PERDOCEO EDUCATION Corp (NASDAQ: PRDO)

Perdoceo Education Corporation provides postsecondary education through its three accredited institutions: Colorado Technical University (CTU), the American InterContinental University System (AIUS) and the University of St. Augustine for Health Sciences (USAHS). These institutions offer degree programs from the associate through doctoral level as well as non degree seeking and professional development courses, delivered via fully online, campus based and hybrid formats to serve a diverse student population. The company’s mission is to close the gap between learners seeking career advancement and employers needing a qualified workforce by delivering industry relevant, career focused education.

Revenue is generated principally from tuition and fees paid by students, which include funds from federal Title IV programs such as Pell grants and Direct Loans, veterans’ education benefits, employer tuition assistance programs and private payments. The company also receives revenue from auxiliary services such as technology fees and other education related charges. These streams are tied to student enrollment and the delivery of academic programs across its three reporting segments.

The company operates through the following segments:

• CTU: This segment offers career focused programs in business and management, nursing, healthcare management, computer science, engineering, information systems and technology, project management, cybersecurity and criminal justice, leveraging its intellipath adaptive learning platform and data analytics to support adult learners and military students.

• AIUS: Comprising American InterContinental University, Trident University International and California Southern University, this segment provides programs in business studies, information technologies, education, behavioral sciences and criminal justice, emphasizing professional and academic growth for a diverse student base that includes working adults and service members.

• USAHS: Focused on graduate health sciences, this segment delivers degrees in physical therapy, occupational therapy, speech language therapy and nursing along with continuing education, featuring a strong clinical component through on site labs and simulation centers in California, Texas and Florida to prepare healthcare practitioners.

Within the highly fragmented U. S. postsecondary education market, which includes roughly 5,600 Title IV eligible institutions, Perdoceo competes with for profit, public and private nonprofit colleges and universities. Its competitive advantages arise from a heavy emphasis on online delivery, proprietary learning technology such as the intellipath platform, targeted programs for working adults and military personnel, and specialized clinical training in health sciences that differentiates its offerings from many traditional providers.

The company serves a nontraditional student population; as of December 31 2025 total enrollment was approximately 44,400 students, of whom about 91% were enrolled in fully online programs. The age distribution showed 68% of students over 30 years old, 30% between 21 and 30, and 2% under 21. By field of study, business studies accounted for 66%, information technology 12% and health education 22% of enrollments. In terms of credential level, bachelor’s degrees represented 63%, associate degrees 15% and combined master’s and doctoral degrees 22%. Employer sponsored tuition arrangements covered roughly 38.3% of CTU’s enrollment and 7.5% of AIUS’s enrollment, while substantially all students resided within the United States.