Revenue: As of FY2025 Q3, the actual value is USD 309.28 M.EPS: As of FY2025 Q3, the actual value is USD 2.94, beating the estimate of USD 1.52.EBIT: As of FY2025 Q3, the actual value is USD -61.7 M.<h3>Loan Servicing and Systems Segment</h3><ul><li>Revenue: $151,052 for the three months ended September 30, 2025, compared to $108,175 for the same period in 2024. For the nine months ended September 30, 2025, revenue was $392,517 compared to $344,428 in 2024.</li><li>Operating Expenses: Loan servicing contract fulfillment and acquisition costs were $2,021 for the three months ended September 30, 2025, compared to $196 for the same period in 2024. For the nine months ended September 30, 2025, these costs were $5,500 compared to $392 in 2024.</li></ul><h3>Education Technology Services and Payments Segment</h3><ul><li>Revenue: $129,321 for the three months ended September 30, 2025, compared to $118,179 for the same period in 2024. For the nine months ended September 30, 2025, revenue was $394,836 compared to $378,627 in 2024.</li><li>Operating Expenses: Cost to provide education technology services and payments was $50,363 for the three months ended September 30, 2025, compared to $45,273 for the same period in 2024. For the nine months ended September 30, 2025, these costs were $138,254 compared to $134,106 in 2024.</li></ul><h3>Asset Generation and Management Segment</h3><ul><li>Revenue: Reinsurance premiums earned were $23,165 for the three months ended September 30, 2025, compared to $16,619 for the same period in 2024. For the nine months ended September 30, 2025, premiums were $73,964 compared to $44,250 in 2024.</li><li>Operating Expenses: Reinsurance losses and underwriting expenses were $19,962 for the three months ended September 30, 2025, compared to $16,761 for the same period in 2024. For the nine months ended September 30, 2025, these expenses were $67,836 compared to $39,066 in 2024.</li></ul><h3>Nelnet Bank Segment</h3><ul><li>Revenue: Solar construction revenue was $5,738 for the three months ended September 30, 2025, compared to $19,321 for the same period in 2024. For the nine months ended September 30, 2025, revenue was $10,992 compared to $42,741 in 2024.</li></ul><h3>Cash Flow</h3><ul><li>Operating Cash Flow: Net cash provided by operating activities was $285,370 for the nine months ended September 30, 2025, compared to $482,357 for the same period in 2024.</li><li>Investing Cash Flow: Net cash provided by investing activities was $519,047 for the nine months ended September 30, 2025, compared to $2,077,867 for the same period in 2024.</li><li>Financing Cash Flow: Net cash used in financing activities was - $968,931 for the nine months ended September 30, 2025, compared to - $2,686,900 for the same period in 2024.</li></ul><h3>Future Outlook and Strategy</h3><ul><li>Core Business Focus: Nelnet plans to continue focusing on its core business areas, including loan servicing and education technology services, with a strategic emphasis on expanding its market presence and improving operational efficiencies.</li><li>Non-Core Business: The company is exploring opportunities in solar construction and reinsurance, aiming to diversify its revenue streams and leverage emerging market trends.</li></ul>

Nelnet | 10-Q: FY2025 Q3 Revenue: USD 309.28 M