Phoenix Education Partners FY26 Q3 net income falls 27.3% to $39.17 million; net revenue flat at $271.8 million

General and administrative expense climbed 17.3% to $97.75 million, driven by higher compensation costs including IPO-related share-based compensation, plus higher advertising.

Strategic alternatives, restructuring and other costs jumped 74.6% to $11.94 million, on higher lease restructuring expense and higher litigation charges and regulatory expense.

Phoenix Education Partners posted net income attributable to shareholders of $39.17 million, down 27.3% year over year, as net revenue held flat at $271.8 million.

Operating income fell 27.1% to $51.83 million, pressured by a 9.7% rise in total costs and expenses to $219.98 million.

Average total degreed enrollment edged up to 85,300 from 84,800 a year earlier, while adjusted EBITDA slipped to $78.08 million from .