$PRDO
Perdoceo Education Corp

2023 Q2 Form 10-Q Financial Statement

#000095017023017893 Filed on May 04, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $186.6M $195.6M $183.0M
YoY Change 11.26% 6.91% -0.37%
Cost Of Revenue $32.75M $33.85M $28.09M
YoY Change 20.09% 20.52% -3.14%
Gross Profit $153.8M $161.7M $154.9M
YoY Change 9.54% 4.44% 0.11%
Gross Profit Margin 82.45% 82.69% 84.65%
Selling, General & Admin $100.6M $112.7M $106.3M
YoY Change -0.73% 6.01% -3.37%
% of Gross Profit 65.4% 69.67% 68.64%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.369M $5.155M $4.882M
YoY Change -11.0% 5.59% 21.99%
% of Gross Profit 2.84% 3.19% 3.15%
Operating Expenses $138.5M $152.3M $111.2M
YoY Change 3.54% 36.95% -2.48%
Operating Profit $48.09M $43.34M $43.69M
YoY Change 41.68% -0.82% 7.57%
Interest Expense $96.00K $95.00K $230.0K
YoY Change -3.03% -58.7% -23.33%
% of Operating Profit 0.2% 0.22% 0.53%
Other Income/Expense, Net $26.51M $3.717M -$89.00K
YoY Change 3347.2% -4276.4% -189.0%
Pretax Income $74.60M $47.05M $43.83M
YoY Change 114.9% 7.34% 6.89%
Income Tax $19.93M $12.57M $11.76M
% Of Pretax Income 26.71% 26.71% 26.82%
Net Earnings $54.67M $34.48M $32.08M
YoY Change 112.18% 7.5% 4.31%
Net Earnings / Revenue 29.31% 17.63% 17.53%
Basic Earnings Per Share $0.81 $0.51 $0.47
Diluted Earnings Per Share $0.80 $0.50 $461.1K
COMMON SHARES
Basic Shares Outstanding 67.48M 67.18M 68.75M
Diluted Shares Outstanding 68.53M 68.51M 69.57M

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $568.6M $510.8M $498.1M
YoY Change 10.29% 2.55% 11.42%
Cash & Equivalents $140.5M $89.85M $191.7M
Short-Term Investments $428.1M $420.9M $307.6M
Other Short-Term Assets $664.0K $735.0K $13.79M
YoY Change -75.74% -94.67% -3.59%
Inventory $2.875M $3.765M $1.405M
Prepaid Expenses $12.52M $11.38M
Receivables $42.32M $44.99M $34.10M
Other Receivables $6.896M $4.309M $8.845M
Total Short-Term Assets $643.4M $585.4M $556.2M
YoY Change 12.52% 5.26% 9.9%
LONG-TERM ASSETS
Property, Plant & Equipment $24.26M $25.75M $62.49M
YoY Change -10.0% -58.79% -8.24%
Goodwill $244.1M $243.9M
YoY Change 50.15%
Intangibles $49.09M $50.94M
YoY Change 69.99%
Long-Term Investments $1.200M $1.200M
YoY Change
Other Assets $6.889M $6.880M $30.70M
YoY Change 6.81% -77.59% -26.74%
Total Long-Term Assets $370.3M $377.6M $287.6M
YoY Change 30.26% 31.27% 17.75%
TOTAL ASSETS
Total Short-Term Assets $643.4M $585.4M $556.2M
Total Long-Term Assets $370.3M $377.6M $287.6M
Total Assets $1.014B $963.0M $843.8M
YoY Change 18.41% 14.12% 12.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $15.36M $15.18M $12.14M
YoY Change 23.69% 25.08% 12.36%
Accrued Expenses $55.99M $47.52M $38.15M
YoY Change 25.35% 24.55% 2.56%
Deferred Revenue $66.91M $44.71M $39.11M
YoY Change 88.14% 14.32% 5.69%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $160.7M $135.1M $110.3M
YoY Change 45.82% 22.47% 6.93%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $36.19M $40.86M $55.10M
YoY Change 71.39% -25.84% -6.29%
Total Long-Term Liabilities $60.54M $66.70M $55.10M
YoY Change 14.01% 21.05% -6.29%
TOTAL LIABILITIES
Total Short-Term Liabilities $160.7M $135.1M $110.3M
Total Long-Term Liabilities $60.54M $66.70M $55.10M
Total Liabilities $221.2M $201.8M $165.4M
YoY Change 35.48% 22.0% 2.13%
SHAREHOLDERS EQUITY
Retained Earnings $437.0M $382.3M
YoY Change 41.05%
Common Stock $689.7M $687.6M
YoY Change 1.38%
Preferred Stock
YoY Change
Treasury Stock (at cost) $328.6M $304.6M
YoY Change 11.72%
Treasury Stock Shares $22.45M
Shareholders Equity $792.4M $761.2M $678.4M
YoY Change
Total Liabilities & Shareholders Equity $1.014B $963.0M $843.8M
YoY Change 18.41% 14.12% 12.45%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income $54.67M $34.48M $32.08M
YoY Change 112.18% 7.5% 4.31%
Depreciation, Depletion And Amortization $4.369M $5.155M $4.882M
YoY Change -11.0% 5.59% 21.99%
Cash From Operating Activities $61.65M $4.572M $22.15M
YoY Change 88.96% -79.36% -50.45%
INVESTING ACTIVITIES
Capital Expenditures $1.687M $1.925M -$4.742M
YoY Change -183.39% -140.59% 374.2%
Acquisitions $7.000M
YoY Change
Other Investing Activities -$7.425M -$19.43M -$142.2M
YoY Change -87.76% -86.33% 130.8%
Cash From Investing Activities -$9.112M -$21.36M -$146.9M
YoY Change -85.46% -85.46% 134.53%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $3.169M
YoY Change 909.24%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.848M -2.777M -8.765M
YoY Change -84.14% -68.32% 410.19%
NET CHANGE
Cash From Operating Activities 61.65M 4.572M 22.15M
Cash From Investing Activities -9.112M -21.36M -146.9M
Cash From Financing Activities -1.848M -2.777M -8.765M
Net Change In Cash 50.69M -19.56M -133.5M
YoY Change -221.52% -85.35% 579.41%
FREE CASH FLOW
Cash From Operating Activities $61.65M $4.572M $22.15M
