Workflow
Legacy Education Inc.(LGCY)
icon
Search documents
Legacy Education Inc.(LGCY) - 2025 Q3 - Quarterly Results
2025-05-15 20:05
Exhibit 99.1 LEGACY EDUCATION INC. ACHIEVES RECORD Q3 WITH 50% REVENUE GROWTH AND SURPASSES 3,000 ENROLLED STUDENTS Lancaster, California, May 15, 2025 (PR Newswire) — Legacy Education Inc. (NYSE American: LGCY), a leading provider of career-focused education and training, today announced financial and operating results for the third fiscal quarter ended March 31, 2025. Legacy Education Inc. will host a conference call to discuss third quarter financial results today, Thursday, May 15, 2025, at 4:30 p.m. Ea ...
Legacy Education Inc.(LGCY) - 2025 Q3 - Quarterly Report
2025-05-15 20:02
Enrollment Statistics - As of March 31, 2025, High Desert Medical College had 2,081 students enrolled in its programs[151]. - Central Coast College had 508 students enrolled in its programs as of March 31, 2025[153]. - Integrity College of Health had 188 students enrolled in its programs as of March 31, 2025[154]. - Contra Costa Medical Career College had 468 students enrolled in its programs as of March 31, 2025[155]. - Enrollment increased by 49.8% from 2,166 to 3,245, supported by a 70.7% increase in starts from 710 to 1,227 in the quarter compared to the prior year, including the acquisition of CCMCC adding 468 students[185]. Acquisitions and Approvals - The acquisition of Contra Costa Medical Career College was completed on December 18, 2024[156]. - CCMCC is currently under a temporary provisional program participation agreement allowing it to continue participating in Title IV Programs[158]. - CCMCC submitted an application for a change of business organization/control/ownership to the California Bureau for Private Postsecondary Education on January 16, 2025[159]. - ACCET reinstated CCMCC's accreditation following the change in ownership on January 15, 2025[159]. - Integrity College of Health received full approval from the California Board of Vocational Nursing and Psychiatric Technicians to offer its Vocational Nursing program on February 7, 2025[154]. - Legacy Education Inc. is in the process of applying for approval for an Associate Degree in Nursing program at Central Coast College[153]. Financial Performance - Revenue for the three months ended March 31, 2025, was approximately $18.6 million, an increase of approximately $6.3 million or 50.7% compared to $12.3 million for the same period in 2024[185]. - Net income for the three months ended March 31, 2025, was approximately $2.8 million, an increase of approximately $1.0 million or 55.5% compared to $1.8 million for the same period in 2024[189]. - Revenue for the nine months ended March 31, 2025, was approximately $46.2 million, an increase of approximately $12.9 million or 39.0% compared to $33.2 million for the same period in 2024[190]. - Net income rose by approximately $2.2 million, or 53.6%, to $6.3 million for the nine months ended March 31, 2025, compared to $4.1 million for the same period in 2024[195]. Expenses - Educational services expense for the three months ended March 31, 2025, was approximately $10.1 million, an increase of approximately $3.6 million or 54.6% compared to $6.5 million for the same period in 2024[186]. - General and administrative expense for the three months ended March 31, 2025, was approximately $4.6 million, an increase of approximately $1.3 million or 39.5% compared to $3.3 million for the same period in 2024[187]. - Educational services expense for the nine months ended March 31, 2025, was approximately $24.8 million, an increase of approximately $7.0 million or 39.3% compared to $17.8 million for the same period in 2024[191]. - General and administrative expenses increased by approximately $3.2 million, or 32.7%, to $12.9 million for the nine months ended March 31, 2025, compared to $9.7 million for the same period in 2024[192]. Cash Flow and Financial Health - Cash and cash equivalents increased to approximately $17.3 million as of March 31, 2025, from $10.4 million as of June 30, 2024[196]. - Net cash provided by operating activities was approximately $4.8 million for the nine months ended March 31, 2025, compared to $2.7 million for the same period in 2024, an increase of approximately $2.1 million[200]. - Net cash used in investing activities increased by approximately $6.5 million to $6.9 million for the nine months ended March 31, 2025, primarily due to the acquisition of CCMCC for $6.1 million[201]. - Net cash provided by financing activities was approximately $9.1 million for the nine months ended March 31, 2025, compared to a net cash used of approximately $0.2 million for the same period in 2024, an increase of approximately $8.9 million[202]. - A significant portion of revenue is derived from student tuition payments funded by Title IV Programs, affecting operating cash flow based on disbursement timing[198]. - The company satisfied the composite score requirement of the financial responsibility test to participate in Title IV Programs[199].
Legacy Education Inc. (LGCY) to Participate in the Ladenburg Thalmann Technology Innovation EXPO25
Prnewswire· 2025-05-13 13:00
CEO, LeeAnn Rohmann, and CFO, Brandon Pope, will be available for one-on-one meetings throughout the event. During these meetings, management will provide an overview of the Company. For more information, on the Ladenburg Thalmann Technology Innovation EXPO25, or to request a one-on-one meeting with Legacy Education's management, please contact a representative of Ladenburg or visit www.b2idigital.com/ladenburg-innovation-expo. LANCASTER, Calif., May 13, 2025 /PRNewswire/ -- Legacy Education Inc. ("Legacy E ...
