ordinary shareholders of <br \/>RYB Education, Inc.<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(2,228)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(7,131)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td nowrap=\"nowrap\" class=\"prngen2\" readability=\"6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Net loss per share attributable to ordinary <br \/>shareholders of RYB Education, Inc.<\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&nbsp; Basic<\/span><\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(0.08)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(0.26)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&nbsp; Diluted<\/span><\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(0.08)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(0.26)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td nowrap=\"nowrap\" class=\"prngen2\" readability=\"6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Net loss per ADS attributable to ordinary <br \/>shareholders of RYB Education, Inc. (Note 1)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&nbsp; Basic<\/span><\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(0.08)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(0.26)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&nbsp; Diluted<\/span><\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(0.08)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(0.26)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen2\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Weighted average shares used in calculating net loss <br \/>per ordinary share<\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&nbsp; Basic<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">28,467,242<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">27,736,777<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&nbsp; Diluted<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">28,467,242<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">27,736,777<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Net loss <\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(2,130)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(6,337)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td nowrap=\"nowrap\" class=\"prngen2\" readability=\"6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Other comprehensive loss, net of tax of nil:<\/span><\/p>\n<\/td>\n<td class=\"prngen4\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen2\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Change in cumulative foreign currency translation <br \/>adjustments<\/span><\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(168)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(360)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Total comprehensive loss <\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(2,298)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(6,697)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen2\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Less: Comprehensive loss attributable to non-<br \/>controlling interest<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">47<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,122<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td nowrap=\"nowrap\" class=\"prngen2\" readability=\"6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Comprehensive loss attributable to RYB <br \/>Education, Inc.<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(2,345)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(7,819)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen4\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td colspan=\"3\" class=\"prngen2\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Note 1\uff1aEach ADS represents one Class A ordinary share.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tbody readability=\"24\">\n<tr readability=\"3\">\n<td colspan=\"3\" class=\"prngen3\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><i>RECONCILIATION OF GAAP AND NON-GAAP RESULTS<\/i><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"7.5\">\n<td colspan=\"3\" class=\"prngen3\" readability=\"8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><i>(in thousands of U.S. dollars, except share, ADS, per share and per ADS data)<\/i><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\"><\/td>\n<td colspan=\"2\" class=\"prngen4\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td rowspan=\"2\" class=\"prngen4\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Three Months Ended<\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>September 30,<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2021<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2020<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Operating loss <\/span><\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(2,662)<\/span><\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(3,521)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Share-based compensation expenses<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">471<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">617<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Adjusted operating loss<\/span><\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(2,191)<\/span><\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(2,904)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen2\" readability=\"6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Net loss attributable to ordinary shareholders of RYB <br \/>Education, Inc.<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(2,228)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(7,131)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Share-based compensation expenses<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">471<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">617<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen2\" readability=\"6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Adjusted net loss attributable to ordinary shareholders <br \/>of RYB Education, Inc.<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(1,757)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(6,514)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Net loss<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(2,130)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(6,337)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Add: Income tax expense<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(257)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3,725<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"6\">\n<td class=\"prngen2\" readability=\"7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Depreciation of property, plant and equipment, and <br \/>amortization of intangible assets<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,939<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3,076<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">EBITDA<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">552<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">464<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Share-based compensation expenses<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">471<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">617<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Adjusted EBITDA<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,023<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,081<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen2\" readability=\"6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Net loss per ADS attributable to ordinary shareholders <br \/>of RYB Education, Inc.- Basic (Note1)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(0.08)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(0.26)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen2\" readability=\"6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Net loss per ADS attributable to ordinary shareholders <br \/>of RYB Education, Inc.- Diluted (Note1)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(0.08)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(0.26)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen2\" readability=\"6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Adjusted net loss per ADS attributable to ordinary <br \/>shareholders of RYB Education Inc.- Basic (Note1)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(0.06)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(0.23)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen2\" readability=\"6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Adjusted net loss per ADS attributable to ordinary <br \/>shareholders of RYB Education Inc.- Diluted (Note1)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(0.06)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(0.23)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Weighted average shares used in calculating basic net <br \/>loss per ADS (Note1)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">28,467,242<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">27,736,777<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Weighted average shares used in calculating diluted <br \/>net loss per ADS (Note1)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">28,467,242<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">27,736,777<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Adjusted net loss per share- Basic<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(0.06)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(0.23)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Adjusted net loss per share- Diluted<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(0.06)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(0.23)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<td class=\"prngen4\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td colspan=\"3\" class=\"prngen2\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Note 1\uff1aEach ADS represents one Class A ordinary share.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<p id=\"PURL\"><img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=CN03625&amp;sd=2021-12-12\"> View original content:<a id=\"PRNURL\" rel=\"nofollow noopener\" href=\"https:\/\/www.prnewswire.com\/news-releases\/ryb-education-inc-reports-third-quarter-2021-financial-results-301442679.html\" target=\"_blank\">https:\/\/www.prnewswire.com\/news-releases\/ryb-education-inc-reports-third-quarter-2021-financial-results-301442679.html<\/a><\/p>\n<\/p><\/div>\n<p>Source: RYB Education, Inc.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BEIJING, Dec. 12,&nbsp;2021 \/PRNewswire\/ &#8212;&nbsp;RYB Education, Inc. (&#8220;RYB&#8221; or the &#8220;Company&#8221;) (NYSE: RYB), a leading early childhood education service provider in China, today announced its unaudited financial results for the third quarter of&nbsp;2021. Third Quarter&nbsp;2021 Operational and Financial Summary Number of students enrolled at directly operated facilities was 36,513 as of September 30, 2021, compared [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":3730,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-3729","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>RYB Education, Inc. 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Third Quarter&nbsp;2021 Operational and Financial Summary Number of students enrolled at directly operated facilities was 36,513 as of September 30, 2021, compared [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/transmediavictoria.net.au\/?p=3729\" \/>\n<meta property=\"og:site_name\" content=\"My Blog\" \/>\n<meta property=\"article:published_time\" content=\"2021-12-12T08:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/transmediavictoria.net.au\/wp-content\/uploads\/2021\/12\/ryb-education-inc-reports-third-quarter-2021-financial-results.png\" \/>\n\t<meta property=\"og:image:width\" content=\"16\" \/>\n\t<meta property=\"og:image:height\" content=\"16\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"admin_tony\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin_tony\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"13 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/?p=3729#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/?p=3729\"},\"author\":{\"name\":\"admin_tony\",\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/#\\\/schema\\\/person\\\/5b51d407d652c0aa802bea269ea5d7e7\"},\"headline\":\"RYB Education, Inc. 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