v3.25.4
Segment Reporting
 12 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Segment Reporting

17. Segment Reporting

 

The Company’s chief operating decision maker has been identified as the Chief Executive Officer who reviews consolidated results when making decisions about allocating resources and assessing performance of the Company. The Company uses the management approach to determine the operating segments. The management approach considers the internal organization and reporting used by the Company’s chief operating decision maker for making decisions, allocating resources and assessing performance. The chief operating decision maker uses revenue to assess segment profitability and allocate resources effectively. There are inter-segment revenue transactions including marketing service and management service. Reconciliation of total segment revenues to consolidated revenues excludes inter-segment revenue . The accounting policies of the segments are the same as those used by the Company.

 

During the year ended September 30, 2025, the Company operated in three primary reportable segments, representing its operating subsidiaries QHI, DC, and DU. Other business activities that are currently not classified as a reportable segment is combined in the category of “Other”, which includes the results of HHI, Skyward, Gilmore and SouthGilmore.

 

   QHI   DC   DU   Other   Total 
   US$   US$   US$   US$   US$ 
                     
Revenue                    
Tuition and academic programs   1,928,160    196,371    5,425,615    
-
    7,550,146 
Collaborative education services   
-
    
-
    818,665    
-
    818,665 
Student accommodation and other related services   304,818    44,527    106,108    
-
    455,453 
Application and advisory services   
-
    115,725    
-
    
-
    115,725 
    2,232,978    356,623    6,350,388    
-
    8,939,989 
Costs of services   440,622    128,727    2,444,770    
-
    3,014,119 
Selling expenses and general administrative   4,191,445    648,466    3,242,236    640,884    8,723,031 
Segment loss (income)   2,399,089    420,570    (663,382)   640,884    2,797,161 
Depreciation expense                       409,899 
Stock-based compensation expense                       972,879 
Other income                       (1,619,373)
Interest income                       (37,337)
Foreign exchange gain                       
-
 
Loss before income taxes                       2,523,229 
Income taxes (recovery)                       3,384 
Net loss                       2,526,613 
                          
Segmented assets   7,930,605    1,711,669    12,375,091    3,758,641    25,776,006 
Goodwill allocation   
-
    840,855    1,811,917    
-
    2,652,772 

During the year ended September 30, 2024, the Company operated in three primary reportable segments, representing its operating subsidiaries QHI, DC, and DU. Other business activities that are currently not classified as a reportable segment is combined in the category of “Other”, which includes the results of HHI, Skyward, Gilmore and SouthGilmore.

 

   QHI   DC   DU   Other   Total 
   US$   US$   US$   US$   US$ 
                     
Revenue                    
Tuition and academic programs   3,529,015    607,697    3,335,595    
-
    7,472,307 
Collaborative education services   
-
    
-
    174,655    
-
    174,655 
Student accommodation and other related services   
-
    
-
    107,611    
-
    506,584 
Application and advisory services   398,973    
-
    
-
    
-
    
-
 
    3,927,988    607,697    3,617,861    
-
    8,153,546 
Costs of services   997,763    57,814    1,784,535    
-
    2,840,112 
Selling expenses and general administrative   5,916,980    773,803    2,889,853    754,845    10,335,481 
Segment loss   2,986,755    223,920    1,056,527    754,845    5,022,047 
Depreciation expense                       425,783 
Stock-based compensation expense                       1,977,187 
Other income                       (495,276)
Interest income                       (22,731)
Foreign exchange gain                       
-
 
Loss before income taxes                       6,907,010 
Income taxes (recovery)                       (335,826)
Net loss                       6,571,184 
                          
Segmented assets   7,239,296    1,516,949    10,684,732    3,850,350    23,291,327 
Goodwill allocation   
-
    840,855    1,811,917    
-
    2,652,772 

During the year ended September 30, 2023, the Company operated in two primary reportable segments, representing its operating subsidiaries QHI and DU. Other business activities that are currently not classified as a reportable segment is combined in the category of “Other”, which includes the results of HHI, DC and Skyward.

 

   QHI   DU   Other   Total 
   US$   US$   US$   US$ 
                 
Revenue                
Tuition and academic programs   3,324,072    1,671,596    
-
    4,995,668 
Collaborative education services   
-
    94,504    
-
    94,504 
Student accommodation and other related services   622,308    
-
    
-
    622,308 
    3,946,380    1,766,100    
-
    5,712,480 
Costs of services   837,055    665,200    
-
    1,502,255 
Selling expenses and general administrative   5,242,103    2,053,130    1,465,798    8,761,031 
Segment loss   2,132,778    952,230    1,465,798    4,550,806 
Depreciation expense                  407,013 
Stock-based compensation expense                  2,061,810 
Other income                  (186,137)
Interest income                  (53,089)
Foreign exchange gain                  (5)
Loss before income taxes                  6,780,398 
Income taxes                  289,464 
Net loss                  7,069,862 
                     
Segmented assets   8,414,389    8,540,087    2,254,660    19,209,136 
Goodwill allocation   
-
    1,811,917    840,849    2,652,766 

 

As at September 30, 2025, long-term assets located in the U.S. and Canada were $8,212,099 or 87%, and $1,259,527 or 13% of the Company’s total long-term assets.

 

As at September 30, 2024, long-term assets located in the U.S. and Canada were $17,586,497 or 93%, and $1,413,355 or 7% of the Company’s total long-term assets.