22 slides from Universal Technical Institute's earnings presentation, May 7, 2025
Slide 1: Universal Technical Institute, Inc. Q2 2025 Financial Supplement
Universal Technical Institute, Inc. Q2 2025 Financial Supplement
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the safe harbor from civil liability provided for such statements by the Private Securities Litigation Reform Act of 1995 (set forth in Section 27A of the Securities Act of 1933, as amended, and Se
Slide 3: Consolidated Q2 2025 Highlights
Consolidated Q2 2025 Highlights Q2 2025 Revenue $207.4 million Net Income $11.4 million Adjusted EBITDA $28.9 million Diluted Earnings Per Share $0.21 PAGE 3 ■ Delivered Q2 results that exceeded expectations for all key metrics. ■ New student starts of 6,650 representing 21.4% growth versus the prio
Slide 4: Q2 2025 Summary Results
Consolidated Q2 2025 Summary Results ($ in millions) ($ in millions, except for student data) 3 Mos. 3/31/25 3 Mos. 3/31/24 YoY Change 6 Mos. 3/31/25 6 Mos. 3/31/24 YoY Change Revenues $207.4 $184.2 12.6% $408.9 $358.9 13.9% Operating expenses $190.6 $173.0 10.2% $364.5 $333.4 9.3% Educational servi
Slide 5: Statements of Operations Trend
Consolidated Statements of Operations Trend ($ in thousands, except EPS) 3 Mos. 3/31/25 3 Mos. 12/31/24 12 Mos. 9/30/24 3 Mos. 9/30/24 3 Mos. 6/30/24 3 Mos. 3/31/24 3 Mos. 12/31/23 12 Mos. 9/30/23(1) Revenues $ 207,447 $ 201,429 $ 732,687 $ 196,358 $ 177,458 $ 184,176 $ 174,695 $ 607,408 Operating e
Slide 6: Results of Operations Trend Percent of Revenue
Consolidated Results of Operations Trend Percent of Revenue 3 Mos. 3 Mos. 12 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 12 Mos. 3/31/25 12/31/24 9/30/24 9/30/24 6/30/24 3/31/24 12/31/23 9/30/23(1) Revenues 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% Operating Expenses: Educational services and fac
Slide 7: Quarterly Trend – Segment Key Metrics
Quarterly Trend – Segment Key Metrics ($ in millions, except revenue per student amounts) ($ in millions, except for student data) 3 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 3/31/25 12/31/24 9/30/24 6/30/24 3/31/24 3/31/25 12/31/24 9/30/24 6/30/24 3/31/24 UTI UTI UTI UTI U
Slide 8: Segment Results: Second Quarter
3 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 3/31/25 3/31/25 3/31/25 3/31/25 3/31/24 3/31/24 3/31/24 3/31/24 UTI Concorde Corporate Consolidated UTI Concorde Corporate Consolidated Revenues $ 134,228 $ 73,219 $ — $ 207,447 $ 123,323 $ 60,853 $ — $ 184,176 Educational services and faciliti
Slide 9: Segment Results: Year-to-Date
6 Mos. 6 Mos. 6 Mos. 6 Mos. 6 Mos. 6 Mos. 6 Mos. 6 Mos. 3/31/25 3/31/25 3/31/25 3/31/25 3/31/24 3/31/24 3/31/24 3/31/24 UTI Concorde Corporate Consolidated UTI Concorde Corporate Consolidated Revenues $ 265,706 $ 143,170 $ — $ 408,876 $ 238,697 $ 120,174 $ — $ 358,871 Educational services and facili
Slide 10: Segment Expense Details: Second Quarter
Segment Expense Details: Second Quarter ($ in thousands) 3 Mos. % of 3 Mos. % of 3 Mos. % of 3 Mos. % of 03/31/2025 Segment 03/31/2025 Segment 03/31/2025 Consolidated 03/31/2025 Consolidated UTI Revenue Concorde Revenue Corporate Revenue Consolidated Revenue EDUCATIONAL SERVICES AND FACILITIES EXPEN
Slide 11: Segment Expense Details: Year-to-Date
Segment Expense Details: Year-to-Date ($ in thousands) 6 Mos. % of 6 Mos. % of 6 Mos. % of 6 Mos. % of 03/31/2025 Segment 03/31/2025 Segment 03/31/2025 Consolidated 03/31/2025 Consolidated UTI Revenue Concorde Revenue Corporate Revenue Consolidated Revenue EDUCATIONAL SERVICES AND FACILITIES EXPENSE
