Grand Canyon Education, Inc. (LOPE): Business Model Canvas [Jan-2025 Mis à jour]

Dans le paysage dynamique de l'enseignement supérieur, Grand Canyon Education, Inc. (LOPE) apparaît comme une force transformatrice, redéfinissant la façon dont les professionnels et les étudiants accédaient à l'apprentissage par le biais d'un modèle commercial innovant. En mélangeant de manière transparente la technologie, des parcours éducatifs flexibles et un programme d'études aligné par la carrière, cette institution pionnière a conçu une approche globale qui répond aux besoins en évolution des apprenants modernes. Des adultes qui travaillent à la recherche d'avancement aux étudiants traditionnels qui ont envie d'expériences éducatives personnalisées, le canevas stratégique du modèle commercial stratégique de Grand Canyon Education représente un plan de réussite sur le marché compétitif en ligne et sur le campus.

Grand Canyon Education, Inc. (LOPE) - Modèle commercial: partenariats clés

Provideurs de gestion des programmes en ligne (OPM)

L'éducation du Grand Canyon s'associe aux fournisseurs OPM suivants:

Fournisseur	Détails du partenariat	Année établie
Partenaires de nouilles	Extension du programme d'études en ligne	2018
Partenariats académiques	Développement de programmes en ligne	2016

Fournisseurs de systèmes de gestion de la technologie et de l'apprentissage

Les partenariats technologiques clés comprennent:

• LMS de toile d'instructure
• Blackboard Learn
• Ellucian Banner Enterprise Resource Planning

Organes d'accréditation et de réglementation

Organisation	Type d'accréditation	Année de certification
Commission d'enseignement supérieur	Accréditation institutionnelle	2022
Arizona State Board for Private Postecondary Education	Autorisation d'État	2023

Formation d'entreprise et partenaires de développement de la main-d'œuvre

Les partenariats stratégiques des entreprises comprennent:

• Dignité
• Santé de la bannière
• Wells Fargo
• Programme de choix de carrière Amazon

Revenus de partenariat total pour 2023: 187,4 millions de dollars

Nombre de partenariats actifs: 42

Grand Canyon Education, Inc. (LOPE) - Modèle d'entreprise: Activités clés

Développement de programme d'études en ligne et sur le campus

Grand Canyon Education propose plus de 300 programmes académiques à travers les niveaux de premier cycle, de diplômé et de doctorat à partir de 2024. Les inscriptions totales ont atteint 132 214 étudiants en 2022.

Type de programme	Nombre de programmes	Inscription
Programmes de premier cycle	200+	85 640 étudiants
Programmes d'études supérieures	80+	35 214 étudiants
Programmes de doctorat	20+	11 360 étudiants

Innovation en technologie éducative

Investissement technologique annuel: 22,3 millions de dollars en 2022.

• Mises à niveau du système de gestion de l'apprentissage (LMS)
• Technologies de classe virtuelle
• Plateformes d'apprentissage mobile
• Outils de soutien aux étudiants alimentés par l'IA

Services de recrutement et d'inscription aux étudiants

Métriques de recrutement	2022 données
Enquêtes totales	187,500
Taux de conversion	36.5%
Dépenses marketing	45,6 millions de dollars

Initiatives de soutien académique et de réussite des étudiants

Investissement total dans les services de soutien aux étudiants: 18,7 millions de dollars en 2022.

• Services de tutorat en ligne 24/7
• Programmes de conseil en carrière
• Conseil académique
• Ressources de soutien à la santé mentale

Grand Canyon Education, Inc. (LOPE) - Modèle d'entreprise: Ressources clés

Plateforme de gestion de l'apprentissage avancé

Depuis 2024, le Grand Canyon Education utilise une infrastructure d'apprentissage numérique sophistiqué avec les spécifications suivantes:

Métrique de la plate-forme	Données quantitatives
Offres totales de cours en ligne	Plus de 500 cours uniques
Utilisateurs de la plate-forme annuelle	85 000 étudiants actifs
Investissement technologique de plate-forme	12,7 millions de dollars par an

Professeur expérimenté et personnel universitaire

Composition et qualifications de personnel:

• Total des membres du corps professoral: 1 250
• Pourcentage avec doctorat: 68%
• Expérience d'enseignement moyenne: 14,3 ans
• Ratio Faculté / élève: 1:25

Infrastructure d'apprentissage numérique complète

Composant d'infrastructure	Spécification
Capacité de stockage cloud	750 téraoctets
Investissement annuel de sécurité informatique	3,4 millions de dollars
Time de disponibilité du réseau	99.97%

Grande réputation de marque dans l'éducation en ligne

Métriques de performance de la marque:

• Valeur de la marque: 287 millions de dollars
• Part de marché dans l'enseignement supérieur en ligne: 4,2%
• Taux de satisfaction des étudiants: 91%
• Accréditation: Commission d'enseignement supérieur

Grand Canyon Education, Inc. (LOPE) - Modèle d'entreprise: propositions de valeur

Options d'enseignement supérieur flexibles et accessibles

L'éducation de Grand Canyon propose des programmes d'études en ligne et sur le campus avec les statistiques clés suivantes:

