Adtalem Global Education Inc.
For the period ended Sep 30, 2025. Filed Oct 30, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Oct 30, 2025
CVSA$116.50+2.2%Stored close · as of Nov 10, 2026
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Consolidated Statements of Cash Flows
(in thousands)
| | | | | | | |
|---|---|---|---|---|---|---|
| · · Three Months Ended | ||||||
| · · September 30, | ||||||
| · · 2025 · · 2024 | ||||||
| Operating activities: | | | | | | |
| Net income | | $61,832 | | $46,165 | ||
| (Income) loss from discontinued operations | | (770) | | 80 | ||
| Income from continuing operations | | | 61,062 | | | 46,245 |
| Adjustments to reconcile net income to net cash provided by operating activities: | | | | | ||
| Stock-based compensation | | 8,293 | | 9,451 | ||
| Amortization of operating lease assets | | | 7,216 | | | 6,948 |
| Depreciation | | 10,296 | | 9,803 | ||
| Amortization of acquired intangible assets | | 2,805 | | 2,805 | ||
| Amortization and write-off of debt discount and issuance costs | | | 1,145 | | | 1,113 |
| Provision for bad debts | | | 14,883 | | | 13,720 |
| Deferred income taxes | | 54,413 | | 16,456 | ||
| Loss on disposals and impairments of property and equipment | | 2 | | 107 | ||
| Gain on investments | | | (680) | | | (613) |
| Changes in assets and liabilities: | | | | | ||
| Accounts and financing receivables | | (62,690) | | (56,803) | ||
| Prepaid expenses and other current assets | | (29,841) | | (7,389) | ||
| Cloud computing implementation assets | | (4,812) | | (7,888) | ||
| Accounts payable | | 1,378 | | (8,508) | ||
| Accrued payroll and benefits | | | (24,359) | | | (21,501) |
| Accrued liabilities | | (12,287) | | (8,467) | ||
| Deferred revenue | | 109,082 | | 106,156 | ||
| Operating lease liabilities | | | (4,317) | | | (7,232) |
| Other assets and liabilities | | (960) | | (4,836) | ||
| Net cash provided by operating activities-continuing operations | | 130,629 | | 89,567 | ||
| Net cash used in operating activities-discontinued operations | | (80) | | (251) | ||
| Net cash provided by operating activities | | 130,549 | | 89,316 | ||
| Investing activities: | | | | | | |
| Capital expenditures | | (16,023) | | (10,414) | ||
| Proceeds from sales of marketable securities | | 100 | | 2,187 | ||
| Purchases of marketable securities | | (100) | | (1,308) | ||
| Net cash used in investing activities | | (16,023) | | (9,535) | ||
| Financing activities: | | | | | | |
| Proceeds from exercise of stock options | | 131 | | 9,498 | ||
| Employee taxes paid on withholding shares | | (39,119) | | (10,717) | ||
| Proceeds from stock issued under Colleague Stock Purchase Plan | | 411 | | 298 | ||
| Repurchases of common stock for treasury | | (7,595) | | (33,190) | ||
| Proceeds from issuance of long-term debt | | — | | 9,873 | ||
| Repayments of long-term debt | | — | | (9,873) | ||
| Payment of debt issuance costs | | (3,333) | | — | ||
| Net cash used in financing activities | | (49,505) | | (34,111) | ||
| Net increase in cash, cash equivalents and restricted cash | | 65,021 | | 45,670 | ||
| Cash, cash equivalents and restricted cash at beginning of period | | 201,164 | | 221,202 | ||
| Cash, cash equivalents and restricted cash at end of period | | $266,185 | | $266,872 | ||
| Non-cash investing and financing activities: | | | | | | |
| Accrued capital expenditures | | $4,727 | | $4,193 | ||
| Accrued liability for repurchases of common stock | | $— | | $800 | ||
| Accrued excise tax on share repurchases | | $1,630 | | $3,259 | ||
| Accrued debt issuance costs | | $437 | | $— | ||
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