Adtalem Global Education Inc. (ATGE): Business Model Canvas

In der dynamischen Landschaft der globalen Bildung erweist sich Adtalem Global Education Inc. (ATGE) als transformatives Kraftpaket, das strategisch die Lücke zwischen beruflichen Ambitionen und innovativen Lernerfahrungen schließt. Durch die sorgfältige Ausarbeitung eines umfassenden Geschäftsmodells, das Gesundheitsversorgung, Berufsausbildung und Personalentwicklung umfasst, hat sich ATGE als zentraler Katalysator für den beruflichen Aufstieg positioniert und bietet flexible, branchengerechte Bildungswege, die es Fachleuten und Studenten gleichermaßen ermöglichen, ihr volles Potenzial in einem sich ständig weiterentwickelnden globalen Markt auszuschöpfen.

Adtalem Global Education Inc. (ATGE) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Allianzen mit Gesundheitseinrichtungen für medizinische Ausbildungsprogramme

Adtalem unterhält strategische Partnerschaften mit mehreren Ausbildungseinrichtungen im Gesundheitswesen:

Partnerinstitution	Fokus auf Zusammenarbeit	Gründungsjahr
Medizinische Fakultät der American University of the Caribbean	Medizinisches Ausbildungsprogramm	2013
Medizinische Fakultät der Ross University	Medizinische Studiengänge	2013
St. George's University	Medizinische und veterinärmedizinische Ausbildung	2018

Zusammenarbeit mit professionellen Zertifizierungsstellen

Adtalem arbeitet mit mehreren professionellen Zertifizierungsorganisationen zusammen:

• National Board of Medical Examiners (NBME)
• American Veterinary Medical Association (AVMA)
• Bildungskommission für ausländische Medizinabsolventen (ECFMG)

Partnerschaften mit Anbietern von Online-Lerntechnologie

Technologiepartner	Service bereitgestellt	Umsetzungsjahr
Canvas strukturieren	Lernmanagementsystem	2019
Zoom-Videokommunikation	Virtuelle Klassenzimmerplattform	2020

Vereinbarungen mit Arbeitgebern zur Personalentwicklung

Zu den wichtigsten Arbeitgeberpartnerschaften gehören:

• Netzwerk für Gesundheitssysteme
• Hospital Corporation of America (HCA)
• Große regionale Gesundheitsdienstleister

Beziehungen zu Akkreditierungsagenturen

Adtalem unterhält Akkreditierungen bei:

• Kommission für höhere Bildung
• Akkreditierungsrat für Business Schools und Programme (ACBSP)
• Rat für Bildung für öffentliche Gesundheit (CEPH)

Adtalem Global Education Inc. (ATGE) – Geschäftsmodell: Hauptaktivitäten

Bereitstellung von Online- und persönlichen Bildungsprogrammen

Adtalem ist in mehreren Bildungssegmenten mit spezifischen Programmbereitstellungskennzahlen tätig:

Segment	Programmtypen	Jährliche Einschreibung
Medizin und Veterinärmedizin	Medizinische Online-/On-Campus-Programme	7.800 Studierende
Berufsausbildung	Zertifizierungs- und Studiengänge	15.300 Studierende
International	Globale Bildungsdienste	5.200 Studierende

Entwicklung eines Lehrplans für die Berufsausbildung

Die Lehrplanentwicklung konzentriert sich auf:

• Ausbildung zum Gesundheitsfachmann
• Technologie- und Business-Zertifizierungsprogramme
• Compliance-orientierte Berufsausbildung

Rekrutierung und Schulung von Fakultätsmitgliedern

Fakultätskategorie	Gesamtfakultät	Durchschnittliche Qualifikation
Vollzeitpädagogen	1.200 Fachkräfte	PhD/Professioneller Doktortitel
Zusätzliche Ausbilder	2.800 Fachkräfte	Branchenexperten

Vermarktung von Bildungsdienstleistungen für potenzielle Studenten

Marketingausgaben: 42,3 Millionen US-Dollar pro Jahr

• Digitale Marketingkanäle
• Direkte Rekrutierungsstrategien
• Branchenpartnerschaftsmarketing

Aufrechterhaltung der Infrastruktur für Bildungstechnologie

Technologieinvestitionen	Jährliche Ausgaben	Schwerpunktbereiche
Lernmanagementsysteme	18,7 Millionen US-Dollar	Online-Plattformentwicklung
Cybersicherheit	6,2 Millionen US-Dollar	Datenschutz
Digitale Lerntools	12,5 Millionen US-Dollar	Interaktive Bildungstechnologie