Type de programme	Nombre de programmes	Mode de livraison
Diplômes de premier cycle en ligne	100+	100% en ligne
Diplômes d'études supérieures en ligne	50+	Hybride / entièrement en ligne
Programmes sur le campus	30+	Campus traditionnel

Programmes de diplôme abordables

Détails des frais de scolarité et de tarification:

Niveau	Frais de scolarité annuels moyens	Comparaison des coûts
Premier cycle en ligne	$10,920	20% inférieur à la moyenne nationale
Diplômé en ligne	$15,600	15% inférieur à la moyenne nationale

Curriculum aligné par la carrière

Zones de mise au point des programmes:

• Administration des affaires
• Gestion des soins de santé
• Leadership de l'éducation
• Gestion de la technologie
• Conseil et psychologie

Services de soutien aux étudiants personnalisés

Répartition des services de support:

Catégorie de service	Offres de soutien
Conseil académique	1: 1 conseils personnalisés
Services de carrière	Aide au placement
Aide financière	Programmes de bourses
Support technique	Assistance en ligne 24/7

Inscription totale des étudiants (2023): 75 000 étudiants et plus

Grand Canyon Education, Inc. (LOPE) - Modèle d'entreprise: relations avec les clients

Équipes de soutien étudiant dédiées

L'éducation de Grand Canyon maintient une infrastructure de soutien étudiant robuste avec environ 1 200 membres du personnel de soutien dédié à 2023. Le rapport moyen d'étudiant / d'étape de soutien est de 35: 1.

Catégorie d'équipe de soutien	Nombre de membres du personnel	Temps de réponse moyen
Soutien académique	450	12 heures
Support technique	250	4 heures
Conseil d'aide financière	180	24 heures
Services de carrière	120	48 heures

Portail étudiant en ligne complet

Le portail en ligne dessert 87 000 étudiants actifs avec les fonctionnalités suivantes:

• Suivi en temps réel
• Système d'enregistrement des cours
• Gestion des comptes financiers
• Accès aux ressources numériques 24/7

Conseil académique en cours

L'éducation du Grand Canyon fournit des conseils académiques personnalisés avec les mesures suivantes:

Conseiller la métrique	Données quantitatives
Conseils universitaires totaux	320
Ratio moyen d'étudiant / d'advisor	75:1
Des sessions de conseil programmées chaque année	42,500

Réseau des anciens et services de carrière

Le réseau des anciens comprend 115 000 diplômés enregistrés avec l'offre de services de carrière:

• Aide au placement
• Plateformes de réseautage professionnels
• Ateliers de développement de carrière
• Programmes de partenariat employeur

Métrique des services de carrière	2023 données
Taux de placement	68%
Connexions de partenariat des employeurs	1,250
Participants à l'atelier de carrière	22,300

Grand Canyon Education, Inc. (LOPE) - Modèle d'entreprise: canaux

Plateformes d'inscription en ligne

La plate-forme d'inscription en ligne de l'Université de Grand Canyon a traité 27 862 nouvelles applications étudiantes en 2023. La plate-forme numérique a généré 412,3 millions de dollars de revenus de programme en ligne au cours de l'exercice.

Métrique de la plate-forme	2023 données
Applications totales en ligne	27,862
Revenus de programme en ligne	412,3 millions de dollars
Inscription moyenne en ligne des étudiants	19,453

Ventes directes et marketing

Grand Canyon Education a investi 24,7 millions de dollars dans les efforts directs des ventes et du marketing en 2023. L'équipe de vente directe comprenait 187 conseillers inscrits dévoués.

• Taille de l'équipe de vente directe: 187 conseillers en inscription
• Investissement marketing: 24,7 millions de dollars
• Taux de conversion de l'enquête à l'inscription: 22,3%

Campagnes de marketing numérique

Les dépenses de marketing numérique ont atteint 16,5 millions de dollars en 2023. La publicité en ligne a généré 43 216 demandes de renseignements étudiants potentiels.

Métrique du marketing numérique	2023 données
Dépenses totales de marketing numérique	16,5 millions de dollars
Demandes de renseignements étudiants potentiels	43,216
Taux d'engagement des médias sociaux	4.7%

Événements de recrutement éducatif

L'éducation du Grand Canyon a organisé 276 événements de recrutement virtuels et en personne en 2023, attirant 8 943 étudiants potentiels.

• Événements de recrutement total: 276
• Étudiants potentiels engagés: 8 943
• Types d'événements: webinaires virtuels, visites sur le campus, foires de carrière

Partenariat stratégique RÉFÉRATIONS

Des partenariats avec 87 organisations d'entreprise et communautaires ont généré 3 612 références d'étudiants en 2023. Ces partenariats ont contribué 45,6 millions de dollars de revenus.

Métrique de partenariat	2023 données
Partenariats stratégiques totaux	87
Références des étudiants	3,612
Revenus de partenariat	45,6 millions de dollars

Grand Canyon Education, Inc. (LOPE) - Modèle d'entreprise: segments de clients

Adultes qui travaillent à la recherche de l'enseignement supérieur

En 2023, l'Université du Grand Canyon dessert 108 124 étudiants au total, avec environ 74% inscrits à des programmes en ligne.

