Adtalem Global Education Inc.

Greetings and welcome to the Ad Talem Global Education Second Quarter 2025 Earnings Call. At this time, all participants are in a listen-only mode. The question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. Please note, this conference is being recorded. I will now turn the conference over to your host, Jay Spitzer, Vice President of Investor Relations. Thank you. You may begin.

Good afternoon and welcome to our earnings call for the second quarter fiscal year 2025 results. On the call with me today are Steve Beard, Chairman and Chief Executive Officer of AdTalent Global Education, and Bob Phelan, Chief Financial Officer. Before I hand you over to Steve, I will as usual take you through legal, safe harbor, and cautionary declarations. Certain statements and projections of future results made in this presentation constitute as forward-looking statements that are based on our current market competitive and regulatory expectations and are subject to risks and uncertainties that could cause actual results to vary materially. We undertake no obligations to update publicly any forward-looking statement after this presentation by the result of new information, future events, changes in assumptions, or otherwise. Please see our latest Form 10-K, Form 10-Q, for discussion of risk factors as it relates to forward-looking statements. In today's presentation, we will use certain non-GAAP financial measures. We refer you to the appendix of the presentation materials available on our Investor Relations website for reconciliations for the most directly comparable GAAP financial measures and related information. You will find a link to the webcast on our Investor Relations website at investors.adtalent.com. After this call, the presentation webcast will be archived on the website for 30 days. I will now hand you over to Steve.

Thank you and good afternoon, everyone. Today, I'm excited to share how ATALM is transforming healthcare education in America and delivering exceptional results in the process. The healthcare workforce crisis remains one of our nation's most urgent challenges. Through our family of institutions, we're meeting this challenge head on by preparing the next generation of clinicians who will serve communities across the country. Our second quarter results validate that our strategy isn't just working, it's accelerating. Revenue grew by 14% to $448 million. Total enrollment was up 11.6% year-over-year, improving for the 11th consecutive quarter. We now serve over 91,000 students, and our adjusted EBITDA margin expanded by 440 basis points, driving a 47% increase in adjusted earnings per share to $1.81 per share. These aren't just numbers. They represent real impact. Every percentage point of growth means more nurses, doctors, social workers, and mental health professionals entering communities where they're desperately needed. And we're achieving this growth while maintaining our unwavering commitment to inclusive access, academic quality, and student success. Let me share some concrete examples of how we're innovating to expand our impact. Chamberlain University, the country's largest nursing school, is up 11.5% to another record level of total enrollment. Our BSN online program offered in 36 states now has 44 clinical hub locations in metropolitan areas with a goal of more than 65 hubs by the end of our fiscal year, 2026. Bringing the clinical experience closer to our students and making quality education more accessible. And if you add our 23 physical campus locations, we're offering nursing programs to qualified students across 43 states. Walden University continues to thrive with enrollment up 13.2%. Our new Get the W campaign is resonating. Since launch in early December, we're seeing encouraging student engagement. We're also expanding access through innovative offerings like our Believe and Achieve Scholarship, which provides financial clarity and rewards persistence, as well as our new Graduation Award for undergraduate students who complete their degrees, also underscoring our support for student success. In mental health, where nearly half of Americans live in workforce shortage areas, our impact is particularly striking. Chamberlain and Walden together graduated more psychiatric mental health nurse practitioners in 2023 than all other top 20 programs combined. And today, we have over 9,600 aspiring mental health nurse practitioners in our programs. In our medical and veterinary segment, the second quarter isn't an enrollment period, but we're seeing encouraging signs that our initiatives are working, with January new enrollment demand up year over year. Our clinical return home offering with our hospital partners and our USMLE student prep efforts are showing positive results, positioning us for enrollment growth in the near term. We're also leading the integration of AI in healthcare education. Our partnership with Hippocratic AI is already producing clinicians skilled in practical AI applications. And two of our Chamberlain leaders, Dr. Karen Cox and Dr. Casey Spencer, are pioneering AI tools for diabetes care and infant safety that can make a real difference in patient care. To accelerate our digital transformation and AI integration efforts, I'm pleased to announce that Michael Betts, President of Walden University, will now also serve as Atalem's Chief Digital Officer. Michael brings exactly the strategic vision and the execution experience we need as we enter this next phase of innovation in higher education. He succeeds Steve and Tom, our former Chief Customer Officer, who departed in late 2024. Michael will continue his successful leadership of Walden University while taking on this expanded role, guiding our digital strategy across all institutions and operations. Given our strong performance, we're raising our fiscal 2025 guidance. We now expect revenue between $1.73 billion and $1.76 billion, with adjusted earnings per share of $6.10 to $6.30. Let me be clear about what drives these results. Our growth with purpose strategy is fundamentally an operational excellence framework, and it guides everything we do. At its core, it's about rigorous execution, high integrity, continuous process improvement, and disciplined resource allocation. This operational rigor enables us to expand access to quality education while maintaining excellence in student outcomes. It's how we're efficiently addressing critical workforce shortages while delivering value to our shareholders. And most important, it's how we're systematically scaling our impact to change more lives, those of our students and the millions of patients they'll serve throughout their careers. Every day, I see Atalem's potential to change the face of healthcare. We have the scale, the innovation, and most importantly, the mission-driven team to make it happen. As we look ahead, we'll continue to invest in growth while delivering the returns our shareholders expect. And with that, I'll turn it over to Bob for a deeper dive into our financial results.