Legacy Education Inc. will host a conference call to discuss its third quarter financial results on Thursday, May 14, 2026 at 4:30 p.m. Eastern time.
To access the live webcast of the conference call, please go to the investor relations section of the Legacy Education website at www.legacyed.com. Participants may also register via teleconference at: Q3 2026 Legacy Education Inc. Earnings Conference Call. Once registration is completed, participants will be provided with a calendar invitation and link to join the call. Participants are requested to register a day in advance or at a minimum 15 minutes before the start of the call. An archived version of the webcast will be accessible for 90 days at www.legacyed.com. Toll-free dial-in number is (877) 407-9785 and international dial-in number is (201) 689-8843.
Third Quarter Fiscal 2026 Financial Highlights
Revenue grew 15.0% to $21.4 million
New student starts were 1,078
Net income of $3.0 million, up 7.5%
Adjusted EBITDA of $4.4 million, up 12.6%
Diluted earnings per share of $0.22, up 4.8%
Nine months ended March 31, 2026 Financial Highlights
Revenue grew 29.7% to $60.0 million
New student starts increased 12.7%, to 2,788
Net income of $7.3 million, up 15.1%
Adjusted EBITDA of $10.5 million, up 22.3%
Diluted earnings per share of $0.52, up 2.0%
Key Achievements and Strategic Developments
Student population as of March 31, 2026, increased 9.4% to 3,550 from 3,245
Facility expansion at High Desert Medical College Lancaster and Temecula campuses
Branch Letter of Intent executed
New programs launched at High Desert Medical College, Surgical Technology AAS and Sterile Processing Technician
New program launched at Integrity College of Health, Sterile Processing Technician
"We continue to see strong interest in healthcare career training across our markets, supported by student demand and steady enrollment trends," said LeeAnn Rohmann, Chief Executive Officer of Legacy Education. "During the quarter, we remained focused on disciplined execution, operational improvements, and expanding access to career-focused programs that align with workforce needs. We believe our strong balance sheet and growing student population continues building scale across the organization."
QUARTER END FINANCIAL RESULTSThird Quarter ended March 31, 2026 compared to March 31, 2025
Revenue for the three months ended March 31, 2026 increased by $2.8 million, or 15%, to $21.4 million, compared to $18.6 million for the same period in 2025 driven by new student starts of 1,078 resulting in a 9.4% increase in student enrollment to 3,550.
Educational services expense for the three months ended March 31, 2026 increased by $0.9 million, or 9%, to $11.0 million, compared to $10.1 million in the prior year period. The increase was primarily driven by increased instructional and staffing costs associated with increased student enrollment, including externship fees and non-cash compensation charge. As a percentage of revenue, educational expenses declined from 54.4% to 51.7% primarily due to operating efficiencies in employee compensation and facility costs offset by increases in externship fees and non-cash compensation.
General and administrative expense was $6.2 million for the three months ended March 31, 2026 compared to $4.6 million for the three months ended March 31, 2025, an increase of $1.5 million, or 33.5%. The increase was primarily attributable to an increase in marketing expense, bad debt and professional fees. Of the total general and administrative expense, $1.5 million and $1.2 million related to advertising expense for the three months ended March 31, 2026 and 2025, respectively.
YEAR TO DATE FINANCIAL RESULTSNine Months Ended March 31, 2026 compared to March 31, 2025
Revenue for the nine months ended March 31, 2026 increased by $13.7 million, or 29.7%, to $60.0 million, compared to $46.2 million for the same period in 2025 driven by a 12.7% increase in new student starts to 2,788 from 2,473 last year resulting in a 9.4% increase in student population to 3,550.
Educational services expense for the nine months ended March 31, 2026, increased by $6.9 million, or 28%, to $31.7 million compared to $24.8 million for the same period in 2025. The increase was primarily driven by increased instructional and staffing costs required to support increased student enrollment, as well as rent, externship fee and non-cash compensation charge. As a percentage of revenue, educational expenses declined from 53.6% to 52.8% primarily due to operating efficiencies in employee compensation and facility costs offset by increases in externship fees and non-cash compensation.
General and administrative expense for the nine months ended March 31, 2026, was $18.4 million compared to $12.9 million for the nine months ended March 31, 2025, an increase of $5.4 million, or 42.1%. The increase was primarily attributable to increased marketing expense, bad debt expense and professional fees. Of the total general and administrative expense, $4.8 million and $3.5 million related to advertising expense for the nine months ended March 31, 2026 and 2025, respectively.
Three Months Ended
Nine Months Ended
March 31,
March 31,
2026
2025
2026
2025
REVENUE
