Grand Canyon Education, Inc. (LOPE): Modelo de negócios Canvas [Jan-2025 Atualizado]

No cenário dinâmico do ensino superior, a Grand Canyon Education, Inc. (LOPE) surge como uma força transformadora, redefinindo como profissionais e alunos acessam o aprendizado por meio de um modelo de negócios inovador. Ao misturar perfeitamente a tecnologia, caminhos educacionais flexíveis e currículo alinhado à carreira, essa instituição pioneira criou uma abordagem abrangente que atende às necessidades em evolução dos alunos modernos. Desde adultos que trabalham em busca de avanço aos estudantes tradicionais que desejam experiências educacionais personalizadas, o modelo de negócios estratégico da Grand Canyon Education representa um plano para o sucesso no mercado de educação on-line e no campus competitivo.

Grand Canyon Education, Inc. (LOPE) - Modelo de negócios: Parcerias -chave

Provedores de gerenciamento de programas on -line (OPM)

O Grand Canyon Education faz parceria com os seguintes fornecedores de OPM:

Provedor	Detalhes da parceria	Ano estabelecido
Noodle Partners	Expansão do programa de graduação online	2018
Parcerias acadêmicas	Desenvolvimento de programas on -line	2016

Fornecedores de sistemas de gerenciamento de tecnologia e aprendizagem

As principais parcerias tecnológicas incluem:

• Instruture Canvas LMS
• Blackboard Aprenda
• Planejamento de Recursos da Enterprise Elcian Banner

Credenciamento e órgãos regulatórios

Organização	Tipo de acreditação	Ano de certificação
Comissão de ensino superior	Acreditação institucional	2022
Conselho Estadual do Arizona para educação pós -secundária privada	Autorização do estado	2023

Treinamento corporativo e parceiros de desenvolvimento da força de trabalho

Parcerias corporativas estratégicas incluem:

• Saúde da dignidade
• Banner Health
• Wells Fargo
• Programa de escolha de carreira da Amazon

Receita total de parceria para 2023: US $ 187,4 milhões

Número de parcerias ativas: 42

Grand Canyon Education, Inc. (LOPE) - Modelo de negócios: Atividades -chave

Desenvolvimento de programa de graduação online e no campus

A Grand Canyon Education oferece mais de 300 programas acadêmicos nos níveis de graduação, pós -graduação e doutorado a partir de 2024. A inscrição total atingiu 132.214 estudantes em 2022.

Tipo de programa	Número de programas	Inscrição
Programas de graduação	200+	85.640 alunos
Programas de pós -graduação	80+	35.214 alunos
Programas de doutorado	20+	11.360 alunos

Inovação em tecnologia educacional

Investimento de tecnologia anual: US $ 22,3 milhões em 2022.

• Atualizações do Sistema de Gerenciamento de Aprendizagem (LMS)
• Tecnologias de sala de aula virtuais
• Plataformas de aprendizado móvel
• Ferramentas de suporte do aluno movidas a IA

Serviços de recrutamento e matrícula de estudantes

Métricas de recrutamento	2022 dados
Total de consultas	187,500
Taxa de conversão	36.5%
Gastos com marketing	US $ 45,6 milhões

Suporte acadêmico e iniciativas de sucesso do aluno

Investimento total em serviços de apoio a estudantes: US $ 18,7 milhões em 2022.

• Serviços de tutoria on -line 24/7
• Programas de aconselhamento de carreira
• Aconselhamento acadêmico
• Recursos de apoio à saúde mental

Grand Canyon Education, Inc. (LOPE) - Modelo de negócios: Recursos -chave

Plataforma de gerenciamento de aprendizado avançado

A partir de 2024, a Grand Canyon Education utiliza uma sofisticada infraestrutura de aprendizado digital com as seguintes especificações:

Métrica da plataforma	Dados quantitativos
Ofertas totais de curso online	500+ cursos únicos
Usuários anuais da plataforma	85.000 estudantes ativos
Investimento em tecnologia da plataforma	US $ 12,7 milhões anualmente

Professores experientes e funcionários acadêmicos

Composição e qualificações de pessoal:

