Laureate Education, Inc. · NASDAQ:LAUR

Laureate Education — Q1 2026 Earnings Presentation

38 slides from Laureate Education's earnings presentation, Apr 30, 2026

  1. Slide 1: First Quarter 2026 Earnings Presentation

    First Quarter 2026 Earnings Presentation April 30, 2026 ©2026 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, Adjusted net income, Adjusted EPS, and total debt, net of cash and c

  4. Slide 4: Summary Overview

    Summary Overview Note: Throughout this presentation, amounts may not sum to totals due to rounding. Figures labeled n.m. indicate values that are not meaningful or not applicable. ©2026 Laureate Education, Inc. 4

  5. Slide 5: Executive Summary

    Executive Summary  First quarter Revenue and Adjusted EBITDA ahead of guidance attributable favorable FX and timing items  New enrollment intake in-line with expectations  New and Total Enrollments increased 9% and 6%, respectively, for the intake cycle versus comparable intake period of prior ye

  6. Slide 6: Compelling Investment Characteristics

    Compelling Investment Characteristics ©2026 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 131 million 33 million 164 million Higher Education Students 5,544 2,067 7,611 (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 @ 03/31/26 • Ranked Top 5 university in Mexico Premium/ 1960 128,000 Traditional • 5-Stars rated by QS Stars in categories of Mexico Universidad del Valle de México (UVM) Employa

  9. Slide 9: Delivering Measurable Outcomes for Our Students and Communities

    Delivering Measurable Outcomes for Our Students and Communities Accessible Education. Real Outcomes. Lasting Impact. Expanding Access Payback period Student Outcomes and to Education Economic Mobility 50% ~3 years 9 out of 10 Time required for graduates Graduates employed First-generation of Laureat

  10. Slide 10: Q1 2026 Performance Results

    Q1 2026 Performance Results ©2026 Laureate Education, Inc. 10

  11. Slide 11: 2026 First Quarter – Financial Summary

    2026 First Quarter – Financial Summary Q1 ’26 Variance Vs. Q1 ’25 Notes ($ in millions) Constant (Enrollments rounded to the Results As Reported nearest thousand) Currency1 • Through Cycle completion (timing adjusted): New Enrollment 103K 9% 9% LAUR +9%, Mexico +4%, Peru +13% • Through Cycle complet

  12. Slide 12: Segment Results

    Segment Results ©2026 Laureate Education, Inc. 12

  13. Slide 13: Mexico Segment Results

    Mexico Segment Results Q1 Results Notes ($ in millions) Constant Currency (Enrollments rounded to the nearest Q1 ’26 thousand) Vs. Q1 ’251 • Through Cycle completion (timing adjusted): +4% New Enrollment 45K 2% • Solid results through completion of the secondary intake cycle; primary intake for Mexi

  14. Slide 14: Peru Segment Results

    Peru Segment Results Q1 Results Notes ($ in millions) Constant Currency (Enrollments rounded to the nearest Q1 ’26 thousand) Vs. Q1 ’251 • Through Cycle completion (timing adjusted): +13% New Enrollment 57K 15% • Favorable macro trends and further scaling of working adult online programs Total Enrol

  15. Slide 15: Capitalization and Share Count

    Capitalization and Share Count ©2026 Laureate Education, Inc. 15

  16. Slide 16: Q1 2026 Capitalization and Return of Capital

    Strong Balance Sheet and Cash Accretive Business Model Allow For Continued Return of Capital Q1 2026 ($ in millions) Total Company Capitalization as of 03/31/26 and Return of Gross Debt $217 Capital Less: Cash & Cash Equivalents ($157) Net Debt $60  140M shares outstanding as of March 31st  Share

  17. Slide 17: Outlook

    Outlook ©2026 Laureate Education, Inc. 17

  18. Slide 18: 2026 Updated Outlook

    2026 Updated Outlook ($ in millions, except Adjusted EPS) Prior Current (Enrollments rounded to the nearest 2026 Guidance 2026 Guidance thousand) Outlook Outlook1 Total Enrollment 516K – 521K 516K – 521K Revenue $1,890 – $1,905 $1,890 – $1,905 Adjusted EBITDA $583 – $593 $583 – $593 Adjusted EPS2 $1

  19. Slide 19: 2026 Outlook – Executive Summary

    2026 Outlook – Executive Summary  Continued strong operating results expected in FY 2026  2026 Revenue growth still expected at 11%-12% Vs. 20251 on a USD reported basis, expected to be up 6%-7% on a constant currency basis2 Vs. 2025  2026 Adjusted EBITDA growth still expected at 12%-14% Vs. 2025

  20. Slide 20: Strong Growth Expected for 2026

    Strong Growth Expected for 2026 Total Revenue Adjusted EBITDA +11% 13% 1,897M 588M 106M 42M +6% +8% 90M 27M +5% 519M +5% 1,702M 2025 Actuals FX Impact 1 Operational Growth 2026 Guidance 2025 Actuals FX Impact 1 Operational Growth 2026 Guidance in Constant Currency Midpoint in Constant Currency Midpo

  21. Slide 21: Q2 2026 Guidance

    Q2 Guidance Q2 2026 ($ in millions) Q2 2026 Outlook1 Guidance Revenue $597 – $601 Adjusted EBITDA $239 – $243 (1) Outlook is based on actual FX rates for April and Spot FX rates (local currency per US dollar) of MXN 17.95 & PEN 3.45 for May through June 2026. FX impact may change based on fluctuatio