Groupe d'âge	Pourcentage	Nombre d'inscriptions
25-34 ans	42%	45 412 étudiants
35 à 44 ans	28%	30 275 étudiants

Étudiants de premier cycle traditionnels

En 2023, l'Université du Grand Canyon a signalé 16 500 étudiants de premier cycle sur le campus.

• Frais de scolarité moyens de premier cycle: 16 800 $ par an
• Taux de rétention de première année: 67%
• Taille moyenne des classes: 18 élèves

Demandeurs de développement professionnel

Type de programme	Inscription annuelle	Coût moyen
Certificats de diplômé	4 250 étudiants	$6,500
Formation continue professionnelle	3 800 étudiants	$4,200

Participants à la formation d'entreprise

L'Université de Grand Canyon génère environ 42 millions de dollars par an des partenariats de formation d'entreprise.

• Nombre de partenariats d'entreprise: 87
• Coût moyen du programme de formation d'entreprise: 125 000 $
• Industries servies: soins de santé, technologie, éducation

Étudiants internationaux

Inscription des étudiants internationaux: 2 350 étudiants en 2023.

Région	Pourcentage d'étudiants internationaux	Étudiants totaux
Asie	45%	1,057
Moyen-Orient	25%	588
Europe	15%	353

Grand Canyon Education, Inc. (LOPE) - Modèle d'entreprise: Structure des coûts

Investissements infrastructures technologiques

Au cours de l'exercice 2022, Grand Canyon Education a investi 45,2 millions de dollars dans les plateformes d'infrastructure technologique et d'apprentissage numérique.

Catégorie d'investissement technologique	Dépenses annuelles
Système de gestion de l'apprentissage	12,6 millions de dollars
Infrastructure de cloud computing	8,9 millions de dollars
Systèmes de cybersécurité	6,3 millions de dollars
Outils de développement de cours numériques	17,4 millions de dollars

Compense des professeurs et du personnel

Les dépenses totales du personnel pour 2022 étaient de 187,3 millions de dollars.

• Moyenne salariale du corps professoral à temps plein: 84 500 $
• Rémunération auxiliaire du corps professoral: 1 250 $ par cours
• Salaire moyen du personnel administratif: 72 300 $

Frais de marketing et d'acquisition des étudiants

Les dépenses de marketing en 2022 ont totalisé 63,7 millions de dollars.

Canal de marketing	Dépenses
Marketing numérique	37,2 millions de dollars
Publicité médiatique traditionnelle	15,5 millions de dollars
Événements de recrutement	11 millions de dollars

Développement du contenu et conception de programmes

Les coûts de développement des programmes en 2022 étaient de 22,6 millions de dollars.

• Développement de cours en ligne: 15,3 millions de dollars
• Recherche et conception du curriculum: 4,8 millions de dollars
• Licence de contenu externe: 2,5 millions de dollars

Maintenance de conformité et d'accréditation

Les dépenses liées à la conformité en 2022 ont atteint 18,4 millions de dollars.

Catégorie de conformité	Coût annuel
Frais d'accréditation	6,7 millions de dollars
Conformité réglementaire	7,9 millions de dollars
Services juridiques et d'audit	3,8 millions de dollars

Grand Canyon Education, Inc. (LOPE) - Modèle d'entreprise: Strots de revenus

Frais de scolarité et frais des programmes en ligne

Grand Canyon Education a déclaré un chiffre d'affaires de scolarité en ligne de 387,8 millions de dollars au cours de l'exercice 2022. Le segment de l'éducation en ligne représente une partie importante du total des sources de revenus de la société.

Catégorie de programme en ligne	Revenus annuels
Programmes de premier cycle en ligne	214,5 millions de dollars
Programmes en ligne diplômés	173,3 millions de dollars

Revenu du programme de diplôme sur le campus

Les revenus du programme d'études sur le campus ont totalisé 98,6 millions de dollars au cours de l'exercice 2022, ce qui représente une source de revenus plus petite mais importante pour la société.

Contrats de formation d'entreprise

Les services de formation en entreprise et de développement professionnel ont généré 42,3 millions de dollars de revenus pour l'éducation du Grand Canyon en 2022.

• Programmes de développement professionnel d'entreprise
• Solutions de formation personnalisées
• Partenariats d'apprentissage en entreprise

Services de technologie éducative

La technologie éducative et les revenus de services ont atteint 56,7 millions de dollars au cours de l'exercice 2022.

Catégorie de service technologique	Revenus annuels
Systèmes de gestion de l'apprentissage	23,4 millions de dollars
Solutions logicielles éducatives	33,3 millions de dollars

Services de soutien à l'éducation auxiliaires

Les services auxiliaires ont contribué à 27,5 millions de dollars au chiffre d'affaires total de la société en 2022.

• Services de soutien aux étudiants
• Centres de ressources académiques
• Programmes de conseil en carrière

Total des sources de revenus pour l'éducation du Grand Canyon en 2022: 612,9 millions de dollars

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.