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…
Earnings analysis · 10-Q
LOPE earnings analysis
Filed April 30, 2026 · Our reading of the company's report
The latest report
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…
Read full summary
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.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $2.8
What stood out
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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.
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Improved EPS
Diluted EPS for Q1 2026 was $2.80, an increase from $2.52 in Q1 2025.
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Operating Cash Flow Increase
Net cash provided by operating activities rose to $88.2 million from $67.6 million year-over-year.
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Enrollment Growth
University partner enrollments increased by 7.1% to 136,884 at March 31, 2026, up from 127,779 a year prior.
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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.
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Share Repurchase Activity
In Q1 2026, the company repurchased 724,408 shares at an average price of $166.18, consuming $120.4 million.
What to watch
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Regulatory Compliance Risks
Continued risks associated with legal and regulatory actions that may impact revenue from services.
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Enrollment Growth Challenges
Fluctuations in university partner enrollment could affect future revenue and profitability.
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Economic Conditions Impact
General adverse economic conditions could affect student enrollments and funding for university partners.
Management's outlook
Management anticipates cautious revenue growth for Q2 2026 due to shifting enrollment dynamics.
Earlier filings 4
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 itself. Analysis can contain errors; check the source document for full context.