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MYND on NYSE

RYB Education

Chinese preschool education company

RYB Education (Chinese: 红黄蓝教育; NYSE: RYB) is a publicly listed company for preschool education in the People's Republic of China. As measured by annual total revenues in 2016, the company is the largest provider of early childhood education service in China. It owns three preschool-educational brands, namely RYB Parent-Child Garden, RYB Kindergarten, and Zhudou Parenting App-kit Club, and has strategic cooperation with some American preschool education institutes.3 Its shares trade on NYSE under the symbol MYND.1 Wikipedia text CC BY-SA 4.0

Price unavailable

Last updated Oct 21, 2026.

Overview

$167.9MRevenue, fiscal 20255
-$54.1MNet income, fiscal 20255
1998Founded1

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  • TickerMYND on NYSE1
  • Industryeducational system1
  • HeadquartersBeijing1
  • Websitewww.rybbaby.com
  • Incorporated inCayman Islands6
  • Business address4550 North Point Parkway, Suite 370, Alpharetta, Ga 300226
  • Filer categoryNon-accelerated filer6
  • Legal formOther4
  • LEI5493008D9KDCA2T7DN674
  • StatusActive4
  • LEI statusLapsed (not renewed)4
  • Registered addressC/O Offshore Incorporations (Cayman) Limited, KY1-9008 George Town, Cayman Islands4

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RYB Education (Chinese: 红黄蓝教育; NYSE: RYB) is a publicly listed company for preschool education in the People's Republic of China. As measured by annual total revenues in 2016, the company is the largest provider of early childhood education service in China. It owns three preschool-educational brands, namely RYB Parent-Child Garden, RYB Kindergarten, and Zhudou Parenting App-kit Club, and has strategic cooperation with some American preschool education institutes. The firm is listed on the New York Stock Exchange. The company was registered in the Cayman Islands, and its headquarter is in Beijing.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

21.0%Gross margin5
-29.8%Operating margin5
-32.2%Net margin5
-37.2%Revenue growth, 20255
-$45.6MFree cash flow5

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Hardware And Accessories brought in 93% of the revenue RYB Education broke down this way in fiscal 2025.

  1. Hardware And Accessories$155.9M593%down 37% from 2024
  2. Service$7.4M54%up 1% from 2024
  3. SaaS$4.6M53%down 3% from 2024
Products and services by year
Products and services202320242025
Hardware And Accessories$394.7M$245.6M$155.9M
Service$9.0M$7.4M$7.4M
SaaS$5.4M$4.8M$4.6M

Regions

United States brought in 64% of the revenue RYB Education broke down this way in fiscal 2025.

  1. United States$107.5M564%down 40% from 2024
  2. Outside the United States$60.4M536%down 31% from 2024
Regions by year
Regions202320242025
United States$292.6M$179.8M$107.5M
Outside the United States$119.2M$87.6M$60.4M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue79¢$132.6M
  • Research and development8¢$12.8M
  • Other costs13¢$22.1M
  • Income tax0¢$384.0K

Out of $167.9M in revenue.5 The company lost money this year.

