v3.26.3
Stockholders' Equity
 9 Months Ended
Sep. 30, 2026
Equity [Abstract]  
Stockholders' Equity Stockholders’ Equity
The components of net changes in stockholders’ equity for the nine months ended September 30, 2026 are as follows:
Laureate Education, Inc. Stockholders
Common stockAdditional paid-in capitalRetained earningsAccumulated other comprehensive lossNon-controlling interestsTotal stockholders’ equity
SharesAmount
Balance at December 31, 2025142,940 $572 $1,075,460 $416,889 $(304,984)$(575)$1,187,362 
Non-cash share-based compensation— — 2,616 — — — 2,616 
Purchase and retirement of common stock(3,168)(13)(23,835)(82,307)— — (106,155)
Exercise of stock options and vesting of restricted stock units, net of shares withheld to satisfy tax withholding206 1 (2,364)— — — (2,363)
Net loss— — — (21,594)— — (21,594)
Foreign currency translation adjustment, net of tax of $0
— — — — (11,858)(1)(11,859)
Minimum pension liability adjustment, net of tax of $0
— — — — 48 — 48 
Balance at March 31, 2026139,978 $560 $1,051,877 $312,988 $(316,794)$(576)$1,048,055 
Non-cash share-based compensation— — 4,123 — — — 4,123 
Purchase and retirement of common stock(2,237)(9)(16,814)(59,586)— — (76,409)
Vesting of restricted stock units, net of shares withheld to satisfy tax withholding8 — — — — — — 
Reclassification of redeemable equity to non-redeemable equity— — 699 — — — 699 
Net income— — — 137,103 — — 137,103 
Foreign currency translation adjustment, net of tax of $0
— — — — 27,235 1 27,236 
Balance at June 30, 2026137,749 $551 $1,039,885 $390,505 $(289,559)$(575)$1,140,807 
Non-cash share-based compensation— — 3,872 — — — 3,872 
Purchase and retirement of common stock(2,009)(8)(15,164)(60,615)— — (75,787)
Vesting of restricted stock units, net of shares withheld to satisfy tax withholding6 — — — — — — 
Change in noncontrolling interests— — (1,536)— 965 571 — 
Net income— — — 101,216 — — 101,216 
Foreign currency translation adjustment, net of tax of $0
— — — — (10,565)4 (10,561)
Balance at September 30, 2026135,746 $543 $1,027,057 $431,106 $(299,159)$— $1,159,547 
Stock Repurchases

On September 13, 2024, the Company announced that its Board of Directors had approved a $100,000 stock purchase program. On October 30, 2025, the Company announced that its Board of Directors had approved a $150,000 increase to the authorization for the Company’s stock repurchase program. On February 19, 2026, the Company announced that its Board of Directors had approved an additional $150,000 increase to the existing authorization for the Company’s stock repurchase program. On July 30, 2026, the Company announced that its Board of Directors had approved an additional $150,000 increase to the existing authorization for the Company’s stock repurchase program, which has no fixed expiration date, for a total authorization of $550,000.

As of September 30, 2026, the Company had $75,184 of capacity remaining under its stock repurchase authorization. On October 29, 2026, the Company announced that its Board of Directors had approved an additional $150,000 increase to the existing authorization for the Company’s stock repurchase program. After giving effect to this new authorization and taking into account the cumulative repurchases through September 30, 2026, the Company may repurchase up to approximately $225,184 of its common stock under its stock repurchase program, which has no fixed expiration date.

