Perdoceo Education Corporation

perdoceoed.com

What Do They Do?

Offers online, campus-based and hybrid postsecondary degree and professional education in business, technology and health sciences to adult learners and other students.

How Do They Make Money?

Students pay tuition and fees, generally billed at the start of each academic term; the company earns the tuition over that term. Students use loans, grants, employer tuition assistance, military funding, scholarships, payment plans, cash or private loans.

revenue

Segment	Share	Revenue	How money arrives
Tuition and Fees, Net Recurring	99% FY2022: 99%		Recurring
Other	0.6% FY2022: 1.1%

Who Are Their Customers?

Students, mainly adult learners and other non-traditional students, enroll directly with the universities; employer-supported students also come through companies that offer education benefits.

Do Revenues Turn Into Profits?

Yes. It kept 19 cents of every revenue dollar as net income in FY2025.

Operating income, FY2025

23% of revenue

▲ +12% vs FY2024 ($174.3M, 26%)

Net income, FY2025

19% of revenue

▲ +8% vs FY2024 ($147.6M, 22%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +2%; vs $209.6M in Q2 FY2025
Net income: ▲ +17%; vs $41M in Q2 FY2025

Tuition and Fees, Net share of revenue vs 99.4% in Q2 FY2025

Sep 14, 2026 Agreed to acquire South University The acquisition is subject to approvals and closing conditions, with completion expected as early as April 2027.

Growing. Revenue grew 22% in 4 years, from $693M in FY2021 to $846.1M in FY2025, about 5% a year.

Revenue over time

Tuition and Fees, Net Other

$1B$500M$0

FY2021 FY2022 FY2023 FY2024 FY2025

Comments