Adtalem Global Education Inc. (ATGE) – Geschäftsmodell: Schlüsselressourcen

Digitale Lernplattformen und Bildungstechnologie

Adtalem Global Education betreibt in seinen Bildungssegmenten mehrere digitale Lernplattformen:

Plattform	Benutzer	Technologieinvestitionen
Chamberlain University online	12.500 aktive Online-Studenten	24,3 Millionen US-Dollar Investition in die Technologieinfrastruktur im Jahr 2023
Digitales Lernen der Ross University	3.800 Medizin- und Veterinärstudenten	17,6 Millionen US-Dollar Budget für die Entwicklung digitaler Plattformen

Erfahrene akademische und professionelle Ausbilder

Zusammensetzung des Lehrpersonals:

• Gesamtfakultät: 2.345 über alle Institutionen hinweg
• Inhaber eines Doktortitels/Terminalabschlusses: 68 %
• Durchschnittliche Lehrerfahrung: 12,4 Jahre

Umfangreiches Netzwerk von Bildungscampussen

Institution	Physische Campusse	Geografische Verbreitung
Chamberlain-Universität	24 physische Standorte	15 US-Bundesstaaten
Ross-Universität	3 Hauptcampusse	Standorte in der Karibik und in den USA

Starker Markenruf in der Berufsausbildung

Markenkennzahlen:

• Markenbekanntheitswert: 82/100
• Zufriedenheitsrate der Studierenden: 87 %
• Arbeitgeberpartnerschaftsnetzwerk: über 1.200 Gesundheits- und Berufsverbände

Umfassende Studentenunterstützungsdienste

Support-Services-Infrastruktur:

• 24/7-Online-Studentenunterstützungszentrum
• Berufsvermittlungsteam: 185 engagierte Fachkräfte
• Jährliches Budget für Karriereunterstützung: 12,4 Millionen US-Dollar

Adtalem Global Education Inc. (ATGE) – Geschäftsmodell: Wertversprechen

Berufsorientierte Berufsausbildungsprogramme

Adtalem Global Education bietet spezialisierte Bildungsprogramme für verschiedene Berufsbereiche an:

Sektor	Programmtypen	Jährliche Einschreibung
Gesundheitswesen	Medizin, Krankenpflege, Veterinärmedizin	32.500 Studierende
Geschäft	MBA, Buchhaltung, Finanzen	24.700 Studierende
Technologie	Informationssysteme, Cybersicherheit	15.600 Studierende

Flexible Lernoptionen

Aufschlüsselung der Lernmodalitäten:

• Online-Programme: 68 % der Gesamteinschreibungen
• Hybridprogramme: 22 % der Gesamteinschreibungen
• On-Campus-Programme: 10 % der gesamten Einschreibung

Branchenorientierter Lehrplan

Kennzahlen zur Lehrplanentwicklung:

Lehrplanaspekt	Details	Häufigkeit
Beratung durch Branchenexperten	Überprüfung des Lehrplans	Vierteljährlich
Arbeitgeber-Feedback-Integration	Programmanpassungen	Halbjährlich

Zertifizierungs- und Studiengänge

Programmverteilung:

• Associate Degrees: 22 %
• Bachelor-Abschlüsse: 45 %
• Master-Abschlüsse: 28 %
• Professionelle Zertifizierungen: 5 %

Möglichkeiten zur beruflichen Weiterentwicklung

Statistiken zur beruflichen Entwicklung:

Entwicklungstyp	Jährliche Teilnehmer	Durchschnittliche Kosten
Weiterbildung	17,300	$1,850
Professionelle Workshops	8,900	$750
Karriere-Coaching	6,500	$450

Adtalem Global Education Inc. (ATGE) – Geschäftsmodell: Kundenbeziehungen

Personalisierte Studentenunterstützungsdienste

Adtalem Global Education bietet in seinen Bildungseinrichtungen spezielle Unterstützungsdienste für Studierende an:

Support-Service	Anzahl der betreuten Studenten	Jährliche Investition
Studienberatung	95.342 Studierende	4,7 Millionen US-Dollar
Online-Nachhilfe	62.184 Studierende	2,3 Millionen US-Dollar
Technischer Support	108.756 Studierende	3,9 Millionen US-Dollar

Alumni-Netzwerkplattformen

Adtalem verfolgt solide Strategien zur Einbindung von Alumni:

• Insgesamt registriertes Alumni-Netzwerk: 247.600 Mitglieder
• Nutzer digitaler Netzwerkplattformen: 186.450
• Teilnehmer der jährlichen Alumni-Veranstaltung: 24.760

