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Perdoceo Education (PRDO) investor relations material
Perdoceo Education Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue grew 24.2% year-over-year to $846.1 million in 2025, with Q4 revenue up 20% to $211.6 million compared to the prior year quarter.
Operating income rose 12.5% to $196.0 million, and adjusted operating income increased 25.8% to $237.6 million.
Net income for 2025 was $159.9 million ($2.42 per diluted share), up from $147.6 million ($2.19 per share) in 2024; adjusted EPS was $2.61.
Total student enrollments increased 7.3% year-over-year to 44,400 as of December 31, 2025, with record retention and targeted investments in marketing and admissions.
Strategic focus on student experience, academic outcomes, and workforce-aligned programs across all institutions.
Financial highlights
Q4 net income was $35.3 million ($0.54 per share), with adjusted EPS for Q4 at $0.59.
Net cash from operations was $225.2 million, up from $161.6 million in 2024.
Year-end cash and equivalents totaled $643.5 million, up $51.9 million year-over-year.
Gross margin for 2025 was 23.2%, with operating margin at 23.2%.
Bad debt expense decreased to 3.5% of revenue, down $4.2 million year-over-year.
Outlook and guidance
2026 adjusted operating income expected between $250–$263 million, up from $237.6 million in 2025.
Adjusted EPS for 2026 projected at $2.97–$3.12, a 16% increase at the midpoint.
Q1 2026 adjusted operating income expected at $68–$70 million, with adjusted EPS of $0.83–$0.85.
Revenue and enrollment growth anticipated across all institutions, with continued investment in technology and student support.
Assumptions include stable student interest, no major regulatory changes, and continued access to federal student aid.
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