PXED Q2 2026 Earnings Transcript

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DATE

Tuesday, April 7, 2026 astatine 5 p.m. ET

CALL PARTICIPANTS

• Chief Executive Officer — Christopher Lynne

• Chief Financial Officer — Blair Westblom

Full Conference Call Transcript

Christopher Lynne: Thank you, Beth, and bully afternoon, everyone. We admit you joining us. Today, we'll locomotion done our results for the 2nd 4th of fiscal 2026 and the continued advancement we're making connected our strategy. Guided by our mission, we stay focused connected advancing pupil occurrence done flexible, career-relevant acquisition for moving adults. Our students equilibrium nonrecreational and idiosyncratic responsibilities arsenic they prosecute their acquisition and our strategy remains centered connected supporting their occurrence done personalized technology-enabled programs. Fiscal 2026 besides represents an important milestone for the University of Phoenix. Later this year, we volition observe our 50th anniversary, marking 5 decades of serving moving big learners portion continuously adapting to the evolving needs of the workforce.

Our committedness to pupil restitution is reflected successful the caller Encoura Ruffalo Noel Levitz priorities survey for online learners, a nationalist survey spanning 150 institutions and astir 90,000 learners, which shows consistently precocious restitution among presently enrolled online students. The assemblage administered done the Noel Levitz platform, the survey to a random illustration of 20,000 actively enrolled associate, undergraduate, postgraduate and doctoral students representing each assemblage and grade level with astir 2,500 students responding. The assemblage performed supra the nationalist averages crossed each 26 measured attributes, with 85% of our students reporting being precise satisfied oregon satisfied with their online assemblage acquisition compared to 73% of students successful the nationalist benchmarked institutions.

These results combined with beardown retention results, underscore our committedness to delivering beardown pupil outcomes and ensuring that moving big learners make skills that construe straight into their careers. Turning to our results. The 2nd 4th reflects continued advancement crossed our cardinal priorities, enrollment maturation driven by grounds retention, borderline enlargement and a beardown equilibrium expanse that gives america the flexibility to put successful students and instrumentality superior to shareholders, each underscoring the durability of our exemplary and committedness to pupil success. For the quarter, mean full degreed enrollment was up 1.8%. Net gross was down 0.4% and adjusted EBITDA was up 7.8% from the anterior year. Average full degreed enrollment was driven by beardown retention trends.