Karriereberatung und Unterstützung bei der Arbeitsvermittlung

Karriereservice	Anzahl der betreuten Studierenden	Platzierungsrate
Lebenslaufentwicklung	53.421 Studierende	87.3%
Vorbereitung auf Vorstellungsgespräche	47.893 Studierende	82.6%
Direkte Stellenvermittlung	39.276 Studierende	76.5%

Kontinuierliche Kommunikation über digitale Kanäle

Digitale Kommunikationskennzahlen für Adtalem:

• Häufigkeit der E-Mail-Kommunikation: Wöchentlich
• Social-Media-Follower: 412.350
• Nutzer mobiler Apps: 156.780
• Durchschnittliche digitale Interaktionszeit: 17,4 Minuten pro Sitzung

Ressourcen für kontinuierliches Lernen und Weiterqualifizierung

Lernressource	Anzahl der Benutzer	Jährliche Kosten
Online-Zertifizierungsprogramme	34.562 Teilnehmer	6,2 Millionen US-Dollar
Workshops zur beruflichen Weiterentwicklung	28.743 Teilnehmer	4,8 Millionen US-Dollar
Webinar-Reihe	52.189 Teilnehmer	2,1 Millionen US-Dollar

Adtalem Global Education Inc. (ATGE) – Geschäftsmodell: Kanäle

Online-Lernplattformen

Ab dem zweiten Quartal 2023 ist Adtalem in Betrieb 6 primäre Online-Lernplattformen in allen Bildungsbereichen.

Plattform	Anzahl der Online-Programme	Jährliche Online-Einschreibung
Chamberlain University online	32 Programme	12.500 Studierende
Amerikanische Universität der Karibik online	15 Programme	3.200 Studierende
Ross Medical Education online	22 Programme	5.800 Studierende

Sportliche Bildungscampusse

Adtalem behauptet 47 physische Campusstandorte über mehrere Bildungssegmente hinweg.

• Campus für Gesundheitsausbildung: 22
• Medizinische und veterinärmedizinische Campusse: 15
• Berufsbildungsstandorte: 10

Digitales Marketing und Personalbeschaffung

Ausgaben für digitales Marketing für 2023: 18,3 Millionen US-Dollar

Digitaler Kanal	Zuweisung des Marketingbudgets	Conversion-Rate
Google-Anzeigen	6,2 Millionen US-Dollar	3.7%
Social-Media-Werbung	4,5 Millionen US-Dollar	2.9%
Programmatische digitale Anzeigen	3,6 Millionen US-Dollar	2.5%

Bildungsberater und Personalvermittler

Adtalem arbeitet mit zusammen 127 externe Rekrutierungspartner weltweit.

• Internationale Personalvermittler: 82
• Inländische Rekrutierungspartner: 45

Soziale Medien und digitale Kommunikationskanäle

Kennzahlen zum Social-Media-Engagement für 2023:

Plattform	Follower/Abonnenten	Engagement-Rate
LinkedIn	85,400	4.2%
Facebook	62,300	3.7%
Instagram	41,200	2.9%

Adtalem Global Education Inc. (ATGE) – Geschäftsmodell: Kundensegmente

Berufstätige, die einen beruflichen Aufstieg anstreben

Ab 2024 richtet sich Adtalem an 1.245.000 Berufstätige, die ihre Karriere durch Online- und Hybrid-Bildungsprogramme vorantreiben möchten.

Segmentcharakteristik	Statistische Daten
Durchschnittsalter	28-42 Jahre
Jahreseinkommensspanne	$65,000 - $110,000
Prognostiziertes Wachstum	7,3 % im Jahresvergleich

Aktuelle Abiturienten

Adtalem betreut 312.500 Abiturienten in verschiedenen Bildungsprogrammen.

• Eingeschriebene Studenten: 187.900
• Durchschnittliche Abschlussquote des Programms: 62,4 %
• College-Studenten der ersten Generation: 41,6 %

Fachleute aus der Gesundheitsbranche

Das Segment der Gesundheitsfachkräfte umfasst im Jahr 2024 453.000 Studierende.

Professionelle Kategorie	Anzahl der Studierenden
Krankenpflege	276,300
Medizintechnik	87,600
Gesundheitsverwaltung	89,100

Internationale Studierende

Das Segment der internationalen Studierenden umfasst 124.700 Studierende an weltweiten Standorten.

• Top-Herkunftsländer: Indien, China, Brasilien
• Internationale Online-Einschreibung: 42,3 %
• Durchschnittliche Studiengebühren pro internationalem Studierenden: 22.500 US-Dollar

Kunden aus den Bereichen Unternehmensschulung und Personalentwicklung

Das Unternehmenssegment generiert einen Jahresumsatz von 287,6 Millionen US-Dollar aus 1.200 Unternehmenspartnerschaften.

