Core Insights - Profusa, Inc. is set to present findings from its pilot clinical study on Lumee technology for tissue oxygen monitoring in peripheral artery disease (PAD) patients at the Leipzig Interventional Course (LINC) 2026 [1][2] - The Lumee technology allows for continuous, real-time measurement of tissue oxygen, intended for both clinical and home use, with positive feedback received from the U.S.-based clinical study [2][3] - Profusa aims to provide personalized biochemical signatures through its long-lasting, injectable biosensors and intelligent data platform, enhancing the reliability of medical data for clinicians [3] Company Overview - Profusa is a commercial stage digital health company based in Berkeley, California, focusing on the development of tissue-integrated sensors that transmit actionable medical-grade data [3] - The company is led by experienced scientific founders and management, supported by a world-class board of directors [3] - Profusa's mission is to create affordable biosensors that provide continuous monitoring of biochemistry, thereby improving patient care and outcomes [3]

Group 1 - The article does not provide any specific content related to a company or industry [1]

Summary of Lincoln Educational Services FY Conference Call Company Overview - **Company**: Lincoln Educational Services (NasdaqGS:LINC) - **Industry**: Vocational and Technical Education - **Market Position**: Largest provider of automotive and skilled trades education east of the Mississippi, typically ranked as the number one or two provider in its markets [3][21] Core Insights and Arguments - **Skills Gap**: There is a significant skills gap in the labor market, exacerbated by the removal of vocational training from high schools, leading to a shortage of skilled tradespeople [2][3] - **Growth Trends**: The company has experienced growth in high single digits to mid-teens since COVID, as more individuals seek alternatives to traditional college education [4][30] - **Business Model**: The business model is profitable with approximately 30% of additional revenue contributing to the bottom line. The company has $5 million in debt, expected to be zero by year-end, primarily due to leases [5][26] - **New Campus Openings**: Lincoln Tech is expanding its footprint with new campuses, including a recently opened campus in Houston and plans for a new campus in Rowlett, Texas, and Hicksville, Long Island [7][8][9] - **Market Demand**: The demand for trades education is increasing, driven by the retirement of baby boomers and the essential nature of trades jobs during COVID [13][17] Financial Performance - **Revenue Growth**: Revenues increased by 25% in the third quarter, with starts growing by 6% [6][26] - **Future Guidance**: The company raised its revenue guidance to a midpoint of $500 million with an EBITDA of around $66 million for the upcoming year [7][9] - **EBITDA Margins**: Anticipated EBITDA margins to increase by about 150 basis points annually over the next three to four years, aiming for high teens margins [26] Strategic Initiatives - **Hybrid Learning Model**: The introduction of a blended learning model (Lincoln 10.0) allows students to complete 30% of their coursework online, enhancing flexibility and efficiency [6][12] - **Focus on Core Programs**: The company is narrowing its focus to seven to eight core programs to enhance quality and market presence [28] - **Acquisition Strategy**: Preference for opening new campuses over acquisitions due to regulatory ease and operational control, although potential acquisitions in specific trades are considered [10][11] Market Dynamics - **Competition**: The company competes with community colleges and other vocational schools, emphasizing its higher graduation and job placement rates [19][20] - **Institutional Ownership**: Approximately 72-73% of the company is owned by institutional investors, with a focus on attracting more institutional interest [38] Additional Considerations - **Regulatory Environment**: The company operates in a highly regulated industry, with a focus on maintaining compliance and quality outcomes to attract students [24][32] - **Student Demographics**: About 70% of students receive Pell Grants, with an average debt of $14,000 upon graduation, translating to manageable monthly payments [45][46] - **Future Outlook**: The company plans to continue expanding its campus network, aiming for two new campuses annually, and is well-positioned to capitalize on the growing demand for skilled trades education [30][31]

