Performance at a glance:

• Revenue rose 1.5% year over year to $153.1 million in the third quarter. 
• Total costs and expenses increased 3.2% to $149 million.
• Net income came to $731,000, compared to a $4.9 million loss in Q3 2023 that was driven by a loss on equity investments.

What you need to know:

The for-profit college operator saw the most growth in its Hondros College of Nursing, whose total enrollment grew 10.4% year over to 3,100 students in Q3. At the American Public University System, net course registrations were up just 0.2% while total enrollment was flat at Rasmussen University. 

CEO Angela Selden noted on a call with analysts that Rasmussen’s Q4 enrollment, known at the end of the third quarter, increased 4% from last year. Its flat Q3 enrollment, meanwhile, represents the first positive change in the metric since American Public Education acquired it in 2021.

Performance at a glance:

• Revenue fell 13.5% year over year to $136.6 million. 
• Third quarter costs and expenses came to $358.9 million, up 66.4% from last year. That included a $195.7 million goodwill write-down, reflecting a drop in the value of the company and its stock. 
• Net losses grew more than elevenfold  from last year, coming to $212.6 million in Q3.

What you need to know:

As education technology company Chegg scrambles to cut rising costs, it is planning another round of layoffs. The cuts will affect 319 employees, or 21% of the company’s workforce, CFO David Longo said in prepared remarks. The headcount drop, along with a round from June, is expected to reduce costs by $120 million in 2025. 

CEO Nathan Schultz pegged the company’s travails to the growing adoption of generative AI by students, which is creating new alternatives to Chegg’s learning tech. Moreover, the launch of Google’s AI Overview keeps more users on Google’s search page and has reduced traffic to third-party sites, Schultz noted.

As part of its strategic plan, Chegg has launched a new marketing campaign, offered a new quality guarantee to differentiate it from generative AI services, and launched new direct-to-institution partnerships around its Chegg Study homework help product, paid by colleges, among other efforts.

Performance at a glance:

• Revenue grew 7% year over year to $306 million in the third quarter. 
• Costs and expenses rose 3.6% to $269.6 million. 
• Net income increased by 50.3% from Q3 last year to $27.7 million.

What you need to know:

The for-profit college operator’s Q3 performance “significantly topped expectations” by Wall Street analysts, according to Barrington Research Associates. Analysts with the firm noted that Strategic’s stock got a 10% bump following the election of Donald Trump to the presidency. 

Enrollment at the company’s U.S.-based Strayer University and Capella University grew by a combined 4.8% year over year to 86,533 students in Q3, the company said. 

Executives on a conference call noted that the company had landed a large undisclosed corporate client that switched vendors to provide education benefits to employees. Corporate partnerships overall helped boost demand in the U.S., they noted.

Performance at a glance: 

• Revenue grew 7.4% year over year to $238.3 million in the third quarter. 
• Costs and expenses reached $190.1 million, up 5.4% from Q3 2023.
• Net income spiked by 16%, coming to $41.5 million.

What you need to know:

Driving revenue growth was increased enrollment at Grand Canyon University, the marketing and education services company’s largest client. Enrollment rose 4% year over year at GCU, reaching 123,002 students as of Sept. 30.

Despite that rise, the university saw some negative impact from the rollout of the Free Application for Federal Student Aid. CEO Brian Mueller said that both applications and registrations were down for students who completed the FAFSA. “Although this is a disappointing result, this is equal to or better than what is occurring nationwide,” Mueller said. 

The chief executive, who is also president of Grand Canyon University, predicted a friendlier Education Department under the incoming Trump administration following years of clashes with the agency under President Joe Biden.  

“I believe that we’re going to have a voice in what’s going to happen in this next administration in terms of what the future of higher education should be,” Mueller said.

Performance at a glance:

• Revenue rose 13.2% to $417.4 million from the first quarterthird quarter 2023. 
• Costs in the quarter came to $347.2 million, up 1.9% from the prior year.
• Net income more than quadrupled from a year ago, reaching $46.2 million in Q1. 

What you need to know:

Across Adtalem’s for-profit colleges, total enrollment grew for the 10th straight quarter, rising 11.2% year over year to 90,000 students, CEO Steve Beard told analysts this week.

At the nursing and healthcare education focused Chamberlain University, total enrollment increased 11.7%. For the second year in a row, the institution broke its record for highest total enrollment. 

Beard attributed the growth to new enrollment in post-licensure programs for certain nursing specialties as well as high persistence rates and growing demand for doctoral programs.

Performance at a glance:

• Revenue hit $195.4 million, a 5.8% increase from 2023’s third quarter.
• Costs and expenses increased 9% year over year to $206.2 million.
• Net losses widened by 50.7% from last year to $25.3 million.

What you need to know:

Much of the growth at the MOOC specialist came in its enterprise segment, Udemy Business, where revenue rose 16% from Q3 last year and annual recurring revenue was up by 14% to $504.6 million.

On a call with analysts, CEO Greg Brown was bullish on growth ahead in that segment as demand rises for new skills. 

“With the world of work expected to undergo rapid transformation fueled by the widespread adoption of generative AI, Udemy is the company that will help organizations bridge the growing skills gap,” Brown said this week.

Meanwhile, revenue in Udemy’s consumer segment fell by 8% year over year to $69.3 million amid lower course purchases.

Performance at a glance: 

• Revenue reached $176.1 million in the quarter ended Sept. 30, an increase of 6.4% year over year. 
• Costs and expenses declined to $197.9 million, down 3.5% from the same period the year before. 
• Net loss shrank to $13.7 million, compared with $32.1 million during last year’s third quarter. 

What you need to know: 

Coursera leaders announced they are reducing the company’s workforce by 10%, a move they expect to lower expenses by about $30 million a year. Some data suggests that consumer demand may be slowing for Coursera’s platform, according to officials. 

“We are seeing consumers retain at slightly lower rates than we have before,” Coursera CEO Jeff Maggioncalda told analysts Thursday during a call to discuss the company’s third-quarter performance. 

Maggioncalda added that those trends are evident in the company’s existing professional certificates. 

Despite those issues, the company touted new offerings, including nine entry-level professional certificates from companies like Adobe and Amazon. It also announced new partnerships with several higher education institutions to craft educational offerings, including one with the University of Oxford’s business school.

Performance at a glance:

• Revenue fell to $180.7 million in the second quarter, down 18.6% from the year before.
• Costs and expenses rose to $612.7 million, a 62% increase from last year. Most of that was driven by $396.1 million in impairment charges against the value of its alternative credential unit. 
• Net losses more than doubled compared with the same time last year, coming to $452.4 million in Q2. 

What you need to know:

Less than a month after 2U’s second quarter ended, it filed for Chapter 11 bankruptcy protection.