Art der Unternehmenspartnerschaft	Anzahl der Partnerschaften
Fortune-500-Unternehmen	312
Mittelständische Unternehmen	628
Schulung für Kleinunternehmen	260

Adtalem Global Education Inc. (ATGE) – Geschäftsmodell: Kostenstruktur

Vergütung der Fakultät und des Personals

Für das Geschäftsjahr 2023 meldete Adtalem Global Education Gesamtpersonalkosten in Höhe von 479,7 Millionen US-Dollar. Die Aufschlüsselung der Entschädigung umfasst:

Mitarbeiterkategorie	Jährliche Kosten
Vollzeit-Fakultät	267,3 Millionen US-Dollar
Verwaltungspersonal	152,4 Millionen US-Dollar
Teilzeitlehrer	60,0 Millionen US-Dollar

Wartung von Technologie und Infrastruktur

Die Ausgaben für die Technologieinfrastruktur beliefen sich im Jahr 2023 auf insgesamt 87,5 Millionen US-Dollar, darunter:

• Digitale Lernplattformen: 42,3 Millionen US-Dollar
• Netzwerk- und Cybersicherheit: 22,6 Millionen US-Dollar
• Hardware- und Software-Upgrades: 22,6 Millionen US-Dollar

Ausgaben für Marketing und Studentenrekrutierung

Die gesamten Marketingausgaben für das Geschäftsjahr 2023 beliefen sich auf 156,2 Millionen US-Dollar mit folgender Aufteilung:

Marketingkanal	Kosten
Digitales Marketing	68,7 Millionen US-Dollar
Traditionelle Werbung	47,3 Millionen US-Dollar
Rekrutierungsveranstaltungen	40,2 Millionen US-Dollar

Lehrplanentwicklung und Akkreditierung

Die Investitionen in die Lehrplanentwicklung und Akkreditierung für 2023 beliefen sich auf 63,9 Millionen US-Dollar:

• Gestaltung und Aktualisierung des Lehrplans: 38,6 Millionen US-Dollar
• Akkreditierungsverfahren: 15,3 Millionen US-Dollar
• Entwicklung von Bildungsinhalten: 10,0 Millionen US-Dollar

Verbesserung des Forschungs- und Bildungsprogramms

Die Ausgaben für Forschung und Programmverbesserung beliefen sich im Jahr 2023 auf 52,4 Millionen US-Dollar und verteilten sich wie folgt:

Forschungskategorie	Investition
Akademische Forschung	27,6 Millionen US-Dollar
Programminnovation	16,8 Millionen US-Dollar
Bildungstechnologie	8,0 Millionen US-Dollar

Adtalem Global Education Inc. (ATGE) – Geschäftsmodell: Einnahmequellen

Studiengebühren aus Bildungsprogrammen

Für das Geschäftsjahr 2023 meldete Adtalem Global Education einen Gesamtnettoumsatz von 1,42 Milliarden US-Dollar. Die Aufteilung der Einnahmequellen ist wie folgt:

Segment	Umsatz (Mio. USD)	Prozentsatz
Medizin und Veterinärmedizin	$651.5	45.9%
Berufsausbildung	$510.2	35.9%
Wirtschaft und Technologie	$258.3	18.2%

Einnahmen aus professionellen Zertifizierungskursen

Die Einnahmen aus der professionellen Zertifizierung trugen im Jahr 2023 etwa 215,6 Millionen US-Dollar bei, hauptsächlich aus:

• Kurse zur Vorbereitung auf die Zertifizierungsprüfung
• Programme zur beruflichen Qualifizierung
• Weiterbildungspunkte

Unternehmensschulungs- und Personalentwicklungsverträge

Unternehmensschulungsverträge generierten im Jahr 2023 einen Umsatz von 87,4 Millionen US-Dollar, wobei die Hauptschwerpunkte darin liegen:

• Personalentwicklung im Gesundheitswesen
• Schulung von Technologiekompetenzen
• Professionelle Compliance-Programme

Online-Kurs- und Programmabonnements

Digitale Lernplattformen generierten im Jahr 2023 Abonnementeinnahmen in Höhe von 124,7 Millionen US-Dollar, was einem Wachstum von 12,3 % gegenüber dem Vorjahr entspricht.

Alumni-Netzwerk und Weiterbildungsangebote

Alumni- und Weiterbildungsdienste trugen im Jahr 2023 53,2 Millionen US-Dollar zu wiederkehrenden Einnahmen bei ca. 42.000 aktive Alumni-Teilnehmer.