Capital Expenditures $1.687M $1.925M -$4.742M
Free Cash Flow $59.96M $2.647M $26.90M
YoY Change 73.06% -90.16% -41.16%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2023Q1 prdo Term Of Non Degree Professional Development And Continuing Education Offerings Through Subscription Based Access
TermOfNonDegreeProfessionalDevelopmentAndContinuingEducationOfferingsThroughSubscriptionBasedAccess
P364D
CY2023Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2023Q1 dei Amendment Flag
AmendmentFlag
false
CY2023Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001046568
CY2022Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2023Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2023Q1 us-gaap Preferred Stock Value
PreferredStockValue
CY2023Q1 dei Document Type
DocumentType
10-Q
CY2023Q1 dei Document Quarterly Report
DocumentQuarterlyReport
true
CY2023Q1 dei Document Period End Date
DocumentPeriodEndDate
2023-03-31
CY2023Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
CY2023Q1 dei Document Transition Report
DocumentTransitionReport
false
CY2023Q1 dei Entity File Number
EntityFileNumber
0-23245
CY2023Q1 dei Entity Registrant Name
EntityRegistrantName
PERDOCEO EDUCATION CORP
CY2023Q1 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
CY2023Q1 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
36-3932190
CY2023Q1 dei Entity Address Address Line1
EntityAddressAddressLine1
1750 E. Golf Road
CY2023Q1 dei Entity Address City Or Town
EntityAddressCityOrTown
Schaumburg
CY2023Q1 dei Entity Address State Or Province
EntityAddressStateOrProvince
IL
CY2023Q1 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
60173
CY2023Q1 dei City Area Code
CityAreaCode
847
CY2023Q1 dei Local Phone Number
LocalPhoneNumber
781-3600
CY2023Q1 dei Security12b Title
Security12bTitle
Common Stock, $0.01 par value
CY2023Q1 dei Trading Symbol
TradingSymbol
PRDO
CY2023Q1 dei Security Exchange Name
SecurityExchangeName
NASDAQ
CY2023Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2023Q1 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2023Q1 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2023Q1 dei Entity Small Business
EntitySmallBusiness
false
CY2023Q1 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2023Q1 dei Entity Shell Company
EntityShellCompany
false
CY2023Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
67477996
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
89845000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
109408000
CY2023Q1 us-gaap Restricted Cash Current
RestrictedCashCurrent
9476000
CY2022Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
9476000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
99321000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
118884000
CY2023Q1 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
420943000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
399315000
CY2023Q1 prdo Cash Cash Equivalents Restricted Cash And Short Term Investments
CashCashEquivalentsRestrictedCashAndShortTermInvestments
520264000
CY2022Q4 prdo Cash Cash Equivalents Restricted Cash And Short Term Investments
CashCashEquivalentsRestrictedCashAndShortTermInvestments
518199000
CY2023Q1 us-gaap Contract With Customer Receivable Before Allowance For Credit Loss Current
ContractWithCustomerReceivableBeforeAllowanceForCreditLossCurrent
84901000
CY2022Q4 us-gaap Contract With Customer Receivable Before Allowance For Credit Loss Current
ContractWithCustomerReceivableBeforeAllowanceForCreditLossCurrent
81197000
CY2023Q1 us-gaap Contract With Customer Receivable Allowance For Credit Loss Current
ContractWithCustomerReceivableAllowanceForCreditLossCurrent
39912000
CY2022Q4 us-gaap Contract With Customer Receivable Allowance For Credit Loss Current
ContractWithCustomerReceivableAllowanceForCreditLossCurrent
38646000
CY2023Q1 us-gaap Contract With Customer Receivable After Allowance For Credit Loss Current
ContractWithCustomerReceivableAfterAllowanceForCreditLossCurrent
44989000
CY2022Q4 us-gaap Contract With Customer Receivable After Allowance For Credit Loss Current
ContractWithCustomerReceivableAfterAllowanceForCreditLossCurrent
42551000
CY2023Q1 us-gaap Other Receivables
OtherReceivables
4309000
CY2022Q4 us-gaap Other Receivables
OtherReceivables
3457000
CY2023Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
11383000
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
8411000
CY2023Q1 us-gaap Inventory Net
InventoryNet
3765000
CY2022Q4 us-gaap Inventory Net
InventoryNet
1904000
CY2023Q1 us-gaap Other Assets Current
OtherAssetsCurrent
735000
CY2022Q4 us-gaap Other Assets Current
OtherAssetsCurrent
597000
CY2023Q1 us-gaap Assets Current
AssetsCurrent
585445000
CY2022Q4 us-gaap Assets Current
AssetsCurrent
