Phoenix Education Partners, Inc. Reports Second Quarter Fiscal Year 2026 Results

Phoenix Education Partners, Inc. reported financial results for the three and six months ended February 28, 2026. For the second quarter, net revenue was $222.5 million, a slight decrease from $223.4 million in the prior year quarter. Average Total Degreed Enrollment was 82,600, up from 81,100 in the prior year. Net income attributable to the company decreased to $10.8 million ($0.28 diluted EPS) from $16.1 million ($0.43 diluted EPS) in the prior year, primarily due to share-based compensation from the IPO. Adjusted EBITDA was $34.8 million, up from $32.3 million, and adjusted diluted EPS was $0.58, up from $0.56. For the first six months, net revenue increased to $484.5 million from $478.1 million, while average enrollment rose to 84,100 from 81,700. Net income decreased to $26.2 million ($0.68 diluted EPS) from $62.5 million ($1.66 diluted EPS), again due to IPO-related compensation. Adjusted EBITDA increased to $110.0 million from $102.4 million, and adjusted diluted EPS rose to $1.97 from $1.92. The company announced a regular cash dividend of $0.21 per share and a new $50 million share repurchase program. As of February 28, 2026, cash and cash equivalents totaled $252.1 million. The company expects full-year fiscal 2026 net revenue between $1,025.0 million and $1,035.0 million, with Adjusted EBITDA between $244.0 million and $249.0 million.