Flex Class Revenues Up 85% to US $16.26 Million in Q4, Net Loss Widens to US $1 Million
Flex Class will list on the OTC Markets in the early next year and will raise US $25 million to expand further in the online education arena.
Newark, NJ, October 06, 2016 --(PR.com)-- Quarterly Result
Flex Class, the online education service provider has seen its fourth quarter revenues jumping 85% to US $16.26 million or Rs 110.62 crore. In the previous quarter, the company booked a revenue of approximately US $9 million or Rs 61.20 crore. The net loss widened to US $1 million to Rs 6.80 crore in this quarter which stood at US $527,000 or Rs 3.58 crore in the previous quarter.
Listing Plans
Flex Class is proposing to list on the OTC Markets, USA early next year and is eyeing a valuation of US $900 million or Rs 6,120 crore. The company will begin with the private placement of its shares early next year, once the company is listed.
Business
Flex Class is in the business of picking government as well as private orders in the emerging economies of Africa, Indonesia and India for setting up the online education infrastructure including the content distribution system. The company outsource the majority of its bagged business to its appointed partners.
Flex Class also introduced online MBA and will soon begin with the online education marketplace where the students can directly buy online courses from several universities through a single platform.
Margins
Flex Class operates on a wafer thin margin of 1.65%. The company plans to introduce its own courses which will result in margin enhancement to 14-15%.
Funding Plans
Flex Class plans to raise US $25 million for expansion and building its own content delivery systems. Flex Class will also introduce its services to over 7,000 schools by the end of 2017.
Flex Class, the online education service provider has seen its fourth quarter revenues jumping 85% to US $16.26 million or Rs 110.62 crore. In the previous quarter, the company booked a revenue of approximately US $9 million or Rs 61.20 crore. The net loss widened to US $1 million to Rs 6.80 crore in this quarter which stood at US $527,000 or Rs 3.58 crore in the previous quarter.
Listing Plans
Flex Class is proposing to list on the OTC Markets, USA early next year and is eyeing a valuation of US $900 million or Rs 6,120 crore. The company will begin with the private placement of its shares early next year, once the company is listed.
Business
Flex Class is in the business of picking government as well as private orders in the emerging economies of Africa, Indonesia and India for setting up the online education infrastructure including the content distribution system. The company outsource the majority of its bagged business to its appointed partners.
Flex Class also introduced online MBA and will soon begin with the online education marketplace where the students can directly buy online courses from several universities through a single platform.
Margins
Flex Class operates on a wafer thin margin of 1.65%. The company plans to introduce its own courses which will result in margin enhancement to 14-15%.
Funding Plans
Flex Class plans to raise US $25 million for expansion and building its own content delivery systems. Flex Class will also introduce its services to over 7,000 schools by the end of 2017.
Contact
Flex Class
Priya Gupta
703-727-8148
www.flexclass.org
Priya Gupta
703-727-8148
www.flexclass.org
Contact
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