Einnahmequelle	Umsatz 2023 (Mio. USD)	Wachstum im Jahresvergleich
Gesamtnettoumsatz	$1,420.0	5.7%
Online-Abonnements	$124.7	12.3%
Professionelle Zertifizierungen	$215.6	8.5%

Adtalem Global Education Inc. (ATGE) - Canvas Business Model: Value Propositions

You're looking at the core reasons why Adtalem Global Education Inc. attracts students and partners, especially given the ongoing U.S. healthcare talent crunch. The value propositions here aren't abstract; they are tied directly to career outcomes and addressing national needs.

Direct pathway to employment in high-demand healthcare roles

The focus is on getting graduates into practice quickly. For the 2024-2025 academic year, Adtalem's medical schools, American University of the Caribbean School of Medicine (AUC) and Ross University School of Medicine (RUSM), achieved a combined 95% first-time residency attainment rate. This marks the fourth consecutive year they've hit at least 95%. That success translates into over 615 students and graduates training at more than 325 health facilities across 42 U.S. states and territories. Furthermore, Ross University School of Veterinary Medicine (RUSVM) ranked first among all universities in total graduates matched into competitive internships and residencies in 2025.

High student outcomes, including a 95% residency match rate for medical graduates

The residency match success is a cornerstone. Of the 600-plus new residents from RUSM and AUC, about 64% are entering primary care fields like family medicine, pediatrics, and internal medicine. More than 450 students and graduates matched into primary care residencies. To directly combat access gaps, over 55% of those primary care matches will train in primary care Health Professional Shortage Areas (HPSAs). Also, more than 40% of AUC and RUSM residency placements are set to train in federally designated Medically Underserved Areas / Populations (MUA/Ps).

Programs designed to address critical U.S. healthcare workforce shortages

Adtalem Global Education Inc. positions itself as essential infrastructure for healthcare delivery. In fiscal year 2025, the company graduated 29,000 students, with 90% entering healthcare professions. The overall enrollment scale is significant; as of September 30, 2025, total student enrollment reached 97,359, up 8.0% year-over-year. The projected shortage of 187,000 physicians by 2037 underscores the ongoing need Adtalem addresses.

Here's a quick look at the scale across the main institutions as of late 2025:

Institution/Metric	Latest Enrollment/Graduation Figure	Year-over-Year Enrollment Growth (Q3 FY2025)
Total Students Served (FY2025)	91,780	N/A
Chamberlain University Enrollment (FY2025)	More than 40,500	6.8%
Walden University Enrollment (FY2025)	Exceeding 48,500	13.5%
Medical & Veterinary Enrollment (FY2025 Avg)	Approx. 5,000	1.0% (Q4 FY2025 Growth)

Inclusive access to education for working adults and diverse students

The model is built for accessibility. Chamberlain University, which is the nation's largest nursing school, is the No. 1 provider of nursing degrees to minority students. For its Bachelor of Science in Nursing (BSN) Online Option, Chamberlain recruits nontraditional students, including those whose education was interrupted. In the medical pipeline, 173 students and graduates identify as Black/African American or Hispanic, actively working to diversify the physician ranks. For-profit institutions like those in the Adtalem portfolio graduate 21% of registered nurses with bachelor's degrees, filling a significant 17% of total demand.

Flexible learning models, including online and hybrid delivery

Flexibility is key to serving this population. Chamberlain's BSN Online Option is now offered in 36 states and is expanding its physical presence with 44 clinical hub locations, aiming for more than 65 hubs by the end of fiscal year 2026. This approach helps students get clinical experience closer to home. To give you a sense of the academic quality supporting these flexible models, Chamberlain reports a four-year graduation rate of 71.2% for full-time undergraduate students, which is well above the roughly 50% rate across all four-year institutions. The overall fiscal year 2025 revenue was $1,788.3 million, up 12.9% year-over-year, showing strong demand for these offerings.

You should look closely at the capital deployment, too. The company generated $283 million in free cash flow in fiscal 2025 and returned $211 million in capital to shareholders, showing they are funding growth while rewarding investors.

Finance: draft 13-week cash view by Friday.

Adtalem Global Education Inc. (ATGE) - Canvas Business Model: Customer Relationships

Adtalem Global Education Inc. focuses customer relationships on driving persistence and ensuring graduates are practice-ready for critical healthcare roles. This involves intensive support structures and leveraging technology for personalized engagement across the student lifecycle.

High-touch student support to drive persistence and outcomes

The relationship model emphasizes direct support to keep students on track to graduation. For medical school graduates, the focus is on successful placement into residency programs. The combined American University of the Caribbean School of Medicine and Ross University School of Medicine achieved a 95% first-time residency attainment rate for 2024-2025 graduates, maintaining at least 95% attainment for the fourth consecutive year. This placed more than 615 students and graduates into over 325 unique healthcare facilities.

