Financial Performance - Fourth quarter 2025 revenue was $257.4 million, an increase of 7.5% from $240.2 million in the fourth quarter of 2024[3] - Fiscal year 2025 revenue totaled $1,007.2 million, up 6.0% from $950.0 million in fiscal year 2024[4] - Net income for fourth quarter 2025 was $17.6 million, a 76% increase from $10.0 million in fourth quarter 2024[3] - Adjusted EBITDA for fourth quarter 2025 was $56.6 million, up 36.2% from $41.6 million in fourth quarter 2024[4] - Fiscal year 2025 Adjusted EBITDA was $243.9 million, an increase of 6.0% from $229.1 million in fiscal year 2024[7] - Operating income for the year ended August 31, 2025, was $172,131,000, up 13.3% from $151,986,000 in 2024[27] - Net income attributable to Phoenix Education Partners, Inc. for the three months ended August 31, 2025, was $17,496,000, compared to $9,822,000 in 2024, reflecting a 78.3% increase[27] - Basic earnings per share for the year ended August 31, 2025, was $3.77, an increase from $3.19 in 2024, marking a 18.2% growth[27] - Net income for Q3 2025 was $17,570,000, compared to $10,019,000 in Q3 2024, representing a 75.7% increase[33] - Adjusted Net Income for the year ended August 31, 2025, was $172,980,000, up from $166,529,000 in 2024, reflecting a 3.3% growth[33] Enrollment and Operational Metrics - Average Total Degreed Enrollment for fourth quarter 2025 was 79,300, compared to 75,000 in the same quarter of 2024, reflecting a growth of 4.3%[3] - The company completed the closure of its ground campuses, with only one physical location currently enrolling new students[33] Cash and Assets - As of August 31, 2025, cash and cash equivalents totaled $194.8 million, down from $382.9 million as of August 31, 2024[10] - Total current assets decreased to $265,950,000 as of August 31, 2025, down from $441,466,000 in 2024, a decline of 39.7%[30] - Cash and restricted cash at the end of the year was $173,001,000, down from $356,170,000 at the beginning, reflecting a decrease of 51.4%[31] Liabilities and Equity - The company had no outstanding debt as of August 31, 2025, and entered into a $100.0 million senior secured revolving credit facility on November 13, 2025[11] - Total liabilities decreased to $253,507,000 as of August 31, 2025, compared to $346,320,000 in 2024, a reduction of 26.8%[30] - Total equity decreased to $240,055,000 as of August 31, 2025, down from $348,930,000 in 2024, a decline of 31.1%[30] Cash Flow and Credit Losses - Net cash provided by operating activities for the year ended August 31, 2025, was $87,387,000, down from $163,236,000 in 2024, a decrease of 46.5%[31] - The company reported a provision for credit losses on accounts receivable of $47,674,000 for the year ended August 31, 2025, compared to $40,532,000 in 2024, an increase of 17.7%[31] Special Items and Expenses - Special items and share-based compensation for Q3 2025 totaled $39,632,000, compared to $29,931,000 in Q3 2024, a 32.5% increase[33] - Restructuring lease expenses for the year ended August 31, 2025, were $6,365,000, down from $15,201,000 in 2024[33] - Strategic alternatives expenses for Q3 2025 were $19,941,000, significantly higher than $6,012,000 in Q3 2024[33] Future Outlook - The company expects fiscal year 2026 revenue to be in the range of $1,025.0 million to $1,035.0 million[12] Tax Rates - The non-GAAP effective tax rates were 24.6% for fiscal year 2025 and 24.7% for fiscal year 2024[34]
AP VIII Queso Holdings(PXED) - 2025 Q3 - Quarterly Results