---
schema_version: "secwatch.filing_event.v1"
accession: "0001258602-25-000062"
form_type: "8-K"
ticker: "NNI"
cik: "0001258602"
company_name: "NELNET INC"
filed_at: "2025-11-06T23:59:59+00:00"
generated_at: "2026-05-16T23:23:30.243102+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Nelnet Q3 GAAP EPS $2.94 vs $0.07 YoY; adjusted $2.95; one-time items boost

## Summary
- GAAP net income $106.7M ($2.94/sh) vs $2.4M ($0.07/share) YoY; adjusted net income $107.3M ($2.95/sh) vs $12.4M ($0.34/sh).
- Includes $32.9M non-recurring govt contract revenue, $30.2M venture capital gain, $28.9M loan-loss reversal on loan sale.
- Loan Servicing & Systems rev $151.1M (+40% YoY); net income $35.2M vs loss $3.5M; servicing $508.7B for 14.2M borrowers.
- Agreed to acquire Finastra's Canadian student loan servicing for ~$93M cash; expected close Q1 2026.
- Dividend raised to $0.33/sh (payable Dec 15, record Dec 1); repurchased 217,850 shares for $27.3M in Q3.

## SEC filing metadata
- accession: 0001258602-25-000062
- form_type: 8-K
- ticker: NNI
- cik: 0001258602
- company_name: NELNET INC
- filed_at: 2025-11-06T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1258602/000125860225000062/0001258602-25-000062-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1258602/000125860225000062/nni-20251106.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001258602-25-000062
- JSON: https://secwatch.observer/filing/0001258602-25-000062.json
- Plain text: https://secwatch.observer/filing/0001258602-25-000062.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.