• Total de membros do corpo docente: 1.250
• Porcentagem com doutorado: 68%
• Experiência média de ensino: 14,3 anos
• Proporção do corpo docente / aluno: 1:25

Infraestrutura de aprendizado digital abrangente

Componente de infraestrutura	Especificação
Capacidade de armazenamento em nuvem	750 terabytes
Investimento anual de segurança de TI	US $ 3,4 milhões
Tempo de atividade da rede	99.97%

Forte reputação da marca na educação online

Métricas de desempenho da marca:

• Valor da marca: US $ 287 milhões
• Participação de mercado no ensino superior online: 4,2%
• Taxa de satisfação do aluno: 91%
• Credenciamento: Comissão de Ensino Superior

Grand Canyon Education, Inc. (LOPE) - Modelo de negócios: proposições de valor

Opções de ensino superior flexíveis e acessíveis

A Grand Canyon Education oferece programas de graduação on-line e no campus com as seguintes estatísticas-chave:

Tipo de programa	Número de programas	Modo de entrega
Graduação on -line	100+	100% online
Pós -graduação on -line	50+	Híbrido/totalmente online
Programas no campus	30+	Campus tradicional

Programas de graduação acessíveis

Detalhes das mensalidades e preços:

Nível de grau	TAXA Média Anual	Comparação de custos
Graduação online	$10,920	20% abaixo da média nacional
Graduado online	$15,600	15% abaixo da média nacional

Currículo alinhado pela carreira

Áreas de foco curricular:

• Administração de empresas
• Gerenciamento de assistência médica
• Liderança educacional
• Gerenciamento de tecnologia
• Aconselhamento e psicologia

Serviços personalizados de apoio ao aluno

Apoiar os serviços de suporte:

Categoria de serviço	Ofertas de apoio
Aconselhamento acadêmico	1: 1 orientação personalizada
Serviços de carreira	Assistência à colocação de empregos
Ajuda financeira	Programas de bolsas de estudo
Suporte técnico	Assistência on -line 24/7

Total de matrícula de estudantes (2023): 75.000 mais de estudantes

Grand Canyon Education, Inc. (Lope) - Modelo de Negócios: Relacionamentos do Cliente

Equipes de apoio a estudantes dedicados

A Grand Canyon Education mantém uma infraestrutura robusta de apoio ao aluno com aproximadamente 1.200 membros da equipe de suporte dedicados a partir de 2023. A relação média de aluno-suporte é 35: 1.

Categoria de equipe de suporte	Número de funcionários	Tempo médio de resposta
Suporte acadêmico	450	12 horas
Suporte técnico	250	4 horas
Aconselhamento de ajuda financeira	180	24 horas
Serviços de carreira	120	48 horas

Portal de estudantes on -line abrangente

O portal online atende 87.000 estudantes ativos com os seguintes recursos:

• Rastreamento de grau em tempo real
• Sistema de Registro do Curso
• Gerenciamento de contas financeiras
• Acesso ao recurso digital 24/7

Aconselhamento acadêmico em andamento

A Grand Canyon Education fornece aconselhamento acadêmico personalizado com as seguintes métricas:

Aconselhando Métrica	Dados quantitativos
Total de consultores acadêmicos	320
Razão média de aluno-consultor	75:1
Sessões de aconselhamento programadas anualmente	42,500

Rede de ex -alunos e serviços de carreira

A rede de ex -alunos abrange 115.000 graduados registrados com a oferta de serviços de carreira:

• Assistência à colocação de empregos
• Plataformas de redes profissionais
• Oficinas de desenvolvimento de carreira
• Programas de parceria do empregador

Métrica de Serviços de Carreira	2023 dados
Taxa de colocação de empregos	68%
Conexões de parceria do empregador	1,250
Participantes do workshop de carreira	22,300

Grand Canyon Education, Inc. (Lope) - Modelo de Negócios: Canais

Plataformas de inscrição on -line

A plataforma de inscrição on -line da Grand Canyon University processou 27.862 novos aplicativos de estudantes em 2023. A plataforma digital gerou US $ 412,3 milhões em receita de programa on -line durante o ano fiscal.