Slide 12: New Student Starts Details
New Student Starts Details 3 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 Total Consolidated Total New Student Starts 6,650 5,313 11,492 5,567 5,480 4,346 Y/Y growth/(decline) 21.4% 22.3% 10.6% 5.0% 18.5% 89.4% UTI Segment Total New Student St
Slide 13: Balance Sheet and Cash Flow Summary
Consolidated Balance Sheet and Cash Flow Summary ($ in thousands) At: 3/31/25 9/30/24 Cash & cash equivalents $ 95,998 $ 161,900 Restricted cash 4,515 5,572 Held-to-maturity investments 39,691 — Total current assets 198,452 221,951 PP&E (net) 263,716 264,797 Right-of-use assets for operating leases
Slide 14: Earnings Per Share Trend and Guidance
Earnings Per Share Trend and Guidance ($ in thousands, except EPS) Guidance Actual Actual Actual Actual Actual Actual Actual Fiscal 2025 Midpoint 3 Mos. 3/31/2025 3 Mos. 12/31/24 12 Mos. 9/30/24 3 Mos. 9/30/24 3 Mos. 6/30/24 3 Mos. 3/31/24 3 Mos. 12/31/23 Net Income ~$56,000-60,000 $ 11,446 $ 22,153
Slide 15: Leverage as of 3/31/2025
Leverage as of 3/31/2025 Current Loan Balances $94.4M LTM EBITDA $120.1M Cash & Cash Equivalents and Short-Term Investments $135.7M Gross Leverage Ratio 0.79x Net Leverage Ratio (0.34)x Debt as of 3/31/2025 Term Loan: Avondale Campus Original Note Amount $31.2M Inception Date 5/12/2021 Rate* Fixed/F
Slide 16: Use of Non-GAAP Financial Information
Use of Non-GAAP Financial Information PAGE 16 In addition to disclosing financial results that are determined in accordance with U.S. generally accepted accounting principles ("GAAP"), the Company also discloses certain non-GAAP financial information. These financial measures are not recognized meas
Slide 17: Adjusted EBITDA Reconciliation Trend: Quarter-to-Date
Consolidated Adjusted EBITDA Reconciliation Trend ($ in thousands) QUARTER-TO-DATE 3 Mos. 3/31/25 3 Mos. 12/31/24 12 Mos. 9/30/24 3 Mos. 9/30/24 3 Mos. 6/30/24 3 Mos. 3/31/24 3 Mos. 12/31/23 12 Mos. 9/30/23(7) Net income, as reported $ 11,446 $ 22,153 $ 42,001 $ 18,840 $ 4,985 $ 7,787 $ 10,389 $ 12,
Slide 18: Adjusted EBITDA Reconciliation Trend: Year-to-Date
Consolidated Adjusted EBITDA Reconciliation Trend ($ in thousands) YEAR-TO-DATE 6 Mos. 3/31/25 3 Mos. 12/31/24 12 Mos. 9/30/24 9 Mos. 6/30/24 6 Mos. 3/3124(9) 3 Mos. 12/31/23 12 Mos. 9/30/23(7) Net income, as reported(1) $ 33,599 $ 22,153 $ 42,001 $ 23,161 $ 18,176 $ 10,389 $ 12,322 Interest expense
Slide 19: Adjusted EBITDA Reconciliation By Segment
Adjusted EBITDA Reconciliation By Segment ($ in thousands) QUARTER-TO-DATE 3 Mos. 3/31/25 3 Mos. 3/31/24 3 Mos. 3/31/25 3 Mos. 3/31/24 3 Mos. 3/31/25 3 Mos. 3/31/24 3 Mos. 12/31/23 UTI UTI Concorde Concorde Corporate Corporate Corporate Net income (loss), as reported $ 20,179 $ 16,616 $ 8,837 $ 3,32
Slide 20: Adjusted EBITDA Reconciliation By Segment (footnotes)
Adjusted EBITDA Reconciliation By Segment ($ in thousands) PAGE 20 1. Costs related to both announced and potential acquisition targets. 2. During the six months ended March 31, 2025, the Company received $0.7 million in funds in final settlement of the outstanding escrow accounts affiliated with th
Slide 21: Adjusted Free Cash Flow
Consolidated Adjusted Free Cash Flow ($ in thousands) 6 Mos. 3/31/25 6 Mos. 3/31/24 Cash flow provided by operating activities, as reported $22,173 $8,345 Purchase of property and equipment (14,292) (9,759) Free cash flow, non-GAAP $7,881 $(1,414) Adjustments: Cash outflow for acquisition-related co
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