Adtalem Global Education Files Q2 2025 10-Q

TL;DR

Adtalem's Q2 2025 10-Q is in. Check financials and buyback activity.

AI Summary

Adtalem Global Education Inc. filed its 10-Q for the period ending December 31, 2024. The company reported on its financial performance and operations, including details on share repurchase programs. Specific financial figures and operational highlights are detailed within the filing.

Why It Matters

This filing provides investors with an update on Adtalem's financial health and strategic direction for the second quarter of fiscal year 2025.

Risk Assessment

Risk Level: medium — 10-Q filings are standard financial reports, but the specific content can reveal risks related to the company's performance and market conditions.

Key Numbers

• 2800000 — Investment in Rabbi Trust (Indicates a specific financial commitment or asset related to employee benefits or executive compensation.)

Key Players & Entities

• Adtalem Global Education Inc. (company) — Filer of the 10-Q
• December 31, 2024 (date) — End of the reporting period
• 20250130 (date) — Filing date

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common stock, $0.01 par value per share ATGE New York S

Filing Documents

• atge-20241231x10q.htm (10-Q) — 3528KB
• atge-20241231xex10d1.htm (EX-10.1) — 35KB
• atge-20241231xex10d2.htm (EX-10.2) — 32KB
• atge-20241231xex10d3.htm (EX-10.3) — 55KB
• atge-20241231xex10d4.htm (EX-10.4) — 45KB
• atge-20241231xex31d1.htm (EX-31.1) — 10KB
• atge-20241231xex31d2.htm (EX-31.2) — 10KB
• atge-20241231xex32d1.htm (EX-32.1) — 8KB
• 0001558370-25-000544.txt ( ) — 13916KB
• atge-20241231.xsd (EX-101.SCH) — 63KB
• atge-20241231_cal.xml (EX-101.CAL) — 83KB
• atge-20241231_def.xml (EX-101.DEF) — 280KB
• atge-20241231_lab.xml (EX-101.LAB) — 625KB
• atge-20241231_pre.xml (EX-101.PRE) — 479KB
• atge-20241231x10q_htm.xml (XML) — 2982KB

Financial Information

Part I. Financial Information Item 1.

Financial Statements

Financial Statements 1 Consolidated Balance Sheets 1 Consolidated Statements of Income 2 Consolidated Statements of Cash Flows 3 Consolidated Statements of Shareholders' Equity 4

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 5 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 26 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 43 Item 4.

Controls and Procedures

Controls and Procedures 43

Other Information

Part II. Other Information Item 1.

Legal Proceedings

Legal Proceedings 43 Item 1A.

Risk Factors

Risk Factors 43 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 43 Item 5. Other Information 44 Item 6. Exhibits 44 Signature 45 Table of Contents

Financial Information

Part I. Financial Information

Financial Statements

Item 1. Financial Statements Adtalem Global Education Inc. Consolidated Balance Sheets (unaudited) (in thousands, except par value) December 31, June 30, 2024 2024 Assets: Current assets: Cash and cash equivalents $ 193,958 $ 219,306 Restricted cash 1,461 1,896 Accounts and financing receivables, net 146,973 126,833 Prepaid expenses and other current assets 64,693 70,050 Total current assets 407,085 418,085 Noncurrent assets: Property and equipment, net 245,878 248,524 Operating lease assets 188,800 176,755 Deferred income taxes 28,413 49,088 Intangible assets, net 771,084 776,694 Goodwill 961,262 961,262 Other assets, net 112,608 103,184 Assets held for sale 7,825 7,825 Total noncurrent assets 2,315,870 2,323,332 Total assets $ 2,722,955 $ 2,741,417 Liabilities and shareholders' equity: Current liabilities: Accounts payable $ 66,920 $ 102,626 Accrued payroll and benefits 50,999 71,373 Accrued liabilities 62,479 96,957 Deferred revenue 171,523 185,272 Current operating lease liabilities 32,633 31,429 Total current liabilities 384,554 487,657 Noncurrent liabilities: Long-term debt 649,924 648,712 Long-term operating lease liabilities 182,051 167,712 Deferred income taxes 32,367 29,526 Other liabilities 35,149 38,675 Total noncurrent liabilities 899,491 884,625 Total liabilities 1,284,045 1,372,282 Commitments and contingencies Shareholders' equity: Common stock, $ 0.01 par value per share, 200,000 shares authorized; 37,289 and 37,681 shares outstanding as of December 31, 2024 and June 30, 2024, respectively 839 832 Additional paid-in capital 642,975 611,949 Retained earnings 2,662,530 2,540,509 Accumulated other comprehensive loss ( 2,227 ) ( 2,227 ) Treasury stock, at cost, 46,597 and 45,513 shares as of December 31, 2024 and June 30, 2024, respectively ( 1,865,207 ) ( 1,781,928 ) Tot

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements (unaudited) Table of Contents Note Page 1 Nature of Operations 6 2 Summary of Significant Accounting Policies 6 3 Discontinued Operations 8 4 Revenue 8 5 Restructuring Expense 10 6 Other Income, Net 11 7 Income Taxes 11 8 Earnings per Share 12 9 Accounts and Financing Receivables 12 10 Property and Equipment, Net 15 11 Leases 15 12 Goodwill and Intangible Assets 16 13 Debt 18 14 Share Repurchases 21 15 Stock-Based Compensation 21 16 Fair Value Measurements 22 17 Commitments and Contingencies 24 18 Segment Information 25 5 Table of Contents 1. Nature of Operations In this Quarterly Report on Form 10-Q, Adtalem Global Education Inc., together with its subsidiaries, is collectively referred to as "Adtalem," "we," "our," "us," or similar references. Adtalem reports on a fiscal year period ending on June 30. Therefore, this Quarterly Report for the quarterly period ended December 31, 2024 is for our second quarter of fiscal year 2025. Adtalem is the leading healthcare educator in the U.S. Our schools consist of Chamberlain University ("Chamberlain"), Walden University ("Walden"), American University of the Caribbean School of Medicine ("AUC"), Ross University School of Medicine ("RUSM"), and Ross University School of Veterinary Medicine ("RUSVM"). AUC, RUSM, and RUSVM are collectively referred to as the "medical and veterinary schools." "Home Office" includes activities not allocated to a reportable segment. See Note 18 "Segment Information" for information on our reportable segments. 2. Summary of Significant Accounting Policies Basis of Presentation Our significant accounting policies are described in Note 2 "Summary of Significant Accounting Policies" of our Annual Report on Form 10-K for the fiscal year ended June 30, 2024 (the "2024 Form 10-K"). We have prepared the accompanying unaudited consolidated financial statements in accordanc