0001193125-26-303175
SEC filingNotes reveal $50M buyback authorization with $46M remaining, $88.9M in contractual commitments, and $269.4M in cash and securities.
As of May 31, 2026, the company held $155.0 million in cash and cash equivalents, $3.0 million in restricted cash, and $111.5 million in marketable securities (current and noncurrent), totaling $269.4 million in liquid assets. Total shareholders' equity was $324.3 million. The company has no outstanding debt on its $100 million revolving credit facility, though a $28 million letter of credit is outstanding. Deferred revenue, a key liability, stood at $76.0 million.
Contractual obligations include $79.9 million in operating lease payments through 2031, with approximately $2.7 million due within one year, $32.9 million due within 1-3 years, and $44.4 million beyond three years. Additionally, the company has a sponsorship rights agreement with remaining payments of approximately $9 million through 2030. Other commitments include surety bonds under $1 million and a $28 million letter of credit supporting a sublease.
In April 2026, the board authorized a $50 million stock repurchase program. Through May 31, 2026, $4.0 million was used to repurchase 0.1 million shares at an average price of $29.29, leaving $46.0 million remaining. The company paid quarterly dividends of $0.21 per share totaling $17.4 million during the nine months ended May 31, 2026. Capital expenditures were $15.0 million, primarily for internal software development. There was no debt issuance or repayment.
Note 16 confirms a single operating and reportable segment: the University. For the nine months ended May 31, 2026, segment net revenue was $756.3 million, operating income was $91.4 million (12.1% margin), and net income was $64.9 million. Revenue grew 0.9% year-over-year, driven by a 2.2% increase in Average Total Degreed Enrollment, partially offset by higher discounts. No geographic segment data is provided.
The provided document excerpt consists entirely of notes to the unaudited condensed consolidated financial statements for Phoenix Education Partners, Inc. It includes discussions on accounting policies, seasonality, revenue recognition, related party transactions, and new accounting standards. However, it does not contain the actual Consolidated Statements of Cash Flows or any numerical data from those statements. Therefore, no analysis of operating, investing, or financing cash flows, capital expenditures, free cash flow, or capital returns can be performed. The document is insufficient for the requested cash flow analysis.