TAL Education Group ADR · Q3 2026 earnings

Briefing

TAL Q3 FY26 revenue jumps 27% to $770M with operating income swinging to $93M

TAL Education Group announced unaudited results for the third fiscal quarter ended November 30, 2025 on January 29, 2026. Net revenues increased 27.0% year over year to $770.2 million from $606.4 million, while income from operations swung to $93.1 million from a $17.4 million loss in the prior-year quarter. Non-GAAP income from operations reached $104.0 million versus a $1.9 million non-GAAP loss a year ago. Net income attributable to TAL rose to $130.6 million from $23.1 million, and non-GAAP net income attributable to TAL was $141.4 million versus $38.6 million. Diluted net income per ADS was $0.23 and non-GAAP diluted EPS was $0.25. Gross margin expanded to 56.1% from 52.7%. Cash, cash equivalents and short-term investments totaled $3.6 billion, and deferred revenue grew to $1.16 billion from $671.2 million at February 28, 2025. Nine-month net revenues rose 34.5% to $2.21 billion with operating income of $203.6 million.

• Q3 net revenues grew 27% to $770.2M while operating income turned positive at $93.1M versus a $17.4M loss last year.
• Net income attributable to TAL was $130.6M with non-GAAP net income of $141.4M; diluted EPS was $0.23 and non-GAAP diluted EPS $0.25.
• Gross margin improved to 56.1% from 52.7% as cost of revenues rose 18% while selling and marketing expenses declined 2.8%.
• Deferred revenue reached $1.16B and operating cash flow was $526.7M in the quarter; the board authorized up to $600M of share repurchases.
• Management highlighted steady revenue growth and technology integration across learning services and devices.

Headline financials

Revenue & EPS history