Grand Canyon Education Q3 2025 revenue rises 9.6% but net income drops 60.8% on $35M litigation settlement

Grand Canyon Education, Inc.

2025-Q3 EPS reported $4.60 revenue$797,951,000

Q3 service revenue $261.1M (+9.6% YoY), enrollments up 7.9% to 138,073.
GAAP net income fell 60.8% to $16.3M, hit by $35M reserve for qui tam lawsuit settlement.
Adjusted diluted EPS rose to $1.78 from $1.48; adjusted EBITDA up 14.4% to $75.9M.
GCU enrollments increased 7.7% to 132,486; off-campus site enrollments up 17.4%.
Full year 2025 revenue guidance $1.103B-$1.108B, adjusted diluted EPS $9.02-$9.13.

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