The Janison Education Group Ltd (ASX: JAN) share price is rocketing higher today. This follows comments from the company’s CEO regarding the digital transformation in the education sector today.
At the time of writing, shares in the online assessment and learning solutions provider are swapping hands for $1.08, up 14.89%. The Janison share price had been as high as $1.16 around midday. As a result, the company’s shares have now set a new 52-week high.
Education’s shift to digital
Investors are sending the Janison Education share price soaring on Wednesday. However, with no announcements out of the company, our eyes turn elsewhere for possible catalysts. One may be an article published by Digital Nation this morning where the Janison CEO talks about the COVID-19 induced digital shift within the education sector.
In the discussion, CEO David Caspari highlights the benefits of the digital transformation for students and teachers. As the fast-tracked movement changes the ways businesses operate, Caspari notes that educational continuity is another area in which digital tools can help.
Considering younger generations have grown up surrounded by technology, the sector is filled with people who are digital naturals. As such, Caspari believes that artificial intelligence could be used to free up time for teachers, resulting in better outcomes for students.
Speaking on the integration of digital solutions in education, Caspari said:
I talk to teachers and it’s a 24-hour profession, that is not sustainable and technology can help them. Artificial intelligence and our various other technologies can auto mark, can report and analyse on the assessments, all of these things save time for teachers that can be far better used, helping their students and driving teaching and learning outcomes.
Potentially exciting investors, the CEO also shared his belief that the changes inflicted by the pandemic will stick around. Specifically, he believes a hybrid education model of in-person and online is likely to stay.
Janison share price on the uptrend
Today’s positive movement only adds to what has been an incredible past year for the Janison Education share price. Riding the digital adoption trend, the company’s shares have catapulted 184% during the past 12 months.
While the company’s share price was rallying, so too was its revenue. In its FY21 full-year result, Janison reported a 38% increase in group revenue to $30.2 million. Despite this, it remains to be a loss-making business, losing $3.2 million in FY21.
Based on the current Janison share price, the company holds a market capitalisation of $258 million.