Every material Form 8-K Grand Canyon Education has filed with the SEC since August 06, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Grand Canyon Education reported third quarter 2026 service revenue of $267.3 million, up 2.4%, and GAAP diluted EPS of $1.67 versus $0.58 a year earlier. The prior-year quarter included a $35.0 million litigation settlement, and adjusted diluted EPS was $1.77 versus $1.78 while adjusted EBITDA fell 3.2%, so the profit gain is largely a comparison effect. The board also approved a $355.0 million increase to its buyback authorization, and the company issued fourth quarter and full-year 2026 guidance.
Service revenue was $267.3 million, up from $261.1 million; university partner enrollments rose 5.2% to 145,270.
Diluted EPS was $1.67 versus $0.58; adjusted diluted EPS was $1.77 versus $1.78, and the prior-year quarter included a $35.0 million litigation settlement.
Adjusted EBITDA decreased 3.2% to $73.5 million from $75.9 million.
On October 28, 2026 the board approved a $355.0 million buyback increase; $394.5 million remained available as of November 2, 2026. Q4 2026 diluted EPS guidance is $3.57 to $3.61.
On September 28, 2026, Grand Canyon Education entered a five-year, $100.0 million senior secured revolving credit facility with Zions Bancorporation, N.A. dba National Bank of Arizona as administrative agent. The company intends to use borrowings mainly to fund stock repurchases and for general corporate purposes, and the facility carries covenants and default triggers that shareholders should note, including a delisting event of default.
$100.0 million five-year senior secured revolving facility dated September 28, 2026; includes a $10.0 million letter of credit sublimit
Borrowings intended primarily to fund repurchases of common stock under the board-approved repurchase program
Interest at one-month Term SOFR plus a margin of 1.50% to 2.00% based on leverage; quarterly unused fee of 0.0625%
Covenants require minimum fixed charge coverage of 1.10 to 1.00 and maximum leverage of 2.00 to 1.00; capital expenditures capped at $50.0 million per fiscal year
Grand Canyon Education said its Chief Financial Officer, Daniel E. Bachus, was placed on paid administrative leave effective August 21, 2026, in connection with an ongoing governmental investigation involving a non-employee third party's trades in Company stock. The Company said the leave is not related to its financial statements or accounting, and that it is not a focus of the investigation. The board named Lori Browning, its Chief Accounting Officer, as interim CFO and interim principal financial officer.
Daniel E. Bachus, CFO, placed on paid administrative leave effective August 21, 2026
Lori Browning, SVP & Controller – Chief Accounting Officer, appointed interim CFO and interim principal financial officer effective August 21, 2026
Company says the leave is not due to financial statement or accounting issues and that it is not a focus of the government investigation
Company has engaged outside counsel, is conducting its own investigation and is cooperating with the government
Grand Canyon Education reported second quarter 2026 service revenue of $264.0 million, up 6.7%, with operating income up 12.3% to $58.2 million and diluted EPS of $1.75 versus $1.48 a year earlier. The company also issued third quarter 2026 diluted EPS guidance of $1.68 to $1.72 and full-year 2026 guidance of $9.93 to $10.07, while unrestricted cash and investments fell to $274.5 million from $300.1 million at year-end 2025, largely due to share repurchases.
Service revenue of $264.0 million, up 6.7% from $247.5 million; university partner enrollments rose 7.6% to 126,231 at June 30, 2026
Diluted EPS of $1.75 versus $1.48; operating margin of 22.0% versus 20.9%
Q3 2026 guidance: service revenue of $268.5 million to $270.5 million and diluted EPS of $1.68 to $1.72; full-year 2026 diluted EPS of $9.93 to $10.07
Unrestricted cash and investments of $274.5 million at June 30, 2026, down from $300.1 million at December 31, 2025
Grand Canyon Education said director Jack A. Henry resigned from its Board, a resignation the company accepted after receiving written confirmation on June 22, 2026. The Board also reassigned two committee chair roles, which matters to shareholders because it changes who oversees audit and executive pay.
Jack A. Henry resigned as a director; he had served on the Board since November 2008.
Dr. Chevy Humphrey was appointed Audit Committee Chair, effective June 23, 2026, replacing Henry.
Kevin Warren was named Compensation Committee Chair, replacing Dr. Humphrey.
