Perdoceo Education Corporation (PRDO) SEC Filings & Earnings Calls

Regulatory and accreditor approvals required; closing subject to conditions.

“Completion of the acquisition is subject to customary closing conditions, regulatory approvals and accreditor approvals.” · word for word

Termination fee of up to $20M if deal fails under certain circumstances.

“upon termination of the purchase agreement by either the Company or Seller under certain, specified circumstances, the Company will be required to pay Seller a termination fee of up to $20 million.” · word for word

Legal fees at CTU impacting operating income.

“Operating income at CTU ... includes increased legal fees related to previously disclosed legal matters”

Regulatory risk from federal student loan changes

“Federal student aid programs were modified to eliminate Grad PLUS loans...and to impose new annual and lifetime borrowing limits across the remaining loan programs. Final regulations were published on May 1, 2026, and became effective on July 1, 2026.” · word for word

Litigation risk regarding professional program definition

“A number of legal actions were filed by various groups in multiple jurisdictions that challenge the regulations as arbitrary and capricious and contrary to the text of the bill.” · word for word

Dependence on Title IV funding

“As a result of the significance of the Title IV Program funds received by our students, we are highly dependent on these funds to operate our business. Any reduction in the level of Title IV funds that our students are eligible to receive...may have a significant impact on our operations and our financial condition.” · word for word

Dependence on Title IV funding

“As a result of the significance of the Title IV Program funds received by our students, we are highly dependent on these funds to operate our business. Any reduction in the level of Title IV funds that our students are eligible to receive or any impact on timing or our ability to receive Title IV Program funds, or any requirement to post a significant letter” · word for word

Student enrollment sensitivity

“Our financial performance is dependent on the level of student enrollments which could be impacted by external factors.” · word for word

Decline in AIUS enrollments partially offsetting growth at other institutions.

“AIUS enrollments declined 2.2% to 10,320.”

No new risks; routine compensation plan approval.

Regulatory risk from borrower defense claims

“There continues to be significant uncertainty around the requirements and approach to handling BDR applications due to a series of rulemakings and competing regulations.” · word for word

Title IV funding dependency

“Any reduction in the level of Title IV funds that our students are eligible to receive or any impact on timing or our ability to receive Title IV Program funds... may have a significant impact on our operations and our financial condition.” · word for word

Repurchase program may be modified or suspended at any time, reducing certainty of execution.

“The Stock Repurchase Program may be modified, suspended or discontinued at any time in the Company's discretion without prior notice.” · word for word

Grad PLUS Loan Phase-Out

“The Act phases out the Grad PLUS loan program which becomes unavailable for new students enrolling after July 1, 2026 and replaces it with a more targeted funding framework.” · word for word

Regulatory Uncertainty

“There is uncertainty regarding the Department's final determination concerning which programs will be eligible for the higher federal loan funding.”

AIUS segment enrollment decline

“AIUS enrollments decreased 2.9% YoY; revenue -1.2%.”

USAHS acquisition integration risk

“USAHS operating income near zero; corporate costs elevated.”