Core Insights - Lincoln Educational Services Corporation reported strong financial performance for Q4 and the full year 2024, achieving or exceeding all guidance metrics while investing in growth strategies [1][4][15] - The company is focused on providing high-value training to meet the rising demand for educational alternatives to traditional four-year degrees, which is helping to address workforce skills gaps [1][3] Financial Highlights for Q4 2024 - Revenue increased by 16.4% to 119.4million,drivenbya9.66.8 million, with adjusted EBITDA reaching 19.2million[4][25]−Cashflowfromoperationswas30.3 million, and the company ended the year with nearly 60millionincashandnodebt[4][25]FullYear2024FinancialandOperationalHighlights−Totalrevenuefor2024grewby16.4440.1 million, with student starts increasing by 15.2% [4][15] - Adjusted EBITDA for the year was 42.3million,andnetincomewas9.9 million [4][15] - The company maintained strong liquidity with nearly 100millionavailable[4][15]RecentDevelopments−Thecompanycompletedthefirstphaseofitshybridteachingplatform,Lincoln10.0,enhancingoperationalefficienciesandstudentoutcomes[2]−NewcampusopeningsareunderwayinNashville,Levittown,Houston,andHicksville,withNashville′sfirstweldingclassstartingsoon[2][3]−Demandforcoreprogramsisatanall−timehigh,withexpectationstoachieveapproximately550 million in revenue and 90millioninadjustedEBITDAby2027[3]SegmentResults−CampusOperationsSegmentrevenueincreasedby17.2117.7 million, with adjusted EBITDA rising by 18.8% to 30.7million[7][36]−TheTransitionalSegmentsawarevenuedecreaseof20.61.7 million, attributed to the sale of the Summerlin, Las Vegas campus [9][15] 2025 Guidance - The company anticipates revenue between 480millionand490 million for 2025, with adjusted EBITDA expected to be between 55millionand60 million [16][44] - Student starts are projected to grow by 8% to 12% in 2025, despite a planned timing shift affecting approximately 2,300 starts [17][16]