Métrica da plataforma	2023 dados
Total de aplicativos online	27,862
Receita do programa online	US $ 412,3 milhões
Matrícula média de estudantes online	19,453

Vendas diretas e marketing

A Grand Canyon Education investiu US $ 24,7 milhões em esforços diretos de vendas e marketing em 2023. A equipe de vendas direta consistia em 187 conselheiros de inscrição dedicados.

• Tamanho da equipe de vendas direta: 187 conselheiros de inscrição
• Investimento de marketing: US $ 24,7 milhões
• Taxa de conversão da investigação para a inscrição: 22,3%

Campanhas de marketing digital

As despesas de marketing digital atingiram US $ 16,5 milhões em 2023. A publicidade on -line gerou 43.216 consultas em potencial para estudantes.

Métrica de marketing digital	2023 dados
Gastos de marketing digital total	US $ 16,5 milhões
Perspectivas em potencial	43,216
Taxa de engajamento de mídia social	4.7%

Eventos de recrutamento educacional

A Grand Canyon Education conduziu 276 eventos de recrutamento virtual e pessoal em 2023, atraindo 8.943 estudantes em potencial.

• Total de eventos de recrutamento: 276
• Alunos em potencial envolvidos: 8.943
• Tipos de eventos: webinars virtuais, visitas ao campus, feiras de carreira

Referências de parceria estratégica

Parcerias com 87 organizações corporativas e comunitárias geraram 3.612 referências de estudantes em 2023. Essas parcerias contribuíram com US $ 45,6 milhões em receita.

Métrica de Parceria	2023 dados
Total de parcerias estratégicas	87
Referências de estudantes	3,612
Receita de parceria	US $ 45,6 milhões

Grand Canyon Education, Inc. (LOPE) - Modelo de negócios: segmentos de clientes

Adultos que procuram ensino superior

Em 2023, a Grand Canyon University atende 108.124 estudantes no total, com aproximadamente 74% matriculados em programas on -line.

Faixa etária	Percentagem	Contagem de inscrições
25-34 anos	42%	45.412 alunos
35-44 anos	28%	30.275 alunos

Estudantes de graduação tradicionais

Em 2023, a Grand Canyon University relatou 16.500 estudantes de graduação no campus.

• Média de graduação: US $ 16.800 por ano
• Taxa de retenção do primeiro ano: 67%
• Tamanho médio da aula: 18 alunos

Buscadores de desenvolvimento profissional

Tipo de programa	Inscrição anual	Custo médio
Certificados de pós -graduação	4.250 alunos	$6,500
Educação continuada profissional	3.800 alunos	$4,200

Participantes do treinamento corporativo

A Grand Canyon University gera aproximadamente US $ 42 milhões anualmente a partir de parcerias de treinamento corporativo.

• Número de parcerias corporativas: 87
• Custo médio de treinamento corporativo: US $ 125.000
• Indústrias servidas: saúde, tecnologia, educação

Estudantes internacionais

Inscrição de estudantes internacionais: 2.350 estudantes em 2023.

Região	Porcentagem de estudantes internacionais	Total de alunos
Ásia	45%	1,057
Médio Oriente	25%	588
Europa	15%	353

Grand Canyon Education, Inc. (Lope) - Modelo de negócios: estrutura de custos

Investimentos de infraestrutura de tecnologia

No ano fiscal de 2022, a Grand Canyon Education investiu US $ 45,2 milhões em infraestrutura de tecnologia e plataformas de aprendizado digital.

Categoria de investimento em tecnologia	Despesas anuais
Sistema de gerenciamento de aprendizagem	US $ 12,6 milhões
Infraestrutura de computação em nuvem	US $ 8,9 milhões
Sistemas de segurança cibernética	US $ 6,3 milhões
Ferramentas de desenvolvimento de cursos digitais	US $ 17,4 milhões

Faculdade e compensação da equipe

As despesas totais de pessoal para 2022 foram de US $ 187,3 milhões.

