EpicQuest Education Group International Limited (NASDAQ: EEIQ) announced that Davis University achieved its first year of profitability, according to a shareholder letter from Chairman and CEO Jianbo Zhang.

The Toledo-based education company reported international student enrollment at Davis University reached 407 students in the first quarter of the 2025-2026 academic year, representing an 85% increase year-over-year and a 299% increase compared to 2023 levels.

Davis University's foundational programs enrolled 220 students for the 2025-2026 academic year, marking a 115% increase from the previous year. The company stated that retention rates from first to second year in these two-year programs approach 100%.

EpicQuest Education operates through multiple revenue streams including international students studying in North America, students in foundational programs in their home countries, domestic students, and student services. The company owns Davis University in Ohio and Davis Academy in Vancouver, which is being renamed from EduGlobal College.

The company has entered into memorandums of understanding with MSM Unify and Veritas Global Uni to recruit students for Davis University's Master of Science in Management Program in online formats across multiple international markets including China, Hong Kong, Singapore, the Middle East and Southeast Asia.

Zhang outlined expansion plans including developing branch campuses for Davis University domestically and internationally, expanding certificate training programs, and implementing artificial intelligence across business operations. The company also launched a Master's Certificate Program in the current academic year to help students prepare for graduate programs.

EpicQuest Education went public in March 2021 and provides higher education services for domestic and international students in the United States, Canada and the United Kingdom.