Navitas reports $338m loss
International education service provider Navitas reported annual losses of $338 million and write-downs of $188 million in the last fiscal year.
Navitas’ parent company, Marron Group Holdings, released its annual report for the year ended June 30, recording a net loss after tax of $338 million on revenue of $887.7 million.
The FY24-25 loss was $191.9 million less than the $146.1 million loss reported in the previous fiscal year.
The group also reported an impairment of $188.5 million in FY24-25 compared to an impairment of $500,000 recorded in FY23-24.
In the report, Navitas said it had also completed a review of expected future cash flows across its operations.
“The review resulted in the recognition of impairment losses for both UPNA (University Partnerships of North America) and SAE,” the group said.
“This result reflects current market conditions in Canada, which are impacting UPNA’s future performance and cash flows as a result of reduced student numbers due to government-imposed student caps and visa restrictions.
“While a future return is expected, the impact on the modeled corporate plan resulted in the recognition of an impairment loss of $134.1 million as of June 30, 2025.”
SAE is Navitas’ creative media operation.
Despite the loss and depreciation, Navitas acknowledged the federal government’s clarity on new initial overseas student (NOSC) allocations for 2026.
“Pleasingly, Navitas has achieved a 3 per cent increase in NOSC allocations, with visa processing times improving, increasing positive sentiment towards Australia as a destination for international students,” the group said in its annual report.
“What is important is the new classification of the established university transfer provider that applies to our Australian preparatory colleges.
“This classification ensures that our students are not counted twice in NOSC allocations through the application of the NOSC exemption when transferring to our university partners.
“This result further strengthens the value proposition of the Navitas on-road model.”
The federal government has imposed a cap of 270,000 overseas student enrollments at Australian universities and higher education providers for 2025.
The threshold will be increased by 25,000 places to 295,000 students next year.
