IDP Education revises revenue policy as JPMorgan cuts stake

IDP Education Limited (ASX:IEL) has revised its revenue recognition policy for student placement, moving to a census date recognition across all jurisdictions. This change, effective for FY26 reporting with restatements for FY25 comparatives, is expected to decrease FY26 revenue and adjusted EBIT by approximately AUD$2m but will not impact operating cash flows. For FY25, the restatement results in an increase in revenue and net profit after tax of AUD$9.2m and AUD$5.2m, respectively, but a decrease in net assets, retained earnings, and equity by AUD$68.8m as at 30 June 2025.

Concurrently, JPMorgan Chase & Co. and its affiliates ceased to be a substantial holder in IDP Education Limited on December 17, 2025.

JPMorgan’s various entities, including JPMorgan Chase Bank, N.A., J.P. Morgan Securities Australia Limited, and J.P. Morgan Investment Management Inc., reported changes in their relevant interests, primarily through securities on loan, purchases and sales, and securities received as collateral due to securities lending. The total voting power held by JPMorgan and its associates was 5.01% with 13,956,682.23 ordinary shares at the time they became a substantial holder on December 16, 2025.