TAL Education Group (NYSE:TAL) delivered another quarter of robust growth, signaling a successful transformation from a traditional tutoring giant into a technology-focused learning provider.
For the fiscal third quarter ended Nov. 30, 2025, the Beijing-based company reported net revenue of $770.2 million, a 27% increase over the same period last year.
Gross margins improved to 56.1%, driven by the high-margin performance of its "smart learning" solutions and content segments.
The company’s bottom line also showed significant strength, with net income attributable to TAL reaching $130.6 million.
The results highlight the company's ability to navigate China’s evolving educational landscape by prioritizing non-academic enrichment and AI-integrated hardware, such as its MathGPT-powered devices.
Deferred revenue—a key indicator of future sales—rose to $1.16 billion, suggesting sustained demand heading into the 2026 spring semester.
Bolstered by a formidable cash pile of $3.62 billion, TAL is aggressively returning value to shareholders.
The board has authorized a new $600 million share repurchase program, of which $27.7 million has already been executed.