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Phoenix Education Partners (PXED) investor relations material
Phoenix Education Partners Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary20 Nov, 2025
Executive summary
Achieved strong financial and operational results in fiscal 2025, with net revenue up 6% to $1.01 billion and net income rising to $135.4 million year-over-year.
Completed IPO in October 2025, with 4.9 million shares sold at $32.00 per share; all shares sold by existing shareholders, no proceeds to the company.
Focused on serving working adults, with 75% of students employed and over 50% first-generation college attendees.
Continued investment in technology, AI, and data-driven student support to drive efficiency and student outcomes.
Average Total Degreed Enrollment increased to 79,300 in Q4 2025 and 81,900 for the fiscal year.
Financial highlights
Q4 net revenue grew 7.2% year-over-year to $257 million, with fiscal year revenue reaching $1,007.2 million, up from $950.0 million.
Adjusted EBITDA for Q4 rose 36% to $56.6 million; full-year adjusted EBITDA up 6.5% to $243.9 million.
Adjusted EBITDA margin for fiscal year 2025 was 24.2%, nearly flat year-over-year.
Net income for Q4 was $17.6 million, up from $10 million; full-year net income reached $135.4 million, up from $115.1 million.
Cash and equivalents at year-end were $195 million, down from $383 million, mainly due to $251 million in distributions.
Outlook and guidance
Fiscal 2026 revenue expected between $1.025 billion and $1.035 billion; adjusted EBITDA guidance of $244–$249 million.
Quarterly dividends of $0.84 per share to begin in Q2 2026, subject to board approval.
Expect mid-single-digit revenue growth in out years, with normalization of revenue per student as student mix improves.
Clarify IPO proceeds and shareholder structure.
What caused the FY25 cash and equivalents drop?
Post-IPO cost structure changes.
Unpack FY26 revenue growth guidance drivers
How do UEA controls shape FY26 enrollment
AI's impact on student experience and efficiency
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Next Phoenix Education Partners earnings date
Q1 20269 Jan, 2026
Next Phoenix Education Partners earnings date
Q1 20269 Jan, 2026
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