• Salário da faculdade em tempo integral Média: US $ 84.500
• Compensação adjunta do corpo docente: US $ 1.250 por curso
• Salário médio da equipe administrativa: US $ 72.300

Despesas de marketing e aquisição de estudantes

As despesas de marketing em 2022 totalizaram US $ 63,7 milhões.

Canal de marketing	Gastos
Marketing digital	US $ 37,2 milhões
Publicidade tradicional da mídia	US $ 15,5 milhões
Eventos de recrutamento	US $ 11 milhões

Desenvolvimento de conteúdo e design de currículo

Os custos de desenvolvimento curricular em 2022 foram de US $ 22,6 milhões.

• Desenvolvimento do curso on -line: US $ 15,3 milhões
• Pesquisa e design curriculares: US $ 4,8 milhões
• Licenciamento de conteúdo externo: US $ 2,5 milhões

Manutenção de conformidade e credenciamento

As despesas relacionadas à conformidade em 2022 atingiram US $ 18,4 milhões.

Categoria de conformidade	Custo anual
Taxas de acreditação	US $ 6,7 milhões
Conformidade regulatória	US $ 7,9 milhões
Serviços legais e de auditoria	US $ 3,8 milhões

Grand Canyon Education, Inc. (LOPE) - Modelo de negócios: fluxos de receita

Mensalidades e taxas de programas online

A Grand Canyon Education registrou receita de ensino on -line de US $ 387,8 milhões no ano fiscal de 2022. O segmento de educação on -line representa uma parcela significativa dos fluxos totais de receita da empresa.

Categoria de programa on -line	Receita anual
Programas on -line de graduação	US $ 214,5 milhões
Programas on -line de pós -graduação	US $ 173,3 milhões

Receita do programa de graduação no campus

A receita do programa de graduação no campus totalizou US $ 98,6 milhões no ano fiscal de 2022, representando um fluxo de receita menor, mas importante, para a empresa.

Contratos de treinamento corporativo

Os serviços de treinamento corporativo e desenvolvimento profissional geraram US $ 42,3 milhões em receita para a Grand Canyon Education em 2022.

• Programas de desenvolvimento profissional corporativo
• Soluções de treinamento personalizadas
• Parcerias de aprendizagem corporativa

Serviços de Tecnologia Educacional

A tecnologia educacional e a receita de serviços atingiram US $ 56,7 milhões no ano fiscal de 2022.

Categoria de Serviço de Tecnologia	Receita anual
Sistemas de gerenciamento de aprendizagem	US $ 23,4 milhões
Soluções de software educacional	US $ 33,3 milhões

Serviços auxiliares de apoio educacional

Os serviços auxiliares contribuíram com US $ 27,5 milhões para a receita total da empresa em 2022.

• Serviços de apoio ao aluno
• Centros de Recursos Acadêmicos
• Programas de aconselhamento de carreira

Fluxos de receita total para a Grand Canyon Education em 2022: US $ 612,9 milhões

Grand Canyon Education, Inc. (LOPE) - Canvas Business Model: Value Propositions

You're looking at the value Grand Canyon Education, Inc. (LOPE) delivers to its university partners through its service model, which is all about scale and efficiency in the digital age. The core proposition is providing the infrastructure so partners can grow without taking on the massive upfront and ongoing operational risk themselves.

Scalable, efficient online and hybrid program delivery for partners is demonstrated by consistent enrollment expansion across platforms. Grand Canyon Education, Inc. (LOPE) reported that GCU online enrollment growth was 9.6% in the third quarter of 2025, and hybrid enrollment growth, excluding closed sites, was 19.3% in the same period. Total partner enrollments reached 138,073 students as of September 30, 2025, marking a 7.9% year-over-year increase. The company is managing this scale with capital expenditures (CapEx) in the third quarter of 2025 of approximately $9.7 million, which represented 3.7% of service revenue for that quarter.

