Form 8-K

8-K — Ambow Education Holding Ltd.

Accession: 0001213900-26-054462

Filed: 2026-05-11

Period: 2026-05-11

CIK: 0001494558

SIC: 8200 (SERVICES-EDUCATIONAL SERVICES)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

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United States

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

Current Report

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

May 11, 2026

Date of Report (Date of earliest event reported)

AMBOW EDUCATION HOLDING LTD.

(Exact Name of Registrant as Specified in its Charter)

Cayman Islands

001-34824

N/A

(State or other jurisdiction

of incorporation)

(Commission File Number)

(I.R.S. Employer

Identification No.)

10080 N. Wolfe RD, Suite SW3-200,

Cupertino, CA

95014

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s telephone number, including

area code: (619) 684-8954

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended

to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

American depositary shares (one American depositary share representing twenty Class A Ordinary Shares, par value $0.003 per share) **

AMBO

NYSE American LLC

Class A Ordinary Shares, par value $0.003 per share*

NYSE American LLC

* Not for trading, but only in connection with the listing on the NYSE American

** Effective on February 20, 2024, the ratio of ADSs to our Class A Ordinary Shares was changed from

one ADS representing two Class A Ordinary Shares to one ADS representing twenty Class A Ordinary Shares.

Indicate by check mark whether the registrant

is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities

Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check

mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting

standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02

Results of Operations and Financial Condition.

On May 11, 2026, Ambow Education Holding Ltd. (the

“Company”) issued a press release announcing its unaudited financial and operating results for the first quarter and three-month

period ended March 31, 2026. The full text of the press release is set forth in Exhibit 99.1 attached hereto.

As provided in General Instruction B.2 of SEC Form

8-K, such information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended

(the “Exchange Act”), or otherwise subject to the liabilities of that section, and it shall not be deemed incorporated by

reference in any filing under the Securities Act of 1933, as amended, or under the Exchange Act, whether made before or after the date

hereof, except as expressly set forth by specific reference in such filing to this Current Report on Form 8-K.

Item 9.01

Financial Statements and Exhibits.

Exhibits

99.1

Press Release of Ambow Education Holding Ltd., dated May 11, 2026.

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities

Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

AMBOW EDUCATION HOLDING LTD.

May 11, 2026

By:

/s/ Jin Huang

Jin Huang

Chief Executive Officer

EX-99.1 — PRESS RELEASE, DATED MAY 11, 2026

EX-99.1

Filename: ea028915501ex99-1.htm · Sequence: 2

Exhibit 99.1

Ambow Education Announces First Quarter of 2026

Financial Results

CUPERTINO, Calif., May 11, 2026

(GLOBE NEWSWIRE) -- Ambow Education Holding Ltd. (“Ambow” or the “Company”) (NYSE American: AMBO) a

U.S.-based innovator of AI-powered phygital (physical + digital) solutions for education, corporate collaboration and live events,

today announced its unaudited financial and operating results for the three-month period ended March 31, 2026.

First Quarter of 2026 and Recent Financial and Operating Highlights

“This quarter demonstrates the operational leverage in our model.

Our top-line grew approximately 21% year over year, gross profit margin expanded to 60.2%, and operating income more than tripled on essentially

flat operating expenses. We are particularly encouraged by HybriU revenue more than doubling year over year, which we believe validates

demand for our AI-driven phygital platform. With $6.9 million in cash resources and growing momentum across both our education and HybriU

businesses, Ambow is well-positioned to continue investing in our product roadmap while maintaining financial discipline,” said

Dr. Jin Huang, Chief Executive Officer of Ambow Education.

First Quarter 2026 Financial Results

Net

revenues for the first quarter of 2026 increased by 21.0% to $2.8 million from $2.3 million for the same period of 2025. The increase

was primarily driven by HybriU revenue growth.

Gross

profit for the first quarter of 2026 increased by 26.2% to $1.7 million from $1.3 million for the same period of 2025. Gross profit

margin was 60.2% for the first quarter of 2026, compared with 57.7% for the first quarter of 2025.

Operating

expenses for the first quarter of 2026 remained essentially stable at $1.2 million compared with the same period of 2025.

Operating

income for the first quarter of 2026 was $0.4 million, compared with $0.1 million for the same period of 2025.

Net income attributable

to ordinary shareholders for the first quarter of 2026 was $0.4 million, or $0.15 per basic and diluted ADS, compared with $0.1

million, or $0.04 per basic and diluted ADS, for the same period of 2025.

of March 31, 2026, Ambow maintained cash resources of $6.9 million, comprising cash and cash equivalents of $4.2 million and restricted

cash of $2.7 million.

The Company’s financial and operating results for the first quarter

of 2026 will also be available on its Quarterly Report on Form 10-Q, to be filed with the U.S. Securities and Exchange Commission (the

“SEC”) at www.sec.gov.