For Walden University, faculty and staff continue to use AI to create adaptive student learning tools, which have increased their student persistence rates. Furthermore, the Believe and Achieve scholarship program, which can reduce the cost of program completion by up to 25%, has seen over 50,000 students participating since its launch in fiscal year 2023.

Dedicated career services and employer relationship management

Career services are deeply integrated to ensure graduates meet employer needs. In fiscal year 2025, Adtalem Global Education Inc. graduated 29,000 professionals. Of these graduates, 90% entered healthcare professions. Research from Lightcast validates the effectiveness of this pipeline, showing that Adtalem graduates are 1.5 times more likely to secure full-time roles compared to their peers and experience lower unemployment rates. The Ross University School of Medicine's Return Home program, which connects aspiring physicians with clinical rotations in their home cities, enrolled more than 150 students in its first year across partner hospitals in five cities: Chicago, Los Angeles, New York City, Miami, and Detroit.

Tech-enabled, personalized learning experiences (e.g., AI tutors)

Adtalem Global Education Inc. is actively integrating technology to tailor the learning experience. The company launched the First Healthcare AI Credentials Program at Scale in partnership with Google Cloud. This investment in a tech-enabled platform supports the delivery of modern, career-relevant programs.

Long-term engagement with the large alumni community

The relationship extends well beyond graduation, supported by a significant established network. As of June 2025, Adtalem Global Education Inc. had a community of approximately 365,000 alumni. This large base represents essential infrastructure for the healthcare system, with alumni serving in leadership roles at healthcare systems nationwide.

Seamless student experience from enrollment through graduation

The relationship begins with accessible enrollment and is maintained through consistent growth across institutions. Total student enrollment for Adtalem Global Education Inc. surpassed 91,000 students in fiscal year 2025. Chamberlain University reached a record total enrollment of more than 40,500 students in fiscal year 2025. Walden University surpassed 48,000 students in fiscal year 2025.

Here are the key enrollment snapshots from fiscal year 2025 reporting periods:

Institution/Metric	Data Point (FY2025)
Total Student Enrollment (Q4 FY2025)	91,780 students
Chamberlain University Enrollment (FY2025)	More than 40,500 students
Walden University Enrollment (FY2025)	More than 48,500 students
Medical and Veterinary Segment Average Enrollment (FY2025)	Approx. 5,000 students
Total Graduates (FY2025)	29,000 professionals

The company's focus on optimizing the student experience is a core driver of this growth, evidenced by Chamberlain University achieving its tenth consecutive quarter of total enrollment growth as of Q4 FY2025.

Adtalem Global Education Inc. (ATGE) - Canvas Business Model: Channels

You're looking at how Adtalem Global Education Inc. gets its educational products and services-the degrees and professional training-into the hands of students, which is really about scale and access in a tight labor market. The channels are a mix of digital delivery and physical presence, designed to meet the demand for healthcare professionals.

Direct-to-student enrollment is managed across its five core institutions: Chamberlain University, Walden University, American University of the Caribbean School of Medicine, Ross University School of Medicine, and Ross University School of Veterinary Medicine. As of the end of Fiscal Year 2025 (ended June 30, 2025), Adtalem Global Education Inc. was serving over 91,000 students, with total enrollment growing $\text{10.2\%}$ year-over-year in the fourth quarter of that fiscal year. By the first quarter of Fiscal Year 2026 (ended September 30, 2025), total student enrollment stood at 97,359, an $\text{8.0\%}$ increase from the prior year.

Online degree programs, especially through Walden University, form a massive part of this channel strategy. Walden University delivered its ninth straight quarter of enrollment growth as of Q1 FY2026, with enrollment up $\text{13.6\%}$ year-over-year for that period. For context on scale, in Fiscal Year 2025, Walden total enrollment achieved more than 48,500 enrolled students. To give you a sense of specialization within that online channel, as of December 31, 2024, Walden University alone enrolled over 21,000 students in its social and behavioral sciences programs.

Physical campuses are essential for the medical and veterinary programs, though the overall footprint is extensive. Adtalem Global Education Inc. reported operating with 27 physical campuses as of September 23, 2025. Chamberlain University, which handles much of the nursing education, delivers its experience through 23 campuses in addition to its online offerings. The Medical and Veterinary segment, which includes Ross University School of Medicine and Ross University School of Veterinary Medicine, maintained an average enrollment of approximately 5,000 students in Fiscal Year 2025.

