Nelnet Q2 GAAP net income $66.7M vs $181.5M; prior year included $175M ALLO gain

NELNET INC

GAAP net income $66.7M ($1.85/sh) vs $181.5M ($4.97/sh) in Q2 2025; prior year included $175M gain from ALLO redemption.
Excluding ALLO gain, prior year net income was $48.5M ($1.32/sh); current year results improved.
AGM acquired $3.07B consumer loans in Q2, including $2.86B Pay Later receivables; consumer loan portfolio grew to $1.21B.
Loan Servicing revenue $132.2M (+9.5% YoY) driven by NDS Canada acquisition and consumer servicing growth.
Board declared Q3 dividend $0.33/sh, payable Sept 15, 2026 to holders of record Sept 1.

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