Grand Canyon Education reported first quarter 2026 results, with service revenue up 6.7% to $308.8 million and diluted earnings per share of $2.80, compared with $2.52 a year earlier. The company also issued second quarter, third quarter, fourth quarter and full-year 2026 outlook figures, including full-year service revenue of $1,169.3 million to $1,189.8 million and diluted EPS of $9.69 to $10.26.
Q1 2026 service revenue was $308.8 million, up $19.5 million from $289.3 million; operating income rose 8.5% to $95.5 million.
Net income was $75.3 million, up 5.2% from $71.6 million; diluted EPS was $2.80 versus $2.52.
Q2 2026 guidance calls for service revenue of $260.0 million to $264.0 million and diluted EPS of $1.57 to $1.68.
Cash and investments fell to $251.7 million at March 31, 2026 from $300.1 million, mainly due to share repurchases and capital expenditures.
Grand Canyon Education reported fourth quarter 2025 service revenue of $308.1 million, up 5.3%, and diluted EPS of $3.14 versus $2.84 a year earlier. For full year 2025, net income fell 4.4% to $216.2 million, weighed down by a $35.0 million litigation settlement, and the company issued 2026 guidance with full-year diluted EPS of $9.55 to $10.16.
Q4 2025 service revenue $308.1 million, up 5.3%; operating income $108.1 million, up 8.1%
Q4 2025 diluted EPS $3.14 vs. $2.84; full-year diluted EPS $7.71 vs. $7.73
Full-year 2025 net income $216.2 million, down 4.4%, including a $35.0 million litigation settlement
2026 full-year service revenue guidance of $1,167.5 million to $1,189.0 million; diluted EPS $9.55 to $10.16
Grand Canyon Education appointed Dilek Marsh as Chief Information Officer effective February 9, 2026, while she keeps her Chief Technology Officer role. She signed a new employment agreement that raises her annual base salary to $346,000 and sets a target bonus of 50% of base salary.
Effective date of appointment: February 9, 2026
Base salary increases to $346,000 under the new Employment Agreement
Target annual cash bonus increases to 50% of base salary, tied to performance metrics
Marsh has served as Chief Technology Officer since July 2021 and joined the company in 2008
Grand Canyon Education reported third quarter 2025 service revenue of $261.1 million, up 9.6% from a year earlier, but diluted earnings per share fell to $0.58 from $1.42 after a $35.0 million reserve for the settlement of a qui tam lawsuit. The company also gave fourth quarter and full year 2025 outlook, including full year diluted EPS of $7.66 to $7.77 on a GAAP basis, which includes the litigation reserve.
Q3 service revenue rose 9.6% to $261.1 million; GCU online enrollments rose 9.6% to 107,815.
Q3 net income fell 60.8% to $16.3 million; diluted EPS was $0.58 versus $1.42. Adjusted diluted EPS was $1.78 versus $1.48.
Full year 2025 guidance: service revenue of $1,103.0 million to $1,108.0 million and diluted EPS of $7.66 to $7.77 (adjusted $9.02 to $9.13).
Unrestricted cash and investments were $277.0 million at September 30, 2025, down from $324.6 million at December 31, 2024.
Grand Canyon Education said its Chief Information Officer, Kathy J. Claypatch, resigned, and the company accepted the resignation after receiving written confirmation on October 20, 2025. Ms. Claypatch had served as CIO since July 2021 and previously as Chief Technology Officer from October 2012. The filing does not name a successor or describe any financial impact.
Resigning officer: Kathy J. Claypatch, Chief Information Officer
Written confirmation of resignation received October 20, 2025; company accepted it
Claypatch served as CIO since July 2021 and as Chief Technology Officer from October 2012
Filing does not name a successor or give a reason for the departure
Grand Canyon Education reported second quarter 2025 results, with service revenue up 8.8% to $247.5 million and net income up 19.1% to $41.5 million year over year. The company also issued Q3 and full-year 2025 outlook figures, including full-year diluted EPS guidance of $8.75 to $8.90, which shareholders can compare against future results.
Service revenue of $247.5 million for the quarter ended June 30, 2025, up $20.0 million from $227.5 million a year earlier
Diluted EPS of $1.48 versus $1.19 a year earlier; net income of $41.5 million versus $34.9 million
Q3 2025 guidance: service revenue of $258.5 million to $260.5 million and diluted EPS of $1.69 to $1.74
Full-year 2025 guidance: service revenue of $1,100.3 million to $1,107.3 million and diluted EPS of $8.75 to $8.90
Grand Canyon Education reported first quarter 2025 results on May 6, 2025. Service revenue rose 5.3% to $289.3 million and diluted EPS rose to $2.52 from $2.29, while operating margin slipped to 30.4% from 30.8%. The company also issued quarterly and full-year 2025 outlooks, with full-year diluted EPS guidance of $8.36 to $8.70.
