Mike Rundle

Mike Rundle inquired about the strong new student starts in Q2 fiscal 2026, specifically asking which programs and areas drove this robust performance, and followed up on the new programs launching in the second half of fiscal 2026, asking about their initial and recurring cohort capacities and the company's outlook on achieving its acquisition goal within the fiscal year.

Answer

CEO LeeAnn Rohmann highlighted that the Q2 performance benefited from additional cohorts in Diagnostic Medical Sonography and Surgical Technology programs at Contra Costa Medical Career College due to hybrid approval, along with contributions from vocational nursing. She also noted the successful launch of the MRI program at Central Coast with 33 starts and anticipated further new program launches in Q3 and Q4 after state approvals. Rohmann clarified that new programs like MRI and cardiac sonography are designed to accommodate initial cohorts of 20-30 students, with recurring starts every 3-6 months. Regarding acquisitions, she expressed confidence in announcing a deal before the fiscal year-end, based on the current progress and pipeline.

Mike Rundle from Rosenblatt Securities inquired about the strong new student starts in Q2, specific programs driving growth, the launch and capacity of new programs in Q3/Q4, and the company's acquisition pipeline and timeline.

Answer

CEO LeeAnn Rohmann highlighted the impact of additional cohorts in Diagnostic Medical Sonography and Surgical Tech programs at Contra Costa Medical Career College, along with Vocational Nursing, contributing to the strong Q2 enrollments. She also discussed the initial cohort sizes for new programs like MRI and Cardiac Sonography (20-30 students) and expressed confidence in announcing an acquisition before the fiscal year-end. CFO Brandon Pope clarified revenue per student dynamics.