Company Overview - Legacy Education is a nationally accredited, for-profit post-secondary education company[8] - The company focuses on programs in growing industries like allied healthcare, veterinary, and business[10] - Legacy Education operates 4 accredited education institutions with 6 campuses in California, educating 2,768 students as of December 31, 2024[12] Financial Performance - Legacy Education achieved $52.7 million in LTM revenue, representing a 33% year-over-year growth[10] - The company's LTM adjusted EBITDA was $9.9 million, an 87% year-over-year increase[67] - The LTM gross student acquisition cost was $2,000, while the LTM annual revenue per student was $23,000[10, 67] Enrollment and Student Outcomes - The company's student graduation rate was 79% as of March 31, 2024[10] - Legacy Education's NCLEX pass rate was 79% as of June 30, 2024[10, 12] - The average student placement rate is 78%[31] Growth Strategy - Legacy Education plans to grow through organic enrollment growth, new program additions, and accretive acquisitions[10] - The company leverages interactive distance learning (IDL) to increase flexibility and scalability, with 30% to 50% of students enrolled in IDL programs[20, 61] - Legacy Education has a track record of successful campus acquisitions, with approximately 36% of current enrollment attributed to M&A activities[58]
Legacy Education Inc.(LGCY) - 2025 Q2 - Earnings Call Presentation