0001193125-25-289786
SEC filingPhoenix Education Partners generated $1.007B revenue with $46.4M in strategic and restructuring charges, and paid $214.4M in capital distributions.
As of August 31, 2025, Phoenix Education Partners held $136.5M in cash and cash equivalents, plus $21.8M in marketable securities, for total liquidity of $158.3M. Restricted cash of $36.5M is held primarily for Title IV program requirements and a collateralized letter of credit. The company has no outstanding debt, with only operating lease liabilities of $73.3M. Shareholders' equity stood at $240.1M, down from $348.9M due to large capital distributions.
The most notable commitment is a sponsorship rights agreement for a stadium, with remaining payments of approximately $11M through 2030. The company also has a $32M collateralized letter of credit supporting an exited facility sublease. No material purchase commitments for inventory or capacity were disclosed. The University's PPA was renewed through June 2031, and the 90/10 rule percentage was 88.6%, below the 90% threshold.
During FY2025, the company paid $214.4M in capital distributions to limited partners ($6.16 per share). Capital expenditures were $22.5M (2.2% of revenue), primarily for software and leasehold improvements. No share repurchases were made. Subsequent to year-end, the company entered a $100M revolving credit facility (undrawn) and completed an IPO, which did not generate proceeds for the company but converted partnership units to common stock.
The company operates as a single reportable segment: the University of Phoenix, which generates all consolidated net revenue. No geographic mix is disclosed as all operations are U.S.-based. Segment profitability is evaluated through operating income, which was $172.1M in FY2025 versus $152.0M in FY2024.
The provided document excerpt does not include the Consolidated Statements of Cash Flows. Only the balance sheet and income statement are presented. Therefore, no cash flow analysis can be performed. The cash flow statement is referenced but its numerical data is absent from the input.