The Company intends to finance the repurchases with free cash flow, excess cash and liquidity on-hand, including available capacity under its Revolving Credit Facility. The Company’s proposed repurchases may be made from time to time on the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations promulgated under the Exchange Act. Repurchases may be effected pursuant to a trading plan adopted in accordance with Rule 10b5-1 of the Exchange Act. The Company’s Board of Directors will review the share repurchase program periodically and may authorize adjustment of its terms and size or suspend or discontinue the program. Under this stock repurchase program, all shares repurchased are immediately retired. Upon retirement of repurchased stock, the excess of the purchase price plus excise tax over par value is allocated to additional paid-in capital, subject to certain limitations. Any remainder is allocated to retained earnings to the extent that positive retained earnings exist.
The components of net changes in stockholders’ equity for the nine months ended September 30, 2025 are as follows:
Laureate Education, Inc. Stockholders

Common stock		Additional paid-in capital
Retained earnings
Accumulated other comprehensive lossNon-controlling interestsTotal stockholders’ equity
SharesAmount
Balance at December 31, 2024150,794 $604 $1,129,511 $291,644 $(462,210)$(2,404)$957,145 
Non-cash share-based compensation— — 2,463 — — — 2,463 
Purchase and retirement of common stock(2,181)(9)(16,339)(25,875)— — (42,223)
Exercise of stock options and vesting of restricted stock units, net of shares withheld to satisfy tax withholding197 1 (1,129)— — — (1,128)
Equitable adjustments to stock-based awards— — (2)— — — (2)
Net loss— — — (19,496)— (57)(19,553)
Foreign currency translation adjustment, net of tax of $0
— — — — 9,336 (3)9,333 
Balance at March 31, 2025148,810 $596 $1,114,504 $246,273 $(452,874)$(2,464)$906,035 
Non-cash share-based compensation— — 3,481 — — — 3,481 
Purchase and retirement of common stock(1,489)(6)(11,153)(17,890)— — (29,049)
Exercise of stock options and vesting of restricted stock units, net of shares withheld to satisfy tax withholding42 — 86 — — — 86 
Equitable adjustments to stock-based awards— — 8 — — — 8 
Net income— — — 95,083 — 2,343 97,426 
Foreign currency translation adjustment, net of tax of $0
— — — — 73,364 — 73,364 
Balance at June 30, 2025147,363 $590 $1,106,926 $323,466 $(379,510)$(121)$1,051,351 
Non-cash share-based compensation— — 3,765 — — — 3,765 
Vesting of restricted stock units, net of shares withheld to satisfy tax withholding6 — — — — — — 
Change in noncontrolling interests— — 321 — — (321)— 
Equitable adjustments to stock-based awards— — 1 — — — 1 
Net income (loss)— — — 34,487 — (108)34,379 
Foreign currency translation adjustment, net of tax of $0
— — — — 28,620 (1)28,619 
Balance at September 30, 2025147,369 $590 $1,111,013 $357,953 $(350,890)$(551)$1,118,115 

Share-based Compensation Expense

During the three and nine months ended September 30, 2026 and 2025, the Company recorded share-based compensation expense for restricted stock unit awards of $3,872 and $3,765, respectively, and $10,611 and $9,709, respectively.
Accumulated Other Comprehensive Income (Loss)

Accumulated other comprehensive income (loss) (AOCI) in our Consolidated Balance Sheets includes the accumulated translation adjustments arising from translation of foreign subsidiaries’ financial statements, the unrealized gain on a derivative designated as an effective net investment hedge, and the accumulated net gains or losses that are not recognized as components of net periodic benefit cost for our minimum pension liability. The AOCI related to the net investment hedge will be deferred from earnings until the sale or liquidation of the hedged investee. Laureate reports changes in AOCI on our Consolidated Statements of Stockholders’ Equity. The components of these balances were as follows:
September 30, 2026December 31, 2025
Laureate Education, Inc.Noncontrolling InterestsTotalLaureate Education, Inc.Noncontrolling InterestsTotal
Foreign currency translation adjustment$(307,833)$— $(307,833)$(313,610)$961 $(312,649)
Unrealized gain on derivatives10,416 — 10,416 10,416 — 10,416 
Minimum pension liability adjustment(1,742)— (1,742)(1,790)— (1,790)
Accumulated other comprehensive loss$(299,159)$— $(299,159)$(304,984)$961 $(304,023)