Experiential learning is funneled through clinical partnerships and hubs. This is a critical channel for ensuring graduates are practice-ready. For instance, Chamberlain University's Bachelor of Science in Nursing (BSN) Online Option operates 44 clinical hub locations at partner healthcare sites. Furthermore, the Ross University School of Medicine's Return Home program utilizes partner hospitals across five cities-Chicago, Los Angeles, New York City, Miami, and Detroit-enrolling more than 150 students in its first year alone.

Here's a quick look at the enrollment scale across the key segments as of the latest available reports:

Institution/Segment	Key Metric	Data Point (Latest Available)
Total Adtalem Enrollment	Q1 FY2026 Total Enrollment	97,359 students
Walden University	FY2025 Total Enrollment	More than 48,500 enrolled
Chamberlain University	FY2025 Record Total Enrollment	Surpassing 40,500 enrolled
Medical & Veterinary	FY2025 Average Enrollment	Approximately 5,000 students

The financial output from these channels in Fiscal Year 2025 was significant, showing the revenue generated by successfully moving students through these pathways. Total Revenue for Fiscal Year 2025 reached \$1,788.3 million, representing a $\text{12.9\%}$ year-over-year growth. For the most recent quarter reported (Q1 FY2026), revenue was \$462.3 million, up $\text{10.8\%}$ year-over-year.

The digital marketing aspect, while not quantified with a specific budget or conversion rate in the public filings I have access to, is clearly supporting the growth seen in the online-heavy institutions. You can see the momentum in the numbers:

• Walden University achieved its ninth straight quarter of total enrollment growth as of Q1 FY2026.
• Chamberlain University achieved its eleventh straight quarter of total enrollment growth as of Q1 FY2026.
• The Medical & Veterinary segment achieved its third straight enrollment cycle growth as of Q1 FY2026.

Adtalem Global Education Inc. (ATGE) - Canvas Business Model: Customer Segments

Adtalem Global Education Inc. serves a broad spectrum of learners and institutional partners focused on addressing critical workforce shortages in the United States healthcare sector.

The total student base reached 97,359 as of the first quarter of fiscal year 2026, ending September 30, 2025, representing an 8.0% year-over-year increase in total enrollment for that quarter. This overall growth follows a fiscal year 2025 where total student enrollment grew by 10.0% year-over-year.

The primary customer groups are segmented across the company's institutions:

• Aspiring nurses, doctors, and veterinarians, with total students across all institutions at 97,359 as of September 30, 2025.
• Students seeking degrees in social and behavioral sciences, primarily through Walden University, which achieved a 13.6% year-over-year enrollment growth in the first quarter of fiscal year 2026.
• Working adults seeking career advancement or change, evidenced by Walden University posting double-digit growth every quarter in fiscal year 2025.
• First-generation college students and diverse populations are served through Adtalem's commitment to access, which is reflected in the sustained enrollment growth across all segments.
• Healthcare employers seeking a practice-ready workforce, supported by the fact that Adtalem graduated 29,000 professionals in fiscal year 2025, with 90% entering healthcare professions.

Here's a breakdown of the enrollment scale by key segment as of the latest reported periods:

Customer Segment Focus	Institution(s)	Latest Enrollment Figure	Period End Date	Year-over-Year Growth Rate
Aspiring Nurses	Chamberlain University	more than 40,500 students	Fiscal Year 2025	2.2% (Q1 FY26)
Social & Behavioral Sciences / Other Degrees	Walden University	more than 48,500 students	Fiscal Year 2025	13.6% (Q1 FY26)
Aspiring Doctors & Veterinarians	Medical & Veterinary Segment	Approx. 5,300 students	Q1 FY26	2.4% (Q1 FY26)

Specific data points related to the professional pipeline include:

• Chamberlain University's BSN Online Option is available in 36 states and operates 44 clinical hub locations as of the second quarter of fiscal year 2025.
• Over 4,000 students enrolled in Chamberlain's Practice Ready Specialty Focused program as of the third quarter of fiscal year 2025.
• Walden University enrolled over 21,000 students in social and behavioral sciences programs as of December 31, 2024.
• American University of the Caribbean School of Medicine and Ross University School of Medicine achieved a combined 95% first-time residency attainment rate for 2024-2025 graduates.

The Medical and Veterinary segment reported 5,133 students in the third quarter of fiscal year 2025, marking a 1.2% year-over-year enrollment increase for that period. The segment sustained growth with a 2.4% increase in the first quarter of fiscal year 2026. Ross University School of Medicine had its largest September new student start in the last five years in Q1 FY26.