Metric	Q1 2025 Growth	Q2 2025 Growth	Q3 2025 Growth
GCU Online Enrollment Growth (YoY)	7.9%	10.1%	9.6%
Hybrid Enrollment Growth (Excl. Closed Sites) (YoY)	16.5%	15.4%	19.3%

The model supports rapid expansion of high-demand programs, especially in healthcare. Grand Canyon Education, Inc. (LOPE) stays focused on labor market opportunities, continuing to roll out at least 20 new programs per year for its university partners. For instance, the Accelerated Bachelor of Science in Nursing (ABSN) program saw 46 sites operating as of the first quarter of 2025. The focus on quality in these programs is clear: the first-time pass rate on the NCLEX examination for students who successfully enter the ABSN programs is approximately 90%. Since implementing prerequisite courses for these programs, Grand Canyon Education, Inc. (LOPE) has enrolled 19,410 students.

A key value is the reduced operational and capital expenditure burden for partner universities. The service model includes contract modifications where Grand Canyon Education, Inc. (LOPE) takes on certain faculty cost reimbursements in exchange for a reduced revenue share percentage, effectively lowering the partner's operational expenses. Furthermore, the company's own CapEx for new off-campus classroom and laboratory sites in the second quarter of 2025 was $8.6 million, or 3.5% of service revenue, which is a cost the partner avoids directly funding.

Partners gain access to a proven enrollment management system. This is evidenced by Grand Canyon Education, Inc. (LOPE)'s work with employers to address workforce shortages, partnering with over 5,500 employers directly as of the second quarter of 2025. This system drives future business, as registrations for the fall 2026 school year were reported as ahead of last year following marketing strategy changes in 2025.

Finally, the model provides students with low average tuition rates for students at partner institutions, addressing the challenge of rising debt. Grand Canyon University's projected four-year degree price for tuition and fees in 2024-25 was $71,400, which is substantially less than the average private university cost of $166,160. For graduate programs in 2024-25, the total for tuition and fees was $10,015. Specific online rates show this focus on affordability, such as the RN to BSN Programs costing $340 per credit hour. Overall, Grand Canyon Education, Inc. (LOPE) noted that while a few online programs saw increases of approximately 1% per year, overall online net tuition rates at Grand Canyon University have gone down.

Finance: draft 13-week cash view by Friday.

Grand Canyon Education, Inc. (LOPE) - Canvas Business Model: Customer Relationships

You're looking at how Grand Canyon Education, Inc. (GCE) manages its relationships with the institutions it serves-the core of its business. This isn't just about selling a service; it's about deep, embedded operational partnership. The relationship model is built on long-term commitment and shared success metrics, which is why you see those dedicated, long-term, comprehensive service contracts with partners.

The foundation of this relationship is scale and integration. GCE currently provides services to 20 university partners, with Grand Canyon University (GCU) being the most significant. The success of these partnerships is directly reflected in the growth figures. The focus on partner enrollment growth is paramount, and it paid off in the third quarter of 2025, showing a 7.9% year-over-year increase in partner enrollments to reach 138,073 students as of September 30, 2025.

Here's a quick look at how the different enrollment segments, which are the direct result of these partner relationships, performed in Q3 2025:

• GCU online enrollment growth: 9.6% year-over-year.
• Hybrid campus enrollment growth (excluding closed sites): 19.3% year-over-year.
• University partner enrollments at off-campus sites: 17.4% increase year-over-year.

The nature of the service contracts is clearly comprehensive, as evidenced by operational adjustments. For instance, contract modifications for some university partners involved GCE reducing its revenue share percentage in exchange for no longer reimbursing the partner for certain faculty costs. That level of financial and operational integration suggests a relationship that goes well beyond a simple vendor agreement; it's a shared risk and reward structure.

When you think about high-touch student counseling and support services on behalf of partners, you see GCE embedding its operational expertise directly into the student lifecycle. While I don't have a specific number for counseling hours delivered, the commitment to workforce relevance implies significant, tailored student support. This is reinforced by the company's work with employers to align education with job market needs. GCE is working with over 5,500 employers directly to address workforce shortages.

This commitment to workforce alignment drives continuous program innovation. GCE continues to roll out 20-plus new programs on an annual basis. This isn't just abstract curriculum development; it's concrete action based on labor market demand. For example, the GCU's Manufacturing CNC Machinist Pathway graduated 33 students in the 2024-2025 fiscal year. Plus, GCE is planning for the future, with a construction general pathway program set to start in fall 2025.

