Laureate Education, Inc. · NASDAQ:LAUR
Laureate Education — Q1 2025 Earnings Presentation
37 slides from Laureate Education's earnings presentation, May 1, 2025
Slide 1: First Quarter 2025 Earnings Presentation
First Quarter 2025 Earnings Presentation May 1, 2025 ©2025 Laureate Education, Inc.
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
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
Slide 4: Summary Overview
Summary Overview Note: Throughout this presentation amounts may not sum to totals due to rounding ©2025 Laureate Education, Inc. 4
Slide 5: Executive Summary
Executive Summary First quarter Revenue and Adjusted EBITDA ahead of guidance New enrollment intake in-line with expectations, with solid performance across both markets Timing effect: Peru enrollment cycle completed mid-April, past quarter end reporting date New and Total Enrollments increa
Slide 6: Compelling Investment Characteristics
Compelling Investment Characteristics ©2025 Laureate Education, Inc. 6
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
Slide 8: Leading University Portfolio in Mexico & Peru
Leading University Portfolio in Mexico & Peru Enrollment Market QS StarsTM Brand Founded Segment Overall Ratings/Rankings @ 3/31/25 • Ranked Top 5 university in Mexico Premium/ • 5-Stars rated by QS Stars™ in categories of 1960 120,700 Traditional Employability, Inclusiveness, Online Learning & Mexi
Slide 9: Impact Leadership
Impact Leadership For Over 25 years… Our Impact Our Mission… Laureate has been committed to delivering Each year, we measure the effectiveness of our efforts to transform lives By expanding access to higher affordable, high-quality education that and communities. In 2024, we advanced our approach to
Slide 10: Q1 2025 Performance Results
Q1 2025 Performance Results ©2025 Laureate Education, Inc. 10
Slide 11: 2025 First Quarter – Financial Summary
2025 First Quarter – Financial Summary Q1 ’25 Variance Vs. Q1 ’24 Notes ($ in millions) (Enrollments rounded to the Results As Reported Organic/CC1 nearest thousand) • Through Cycle completion (timing adjusted): New Enrollment 94K (2%) (2%) LAUR +7%, Mexico +8%, Peru +6% • Through Cycle completion (
Slide 12: Segment Results
Segment Results ©2025 Laureate Education, Inc. 12
Slide 13: Mexico Segment Results
Mexico Segment Results Variance Vs. Q1 ’25 Notes Q1 ’24 ($ in millions) (Enrollments rounded to the Results Organic/CC1 nearest thousand) • Strong results during secondary intake cycle; primary intake for New Enrollment 44K 8% Mexico will occur in September Total Enrollment 250K 7% • Driven by new e
Slide 14: Peru Segment Results
Peru Segment Results Variance Vs. Q1 ’25 Notes Q1 ’24 ($ in millions) (Enrollments rounded to the Results Organic/CC1 nearest thousand) • Intake cycle impacted by timing of academic calendar New Enrollment 50K (9%) • Through Cycle completion (timing adjusted): +6% • Intake cycle impacted by timing o
Slide 15: Capitalization and Share Count
Capitalization and Share Count ©2025 Laureate Education, Inc. 15
Slide 16: Q1 2025 Capitalization and Return of Capital
Strong Balance Sheet and Cash Accretive Business Model Allow For Continued Return of Capital Q1 2025 ($ in millions) Total Company Capitalization as of 3/31/25 and Return of Gross Debt $115 Capital Less: Cash & Cash Equivalents ($110) Net Debt $5 149M shares outstanding as of March 31st Share Re
Slide 17: Outlook
Outlook ©2025 Laureate Education, Inc. 17
Slide 18: 2025 Updated Outlook
2025 Updated Outlook Operational Changes ($ in millions) Prior FY Mid-Pt FX Current FY 2025 (Enrollments rounded to Low High the nearest thousand) 2025 Outlook Impact Impact Outlook1 Total Enrollment 489K – 495K 2K - 1K - 491K – 495K Revenue $1,545 – $1,570 +$10 - +$5 +$5 $1,560 – $1,575 Adjusted EB
Slide 19: 2025 Outlook – Executive Summary
2025 Outlook – Executive Summary Market dynamics remain favorable for the private sector in Mexico and Peru Strong operating results expected on a constant currency basis Significant FX headwinds anticipated on USD reported results due to weakening of the Mexican Peso Revenue also impacted b
Slide 20: As Reported 2025 USD Outlook Impacted by Weaker FX
