Phoenix Education Partners, Inc.
For the period ended May 31, 2026. Filed Jul 14, 2026.
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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.
May 31, 2026 · Filed Jul 14, 2026
PXED$19.22-0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| Nine Months Ended May 31, | ||
|---|---|---|
| ($ in thousands) | 2026 | 2025 |
| Operating activities: | ||
| Net income | $64,853 | $117,871 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Share-based compensation | 47,624 | 1,908 |
| Depreciation and amortization | 16,800 | 16,348 |
| Non-cash lease expense | 5,388 | 5,370 |
| Impairment charges and asset disposal losses | 609 | 113 |
| Provision for credit losses on accounts receivable | 24,585 | 35,885 |
| Deferred income taxes | 6,931 | 28,885 |
| Changes in assets and liabilities, excluding the impact of acquisition: | ||
| Accounts receivable | (62,103) | (76,715) |
| Prepaid income taxes | (5,013) | (276) |
| Other assets | (1,948) | 983 |
| Accounts payable | (1,321) | (11,197) |
| Accrued compensation and benefits | (8,977) | (11,383) |
| Student deposits | (3,455) | (70,862) |
| Deferred revenue | 38,836 | 28,742 |
| Operating lease liabilities | (7,599) | (8,510) |
| Other liabilities | 1,474 | (5,373) |
| Net cash provided by operating activities | 116,684 | 51,789 |
| Investing activities: | ||
| Purchases of property and equipment | (15,005) | (16,399) |
| Purchases of marketable securities | (118,120) | (20,557) |
| Sales of marketable securities | 14,758 | 8,475 |
| Maturities of marketable securities | 13,815 | 14,723 |
| Acquisition, net of cash acquired | — | (1,982) |
| Other investing activities | (108) | (58) |
| Net cash used in investing activities | (104,660) | (15,798) |
| Financing activities: | ||
| Common stock repurchased | (3,963) | — |
| Payments of dividends and dividend equivalents | (17,375) | — |
| Payroll taxes paid on share-based awards | (6,150) | (774) |
| Proceeds from stock option exercises | 456 | — |
| Payments of dividends and dividend equivalents to noncontrolling interests | — | (13,961) |
| Capital distributions to limited partners | — | (134,001) |
| Net cash used in financing activities | (27,032) | (148,736) |
| Net change in cash and restricted cash | (15,008) | (112,745) |
| Cash and restricted cash, beginning of period | 173,001 | 356,170 |
| Cash and restricted cash, end of period | $157,993 | $243,425 |
| Supplemental disclosure information: | ||
| Income tax payments, net | $28,958 | $11,987 |
| Noncontrolling interest issued in business combination | $— | $4,147 |
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