Ambow Education Holding Ltd.

Corporate structure and listing

• Cayman Islands holding company. Operations are conducted primarily through U.S. subsidiaries; the company exited China in 2022.
• Publicly traded ADSs on the NYSE American under the symbol AMBO since 2018.

Business activities

• Develops and delivers AI-powered phygital education and collaboration solutions through the HybriU platform and related services.
• Primary U.S. educational operations are conducted through NewSchool of Architecture & Design (San Diego, California). Bay State College (Massachusetts) was permanently closed in 2023.
• HybriU combines software and hardware to bridge online and offline experiences for education, corporate conferencing, and live events. Target customers include universities, enterprises, and event organizers.

HybriU product family (introduced and expanded 2023–2025)

• HybriU Education — AI + 3D hardware/software for synchronized phygital classrooms
• HybriU Conference — AI-enabled hybrid corporate conferencing
• HybriU Events — immersive phygital event experiences
• HybriU Knowledge Capture — enterprise knowledge retention
• HybriU 3D Mobile Station — mobile 3D production platform
• WeSpeak — real-time language translation; device-agnostic
• HybriU Adaptive Teach — adaptive instruction for hybrid classes
• HybriU Global Learning Network (HGLN) — supports U.S. universities expanding international enrollment

Recent developments (2024–2025)

• June 2024 licensing agreement with Inspiring Futures Pte. Ltd. (Singapore) for HybriU AI UniBox and international commercialization; value approximately $1.3 million annually (renewable).
• 2025 expansion of HybriU offerings to include HybriU Conferencing, HybriU Events, HybriU Knowledge Capture, HybriU 3D Mobile Station, continued WeSpeak, and ongoing Global Learning Network efforts.

Products and competitive positioning

• HybriU provides an integrated AI + hardware solution designed for real-time interaction between in-person and remote participants within a single classroom or event ecosystem.
• Markets served: higher education (NewSchool and partners), enterprise/corporate conferencing, and large live events.
• Emphasis on AI-enabled analytics, real-time translation, multi-site synchronization, and scalable plug-and-play deployment, including integration with existing platforms.

Financials and customer-related highlights

• Consolidated net revenues: 2025 — $9.5 million; 2024 — $9.4 million.
• NewSchool’s Title IV federal student aid-derived revenue: approximately 40.6% of NewSchool’s revenues in 2025.
• 2024 reported 69.68% cash-basis revenue from Title IV funds; management expects compliance with the 90/10 target.
• 2025 licensing agreement with Inspiring Futures (Singapore) for HybriU UniBox and international commercialization (~$1.3 million annual license).

Employees and cost structure (as of December 31, 2025)

• Total employees: 41 full-time; 119 part-time.
• Full-time by function:
  • Sales and marketing: 9
  • General and administrative: 5
  • Research and development: 3
  • Cost of revenues: 24
• Share-based compensation expense: $0.2 million in 2025.

Principal campus and corporate facilities

• U.S. headquarters and office space in California: 12,500 square feet leased (May 2025–April 2028).
• College campus space in San Diego: 44,544 square feet leased (April 1, 2025–January 31, 2031) with a five-year renewal option.
• Lease terms are detailed in the company’s financial statement disclosures.

History and strategic milestones

• 2000: Founded by Dr. Jin Huang.
• 2017–2018: Expansion to the U.S.; Ambow BSC Inc. acquired Bay State College; June 2018 ADS offering and NYSE American listing (AMBO).
• 2019–2020: Established Ambow NSAD Inc.; acquired NewSchool (San Diego).
• 2022: Sale of Ambow China interests.
• 2023: Issuance of ADSs and warrants; Bay State College operations wound down and closure completed August 2023.
• 2024–2025: Launch and expansion of the HybriU product family and licensing agreement with Inspiring Futures; continued international expansion efforts via the HybriU network.

Regulatory and Title IV context

• NewSchool participates in Title IV programs. Compliance with federal and state requirements is required to maintain eligibility.
• The 90/10 rule and other Department of Education requirements affect revenue composition, required financial reserves, and potential sanctions for noncompliance.
• The business depends on continued access to Title IV funds and regulatory approvals for operation across states and for new programs.

Current business focus

• Ambow operates as a holding company whose core growth driver is HybriU, an AI-powered, integrated phygital platform for education, conferencing, and live events, supported by its U.S. higher-education presence, including NewSchool, and strategic licensing partnerships.
• Performance is reported through consolidated net revenues and resource deployment across operating units, with a material reliance on Title IV-related funding through NewSchool.