575119000
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
56702000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
54238000
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
25752000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
26038000
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
24277000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
26156000
CY2023Q1 us-gaap Goodwill
Goodwill
243941000
CY2022Q4 us-gaap Goodwill
Goodwill
243540000
CY2023Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
18604000
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
15981000
CY2023Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
50941000
CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
53564000
CY2023Q1 us-gaap Contract With Customer Receivable Before Allowance For Credit Loss Noncurrent
ContractWithCustomerReceivableBeforeAllowanceForCreditLossNoncurrent
5499000
CY2022Q4 us-gaap Contract With Customer Receivable Before Allowance For Credit Loss Noncurrent
ContractWithCustomerReceivableBeforeAllowanceForCreditLossNoncurrent
6345000
CY2023Q1 us-gaap Contract With Customer Receivable Allowance For Credit Loss Noncurrent
ContractWithCustomerReceivableAllowanceForCreditLossNoncurrent
4032000
CY2022Q4 us-gaap Contract With Customer Receivable Allowance For Credit Loss Noncurrent
ContractWithCustomerReceivableAllowanceForCreditLossNoncurrent
4495000
CY2023Q1 us-gaap Contract With Customer Receivable After Allowance For Credit Loss Noncurrent
ContractWithCustomerReceivableAfterAllowanceForCreditLossNoncurrent
1467000
CY2022Q4 us-gaap Contract With Customer Receivable After Allowance For Credit Loss Noncurrent
ContractWithCustomerReceivableAfterAllowanceForCreditLossNoncurrent
1850000
CY2023Q1 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
24309000
CY2022Q4 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
24613000
CY2023Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
6880000
CY2022Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
6488000
CY2023Q1 us-gaap Assets
Assets
963012000
CY2022Q4 us-gaap Assets
Assets
957368000
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
6043000
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
6555000
CY2023Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
15178000
CY2022Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
13518000
CY2023Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
22448000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
40306000
CY2023Q1 prdo Accrued Advertising And Marketing Costs Current
AccruedAdvertisingAndMarketingCostsCurrent
7654000
CY2022Q4 prdo Accrued Advertising And Marketing Costs Current
AccruedAdvertisingAndMarketingCostsCurrent
8977000
CY2023Q1 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
20079000
CY2022Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
7814000
CY2023Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
19027000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
14621000
CY2023Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
44710000
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
71590000
CY2023Q1 us-gaap Liabilities Current
LiabilitiesCurrent
135139000
CY2022Q4 us-gaap Liabilities Current
LiabilitiesCurrent
163381000
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
25837000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
27286000
CY2023Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
40864000
CY2022Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
40856000
CY2023Q1 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
66701000
CY2022Q4 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
68142000
CY2023Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2023Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2023Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000
CY2023Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
89923857
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
89396192
CY2023Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
67477996
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
67175485
CY2023Q1 us-gaap Common Stock Value
CommonStockValue
899000
CY2022Q4 us-gaap Common Stock Value
CommonStockValue
894000
CY2023Q1 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
686719000
CY2022Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
684183000
CY2023Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-4121000
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-5447000
CY2023Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
382323000
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
347839000
CY2023Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
22445861
CY2022Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