After struggling with falling revenue and a heavy debt load, much of that tied to its 2021 edX acquisition, the online program manager plans to restructure in bankruptcy. On filing, it had an agreement with lenders to reduce its debt load. According to its plan, 2U will wrap up the restructuring process by September and emerge from Chapter 11 as a private company. 

Its latest financials show that 2U’s revenue base continues to shrink. While its overall cost line has grown in large part due to the impairment charge, the company has reduced many of its expenses since last year, including in marketing and sales, technology and content development, servicing and support, and curriculum and teaching.

Performance at a glance:

• Revenue rose to $409.9 million in the fourth quarter, up 12.4% from last year. 
• Expenses rose 5% year over year to $341.4 million.
• At $49.4 million, profit more than doubled from $22.2 million in Q2 2023.

What you need to know:

Adtalem saw double-digit revenue and enrollment growth at both Chamberlain and Walden universities, driven by increases in nursing and healthcare students. 

Meanwhile, its medical and veterinary education business saw slower revenue growth, at 5.4%, and a year-over-year enrollment decline of 2.9% spurred by decreases on the medical side.

CEO Steve Beard told analysts Aug. 6 that Chamberlain is expanding its online nursing bachelor’s program to increase the university’s reach while also “making strategic investments” to boost capacity and program offerings at the institution’s physical locations.

Adtalem recently announced a new Chamberlain campus in the Kansas City market with the capacity to serve roughly 550 students. It will be the university’s 24th location.

Performance at a glance: 

• Revenue grew 9% year over year to $194.4 million in the second quarter.
• Expenses rose to $146.7 million, up 13% from the year before. 
• Net losses widened to $31.8 million, an increase of 23.6% from last year. 

What you need to know:

 Udemy’s Q2 revenue came in at the high end of its guidance. The online skills and learning provider’s business-to-business unit drove most of the quarter’s growth, with its revenue rising 19% from the previous year.

CEO Greg Brown told analysts that Udemy has doubled the number of enterprise customers and deepened relationships with existing corporate clients. 

“As a result of our successful execution, Udemy Business is at a critical juncture where we are preparing to propel our business from a $500 million revenue organization toward a $1 billion industry powerhouse,” Brown said. 

The company announced it is shifting resources to focus on serving larger enterprise customers, with more than 1,000 employees. It’s also making operational cuts, reducing organizational layers and shifting resources to “lower-cost geographies.” Udemy expects the changes to generate $25 million in annualized savings. 

Performance at a glance:

• Revenue fell to $166.7 million, down 10.6% from last year.  
• Expenses dropped to $120.7 million, a decline of 12.8%.
• Net income shrank 29.7%, falling to $38.4 million. 

What you need to know:

Perdoceo attributed its revenue decline to the lagging effects of operational changes at its American InterContinental University System. CEO Todd Nelson noted to analysts that the revenue numbers were better than the company projected. 

By the end of June, enrollment across Perdoceo's institutions was up 4.2% overall to 39,600 students. That was driven by a 14.7% spike at Colorado Technical University, while AIUS enrollment dropped 18.2%. 

Nelson said Perdoceo has been using analytics to market to prospective students who are more likely to succeed in programs. The company is also using technology to evaluate its academic experience, he said. 

In July, Perdoceo announced a deal to acquire the University of St. Augustine for Health Sciences for between $142 million and$144 million. In 2023, St. Augustine made $170 million in revenue and had 4,500 graduate and post-graduate students, according to Perdoceo.

Performance at a glance:

• Revenue grew 8.5% year over year to $312.3 million.
• Expenses held steady at $270.3 million.
• Net income more than doubled, coming to $29.9 million compared to $14.2 million last year. 

What you need to know:

The company’s growth in its U.S. business, which includes Capella and Strayer universities, was driven “once again by employer-affiliated enrollment,” CEO Karl McDonnell told analysts July 31. 

During Q2, enrollment in Strategic Education's U.S. unit grew 8.4% year over year to 87,077 students, while employer-affiliated enrollment spiked by 17%. And the percentage share of U.S. enrollment from corporate partnerships increased 2 percentage points to 29% during the quarter, McDonnell said. 

McDonnell also noted that Strategic Education has not yet seen any impact on enrollment from this year’s fiasco with the Free Application for Federal Student Aid. 

Performance at a glance:

• Service revenue increased 9.8% year over year to $274.7 million in the first quarter. 
• Total costs and expenses rose 8.3% to $190.2 million
• Profits were up 14.2% to $68 million. 

What you need to know:

The company attributed its revenue growth primarily to rising student numbers at its largest client, Grand Canyon University, which the company used to own. The university’s enrollment at the end of March was up 7.7% year over year to 116,952 students. Online enrollment for the private Christian college increased 9.2% to 93,987.  

“The combination of creative delivery models and relevant programs is driving the interest in what we are doing,” CEO Brian Mueller told analysts. 

Mueller touted the university’s partnerships with employers and focus on in-demand programs. He also noted that “GCU has resisted responding to the slower growth during the pandemic by raising tuition significantly.”

The company expects the university to hit its enrollment targets for new students on campus in the coming academic year despite the debacle around the rollout of the new Free Application for Federal Student Aid form.

“We're trying to make up now in the months of May, June, and July what we weren't able to do in the months of January, February, and March,” Mueller said. “Early indications are that some students have already made their mind up to sit out this year, because they just couldn't get any information. But there are still a lot that are open.”

Performance at a glance:

• Revenue rose 3.2% year over year to $154.4 million in the first quarter.
• Total costs and expenses fell to $149.3 million, down 3.7% from last year.
• Profits of $516,000 were a substantial improvement compared with a $5.7 million loss in Q1 of 2023.

What you need to know:

On an analyst call, CEO Angela Selden touted the for-profit college operator’s “hard work” of turning around Rasmussen University. While revenue for the segment is still down 7.5% from last year, Selden said it is “back on a trajectory for growth.” 

The chief executive pointed to a “strong focus” on boosting retention and preparing students for nursing licensure exams, along with moving toward a more balanced mix of program enrollment. Selden also noted that enrollment trends at Rasmussen have improved four quarters in a row. In Q2 so far, the numbers are down 2% from a year ago to 13,600 students. 

Revenue at the American Public University system was up 9% year over year, while registrations were up 2.8%.

Performance at a glance

• First-quarter revenue fell 16.8% year over year to $198.4 million.
• Total costs and expenses shrunk 12.8% to $225.7 million. 
• Losses widened slightly to $54.6 million. 

What you need to know

While down significantly, the online program management company’s revenue beat its own and analyst expectations. Total new enrollments at 2U clients’ programs rose to 116,000 from 88,000 in the previous quarter, CEO Paul Lalljie told analysts Thursday. 

As its revenue decreases, 2U is working to minimize its expenses. So far, the company has cut operating expenses by about $90 million on an annual basis, Lalljie noted. 