Direct marketing and communication to prospective students is also a key relationship lever, especially for the GCU traditional campus. You saw changes made to the marketing and recruitment strategy for GCU's traditional campus that accelerated some spend into 2025. The early results from these direct efforts are positive, as registrations for the fall 2026 school year are already ahead of last year.

To put the partner growth in context with the overall service revenue generated from these relationships in Q3 2025, here are the key financial and enrollment figures:

Metric	Q3 2025 Value	Year-over-Year Change
Service Revenue	$261.1 million	Increase of 9.6%
Total Partner Enrollments	138,073	Increase of 7.9%
GCU Total Enrollments	132,486	Increase of 7.7%
Operating Margin	6.9%	Down from 20.2% in Q3 2024

If onboarding takes 14+ days, churn risk rises, so the efficiency of these high-touch support systems is defintely critical to maintaining the growth trajectory.

Finance: draft 13-week cash view by Friday.

Grand Canyon Education, Inc. (LOPE) - Canvas Business Model: Channels

You're looking at how Grand Canyon Education, Inc. (GCE) gets its services-the operational backbone for its university partners-out to the students. It's a multi-pronged approach, heavily weighted toward digital delivery but with a physical footprint that's still growing. Honestly, the numbers from late 2025 show this hybrid approach is what's driving the growth.

Online learning platforms for distance education are the core engine here. The GCU online campus saw total enrollment growth of 9.6% in the third quarter of 2025. At the end of the second quarter, June 30, 2025, GCU online enrollments stood at 104,856 students, which was up 10.1% year-over-year from the prior year's 95,279. This platform is designed to handle massive scale, supporting over 300 programs delivered fully online.

The physical touchpoints are expanding through off-campus classroom and laboratory sites. While the prompt specifies 47 total sites as of late 2025, we know that by June 30, 2025, the total number of these sites was 45 locations. This growth is strategic; GCE opened two new sites in the first half of 2025 and planned to open five additional sites throughout 2025. Enrollment in these hybrid locations is strong, showing a year-over-year increase of 19.3% in Q3 2025 when excluding sites on teach-out or closed to new recruitment. These sites are critical for high-demand, higher-revenue-per-student programs, like the Accelerated Bachelor of Science in Nursing (ABSN).

For student acquisition, direct-to-consumer digital marketing and social media campaigns are key, especially for the traditional campus segment. GCE employs a comprehensive marketing strategy that includes lead acquisition and digital communications to support its university partners. Management noted they made changes to the marketing and recruitment strategy for GCU's traditional campus, which accelerated some spend into 2025, and early results showed registrations for the fall 2026 school year were ahead of last year.

The human element comes through the enrollment counselors and admissions teams. These teams are tasked with more than just processing applications; university development counselors work to establish relationships with a variety of employers, including schools, hospitals, and community colleges, to improve workforce performance. They offer consultations to staff of alliance participants to discuss career and academic goals. This personal touch helps drive the 10.3% year-over-year increase in total partner enrollments seen in Q2 2025.

Finally, the model relies on deep integration with university partner websites and physical campuses, primarily through the relationship with Grand Canyon University (GCU), GCE's most significant partner. GCE provides the technological and operational backbone, allowing partner institutions to focus on academics. The scale of this channel is best seen in the overall enrollment and revenue figures for the nine months ending September 30, 2025, which demonstrates the combined output of all these channels:

Metric	Value (as of Q3 2025 or latest period)	Period End Date
Total Partner Enrollments	138,073 students	September 30, 2025
GCU Total Enrollments	132,486 students	September 30, 2025
GCU Online Enrollment Growth	9.6%	Q3 2025
Off-Campus Site Enrollment	4,990 students	June 30, 2025
Service Revenue	$261.1 million	Q3 2025
Service Revenue (Nine Months)	$768.1 million (Calculated: $289.3M Q1 + $247.5M Q2 + $261.1M Q3)	September 30, 2025
Full Year 2025 Revenue Guidance (Low End)	$1,079.8 million	Full Year 2025 Projection

The hybrid growth rate of 17.4% in Q3 2025, or 19.3% excluding certain sites, shows the physical/hybrid channel is outpacing the online channel's 9.6% growth for that quarter. The company expects its full-year 2025 service revenue to land between $1,079.8 million and $1,099.8 million. The operational success here is clear; for the first nine months of 2025, operating income reached $139.8 million. If onboarding takes 14+ days, churn risk rises, so the efficiency of these counselors and digital funnels is defintely key to hitting those revenue targets.

