Perdoceo Education Corporation reported significant financial growth in its latest quarterly results, with total revenue reaching $211.9 million for the quarter ended September 30, 2025, a 24.8% increase from $169.8 million in the same period last year. Year-to-date revenue also saw a substantial rise, climbing 25.7% to $634.5 million compared to $504.8 million in the prior year. This growth was primarily driven by the acquisition of the University of St. Augustine for Health Sciences (USAHS), which contributed approximately $38 million in revenue since its acquisition in December 2024. Colorado Technical University (CTU) also reported increased revenue due to higher student enrollments, while the American InterContinental University System (AIUS) experienced a slight decline in revenue.
Operating income for the third quarter increased to $51.0 million, up from $44.8 million in the previous year, reflecting a 13.8% growth. The increase in operating income was attributed to revenue growth at CTU and effective management of operating expenses. Total operating expenses rose to $160.9 million, up from $125.0 million, largely due to the inclusion of USAHS's expenses and increased costs associated with educational services and facilities. The company reported a net income of $39.9 million for the quarter, compared to $38.3 million in the prior year, resulting in diluted earnings per share of $0.60.
Perdoceo's total student enrollments increased by 15.1% year-over-year, reaching 46,520 students as of September 30, 2025. This growth was driven by a 6.7% increase in enrollments at CTU, while AIUS saw a 2.9% decline in enrollments, attributed to fewer enrollment days in the current academic calendar. USAHS reported 4,420 students enrolled for the fall term, marking its first full term of operations since the acquisition. The company continues to focus on enhancing student engagement and retention, which has contributed to the overall increase in enrollments.
In terms of operational developments, Perdoceo has transitioned the management of non-degree professional development programs from CTU to AIUS, a strategic move aimed at improving efficiency and performance across its educational offerings. The company has also implemented advanced marketing strategies, including the use of artificial intelligence to better identify and engage prospective students. As of September 30, 2025, Perdoceo's cash, cash equivalents, and short-term investments totaled $668.6 million, providing a strong liquidity position to support ongoing operations and future growth initiatives.
Looking ahead, Perdoceo anticipates continued revenue growth driven by the USAHS acquisition and an expected increase in student enrollments. The company remains committed to investing in technology and student support initiatives to enhance educational outcomes. However, it acknowledges potential challenges related to regulatory changes in federal student loan programs and the competitive landscape of the higher education sector. The management's outlook reflects confidence in sustaining the positive momentum achieved in recent quarters while navigating the evolving educational environment.
About PERDOCEO EDUCATION Corp
Perdoceo Education Corporation operates accredited institutions providing online, campus-based, and hybrid postsecondary education in fields such as business, health sciences, and technology. Its key offerings include degree programs from associate to doctoral levels, professional development, and clinical health sciences. Serving primarily non-traditional adult learners and military personnel in the U.S., the company leverages innovative technology, personalized learning, and strategic employer partnerships to enhance student engagement, retention, and career readiness.
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