Short answer
Covista Inc. (CVSA) filed its fiscal 2025 10-K annual report with the SEC on Aug 7, 2025. It reported revenue of $1.8B (+12.9% year over year) and net income of $237M.
- Top risk flagged: Regulatory risk from U.S. Department of Education (ED) Borrower Defense to Repayment rules affecting Title IV loan obligations recovery
FY2025 key financial metrics · XBRL
- Revenue
- $1.8B
- +12.9% YoY
- Net income
- $237M
- +73.3% YoY
- Operating margin
- 19.1%
- +5.4 pp YoY
- EPS (diluted)
- $6.18
- +82.3% YoY
- ROE
- 16.5%
- +6.5 pp YoY
- Operating cash flow
- $338M
- +14.2% YoY
Source: XBRL data from the Covista Inc. (CVSA) FY2025 10-K on SEC EDGAR. USD.
Covista Inc. FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: Provider of postsecondary education with focus on medical and healthcare programs
- Emphasis on regulatory compliance risks impacting Title IV funding and clinical placement limitations for medical schools
- Strategic focus on expansion via campus openings, new programs, and acquisitions despite regulatory and integration challenges
- Goodwill and intangible assets of $961.3M and $765.5M respectively, representing 63% of total assets as of June 30, 2025
- Authorized $150M share repurchase program through 2028 with full authorization still available as of June 2025
Management Discussion & Analysis
- Key risk: potential fines, debt discharge liabilities, or suspension from Title IV programs due to "substantial misrepresentation" claims
- Best/worst segment details not provided; focus on risk of institutional non-compliance with ED regulatory standards
- No cash flow, capital allocation, buybacks, dividends, or capex information given
- Forward-looking risk: enforcement actions or restrictions by ED may materially affect operations, financial condition, and cash flows
Risk Factors
- Regulatory risk from U.S. Department of Education (ED) Borrower Defense to Repayment rules affecting Title IV loan obligations recovery
- Geopolitical exposure to U.S. federal and state investigations, risking Title IV program eligibility restrictions across multiple institutions
- Operational risk from potential loss of accreditation or degree-granting authority due to regulatory non-compliance outcomes
- Competitive threat from adverse publicity and regulatory scrutiny impacting student enrollment relative to other proprietary education providers
- Financial risk from potential large monetary judgments or fines exceeding existing insurance coverage, impacting cash flows and results
Generated from the filing text; verify against the original. How to read a 10-K
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