Adtalem Global Education Inc. (ATGE): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama dinámico de la educación global, Adtalem Global Education Inc. (ATGE) emerge como una potencia transformadora, cerrando estratégicamente la brecha entre las aspiraciones profesionales y las experiencias de aprendizaje de vanguardia. Al crear meticulosamente un modelo de negocio integral que abarca la atención médica, la capacitación profesional y el desarrollo de la fuerza laboral, ATGE se ha posicionado como un catalizador fundamental para el avance profesional, ofreciendo vías educativas flexibles e alineadas en la industria que capacitan a los profesionales y estudiantes para desbloquear su potencial total en todo el potencial en un mercado global en constante evolución.

Adtalem Global Education Inc. (ATGE) - Modelo de negocios: asociaciones clave

Alianzas estratégicas con instituciones de atención médica para programas de capacitación médica

Adtalem mantiene asociaciones estratégicas con múltiples instituciones de capacitación en salud:

Institución asociada	Enfoque de colaboración	Año establecido
Facultad de Medicina de la Universidad Americana del Caribe	Programa de educación médica	2013
Facultad de Medicina de la Universidad de Ross	Programas de grado médico	2013
Universidad de San Jorge	Capacitación médica y veterinaria	2018

Colaboración con organismos de certificación profesional

Adtalem se asocia con múltiples organizaciones de certificación profesional:

• Junta Nacional de Examinadores Médicos (NBME)
• Asociación Médica Veterinaria Americana (AVMA)
• Comisión educativa para graduados médicos extranjeros (ECFMG)

Asociaciones con proveedores de tecnología de aprendizaje en línea

Socio tecnológico	Servicio proporcionado	Año de implementación
Lienzo de instrucciones	Sistema de gestión de aprendizaje	2019
Comunicaciones de video zoom	Plataforma de aula virtual	2020

Acuerdos con empleadores para el desarrollo de la fuerza laboral

Las asociaciones clave del empleador incluyen:

• Red de sistemas de salud
• Hospital Corporation of America (HCA)
• Principales proveedores de atención médica regional

Relaciones con agencias de acreditación

Adtalem mantiene acreditaciones con:

• Comisión de aprendizaje superior
• Consejo de acreditación para escuelas y programas de negocios (ACBSP)
• Consejo de Educación para la Salud Pública (CEPH)

Adtalem Global Education Inc. (ATGE) - Modelo de negocios: actividades clave

Entregando programas educativos en línea y en persona

Adtalem opera a través de múltiples segmentos educativos con métricas específicas de entrega de programas:

Segmento	Tipos de programas	Inscripción anual
Médico y veterinario	Programas médicos en línea/en el campus	7.800 estudiantes
Educación profesional	Programas de certificación y grado	15,300 estudiantes
Internacional	Servicios educativos globales	5.200 estudiantes

Desarrollo del plan de estudios para capacitación profesional

El desarrollo curricular se centra en:

• Educación profesional de la salud
• Programas de certificación de tecnología y negocios
• Capacitación profesional alineada por cumplimiento

Reclutamiento y capacitación de miembros de la facultad

Categoría de facultad	Facultad Total	Calificación promedio
Educadores a tiempo completo	1.200 profesionales	Doctorado/doctorado profesional
Instructores adjuntos	2.800 profesionales	Profesionales expertos de la industria

Servicios educativos de marketing para estudiantes potenciales

Gasto de marketing: $ 42.3 millones anuales

• Canales de marketing digital
• Estrategias de reclutamiento directas
• Marketing de asociación de la industria

Mantenimiento de la infraestructura de tecnología educativa

Inversión tecnológica	Gasto anual	Áreas de enfoque clave
Sistemas de gestión de aprendizaje	$ 18.7 millones	Desarrollo de la plataforma en línea
Ciberseguridad	$ 6.2 millones	Protección de datos
Herramientas de aprendizaje digital	$ 12.5 millones	Tecnología educativa interactiva

