Adtalem Global Education Inc 2025年季度报告

FORM 10-Q (Mark One) ☐QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period ended December 31, 2024 or ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number: 001-13988 (Exact name of registrant as specified in its charter) Delaware36-3150143(State or other jurisdiction of(I.R.S. Employerincorporation or organization)Identification No.) 500 West Monroe StreetChicago, Illinois60661(Address of principal executive offices)(Zip Code) (312) 651-1400(Registrant’s telephone number; including area code) Not Applicable(Former name, former address and former fiscal year, if changed since last report) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required tofile such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes þ No◻ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period thatthe registrant was required to submit such files). Yes þ No◻ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Accelerated filerSmaller reporting companyEmerging growth company Large accelerated filerþNon-accelerated filer◻ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition periodfor complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.◻ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No þ As of January 24, 2025, there were 37,264,816 shares of the registrant’s common stock, $0.01 par value per share outstanding. Adtalem Global Education Inc.Form 10-QTable of Contents PagePart I. Financial InformationItem 1.Financial Statements1Consolidated Balance Sheets1Consolidated Statements of Income2Consolidated Statements of Cash Flows3Consolidated Statements of Shareholders’ Equity4Notes to Consolidated Financial Statements5Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations26Item 3.Quantitative and Qualitative Disclosures About Market Risk43Item 4.Controls and Procedures43Part II. Other InformationItem 1.Legal Proceedings43Item 1A.Risk Factors43Item 2.Unregistered Sales of Equity Securities and Use of Proceeds43Item 5.Other Information44Item 6.Exhibits44Signature45 Adtalem Global Education Inc.Consolidated Balance Sheets(unaudited)(in thousands, except par value) See accompanying Notes to Consolidated Financial Statements. Adtalem Global Education Inc.Consolidated Statements of Income(unaudited)(in thousands, except per share data) Adtalem Global Education Inc.Consolidated Statements of Cash Flows(unaudited)(in thousands) See accompanying Notes to Consolidated Financial Statements. Adtalem Global Education Inc.Notes to Consolidated Financial Statements(unaudited)Table of Contents NotePage1Nature of Operations62Summary of Significant Accounting Policies63Discontinued Operations84Revenue85Restructuring Expense106Other Income, Net117Income Taxes118Earnings per Share129Accounts and Financing Receivables1210Property and Equipment, Net1511Leases1512Goodwill and Intangible Assets1613Debt1814Share Repurchases2115Stock-Based Compensation2116Fair Value Measurements2217Commitments and Contingencies2418Segment Information25 1. Nature of Operations In this Quarterly Report on Form 10-Q, Adtalem Global Education Inc., together with its subsidiaries, iscollectively referred to as “Adtalem,” “we,” “our,” “us,” or similar references. Adtalem reports on a fiscal yearperiod ending on June 30. Therefore, this Quarterly Report for the quarterly period ended December 31, 2024 is forour second quarter of fiscal year 2025. Adtalemis the leading healthcare educator in the U.S.Our schools consist of Chamberlain University(“Chamberlain”), Walden University (“Walden”), American University of the Caribbean School of Medicine(“AUC”), Ross University School of Medicine (“RUSM”), and Ross University School of Veterinary Medicine(“RUSVM”). AUC, RUSM, and RUSVM are collectively referred to as the “medical and veterinary schools.”“Home Office” includes activities not allocated to a repo