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Perdoceo Education
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Latest analysis
Updated Nov 5, 2026
Perdoceo Q3 2026: South University acquisition on track for April 2027; USAHS revenue up 9.8% as health sciences becomes growth engine
USAHS is now Perdoceo's fastest-growing segment, with Q3 revenue up 9.8% and operating income surging from $66,000 to $4.6 million year-over-year — a structural shift that the pending South University acquisition ($130M-$150M at closing, plus up to $56M in earn-out) will amplify. Total Q3 revenue grew 1.9% to $215.9 million and adjusted EPS rose 18.5% to $0.77, with operating cash flow nearly doubling to $79.7 million, giving Perdoceo $776.9 million in cash to fund the transaction without debt. CTU enrollment declined 0.5% and AIUS revenue fell 0.1% for the quarter, confirming that growth is concentrated in health sciences while legacy tech-focused units stabilize.
Tone: bullishRevenue
$846.1M
PRDO 10-K · FY 2025
Employees
6,000
Revenue FY2024
$681.3M
Headquarters
Schaumburg, IL
Profile
PRDO 10-K Item 1 · Feb 19, 2026Perdoceo Education Corporation operates three accredited postsecondary institutions — Colorado Technical University (CTU), the American InterContinental University System (AIUS), and University of St. Augustine for Health Sciences (USAHS) — serving approximately 44,400 students primarily through fully online programs. The company targets non-traditional adult learners with career-focused degree programs ranging from associate through doctoral levels, differentiated by proprietary personalized learning technology and data analytics. A majority of its revenue derives from Title IV federal student aid programs, subjecting it to extensive and evolving regulatory oversight.
Read filing description ↓ Collapse description ↑
Perdoceo's accredited academic institutions offer a quality postsecondary education to a diverse student population, with fully online, campus-based and hybrid learning programs. The Company's academic institutions – Colorado Technical University ('CTU'), the American InterContinental University System ('AIUS' or 'AIU System') and University of St. Augustine for Health Sciences ('USAHS') – provide degree programs from the associate through doctoral level as well as non-degree seeking and professional development programs. Our academic institutions offer students industry-relevant and career-focused academic programs that are designed to meet the educational needs of today's busy adults. CTU and AIUS continue to show innovation in higher education, advancing personalized learning technologies like their intellipath® learning platform and using data analytics and technology to serve and educate students while enhancing overall learning and academic experiences. USAHS prepares medical professionals to provide quality medical care to communities across the country primarily through its graduate health sciences degree offerings in physical therapy, occupational therapy, speech language therapy and nursing, as well as continuing education programs. Perdoceo's academic institutions are committed to providing quality education that closes the gap between learners who seek to advance their careers and employers and communities needing a qualified workforce. We aim to establish our academic institutions as leading online postsecondary education providers for non-traditional students, including adult learners. Technology is a key enabler for us, and we are continuing to explore and utilize artificial intelligence within the student enrollment and academic life cycle to enhance student experiences.
Primary products
- Online degree programs (associate through doctoral)
- Campus-based and hybrid degree programs
- Non-degree professional development programs
- Online bootcamps and upskilling courses
- Graduate health sciences programs (physical therapy, occupational therapy, speech-language pathology, nursing)
- Continuing education programs
Business segments
End markets
Geographies
“Although competition exists, for-profit institutions serve a segment of the postsecondary education market that we believe is not fully addressed by traditional public and private non-profit universities.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Total revenue increased from $681.3 million in 2024 to $846.1 million in 2025, driven by enrollment growth across all three institutions including the full-year contribution of the USAHS acquisition.
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Analysis, signals, diligence answers, M&A activity and every quote, each citing the filing it came from.