Core Insights - Legacy Education Inc. reported strong financial and operational results for the fourth quarter and fiscal year ended June 30, 2025, highlighting record enrollment and expanded program offerings [4][7]. Financial Highlights - Total revenue for the fourth quarter increased by $5.2 million, or 40.8%, reaching $17.9 million compared to $12.8 million in the same quarter of the previous year [15]. - For the fiscal year 2025, revenue grew by 39.5% to $64.2 million, up from $46.0 million in fiscal 2024, primarily driven by increased student enrollment and higher pricing for certain programs [7][8]. - New student starts rose by 15.7% in the fourth quarter and 26.9% for the fiscal year [7]. - EBITDA for the fourth quarter increased by 133% to $2.1 million, compared to $0.9 million in the prior year [15]. - The company reported a net income of $1.2 million for the fourth quarter and $7.5 million for the fiscal year, with diluted earnings per share of $0.59 [7][8]. Operational Developments - The student population at the end of the fiscal year was 3,101, representing a 41.8% increase compared to 2024 [7]. - Legacy Education received approval for three new degree programs and two certificate programs, and earned NLN CNEA Initial Accreditation for its RN-BSN Track [7]. - The company appointed two new board members and established an advisory board to support growth and expansion [7]. Expense Overview - General and administrative expenses rose by 48.2% to $19.3 million in fiscal 2025, primarily due to increased marketing expenses, professional fees, and bad debt expense [7][8]. - Educational services expenses increased by 29.5% to $34.2 million, reflecting the need for additional instructional and staffing resources to support enrollment growth [7].
Legacy Education Reports Strong Fiscal 2025 Results with 40% Revenue Growth and Record Enrollment