2U’s financial woes largely stem from its debt load of $906.4 million and revenue decreases as it ends some of its contracts on client programs, including most of those with the University of Southern California. 

The company has acknowledged it might have to file for bankruptcy or even liquidate if it can’t refinance its debt. Its financial condition has drawn warnings from activist groups, and the U.S. Department of Education has said it is ‘concerned’ about distress in the OPM sector, including at 2U. 

The company’s balance sheet remains distressed. Chief Financial Officer Matt Norden said the company’s projected revenue by the fiscal year ending June 30 won’t be sufficient to meet the requirements for a covenant on 2U’s credit facilities. A default on that covenant could allow lenders to stop providing cash under the agreement, accelerate payment deadlines and go after collateral on 2U’s assets, according to a filing. 

“But we have continued to have a constructive dialogue with our creditors to timely address the revenue covenant and find the overall best solution to position the company for the long-term,” Norden said on the analyst call Thursday. “We expect those discussions to continue with the goal of executing a transaction in the near-term.”

Performance at a glance

• Revenue came to $412.7 million in the quarter ending March 31, up 11.8% over the previous year. 
• Total operating cost and expense rose by 13.3% to $350.9 million. 
• At $36.8 million, profits were down 19.7% from last year.

What you need to know

Driving the spike in Adtalem’s revenue was total enrollment growth of 7.8%, CEO Steve Beard told analysts Thursday. The period marked the third quarter in a row of total enrollment growth and the fifth of revenue growth.

The primary drivers of growth were Adtalem’s Chamberlain and Walden universities. Revenue at the nursing-focused Chamberlain reached $170.3 million, up 13.8% from last year, Chief Financial Officer Bob Phelan told analysts. Meanwhile, Walden’s revenue increased 13.3% to $150.6 million.

The healthcare-focused college operator also increased its operating margin while also boosting investments in the business compared to last year, Beard said. 

Performance at a glance:

• Revenue rose 11.6% year over year to $196.8 million in the first quarter. 
• Total operating expenses reached $143.3 million, down 2.5% from Q1 last year. 
• Losses shrank 58.8% from last year, coming to $18.3 million. 

What you need to know: 

Udemy saw significant growth in its enterprise segment, which serves business clients, where revenue increased 24% year over year. 

On an analyst call Thursday, the education technology’s CEO Gregory Brown attributed the growth to “increased global demand for reskilling and upskilling as the pace of change driven by advancements in technology such as generative AI continues to shape the way we learn and work.”

New and expanded relationships with business clients during the first quarter included Pepsi, Flutter Entertainment and the South African Reserve Bank. The company has more than doubled its enterprise client base over the past three years — now numbering over 16,000 business customers total worldwide, according to Brown. 

The chief executive gave special attention to the rising importance of artificial intelligence and the demand for new training that it creates. 

He noted one of Udemy’s clients in the AI computing space expanded its training relationship with the firm to include nearly one-third of its staff. That partnership “underscores the tangible impact our platform has had on their business,” Brown said. “We see this use case for AI training and IT certification preparation as a long-term driver of demand going forward.”

Performance at a glance:

• Revenue rose 14.5% from last year to $169.1 million in the first quarter.
• Total operating expenses rose 2.3% to $119.2 million. 
• Losses shrunk by 34.3%% year over year, dropping to $21.3million.

What you need to know:

Coursera added 7 million new learners in its consumer segment in Q1. Demand for entry-level professional certificates and generative AI courses drove an 18% year-over-year increase in revenue for the unit. Revenue in its enterprise segment — which develops content for large clients — rose 10% compared to the year prior, driven by products for government and colleges. 

CEO Jeff Maggioncalda touted Coursera’s foray into artificial intelligence as a course subject and a means of generating academic content. For example, Coursera clients have added 75 courses and projects in AI, he said. And Coursera has used AI to translate its courses into almost two dozen languages. 

Despite these expansions, the company’s performance and outlook for the year still fell short of analysts’ hopes. 

“We are a bit disappointed by these results that reflect softness in North America consumer spending trends and lower content conversion,” analysts with Telsey Advisory Group said in a research note Tuesday. They also pointed to a delay in AI content and “lack of newness” in some of Coursera’s professional certificate offerings.

Performance at a glance:

• Revenue increased 13.1% year over year to $290.3 million in 2024’s first quarter. 
• Costs and expenses fell to $248.9 million, down 3.5% from the same period in 2023.  
• Profit reached $29.7 million, compared to a $2 million loss in Q1 last year. 

What you need to know: 

Enrollment in Strategic Education’s U.S. higher ed segment, which includes Capella University and Strayer University, increased 9.8% year over year to 87,731 students. That drove an 11.3% increase in revenue for the segment, which reached $219.2 million. 

CEO Karl McDonnell pegged the enrollment growth to corporate partnerships for employee education. Growth rates for employee-affiliated programs were nearly double the rate for the U.S. higher ed unit overall, McDonnell said on an investor call. 

The company’s Sophia online course platform also performed well, with subscriptions up about 42% compared to the same period last year. 

Performance at a glance: 

• Revenue increased to $179.9 million, up 6.8% from the year before. 
• Expenses decreased to $136.9 million, down 1.6% from the previous year. 
• Profit increased to $41.3 million, an 87.2% increase from the same period last year. 

What you need to know: 

The company saw revenue increase despite enrollment declines across the two for-profit institutions it operates, Colorado Technical University and the American InterContinental University System.

While Colorado Technical’s enrollment only dipped 0.4% to around 26,400 students, American InterContinental University System’s tanked 34.2% compared to the year before, dropping to about 10,000 students.

Performance at a glance: 

• Revenue fell to $229.7 million, a 1.1% decline from the year before. 
• Costs and expenses fell to $256.6 million, down 23.7% from the previous year. 
• Net loss shrank to $47.4 million, down from $121.7 million during the same period last year. 

What you need to know: 

2U officials announced that the company was largely parting ways with the University of Southern California, one of its oldest and largest clients. Over the next 15 months, the company plans to transfer the delivery and administration of the programs it helped develop to the university. 

Performance at a glance: 

• Revenue ticked up to $150.8 million, up 0.9% from the year before. 
• Costs and expenses dipped to $144.4 million, down 4.1% compared to the same period last year. 
• Net loss fell to $3.3 million, an 11.5% year-over-year decline. 

What you need to know: 

The for-profit college operator saw increased enrollment at the Hondros College of Nursing and course registration growth at American Public University System. However, enrollment fell around 10% at Rasmussen University, which has about 13,500 students.

Performance at a glance: 

• Revenue increased to $221.9 million, a 6.3% increase from last year. 
• Costs and expenses rose to $180.4 million, up 4.1% from the year before. 
• Profit rose to $35.7 million, a 19.1% increase from the previous year. 

What you need to know: 

Grand Canyon Education, an educational services company, attributed the revenue uptick to increased enrollment at Grand Canyon University, its biggest client. Enrollment at the university topped 118,000 students, up 6.6% compared to the same period last year.

