Ser Educacional’s Q2 Profit Climbs as Campuses Fill Up
Brazil · Business
Key Facts
- —The profit Ser Educacional posted reported second-quarter net income of R$106.3 million (about US$20 million), up 30.7% year-on-year.
- —The adjusted line On an adjusted basis, net income reached R$115.4 million (about US$22.3 million), a rise of 33.3%.
- —The revenue Net revenue climbed 5.6% to R$622.0 million (roughly US$120 million).
- —The core Adjusted EBITDA came in at R$180.7 million (about US$35 million), a margin of 29.1%.
- —The driver Growth was led by on-campus operations, with the student base up 4.4% and the average ticket up 5.5%.
For a sector that bet on cheap online courses, the twist was where the money came from. Fuller classrooms and higher fees, not the internet, powered this quarter.
Ser Educacional, one of Brazil’s largest private higher-education groups, lifted its second-quarter profit by roughly a third. The gain came not from its online courses but from fuller campuses and higher fees across the Northeast.
What Ser Educacional reported
Ser Educacional reported net income of R$106.3 million for the second quarter of 2026, about US$20 million. That was a rise of 30.7% from the same period a year earlier.
The group released the figures on 12 August, and the result topped last year’s second quarter.
Two profit lines, honestly explained
This report carries two profit numbers, and it helps to keep them apart. The R$106.3 million is the reported result, the bottom line after every accounting item.
On an adjusted basis, profit reached R$115.4 million, about US$21 million, up 33.3%.
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Where the revenue grew
Net revenue rose 5.6% to R$622.0 million, roughly US$115 million. The push came from the on-campus business rather than the digital arm this time.
The on-campus business grew 10.2%, but group revenue rose 5.6%, and total enrolment fell 2.8% to 334,000 as distance and hybrid students dropped 16.9%.
The on-campus comeback
On-campus revenue climbed 10.2% to R$517.9 million, about US$96 million. The company filled more seats, lifting its on-campus student base by 4.4%.
For a sector that leaned hard into distance learning, that is a notable turn.
Pricing power and the ticket
Higher fees did much of the work, not just fuller classrooms. The average on-campus ticket rose 5.5% to R$881.86 per student.
Raising prices without losing students points to real demand for its courses.
A steady core result
Adjusted EBITDA, a cleaner read on core profitability, came in at R$180.7 million. That is about US$33 million, a rise of 10.8% from a year earlier.
The margin held at 29.1%, close to a third of revenue.
The shift back to campus
Much of Brazilian higher education has chased cheaper online courses in recent years. This quarter, the company’s physical campuses carried the growth instead.
Whether digital can add more later is the question hanging over the next results.
What Ser Educacional does
Ser Educacional is one of Brazil’s largest private higher-education groups. It is rooted in the Northeast and headquartered in Recife, in Pernambuco.
The group runs on-campus courses and distance learning across the country.
Why the Northeast matters
The Northeast is central to the company’s story and its student base. It is a fast-growing region where access to higher education is still widening.
Strength at home gives the group a base that national rivals cannot easily copy.
How the market may read it
Profit up by roughly a third and revenue up a tenth make a strong headline. Investors will still weigh how much of the gain rests on higher prices.
The reported and adjusted profit lines both climbing is a reassuring sign.
What it means, and what to watch
For now, the company delivered growth on both the top and bottom lines. The number to watch next is whether on-campus demand holds through the second half.
If pricing and enrolment stay firm together, the recovery has room to run.
Frequently Asked Questions
How much did Ser Educacional earn in Q2 2026?
Reported net income was R$106.3 million (about US$20 million), up 30.7% from a year earlier. On an adjusted basis it was R$115.4 million, up 33.3%.
How fast did revenue grow?
Net revenue rose 5.6% to R$622.0 million (roughly US$120 million), led by on-campus operations.
What drove the result?
Growth came mainly from campuses, with the on-campus student base up 4.4% and the average ticket up 5.5% to R$881.86.
What is Ser Educacional?
It is one of Brazil’s largest private higher-education groups, based in Recife and strong across the Northeast.
Sources: InfoMoney, Valor Economico, O Povo; company results and IR (Q2 2026).
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