Revenue and Income - Revenue increased by $27.0 million, or 23.6%, to $141.4 million, with a 17.2% increase in average student population[7] - Net income for the quarter was $3.8 million, or $0.12 per share, compared to $4.0 million, or $0.13 per share in the prior year[7] - Adjusted EBITDA rose to $16.9 million, reflecting a 65.1% increase[7] - Revenue for the three months ended September 30, 2025, was $141,389,000, representing a 23.5% increase from $114,410,000 in the same period of 2024[23] - Operating income for the nine months ended September 30, 2025, was $12,577,000, compared to $4,248,000 for the same period in 2024, indicating a significant improvement[23] - Net income for the nine months ended September 30, 2025, was $7,298,000, up from $3,057,000 in 2024, reflecting a 138.5% increase[25] - Adjusted EBITDA for the three months ended September 30, 2025, was $16,901,000, up from $10,236,000 in 2024, representing a 65.5% increase[30] - Adjusted net income for the three months ended September 30, 2025, was $6,338,000, compared to $4,091,000 in 2024, marking a 55.0% increase[30] Student Enrollment and Starts - Student starts grew by 3.2%, or 6.0% excluding the Transitional segment, with nine-month student starts up 12.0%, or 15.0% excluding the Transitional segment[7] - The total student population increased by 14.8%, or 17.2% excluding the Transitional segment[15] - The average population in Campus Operations increased by 19.6% to 16,763 students for the three months ended September 30, 2025, compared to 14,011 in 2024[32] - The total number of student starts in Campus Operations for the three months ended September 30, 2025, was 6,445, a 6.0% increase from 6,081 in 2024[32] - Total starts for the three months ended September 30, 2025, increased by 6.0% to 6,445 compared to 6,081 in 2024[34] - For the nine months ended September 30, 2025, total starts increased by 15.0% to 16,976 compared to 14,756 in 2024[34] - The company experienced a 23.4% increase in starts for Transportation and Skilled Trades for the nine months ended September 30, 2025[34] Guidance and Projections - The company raised its full-year 2025 revenue guidance to between $505 million and $510 million[13] - Adjusted EBITDA guidance for 2025 was increased to between $65 million and $67 million[13] - Net income for 2025 is projected at $18,000, with total adjusted net income expected to be $26,300[35] - Adjusted EBITDA guidance for 2025 is projected to be between $65,000 and $67,000[36] Corporate Expenses and Financial Position - Corporate expenses increased to $16.8 million, primarily due to higher salaries and benefits from workforce expansion[12] - Total current assets decreased to $77,332,000 as of September 30, 2025, from $111,252,000 at December 31, 2024[21] - Cash and cash equivalents decreased to $13,480,000 at the end of September 2025, down from $59,273,000 at the beginning of the period[25] - Total liabilities increased to $281,085,000 as of September 30, 2025, compared to $258,292,000 at December 31, 2024[21] - The company reported a provision for credit losses of $42,584,000 for the nine months ended September 30, 2025, compared to $40,823,000 in the same period of 2024[25] - Capital expenditures for the nine months ended September 30, 2025, were $68,127,000, significantly higher than $32,094,000 in 2024[25] - The corporate operating loss for the three months ended September 30, 2025, was $(16,976,000), compared to $(9,044,000) in 2024, indicating an increase in losses of 87.7%[32] Campus Developments - A new campus in Rowlett, Texas, is expected to open in early 2027, complementing the existing Grand Prairie campus[8] - The company completed relocations and program expansions at its Nashville and Levittown campuses during the quarter[4] - New campus and campus relocation costs are estimated at $7,700, including locations in Nashville, Levittown, Houston, and Hicksville[36] Population Trends - Average population for Transportation and Skilled Trades rose by 27.3% to 13,302, while Healthcare and Other Professions decreased by 2.9% to 3,461[34] - End of period population for total increased by 17.2% to 18,244 from 15,563 in the previous year[34] - The average population for total increased by 18.2% to 16,082 for the nine months ended September 30, 2025[34] - The weighted average number of common shares outstanding for the three months ended September 30, 2025, was 31,000,000, compared to 30,682,000 in 2024[23] Retained Earnings - The company reported an increase in retained earnings to $86,467,000 as of September 30, 2025, from $79,170,000 at December 31, 2024[21]

