AI-extracted from the 10-Q filed 2026-07-30 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
GCE grew Q2 FY2026 service revenue 6.7% YoY to $264.0 million and net income rose 10.4% to $45.9 million, driven by 7.6% growth in university partner enrollments to 126,231.
Biggest Revenue Drivers
Service revenue$264.0M+6.7% YoY
Increase primarily due to 7.6% growth in university partner enrollments to 126,231, partially offset by a slight decline in revenue per student.
Biggest Revenue Drivers
Total revenue: $264.0M+6.7% YoY
Service revenue$264.0M+6.7% YoY
Increase primarily due to 7.6% growth in university partner enrollments to 126,231, partially offset by a slight decline in revenue per student.
Within Service revenue
GCU enrollments121,921 students+7.5% YoY
GCU is the Company's most significant university partner, driving the bulk of revenue growth.
Off-campus classroom and laboratory sites5,829 students+16.8% YoY
ABSN and other off-campus partner students generate significantly higher revenue per student than the GCU agreement due to higher revenue-share percentages and tuition rates.
Largest Expense Items
Counseling services and support$88.1M+6.1% YoY
Increased employee compensation and benefits ($4.7M) and occupancy/depreciation costs ($0.6M) from headcount added to support university partner enrollment growth.
Marketing and communication$60.0M+7.0% YoY
Increased advertising spend ($3.6M) to market university partners' programs and new locations.
Technology and academic services$45.6M+5.8% YoY
Higher employee compensation/benefits, other technology and academic costs, and occupancy/depreciation from increased enrollment and headcount.
General and administrative$10.1M-11.4% YoY
Decrease primarily due to lower professional (legal) fees.
Margins: Technology and academic services (17.3% vs 17.4%), counseling services and support (33.4% vs 33.5%), and G&A (3.8% vs 4.6%) all declined as a percentage of revenue on operating leverage from an increasing revenue base, while marketing ticked up slightly (22.7% vs 22.6%).
Watch Items from the Filing
GCU represented 89.4% of total service revenue for the six months ended June 30, 2026 and 2025, concentrating the business in a single university partner.
Three putative class actions (Smith and Wang, Ogdon, Valerio) allege misleading marketing of GCU graduate program costs, timing, and accreditation; discovery is ongoing with no trial dates set and no loss accrued.
The Amended and Restated MSA with GCU, effective July 1, 2026, is estimated to reduce annual service revenue by approximately $20 million, though the Company expects only an immaterial operating income impact.
The Company repurchased $195.7 million of stock in six months ended June 30, 2026, leaving only $148.7 million available under its authorization, which expires March 1, 2027.
The Amended MSA eliminates GCU's right to terminate for convenience and extends the term to 2041, reducing contract-termination risk versus the prior agreement.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Officers, directors and 10% owners with a Form 4 filed in the last 24 months, most recent first. From SEC EDGAR.
Warren Kevin F.Reporting ownerGrant or award · Jun 10, 2026
Ward SaraReporting ownerGrant or award · Jun 10, 2026
Henry Jack AReporting ownerGrant or award · Jun 10, 2026
Humphrey ChevyReporting ownerGrant or award · Jun 10, 2026
Keegan Lisa GrahamReporting ownerGrant or award · Jun 10, 2026
Mueller Brian ECEOGift · May 5, 2026
Meyer William StanCHIEF OPERATING OFFICERGift · May 5, 2026
Bachus Daniel ECHIEF FINANCIAL OFFICERGift · May 5, 2026
Marsh DilekCHIEF INFORMATION OFFICERShares withheld for tax or exercise price · Mar 1, 2026
Browning LoriCHIEF ACCOUNTING OFFICERShares withheld for tax or exercise price · Mar 1, 2026
Congress trading in LOPE
5 transactions in LOPE reported by 1 member of Congress under the STOCK Act, most recent trade May 6, 2024. Reported transactions, not recommendations.
About Grand Canyon Education, Inc. (LOPE): stock profile, AI score and financials
Grand Canyon Education, Inc. (LOPE) stock profile, AI quality score, and SEC EDGAR financial data, a Consumer Discretionary sector company. 13F Pro's AI-powered ranking engine scores LOPE at 61.5/100 on a composite quality score built from its SEC filings, placing it at rank #780 of 2,925 stocks — the top half of the AI-ranked universe. LOPE scores in the top quartile across balance sheet strength (97.2), profitability (75.2), free cash flow (75.0). Areas of concern include earnings quality (36.6), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q2 2026), Grand Canyon Education, Inc. reports quarterly revenue of $264.0M, net income of $45.9M, an operating margin of 22.0%. Top institutional holders of LOPE by reported 13-F value include BlackRock, FMR, VANGUARD PORTFOLIO MANAGEMENT, based on the most recent SEC filings. LOPE trades on the Nasdaq exchange and files with the SEC under CIK 1434588. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate LOPE daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Grand Canyon Education, Inc. directly from SEC EDGAR.