0001628280-26-028580
SEC filingRevenue grew 15.4% to $272.6M, driven by FX tailwinds from the Mexican peso, but operating loss widened to $27.5M due to academic calendar timing and higher costs.
The company maintains a strong liquidity position, with sufficient cash flow from operations to satisfy working capital and financing needs for organic growth plans. A significant portion of direct costs are variable and trend with enrollment, and management continues to monitor and improve instructional delivery efficiency.
Management plans to grow organically by adding programs, expanding student demographics, and increasing campus capacity. The company intends to continue share repurchases using free cash flow and available liquidity. Key risks include foreign exchange fluctuations, regulatory changes in Mexico and Peru, and the seasonal nature of enrollment cycles. No quantitative guidance was provided.