Adtalem Global Education Inc. (ATGE) - Modelo de negocios: recursos clave

Plataformas de aprendizaje digital y tecnología educativa

Adtalem Global Education opera múltiples plataformas de aprendizaje digital en sus segmentos educativos:

Plataforma	Usuarios	Inversión tecnológica
Universidad de Chamberlain en línea	12,500 estudiantes en línea activos	$ 24.3 millones de inversiones en infraestructura tecnológica en 2023
Aprendizaje digital de la Universidad de Ross	3.800 estudiantes médicos y veterinarios	Presupuesto de desarrollo de la plataforma digital de $ 17.6 millones

Instructores académicos y profesionales experimentados

Instructor de composición de la fuerza laboral:

• Facultad total: 2,345 en todas las instituciones
• Titulares de doctorado/terminal: 68%
• Experiencia docente promedio: 12.4 años

Extensa red de campus educativos

Institución	Campus físicos	Extensión geográfica
Universidad de Chamberlain	24 campus físicos	15 estados de EE. UU.
Universidad de Ross	3 campus primarios	Lugares de Caribe y EE. UU.

Fuerte reputación de marca en educación profesional

Métricas de marca:

• Puntuación de reconocimiento de marca: 82/100
• Tasa de satisfacción del estudiante: 87%
• Red de asociación del empleador: más de 1,200 organizaciones de atención médica y profesionales

Servicios integrales de apoyo para estudiantes

Infraestructura de servicios de soporte:

• Centro de apoyo para estudiantes en línea 24/7
• Equipo de colocación profesional: 185 profesionales dedicados
• Presupuesto anual de apoyo profesional: $ 12.4 millones

Adtalem Global Education Inc. (ATGE) - Modelo de negocio: propuestas de valor

Programas de educación profesional centrada en la carrera

Adtalem Global Education ofrece programas de educación especializada en múltiples sectores profesionales:

Sector	Tipos de programas	Inscripción anual
Cuidado de la salud	Médico, de enfermería, veterinario	32,500 estudiantes
Negocio	MBA, Contabilidad, Finanzas	24,700 estudiantes
Tecnología	Sistemas de información, ciberseguridad	15,600 estudiantes

Opciones de aprendizaje flexibles

Desglose de modalidades de aprendizaje:

• Programas en línea: 68% de la inscripción total
• Programas híbridos: 22% de la inscripción total
• Programas en el campus: 10% de la inscripción total

Plan de estudios alineado en la industria

Métricas de desarrollo del plan de estudios:

Aspecto curricular	Detalles	Frecuencia
Consultas de expertos de la industria	Revisión del plan de estudios	Trimestral
Integración de comentarios del empleador	Ajustes de programa	By-anualmente

Programas de certificación y grado

Distribución del programa:

• Títulos asociados: 22%
• Grados de licenciatura: 45%
• Grados de maestría: 28%
• Certificaciones profesionales: 5%

Oportunidades de desarrollo profesional

Estadísticas de desarrollo profesional:

Tipo de desarrollo	Participantes anuales	Costo promedio
Educación continua	17,300	$1,850
Talleres profesionales	8,900	$750
Coaching profesional	6,500	$450

Adtalem Global Education Inc. (ATGE) - Modelo de negocios: relaciones con los clientes

Servicios de apoyo para estudiantes personalizados

Adtalem Global Education ofrece servicios dedicados de apoyo estudiantil en sus instituciones educativas:

Servicio de apoyo	Número de estudiantes atendidos	Inversión anual
Asesoramiento académico	95,342 estudiantes	$ 4.7 millones
Tutoría en línea	62,184 estudiantes	$ 2.3 millones
Apoyo técnico	108,756 estudiantes	$ 3.9 millones

Plataformas de redes de ex alumnos

Adtalem mantiene estrategias de compromiso de alumnos sólidos:

• Total de la red de ex alumnos registrados: 247,600 miembros
• Usuarios de la plataforma de redes digitales: 186,450
• Participantes anuales del evento de ex alumnos: 24,760