About Ambow

Ambow Education Holding Ltd. is a U.S.-based, AI-driven technology

company offering phygital (physical + digital) solutions for education, corporate conferencing and live events. Through

its flagship platform, HybriU, Ambow is shaping the future of learning, collaboration and communication—delivering immersive, intelligent,

real-time experiences across industries. For more information, visit Ambow’s corporate website at https://www.ambow.com/.

Safe Harbor Statement

This press release contains statements of a forward-looking nature.

These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995.

You can identify these forward-looking statements by terminology such as “will,” “expects,” “believes,”

“anticipates,” “intends,” “estimates” and similar statements. These forward-looking statements involve

known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about Ambow and

the industry. All information provided in this press release is as of the date hereof, and Ambow undertakes no obligation to update any

forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required

by law. Although Ambow believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you

that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated

results.

For more information, please contact:

Ambow Education Holding Ltd.

E-mail: ir@ambow.com

AMBOW EDUCATION HOLDING LTD.

CONDENSED CONSOLIDATED BALANCE SHEETS

(All amounts in thousands, except for share

and per share data)

As of

December 31,

As of

March 31,

Note

2025

2026

(Audited)

(Unaudited)

ASSETS

Current assets:

Cash and cash equivalent

$ 831

$ 4,202

Restricted cash

7,260

2,700

Accounts receivable, net

2,288

2,928

Inventory

Prepaid and other current assets

410

585

Total current assets

10,869

10,495

Non-current assets:

Property and equipment, net

1,984

1,961

Intangible assets, net

1,662

1,629

Other non-current assets, net

969

924

Operating lease right-of-use asset

5,312

5,055

Total non-current assets

9,927

9,569

Total assets

$ 20,796

$ 20,064

LIABILITIES

Current liabilities:

Short-term borrowings

$ 500

Accounts payable

1,609

837

Accrued and other liabilities

1,542

1,331

Income taxes payable

Operating lease liability, current

1,285

1,481

Total current liabilities

4,937

4,150

Non-current liabilities:

Long-term borrowings

2,700

Other non-current liabilities

167

Operating lease liability, non-current

4,742

4,464

Total non-current liabilities

7,609

7,208

Total liabilities

$ 12,546

$ 11,358

Commitments and contingencies

—

EQUITY

Class A Ordinary shares

($0.003 par value; 66,666,667 and 66,666,667 shares authorized; 52,419,109 and 52,419,109 shares issued and outstanding as of December 31, 2025 and March 31, 2026, respectively)

146

Class C Ordinary shares

($0.003 par value; 8,333,333 and 8,333,333 shares authorized; 4,708,415 and 4,708,415 shares issued and outstanding as of December 31, 2025 and March 31, 2026, respectively)

Additional paid-in capital

517,185

517,217

Accumulated deficit

(508,966 )

(508,542 )

Accumulated other comprehensive loss

(128 )

Total equity

8,250

8,706

Total liabilities and equity

$ 20,796

$ 20,064

AMBOW EDUCATION HOLDING LTD.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

AND COMPREHENSIVE INCOME

(All amounts in thousands, except for share and

per share data)

(Unaudited)

For the three months ended

March 31,

Note

2025

2026

NET REVENUES

- Educational program and services

$ 1,990

$ 2,080

- HybriU licensing and sales

324

719

Total net revenues

2,314

2,799

COST OF REVENUES

- Educational program and services

(978 )

(1,113 )

- HybriU licensing and sales

—

Total cost of revenues

(978 )

(1,113 )

GROSS PROFIT

1,336

1,686

OPERATING EXPENSES

Selling and marketing

(226 )

(288 )

General and administrative

(871 )

(800 )

Research and development

(101 )

(156 )

Total operating expenses

(1,198 )

(1,244 )

OPERATING INCOME

138

442

OTHER (EXPENSE) INCOME

Interest (expenses) income, net

(12 )

Other expenses, net

(17 )

(24 )

Total other expenses, net

(29 )

(8 )

INCOME BEFORE INCOME TAX AND NON-CONTROLLING INTERESTS

109

434

Income tax expenses

—

(10 )

NET INCOME

$ 109

$ 424

NET INCOME ATTRIBUTABLE TO ORDINARY SHAREHOLDERS

$ 109

$ 424

OTHER COMPREHENSIVE INCOME, NET OF TAX

Foreign translation adjustments

—

Other comprehensive loss

—

TOTAL COMPREHENSIVE INCOME

109

424

Basic income from operations per share

$ 0.0019

$ 0.0074

Diluted income from operations per share

$ 0.0019

$ 0.0074

Basic income from operations per ADS

$ 0.0380

$ 0.1480

Diluted income from operations per ADS

$ 0.0380

$ 0.1480

Weighted average shares used in calculating basic net income per share

57,127,524

Weighted average shares used in calculating diluted net income per share

57,127,524

Share-based compensation expense from operations included in:

- Selling and marketing

—

- General and administrative

—

- Research and development

—

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