Performance at a glance: 

• Revenue increased to $285.9 million, up 8.7% from the year before. 
• Costs and expenses increased to $260.3 million, up 2% compared to the prior year. 
• Profit increased to $18.5 million, more than tripling from $6.1 million during the same period last year. 

What you need to know: 

Enrollment growth helped drive the revenue increases for Strategic Education, which owns Strayer and Capella universities. Together, enrollment at those two for-profit colleges surpassed 82,500 students, up 9.9% from the year before.

Performance at a glance: 

• Revenue increased to $184.7 million, up 16.6% from the year before. 
• Costs and expenses rose to $206.2 million, a 2.2% increase over the previous year. 
• Net loss shrank to $16.8 million, down 64.1% compared to the same period last year. 

What you need to know:

Udemy saw large growth in its enterprise segment, which provides worker training for companies. Revenue in this segment increased around 30% year over year to $109.1 million.

Performance at a glance: 

• Revenue increased to $134.9 million, up 10.2% from a year ago. 
• Costs and expenses rose to $130.3 million, a 4.5% increase over the same period last year. 
• Net loss shrank to $5.5 million, down 45.5% from the year before. 

What you need to know: 

The company’s announcement noted that the Montana University System switched 10 of its campuses from Instructure’s competitors to Canvas, the company’s learning management system.

Performance at a glance: 

• Revenue increased to $368.8 million, up 4.1% from the year before. 
• Costs and expenses rose to $340.7 million, a 3% year-over-year increase. 
• Net income rose to $10.6 million, up from $592,000 the year before. 

What you need to know:

Enrollment increases at Adtalem’s colleges — which include Chamberlain and Walden universities — helped fuel the revenue gains in Adtalem’s first quarter. Student headcounts rose to around 81,000 students, up 1.9% year over year.

Performance at a glance: 

• Revenue grew to $165.5 million, up 21.4% from a year earlier. 
• Costs and expenses increased to $205.1 million, an 18.7% increase over the same period last year. 
• Net loss fell to $32.1 million, down almost 11% from the year before. 

What you need to know: 

Coursera attributed the revenue increase in part to strong demand for professional certificates on the company’s platform, including new offerings from Microsoft and Amazon. The company is also doubling down on degree programs. That segment’s revenue grew 13% year over year to $11.7 million due to rising enrollment.

Performance at a glance: 

• 2U’s revenue in 2023’s second quarter slipped to $222.1 million, down 8% from the same period last year. 
• Costs and expenses reached $378.2 million, up 30.7% year over year. 
• Net loss grew to $173.7 million, up from $62.9 million a year ago. 

What you need to know: 

2U’s revenue from its alternative credentials segment reached $102.6 in the second quarter, up 4.3% from the year before. But its degree business saw deep declines, with revenue slipping 16.5% year over year to $119.5 million. 

The decrease was driven by full course equivalent enrollment losses, which the company chalked up to its transition to a new marketing framework. 

The company acquired edX in 2021 and has been aiming to use the MOOC platform to drive students into its paid programs. In a statement, 2U CEO Chip Paucek said edX was responsible for driving 44% of the company’s organic leads.

Performance at a glance: 

• Udemy’s revenue increased to $178.2 million in 2023’s second quarter, up 16.4% from a year ago. 
• Costs and expenses rose to $205.7 million, rising 13.2% year over year. 
• Net loss shrank to $25.7 million, down 12.4% compared to the same period last year. 

What you need to know: 

Udemy, a prominent MOOC platform, saw growth primarily in Udemy Business, which companies use to train their workers. That segment’s revenue grew 36% year over year, reaching $101.6 million. 

The company has had less luck with consumers. Revenue for that segment fell to $76.6 million, down 2% from a year ago.

Performance at a glance: 

• Grand Canyon Education’s revenue grew to $210.6 million in 2023’s second quarter, up 5.4% from the same period last year. 
• Costs and expenses increased to $175.1 million, rising 5.6% year over year. 
• Net income rose to nearly $29 million, up 13.3% from a year before. 

What you need to know: 

Grand Canyon Education is an education services company whose largest client is Grand Canyon University. 

GCE said its revenue increases were primarily driven by enrollment gains at the college. Grand Canyon University’s student headcount climbed to nearly 96,000 by the end of June, up 4.1% compared to the same period last year.

Performance at a glance: 

• Perdoceo’s revenue grew to $186.6 million in 2023’s second quarter, up 11.3% compared to the same period last year. 
• Operating expenses increased to $138.5 million, rising 3.5% year over year. 
• Profit increased to $54.7 million, more than doubling from $25.8 million during the same time last year. 

What you need to know: 

The revenue increases at Perdoceo, a for-profit college operator, were primarily driven by Colorado Technical University. That college’s revenue increased 18.7% year over year to $119.3 million in 2023’s second quarter. 

However, the company has been struggling with enrollment declines. While Colorado Technical’s student headcounts were mostly flat, American InterContinental University System saw its enrollment fall 14.2% year over year to 12,100 students.

Performance at a glance: 

• Instructure’s revenue climbed to $131.1 million in the second quarter, up 14.4% from the same period last year. 
• The company’s costs and expenses rose to $133.1 million, rising 9.9% from a year ago. 
• Its net loss shrunk to just under $11 million, down 15.1% year over year. 

What you need to know: 

Instructure, maker of the learning management system Canvas, said it brought several notable universities on as clients. That includes Duke University, in North Carolina, as well as Ohio University. 

“We're as optimistic as ever about our outlook for sustained growth and profitability,” Instructure CEO Steve Daly said in a statement. 

Performance at a glance: 

• Coursera’s revenue increased to $153.7 million, up 23.2% compared to the same period last year. 
• The company’s costs and expenses grew to $192.1 million, a year-over-year increase of 11.3% 
• Its net loss decreased to $31.7 million, down 35.7% from the year before. 

What you need to know: 

Coursera chalked up some of its recent growth to new offerings, including a cybersecurity analysts certificate from Microsoft and artificial intelligence degrees from international universities. 

That growing portfolio is helping drive more users into degree programs, CEO Jeff Maggioncalda said during a call with analysts. 

“We have a broader selection,” Maggioncalda said. “We can find more matches among the learners on our platform.” Read more.

Performance at a glance: 

• Strategic Education’s revenue rose to $287.7 million in the second quarter of 2023, up 5.2% compared to the year before. 
• Costs and expenses increased to $270.9 million, rising 7.3% compared to the same period last year. 
• Strategic Education posted a profit of $14.2 million in the second quarter, down 6.5% year over year.

What you need to know: 

Strategic Education is the parent company of two U.S.-based for-profit universities: Strayer and Capella.

