Eighth Consecutive Quarter of Enrollment Growth and Strong Financial Performance Position Company to Address Critical Healthcare Workforce Shortages at Unprecedented Scale
Adtalem Global Education Inc. today announced outstanding fourth quarter and fiscal year 2025 earnings results that underscore the company's position as the nation's leading healthcare educator and demonstrates the powerful momentum behind its Growth with Purpose strategy. The results mark a significant inflection point in Adtalem's growth trajectory, positioning the company as a category-defining leader in addressing critical healthcare workforce shortages across the U.S.
“The fundamentals driving our success aren't changing,” said Steve Beard, Adtalem’s chairman and chief executive officer. “Demand for our healthcare career-oriented programs continues to grow as the United States’ workforce shortage deepens. We're innovating and investing strategically to remove access barriers and expand capacity. This positions us to drive sustainable growth for many years ahead.”
Strong Financial Foundation Fuels Mission-Critical Growth
Adtalem's fiscal year 2025 financial results demonstrate the strength and sustainability of its business model. Revenue reached $1.79 billion, representing 12.9% year-over-year growth, diluted earnings per share was $6.18, and adjusted earnings per share1 of $6.67 marked an impressive 33% increase compared to the prior year. The company generated $333 million in operating cash flow1 and $283 million in free cash flow1 and returned while returning $211 million in capital to shareholders, reinforcing its commitment to disciplined capital allocation while investing in growth.
“We have achieved exceptional performance in fiscal year 2025,” said Bob Phelan, chief financial officer. “We will continue to execute on expanding access and delivering positive student outcomes. Deploying capital to meet the healthcare education market’s growing demand, maximizing long-term value, and ultimately generating high returns for all stakeholders.”
Enrollment Momentum Across All Segments
The company's enrollment growth tells a compelling story of market demand and institutional excellence. Total student enrollment grew 10.0% year-over-year, marking the eighth consecutive quarter of year-over-year total enrollment growth—a testament to Adtalem's ability to meet critical market demand at scale.
Chamberlain University achieved record enrollment in fiscal 2025, surpassing 40,000 students and delivering 5.8% enrollment growth in the fourth quarter alone. Meanwhile, Walden University posted double-digit growth every quarter in fiscal 2025, with total enrollment exceeding pre-pandemic levels. The company's medical and veterinary programs also demonstrated strong momentum with 1.0% fourth-quarter growth.
Addressing U.S. Healthcare Crisis at Unprecedented Scale
The significance of Adtalem's growth extends far beyond financial metrics. In fiscal 2025, the company served 91,780 students and graduated 29,000 professionals, directly addressing the acute healthcare talent shortage. Recent Lightcast research validates the critical role Adtalem plays in the healthcare ecosystem, showing that for-profit institutions graduate 21% of registered nurses with bachelor's degrees, filling a significant 17% of total demand, while their graduates are 1.5 times more likely to secure full-time roles and experience lower unemployment rates than their peers.
Building Scalable Workforce Solutions for Tomorrow
Adtalem's innovative approach to workforce development is exemplified by groundbreaking partnerships, positioning itself as the national hub directly connecting employers with day-one ready professionals. Chamberlain University’s new Aspiring Nurse Program with SSM Health represents a replicable and scalable model that will deliver more than 400 nurses annually across four states while offering tuition support, clinical experience and a direct pathway to employment. Student interest has already exceeded enrollment expectations, demonstrating strong market demand and program relevance.
Similarly, American University of the Caribbean School of Medicine and Massachusetts General Hospital are partnering to train Adtalem medical students on AI and healthcare technology—capabilities that will be crucial for the future of healthcare delivery.
Technology and Quality Investments Drive Student Success
Strategic investments in AI-powered learning platforms and student-facing technology improvements are enhancing both educational quality and operational efficiency across Adtalem's institutions. This commitment to innovation was recently recognized when both Chamberlain University and Walden University received designation as "Opportunity Colleges" by the Carnegie Foundation, a prestigious validation that Adtalem graduates achieve competitive wages in careers serving their communities.
Well-Positioned for Regulatory Evolution
As the higher education landscape continues to evolve, Adtalem's focus on healthcare education and strong graduate employment outcomes position the company advantageously. Given Adtalem’s proven track record of delivering strong graduate employment and earnings outcomes, Adtalem is well positioned for success regardless of regulatory changes.
Confident Outlook Reflects Competitive Advantages
Looking ahead to fiscal year 2026, Adtalem's leadership expressed confidence in the company's trajectory, citing the strength of its operational foundation, market-leading academic institutions, and mission-driven approach as distinct competitive advantages. With a clear strategy, proven execution, and the financial strength to scale its impact, the company is well-positioned to continue delivering value to all stakeholders while addressing the nation’s most critical workforce gaps.
For more information, email the Adtalem Communications Team: adtalemmedia@adtalem.com.
