---
schema_version: "secwatch.filing_event.v1"
accession: "0001258602-26-000032"
form_type: "8-K"
ticker: "NNI"
cik: "0001258602"
company_name: "NELNET INC"
filed_at: "2026-05-07T23:59:59+00:00"
generated_at: "2026-05-14T21:25:33.961859+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Nelnet Q1 GAAP EPS $1.97 vs $2.26 YoY; revenue rises in loan servicing, education tech

## Summary
- GAAP net income $71.1M ($1.97/diluted share) vs $82.6M ($2.26) year ago; adjusted net income $69.9M ($1.94).
- Loan Servicing & Systems revenue $127.8M (+6% YoY) driven by Feb 2026 acquisition of NDS Canada (2.7M borrowers).
- Education Tech & Payments revenue $154.4M; net income $36.3M vs $36.1M (seasonally strong Q1).
- AGM net interest income $67.5M (up from $52.9M); provision for loan losses $48.5M primarily due to Pay Later receivables growth ($766.2M balance).
- Board declared $0.33/share dividend payable June 15, 2026, record June 1.

## SEC filing metadata
- accession: 0001258602-26-000032
- form_type: 8-K
- ticker: NNI
- cik: 0001258602
- company_name: NELNET INC
- filed_at: 2026-05-07T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1258602/000125860226000032/0001258602-26-000032-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1258602/000125860226000032/nni-20260507.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001258602-26-000032
- JSON: https://secwatch.observer/filing/0001258602-26-000032.json
- Plain text: https://secwatch.observer/filing/0001258602-26-000032.txt

## Source-grounded claims
- claim_id: 3a27859013275fa4962ea1873e2c7cc39305c755
  claim: NELNET INC reported the quarter ended March 31, 2026 results: net income GAAP net income of $71.1 million, or $1.97 per share, EPS $1.97 per share.
  evidence_excerpt: by securities laws. --- EX-99.1 (EX-99.1) --- Nelnet Reports First Quarter 2026 Results LINCOLN, Neb., May 7, 2026 - Nelnet (NYSE: NNI) today reported GAAP net income of $71.1 million, or $1.97 per share, for the first quarter of 2026, compared with GAAP net income of $82.6 million, or $2.26 per share, for the same period a year ago. Net income, excluding
  evidence_url: https://www.sec.gov/Archives/edgar/data/1258602/000125860226000032/0001258602-26-000032-index.htm

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