PXED Filings — Phoenix Education Partners, Inc. - FilingSpy
PXED
Phoenix Education Partners, Inc.
One of the largest online universities in the US, the University of Phoenix serves working adults with career-focused degree and certificate programs. It was founded in 1976 by John Sperling, a San Jose State professor who wanted higher education to fit around jobs and family, and opened its first class with just eight students. It became one of the first universities to offer programs fully online, and its parent company, Phoenix Education Partners, went public in 2025.
Phoenix Education Partners reports Q3 FY2026 net revenue of $271.8 million
Third quarter 2026 net revenue was $271.8 million, compared to $271.7 million in the prior year period.
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Net income attributable to Phoenix Education Partners for Q3 2026 was $39.2 million, or $1.01 diluted EPS, down from $53.8 million, or $1.42 diluted EPS, in Q3 2025.
Adjusted EBITDA for Q3 2026 was $78.1 million, compared to $83.4 million in Q3 2025; adjusted diluted EPS was $1.43 versus $1.57.
For fiscal year 2026, the company expects net revenue between $1,020.0 million and $1,025.0 million and adjusted EBITDA between $246.0 million and $250.0 million.
The company declared a regular cash dividend of $0.21 per share, payable August 14, 2026, and repurchased 0.1 million shares for $4.0 million during Q3 2026.
2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits
Robert Brackenbury appointed to Phoenix Education Partners board as Class I director
He previously served at the State of Michigan Retirement System from 2010 to 2026, most recently as Deputy Chief Investment Officer overseeing over $170 billion in assets.
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On July 9, 2026, Robert Brackenbury was appointed to the Board of Directors of Phoenix Education Partners, Inc. as a Class I director.
Mr. Brackenbury will serve on the audit committee of the Board.
He entered into a standard indemnification agreement with the Company and will be eligible for director compensation as described in the 2025 Proxy Statement.
No arrangements or understandings led to his selection, and no reportable transactions under Item 404(a) exist.
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements
Phoenix Education Partners reports Q2 FY2026 revenue of $222.5M, net income of $10.8M
Second quarter 2026 net revenue was $222.5 million, down from $223.4 million in the prior-year quarter.
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Net income attributable to Phoenix Education Partners was $10.8 million, or $0.28 diluted EPS, compared to $16.1 million, or $0.43 diluted EPS, in Q2 2025.
Adjusted EBITDA for Q2 2026 was $34.8 million, up from $32.3 million in Q2 2025; adjusted diluted EPS was $0.58 versus $0.56.
For fiscal year 2026, the company expects net revenue between $1,025.0 million and $1,035.0 million and Adjusted EBITDA between $244.0 million and $249.0 million.
The Board approved a $0.21 per share dividend payable May 22, 2026, and a $50 million share repurchase program.
2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits
Phoenix Education Partners holds 2026 annual meeting, elects three Class I directors and ratifies Deloitte & Touche as auditor.
Stockholders elected Peter Cohen, Itai Wallach, and Johannes Worsoe as Class I directors, with terms expiring at the 2029 annual meeting.
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The annual meeting of stockholders was held on February 12, 2026.
Peter Cohen received 32,460,035 votes for (94.2%), Itai Wallach received 31,534,392 (91.5%), and Johannes Worsoe received 31,943,898 (92.7%).
The appointment of Deloitte & Touche LLP as independent registered public accounting firm for fiscal year ending August 31, 2026 was ratified with 34,309,640 votes for (99.2%).
The report was filed under Item 5.07 to disclose the voting results of these stockholder matters.
5.07 Submission of Matters to a Vote of Security Holders
Phoenix Education Partners reports Q1 FY2026 revenue of $262.0M, net income of $15.5M
Net revenue for the three months ended November 30, 2025 was $262.0 million, up from $254.7 million in the prior-year quarter.
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Net income attributable to Phoenix Education Partners was $15.5 million, or $0.40 diluted EPS, compared to $46.4 million, or $1.23 diluted EPS, in Q1 2025.
Adjusted EBITDA was $75.2 million for Q1 2026, compared to $70.1 million in Q1 2025; adjusted diluted EPS was $1.38 versus $1.35.
Average Total Degreed Enrollment was 85,600, up from 82,200 in the prior-year quarter.
For fiscal year 2026, the company expects net revenue between $1,025.0 million and $1,035.0 million and Adjusted EBITDA between $244.0 million and $249.0 million.
2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits
The incident was detected on November 21, 2025, and the company believes the vulnerability was exploited in August 2025 to copy certain data.
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The University of Phoenix, a subsidiary of Phoenix Education Partners, experienced a cybersecurity incident involving unauthorized access to its Oracle E-Business Suite (Oracle EBS) platform.
Personal information potentially accessed includes names, contact information, dates of birth, social security numbers, and bank account and routing numbers.
The company has installed Oracle EBS patches released in October 2025 and is working with third-party cybersecurity firms; the investigation is ongoing.
The company believes the incident will not have a material adverse effect on its business operations or student programming, and it maintains cybersecurity insurance covering related costs.
Phoenix Education Partners reports Q4 FY2025 revenue of $257.4M and net income of $17.6M
Fourth quarter 2025 net revenue was $257.4 million, up from $240.2 million in Q4 2024.
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Fourth quarter 2025 net income was $17.6 million, compared to $10.0 million in Q4 2024.
Fiscal year 2025 net revenue totaled $1,007.2 million, up from $950.0 million in fiscal 2024.
Fiscal year 2025 net income was $135.4 million, compared to $115.1 million in fiscal 2024.
For fiscal year 2026, the company expects revenue between $1,025.0 million and $1,035.0 million and Adjusted EBITDA between $244.0 million and $249.0 million.
2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits
On November 13, 2025, Phoenix Education Partners, Inc. entered into a Revolving Credit Agreement with Morgan Stanley Senior Funding, Inc. as administrative agent.
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The agreement provides a senior secured revolving credit facility of $100 million, available for general corporate purposes including letters of credit.
The facility matures on November 13, 2030, and allows voluntary prepayments without premium or penalty, subject to customary breakage costs.
Borrowings bear interest at either term SOFR plus 2.50% or a base rate plus 1.50%, with a commitment fee of 0.375% on unutilized commitments.
The facility is guaranteed by material domestic subsidiaries and secured by substantially all assets, with customary covenants and a maximum net first lien leverage ratio of 2.50 to 1.00.
1.01 Entry into a Material Definitive Agreement · 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement · 9.01 Financial Statements and Exhibits