Revenue and Income - Revenue for the three months ended September 30, 2025, was $141,389,000, representing a 23.5% increase from $114,410,000 in the same period of 2024[18] - Operating income for the nine months ended September 30, 2025, was $12,577,000, compared to $4,248,000 for the same period in 2024, indicating a significant improvement[18] - Net income for the three months ended September 30, 2025, was $3,799,000, slightly down from $3,953,000 in the same period of 2024[18] - Net income for the nine months ended September 30, 2025, was $7,298,000, compared to $3,057,000 for the same period in 2024, representing a 138% increase[21] - Total revenues for the three months ended September 30, 2025, amounted to $141.4 million, compared to $114.4 million for the same period in 2024, reflecting a year-over-year increase of approximately 23.5%[45] - For the nine months ended September 30, 2025, total revenues reached $375.4 million, up from $320.7 million in the same period of 2024, representing a growth of about 17.1%[45] Assets and Liabilities - Total current assets decreased to $77,332,000 as of September 30, 2025, from $111,252,000 as of December 31, 2024[14] - Total assets increased to $466,939,000 as of September 30, 2025, compared to $436,556,000 as of December 31, 2024[14] - Total liabilities rose to $281,085,000 as of September 30, 2025, up from $258,292,000 as of December 31, 2024[14] - The company has a total stockholders' equity of $185,854,000 as of September 30, 2025, an increase from $178,264,000 as of December 31, 2024[14] Cash Flow and Investments - Cash flows from operating activities provided $15,803,000 in 2025, contrasting with a cash outflow of $993,000 in 2024[21] - The net cash used in investing activities was $67,633,000 for the nine months ended September 30, 2025, compared to $22,199,000 in 2024[21] - Capital expenditures for the nine months ended September 30, 2025, were $68,127,000, significantly higher than $32,094,000 in 2024[21] Expenses - The company experienced a 20.5% increase in selling, general, and administrative expenses for the three months ended September 30, 2025, totaling $77,811,000 compared to $63,339,000 in 2024[18] - Total costs and expenses for the three months ended September 30, 2025, were $135.104 million, up from $108.588 million in 2024, representing a 24.4% increase[91] - Operating income for the three months ended September 30, 2025, was $6.285 million, compared to $5.822 million in 2024, reflecting an 8% increase[91] Compliance and Regulatory Issues - The company is facing uncertainties regarding compliance with federal laws and regulations, which may impact future operations and funding[12] Campus Expansion - The company opened a new campus in Houston, Texas, in Q3 2025, with additional campuses planned in Hicksville, New York, and Rowlett, Texas, expected to open by the end of 2026 and Q1 2027, respectively[25] Stock and Compensation - The company’s stock-based compensation expense increased to $4,081,000 in 2025 from $3,354,000 in 2024[21] - The Company increased the aggregate number of shares available under the LTIP from 2,000,000 to 4,000,000 shares, approved by shareholders on May 5, 2023[73] - For the three months ended September 30, 2025, the expense related to Restricted Stock Awards was $1.5 million, up from $1.2 million in the same period of 2024, representing a 25% increase[77] - The outstanding Restricted Stock Awards under the LTIP had an aggregate intrinsic value of $18.3 million as of September 30, 2025, compared to $11.5 million in the prior year, indicating a 59.1% increase[77] Credit Losses and Receivables - The company reported a provision for credit losses of $42,584,000 for the nine months ended September 30, 2025, compared to $40,823,000 in 2024[21] - The allowance for credit losses for student receivables increased from $53,811 in 2024 to $65,572 in 2025, reflecting a growth of approximately 21.5%[107] - Write-offs for the same period rose from $32,605 in 2024 to $33,866 in 2025, representing an increase of approximately 3.9%[107] - The ending balance of student receivables at the end of the period was $74,290 in 2025, up from $62,029 in 2024, marking an increase of about 19.7%[109] Lease Obligations - The Company entered into one new operating lease during the nine months ended September 30, 2025, with no lease modifications[52] - Total lease payments as of September 30, 2025, amounted to $235,567,000 for operating leases and $55,991,000 for finance leases[54] - Cash paid for operating leases during the nine months ended September 30, 2025, was $12,509,000, a decrease of 7.1% from $13,465,000 in 2024[52] Financial Reporting and Standards - The company has adopted new accounting standards for segment reporting and income tax disclosures, which will enhance the transparency of financial reporting starting from fiscal years beginning after December 15, 2023[32][34] - The company did not record any interest and penalties expense associated with uncertain tax positions during the nine months ended September 30, 2025, as there were no uncertain tax positions[39] - The company is currently evaluating the impact of new tax legislation enacted on July 4, 2025, but does not expect it to have a material impact on financial results for the current year[40]