22220707
CY2023Q1 us-gaap Treasury Stock Value
TreasuryStockValue
304648000
CY2022Q4 us-gaap Treasury Stock Value
TreasuryStockValue
301624000
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
761172000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
725845000
CY2023Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
963012000
CY2022Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
957368000
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
195598000
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
182959000
CY2023Q1 prdo Educational Services And Facilities Expense
EducationalServicesAndFacilitiesExpense
33851000
CY2022Q1 prdo Educational Services And Facilities Expense
EducationalServicesAndFacilitiesExpense
28088000
CY2023Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
112686000
CY2022Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
106296000
CY2023Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
5155000
CY2022Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
4882000
CY2023Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
570000
CY2023Q1 us-gaap Operating Expenses
OperatingExpenses
152262000
CY2022Q1 us-gaap Operating Expenses
OperatingExpenses
139266000
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
43336000
CY2022Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
43693000
CY2023Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
3818000
CY2022Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
333000
CY2023Q1 us-gaap Interest Expense
InterestExpense
95000
CY2023Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
22200000
CY2022Q1 us-gaap Interest Expense
InterestExpense
103000
CY2023Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-6000
CY2022Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-89000
CY2023Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
3717000
CY2022Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
141000
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
47053000
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
43834000
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
12569000
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
11756000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
34484000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
32078000
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.51
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.47
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.50
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.46
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
67235000
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
68746000
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
68514000
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
69567000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
34484000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
32078000
CY2023Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
26000
CY2022Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-81000
CY2023Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
1300000
CY2022Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-1364000
CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1326000
CY2022Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-1445000
CY2023Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
35810000
CY2022Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
30633000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
725845000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
34484000
CY2023Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
26000
CY2023Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
1300000
CY2023Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
815000
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2294000
CY2023Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
-1962000
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
761172000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
650110000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
32078000
CY2022Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-81000
CY2022Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-1364000
CY2022Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
3828000
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2416000
CY2022Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
-951000
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
678380000
CY2023Q1 us-gaap Profit Loss
ProfitLoss
34484000
CY2022Q1 us-gaap Profit Loss
ProfitLoss
32078000
CY2023Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
570000
CY2023Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
5155000
CY2022Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
