UNITED STATES SECURITIES AND EXCHANGE COMMISSION FORM 10-K Washington, D.C. 20549 (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 0-23245 PERDOCEO EDUCATION CORPORATION (Exact name of Registrant as specified in its charter) | Delaware | 36-3932190 | | --- | --- | | ( ...

Financial Data and Key Metrics Changes - Net income for Q3 2022 was $22.1 million, down from $27.8 million in the prior year, equating to $0.32 per diluted share compared to $0.39 [10][18] - Total revenue for the quarter was $168.4 million, approximately 3.2% lower than the prior year quarter [18] - Adjusted earnings per diluted share was $0.39, down from $0.45 in the prior year quarter [18] Business Line Data and Key Metrics Changes - Total student enrollments declined by 2.1% compared to the prior year quarter, an improvement from the 7% decline in Q2 [11][20] - At CTU, total students increased by 2.7%, while at AIU System, total students decreased by 9.5% [11][20] - Revenue at CTU was $97.6 million, a decrease of 6.9% from the prior year quarter, while AIU System revenue was $70.6 million, an increase of 2.4% due to recent acquisitions [22][23] Market Data and Key Metrics Changes - The corporate partnership program contributed to total enrollment growth at CTU, with students participating in these programs typically experiencing higher retention and better academic outcomes [19][20] - The rate of decline in total student enrollments at AIU System has moderated from double-digit declines in the first half of the year [21] Company Strategy and Development Direction - The company continues to invest in technology upgrades and data analytics to enhance student engagement and retention [7][12] - A balanced approach to capital allocation is maintained, focusing on enhancing shareholder value while investing in student-related initiatives [33] Management's Comments on Operating Environment and Future Outlook - Management expressed satisfaction with the operating results and improvements in student engagement and retention, expecting full-year adjusted operating income to be between $157 million to $160 million [30] - The company anticipates fourth-quarter adjusted operating income to be between $25.5 million to $28.5 million, down from $42 million in the prior year quarter [31] Other Important Information - The effective tax rate for Q3 was 29.5%, impacted by a valuation allowance increase related to state net operating losses [26] - Cash and cash equivalents as of September 30, 2022, were $525.2 million, an increase from $499.4 million at year-end 2021 [27] Q&A Session Summary Question: What are the expectations for student enrollment trends moving forward? - Management noted that while total enrollments at AIU System have declined, the rate of decline has moderated, and they expect CTU enrollments to grow year-over-year [20][21] Question: How is the corporate partnership program impacting financial performance? - The corporate partnership program is expected to lead to higher retention and better academic outcomes, although it may result in lower revenue in the short term due to high tuition grants [19][20]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number: 0-23245 PERDOCEO EDUCATION CORPORATION (Exact name of registrant as specified in its charter) Delaware 36-3932190 (State or oth ...

Perdoceo Education Corporation (NASDAQ:PRDO) Q2 2022 Earnings Conference Call August 8, 2022 5:30 PM ET Company Participants Davis Snyder - Alpha IR Group Andrew Hurst - President and Chief Executive Officer Ashish Ghia - Chief Financial Officer Todd Nelson - Executive Chairman Conference Call Participants Alex Paris - Barrington Research Operator Good afternoon, everyone. Thank you for joining today's Perdoceo Education Corporation Second Quarter Earnings Conference Call. My name is Dante and I'll be your ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number: 0-23245 PERDOCEO EDUCATION CORPORATION (Exact name of registrant as specified in its charter) Delaware 36-3932190 (State or other ju ...

Perdoceo Education Corporation (NASDAQ:PRDO) Q1 2022 Earnings Conference Call May 5, 2022 5:30 PM ET Company Participants Davis Snyder – Alpha IR Group Todd Nelson – Executive Chairman Andrew Hurst – President and Chief Executive Officer Ashish Ghia – Chief Financial Officer Conference Call Participants Alex Paris – Barrington Research Operator Good afternoon. Thank you for attending today’s Perdoceo First Quarter Fiscal 2022 Conference Call. My name is Tania, and I will be your moderator for today’s call. ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number: 0-23245 PERDOCEO EDUCATION CORPORATION (Exact name of registrant as specified in its charter) Delaware 36-3932190 (State or other j ...

