(Incorporated in Delaware) 

We are an online provider of secondary education – programs leading to bachelor’s degrees or graduate degrees (mostly master’s degrees) – to adult learners, primarily people ages 25 and up. Most adult learners are working full-time while earning their college degrees – and in many instances, these people also have caregiving responsibilities for children or elderly family members.

The prospectus includes an open letter from Chris Lynne, the president and CEO, who describes himself as the son of a single mother:

“For me, the mission we serve at the University of Phoenix is deeply personal.

“I was raised by a single mother who worked tirelessly to provide for us. She pursued her college degree over many years, often late at night and after long hours of work, driven by a belief that education could unlock a better future for our family. But despite her intelligence and determination, she was not able to successfully complete her degree. She didn’t face barriers due to grit or capability; the challenge was access. The system wasn’t designed for someone like her: a working parent with big dreams but limited flexibility.”

*Please see the prospectus (link in this IPO Profile) to read his entire letter.

Note: Net income and net revenue (in the chart in this IPO Profile) are for the first nine months of fiscal 2025, according to the prospectus:

“Our net revenue has increased from $710 million in the first nine months of fiscal year 2024 to $750 million in the first nine months of fiscal year 2025, and our net income has increased from $105 million in the first nine months of fiscal year 2024 to $118 million in the first nine months of fiscal year 2025.”

Note: The company’s fiscal year ends on August 31, according to the prospectus:

“Our fiscal year ends on August 31 of each year and our four fiscal quarters comprising our fiscal year end on the last day of November, February, May and August, respectively.”

Note – From the prospectus: “As of May 31, 2025, we had approximately 3,400 non-faculty employees, the substantial majority of whom were employed full-time. We also have approximately 2,300 faculty members as of May 31, 2025, the substantial majority of whom are adjunct faculty who have taught in the last twelve (12) months and are eligible to teach future courses.”

(Note: Phoenix Education Partners – also known as AP VIII Queso Holdings – and doing business as the University of Phoenix – filed its S-1 on Aug. 29, 2025, without disclosing the terms. Estimated IPO proceeds are $100 million, a placeholder figure.)