Universal Technical Institute Inc · NYSE:UTI
Universal Technical Institute — Q1 2025 Earnings Presentation
18 slides from Universal Technical Institute's earnings presentation, Feb 5, 2025
Slide 1: Universal Technical Institute, Inc. Q1 2025 Financial Supplement
Universal Technical Institute, Inc. Q1 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: Q1 2025 Highlights
Consolidated Q1 2025 Highlights Q1 2025 Revenue $201.4 million Net Income $22.2 million Adjusted EBITDA $35.5 million Diluted Earnings Per Share $0.40 PAGE 3 ■ Delivered Q1 results that exceeded expectations for all key metrics. ■ New student starts of 5,313 representing 22.3% growth versus the prio
Slide 4: Q1 2025 Summary Results
Consolidated Q1 2025 Summary Results ($ in millions) ($ in millions, except for student data) 3 Mos. 12/31/24 3 Mos. 12/31/23 YoY Change Revenues $201.4 $174.7 15.3% Operating expenses $174.0 $160.5 8.4% Educational services and facilities $100.2 $92.4 8.4% Selling, general and administrative $73.8
Slide 5: Statements of Operations Trend
Consolidated Statements of Operations Trend ($ in thousands, except EPS) 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 $ 201,429 $ 732,687 $ 196,358 $ 177,458 $ 184,176 $ 174,695 $ 607,408 Operating expenses: Educational serv
Slide 6: Results of Operations Trend Percent of Revenue
Consolidated Results of Operations Trend Percent of Revenue 3 Mos. 12 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 12 Mos. 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% Operating Expenses: Educational services and facilities 49.8% 52.5% 50
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. 12/31/24 9/30/24 6/30/24 3/31/24 12/31/23 12/31/24 9/30/24 6/30/24 3/31/24 12/31/23 UTI UTI UTI UTI
Slide 8: Segment Results of Operations
3 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 12/31/24 12/31/24 12/31/24 12/31/24 12/31/23 12/31/23 12/31/23 12/31/23 UTI Concorde Corporate Consolidated UTI Concorde Corporate Consolidated Revenues $ 131,478 $ 69,951 $ — $ 201,429 $ 115,373 $ 59,322 $ — $ 174,695 Educational services and
Slide 9: Segment Expense Details: First Quarter
Segment Expense Details: First Quarter ($ in thousands) 3 Mos. % of 3 Mos. % of 3 Mos. % of 3 Mos. % of 12/31/2024 Segment 12/31/2024 Segment 12/31/2024 Consolidated 12/31/2024 Consolidated UTI Revenue Concorde Revenue Corporate Revenue Consolidated Revenue EDUCATIONAL SERVICES AND FACILITIES EXPENS
Slide 10: New Student Starts Details
New Student Starts Details 3 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 Total Consolidated Total New Student Starts 5,313 11,492 5,567 5,480 4,346 10,392 Y/Y growth/(decline)(1) 22.3% 10.6% 5.0% 18.5% 89.4% 74.2% UTI Segment Total New Studen
Slide 11: Balance Sheet and Cash Flow Summary
Consolidated Balance Sheet and Cash Flow Summary ($ in thousands) At: 12/31/24 9/30/24 Cash & cash equivalents $ 171,999 $ 161,900 Restricted cash 5,755 5,572 Total current assets 230,873 221,951 PP&E (net) 262,261 264,797 Right-of-use assets for operating leases 155,666 158,778 Goodwill and intangi
Slide 12: Earnings Per Share Trend and Guidance
Earnings Per Share Trend and Guidance ($ in thousands, except EPS) Guidance Actual Actual Actual Actual Actual Actual Fiscal 2025 Midpoint 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 ~$54,000-58,000 $ 22,153 $ 42,001 $ 18,840 $ 4,985 $ 7,78
Slide 13: Leverage as of 12/31/2024
Leverage as of 12/31/2024 Current Loan Balances $120.1M LTM EBITDA $113.8M Cash & Cash Equivalents $172.0M Gross Leverage Ratio 1.06x Net Leverage Ratio (0.46)x Debt as of 12/31/2024 Term Loan: Avondale Campus (Fifth Third Bank) Original Note Amount $31.2M Inception Date 5/12/2021 Rate* Fixed/Floati
Slide 14: Use of Non-GAAP Financial Information
Use of Non-GAAP Financial Information PAGE 14 In addition to disclosing financial results that are determined in accordance with U.S. generally accepted accounting principles ("GAAP"), the Company also discloses certain non-GAAP financial information. These financial measures are not recognized meas
Slide 15: Adjusted EBITDA Reconciliation Trend
Consolidated Adjusted EBITDA Reconciliation Trend ($ in thousands) QUARTER-TO-DATE 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 $ 22,153 $ 42,001 $ 18,840 $ 4,985 $ 7,787 $ 10,389 $ 12,322 Interest (income) ex
Slide 16: Adjusted EBITDA Reconciliation By Segment
Adjusted EBITDA Reconciliation By Segment ($ in thousands) QUARTER-TO-DATE 3 Mos. 12/31/24 3 Mos. 12/31/23 3 Mos. 12/31/24 3 Mos. 12/31/23 3 Mos. 12/31/24 3 Mos. 12/31/23 UTI UTI Concorde Concorde Corporate Corporate Net income (loss), as reported $ 24,328 $ 13,597 $ 11,165 $ 7,173 $ (13,340) $ (10,
Slide 17: Adjusted Free Cash Flow
Consolidated Adjusted Free Cash Flow ($ in thousands) 3 Mos. 12/31/24 3 Mos. 12/31/23 Cash flow provided by operating activities, as reported $22,962 $10,836 Purchase of property and equipment (3,345) (3,848) Free cash flow, non-GAAP $19,617 $6,988 Adjustments: Cash (inflow) outflow for integration-
Slide 18: Slide 18
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