Perdoceo Education, Corp. (NASDAQ:PRDO) Q4 2021 Earnings Conference Call February 24, 2022 5:30 PM ET Corporate Participants Davis Snyder - Alpha IR Group Todd Nelson - Executive Chairman Andrew Hurst - Chief Executive Officer Ashish Ghia - Chief Financial Officer Conference Call Participants Alex Paris - Barrington Research Operator Good evening, and thank you for attending today’s Perdoceo Education Corporation Fourth Quarter 2021 Earnings Conference Call. My name Selina and I will be your moderator. [Ope ...

(Mark One) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 FORM 10-K For the fiscal year ended December 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 0-23245 PERDOCEO EDUCATION CORPORATION (Exact name of Registrant as specified in its charter) | Delaware | 36-3932190 | | --- | --- | | ( ...

Financial Data and Key Metrics Changes - For Q3 2021, the company reported net income of $27.8 million or $0.39 per diluted share, while adjusted earnings per diluted share was $0.45, an increase from $0.35 in the prior year [9][23] - Revenue for the quarter increased to $174 million compared to $169.1 million, driven by growth at CTU, partially offset by a decline at AIU [24] - Adjusted operating income increased by 28.4% to $46.3 million for the quarter versus $36.1 million in the prior year [22] Business Line Data and Key Metrics Changes - Total student enrollments at CTU increased by 7.5%, while revenue increased by 5.9% to $104.8 million [24] - At AIU, total student enrollments decreased by 11.6%, and revenue decreased by 1.6% to $68.9 million, although operating income increased by 51.2% to $8.3 million due to lower marketing and admission expenses [25] Market Data and Key Metrics Changes - Total student enrollments across the company decreased by 0.9% compared to the previous year, with CTU's growth offsetting declines at AIU [15] - Triton University continued to be impacted by technical challenges related to the Army education and registration portal, affecting its military-affiliated student population [16] Company Strategy and Development Direction - The company is focusing on enhancing student experiences through investments in technology and marketing adjustments aimed at improving student retention and academic outcomes [8][13] - Recent acquisitions of DigitalCrafts and Hippo Education are expected to expand the company's non-degree portfolio and provide growth opportunities [10][11] Management's Comments on Operating Environment and Future Outlook - Management noted that the prolonged pandemic has impacted student engagement, with some students pausing their academic programs [12] - There is cautious optimism regarding enrollment trends, with positive signs observed in September and October sessions [12] Other Important Information - The company ended the quarter with $481 million in cash and equivalents, an increase of approximately $70.6 million over year-end 2020 [30] - Capital expenditures for Q3 were approximately $3.2 million, with expectations to maintain around 2% of revenues for full-year 2021 [33] Q&A Session Summary Question: Adjustments to marketing and admissions - Management explained that adjustments were made to marketing expenses to better target prospective students, with a focus on those likely to succeed [44][46] Question: Enrollment softness and its causes - Management acknowledged that external factors, including financing and pandemic-related issues, have led to delays in students' decisions to start classes [49] Question: Impact of academic calendar redesign - The positive enrollment growth at CTU was significantly attributed to the academic calendar redesign, although exact impacts without the redesign were not calculated [52][53] Question: Profitability of recent acquisitions - The recent acquisitions are expected to be cash flow neutral or slightly positive, but specific EBITDA information was not disclosed [54][55] Question: Fourth-quarter guidance and revenue timing - Management indicated that the fourth-quarter guidance reflects potential timing differences in revenue recognition, particularly influenced by the academic calendar [57][59]