Service revenue of $289.3 million, up 5.3% from $274.7 million; partner enrollments rose 5.8% to 127,779.
Net income of $71.6 million, up 5.3%; diluted EPS of $2.52 vs. $2.29 (as adjusted $2.57 vs. $2.35).
Operating income of $88.0 million, up 4.2%; operating margin 30.4% vs. 30.8%.
Full-year 2025 outlook: service revenue of $1,079.8 million to $1,099.8 million; diluted EPS of $8.36 to $8.70.
Grand Canyon Education reported fourth-quarter 2024 service revenue of $292.6 million, up 5.1%, and diluted EPS of $2.84 versus $2.71 a year earlier, although operating margin fell to 34.2% from 35.1%. The company also issued full-year 2025 diluted EPS guidance of $8.20 to $8.59, compared with $7.73 for 2024, and its board approved a $200.0 million increase to the stock repurchase program, which shareholders may view as a return of capital.
Q4 2024 service revenue was $292.6 million, up $14.3 million or 5.1%; operating income was $100.0 million, up 2.3%.
Q4 2024 diluted EPS was $2.84 versus $2.71; net income was $81.9 million, up 1.4%.
2025 guidance: Q1 diluted EPS of $2.44 to $2.46 and full-year diluted EPS of $8.20 to $8.59.
On January 29, 2025, the board approved a $200.0 million buyback increase; $261.9 million remained available as of February 14, 2025, with authorization expiring March 1, 2026.
Grand Canyon Education reported third quarter 2024 service revenue of $238.3 million, up 7.4% from $221.9 million a year earlier, and diluted earnings per share of $1.42 versus $1.19. The company also issued fourth quarter and full year 2024 guidance, including full year diluted EPS of $7.76 to $7.79. Shareholders get a view of both growth in the quarter and the company's expected results for the rest of the year.
Q3 2024 service revenue $238.3 million, up 7.4%; GCU enrollments 123,002 at September 30, 2024, up 4.0%
Diluted EPS $1.42 vs $1.19; as adjusted diluted EPS $1.48 vs $1.26
Q4 2024 guidance: service revenue $289.0 million to $290.0 million; diluted EPS $2.86 to $2.89
Full year 2024 guidance: diluted EPS $7.76 to $7.79; cash, equivalents and investments $263.6 million at September 30, 2024
Grand Canyon Education agreed to pledge $100 million of its available cash to each of two banks, $200 million in total, to partly secure $500 million in loans its university partner, GCU, took out to refinance bonds issued in 2021. The company's cash is therefore tied up as collateral, though GCU has agreed to indemnify the company for claims arising from the pledges, except for losses finally determined by a court to result from the company's gross negligence or willful misconduct.
Two loans totaling $500.0 million were made to GCU on October 1, 2024: $250.0 million from MidFirst Bank and $250.0 million from Zions Bancorporation's National Bank of Arizona (NBAZ).
The company pledged $100.0 million of available cash to each bank, and GCU provided $300.0 million of its own cash as collateral.
Stated maturities are April 1, 2025 under the NBAZ loan and October 1, 2026 under the MidFirst loan.
The pledges end when GCU repays at least $100.0 million of the MidFirst loan, or when the NBAZ loan is paid in full, or when GCU substitutes $100.0 million of cash collateral.
Grand Canyon Education reported second quarter 2024 service revenue of $227.5 million, up 8.0% from a year earlier, and net income of $34.9 million, up 20.4%. The company also issued Q3 and full-year 2024 guidance, including full-year diluted EPS of $7.63 to $7.81, which shareholders can compare with future results.
Service revenue was $227.5 million for the quarter ended June 30, 2024, up $16.9 million, or 8.0%, from $210.6 million.
Diluted EPS was $1.19 versus $0.96 a year earlier; operating margin was 18.8% versus 16.8%.
Included $1.1 million in severance costs tied to an executive who resigned effective June 30, 2024.
Guidance: Q3 2024 diluted EPS of $1.37 to $1.43; full-year 2024 diluted EPS of $7.63 to $7.81.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Grand Canyon Education filing is on SEC EDGAR ↗. 8-K briefs of other companies →