It needed to, for the sake of their balance sheet. They...

It needed to, for the sake of their balance sheet. They didn't have much wiggle room left imho.

After today's enrolment numbers I expect the $31.2m revenue run rate referenced in their address may be exceeded. From what I can tell IKN is the jewel (bigger competitor NXD seems to be performing more like the ALG part of the business). If I was NXD I'd be talking with EDU about getting together to reduce overheads, gain scale and simplify lobbying, better value than that buyback. Should also improve liquidity.

Not sure how much of that $30m or so 2024 revenue will end up as profit but they need to improve their cash situation. If they can't bank cash in years like this I'm not sure what they're doing because if the pollies follow through on their threats this year and early 2025 might be about as good as it gets.