Financial Data and Key Metrics Changes - SEI's revenue grew by 5% in Q1 2025, with adjusted operating income increasing by 16% [4] - Operating margin increased to 13.6%, and adjusted earnings per share grew 16% to $1.29 compared to $1.11 in Q1 2024 [5] Business Line Data and Key Metrics Changes - Total enrollment in U.S. Higher Education slightly increased, driven by a 7% rise in employer-affiliated enrollment, offset by lower unaffiliated enrollment [5] - U.S. Higher Education revenue grew by 1%, and operating income increased by 7% from the previous year [6] - ANZ total enrollment decreased by 1%, primarily due to lower international enrollment related to regulatory changes [6] - ANZ revenue increased by 6% on a constant currency basis, driven by pricing, despite reporting an operating loss of $2.2 million [7][8] - Education Technology Services (ETS) segment revenue grew by 45%, with operating income increasing by 37% [9] Market Data and Key Metrics Changes - The percentage of total U.S. higher education enrollment from corporate partnerships reached 31%, an increase of 200 basis points from the prior year [6] - Enrollments in Workforce Edge increased nearly 50%, reaching approximately 2,300 students [10] Company Strategy and Development Direction - The company is focusing on expanding corporate partnerships and deepening relationships in Workforce Edge to drive future growth [15] - There is a strategic shift towards increasing domestic enrollment in Australia and New Zealand [25] Management Comments on Operating Environment and Future Outlook - Management noted that the enrollment slowdown is part of normal cyclicality, with expectations for mid-single-digit growth in the future [14] - Confidence was expressed regarding the performance in 2025 aligning with the notional model outlined at Investor Day [31] Other Important Information - The company repurchased approximately 390,000 shares for a total of $32 million during the quarter, with $197 million remaining in share repurchase authorization [10] Q&A Session Summary Question: U.S. Higher Education enrollment growth has slowed; any specific changes? - Management indicated no changes in marketing or advertising, attributing the slowdown to normal cyclicality [14] Question: What is driving the strong EPS numbers? - The strength in Sofia and increased marketing investments were highlighted as key drivers [17] Question: Comments on persistence rates? - Persistence rates were stable, with slight improvements noted [23] Question: Discussion on international enrollment and domestic growth in ANZ? - Management explained that regulatory changes impacted international enrollment, while domestic marketing efforts have been increased [25][27] Question: Adjusted operating expenses were up; any comments? - Management confirmed that spending plans remain on track, with some timing differences in headcount affecting the first quarter [29] Question: Confidence in revenue growth aligning with the notional model? - Management expressed confidence that revenue growth would align with the 4% to 6% target [39]