Financial statements

Revenue891011125$167.9M in 2025+7% since 2018
0$200.0M$400.0M$600.0M2018: $156.5M$156.5M20182019: $182.3M$182.3M2019+16%2020: $42.4M$42.4M2020−77%2021: $448.2M$448.2M2021+956%2022: $584.7M$584.7M2022+30%2023: $411.8M$411.8M2023−30%2024: $267.4M$267.4M2024−35%2025: $167.9M$167.9M2025−37%
Gross profit891011125$35.3M in 2025+38% since 2018
-$50.0M0$50.0M$100.0M$150.0M2018: $25.6M$25.6M20182019: $26.7M$26.7M2019+4%2020: -$1.0M-$1.0M20202021: $139.0M$139.0M20212022: $141.1M$141.1M2022+2%2023: $100.5M$100.5M2023−29%2024: $66.2M$66.2M2024−34%2025: $35.3M$35.3M2025−47%
Operating income891011125-$50.1M in 2025+1555% since 2018
-$60.0M-$40.0M-$20.0M0$20.0M2018: -$3.0M-$3.0M20182019: $166.0K$166.0K20192020: -$29.7M-$29.7M20202021: $11.1M$11.1M20212022: $3.4M$3.4M2022−69%2023: -$46.0M-$46.0M20232024: -$38.0M-$38.0M2024−17%2025: -$50.1M-$50.1M2025+32%
Net income891011125-$54.1M in 2025+3057% since 2018
-$100.0M-$50.0M0$50.0M2018: -$1.7M-$1.7M20182019: -$2.2M-$2.2M2019+28%2020: -$41.2M-$41.2M2020+1781%2021: -$1.1M-$1.1M2021−97%2022: $20.5M$20.5M20222023: -$39.4M-$39.4M20232024: -$95.7M-$95.7M2024+143%2025: -$54.1M-$54.1M2025−44%

Every line of the income statement as filed: the last 3 fiscal years, latest first.5

Period ending2025-12-312024-12-312023-12-31
Revenue$167.9M$267.4M$411.8M
Cost of revenue$132.6M$201.1M$311.3M
Gross profit$35.3M$66.2M$100.5M
General and administrative$26.5M$33.4M$31.0M
Research and development$12.8M$25.3M$34.6M
Sales and marketing$38.9M$42.1M$51.5M
Transaction-related costs$304.0K$0$19.3M
Restructuring and other expenses$6.8M$3.5M$10.2M
Total operating expenses$85.4M$104.3M$146.5M
Operating loss-$50.1M-$38.0M-$46.0M
Interest expense-$10.1M-$10.4M-$4.7M
Interest income$827.0K$2.7M$223.0K
Gain on embedded derivative$2.8M$11.4M$432.0K
Other income (expense)$2.1M-$1.4M$1.6M
Total other (expense) income-$4.4M$2.3M-$2.4M
Net loss from continuing operations, before income taxes-$54.5M-$35.7M-$48.4M
Income tax benefit (expense)$384.0K-$68.7M$9.7M
Net loss from continuing operations-$54.1M-$104.5M-$38.8M
Income (loss) from discontinued operations, net of tax$0$8.7M-$605.0K
Net loss-$54.1M-$95.8M-$39.4M
Net (loss) income from discontinued operations attributable to non-controlling interests$0-$33.0K$33.0K
Net (loss) income attributable to non-controlling interests$0-$33.0K$33.0K
Net loss from continuing operations attributable to ordinary shareholders-$54.1M-$104.5M-$38.8M
Net income (loss) from discontinued operations attributable to ordinary shareholders$0$8.8M-$638.0K
Net loss attributable to ordinary shareholders-$54.1M-$95.7M-$39.4M
Net (loss) income per share attributable to ordinary shareholders of Mynd.ai, Inc. from continuing operations - basic (in dollars per share)-$0-$0-$0
Net (loss) income per share attributable to ordinary shareholders of Mynd.ai, Inc. from continuing operations - diluted (in dollars per share)-$0-$0-$0
Net (loss) per share attributable to ordinary shareholders of Mynd.ai, Inc. from discontinued operations - basic (in dollars per share)$0$0$0
Net (loss) per share attributable to ordinary shareholders of Mynd.ai, Inc. from discontinued operations - diluted (in dollars per share)$0$0$0
Net (loss) income per share attributable to ordinary shareholders of Mynd.ai, Inc. - basic (in dollars per share)-$0.12-$0.21-$0.09
Net (loss) income per share attributable to ordinary shareholders of Mynd.ai, Inc. - diluted (in dollars per share)-$0.12-$0.21-$0.09
Weighted average shares outstanding used in calculating net (loss) income per share attributable to ordinary shareholders of Mynd.ai, Inc. - basic (in shares)456.8M shares456.5M shares428.0M shares
Weighted average shares outstanding used in calculating net (loss) income per share attributable to ordinary shareholders of Mynd.ai, Inc. - diluted (in shares)456.8M shares456.5M shares428.0M shares

