Laureate Education, Inc. · NASDAQ:LAUR

Laureate Education — Q2 2025 Earnings Presentation

40 slides from Laureate Education's earnings presentation, Jul 31, 2025

  1. Slide 1: Second Quarter 2025 Earnings Presentation

    Second Quarter 2025 Earnings Presentation July 31, 2025 ©2025 Laureate Education, Inc.

  2. Slide 2: Forward Looking Statements

    Forward Looking Statements This presentation includes statements that express Laureate’s opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results and therefore are, or may be deemed to be, ‘‘forward-looking statements’’ within the meani

  3. Slide 3: Presentation of Non-GAAP Measures

    Presentation of Non-GAAP Measures In addition to the results provided in accordance with U.S. generally accepted accounting principles (GAAP) throughout this presentation, Laureate provides the non-GAAP measures of Adjusted EBITDA and its related margin, Adjusted net income, Adjusted Earnings Per Sh

  4. Slide 4: Summary Overview

    Summary Overview Note: Throughout this presentation amounts may not sum to totals due to rounding ©2025 Laureate Education, Inc. 4

  5. Slide 5: Executive Summary

    Executive Summary  Second quarter Revenue and Adjusted EBITDA ahead of guidance driven by favorable FX and timing of expenses  Year-to-date New and Total Enrollments increased 7% and 6%, respectively, versus year-to- date prior year  Mexico: New Enrollments grew 6%; Total Enrollments +7%  Peru:

  6. Slide 6: Compelling Investment Characteristics

    Compelling Investment Characteristics ©2025 Laureate Education, Inc. 6

  7. Slide 7: Attractive Market Opportunities in Mexico and Peru

    Attractive Market Opportunities in Mexico and Peru Attractive Markets with Significant Growth Opportunities Participation rates growing and still well below developed markets Mexico Peru Combined Population 130 million 32 million 162 million Higher Education Students 5,518 2,042 7,560 (000s) Higher

  8. Slide 8: Leading University Portfolio in Mexico & Peru

    Leading University Portfolio in Mexico & Peru Enrollment Market QS StarsTM Brand Founded Segment Overall Ratings/Rankings @ 6/30/25 • Ranked Top 5 university in Mexico Premium/ • 5-Stars rated by QS Stars in categories of 1960 116,800 Traditional Employability, Inclusiveness, Online Learning & Mexic

  9. Slide 9: Q2 & YTD 2025 Performance Results

    Q2 & YTD 2025 Performance Results ©2025 Laureate Education, Inc. 9

  10. Slide 10: 2025 Second Quarter – Financial Summary

    2025 Second Quarter – Financial Summary Q2 ’25 Variance Vs. Q2 ’24 Notes ($ in millions) (Enrollments rounded to the Results As Reported Organic/CC1 nearest thousand) • Favorably impacted by timing of Peru’s secondary intake New Enrollment 35K 42% 42% which was completed in April • Mexico +7%, Peru

  11. Slide 11: 2025 Q2 YTD – Financial Summary

    2025 Q2 YTD – Financial Summary Q2 YTD ’25 Variance Vs. Q2 YTD ’24 Notes ($ in millions) (Enrollments rounded to the Results As Reported Organic/CC1 nearest thousand) New Enrollment 129K 7% 7% • Mexico: +6%, Peru: +8% • Mexico +7%, Peru +6% Total Enrollment 472K 6% 6% • Driven by new enrollment grow

  12. Slide 12: Segment Results

    Segment Results ©2025 Laureate Education, Inc. 12

  13. Slide 13: Mexico Segment Results

    Mexico Segment Results Q2 Results Q2 YTD Results Notes ($ in millions) Organic/CC Vs. Organic/CC Vs. (Enrollments rounded to Q2 ’25 Q2 YTD ’25 the nearest thousand) Q2 ’24 1 Q2 YTD ’24 1 New Enrollment 21K 4% 66K 6% • Primary intake will occur in September • Driven by new enrollments and stronger To

  14. Slide 14: Peru Segment Results

    Peru Segment Results Q2 Results Q2 YTD Results Notes ($ in millions) Organic/CC Vs. Organic/CC Vs. (Enrollments rounded to Q2 ’25 Q2 YTD ’25 the nearest thousand) Q2 ’24 1 Q2 YTD ’24 1 New Enrollment 14K 232% 63K 8% • Strong primary intake completed in April Total Enrollment 234K 6% 234K 6% • Growth

