Conservative Balance SheetLow leverage and a near-50% equity ratio provide structural financial strength. This conservative capital structure reduces default and refinancing risk, preserves borrowing capacity for strategic investment, and supports resilience through enrollment cycles over the next 2–6 months.
Improved Operating Cash GenerationA turnaround to positive operating cash flow and strong cash conversion indicates higher earnings quality. Durable OCF improvement enhances liquidity for operations and reinvestment, lowering dependence on external funding and enabling steadier execution of medium-term strategy.
Improving Profitability MetricsRecovery in net margin and rising ROE reflect better expense control and incremental return on shareholder capital. Sustained margin improvement supports internal funding, strengthens cash flow prospects, and indicates management can restore profitability over a multi-quarter horizon.