PXEDMEDIUM SIGNALFINANCIAL10-Q

PXED reported a challenging quarter with revenue declining 15% and operating income falling meaningfully while cash position strengthened.

The company faces operational headwinds with both top-line contraction and compressed profitability, suggesting potential market or execution challenges. However, the substantial improvement in cash position provides financial flexibility during this performance downturn.

Comparing 2026-04-07 vs 2026-01-13View on EDGAR →
FINANCIAL ANALYSIS

PXED's quarterly results show broad-based weakness in operating performance, with revenue declining to $222.5M and operating income falling to $14.0M, reflecting margin compression. The company's balance sheet strengthened considerably with cash increasing to $194.6M while accounts receivable dropped substantially to $35.0M, indicating improved collections but potentially weaker forward sales activity. The mixed financial picture suggests near-term operational challenges offset partially by improved liquidity management.

FINANCIAL STATEMENT CHANGES
Accounts Receivable
Balance Sheet
-57.6%
$82.6M→$35.0M

Receivables declined — improved collection efficiency or conservative revenue recognition.

Operating Income
P&L
-45.3%
$25.6M→$14.0M

Operating income deteriorated sharply — investigate whether driven by one-time charges or structural cost issues.

Net Income
P&L
-30.2%
$15.5M→$10.8M

Net income declined 30.2% — review whether driven by operations, interest costs, or non-recurring items.

Cash & Equivalents
Balance Sheet
+28.6%
$151.3M→$194.6M

Cash grew 28.6% — improving liquidity position supports investment and shareholder returns.

Revenue
P&L
-15.1%
$262.0M→$222.5M

Revenue softened 15.1% — monitor whether this is cyclical or structural.

LANGUAGE CHANGES
NEW — 2026-04-07
PRIOR — 2026-01-13
ADDED
Exhibits 33 Signatures 34 i OVERVIEW In this Quarterly Report on Form 10-Q for the period ended February 28, 2026 (this Quarterly Report on Form 10-Q ), unless otherwise indicated or the context otherwise requires, references to the Company, the Issuer, we, us and our refer, prior to our conversion into a corporation, to AP VIII Queso Holdings, L.P.
equity 291,126 246,774 Noncontrolling interests 2,438 ( 6,719 ) Total equity 293,564 240,055 Total liabilities and equity $ 546,394 $ 493,562 (1) See Note 1.
$ 10,780 $ 16,125 $ 26,234 $ 62,541 Earnings per share: (1) Basic $ 0.30 $ 0.45 $ 0.73 $ 1.76 Diluted $ 0.28 $ 0.43 $ 0.68 $ 1.66 Shares used in computing earnings per share: Basic 35,778 35,560 35,714 35,532 Diluted 38,888 37,898 38,744 37,764 (1) See Note 1.
AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS O F COMPREHENSIVE INCOME (Unaudited) Three Months Ended February 28, Six Months Ended February 28, ($ in thousands) 2026 2025 2026 2025 Net income $ 10,469 $ 16,104 $ 25,947 $ 63,222 Other comprehensive income (loss) (net of tax) (1) : Change in fair value of available-for-sale securities ( 16 ) ( 15 ) 26 ( 58 ) Comprehensive income 10,453 16,089 25,973 63,164 Comprehensive loss (income) attributable to noncontrolling interests 311 21 287 ( 681 ) Comprehensive income attributable to Phoenix Education Partners, Inc.
$ 10,764 $ 16,110 $ 26,260 $ 62,483 (1) The tax effect during the three and six months ended February 28, 2026 and 2025 was not material.
+7 more — sign up free →
REMOVED
Exhibits 30 Signatures 31 i OVERVIEW In this Quarterly Report on Form 10-Q for the period ended November 30, 2025 (this Quarterly Report on Form 10-Q ), unless otherwise indicated or the context otherwise requires, references to the Company, the Issuer, we, us and our refer, prior to our conversion into a corporation, to AP VIII Queso Holdings, L.P.
equity 280,408 246,774 Noncontrolling interests 2,749 ( 6,719 ) Total equity 283,157 240,055 Total liabilities and equity $ 549,572 $ 493,562 (1) See Note 1.
$ 15,454 $ 46,416 Earnings per share: (1) Basic $ 0.43 $ 1.31 Diluted $ 0.40 $ 1.23 Shares used in computing earnings per share: Basic 35,650 35,505 Diluted 38,891 37,630 (1) See Note 1.
AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS O F COMPREHENSIVE INCOME (Unaudited) Three Months Ended November 30, ($ in thousands) 2025 2024 Net income $ 15,478 $ 47,118 Other comprehensive income (loss) (net of tax) (1) : Change in fair value of available-for-sale securities 42 ( 43 ) Comprehensive income 15,520 47,075 Comprehensive income attributable to noncontrolling interests ( 24 ) ( 702 ) Comprehensive income attributable to Phoenix Education Partners, Inc.
$ 15,496 $ 46,373 (1) The tax effect during the three months ended November 30, 2025 and 2024 was not material.
+7 more — sign up free →
MORE FINANCIAL SIGNALS
CRMHIGHSalesforce significantly increased debt by 71% to $14.4B while simultaneously ac...
2026-03-02
UNHHIGHUNH's operating income plummeted 41% despite 12% revenue growth, indicating seve...
2026-03-02
PFEHIGHPfizer achieved a dramatic 87.3% reduction in total debt from $31.4B to $4.0B, r...
2026-02-26
GILDHIGHGILD dramatically increased R&D spending by 81.5% to $9.1B while introducing new...
2026-02-24
ANALYZE ANY FILING FREE

See what changed in your portfolio's filings

500+ US-listed companies analyzed. Language delta, financial analysis, instant signal scoring.

Try Tracenotes free →