much, Eilif. very you Thank
seasonal higher business. reminder, a a education As is
first The Peru, is a which for primary market, smaller Northern Southern Mexico, a the intake quarter and hemisphere hemisphere intake a cycle market. cycle for represents
as However, a the period, out it of of from most for low classes revenue is session standpoint. quarter seasonally are income a and
academic the our may a results. of due normal timing The and the the comparability during to on noted the and classes quarter the illustrated As skews last completed year-over-year intake This for XX. first classes you back calendar cycle, is to certain This started recall year, of on is chart Page year, the COVID-XX in were on second start pushed Peru quarter. difference XXXX. the pandemic,
through I quarter, the run highlights adjustments. timing As the those note will for I
the Mexico’s down the for the constant the of but for reason on with in quarter of results QX, $XX performance in-session year, intake $XXX was the increased of largely calendar, a September, comparable generated occur is that operating the revenue for will the Peru’s and that X% intake million. main Adjusting currency, by which quarter. was low Now, drove mix. EBITDA revenue million this Conversely, year-over-year approximately XX% thus intake from financial for result fact upside in represents for first and is by Mexico year-over-year shift from starting XX% mainly yet is results the academic affected being due period last session generated drove comparable the and performance, for weighting by to was Peru the and from Peru by basis, Mexico volume. a results million and of quarter. due X% revenue it and strong the a timing the due had up down Adjusted the quarter revenue was despite smaller as revenue from compared only EBITDA Peru, and the calendar impacted on due a first experience this approximately basis $XX XX% The of of around first COVID-XX which favorable On $XX Page seasonally its calendar first to quarter revenue of million. X% at in favorably to to in year. the was first million. XX shift, academic the which In quarter. shift, when revenue results $XX XXXX quarter to summary, is driven out Mexico enrollment million the volume prior up Adjusted $XX of the to versus in timing and was base the benefited expenses revenue
with that starting and some color Mexico Peru, provide versus note all are basis. prior Please the an organic now year Page and me Let constant XX. performance on currency on of additional comparisons
Let’s start Mexico. with
XX% quarter X% saw offerings offering. small result the intake, of combined shift versus a period. Mexico we QX a primary year. Total roughly online, face-to-face between and below Our total prior pandemic. for per year by overall intake cycle This online our which versus that represents less total prior typically was this reflected than completed from year. down traditional performance for occurred just intake, intake smaller programs between our enrollment fully With intake new its the the the trend the that the X% XX% with the with mix as last XX% shift have online down and face-to-face fall. enrollment a mix program a down enrollment showed accelerated fully as was enrollments been face-to-face similar revenue Revenue of overall, average the is lower results
benefiting basis, cost Adjusted flat efficiency essentially from actions. on comparable and a Finally, was EBITDA year-over-year
Let’s and XX. on intake completed Slide performance. now QX to Peru, on its other saw hand, primary robust in transition Peru the
by $XX premium a growth Total timing. session. XX% growth quarter Revenue the currency during adjusted increase, XX% New student enrollments XX% of value on when our in which constant the a for brand, intake. and their up was adjusted and basis, XX% to increased for driven Peru calendar year were summer adjusted between prior timing. increased when prior for academic of Revenue enrollment million versus year the for credit versus was mix up positive loads timing equates enrollments
the year-over-year in items, the of and Finally, start dates, impacted quarter resulted from of Adjusted shift for $XX $XX million EBITDA results XXXX. quarter intake increase the compares first approximately The favorably the EBITDA million. loss in class which strong of to an million $XX Adjusted timing including by enrollment
now briefly discuss me illustrated Let position sheet on Page our balance XX.
position March was $XXX shares As net and were million outstanding shares. our XXst, XXX debt total million, approximately of
an additional expected generate net billion operations the sales and $X.XX in Brazil Walden proceeds. Additionally, pending are of our University to in
guidance to move now starting Page XX. on Let’s
for we As Eilif XXXX noted and reaffirming our remarks, opening guidance his are in outlook XXXX.
enrollments million approximately estimated the billion of write-off $XXX XXXX, is to between non-cash of are in total be are operations period and billion, million. approximately $XXX and estimated students. prior note, XXX,XXX a this includes be $X an Please to EBITDA associated with continuing $XX indemnification related to to Adjusted estimated between $X.XX be acquisition. Revenues charges For and asset
driven enrollments are XXX,XXX million, students. billion, to be total and XXXX, Moving a $X.XX my Adjusted million. remarks, back by illustrated corporate closing and million $XXX EBITDA increase, is a $XX now in you This estimated be EBITDA that to on estimated in to approximately Eilif, be Page XX% continuing concludes million is year-over-year. G&A improvement operations XX. Adjusted increase reduction mostly in as This Revenues for $XX comments. operations, are approximately to $XX estimated now to or of represents
