Education technology firm EduFocal made a loss in its third quarter ended September.
Total losses for the quarter came to $27.7 million, compared to a profit of $3.76 million for the corresponding period last year.
EduFocal's revenue for the three months was $33.6 million less, compared to 2021.
Total earnings came to $23.6 million, as against $57.2 million.
Key drivers of the company's decline included an increase in operating expenses as well as its finance costs.
EduFocal, however, says it is expecting a turn-around in the fourth quarter.
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