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Discontinued Operations
 6 Months Ended
Dec. 31, 2024
Discontinued Operations And Disposal Groups [Abstract]  
Discontinued Operations

3. Discontinued Operations

On December 11, 2018, Adtalem completed the sale of DeVry University to Cogswell Education, LLC (“Cogswell”) for de minimis consideration. As the sale represented a strategic shift that had a major effect on Adtalem’s operations and financial results, DeVry University is presented in Adtalem’s Consolidated Financial Statements as a discontinued operation. The purchase agreement includes an earn-out entitling Adtalem to payments of up to $20.0 million over a ten-year period payable based on DeVry University’s financial results. Adtalem received $7.0 million and $5.5 million during the second quarter of fiscal year 2025 and 2024, respectively, related to the earn-out. To date, we have received a total of $19.5 million related to the earn-out.

The following is a summary of income statement information reported as discontinued operations, which includes expense from ongoing litigation costs and settlements related to the DeVry University divestiture and the earn-outs we received (in thousands):

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Three Months Ended

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Six Months Ended

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December 31,

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December 31,

​

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2024

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2023

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2024

​

2023

Revenue

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$

—

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$

—

​

$

—

​

$

—

Operating cost and expense:

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​

​

 

​

​

 

​

​

 

​

Student services and administrative expense

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(6,271)

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(2,926)

​

 

(6,164)

​

 

(1,161)

Total operating cost and expense

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(6,271)

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(2,926)

​

 

(6,164)

​

 

(1,161)

Income from discontinued operations before income taxes

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​

6,271

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​

2,926

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​

6,164

​

​

1,161

Provision for income taxes

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(1,591)

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(748)

​

 

(1,564)

​

 

(296)

Income from discontinued operations

​

$

4,680

​

$

2,178

​

$

4,600

​

$

865

​