Compare RYB Education with another company

Corporate structure

RYB Education sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of RYB Education

  • Chimin Cao Filed SC 13G/A on RYB Education, latest Feb 6, 2024 (3 filings since Feb 10, 2022)
  • Yanlai Shi Filed SC 13G/A on RYB Education, latest Feb 6, 2024 (3 filings since Feb 10, 2022)
  • NetDragon Websoft Holdings Ltd Filed SC 13D on RYB Education, latest Dec 22, 2023
  • RYB Education George Town, Cayman Islands

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What RYB Education reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$32.2M5 Dec 31, 2025$35.6M5 Dec 31, 2024−9.6%
Accumulated depreciation$20.4M5 Dec 31, 2025$21.0M5 Dec 31, 2024−2.9%
Property and equipment, net$11.8M5 Dec 31, 2025$14.6M5 Dec 31, 2024−19.4%
Operating-lease assets (leased space)$2.1M5 Dec 31, 2025$3.4M5 Dec 31, 2024−39.9%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$18.5M5 Dec 31, 2025$75.3M5 Dec 31, 2024−75.5%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$45.0M5 Dec 31, 2025$44.1M5 Dec 31, 2024+1.9%
Intangible assets, net (excluding goodwill)$36.2M5 Dec 31, 2025$39.5M5 Dec 31, 2024−8.4%
Finite-lived intangibles, gross$48.5M5 Dec 31, 2024$48.5M12 Dec 31, 20230%
Accumulated amortization$44.9M5 Dec 31, 2024$40.8M12 Dec 31, 2023+10.2%
Finite-lived intangibles, net$3.5M5 Dec 31, 2024$7.7M12 Dec 31, 2023−54.3%

Inventory

ItemLatestA year beforeChange
Inventory, total$29.7M5 Dec 31, 2025$28.6M5 Dec 31, 2024+3.8%
Raw materials$012 Dec 31, 2024$814.0K12 Dec 31, 2023−100.0%
Finished goods$28.6M12 Dec 31, 2024$53.1M12 Dec 31, 2023−46.1%

The story

RYB Education was founded by Cao Chimin (曹赤民) and Shi Yanlai (史燕来) in 1998.

Shi Yanlai was a student in Peking University. She and Cao Chimin both obtained master's degree from Australian National University and Tsinghua University.

At the beginning, RYB Parent-Child Garden invited Liang Zhiyan (梁志焱) from Beijing Normal University to establish a teaching and research centre, and they developed some preschool courses. By the end of 1999, their first parent-child courses were started,. followed by courses aiming at various ages. In 2000, RYB Education obtained a licence for the education of 0-6-year-old kids from the education bureau. After three years, RYB Parent-Child Garden started to have direct educational institutes,.

In the year 2001, 38 shareholders of RYB Education established Beijing RYB Education Inc, and Shi Yanlai was appointed chairperson of the board of directors. In the same year, franchising started to be allowed.

RYB Education started trading on the New York Stock Exchange on 27 September 2017. Its documentation for the U.S. Securities and Exchange Commission showed the shareholding status: Ascendent Rainbow (Cayman) Limited was the principal shareholder, with 30.1 percent of the shares;. Cao Chimin, was second, with 23.6 percent, and Shi Yanla third, with 13.5 percent.

From Wikipedia’s article on RYB Education, shared under CC BY-SA 4.0.7

Leadership

Who has led RYB Education, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Arthur G. Giterman2026–now

Chief financial officer

  1. Arthur G. Giterman2026–now
200020052010201520202025
Board members and other officers (8)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive OfficerMatthew Cole named Dec 22, 202322
  • Executive OfficerPaul Heffernan named Dec 22, 202322
  • Executive Officer, DirectorVincent Riera named Dec 22, 202322
  • DirectorJoel Getz named Dec 22, 202322
  • DirectorJohn Quelch named Dec 22, 202322
  • DirectorSimon Leung named Dec 22, 202322
  • DirectorTarek Shawki named Dec 22, 202322