As Reported 2025 USD Outlook Impacted by Weaker FX Total Revenue Adjusted EBITDA 0% 6% 1,567M 1,568M 477M (105M) 106M 450M 54M (7%) +7% (27M) +12% (6%) 2024 Actuals FX Impact 1 Operational Growth 2025 Guidance 2024 Actuals FX Impact 1 Operational Growth 2025 Guidance in Constant Currency Midpoint at
Slide 21: Q2 2025 Guidance
Continued Growth Expected During Q2 Q2 2025 ($ in millions) Q2 2025 Outlook1 Guidance Revenue $499 – $504 Adjusted EBITDA $191 – $194 (1) Outlook is based on actual FX rates for April Spot FX rates (local currency per US dollar) of MXN 20.50 & PEN 3.71 for May and June 2025. FX impact may change bas
Slide 22: Change in Academic Calendar in 2025
Change in Academic Calendar in 2025 Changes in academic calendar expected to impact seasonality during 2025 Start of certain classes shifted in both Mexico and Peru to align with updated academic scheduling requirements Expected Intra-Year Changes in Revenue Seasonality Vs. 2024 ($ in millions)
Slide 23: Appendix
Appendix ©2025 Laureate Education, Inc. 23
Slide 24: 2025 First Quarter – Net Income Reconciliation
2025 First Quarter – Net Income Reconciliation Q1 ’25 B / (W) Notes ($ in millions) Reported Vs. Q1 ’24 • Impacted by intra-year timing of Adjusted EBITDA 5 (25) academic calendar (offset in 2H) Depreciation & Amortization (16) 2 Interest Expense, net (1) 2 Other (6) 5 Income Tax (3) 7 Income/(Loss)
Slide 25: 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 - $59 Organic Growth % (excl. Campus Consolidations)
Slide 26: Q2 2025 Guidance Details
Q2 2025 Guidance Details Q2 Guidance ($ in millions) Revenues Adj. EBITDA 2024 Q2 Results As Reported $499 $187 Timing Impact Intra-Year (academic calendar) $8 $7 2024 Q2 Results Adjusted $507 $194 Organic Growth (excl. Campus Consolidations) $35 - $40 $10 - $13 Organic Growth % (excl. Campus Consol
Slide 27: Return of Capital Summary Since 2019
Return of Capital Summary Since 2019 Cash Stock Distributions / ($ 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 March $42 - $42 Cumulative Since 2019 $1,170 $1,734 $2,904 Strong Track Re
Slide 28: 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
Slide 29: Financial Results & Tables
Financial Results & Tables ©2025 Laureate Education, Inc. 29
Slide 30: Financial Tables: Consolidated Statements of Operations
Financial Tables Consolidated Statements of Operations For the three months ended March 31, IN MILLIONS (except per share amounts) 2025 2024 Change Note: May not sum to total due to rounding. Revenues $ 236.2 $ 275.4 $ (39.2) Costs and expenses: Direct costs 238.4 254.0 (15.6) General and administra
Slide 31: Financial Tables: Revenue and Adjusted EBITDA by Segment
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 Constant Constant fluctuations, acquisitions an
Slide 32: Financial Tables: Consolidated Balance Sheets
Financial Tables Consolidated Balance Sheets IN MILLIONS March 31, 2025 December 31, 2024 Change Note: Dollars in millions may not sum to total due Assets to rounding. Cash and cash equivalents $ 109.8 $ 91.4 $ 18.4 Receivables (current), net 47.4 91.8 (44.4) Other current assets 69.9 43.6 26.3 Prop
Slide 33: Financial Tables: Consolidated Statements of Cash Flows
Financial Tables Consolidated Statements of Cash Flows For the three months ended March 31, IN MILLIONS 2025 2024 Change Note: Dollars in millions may not sum to total due Cash flows from operating activities to rounding. Net loss $ (19.6) $ (10.8) $ (8.8) Depreciation and amortization 16.1 18.1 (2.
Slide 34: 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: For the three months ended March 31, (2) Represents non-cash, share-based IN MILLIONS 2025 2024 Change compensation expense pursuant to the provisions of ASC To
Slide 35: 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: (3) Per share amounts on a dilutive basis. For the three months ended March 31, 2025 2024 Note: Dollars in millions, except per share IN MILLIONS, except per share am
Slide 36: 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, 2025 and 2024: Note: Dollars in millions may not sum to total due to rounding. IN MILLIONS 202
Slide 37: ©2025 Laureate Education, Inc.
©2025 Laureate Education, Inc.