Part of the company’s revenue growth this quarter was driven by increased enrollment at the two universities, which collectively had around 80,400 students, up from 76,700 during the same period last year. Together, the two universities accounted for $202.7 million in revenue during the second quarter. 

Strategic Education also saw a continued shift to employer-affiliated enrollment. These students comprised 27.1% of the company’s U.S.-based enrollment in the second quarter, up from 24.6% during the same period last year.

Performance at a glance: 

• Revenue fell to $149.7 million, down 3.3% from the year before. 
• Costs and expenses increased to $155.1 million, up 3.7% compared to the prior year. 
• The company recorded a net loss of $5.7 million, compared to a profit of $5.3 million during the same period last year. 

What you need to know: 

American Public Education operates several for-profit institutions, including American Public University System, Rasmussen University and the Hondros College of Nursing. 

Those colleges showed mixed enrollment results. While enrollment fell 12% to 14,300 students at Rasmussen, it increased 10% at Hondros to reach 2,700 students.

Performance at a glance: 

• Revenue increased to $195.6 million, up 6.9% from a year before. 
• Expenses rose to $152.3 million, rising 9.3% from the prior year. 
• Profit reached $34.5 million, a 7.5% increase over the same period last year. 

What you need to know: 

Perdoceo, which operates for-profit colleges, was buoyed by small enrollment gains. While Colorado Technical University’s enrollment remained flat, American InterContinental University System saw its headcount rise to 14,400 students, up 2.1% from the year before.

Performance at a glance: 

• Revenue increased to $176.4 million, rising 15.9% from the year before. 
• Costs and expenses rose to $223.7 million, up 26% compared to the prior year. 
• Net loss widened to $44.5 million, a year-over-year increase of 73.7%. 

What you need to know: 

Despite increasing costs and losses, Udemy President and CEO Greg Brown said the company is “laser-focused on operational efficiency” and is progressing toward being profitable. The company’s consumer segment declined 7% compared to the prior year, while Udemy Business, which provides training for organizations’ employees, saw revenue increase 47%. 

Performance at a glance: 

• Revenue increased to $369.1 million, rising 1.3% from the year before. 
• Costs and expenses fell to $309.7 million, down 6.5% year over year. 
• Profit fell to $45.9 million, compared to $347.7 million during the same period last year. 

What you need to know: 

Despite the revenue increase, enrollment declined at Walden University, one of the for-profit institutions that Adtalem operates. Student headcounts have fallen year over year in each quarter since Adtalem purchased the online college in 2021.

Performance at a glance: 

• Revenue increased to $250.1 million, a 2.5% increase from the year before. 
• Costs and expenses rose to $175.6 million, up 5.4% over the prior year. 
• Profit increased to $59.6 million, rising 2.6% from the same period last year. 

What you need to know: 

Grand Canyon Education also reported that its largest client, Grand Canyon University, saw online enrollment grow after experiencing heavy losses over the past year. Total in-person and online enrollment at the private Christian university topped 108,600 students, growing 2.5% compared to the year before.

Performance at a glance: 

• Revenue increased to $128.8 million, up 13.6% from a year ago. 
• Costs and expenses increased to $134.8 million, a 15% increase from the prior year. 
• Net loss widened to $11.9 million, up from $5.5 million during the same period last year. 

What you need to know: 

CEO Steve Daly touted that the company’s learning management system, Canvas, was now used by roughly 36% of North American colleges. But he said Canvas still has room to grow, noting that two of the company’s rivals — Blackboard and Moodle — collectively accounted for 40% of the North American LMS market.

Performance at a glance: 

• Revenue increased to $147.6 million, up 22.6% from a year ago. 
• Costs and expenses grew to $186.7 million, rising 18.5% from the year before. 
• Net loss decreased to $32.4 million, down 15.4% from the same period last year. 

What you need to know: 

Coursera’s entry-level professional certificates drove some of the revenue increases, with the company’s consumer segment contributing $82 million in the first quarter, up 20% from a year ago. The company’s work in upskilling employees of corporations and governments also saw large gains, with revenue rising 34% year over year to $52.2 million. 

Although the company also launched 10 new degree programs, its degree program segment’s revenue was nearly flat, with revenue increasing 1% from a year ago to $13.4 million.

Performance at a glance: 

• Revenue fell to $256.6 million, down 0.9% from a year ago. 
• Costs and expenses decreased to $245.4 million, a 4.9% decline from the prior year. 
• Net income was $7 million, compared to a loss of $2 million during the same period last year. 

What you need to know: 

Despite the revenue decline, enrollment in Strategic Education’s U.S.-based colleges — Strayer and Capella universities — had increased 2.3% to nearly 80,000 students. More than one-quarter of enrollment, 26.3%, stemmed from those two institutions training corporations’ employees. That was up from 23% during the same period last year.

Performance at a glance: 

• Revenue decreased to $238.5 million, down 5.9% from the year before. 
• Costs and expenses fell to $258.7 million, a 29.1% decline from the year before. 
• Net loss declined to $54.1 million, a drop from $125.8 million during the same period last year. 

What you need to know: 

2U CEO Chip Paucek lauded the company’s first-quarter performance, noting in a statement that it achieved adjusted free cash flow for the first time in its history. The company has been focusing more on becoming profitable since it acquired edX, a MOOC platform, in 2021.

Performance at a glance: 

• Revenue decreased to $269.9 million in the quarter ended Dec. 31, down 0.8% from the year before. 
• Costs and expenses fell to $242.3 million, declining by 0.8% from the prior year. 
• Net income declined to $18.3 million, a 15.5% decline from the same period last year. 

What you need to know: 

Strategic Education continued to see enrollment declines in its U.S. colleges, Strayer and Capella universities. Their student headcount fell to 78,062, down 0.8% from the year before. 

However, the company has made progress on its goal to have higher shares of its enrollment come from corporate clients looking to upskill their workers. During the fourth quarter, 24.7% of enrollment at Strayer and Capella was affiliated with employers, compared to 21.7% a year before.

Performance at a glance: 

• Grand Canyon Education’s revenue increased to $258.7 million in the quarter ended Dec. 31, up 2.9% from the year before. 
• Costs and expenses grew to $168 million, up 12.8% from the year before. 
• Profit dipped to $71 million, falling 16.5% compared to the same period during the previous year. 

What you need to know: 

Grand Canyon Education’s revenue growth was driven by increased in-person student enrollment at the company’s largest client, Grand Canyon University. However, the university continued to suffer from enrollment declines in its online programs, which saw 1.6% fewer students compared to the year before. 

Performance at a glance: 

• Revenue increased to $165.3 million for the quarter ended Dec. 31, up 22% from the year before. 
• Costs and expenses increased to $219.4 million, growing 24.4% from the previous year. 
• Net loss reached $52.2 million, up 26.1% from the same period last year. 

What you need to know:

The company’s executives chalked up revenue growth to Udemy Business, the MOOC company’s corporate learning platform. Revenue for this segment reached $90.6 million, up around 57% from the year before. 