  15. Slide 15: Capitalization and Share Count

    Capitalization and Share Count ©2025 Laureate Education, Inc. 15

  16. Slide 16: Q2 2025 Capitalization and Return of Capital

    Strong Balance Sheet and Cash Accretive Business Model Allow For Continued Return of Capital Q2 2025 ($ in millions) Total Company Capitalization as of 6/30/25 and Return of Cash & Cash Equivalents $135 Capital Less: Gross Debt ($116) Net Cash $19  147M shares outstanding as of June 30th  Share Re

  17. Slide 17: Outlook

    Outlook ©2025 Laureate Education, Inc. 17

  18. Slide 18: 2025 Outlook – Executive Summary

    2025 Outlook – Executive Summary  Market dynamics remain favorable for the private sector in Mexico and Peru  Strong operating results expected on a constant currency basis  FX headwinds anticipated on USD reported results due to weakening of the Mexican Peso  Revenue also impacted by campus con

  19. Slide 19: 2025 Updated Outlook

    2025 Updated Outlook ($ in millions) Prior FY Operational FX Current FY 2025 (Enrollments rounded to the nearest thousand) 2025 Outlook Change Impact Outlook1 Total Enrollment 491K – 495K - - 491K – 495K Revenue $1,560 – $1,575 - +$55 $1,615 – $1,630 Adjusted EBITDA $473 – $480 - +$16 $489 – $496 In

  20. Slide 20: As Reported 2025 USD Outlook Impacted by Weaker FX

    As Reported 2025 USD Outlook Impacted by Weaker FX Total Revenue Adjusted EBITDA 4% 9% 1,622M 493M 53M 1,567M 106M 450M +12% (50M) +7% (11M) (3%) (3%) 2024 Actuals FX Impact 1 Operational Growth 2025 Guidance 2024 Actuals FX Impact 1 Operational Growth 2025 Guidance in Constant Currency Midpoint at

  21. Slide 21: Q3 2025 Guidance

    Q3 2025 ($ in millions) Q3 2025 Outlook1 Guidance Revenue $375 – $379 Adjusted EBITDA $78 – $82 (1) Outlook is based on actual FX rates for July and assumed FX rates (local currency per US dollar) of MXN 19.13 & PEN 3.62 for August through September 2025. FX impact may change based on fluctuations i

  22. Slide 22: Change in Academic Calendar in 2025

    Change in Academic Calendar in 2025  Changes in academic calendar expected to impact seasonality during 2025  Start of certain classes shifted in both Mexico and Peru to align with updated academic scheduling requirements Expected Intra-Year Changes in Revenue Seasonality Vs. 2024 ($ in millions)

  23. Slide 23: Appendix

    Appendix ©2025 Laureate Education, Inc. 23

  24. Slide 24: 2025 Second Quarter – Net Income Reconciliation

    2025 Second Quarter – Net Income Reconciliation Q2 ’25 B / (W) Notes ($ in millions) Reported Vs. Q2 ’24 • Includes $7M academic calendar timing Adjusted EBITDA 214 28 benefit Depreciation & Amortization (18) (0) Interest Expense, net (2) 1 • Mainly non-cash FX translation on Other (28) (53) interco

  25. Slide 25: 2025 Q2 YTD – Net Income Reconciliation

    2025 Q2 YTD – Net Income Reconciliation Q2 YTD ’25 B / (W) Notes ($ in millions) Reported Vs. Q2 YTD ’24 • Impacted by ($16M) intra-year timing of Adjusted EBITDA 220 2 academic calendar; offset in 2H Depreciation & Amortization (34) 2 Interest Expense, net (3) 3 • Mainly non-cash FX translation on

  26. Slide 26: 2025 Full Year Guidance Details

    2025 Full Year Guidance Details ($ in millions) (Enrollments rounded to the nearest thousand) Total Enrollment Revenues Adj. EBITDA 2024 FY Results As Reported 472K $1,567 $450 Organic Growth (excl. Campus Consolidations) 22K - 26K $106 - $121 $52 - $59 Organic Growth % (excl. Campus Consolidations)

  27. Slide 27: Q3 2025 Guidance Details

    Q3 2025 Guidance Details Q3 Guidance ($ in millions) Revenues Adj. EBITDA 2024 Q3 Results As Reported $369 $91 Timing Impact Intra-Year (academic calendar) ($7) ($5) 2024 Q3 Results Adjusted $361 $86 Organic Growth (excl. Campus Consolidations) $16 - $20 ($7) - ($3) Organic Growth % (excl. Campus Co

