PERDOCEO EDUCATION Corp
For the period ended Sep 30, 2026. Filed Nov 5, 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.
Sep 30, 2026 · Filed Nov 5, 2026
PRDO$26.88+1.2%Stored close · as of Nov 6, 2026
Contents
Item 1. Condensed Consolidated Balance Sheets
CONDENSED CONSOLIDATED BALANCE SHEETS
| September 30, | December 31, | |
|---|---|---|
| (In Thousands, Except Share and Per Share Amounts) | 2026 | 2025 |
| ASSETS · (unaudited) | ||
| CURRENT ASSETS: | ||
| Cash and cash equivalents, unrestricted | $188,542 | $110,970 |
| Restricted cash | 308 | 21,310 |
| Total cash, cash equivalents and restricted cash | 188,850 | 132,280 |
| Short-term investments | 588,010 | 511,211 |
| Total cash and cash equivalents, restricted cash and short-term investments | 776,860 | 643,491 |
| Student receivables, gross | 65,185 | 68,346 |
| Allowance for credit losses | (33,647) | (41,149) |
| Student receivables, net | 31,538 | 27,197 |
| Receivables, other | 6,395 | 5,037 |
| Prepaid expenses | 16,486 | 16,881 |
| Inventories | 2,111 | 4,049 |
| Other current assets | 158 | 208 |
| Total current assets | 833,548 | 696,863 |
| NON-CURRENT ASSETS: | ||
| Property and equipment, net of accumulated depreciation of $98,640 and $86,908 as of September 30, 2026 and December 31, 2025, respectively | 76,836 | 83,314 |
| Right of use asset, net - operating | 37,946 | 43,290 |
| Right of use asset, net - finance | 6,422 | 10,259 |
| Goodwill | 265,697 | 265,697 |
| Intangible assets, net of amortization of $57,312 and $44,786 as of September 30, 2026 and December 31, 2025, respectively | 65,419 | 77,945 |
| Student receivables, gross | 9,589 | 9,073 |
| Allowance for credit losses | (4,180) | (4,262) |
| Student receivables, net | 5,409 | 4,811 |
| Deferred income tax assets, net | 57,438 | 57,438 |
| Other assets | 8,567 | 8,100 |
| TOTAL ASSETS | $1,357,282 | $1,247,717 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| CURRENT LIABILITIES: | ||
| Lease liabilities-operating | $7,987 | $6,032 |
| Lease liabilities-finance | 5,635 | 5,458 |
| Accounts payable | 17,456 | 14,271 |
| Accrued expenses: | ||
| Payroll and related benefits | 34,419 | 44,363 |
| Advertising and marketing costs | 7,690 | 7,838 |
| Income taxes | 6,716 | 5,627 |
| Other | 22,421 | 16,374 |
| Deferred revenue | 81,443 | 37,844 |
| Total current liabilities | 183,767 | 137,807 |
| NON-CURRENT LIABILITIES: | ||
| Lease liabilities-operating | 37,497 | 43,752 |
| Lease liabilities-finance | 1,882 | 6,097 |
| Sale lease-back financing | 57,274 | 56,992 |
| Other liabilities | 30,453 | 30,657 |
| Total non-current liabilities | 127,106 | 137,498 |
| Commitments and Contingencies (Note 9) | ||
| STOCKHOLDERS' EQUITY: | ||
| Preferred stock, $0.01 par value; 1,000,000 shares authorized; none issued or outstanding | - | - |
| Common stock, $0.01 par value; 300,000,000 shares authorized; 92,912,606 and 92,072,703 shares issued, 61,980,422 and 62,478,373 shares outstanding as of September 30, 2026 and December 31, 2025, respectively | 929 | 921 |
| Additional paid-in capital | 730,706 | 720,574 |
| Accumulated other comprehensive (loss) income | (6,251) | 1,070 |
| Retained earnings | 834,624 | 718,365 |
| Treasury stock, at cost; 30,932,184 and 29,594,330 shares as of September 30, 2026 and December 31, 2025, respectively | (513,599) | (468,518) |
| Total stockholders' equity | 1,046,409 | 972,412 |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $1,357,282 | $1,247,717 |
The accompanying notes are an integral part of these condensed consolidated financial statements.
PERDOCEO EDUCATION CORPOR ATION AND SUBSIDIARIES
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