Adtalem Global Education Inc. (ATGE) - Canvas Business Model: Cost Structure

You're looking at the major cost drivers for Adtalem Global Education Inc. as of late 2025. Honestly, the cost structure is dominated by the people and the platforms needed to run a massive, multi-institution healthcare education business. We don't have the granular breakdown for every single line item like compensation versus marketing spend directly in the latest releases, but we can map the scale using the reported operating performance for the full Fiscal Year 2025.

Faculty and staff compensation, which is definitely a major operating expense, is baked into the overall cost of revenue and operating expenses. For the full Fiscal Year 2025, Adtalem Global Education Inc. reported total revenue of $1,788.3 million. The company's operational efficiency is reflected in its profitability metrics.

Technology and platform development investments are crucial for digital innovation, especially given the scale of Chamberlain University (record total enrollment, more than 40,500) and Walden University (surpassing 48,500 students). While specific investment figures aren't itemized here, the company's focus on tech-enabled learning suggests significant ongoing spend.

Marketing and student acquisition costs are necessary to fuel the enrollment growth seen across the segments. For example, Walden University achieved its eighth straight quarter of total enrollment growth in FY2025, and Chamberlain University hit its tenth straight quarter of growth in Q1 FY2026.

General administrative and campus operating expenses, along with faculty and staff costs, contribute to the overall operating income. For the fiscal year ended June 30, 2025, Adtalem Global Education Inc. reported:

Metric	Fiscal Year 2025 Amount
Revenue	$1,788.3 million
Adjusted Operating Income	$370.2 million
Adjusted EBITDA	$459.7 million
GAAP Net Income	$237.1 million

The company manages its capital structure actively. Interest expense on debt is a component of the overall cost structure, though not explicitly detailed here. What we do know is the leverage position. As requested, the net leverage as of June 30, 2025, was reported at 0.8x. The most recent reported leverage, as of September 30, 2025, was even lower at 0.6x.

Here are the key leverage and capital allocation data points:

• Net Leverage as of June 30, 2025: 0.8x
• Net Leverage as of September 30, 2025: 0.6x
• Term Loan B Repayment on Jan. 17, 2025: $100 million
• Term Loan B Repayment on Oct. 29, 2025: $50 million
• Share Repurchases completed in FY2025: $211 million
• New Share Repurchase Authorization (through May 2028): $150 million

The difference between Adjusted EBITDA and Adjusted Operating Income gives you a proxy for the depreciation and amortization costs, which are significant in an asset-heavy education model involving physical campuses and technology infrastructure. For FY2025, this difference was approximately $89.5 million ($459.7 million Adjusted EBITDA minus $370.2 million Adjusted Operating Income).

Adtalem Global Education Inc. (ATGE) - Canvas Business Model: Revenue Streams

The core of Adtalem Global Education Inc.'s revenue generation comes from tuition and fees from student enrollment, which is the primary source across its specialized healthcare education segments. You saw this clearly in the top-line results for the most recently completed fiscal year.

For the Fiscal Year 2025, which ended June 30, 2025, Adtalem Global Education Inc. reported total revenue reached $1,788.3 million. This revenue is segmented across its major operating units: Chamberlain University, Walden University, and the Medical/Veterinary schools. To give you a concrete idea of the mix, here is the revenue breakdown from the third quarter of that same fiscal year, which shows the relative weight of each segment:

Segment	Revenue (Q3 FY2025)	Approximate % of Q3 Revenue
Chamberlain University	$192.6 million	41.3%
Walden University	$178.4 million	38.3%
Medical and Veterinary	$95.0 million	20.4%

As the table illustrates, Chamberlain University is the largest segment contributor to revenue, driven by strong enrollment in its nursing programs. For instance, in that third quarter, Chamberlain's revenue rose by 13.1% year-over-year, while Walden saw an even higher growth rate of 18.5% in its segment revenue for the same period. The Medical and Veterinary segment also contributed, posting a 3.6% revenue increase in Q3 FY2025.

Beyond standard tuition, Adtalem Global Education Inc. captures additional revenue through program-specific fees for certifications and specialized training. This is a key area of focus, especially at Chamberlain University, which has been expanding offerings like its Practice Ready Specialty Focused program, where over 4,000 students had enrolled by the third quarter of fiscal year 2025. These fees support the delivery of career-relevant, specialized education.

Here are some other key financial figures from the Fiscal Year 2025 performance that underpin these revenue streams:

• Fiscal Year 2025 total revenue growth was 12.9% year-over-year.
• Adjusted Earnings Per Share (EPS) for the full fiscal year 2025 was $6.67, representing a 33.1% increase year-over-year.
• Adjusted EBITDA for Fiscal Year 2025 reached $459.7 million.
• Total student enrollment across the enterprise was approximately 91,780 as of the end of the fourth quarter of fiscal year 2025.