Former names

  • Gravitas Education Holdings, Inc.Jul 26, 2022 to Dec 13, 20236
  • RYB Education, Inc.Jun 22, 2017 to May 24, 20226

Timeline

  1. Mar 18, 2026New chief executive Arthur G. Giterman becomes CEO14
  2. Sep 27, 2017Went public Listed on NYSE1
  3. 1998Founded Founded1

Filings

112 filings to the SEC since October 2021: 5 annual reports, 30 insider forms, 7 large holders, 1 private raises, 69 other. The latest 20:

  1. Oct 13, 20264 EDGAR
  2. Oct 13, 20264 EDGAR
  3. Oct 13, 20264 EDGAR
  4. Oct 13, 20264 EDGAR
  5. Oct 9, 20266-K/A EDGAR
  6. Oct 8, 20266-K EDGAR
  7. Aug 27, 20266-K EDGAR
  8. Aug 27, 20266-K EDGAR
  9. Aug 17, 20266-K EDGAR
  10. Jul 14, 20264 EDGAR
  11. Jul 14, 20264 EDGAR
  12. Jul 14, 20264 EDGAR
  13. Jul 14, 20264 EDGAR
  14. Jul 7, 20264 EDGAR
  15. Jul 7, 20264 EDGAR
  16. Jul 7, 20264 EDGAR
  17. Jul 7, 20264 EDGAR
  18. Jul 7, 20264 EDGAR
  19. Jul 7, 20264 EDGAR
  20. Jul 7, 20264 EDGAR

The 112 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Dec 13, 2023Raised $42.2 million in a private offering of equity Form D: 24 investors so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Cable Car Capital, LP118,975$45.6K0.0%No change
Two Sigma Securities, LLC36,873$14.1K0.0%+21,843
Renaissance Technologies LLC15,844$6.1K0.0%−400
UBS Group AG6,615$2.5K0.0%+5,858
Citigroup Inc6,504$2.5K0.0%+3,759
Morgan Stanley280$1070.0%No change
Hrt Financial LP77,025$290.0%New
Cambridge Investment Research Advisors, Inc.60,000$220.0%+30,000
Virtu Financial LLC24,950$100.0%New

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How RYB Education is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARMynd.ai, Inc.2
  • CIK0001708441
  • Filer statusNon-accelerated filer not an emerging growth company; not a shell company26
  • Incorporated inCayman Islands26
  • Fiscal year endsDecember 312
  • Industry code (SIC)3577 Computer Peripheral Equipment, NEC2
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance2
  • Business address4550 North Point Parkway, Suite 370, Alpharetta, GA 300222
  • Phone888-652-28482
  • Shares outstanding462,192,400 shares as of Dec 31, 202526
  • AuditorDELOITTE & TOUCHE LLP, Seattle, Washington PCAOB ID 34; no auditor attestation of internal control over financial reporting26
  • On EDGAR sinceJun 22, 20172
  • Filings178 in all: 6-K (68), 4 (21), SC 13G/A (14), 20-F (9), 3 (9), CORRESP (8), UPLOAD (8), 424B3 (4)2
    All 30 form types

    SC 13G (4), DRSLTR (3), EFFECT (3), NT 20-F (3), S-8 (3), 8-A12B (2), DRS/A (2), F-1/A (2), SC 13D (2), 25 (1), 424B4 (1), 6-K/A (1), CERT (1), CERTNYS (1), D (1), DRS (1), F-1 (1), F-3 (1), F-6 (1), F-6 POS (1), NT 20-F/A (1), S-8 POS (1)

  • Latest filingsAnnual report (20-F) May 29, 2026

Securities registered for trading

ClassSymbolExchange
American depositary shares, each representing 10 ordinary shares par value US$0.001 per shareMYNDNYSE

From the cover page of the 20-F filed May 29, 2026 (Section 12(b) of the Exchange Act).26

Sources

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