Asesoramiento profesional y asistencia laboral

Servicio profesional	Número de estudiantes asistidos	Tasa de colocación
Desarrollo de reanudación	53,421 estudiantes	87.3%
Preparación de la entrevista	47,893 estudiantes	82.6%
Colocación de trabajo directo	39,276 estudiantes	76.5%

Comunicación continua a través de canales digitales

Métricas de comunicación digital para Adtalem:

• Frecuencia de comunicación por correo electrónico: semanal
• Seguidores de redes sociales: 412,350
• Usuarios de aplicaciones móviles: 156,780
• Tiempo promedio de participación digital: 17.4 minutos por sesión

Learning continuo y recursos de calcetización

Recurso de aprendizaje	Número de usuarios	Costo anual
Programas de certificación en línea	34,562 participantes	$ 6.2 millones
Talleres de desarrollo profesional	28,743 participantes	$ 4.8 millones
Serie de seminarios web	52,189 asistentes	$ 2.1 millones

Adtalem Global Education Inc. (ATGE) - Modelo de negocios: canales

Plataformas de aprendizaje en línea

A partir del segundo trimestre de 2023, Adtalem opera 6 plataformas de aprendizaje en línea primarias a través de sus divisiones educativas.

Plataforma	Número de programas en línea	Inscripción en línea anual
Universidad de Chamberlain en línea	32 programas	12,500 estudiantes
Universidad Americana del Caribe en línea	15 programas	3.200 estudiantes
Ross Medical Education Online	22 programas	5.800 estudiantes

Campus de educación física

Adtalem mantiene 47 ubicaciones físicas del campus en múltiples segmentos educativos.

• Campus de educación sobre la salud: 22
• Campus médico y veterinario: 15
• Campus de educación profesional: 10

Marketing digital y reclutamiento

Gastos de marketing digital para 2023: $ 18.3 millones

Canal digital	Asignación de presupuesto de marketing	Tasa de conversión
Ads de Google	$ 6.2 millones	3.7%
Publicidad en las redes sociales	$ 4.5 millones	2.9%
Anuncios digitales programáticos	$ 3.6 millones	2.5%

Consultores de educación y agentes de reclutamiento

Adtalem colabora con 127 socios de reclutamiento externos a nivel mundial.

• Agentes de reclutamiento internacional: 82
• Socios de reclutamiento doméstico: 45

Redes sociales y canales de comunicación digital

Métricas de compromiso de las redes sociales para 2023:

Plataforma	Seguidores/suscriptores	Tasa de compromiso
LinkedIn	85,400	4.2%
Facebook	62,300	3.7%
Instagram	41,200	2.9%

Adtalem Global Education Inc. (ATGE) - Modelo de negocios: segmentos de clientes

Profesionales que trabajan en busca de avance profesional

A partir de 2024, Adtalem se dirige a 1,245,000 profesionales que trabajan en busca de mejora profesional a través de programas educativos en línea e híbridos.

Característica de segmento	Datos estadísticos
Edad promedio	28-42 años
Rango de ingresos anuales	$65,000 - $110,000
Crecimiento proyectado	7.3% año tras año

Graduados recientes de secundaria

Adtalem atiende a 312,500 graduados recientes de secundaria en varios programas educativos.

• Inscripción de pregrado: 187,900
• Tasa de finalización promedio del programa: 62.4%
• Estudiantes universitarios de primera generación: 41.6%

Profesionales de la industria de la salud

El segmento profesional de la salud representa a 453,000 estudiantes en 2024.

Categoría profesional	Número de estudiantes
Enfermería	276,300
Tecnología médica	87,600
Administración de la salud	89,100

Estudiantes internacionales

El segmento internacional de estudiantes comprende 124,700 estudiantes en los campus globales.

• Los principales países de origen: India, China, Brasil
• Inscripción internacional en línea: 42.3%
• Ingresos de matrícula promedio por estudiante internacional: $ 22,500

Clientes de capacitación corporativa y desarrollo de la fuerza laboral

El segmento corporativo genera $ 287.6 millones en ingresos anuales de 1,200 asociaciones corporativas.

