* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2022 0 · FY2023 0 · FY2024 0
Established in 1995, IBSU is one of Georgia's leading private universities and the first English-language higher-education institution in the country, with around 50 accredited bachelor's, master's, and doctoral programs.
Subsidiary of Georgian National University SEU (100.0%)
| Line item | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | CAGR |
|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | 7,172 | 6,412 | 5,386 | 5,680 | 6,272 | 7,144 | 9,006 | 10,996 | +6.3% |
| Total COGS | 44 | 46 | 0 | 0 | 44 | 93 | 2,498 | 3,469 | +86.5% |
| Gross Profit | 7,128 | 6,366 | 5,386 | 5,680 | 6,229 | 7,051 | 6,508 | 7,526 | +0.8% |
| Gross Margin | 99.4% | 99.3% | 100.0% | 100.0% | 99.3% | 98.7% | 72.3% | 68.4% | |
| 7,004 | 6,569 | 5,265 | 4,889 | 5,403 | 6,609 | 5,087 | 6,969 | -0.1% | |
| EBITDA | 124 | 203 | 121 | 791 | 826 | 442 | 1,420 | 558 | +23.9% |
| EBITDA Margin | 1.7% | 3.2% | 2.3% | 13.9% | 13.2% | 6.2% | 15.8% | 5.1% | |
| Total D&A | 0 | 0 | 239 | 1,260 | 789 | 818 | 1,126 | 1,379 | +42.0% |
| EBIT / Operating Income | 124 | 203 | 117 | 469 | 37 | 376 | 294 | 822 | nmf |
| Total Interest Expense | 0 | 0 | 14 | 58 | 30 | 65 | 30 | 109 | +51.6% |
| 297 | 68 | 388 | 115 | 90 | 19 | 136 | 47 | nmf | |
| Profit Before Tax | 421 | 135 | 257 | 411 | 98 | 459 | 128 | 978 | nmf |
| Total Income Tax | 0 | 7 | 2 | 0 | 0 | 2 | 3 | 0 | -52.4% |
| Net Profit / (Loss) | 421 | 142 | 107 | 563 | 40 | 595 | 125 | 978 | nmf |
| Net Margin | 5.9% | 2.2% | 2.0% | 9.9% | 0.6% | 8.3% | 1.4% | 8.9% | |
| Other Comprehensive Income | 0 | 0 | 558 | 10,246 | 1 | 0 | 0 | 0 | nmf |
| Total Comprehensive Income | 421 | 142 | 665 | 9,683 | 40 | 595 | 125 | 978 | nmf |
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