  22. Slide 22: Change in Academic Calendar in 2026

    Change in Academic Calendar in 2026  Changes in academic calendar and revenue recognition expected to impact seasonality during 2026 Expected Intra-Year Changes in Revenue Seasonality Vs. 2025 ($ in millions) Q1 Q2 Q3 Q4 FY Actual Est. Est. Est. Mexico ($12) - $28 ($16) - Peru $3 - $2 ($5) - Total

  23. Slide 23: Appendix

    Appendix ©2026 Laureate Education, Inc. 23

  24. Slide 24: 2026 First Quarter – Net Income Reconciliation

    2026 First Quarter – Net Income Reconciliation Q1 ’26 B / (W) Notes ($ in millions) Reported Vs. Q1 ’25 • Impacted by ($9M) intra-year timing of Adjusted EBITDA (2) (8) academic calendar • ($3M) increase year-over-year from FX, Depreciation & Amortization (23) (7) plus growth initiatives including c

  25. Slide 25: 2026 Full Year Guidance Details

    2026 Full Year Guidance Details ($ in millions) (Enrollments rounded to the nearest thousand) Total Enrollment Revenues Adj. EBITDA 2025 FY Results As Reported 498K $1,702 $519 Growth 18K - 23K $98 - $113 $37 - $47 Growth % 4% - 5% 6% - 7% 7% - 9% 2026 FY Guidance (Constant Currency) 516K - 521K $1,

  26. Slide 26: First and Second Half 2026 Implied Guidance Details

    First and Second Half 2026 Implied Guidance Details First Half Implied Guidance Second Half Implied Guidance ($ in millions) Revenues Adj. EBITDA Revenues Adj. EBITDA 2025 Results As Reported $760 $219 $942 $300 Timing Impact Intra-Year (academic calendar) ($9) ($9) $9 $9 2025 Results Adjusted $752

  27. Slide 27: Q2 2026 Guidance Details

    Q2 2026 Guidance Details Q2 Guidance ($ in millions) Revenues Adj. EBITDA 2025 Q2 Results As Reported $524 $214 Timing Impact Intra-Year (academic calendar) - - 2025 Q2 Results Adjusted $524 $214 Growth $32 - $36 $9 - $13 Growth % 6% - 7% 4% - 6% 2026 Q2 Guidance (Constant Currency) $556 - $560 $223

  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 $217 - $217 2026 YTD March $105 - $105 Cumulative Since 2019 $1,450 $1,734 $3,

  29. Slide 29: Intra-Year Seasonality Trends

    Intra-Year Seasonality Trends Revenue Seasonality Adjusted EBITDA Seasonality 43% 42% 42% 41% 31% 31% 32% 31% 32% 39% 28% 28% 27% 24% 24% 24% 24% 31% 31% 28% 17% 17% 18% 21% 14% 19% 20% 18% 8% 8% 7% 1% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2022 2023 2024 2025 2022 2023 2024 2025 New Enrollments Seasonality Factor

  30. Slide 30: Financial Results & Tables

    Financial Results & Tables ©2026 Laureate Education, Inc. 30

  31. Slide 31: Financial Tables

    Financial Tables Consolidated Statements of Operations For the three months ended March 31, Note: May not sum to total due to rounding. IN MILLIONS (except per share amounts) 2026 2025 Change Revenues $ 272.6 $ 236.2 $ 36.4 Costs and expenses: Direct costs 289.0 238.4 50.6 General and administrative

  32. Slide 32: Financial Tables

    Financial Tables Revenue and Adjusted EBITDA by segment: Quarter (1) Constant Currency results exclude the period- IN MILLIONS over-period impact from currency fluctuations. Constant Currency is calculated using the change % Change $ Variance Components from prior-period average foreign exchange rat

  33. Slide 33: Financial Tables

    Financial Tables Consolidated Balance Sheets IN MILLIONS March 31, 2026 December 31, 2025 Change Note: Dollars in millions may not sum to total due to rounding. Assets Cash and cash equivalents $ 157.4 $ 146.7 $ 10.7 Receivables (current), net 55.5 134.7 (79.2) Other current assets 57.8 36.9 20.9 Pr

  34. Slide 34: Financial Tables

    Financial Tables Consolidated Statements of Cash Flows For the three months ended March 31, IN MILLIONS 2026 2025 Change Note: Dollars in millions may not sum to total due to rounding. Cash flows from operating activities Net loss $ (21.6) $ (19.6) $ (2.0) Depreciation and amortization 22.6 16.1 6.5

  35. Slide 35: Non-GAAP Reconciliations (1 of 3)

    Financial Tables Non-GAAP Reconciliations (1 of 3) The following table reconciles Net Income to Adjusted EBITDA and Adjusted EBITDA margin: (1) Represents non-cash, share-based For the three months ended March 31, compensation expense pursuant to the provisions IN MILLIONS 2026 2025 Change of ASC To

  36. Slide 36: Non-GAAP Reconciliations (2 of 3)

    Financial Tables Non-GAAP Reconciliations (2 of 3) The following table reconciles Net income to Adjusted net income and Adjusted EPS: (1) Per share amounts on a dilutive basis. Earnings per share is calculated based on income available to common shareholders, which For the three months ended March 3

  37. Slide 37: Non-GAAP Reconciliations (3 of 3)

    Financial Tables Non-GAAP Reconciliations (3 of 3) The following table presents Free cash flow and reconciles Net cash flows from operating activities to Free Cash Flow for the three months ended March 31, 2026 and 2025: Note: Dollars in millions may not sum to total due to rounding. IN MILLIONS 202

  38. Slide 38: ©2026 Laureate Education, Inc.

    ©2026 Laureate Education, Inc.

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