LOPE earnings analysis
What we found in LOPE's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Grand Canyon Education, Inc. reported Q1 2026 results with service revenue of $308.8 million, a 6.7% increase year-over-year. Diluted EPS rose to $2.80, beating consensus estimates of $2.78, while net income was reported at $75.3 million, up 5.2% from the previous year. Management anticipates a cautious outlook for Q2 with expected revenue between $260 million and $264 million and EPS projected at $1.57 to $1.68.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Growth
- Service revenue increased by $19.5 million, or 6.7%, from $289.3 million in Q1 2025 to $308.8 million in Q1 2026.
- Improved EPS
- Diluted EPS for Q1 2026 was $2.80, an increase from $2.52 in Q1 2025.
- Operating Cash Flow Increase
- Net cash provided by operating activities rose to $88.2 million from $67.6 million year-over-year.
- Enrollment Growth
- University partner enrollments increased by 7.1% to 136,884 at March 31, 2026, up from 127,779 a year prior.
- Cash Position
- As of March 31, 2026, cash and cash equivalents totaled $251.7 million, down from $300.1 million at the end of 2025.
- Share Repurchase Activity
- In Q1 2026, the company repurchased 724,408 shares at an average price of $166.18, consuming $120.4 million.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Regulatory Compliance Risks
- Continued risks associated with legal and regulatory actions that may impact revenue from services.
- Enrollment Growth Challenges
- Fluctuations in university partner enrollment could affect future revenue and profitability.
- Economic Conditions Impact
- General adverse economic conditions could affect student enrollments and funding for university partners.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $2.8
- Gross margin
- 100%
- Operating margin
- 34.9%
What they said about what is next.
Management anticipates cautious revenue growth for Q2 2026 due to shifting enrollment dynamics.
The filing reads better than the one before it.
What came before.
- 10-K · February 18, 2026
- Grand Canyon Education (LOPE) emphasizes scale with a dominant partner relationship (GCU) and a technology-driven services platform (proprietary Halo LMS and Mosaic AI). Fiscal 2025 showed revenue growth to about…
- 10-K · February 19, 2025
- The 10-K emphasizes Grand Canyon Education’s scale as an education services provider (serving ~127,150 students, including >123,100 at its largest partner, Grand Canyon University) and its technology-driven services…
- 10-Q · November 6, 2024
- Grand Canyon Education reported quarterly service revenue of $238,291 for the three months ended September 30, 2024, up from $221,913 in the year-ago quarter, with operating income of $48,175 (operating margin ~20.2%)…
- 10-Q · May 7, 2024
- Grand Canyon Education reported Q1 service revenue of $274.675M (up $24.55M or 9.8% YoY) with operating income of $84.478M and diluted EPS of $2.29 (vs $1.94 a year ago). Operating margin improved to roughly 30.8% and…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
Read the next one first.
We read every filing LOPE makes the day it lands, and put it next to what the options market did about it. Members get both, and an alert when a filing arrives.
Cancel anytime · Month to month · Switch tiers whenever