4882000
CY2023Q1 prdo Provision For Doubtful Accounts Including Discontinued Operations
ProvisionForDoubtfulAccountsIncludingDiscontinuedOperations
10757000
CY2022Q1 prdo Provision For Doubtful Accounts Including Discontinued Operations
ProvisionForDoubtfulAccountsIncludingDiscontinuedOperations
13715000
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2294000
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2416000
CY2023Q1 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-304000
CY2022Q1 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-986000
CY2023Q1 prdo Increase Decrease In Operating Assets And Liabilities
IncreaseDecreaseInOperatingAssetsAndLiabilities
48992000
CY2022Q1 prdo Increase Decrease In Operating Assets And Liabilities
IncreaseDecreaseInOperatingAssetsAndLiabilities
31923000
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
4572000
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
22154000
CY2023Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
83777000
CY2022Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
194997000
CY2023Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
64344000
CY2022Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
59825000
CY2023Q1 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
1925000
CY2022Q1 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
4742000
CY2022Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
7000000
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-21358000
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-146914000
CY2023Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
247000
CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
659000
CY2023Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
815000
CY2022Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
3828000
CY2023Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2209000
CY2022Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1610000
CY2022Q1 prdo Payments For Release Of Escrow
PaymentsForReleaseOfEscrow
3986000
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-2777000
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-8765000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-19563000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-133525000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
118884000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
325178000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
99321000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
191653000
CY2023Q1 us-gaap Nature Of Operations
NatureOfOperations
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">1. DESCRIPTION OF THE COMPANY</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Perdoceo’s accredited academic institutions offer a quality postsecondary education primarily online to a diverse student population, along with campus-based and blended learning programs. The Company’s academic institutions – Colorado Technical University (“</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">CTU</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">”) and the American InterContinental University System (“</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">AIUS</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">” or “</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">AIU System</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">”) – provide degree programs from the associate through doctoral level as well as non-degree seeking and professional development programs. Our academic institutions offer students industry-relevant and career-focused academic programs that are designed to meet the educational needs of today’s busy adults. CTU and AIUS continue to show innovation in higher education, advancing personalized learning technologies like their intellipath® learning platform and using data analytics and technology to serve and educate students while enhancing overall learning and academic experiences. Perdoceo is committed to providing quality education that closes the gap between learners who seek to advance their careers and employers needing a qualified workforce.</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">As used in this Quarterly Report on Form 10-Q, the terms “we,” “us,” “our,” “the Company,” “Perdoceo” and “PEC” refer to Perdoceo Education Corporation and our wholly-owned subsidiaries.</span></p>
CY2023Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2023Q1 prdo Short Term Investment Continuous Unrealized Gain Loss Position Period
ShortTermInvestmentContinuousUnrealizedGainLossPositionPeriod
P1Y
CY2023Q1 us-gaap Equity Method Investments
EquityMethodInvestments
1200000