  28. Slide 28: Return of Capital Summary Since 2019

    Return of Capital Summary Since 2019 Cash Stock Distributions / ($ in millions) Buybacks Dividends Total 2019 $264 - $264 2020 $100 - $100 2021 $380 $1,375 $1,755 2022 $282 $249 $531 2023 - $110 $110 2024 $102 - $102 2025 YTD June $71 - $71 Cumulative Since 2019 $1,199 $1,734 $2,933 Strong Track Rec

  29. Slide 29: Intra-Year Seasonality Trends

    Intra-Year Seasonality Trends Revenue Seasonality Adjusted EBITDA Seasonality 42% 43% 42% 42% 32% 30% 31% 31% 27% 28% 28% 27% 25% 24% 24% 24% 30% 31% 31% 28% 18% 17% 17% 18% 24% 21% 19% 20% 8% 8% 7% 4% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2021 2022 2023 2024 2021 2022 2023 2024 New Enrollments Seasonality Factor

  30. Slide 30: Financial Results & Tables

    Financial Results & Tables ©2025 Laureate Education, Inc. 30

  31. Slide 31: Financial Tables

    Financial Tables Consolidated Statements of Operations For the three months ended June 30, For the six months ended June 30, IN MILLIONS (except per share amounts) 2025 2024 Change 2025 2024 Change Note: May not sum to total due to rounding. Revenues $ 524.2 $ 499.2 $ 25.0 $ 760.3 $ 774.6 $ (14.3) C

  32. Slide 32: Financial Tables

    Financial Tables Revenue and Adjusted EBITDA by segment: Quarter IN MILLIONS nm - percentage changes not meaningful % Change $ Variance Components (1) Organic Constant Currency results exclude the Organic Organic period-over-period impact from currency For the three months ended Constant Constant fl

  33. Slide 33: Financial Tables

    Financial Tables Revenue and Adjusted EBITDA by segment: Year-to-Date IN MILLIONS nm - percentage changes not meaningful % Change $ Variance Components (1) Organic Constant Currency results exclude the Organic Organic period-over-period impact from currency Constant Constant fluctuations, acquisitio

  34. Slide 34: Financial Tables

    Financial Tables Consolidated Balance Sheets IN MILLIONS June 30, 2025 December 31, 2024 Change Note: Dollars in millions may not sum to total due Assets to rounding. Cash and cash equivalents $ 135.3 $ 91.4 $ 43.9 Receivables (current), net 145.9 91.8 54.1 Other current assets 40.8 43.6 (2.8) Prope

  35. Slide 35: Financial Tables

    Financial Tables Consolidated Statements of Cash Flows For the six months ended June 30, IN MILLIONS 2025 2024 Change Note: Dollars in millions may not sum to total due Cash flows from operating activities to rounding. Net income $ 77.9 $ 117.5 $ (39.6) Depreciation and amortization 33.7 35.5 (1.8)

  36. Slide 36: Financial Tables

    Financial Tables Non-GAAP Reconciliations (1 of 4) The following table reconciles Net Income to Adjusted EBITDA and Adjusted EBITDA margin: For the three months ended June 30, For the six months ended June 30, (2) Represents non-cash, share-based compensation expense pursuant to the provisions IN MI

  37. Slide 37: Financial Tables

    Financial Tables Non-GAAP Reconciliations (2 of 4) The following table reconciles Net income to Adjusted net income and Adjusted EPS: (3) Per share amounts on a dilutive basis. For the three months ended June 30, Earnings per share is calculated based on income available to common shareholders, whic

  38. Slide 38: Financial Tables

    Financial Tables Non-GAAP Reconciliations (3 of 4) The following table reconciles Net income to Adjusted net income and Adjusted EPS: (3) Per share amounts on a dilutive basis. For the six months ended June 30, Earnings per share is calculated based on income available to common shareholders, which

  39. Slide 39: Financial Tables

    Financial Tables Non-GAAP Reconciliations (4 of 4) The following table presents Free cash flow and reconciles Net cash flows from operating activities to Free Cash Flow for the six months ended June 30, 2025 and 2024: Note: Dollars in millions may not sum to total due to rounding. IN MILLIONS 2025 2

  40. Slide 40: ©2025 Laureate Education, Inc.

    ©2025 Laureate Education, Inc.

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