Financial Data and Key Metrics Changes - Revenue for Q3 fiscal 2025 reached $18.6 million, a 50.7% increase from $12.3 million in Q3 fiscal 2024 [6][10] - Net income increased by 57.1% to $2.8 million or $0.21 per diluted share compared to $1.8 million or $0.19 per diluted share in Q3 fiscal 2024 [11] - Adjusted EBITDA rose 60% to $3.9 million from $2.4 million last year [11][12] - Cash and cash equivalents stood at $17.3 million, with working capital of $22 million as of March 31, 2025 [9][12] Business Line Data and Key Metrics Changes - Educational services revenue was $10.1 million, accounting for 54.4% of total revenue, up from 53.1% in Q3 fiscal 2024 [11] - New student starts surged by 70.7%, contributing to a 49.8% increase in ending enrollment, reaching 3,245 students [6][10] Market Data and Key Metrics Changes - The company reported strong enrollment trends across all six campuses located in high job growth areas in California [9] - The overall nursing NCLEX pass rate was 83%, with an average placement rate of 75.6% through the accreditor ABHES [8] Company Strategy and Development Direction - The company aims to drive enrollment growth, expand program offerings, optimize operational efficiency, and pursue branching and accretive acquisitions [14][17] - New programs are being added in high-demand fields such as sterile processing, surgical technician, and EMT [16][17] - The integration of Contra Costa Medical Career College is progressing smoothly, unlocking new market opportunities [9][17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued momentum, citing strong demand for healthcare professionals and the effectiveness of their marketing strategies [14][17] - The company is well-positioned to navigate regulatory dynamics and maintain compliance with Title IV and accreditation standards [17] Other Important Information - The company has made significant strides in expanding hybrid learning models and leveraging advanced simulation technology [9] - Capital expenditures for the nine months were $800,000, primarily for campus enhancements and technology upgrades [12] Q&A Session Summary Question: What contributed to the quarter's outperformance? - Management noted strong performance in medical assisting, nursing, cardiac, UT, and MRI programs, with additional nursing and imaging classes leading to increased enrollments [20][21] Question: What does the acquisition pipeline look like? - Management confirmed ongoing discussions regarding potential acquisitions but did not disclose specific details [28][40] Question: Can you provide insights on the EMT program? - The EMT program is currently approved at the Temecula campus and is a 12-week course, with plans to roll it out to additional campuses pending state and county approvals [37][38]

Financial Data and Key Metrics Changes - Revenue for Q2 2025 increased nearly 13% year over year to $207.4 million [10][24] - Average full-time active students grew over 10% year over year to 24,604 students [10][22] - New student starts grew more than 21% year over year to 6,650 starts [10][22] - Net income increased 47% to $11.4 million with diluted earnings per share of $0.21 [10][24] - Adjusted EBITDA grew approximately 28% year over year to $28.9 million [10][24] Business Line Data and Key Metrics Changes - Concord division revenue increased 20.3% year over year to $73.2 million, with average full-time active students up 15.5% [23] - UTI division revenue increased 8.8% year over year to $134.2 million, with average full-time active students up 7% [23] Market Data and Key Metrics Changes - Demand for skilled labor, particularly in trades and healthcare, continues to strengthen, creating a favorable environment for the company's growth [8][9] - The ongoing supply and demand imbalance in critical sectors is generating additional tailwinds for the business [8] Company Strategy and Development Direction - The company is committed to growth, diversification, and optimization as part of its North Star strategy, with plans to launch at least six new programs each year and open at least two new campuses annually starting in fiscal 2026 [20][31] - The company is raising its fiscal 2025 guidance, expecting consolidated revenue between $825 million and $835 million, reflecting approximately 13% year-over-year growth [17][25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's growth trajectory despite regulatory uncertainties and macroeconomic conditions [7][10] - The company is well-positioned to capitalize on the increasing demand for skilled trades and healthcare professionals [18][31] Other Important Information - The company has recently appointed a new CFO and COO to support its growth strategy [18][19] - The company is actively pursuing strategic acquisitions to enhance its educational reach and complement its portfolio, particularly in healthcare [31] Q&A Session Summary Question: Any campuses or programs to highlight for strong new starts? - Management noted that increased marketing investment in healthcare and strong performance in clinical courses contributed to new starts [36][37] Question: How does enrollment growth break out for UTI and Concord? - Management indicated that Concord is approaching capacity in clinical courses, while UTI is seeing strong demand in skilled trades [42][43] Question: What trends are observed in employer demand for graduates? - Management reported steady demand for transportation graduates and increasing demand for skilled trades and healthcare graduates [53][56] Question: What could go wrong in achieving the low end of guidance? - Management expressed confidence in the guidance but acknowledged potential challenges in maintaining double-digit growth rates in the upcoming periods [81][83]