Financial Data and Key Metrics Changes - Revenue for Q3 2025 was $141.4 million, an increase of 25.4% year-over-year, driven by strong student start growth [28] - Net income for the quarter was $3.8 million, compared to $4 million in the prior year, while adjusted net income increased to $6.3 million, or $0.20 per diluted share, representing a 54.9% increase [31] - Adjusted EBITDA grew by 65.1% to $16.9 million, up from $10.2 million last year, highlighting operational leverage [30] Business Line Data and Key Metrics Changes - Student starts for the quarter were approximately 6,400, reflecting a 6% growth, primarily in skilled trades, which saw an 11.8% increase in starts [28][29] - Healthcare and Other Professions programs experienced a 13.7% decline in starts, attributed to the discontinuation of smaller non-core programs [29][30] - Average student population grew nearly 20%, with an ending population of about 18,200 compared to 15,600 in the prior year [28] Market Data and Key Metrics Changes - The company opened new campuses in East Point, Georgia, and Houston, Texas, contributing to strong start growth [7][10] - The new Rowlett, Texas campus is expected to open in early 2027, with a capacity for over 1,600 students [11] - The healthcare segment, while facing challenges, is expected to grow with the re-enrollment of students in the Paramus Nursing program starting January 2026 [15][22] Company Strategy and Development Direction - The company is focused on expanding its presence in skilled trades, with plans for new campuses and program expansions [10][12] - The Lincoln 10.0 hybrid teaching platform is enhancing instructional efficiencies and organizational productivity [9][30] - The company aims to achieve $25 million-$30 million in annualized revenue and $7 million-$10 million in EBITDA for new campuses by their fourth year of operation [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the continued demand for skilled trade training, driven by economic factors and government actions impacting student loans [10][20] - The company is optimistic about achieving its revised financial targets for 2027, projecting revenue exceeding $600 million and adjusted EBITDA over $90 million [36][37] - Management noted that the current operating environment has not negatively impacted the business, despite challenges faced by competitors [20][60] Other Important Information - The company is exploring corporate development activities, including acquisitions and joint ventures, to enhance its growth strategy [17] - The focus on high school outreach programs is expected to increase enrollment from high school students [16][24] - The company plans to host an investor analyst day at its new Nashville campus in March 2026 [26] Q&A Session Summary Question: Clarification on 2026 adjusted EBITDA guidance - The adjusted EBITDA guidance for 2025 includes approximately $10 million in pre-opening costs, and the expectation for 2026 is to exceed the $90 million target even without those add-backs [38][39] Question: Drivers of strong performance in Q3 - The strong performance was driven by robust student interest and the success of new campuses and programs, with a forecast of 15%-20% growth in Q4 starts [40][41] Question: Timeline for expanding RN programs - The process to offer RN programs is state-by-state and could take 12 to 48 months, with applications already submitted in several states [42][43] Question: Clarification on 2027 revenue guidance - The new guidance of exceeding $600 million in revenue includes contributions from all announced campuses, including Rowlett [44] Question: Future growth expectations in healthcare - The core healthcare programs, LPN and medical assisting, are expected to continue growing, especially with the reopening of the Paramus campus [45][46] Question: Military enrollment statistics - Currently, military students represent about 5-6% of total enrollment, primarily utilizing GI Bill benefits [58][59]

