$CVSA

DEVRY EDUCATION GROUP INC.

CIK:0000730464|SEC Filings

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2024
Income Statement [Abstract]
Revenue	$ 1,954,085	$ 1,788,290	$ 1,584,652
Operating cost and expense:
Cost of educational services	833,660	771,430	698,548
Student services and administrative expense	730,720	672,004	632,965
Restructuring expense	6,329	3,314	1,870
Business integration expense	0	0	34,215
Total operating cost and expense	1,570,709	1,446,748	1,367,598
Operating income	383,376	341,542	217,054
Interest expense	(45,435)	(52,318)	(63,659)
Other income, net	7,178	9,290	10,542
Income from continuing operations before income taxes	345,119	298,514	163,937
Provision for income taxes	(77,744)	(65,837)	(26,224)
Income from continuing operations	267,375	232,677	137,713
Discontinued operations:
(Loss) income from discontinued operations before income taxes	(21,236)	5,870	(762)
Benefit from (provision for) income taxes	5,427	(1,482)	(174)
(Loss) income from discontinued operations	(15,809)	4,388	(936)
Net income and comprehensive income	$ 251,566	$ 237,065	$ 136,777
Basic:
Continuing operations (In dollars per share)	$ 7.63	$ 6.27	$ 3.49
Discontinued operations (In dollars per share)	(0.45)	0.12	(0.02)
Total basic earnings per share (In dollar per share)	7.18	6.39	3.47
Diluted:
Continuing operations (In dollars per share)	7.49	6.07	3.42
Discontinued operations (In dollars per share)	(0.44)	0.11	(0.02)
Total diluted earnings per share (In dollars per share)	$ 7.04	$ 6.18	$ 3.39
Weighted-average shares outstanding:
Basic shares (In shares)	35,045	37,085	39,413
Diluted shares (In shares)	35,715	38,334	40,307

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2024
Operating activities:
Net income	$ 251,566	$ 237,065	$ 136,777
Loss (income) from discontinued operations	15,809	(4,388)	936
Income from continuing operations	267,375	232,677	137,713
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation	41,216	41,590	25,947
Amortization and impairments to operating lease assets	27,946	32,543	32,641
Depreciation	43,850	40,702	39,676
Amortization of acquired intangible assets	11,220	11,220	35,644
Amortization and write-off of debt discount and issuance costs	7,621	5,985	5,663
Provision for credit losses	68,765	63,237	53,175
Deferred income taxes	68,352	18,413	11,073
Loss on disposals and impairments of property and equipment	743	2,527	466
Gain on investments	(1,720)	(1,074)	(1,365)
Loss on assets held for sale		490	647
Changes in assets and liabilities:
Accounts and financing receivables	(89,263)	(80,820)	(76,355)
Prepaid expenses and other current assets	8,423	5,546	(8,781)
Cloud computing implementation assets	(13,954)	(32,823)	(27,154)
Accounts payable	6,192	140	18,330
Accrued payroll and benefits	2,494	5,144	19,422
Accrued liabilities	(9,697)	(15,948)	27,422
Deferred revenue	50,925	34,273	40,622
Operating lease liabilities	(19,802)	(24,792)	(36,692)
Other assets and liabilities	110	(5,296)	(9,727)
Net cash provided by operating activities-continuing operations	470,796	333,734	288,367
Net cash provided by operating activities-discontinued operations	(374)	4,165	7,408
Net cash provided by operating activities	470,422	337,899	295,775
Investing activities:
Capital expenditures	(77,696)	(50,327)	(48,893)
Proceeds from sales of marketable securities	3,260	3,120	1,732
Purchases of marketable securities	(4,264)	(2,048)	(689)
Payment for investment in business	(5,000)
Proceeds from sale of assets		7,334
Net cash used in investing activities	(83,700)	(41,921)	(47,850)
Financing activities:
Proceeds from exercise of stock options	131	10,027	17,089
Employee taxes paid on withholding shares	(42,367)	(14,200)	(7,731)
Proceeds from stock issued under Colleague Stock Purchase Plan	1,790	1,282	810
Repurchases of common stock for treasury	(239,866)	(213,125)	(261,966)
Borrowings under long-term debt obligations	1,007,450	9,873	1,896
Repayments under long-term debt obligations	(895,283)	(109,873)	(51,896)
Payment of debt issuance and extinguishment costs	(11,987)
Net cash used in financing activities	(180,132)	(316,016)	(301,798)
Net increase (decrease) in cash, cash equivalents and restricted cash	206,590	(20,038)	(53,873)
Cash, cash equivalents and restricted cash at beginning of period	201,164	221,202	275,075
Cash, cash equivalents and restricted cash at end of period	407,754	201,164	221,202
Supplemental cash flow disclosure:
Interest paid	44,841	46,596	57,842
Income taxes paid, net	13,649	32,777	31,475
Non-cash investing and financing activities:
Accrued capital expenditures	22,642	9,226	8,718
Accrued excise tax on share repurchases	$ 1,739	$ 1,630	$ 3,338

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025
Current assets:
Cash and cash equivalents	$ 406,316	$ 199,601
Restricted cash	1,438	1,563
Accounts and financing receivables, net	169,561	146,189
Prepaid expenses and other current assets	75,126	68,837
Total current assets	652,441	416,190
Noncurrent assets:
Property and equipment, net	302,649	256,131
Operating lease assets	204,364	191,194
Deferred income taxes		32,956
Intangible assets, net	754,254	765,474
Goodwill	961,262	961,262
Other assets, net	137,738	129,145
Total noncurrent assets	2,360,267	2,336,162
Total assets	3,012,708	2,752,352
Current liabilities:
Accounts payable	124,763	105,017
Accrued payroll and benefits	78,669	76,374
Accrued liabilities	94,364	77,286
Deferred revenue	259,125	214,091
Current operating lease liabilities	34,799	35,159
Current portion of long-term debt	5,100	0
Total current liabilities	596,820	507,927
Noncurrent liabilities:
Long-term debt	657,750	552,669
Long-term operating lease liabilities	207,846	186,172
Deferred income taxes	61,782	31,856
Other liabilities	42,325	40,103
Total noncurrent liabilities	969,703	810,800
Total liabilities	1,566,523	1,318,727
Commitments and contingencies
Shareholders' equity:
Common stock, $0.01 par value per share, 200,000 shares authorized; 34,033 and 35,952 shares outstanding as of June 30, 2026 and June 30, 2025, respectively	848	839
Additional paid-in capital	706,908	664,300
Retained earnings	3,029,140	2,777,574
Accumulated other comprehensive loss	(2,227)	(2,227)
Treasury stock, at cost, 50,717 and 47,990 shares as of June 30, 2026 and June 30, 2025, respectively	(2,288,484)	(2,006,861)
Total shareholders' equity	1,446,185	1,433,625
Total liabilities and shareholders' equity	$ 3,012,708	$ 2,752,352