Meanwhile, Udemy’s consumer segment struggled, with revenue declining 4% from the year before to $74.7 million. The platform’s average number of monthly consumers also fell. 

Performance at a glance: 

• Revenue reached $124.7 million in the quarter ended Dec. 31, increasing 12.8% from the year before. 
• Costs and expenses grew to $128.5 million, up 10.8% from the year before. 
• Net loss shrank to $5.7 million, down from $20.7 million during the same period last year. 

What you need to know: 

Instructure, which owns the Canvas learning management system, saw revenue grow as it continued to lead the North American LMS market. The company recently announced more major institutions were switching to its platform, including the University of Louisiana System.

Performance at a glance: 

• Revenue increased to $142.2 million during the fourth quarter ended Dec. 31, up 24% from the year before. 
• Costs and operating expenses increased to $198.2 million, up 22% from the year before. 
• Net loss increased to $51.7 million, up 8.3% from the prior year. 

What you need to know: 

Coursera, a prominent MOOC platform, touted a 21% year-over-year revenue increase in its consumer business, growth it attributed to demand for microcredentials and entry-level professional certificates. 

However, the company’s degree business fared poorly. Revenue for this segment fell 11% year over year to $11.9 million due to lower student enrollments.

Performance at a glance: 

• Revenue declined to $236 million for the quarter ended Dec. 31, 2022, down 3.1% from the year before. 
• Costs and expenses decreased to $230.6 million, down 21.4% from the prior year. 
• Net loss fell to $11.8 million, declining by 82.4% from the year before. 

What you need to know: 

2U has been focusing on becoming profitable as it makes edX, a prominent MOOC platform, the public-facing brand of the company. The online program manager is hoping it can lure users onto the platform through free offerings before moving them into paid certificate and degree programs. 

That strategy partly appears to be paying off, with the company paying $26.3 million less in marketing costs in the fourth quarter compared to the year before. However, revenue from 2U’s degree segment declined to $137.1 million, down 10% from the year before.

Performance at a glance: 

• Revenue of $232.2 million was flat in the quarter that ended Sept. 30, down just 0.1% from the same period last year. 
• Costs and expenses increased to $336.5 million, up almost 22% from a year ago. 
• Net loss increased to $121.7 million, more than doubling from the previous year. 

What you need to know: 

2U officials told analysts that the pause in revenue growth is only temporary as the company adopts a new strategy. That includes attracting students to a MOOC platform it acquired last year, edX. 2U could bring in students through free offerings on that platform and eventually sell them paid options, such as certificate and degree programs. 

While the company’s alternative credential revenue saw health growth, rising 12.3% year over year to $95 million, its degree segment declined 7.1%. The decrease was partly driven by enrollment declines in degree programs. Read more.

Performance at a glance: 

• Revenue decreased to $168.4 million in the quarter ending Sept. 30, down 3.2% from the same period last year. 
• Operating expenses increased to $139.1 million, up 2.2% from a year ago. 
• Profit declined to $22.1 million, down 20.5% from the year before. 

What you need to know: 

Perdoceo operates two for-profit institutions — Colorado Technical University and American InterContinental University System. The company saw declines within the system, with enrollment falling 9.5% to 15,200 students. Meanwhile, Colorado Technical’s enrollment grew 2.7% to 26,500 students. 

The company is continuing a focus on forging partnerships with corporations running tuition-assistance programs, Perdoceo CEO Andrew Hurst told analysts. It is also updating its student systems to improve advising.

Performance at a glance: 

• Revenue decreased to $263.1 million in the quarter ended Sept. 30, down 2.6% from the same period last year. 
• Costs and expenses declined to $255.3 million, falling 2.8% from the same period a year ago. 
• Profit increased to $6.1 million, up 58.1% from the year before. 

What you need to know: 

Strategic Education, which owns Strayer and Capella universities, continued to grapple with enrollment declines. Enrollment at these institutions fell to about 75,100 students, down 3.1% from the same period last year. 

However, Strategic Education CEO Karl McDonnell struck an optimistic tone, saying inquiries into the two institutions had grown by 30% over the prior year. “2022 will be our trough year for revenue and earnings,” he said. “Enrollment, revenue and earnings will be substantially higher in 2023.”

Performance at a glance: 

• Revenue rose to $158.4 million in the quarter ended Sept. 30, increasing 22.3% from the same period last year. 
• Cost of revenue and operating expenses increased to $201.7 million, rising 45% from the same period a year ago. 
• Net loss increased to $46.7 million, about five times greater than it was the year before. 

What you need to know: 

Udemy touted large gains in its business segment, which enables companies to train their workers with the MOOC platform’s content. Udemy said this segment’s revenue increased to $83.9 million in the third quarter, up 67% from a year ago. 

The company’s business segment also now accounts for more than half of its revenue. Meanwhile, Udemy’s consumer segment slipped to $74.6 million, a year-over-year decline of 6%. Still, the company says the demand for this segment is stable, and monthly average buyers have increased slightly.

Performance at a glance: 

• Revenue rose to $122.4 million in the quarter ended Sept. 30, increasing 14.2% from the same period last year. 
• Cost of revenue and operating expenses increased to $124.8 million, rising 11.2% from the same period a year ago. 
• Net loss shrank to $10.1 million, down 24.2% from the year before. 

What you need to know: 

Instructure chalked up some of its revenue gains to new clients for its LMS platform, Canvas, including the University of Texas at San Antonio. The company said in a press release that the university selected Canvas after using other Instructure products. 

Instructure's Canvas LMS has also made major gains in the K-12 sector, touting one market research report that says Canvas has displaced Google Classroom as the No. 1 company in this segment.

Performance at a glance:

• Revenue rose to $208.7 million for the quarter ending Sept. 30, ticking up 0.9% from the same period last year.
• Costs and expenses increased to $173.2 million, about 7.3%.
• Profit dropped to $30 million, down 37%.

What you need to know:

Grand Canyon Education, or GCE, provides services like marketing and recruitment to its largest client, Grand Canyon University. In return, it receives a portion of the university's tuition tuition revenue.

The company's revenue inched up as Grand Canyon University's enrollment of students attending class at its Phoenix campus rose 8% year-over-year. Revenue per student also increased. Those gains were partly offset by a 4.7% decline in Grand Canyon University's online enrollment.

The university's on-ground enrollment was 25,350 at the end of September. Its overall enrollment, counting on-ground and online students, totaled 110,928, down 2.2%.

Performance at a glance:

• Revenue grew to $136.4 million, up 24% from the same quarter last year.
• Cost of revenue and operating expenses totaled $172.7 million, up 22% from the year before.
• Net loss widened to $36 million, growing 11% from a year ago.