CY2023Q1 us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
431000
CY2022Q1 us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
433000
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
195598000
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
182959000
CY2023Q1 prdo Length Of Academic Year
LengthOfAcademicYear
P210D
CY2022Q4 us-gaap Contract With Customer Receivable Allowance For Credit Loss
ContractWithCustomerReceivableAllowanceForCreditLoss
43141000
CY2021Q4 us-gaap Contract With Customer Receivable Allowance For Credit Loss
ContractWithCustomerReceivableAllowanceForCreditLoss
39255000
CY2023Q1 prdo Gross Deferred Revenue
GrossDeferredRevenue
65832000
CY2022Q4 prdo Gross Deferred Revenue
GrossDeferredRevenue
107200000
CY2023Q1 us-gaap Contract With Customer Asset Gross
ContractWithCustomerAssetGross
21122000
CY2022Q4 us-gaap Contract With Customer Asset Gross
ContractWithCustomerAssetGross
35610000
CY2023Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
44710000
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
71590000
CY2022Q4 prdo Gross Deferred Revenue
GrossDeferredRevenue
107200000
CY2021Q4 prdo Gross Deferred Revenue
GrossDeferredRevenue
113719000
CY2023Q1 prdo Contract With Customer Liability Revenue Recognized Including Additions
ContractWithCustomerLiabilityRevenueRecognizedIncludingAdditions
84465000
CY2022Q1 prdo Contract With Customer Liability Revenue Recognized Including Additions
ContractWithCustomerLiabilityRevenueRecognizedIncludingAdditions
90939000
CY2023Q1 prdo Current Period Charges
CurrentPeriodCharges
153144000
CY2022Q1 prdo Current Period Charges
CurrentPeriodCharges
135196000
CY2023Q1 prdo Contract With Customers New Revenue During Period
ContractWithCustomersNewRevenueDuringPeriod
108854000
CY2022Q1 prdo Contract With Customers New Revenue During Period
ContractWithCustomersNewRevenueDuringPeriod
90388000
CY2023Q1 prdo Deferred Revenue Other Adjustments
DeferredRevenueOtherAdjustments
-1193000
CY2022Q1 prdo Deferred Revenue Other Adjustments
DeferredRevenueOtherAdjustments
262000
CY2023Q1 prdo Gross Deferred Revenue
GrossDeferredRevenue
65832000
CY2022Q1 prdo Gross Deferred Revenue
GrossDeferredRevenue
67850000
CY2023Q1 prdo Refund Liability Reserve
RefundLiabilityReserve
2400000
CY2022Q4 prdo Refund Liability Reserve
RefundLiabilityReserve
2500000
CY2023Q1 prdo Period Of Current Academic Year
PeriodOfCurrentAcademicYear
P210D
CY2023Q1 us-gaap Contract With Customer Receivable After Allowance For Credit Loss Noncurrent
ContractWithCustomerReceivableAfterAllowanceForCreditLossNoncurrent
1500000
CY2022Q4 us-gaap Contract With Customer Receivable After Allowance For Credit Loss Noncurrent
ContractWithCustomerReceivableAfterAllowanceForCreditLossNoncurrent
1900000
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.267
CY2023Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
10757000
CY2022Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
13715000
CY2023Q1 us-gaap Contract With Customer Asset Allowance For Credit Loss Writeoff
ContractWithCustomerAssetAllowanceForCreditLossWriteoff
10528000
CY2022Q1 us-gaap Contract With Customer Asset Allowance For Credit Loss Writeoff
ContractWithCustomerAssetAllowanceForCreditLossWriteoff
10264000
CY2023Q1 us-gaap Proceeds Contract With Customer Asset Previously Written Off Recovery
ProceedsContractWithCustomerAssetPreviouslyWrittenOffRecovery
574000
CY2022Q1 us-gaap Proceeds Contract With Customer Asset Previously Written Off Recovery
ProceedsContractWithCustomerAssetPreviouslyWrittenOffRecovery
951000
CY2023Q1 us-gaap Contract With Customer Receivable Allowance For Credit Loss
ContractWithCustomerReceivableAllowanceForCreditLoss
43944000
CY2022Q1 us-gaap Contract With Customer Receivable Allowance For Credit Loss
ContractWithCustomerReceivableAllowanceForCreditLoss
43657000
CY2023Q1 prdo Operating Lease Expiration Date
OperatingLeaseExpirationDate
2032
CY2023Q1 prdo Fixed Operating Lease Expenses
FixedOperatingLeaseExpenses
1696000
CY2022Q1 prdo Fixed Operating Lease Expenses
FixedOperatingLeaseExpenses
2767000
CY2023Q1 prdo Variable Operating Lease Expenses
VariableOperatingLeaseExpenses
581000
CY2022Q1 prdo Variable Operating Lease Expenses
VariableOperatingLeaseExpenses
815000
CY2023Q1 us-gaap Sublease Income
SubleaseIncome
311000
CY2022Q1 us-gaap Sublease Income
SubleaseIncome
276000
CY2023Q1 us-gaap Lease Cost
LeaseCost
1966000
CY2022Q1 us-gaap Lease Cost
LeaseCost
3306000
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
2866000
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
4555000
CY2023Q1 prdo Operating Cash Flows From Subleases
OperatingCashFlowsFromSubleases
292000
CY2022Q1 prdo Operating Cash Flows From Subleases
OperatingCashFlowsFromSubleases
274000