• GCE provides services to 20 university partners.
• ABSN program NCLEX first-time pass rate is approximately 90%.
• The company has invested over $345 million in technology over 16 years to support these channels.

Grand Canyon Education, Inc. (LOPE) - Canvas Business Model: Customer Segments

You're looking at the core groups Grand Canyon Education, Inc. (LOPE) serves through its education services organization (ESO) model as of late 2025. This isn't about guessing future trends; it's about mapping the current student and institutional base using the latest reported figures.

The primary customer segment is the 20 university partners Grand Canyon Education, Inc. (LOPE) provides services to as of September 30, 2025. Grand Canyon University (GCU), the most significant partner, accounted for a large portion of the total partner enrollments, which reached 138,073 students as of September 30, 2025.

The student body is segmented across various delivery models, showing a clear focus on scale and flexibility:

• Students seeking online degree programs: GCU online enrollments were up 9.6% year-over-year in the third quarter of 2025.
• Students seeking hybrid degree programs: Enrollment at off-campus classroom and laboratory sites increased by 19.3% in Q3 2025 (excluding closed sites and those in teach-out).
• Students in high-demand fields: Since the GCE/GCU transaction, Grand Canyon Education, Inc. (LOPE) helped GCU graduate 55,808 students in education and 54,068 in nursing and health care professions.

Grand Canyon Education, Inc. (LOPE) also targets specific professional and workforce segments:

• Working adults and career changers needing professional degrees: The company noted a trend where the number of students between 18 and 25 years old choosing to do college online is rising. The professional studies segment at GCU has seen a continued decline.
• Employers seeking customized workforce development: Grand Canyon Education, Inc. (LOPE) is working with over 5,500 employers directly to address workforce shortages.

Here's a snapshot of the scale within key program areas as of mid-to-late 2025:

Segment Detail	Metric/Count	Date/Period Reference
Total Partner Enrollments	138,073 students	September 30, 2025
GCU Online Enrollment Growth	9.6%	Q3 2025 Year-over-Year
Hybrid Enrollment Growth (Excl. Closed Sites)	15.4%	Q2 2025 Year-over-Year
GCU Education Graduates (Since Transaction)	55,808	Past 7+ Years
GCU Nursing Graduates (Since Transaction)	54,068	Past 7+ Years
Employers Engaged for Workforce Solutions	Over 5,500	Q2 2025

The focus on high-demand areas shows concrete output. For example, in the manufacturing pathway program, 212 students successfully completed the program in the 2024-2025 fiscal year. Also, Grand Canyon Education, Inc. (LOPE) helped other partners graduate over 15,000 pre-licensure nurses and occupational therapist assistants.

The company's service revenue growth is directly tied to these enrollment numbers. Service revenue for the three months ended September 30, 2025, was $261.1 million, an increase of 9.6% year-over-year, primarily due to the 7.9% increase in partner enrollments. Finance: review the Q4 2025 guidance for service revenue, projected between $305.0 million and $310.0 million.

Grand Canyon Education, Inc. (LOPE) - Canvas Business Model: Cost Structure

You're looking at the expenses Grand Canyon Education, Inc. (GCE) is managing to support its university partners as of late 2025. Honestly, the cost side of this model is heavily influenced by compliance and infrastructure build-out. Here's the quick math on the major known outflows.

Operating expenses for providing services to partners are significantly impacted by fluctuating costs, particularly benefit expenses. For the three months ended September 30, 2025, the operating income was reported at $18.0 million, representing an operating margin of just 6.9% for that quarter. This was materially impacted by non-recurring items. For the nine months ended September 30, 2025, the operating income was $157.8 million, with an operating margin of 19.8%. Management noted the continued impact of significantly higher-than-expected benefit costs as a result of higher claim costs across the business.