Legacy Education Inc. Schedules Third Quarter Fiscal Year 2025 Earnings Release and Conference Call
Prnewswire· 2025-05-01 13:00
Company Overview - Legacy Education Inc. is a for-profit post-secondary education company founded in 2009, focused on career-oriented education primarily in the healthcare field [3] - The company offers a variety of programs including certificates and degrees in nursing, sonography, medical technicians, and dental assisting, among others [3] - Legacy Education aims to provide high-quality, accessible, and affordable education, with a commitment to growth through organic enrollment, new program additions, and strategic acquisitions [3] Financial Results Announcement - Legacy Education will host a conference call to discuss its third quarter financial results on May 15, 2025, at 4:30 p.m. Eastern time [1] - A news release detailing the financial results will be issued at 4:05 p.m. Eastern time on the same day [1] Conference Call Access - Participants can access the live webcast of the conference call through the investor relations section of the Legacy Education website [2] - Registration for the teleconference is required, and participants are encouraged to register at least one day in advance or 15 minutes before the call [2] - An archived version of the webcast will be available for 90 days post-event [2]
Legacy Education Announces Formation of Advisory Board to Support Strategic Growth and Industry Expansion
Prnewswire· 2025-04-29 13:30
Core Insights - Legacy Education Inc. has established an Advisory Board to guide its strategic direction as it seeks to expand its national presence and program offerings [1][2] - The Advisory Board will provide advice on mergers and acquisitions, clinical site expansion, strategic partnerships, and public policy initiatives [2] Company Overview - Legacy Education is a nationally accredited, for-profit post-secondary education provider founded in 2009, focusing on career-oriented education primarily in the healthcare sector [6] - The company offers a variety of programs including nursing, medical technicians, dental assisting, and business administration, aiming to provide accessible and affordable education [6] Advisory Board Members - Robert deRose brings over 50 years of experience in finance and education, having led multiple company sales to Fortune 500 firms [3] - Tim Lehmann has over 40 years of experience in higher education, specializing in distance education and financing [4] - Mike Murphy has 40 years of experience in integrated healthcare delivery and has served as President and CEO of a Malcolm Baldrige Award-winning institution [5]
Legacy Education Inc. (LGCY) to Participate in the 37th Annual ROTH Conference
Prnewswire· 2025-03-10 19:30
Company Overview - Legacy Education Inc. is a leading provider of career-focused education and training, primarily in the healthcare field, offering certificates and degrees in various disciplines such as nursing, medical technicians, and dental assisting [3] - The company was founded in 2009 and is nationally accredited, focusing on providing high-quality, accessible, and affordable education [3] - Legacy Education aims to grow its educational footprint through organic enrollment growth, the addition of new programs, and accretive acquisitions [3] Conference Participation - Legacy Education will participate in the 37th Annual ROTH Conference from March 16-18, 2025, at The Laguna Cliffs Marriott in Dana Point, California, which connects growth-oriented companies with investors and industry leaders [1] - The CEO, LeeAnn Rohmann, and CFO, Brandon Pope, will hold one-on-one and small group meetings with institutional investors during the event to provide an overview of the company [2]
Legacy Education Inc.(LGCY) - 2025 Q2 - Earnings Call Transcript
2025-02-14 03:00
Financial Data and Key Metrics Changes - Revenue for Q2 2025 increased by 29.2% year-over-year to $13.6 million, driven by enrollment growth and expansion in high-demand health care programs [11][23] - Net income reached $1.4 million, reflecting an 8.5% growth year-over-year [23] - EBITDA was reported at $1.8 million, a 3.6% increase year-over-year, while adjusted EBITDA was $1.9 million, showing a 10.1% growth year-over-year [23] - For the six months ended December 31, 2024, revenue totaled $27.6 million, a 32.1% growth year-over-year, with net income at $3.5 million, representing a 47.9% increase year-over-year [24] Business Line Data and Key Metrics Changes - The student population grew by 44.8% year-over-year to 2,768 students, fueled by strong enrollments and the acquisition of Contra Costa Medical Career College [12][10] - New student starts increased by 3%, reflecting strong market demand and improved outreach strategies [11] Market Data and Key Metrics Changes - The company continues to expand its health care program offerings, including new programs such as Surgical Technology, Sterile Processing, Pharmacy Technician, and Dental Assistant [13] - The integration of Contra Costa Medical Career College added 14 new programs to the existing portfolio, enhancing market opportunities [18][45] Company Strategy and Development Direction - The company is focused on enrollment growth, expanding marketing reach, and launching additional health care and technical programs aligned with industry demand [26] - Legacy Education is exploring selective acquisitions to enhance its educational portfolio and geographic footprint [18][26] - The company remains confident in its standing despite regulatory scrutiny in the for-profit education sector, focusing on high-demand allied health programs [19][27] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism regarding the current administration's potential regulatory changes, indicating no anticipated challenges for funding current programs [32] - The company is witnessing robust demand for its programs, with leads performing to projections and an expectation for continued growth in Q3 [50][51] Other Important Information - The company successfully executed its emergency preparedness plan during the Los Angeles fires, transitioning students online with minimal disruption [14][15] - Cash reserves stand at $16.9 million, ensuring financial flexibility [24] Q&A Session Summary Question: Effects of the current administration on student support and funding - Management is monitoring discussions within the Department of Education and does not foresee challenges regarding funding for current programs [32] Question: Details on the Surgical Technology program - The Surgical Technology program is a new associate degree offering rolled out at the Salinas campus [35] Question: Insights on the M&A environment - The M&A pipeline remains strong, with many single-owner institutions looking for opportunities to exit the market [38] Question: Stronger than anticipated programs in December quarter - Cardiac Sonography, MRI, and Nursing programs showed particularly strong enrollment [43] Question: Clarification on the integration of Contra Costa Medical Career College - The acquisition added 14 programs to the existing offerings, enhancing the educational portfolio [45] Question: Changes in the acquisition pipeline post-administration change - There has been an increase in the acquisition pipeline as some institutions see this as an opportunistic time to exit [48] Question: Enrollment trends in January and February - Demand for programs remains robust, with leads performing well against projections [50][51]
Legacy Education Inc.(LGCY) - 2025 Q2 - Earnings Call Transcript
2025-02-13 22:30
Legacy Education (LGCY) Q2 2025 Earnings Call February 13, 2025 04:30 PM ET Company Participants Nicole Joseph - SVP of MarketingLeeAnn Rohmann - Founder, CEO & Chair of the BoardMatthew Berry - Finance consultantJeffrey Cohen - MD - Equity Research Conference Call Participants Mike Grondahl - Head of Equity sales, Trading & Research - Senior Research Analyst Operator Good day, and welcome to the Legacy Education, Inc. Second Quarter Fiscal twenty twenty five Earnings Conference Call. Today's call is being ...
Legacy Education Inc.(LGCY) - 2025 Q2 - Quarterly Results
2025-02-13 21:15
Revenue Growth - Revenue increased by 29.2% to $13.6 million for Q2 FY 2025 compared to $10.5 million in Q2 FY 2024[5]. - Revenue for the six months ended December 31, 2024, was $27.6 million, a 32.1% increase from $20.9 million in the prior year[8]. Student Enrollment - Student enrollment reached 2,768, a 44.8% increase from 1,912 in the same quarter last year, supported by a 3.0% increase in new student starts[5][8]. - The acquisition of Contra Costa Medical Career College added approximately 389 students to the enrollment figures[4][8]. Profitability - Net income for Q2 FY 2025 was $1.4 million, with diluted earnings per share of $0.10, compared to $1.3 million and $0.13 in Q2 FY 2024[5][12]. - EBITDA for Q2 FY 2025 was $1.8 million, with adjusted EBITDA of $1.9 million, reflecting strong operational performance[5][12]. Expenses - Educational services expense rose by 35.3% to $7.5 million, driven by increased staffing and instructional costs to support higher enrollments[8]. - General and administrative expenses increased by 32.5% to $4.3 million, primarily due to higher marketing and professional fees[8]. Strategic Focus - The company is focused on scaling programs and investing in innovation to meet the rising demand for skilled healthcare professionals[4]. - Legacy Education aims to continue its growth strategy through organic enrollment growth and strategic acquisitions[13].
Legacy Education Inc. Reports Strong Q2 FY 2025 Growth with 29% Revenue Increase and Record Enrollment
Prnewswire· 2025-02-13 21:01
Core Insights - Legacy Education Inc. reported strong financial results for the second fiscal quarter ended December 31, 2024, with significant growth in revenue and student enrollment [3][5][10] Financial Highlights - Revenue for the quarter increased by 29.2% to approximately $13.6 million compared to $10.5 million in the same quarter of the previous year [5][6] - New student starts rose by 3.0%, contributing to a total student population of 2,768, which is a 44.8% increase from the prior year [5][6] - EBITDA for the quarter was $1.8 million, with adjusted EBITDA at $1.9 million [5][14] - Net income for the quarter was $1.4 million, translating to diluted earnings per share of $0.10 [5][10] Year-to-Date Financial Results - For the six months ended December 31, 2024, revenue grew by 32.1% to approximately $27.6 million from $20.9 million in the same period of the previous year [10] - New student starts increased by 16.2%, with total enrollment reaching 2,768 [10] - Year-to-date net income was $3.5 million, with diluted earnings per share of $0.29 [10][14] Operational Insights - The acquisition of Contra Costa Medical Career College (CCMCC) added 389 students and is expected to enhance the company's growth strategy [3][5] - The company is focused on meeting the rising demand for skilled healthcare professionals through strategic investments in programs and facilities [3][5] Balance Sheet Highlights - As of December 31, 2024, Legacy Education reported total assets of approximately $62.1 million and total stockholders' equity of approximately $36.4 million [11]