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P61M
CY2022Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P68M
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.048
CY2022Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.049
CY2023Q1 prdo Number Of Subleases
NumberOfSubleases
1
CY2023Q1 us-gaap Sublease Income
SubleaseIncome
300000
CY2022Q1 us-gaap Sublease Income
SubleaseIncome
300000
CY2023Q1 prdo Contingent Consideration Year Of Expected Payment Year And Month One
ContingentConsiderationYearOfExpectedPaymentYearAndMonthOne
2024-01
CY2023Q1 prdo Contingent Consideration Year Of Expected Payment Year And Month Two
ContingentConsiderationYearOfExpectedPaymentYearAndMonthTwo
2025-01
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
47053000
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
43834000
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
12569000
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
11756000
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.268
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
22500000
CY2022Q4 prdo Deferred Tax Assets Available For Sale Short Term Investments Valuation Allowance
DeferredTaxAssetsAvailableForSaleShortTermInvestmentsValuationAllowance
-1300000
CY2023Q1 prdo Deferred Tax Assets Available For Sale Short Term Investments Valuation Allowance
DeferredTaxAssetsAvailableForSaleShortTermInvestmentsValuationAllowance
-1000000.0
CY2023Q1 prdo Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost Plus Release Of Tax Reserves
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCostPlusReleaseOfTaxReserves
0.008
CY2022Q1 prdo Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost Plus Release Of Tax Reserves
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCostPlusReleaseOfTaxReserves
0.005
CY2023Q1 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit
6400000
CY2023Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
2600000
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2291000
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2412000
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
21000000.0
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P4Y
CY2022Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
50000000.0
CY2022Q1 us-gaap Stock Repurchase Program Expiration Date
StockRepurchaseProgramExpirationDate
2023-09-30
CY2022Q1 prdo Stock Repurchase Prior Program Expiration Date
StockRepurchasePriorProgramExpirationDate
2022-02-28
CY2023Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
800000
CY2023Q1 prdo Stock Repurchased During Period Value Weighted Average Price
StockRepurchasedDuringPeriodValueWeightedAveragePrice
13.61
CY2022Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
400000
CY2022Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
3800000
CY2022Q1 prdo Stock Repurchased During Period Value Weighted Average Price
StockRepurchasedDuringPeriodValueWeightedAveragePrice
10.56
CY2023Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
26000000.0
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
67235000
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
68746000
CY2023Q1 prdo Common Stock Equivalents
CommonStockEquivalents
1279000
CY2022Q1 prdo Common Stock Equivalents
CommonStockEquivalents
821000
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
68514000
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
69567000
CY2023Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
195598000
CY2023Q1 prdo Percentage Of Revenue
PercentageOfRevenue
1.000
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
182959000
CY2022Q1 prdo Percentage Of Revenue
PercentageOfRevenue
1.000
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
43336000
CY2022Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
43693000
CY2023Q1 us-gaap Assets
Assets
963012000
CY2022Q4 us-gaap Assets
Assets
957368000

Files In Submission

Name View Source Status
prdo-20230331_cal.xml Edgar Link unprocessable
0000950170-23-017893-index-headers.html Edgar Link pending
0000950170-23-017893-index.html Edgar Link pending
0000950170-23-017893.txt Edgar Link pending
0000950170-23-017893-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
img151082208_0.jpg Edgar Link pending
MetaLinks.json Edgar Link pending
prdo-20230331.htm Edgar Link pending
prdo-20230331.xsd Edgar Link pending
prdo-ex31_1.htm Edgar Link pending
prdo-ex31_2.htm Edgar Link pending
prdo-ex32_1.htm Edgar Link pending
prdo-ex32_2.htm Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
prdo-20230331_def.xml Edgar Link unprocessable
prdo-20230331_lab.xml Edgar Link unprocessable
prdo-20230331_pre.xml Edgar Link unprocessable
prdo-20230331_htm.xml Edgar Link completed
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending