Nelnet NNI Business Segments
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Intersegment revenue by Business | ||||||
| Asset Generation and Management | $0— | $0— | $0— | $0— | $0— | |
| Education Technology Services and Payments (ETSP) | $72K+12.5% | $67K+24.1% | $70K+16.7% | $65K+16.1% | $64K+30.6% | |
| Loan Servicing and Systems (LSS) | $5.01M-11.9% | $5.56M-8.5% | $5.31M-2.1% | $5.6M-8.2% | $5.68M-17.5% | |
| Nelnet Bank | $0— | $0— | $0— | $0— | $0— | |
| Revenue by Product | ||||||
| Canada Student Loan Program loan servicing | $11.33M— | —— | —— | —— | $0— | |
| Department of Education loan servicing | $76.12M-12.9% | —— | —— | —— | $87.36M— | |
| Education technology services | $56.11M+0.8% | $34.98M-2.2% | $36.32M+20.8% | $44.48M-5.8% | $55.7M-0.6% | |
| FFELP loan servicing | $2.25M-14.4% | $1.97M-25.5% | $2.04M-30.9% | $2.24M-30.9% | $2.63M-22.1% | |
| Other | $580K+2,048% | $361K+16.5% | $543K-13.4% | $175K-85.6% | $27K-96.8% | |
| Outsourced services | $713K-32.9% | $389K-56.2% | $1.34M-23.8% | $561K-41.3% | $1.06M-10.5% | |
| Payment processing | $55.89M+8.4% | $44.78M+8.9% | $59.48M+6.6% | $37.52M+9.3% | $51.54M+7.8% | |
| Private education and consumer loan servicing | $25.66M+13.1% | $24.75M-0.3% | $24.29M+86.1% | $22.73M+75.4% | $22.7M+79.8% | |
| Software services | $11.76M+68.2% | $11.39M+77.5% | $10.58M+104% | $9.45M+93.7% | $6.99M+54.0% | |
| Tuition payment plan services | $41.86M+4.4% | $32.19M+3.3% | $32.97M+4.1% | $36.01M+5.4% | $40.07M+3.1% |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does Nelnet break its business down?
- Nelnet (NNI) reports intersegment revenue by business across 4 parts — Asset Generation and Management, Education Technology Services and Payments (ETSP), Loan Servicing and Systems (LSS) and Nelnet Bank. Each is extracted from the segment footnotes and tracked over time.
- Where does Nelnet's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in Nelnet's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.