The capital needs to keep the physical footprint growing are clearly defined. Capital expenditures (CapEx) for new sites, which includes classroom and laboratory sites, are guided for the full year 2025 to be between $30 million and $35 million. To give you a snapshot of the quarterly spend cadence leading up to Q3 2025:

Period Ended	CapEx Amount	CapEx as % of Service Revenue
March 31, 2025 (Q1)	Approximately $8.9 million	3.1%
June 30, 2025 (Q2)	Approximately $8.6 million	3.5%
September 30, 2025 (Q3)	Approximately $9.7 million	3.7%

The trend shows an acceleration in CapEx spend through the first three quarters of 2025.

Significant investment in technology and marketing shows up in rising operational costs. While a specific marketing spend number isn't isolated here, the company noted that technology services costs are rising, which is baked into the second half 2025 guidance. Furthermore, GCE capitalizes certain costs related to internal-use software development and the digital creation of content for university partners, which are then amortized over their useful life, generally three years for software. The company also made a specific, non-CapEx related operational outlay in Q3 2025:

• Contributions in lieu of state income taxes made in July 2025: $5.0 million, which increased General and Administrative expenses by this amount in Q3 2025.

Personnel costs for enrollment, counseling, and back-office staff are a major component of operating expenses, and this area saw a massive one-time charge. The most significant cost event in Q3 2025 was the reserve set aside for a legal matter directly concerning enrollment counselor compensation. This one-time litigation settlement reserve was $35.0 million, recorded in the third quarter of 2025. Also impacting personnel-related costs in that quarter were:

• Severance costs: $0.3 million in Q3 2025.

The one-time litigation settlement reserve of $35.0 million in Q3 2025 was the primary driver in reducing the reported operating income for the quarter to $18.0 million from an adjusted operating income of $58.2 million for the same period. Excluding this reserve and other items, the adjusted operating margin for Q3 2025 was 22.3%.

Finance: draft 13-week cash view by Friday.

Grand Canyon Education, Inc. (LOPE) - Canvas Business Model: Revenue Streams

You're looking at the core of how Grand Canyon Education, Inc. (GCE) brings in its money, which is almost entirely built around its service agreements with university partners. This isn't about selling a product; it's about providing a full array of support services in the post-secondary education sector to these partners, currently numbering 20 university partners.

The primary mechanism for revenue generation is a share of tuition and fees collected from students enrolled in programs managed or supported by GCE's infrastructure and operational processes. This model ties GCE's success directly to the enrollment performance of its partners.

Here is a look at the key financial figures driving this revenue stream as of late 2025:

Metric	Value
Q3 2025 Service Revenue	$261.1 million
Full-Year 2025 Service Revenue Guidance (Low End)	$1,100.3 million
Full-Year 2025 Service Revenue Guidance (High End)	$1,107.3 million
Full-Year 2025 Adjusted Operating Margin Guidance (Low End)	24.0%
Full-Year 2025 Adjusted Operating Margin Guidance (High End)	24.3%

The top-line growth remains solid, with Q3 2025 service revenue showing a 9.6% increase year-over-year, driven by partner enrollments growing 7.9% to 138,073 students at September 30, 2025. Still, you need to watch the per-student economics closely.

Revenue per student is experiencing a slight downward pressure. This trend is not a sign of immediate distress, but it warrants attention. Here are the main factors causing this shift:

• Contract modifications with some university partners.
• Revenue share percentage was reduced in some contracts.
• GCE is no longer reimbursing partners for certain faculty costs in those modified contracts.
• Continued mix shift to online students who have a slightly lower net tuition rate.

To be fair, the Q3 2025 adjusted operating margin actually expanded to 22.3% from 21.1% year-over-year, partly because those contract modifications-where GCE took on less revenue share but also shed reimbursement responsibilities-helped the profitability structure, even as revenue per student softened a bit. That's the trade-off you see in these service models; managing the cost structure alongside the revenue share is defintely key to hitting that full-year adjusted operating margin guidance between 24.0% and 24.3%.

Finance: draft 13-week cash view by Friday.