Business
Lincoln Educational Services Reports First Quarter Financial Results: Double Digit Growth in Revenue and Student Starts, Increased Outlook for Full Year 2025
Conference Call Today at 10 a.m. Eastern Standard Time PARSIPPANY, N.J., May 12, 2025 (GLOBE NEWSWIRE) -- Lincoln Educational Services Corporation (Nasdaq:
About this update from Lincoln Educational Services Corporation
[{"type":"text","content":"Conference Call Today at 10 a.m. Eastern Standard Time\nPARSIPPANY, N.J., May 12, 2025 (GLOBE NEWSWIRE) -- Lincoln Educational Services Corporation (Nasdaq: LINC) today announced financial and operating results for the first quarter ended March 31, 2025, as well as recent business developments. First Quarter 2025 Financial and Operational Highlights Revenue increased by 13.7% to $117.5 millionStudent starts grew by 16.2%, starts increased 20.9% excluding the Transitional segmentQuarter-end student population rose by 15.2%, or 18.3% excluding the Transitional segmentAdjusted EBITDA of $10.6 million, compared to $6.5 millionNet income of $1.9 million, compared to $0.2 million net lossOperating leverage gains across instructional and marketing expensesTotal liquidity of nearly $90 million, with no debt outstanding as of March 31, 20252025 financial guidance raised based on strong first quarter results and current trends A complete listing of Lincoln's non-GAAP measures are described and reconciled to the corresponding GAAP measures at the end of this release. Recent Developments In March, Lincoln successfully completed the transition of all existing programs at its Nashville, Tennessee campus to a new state-of-the-art facility. The new facility is designed for enhanced operational efficiency through Lincoln’s 10.0 hybrid education delivery model and will also accommodate the launch of two additional high-demand programs this year.The Company amended its credit agreement in March, increasing the size of its revolving credit facility from $40 million to $60 million and expanding the accordion feature from $20 million to $25 million. This amendment strengthens Lincoln’s financial flexibility and is available to support the Company’s strategic growth initiatives. “We delivered a strong start to 2025 with exceptional student start growth, double digit revenue growth and a 63% increase in adjusted EBITDA,” said Scott Shaw, President and CEO. “Our growth reflects the continued execution of our expansion strategy, while operational improvements have enhanced the scalability of our platform and improved our profitability. Given our strong first quarter performance and positive momentum, we are raising our full-year guidance.” “New campus development and program replications remain central to our growth. We successfully completed the relocat...