Phoenix Education Partners Reports Q1 Growth as IPO Costs Trim Profit, Declares Dividend

Overview

• Net revenue rose 2.9% to $262.0 million with Average Total Degreed Enrollment up 4.1% to 85,600, and adjusted EBITDA increased 7.2% to $75.2 million.
• GAAP net income attributable was $15.5 million, with management citing IPO-related expenses, including share-based compensation, as the primary drag on profit.
• Cash and marketable securities totaled $218.1 million with no outstanding debt and an undrawn $100 million revolving credit facility as of November 30, 2025.
• The Board approved a $0.21 per-share quarterly cash dividend payable February 18, 2026 to shareholders of record on January 28, 2026.
• Fiscal 2026 guidance was reiterated at $1.025–$1.035 billion in revenue and $244–$249 million in adjusted EBITDA, and the company reported $4.5 million in costs tied to a remediated Oracle-related cybersecurity incident.