Tipo de asociación corporativa	Número de asociaciones
Fortune 500 Companies	312
Empresas de tamaño mediano	628
Capacitación de pequeñas empresas	260

Adtalem Global Education Inc. (ATGE) - Modelo de negocio: Estructura de costos

Compensación de la facultad y el personal

Para el año fiscal 2023, Adtalem Global Education reportó costos totales de personal de $ 479.7 millones. El desglose de la compensación incluye:

Categoría de empleado	Costo anual
Facultad de tiempo completo	$ 267.3 millones
Personal administrativo	$ 152.4 millones
Instructores a tiempo parcial	$ 60.0 millones

Mantenimiento de tecnología e infraestructura

Los gastos de infraestructura tecnológica para 2023 totalizaron $ 87.5 millones, lo que incluye:

• Plataformas de aprendizaje digital: $ 42.3 millones
• Red y ciberseguridad: $ 22.6 millones
• Actualizaciones de hardware y software: $ 22.6 millones

Gastos de marketing y reclutamiento de estudiantes

El gasto total de marketing para el año fiscal 2023 fue de $ 156.2 millones, con la siguiente asignación:

Canal de marketing	Gastos
Marketing digital	$ 68.7 millones
Publicidad tradicional	$ 47.3 millones
Eventos de reclutamiento	$ 40.2 millones

Desarrollo y acreditación del plan de estudios

Las inversiones en desarrollo y acreditación del plan de estudios para 2023 ascendieron a $ 63.9 millones:

• Diseño y actualizaciones del plan de estudios: $ 38.6 millones
• Procesos de acreditación: $ 15.3 millones
• Desarrollo de contenido educativo: $ 10.0 millones

Mejora de la investigación y el programa educativo

Los gastos de investigación y mejora del programa para 2023 fueron de $ 52.4 millones, distribuidos de la siguiente manera:

Categoría de investigación	Inversión
Investigación académica	$ 27.6 millones
Innovación de programas	$ 16.8 millones
Tecnología educativa	$ 8.0 millones

Adtalem Global Education Inc. (ATGE) - Modelo de negocios: flujos de ingresos

Tarifas de matrícula de programas educativos

Para el año fiscal 2023, Adtalem Global Education reportó ingresos netos totales de $ 1.42 mil millones. El desglose de las fuentes de ingresos es el siguiente:

Segmento	Ingresos ($ M)	Porcentaje
Médico y veterinario	$651.5	45.9%
Educación profesional	$510.2	35.9%
Negocio y tecnología	$258.3	18.2%

Ingresos del curso de certificación profesional

Los ingresos por certificación profesional contribuyeron aproximadamente $ 215.6 millones en 2023, principalmente de:

• Cursos de preparación del examen de certificación
• Programas de capacitación en habilidades profesionales
• Créditos de educación continua

Contratos de capacitación corporativa y desarrollo de la fuerza laboral

Los contratos de capacitación corporativa generaron $ 87.4 millones en ingresos para 2023, con áreas de enfoque clave que incluyen:

• Desarrollo de la fuerza laboral de la salud
• Capacitación en habilidades tecnológicas
• Programas de cumplimiento profesional

Suscripciones de curso y programa en línea

Las plataformas de aprendizaje digital generaron $ 124.7 millones en ingresos por suscripción en 2023, lo que representa un crecimiento del 12.3% del año anterior.

Red de ex alumnos y servicios de educación continua

Los ex alumnos y los servicios de educación continua contribuyeron con $ 53.2 millones en ingresos recurrentes para 2023, con aproximadamente 42,000 alumnos activos participantes.

Flujo de ingresos	2023 Ingresos ($ M)	Crecimiento año tras año
Ingresos netos totales	$1,420.0	5.7%
Suscripciones en línea	$124.7	12.3%
Certificaciones profesionales	$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.