What you need to know:

Coursera, a major MOOC platform, grew year-over-year revenue in the third quarter thanks to demand for microcredentials and additional customers in its enterprise segment, including businesses, governments and campuses. Microcredential growth — among entry-level professional certificates in particular — helped drive up consumer revenue by 17% to $78 million. Enterprise revenue climbed by 51% to $48 million as Coursera's customer list grew 53% to 1,086.

Strength in the consumer and enterprise segments outpaced struggles in the MOOC provider's degrees segment, where revenue slipped 11% to $10.3 million because of lower student enrollment.

Performance at a glance: 

• Revenue decreased to $167.7 million in the quarter ended June 30, 2022, down 4.5% from the year before. 
• Operating expenses decreased to $133.7 million, down 4.2% from the year before. 
• Profit decreased to $25.8 million, down 3.3% from the year before. 

What you need to know: 

Perdoceo’s revenue declines were largely due to enrollment declines at the two for-profit institutions it oversees: Colorado Technical University and the American InterContinental University System. 

Enrollment decreased 2.3% year over year to 26,000 students at Colorado Technical by the end of June. It dropped even more sharply, by 14.5% from the year before, at American InterContinental University System, which now has about 14,100 students.

Performance at a glance: 

• Revenue decreased to $199.8 million in the quarter ended June 30, 2022, down 0.9% from the year before. 
• Costs and expenses increased to $165.9 million, up 9.7% from the year before. 
• Profit decreased to $25.6 million, down 48.3% from the year before. 

What you need to know:

Grand Canyon Education, or GCE, provides services such as marketing and recruitment to its largest client, Grand Canyon University, in exchange for a cut of the institution’s tuition revenue. But enrollment at the university fell to 92,233 students by the end of June, down 5.7% from the same period last year. Those declines were driven by a decrease in online enrollments, pushing down the company’s revenue. 

Still, GCE earned more revenue per student. That trend was driven by the university increasing room, board and other auxiliary revenue in 2022’s first half compared to the same period in the prior year.

Performance at a glance: 

• Revenue increased to $153.1 million, up 21% from the year before. 
• Cost of revenue and operating expenses rose to $181.6 million, up 32.5% from the year before. 
• Net loss increased to $29.4 million, about three times the loss the year before. 

What you need to know: 

The MOOC platform now counts about 54 million learners and 12,000 customers of Udemy Business, which allows companies to provide training to their workers. Udemy Business is growing rapidly, with revenue reaching $74.6 million in the second quarter, up 77% from the year before. 

The company also snagged high-profile customers for Udemy Business, including Samsung SDS and Cision US.

Performance at a glance: 

• Revenue increased to $114.6 million, up 22.5% from the year before. 
• Cost of revenue and operating expenses increased to $121.2 million, up 14.9% from the year before. 
• Net loss decreased to $12.9 million, down 40.4% from the year before. 

What you need to know: 

CEO Steve Daly touted the company’s market share gains in the learning management system sector. Daly cited a recent report from Edutechnica showing that Instructure’s LMS, Canvas, was used by 42% of U.S. higher education institutions, up from 39% last year. 

The company also experienced growth internationally, though Instructure’s LMS isn’t as widely used in foreign countries as it is in the U.S. “With our international higher education LMS market share in the single digits, we expect this segment to remain our fastest growing segment in the years ahead,” Daly said on a call with analysts.

Performance at a glance: 

• Revenue decreased to $51.4 million, down 25.7% from the year before. 
• Costs and expenses declined to $52.2 million, down 29% from the year before. 
• Net loss increased to $4.7 million, up 15.9% from the year before. 

What you need to know: 

Zovio announced that it terminated its contract with the University of Arizona Global Campus, an online college to which it provided education technology services like enrollment and recruitment. Additionally, it sold this segment of its business to UAGC. 

Under the purchase agreement, UAGC paid Zovio $1, took over an eight-year lease worth $20 million, hired “substantially all” educational services employees and released the company from all obligations under the prior contract. Zovio, meanwhile, paid UAGC $10.5 million and gave the university the right to a security deposit worth $2.7 million for taking over the lease. Read more.

Performance at a glance: 

• Revenue increased to $241.5 million, up 1.8% from the year before. 
• Costs and expenses decreased to $289.4 million, up 5.5% from the year before. 
• Net loss increased to $62.9 million, nearly tripling from the year before. 

What you need to know: 

2U announced across-the-board layoffs as the online program management company reoriented its company around edX, a MOOC platform that it recently acquired. The restructuring is expected to result in $70 million in annual cost savings. 

The company also announced changes to its tuition-share agreements. Companies can contract with 2U to help launch and manage their online programs in return for a share of their revenue — a cut now starting at 35%. Colleges that want more services will pay higher shares. Read more.

Performance at a glance: 

• Revenue increased to $124.8 million, up 22% from the year before. 
• Cost of revenue and operating expenses increased to $172.6 million, up 16.7% from the year before. 
• Net loss increased to $49.3 million, up 6.4% from the year before. 

What you need to know: 

Coursera, one of the world’s most prominent MOOC platforms, reported overall revenue growth in the second quarter. However, revenue from the company’s degree segment declined 4% to $11.4 million. 

The company helps colleges launch online degree programs on its platform in exchange for a cut of their tuition revenue. CEO Jeff Maggioncalda said the degree segment saw declines because enrollment was lower than expected, particularly in programs where the company’s revenue is concentrated. Read more. 

Performance at a glance: 

• Revenue decreased to $273.6 million in the quarter ended June 30, 2022, down 8.6% from the year before. 
• Costs and expenses decreased to $251.7 million, down 7.6% from the year before. 
• Profit decreased to $15.2 million, down 23.8% from the year before. 

What you need to know: 

Strategic Education continued to report enrollment challenges. Enrollment at Strayer and Capella universities decreased to about 77,000 students, declining almost 9% from a year ago. 

However, Karl McDonnell, Strategic Education’s CEO, said demand has been picking up for the company’s U.S. institutions. He also said that Workforce Edge, a tuition benefits platform the company owns, had 45 corporate agreements by the end of the second quarter, up from about 20 at the same time last year. Read more.

Performance at a glance: 

• Revenue decreased to $59.6 million in the quarter ended March 31, 2022, down 19.5% from the year before. 
• Costs and expenses decreased to $68.9 million, down 20.1% from the year before. 
• Net loss decreased to $7.4 million, down 21.7% from the year before. 

What you need to know: 

Zovio officials said they were continuing to explore selling all three segments of the company’s business, which are a boot camp provider, an online tutoring firm and a contract to provide educational services to the University of Arizona Global Campus. 

Randy Hendricks, Zovio’s CEO, said the company is also hoping to improve enrollment at UAGC and grow the two other businesses. Read more.

Performance at a glance: 

• Revenue increased to $253.3 million in the quarter ended March 31, 2022, up 9% from the year before. 
• Costs and expenses increased to $364.7 million, up from 35.3% from the year before. 
• Net loss increased to $125.8 million, nearly tripling from the year before. 

