EpicQuest Education Group International Ltd
For the period ended Mar 31, 2026. Filed Jun 25, 2026.
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Mar 31, 2026 · Filed Jun 25, 2026
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Contents
EX-99.2 · Operating Activities:
Operating Activities:
Net cash used in operating activities was US$4.1 million for the six months ended March 31, 2026, compared to net cash used in operating activities of US$2.3 million for the same period ended March 31, 2025, representing a US$1.8 million increase in the net cash outflow in operating activities. The increase in net cash outflow in operating activities was primarily due to the following:
| 1) | We had a net loss of US$3.2 million for the six months ended March 31, 2026. For the six months ended March 31, 2025, we had a net loss of US$0.2 million which led to a US$3 million increase in net cash outflow in operating activities. |
| 2) | Change in accounts receivable and other receivable generated US$0.8 million net cash inflow for the six months ended March 31, 2026. For the six months ended March 31, 2025, change in accounts receivable and other receivable used US$0.1 million cash outflow, which led to a US$0.9 million increase in net cash inflow from operating activities. |
| 3) | Change in prepaid expenses and long-term prepaids used US$0.9 million cash outflow for the six months ended March 31, 2026. For the six months ended March 31, 2025, change in prepaid expenses generated US$0.8 million cash inflow, which led to a US$1.7 million increase in net cash outflow from operating activities. |
| 4) | Change in accounts payable and accrued liabilities generated US$0.8 million net cash inflow for the six months ended March 31, 2026. For the six months ended March 31, 2025, change in accounts payable and accrued liabilities generated net cash inflow of US$1.2 million, which led to a US$0.4 million decrease in net cash inflow from operating activities. |
| 5) | Change in deferred revenue used US$3.8 million net cash outflow for the six months ended March 31, 2026. For the six months ended March 31, 2025, change in deferred revenue used net cash outflow of US$3.3 million, which led to a US$0.5 million increase in net cash outflow from operating activities. |
| 6) | Change in income tax receivable provided US$Nil net cash inflow for the six months ended March 31, 2026. For the six months ended March 31, 2025, the change was a net cash inflow of US$0.4 million, which led to a US$0.4 million decrease in net cash inflow from operating activities. |
| 7) | Change in non-cash items, including depreciation and amortization, gain/loss from disposal of fixed assets, gain from settlement of student-deposit refunds with Renda, deferred income taxes, impairment loss on football matches and stock-based compensation expenses, provided a total of US$2.2 million net cash inflow for the six months ended March 31, 2026. For the six months ended March 31, 2025, the change was a net cash outflow of US$1.1 million, which led to a US$3.3 million increase in net cash inflow in operating activities. |
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