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Earnings per Share

12 Months Ended

Jun. 30, 2025

Earnings Per Share [Abstract]

Earnings per Share

8. Earnings per Share

The following table sets forth the computations of basic and diluted earnings per share and antidilutive shares (in thousands, except per share data):

​

​	​	​	​	​	​	​	​	​	​
​	​	Year Ended June 30,
​	​	2025		​	2024		​	2023
Numerator:	​	​	​	​	​	​	​	​	​
Net income (loss):	​		​	​		​	​		​
Continuing operations	​	$	232,677	​	$	137,713	​	$	101,752
Discontinued operations	​	​	4,388	​	​	(936)	​	​	(8,394)
Net income	​	$	237,065	​	$	136,777	​	$	93,358
​	​	​	​	​	​	​	​	​	​
Denominator:	​	​	​	​	​	​	​	​	​
Weighted-average basic shares outstanding	​	​	37,085		​	39,413		​	44,781
Effect of dilutive stock awards	​	​	1,249		​	894		​	743
Effect of ASR	​	​	—		​	—		​	76
Weighted-average diluted shares outstanding	​	​	38,334		​	40,307		​	45,600
​	​	​	​	​	​	​	​	​	​
Earnings (loss) per share:	​	​	​	​	​	​	​	​	​
Basic:	​	​	​	​	​	​	​	​	​
Continuing operations	​	$	6.27	​	$	3.49	​	$	2.27
Discontinued operations	​	$	0.12	​	$	(0.02)	​	$	(0.19)
Total basic earnings per share	​	$	6.39	​	$	3.47	​	$	2.08
Diluted:	​	​	​	​	​	​	​	​	​
Continuing operations	​	$	6.07	​	$	3.42	​	$	2.23
Discontinued operations	​	$	0.11	​	$	(0.02)	​	$	(0.18)
Total diluted earnings per share	​	$	6.18	​	$	3.39	​	$	2.05
​	​	​	​	​	​	​	​	​	​
Weighted-average antidilutive shares	​	​	23	​	​	115	​	​	403

​

As further described in Note 14 “Share Repurchases,” on March 14, 2022, we entered into an accelerated share repurchase (“ASR”) agreement to repurchase $150.0 million of common stock. For purposes of calculating earnings per share, Adtalem reflected the ASR agreement as a repurchase of Adtalem common stock and as a forward contract indexed to its own common stock. Based on the volume-weighted average price of Adtalem’s common stock per the terms of the ASR agreement, common stock of 76 thousand shares were contingently issuable by Adtalem under the ASR agreement and were included in the diluted earnings per share calculation for fiscal year 2023 because the effect would have been dilutive. As of October 14, 2022, the ASR agreement is no longer outstanding. Diluted earnings per share was computed using the treasury stock method for stock awards.

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- Definition

The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/260/tableOfContent

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-3

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