What you need to know: 

2U leaders are hoping that becoming more consumer-centric will help identify more prospective students for the company, which helps colleges launch and run online degrees. They also touted 2U’s recent acquisition of edX, a MOOC platform, and predicted it would account for 10% of the company’s overall lead volume in 2022. 

Chip Paucek, 2U’s CEO, said the company added all of its degree and other educational programs to edX’s website — a pivotal step in making the MOOC platform the company’s consumer-facing brand. Read more.

Performance at a glance: 

• Revenue increased to $365.6 million in the quarter ended March 31, 2022, up 58.8% from the year before. 
• Operating costs and expenses increased to $332.4 million, up 71.1% from the year before. 
• Profit increased to $349.8 million, 14 times higher than it was the year before. 

What you need to know: 

Adtalem CEO Stephen Beard said the for-profit operator had notched several recent wins. They include selling Adtalem’s financial services segment for $1 billion, using $770 million of the proceeds from the sale to pay off debt, and starting to buy back $150 million worth of the company’s shares.  

Adtalem also continued a new operating model meant to share services across the company’s for-profit colleges. Still, enrollment at those institutions continued to decline, particularly in post-licensure nursing programs.

Performance at a glance: 

• Revenue decreased to $183 million in the quarter ended March 31, 2022, down 0.4% from the year before. 
• Operating expenses decreased to $139.3 million, down 2.6% from the year before. 
• Profit increased to $32.1 million, up 4.3% from the year before. 

What you need to know: 

Officials at Perdoceo, which runs the for-profit American InterContinental University System and Colorado Technical University, said they expect enrollment declines to continue for the rest of 2022. By the end of March, total student enrollments at Perdoceo’s institutions were 14.7% lower than they were a year ago. 

Perdoceo CEO Andrew Hurst blamed those declines on the coronavirus pandemic. He said students have been pausing their education or deciding not to enroll altogether.

Performance at a glance: 

• Revenue increased to $244.1 million in the quarter ended March 31, 2022, up 3% from the year before. 
• Costs and expenses increased to $166.7 million, up 9.1% from the year before. 
• Profit decreased to $58.1 million, down 25.6% from the year before. 

What you need to know: 

Grand Canyon Education continued to face enrollment challenges due to the coronavirus pandemic, company leaders said. The company provides education services to more than two dozen colleges, and its largest client is Grand Canyon University. The institution’s enrollment fell to 106,003 students by the end of March, down 4.5% from a year ago. 

Leaders partly blamed the decreases on recruiting challenges caused by reduced access to the sites where prospective students work. However, Grand Canyon University’s on-campus enrollment grew to 21,504 students by the end of the quarter, representing a 9% increase. Read more.

Performance at a glance: 

• Revenue increased to $152.2 million in the quarter ended March 31, 2022, up 22.2% from the year before. 
• Cost of revenue and operating expenses increased to $177.5 million, up 25.9% from the year before. 
• Net loss increased to $25.6 million, up 42.6% from the year before. 

What you need to know: 

Udemy, a prominent MOOC provider, touted new corporate clients in the first quarter, including Baptist Health System and Crocs. It also created a new product for corporate clients that matches Udemy’s courses with workers’ professional aspirations.

Performance at a glance: 

• Revenue increased to $113.5 million in the quarter ended March 31, 2022, up 20.7% from the year before. 
• Cost of revenue and operating expenses decreased to $117.1 million, down 1.2% from the year before. 
• Net loss decreased to $5.5 million, down 83.2% from a year ago. 

What you need to know: 

Instructure, the company that owns the learning management system Canvas, touted several new clients. Starting in the first quarter, all 23 California State University institutions had selected Canvas. 

The company also recently announced the acquisition of Concentric Sky, which developed a tool to award badges for microcredentials. Instructure hopes to use the tool to better reach nontraditional online learners.

Performance at a glance: 

• Revenue decreased to $258.9 million in the quarter ended March 31, 2022, down 10.8% from the year before. 
• Costs and expenses decreased to $245.4 million, down 11.8% from the year before. 
•  Profit decreased to $7 million, down 26.6% from the year before. 

What you need to know:

Karl McDonnell, CEO of Strategic Education, said the company’s declining revenue reflects roughly two years' of falling enrollment at Strayer University, a for-profit college. McDonnell stressed that turning around that trend is the highest priority of the company, which also owns the for-profit Capella University.

Strategic Education finished the quarter with 37 corporate agreements for Workforce Edge, a tuition benefits platform the company helped launch. Officials are hoping the portal will entice workers to enroll in Strayer and Capella universities. It aims to have almost 1,000 students recruited through the platform by the end of 2022.

Performance at a glance: 

• Revenue increased to $120.4 million in the quarter ended March 31, 2022, up 36.3% from the year before. 
• Cost of revenue and operating expenses increased to $157.6 million, up 47.7% from the year before.
• Net loss increased to $38.3 million, roughly doubling from the year before. 

What you need to know: 

Coursera CEO Jeff Maggioncalda said the MOOC platform recently surpassed 100 million registered learners. Maggioncalda contended the company’s growth is partly due to automation requiring workers to learn new skills. 

In turn, college campuses are hoping to bolster the quality of their offerings, Maggioncalda said. Coursera continued to see growth in its enterprise segment, which includes businesses, governments and college customers that contract with the company for access to its educational offerings.

Performance at a glance: 

• Revenue increased to $371.2 million in the quarter ended Dec. 31, 2021, up 58.4% from the year before. 
• Operating costs and expenses increased to $346.5 million, up 68.7% from the year before. 
• Adtalem posted a profit of $17.9 million, down 22.9% from the year before. 

What you need to know: 

Adtalem CEO Stephen Beard touted the company’s recent agreement to sell the company’s financial services segment for $1 billion. The move is meant to help Adtalem, which owns several for-profit colleges, to transition into primarily being a provider of health care education. 

Yet the company continued to face declining enrollment at its institutions. Beard chalked up those dips to coronavirus-related challenges that forced health care workers to delay their education plans. He gave the example of the emergence of the highly contagious omicron variant.

Performance at a glance: 

• Revenue increased to $348.3 million in the quarter ended Sept. 30, 2021, up 29.9% from the year before. 
• Operating costs and expenses increased to $353.1 million, up 52.5% from the year before. 
• Adtalem posted a net loss of $58 million, down from a profit of $19.8 million the year before. 

What you need to know: 

Adtalem Global Education, which runs several for-profit colleges, is continuing its transition to becoming an education provider solely focused on health care, said Stephen Beard, the company’s new CEO. 

During the first quarter, Adtalem continued integrating Walden University, a for-profit institution it acquired in August, into the company. As part of the acquisition, Adtalem is introducing a new operating model to share services across the company’s institutions.