Financial Data and Key Metrics Changes - Revenue increased by 35.1% year-over-year, reaching $14 million, driven by robust student enrollment and a shift towards higher-margin programs [10][18] - Net income for the quarter was $2.1 million, a 95% increase from $1.1 million in the prior year quarter, with diluted earnings per share rising to $0.21 from $0.11 [12][21] - Operating income increased to $2.7 million from $1.4 million, representing a 93% increase and an operating margin of 19.1% compared to 13.3% in the prior year [21] - Active student population grew by 25.4% year-over-year to 2,539, reflecting the success of the company's programs [12] Business Line Data and Key Metrics Changes - New student starts rose by 23.3% year-over-year, totaling 773, marking the largest enrollment quarter in the company's history [11] - Educational services expense rose to $7.2 million, but as a percentage of revenue, it declined from 55.3% to 51.4% due to operating efficiencies [19] - General and administrative expenses increased to $4 million, yet also declined as a percentage of revenue from 30.4% to 28.3% [20] Market Data and Key Metrics Changes - The company received approvals for new programs, including Dental Assisting, Sterile Processing, Surgical Technology Associate of Applied Science, and Pharmacy Technicians, to be added at the Central Coast College campus [13] - The company continues to expand healthcare-focused programs, aligning with market demand for skilled professionals in critical industries [15] Company Strategy and Development Direction - The company aims to empower students with the skills needed to thrive in their careers while delivering value to shareholders [14] - Strategic partnerships with industry leaders have been strengthened to create externships and job placement opportunities for graduates [17] - The acquisition of Contra Costa Medical Career College is expected to expand student enrollment and revenue, solidifying the company's presence in key markets [18][38] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving record revenue, starts, student population, and earnings, attributing this to operational excellence and strategic partnerships [23] - The company is well-positioned to capitalize on opportunities both within and outside its current California footprint, with ongoing discussions for potential acquisitions [31][42] Other Important Information - The transition to Blackboard Learn Ultra is set to enhance the student learning experience across all campuses [13][30] - The company has cash in excess of $21 million and working capital exceeding $23 million, indicating strong financial health [22] Q&A Session Summary Question: When will Contra Costa close, and what percent will be included in Q2? - The closing date is scheduled for the end of December, and it will not contribute significantly to Q1 results [26] Question: What programs drove the increase in new starts and total enrollment? - The increase was driven by new program offerings, particularly in cardiac, MRI, and RN programs [27] Question: Will the transition to Blackboard be for all campuses? - Yes, the transition will be implemented across all five locations for all programs [30] Question: What are the benefits of the Contra Costa acquisition? - The acquisition will add 14 programs, including high-need programs with limited competition [38] Question: Any challenges faced in the quarter? - Management reported no significant challenges, as all programs were in high demand [40] Question: Is the company ready for another acquisition after Contra Costa? - The company is poised for future acquisitions but will ensure proper execution of the current acquisition first [42]

Revenue Growth - Revenue grew 35.1% to $14.0 million in Q1 2025 compared to $10.4 million in Q1 2024[4][5] Student Metrics - New student starts increased by 23.3% in Q1 2025[4] - Student population increased by 25.4% to 2,539 in Q1 2025 compared to Q1 2024[4] Financial Performance - EBITDA reached $2.7 million and adjusted EBITDA was $2.8 million in Q1 2025[4][9] - Net income for Q1 2025 was $2.1 million, with diluted earnings per share of $0.21[4][6] Expenses - Educational services expenses rose by 25.7% to $7.2 million in Q1 2025[5] - General and administrative expenses increased by 25.7% to $4.0 million in Q1 2025[5] Financial Position - Cash and cash equivalents stood at $21.5 million as of September 30, 2024[6] - Total assets increased to $50.6 million as of September 30, 2024[6] Strategic Plans - Legacy Education plans to expand its education footprint through organic growth, new programs, and accretive acquisitions[10]

LANCASTER, Calif., Nov. 14, 2024 /PRNewswire/ -- Legacy Education Inc. (NYSE American: LGCY), an award-winning, nationally accredited, for-profit post-secondary education company, today announced financial and operating results for the fiscal first quarter ended September 30, 2024.Legacy Education Inc. will host a conference call to discuss its first quarter financial results on Thursday, November 14, 2024 at 4:30 p.m. Eastern time.To access the live webcast of the conference call, please go to the investor ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ to ____ Commission File Number: 001-42283 LEGACY EDUCATION INC. (Exact name of registrant as specified in its charter) | --- | --- | --- | --- | |------------------ ...