Perdoceo Education (PRDO) Investor presentation summary

Investment thesis and industry trends

• Long-term demand for postsecondary education is strong, with online learning widely accepted and growing among non-traditional and adult learners.

• Technology is leveraged as a differentiator, including mobile apps, predictive analytics, and AI tools for student engagement and back-office processes.

• Diverse academic programs are offered through three accredited universities, with recent acquisitions enhancing health sciences offerings.

• Capital allocation focuses on high ROIC projects, maintaining a strong balance sheet with $644 million in cash and investments and no debt.

• Capital is returned to shareholders via dividends and share repurchases, while investing in technology and student support.

Operating framework and student focus

• The operating model centers on a student-first mindset, aiming to improve retention and leverage technology for student support.

• Academic quality, integrity, and compliance with regulations are core principles.

• Programs are designed to be relevant and impactful, with a learner-centric approach and diverse offerings.

• Maintaining programmatic accreditations and regulatory knowledge is prioritized.

Institutional structure and student demographics

• Three main institutions: Colorado Technical University (CTU), American InterContinental University System (AIUS), and University of St. Augustine for Health Sciences (USAHS).

• CTU and AIUS are primarily online, while USAHS focuses on graduate health sciences with hybrid and on-ground programs.

• As of December 31, 2025, 68% of students are over 30, and 66% are enrolled in bachelor's programs.

• Core curricula include business, IT, and health education.