Laureate Education, Inc. · NASDAQ:LAUR

Laureate Education — Q1 2025 Earnings Presentation

37 slides from Laureate Education's earnings presentation, May 1, 2025

  1. Slide 1: First Quarter 2025 Earnings Presentation

    First Quarter 2025 Earnings Presentation May 1, 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  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

  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 @ 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

  9. 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

  10. Slide 10: Q1 2025 Performance Results

    Q1 2025 Performance Results ©2025 Laureate Education, Inc. 10

  11. 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 (

  12. Slide 12: Segment Results

    Segment Results ©2025 Laureate Education, Inc. 12

  13. 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

  14. 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

  15. Slide 15: Capitalization and Share Count

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

  16. 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

  17. Slide 17: Outlook

    Outlook ©2025 Laureate Education, Inc. 17

  18. 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

  19. 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

  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 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

  21. 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

  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 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)

  25. 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)

  26. 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

  27. 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

  28. 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

  29. Slide 29: Financial Results & Tables

    Financial Results & Tables ©2025 Laureate Education, Inc. 29

  30. 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

  31. 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

  32. 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

  33. 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.

  34. 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

  35. 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

  36. 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

  37. Slide 37: ©2025 Laureate Education, Inc.

    ©2025 Laureate Education, Inc.

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