Core Insights - Lincoln Educational Services Corporation (LINC) reported quarterly earnings of $0.20 per share, exceeding the Zacks Consensus Estimate of $0.12 per share, and showing an increase from $0.13 per share a year ago, resulting in an earnings surprise of +66.67% [1] - The company achieved revenues of $141.39 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 9.32% and up from $114.41 million year-over-year [2] - The stock has gained approximately 12.5% since the beginning of the year, compared to the S&P 500's gain of 14.4% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.43 on revenues of $130.99 million, and for the current fiscal year, it is $0.74 on revenues of $494.3 million [7] - The estimate revisions trend for Lincoln Educational Services was unfavorable prior to the earnings release, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [6] Industry Context - The Schools industry, to which Lincoln Educational Services belongs, is currently ranked in the bottom 29% of over 250 Zacks industries, suggesting potential challenges for stock performance [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

Core Insights - Lincoln Educational reported Q3 CY2025 revenue of $141.4 million, exceeding Wall Street expectations with a year-on-year growth of 23.6% [1][7] - The company's full-year revenue guidance is set at $507.5 million, which is 2.8% above analysts' estimates [1][7] - GAAP profit per share was $0.12, significantly surpassing analysts' consensus of $0.02 [1][7] Company Overview - Lincoln Educational, established in 1946, specializes in providing technical training and career-oriented programs in the United States [4] Revenue Growth - Over the last five years, Lincoln Educational has achieved an annual sales growth rate of 11.6%, which is considered acceptable but below the standards for the consumer discretionary sector [5] - The company has shown an annualized revenue growth of 16.1% over the last two years, indicating positive trends [6] Financial Performance - Revenue of $141.4 million compared to analyst estimates of $131.5 million, representing a 7.5% beat [7] - Adjusted EBITDA was $16.9 million, exceeding analyst estimates of $12.88 million, with a margin of 12% [7] - Free Cash Flow improved to $5.53 million from -$13.76 million in the same quarter last year [7] Student Enrollment - The number of enrolled students reached 18,244, an increase of 2,357 year-on-year [7][8] - The average year-on-year growth of enrolled students over the last two years was 10.8%, which is lower than the revenue growth, indicating improved monetization [8]

Group 1 - The article does not provide any specific content or key points related to a company or industry [1]

Core Insights - Lincoln Educational Services Corporation reported strong financial and operational results for Q3 2025, with significant growth in revenue, student starts, and adjusted EBITDA, prompting an upward revision of the full-year guidance [4][7][9]. Financial Performance - Revenue increased by $27.0 million, or 23.6%, to $141.4 million, with a 25.4% increase when excluding the Transitional segment [7][15]. - Net income for the quarter was $3.8 million, or $0.12 per share, compared to $4.0 million, or $0.13 per share in the previous year [7][26]. - Adjusted EBITDA rose to $16.9 million, reflecting a 65.1% increase [7][16]. - For the nine months ended September 30, 2025, total revenue increased by $54.7 million, or 17.1%, to $375.4 million [16]. Student Metrics - Student starts grew by 3.2%, or 6.0% excluding the Transitional segment, with a nine-month increase of 12.0%, or 15.0% excluding the Transitional segment [7][16]. - Total student population increased by 14.8%, or 17.2% excluding the Transitional segment [7][16]. Campus Development Activity - The company completed relocations and program expansions at its Nashville and Levittown campuses and opened a new campus in Houston, Texas [5][8]. - A new campus in Rowlett, Texas, is expected to open in Q1 2027, complementing the existing Grand Prairie campus [5][8]. - The company continues to evaluate expansion opportunities in underserved U.S. markets [5][6]. Guidance and Future Outlook - The company anticipates ending 2025 with over $500 million in revenue and has raised its 2027 objectives to more than $600 million in revenue and $90 million in adjusted EBITDA [9][17]. - Updated guidance for FY 2025 includes revenue expectations of $505 million to $510 million and adjusted EBITDA of $65 million to $67 million [17].