New Oriental Education & Technology Group Inc. reported total net revenues of $1.523 billion for the first fiscal quarter ended August 31, 2025, representing a 6.1% increase from $1.435 billion in the same period last year. Operating income was $310.8 million, up 6.0% from $293.2 million a year earlier. Net income attributable to New Oriental was $240.7 million, a decrease of 1.9% compared to $245.4 million in the prior-year period. Non-GAAP operating income was $335.5 million, up 11.3% from $301.4 million in the same quarter last year. Non-GAAP net income attributable to New Oriental was $258.3 million, a decrease of 1.6% from $262.4 million in the previous year. Net operating cash inflow for the quarter was approximately $192.3 million, with capital expenditures amounting to $55.4 million. As of August 31, 2025, cash and cash equivalents stood at $1.282 billion, with $1.570 billion in term deposits and $2.178 billion in short-term investment. Deferred revenue at the end of the quarter was $1.907 billion, up 10.0% from $1.733 billion at the end of the first quarter of fiscal year 2025.