PR Newswire·Nov 12, 2026, 4:05 PM ET

Legacy Education Reports First Quarter Fiscal 2027 Results and Record Student Population

LGCY

Legacy Education Inc. reported fiscal first quarter 2027 results for the period ended September 30, 2026, with revenue of $20.0 million, a 3.1% increase year-over-year.
The company recorded a record student population of 3,684, representing a 5.4% increase from the prior year & a 9.1% increase from the previous quarter, supported by 1,006 new student starts.
Net income for the quarter was $0.9 million, while Adjusted EBITDA reached $2.1 million.
Strategic developments include a lease agreement for a new Houston, Texas campus expected to open before December 31, 2026, subject to regulatory approvals.
The U.S. Department of Education approved the change in ownership for Contra Costa Medical Career College & granted approval for three new programs including Cardiac Sonography, Veterinary Assistant, & MRI.
The company hired a Senior Vice President of Compliance & a Senior Vice President of Career Services & Strategic Partnerships.
Educational services expenses increased by 13.0% to $11.7 million, driven by higher personnel costs, rent for the Wildomar Phase 2 premises, & externship fees.
General & administrative expenses rose 18.2% to $7.2 million, primarily due to an estimated $0.7 million legal settlement & increased professional fees.
Operating cash flow was negative $0.9 million, compared to positive $1.1 million in the prior year, due to lower net income & timing of tax payments.
The balance sheet remains strong with $21.7 million in cash & cash equivalents, $47.8 million in current assets, & minimal debt of $0.1 million.
Net income per diluted share was $0.06, down from $0.16 in the prior year, reflecting increased investments in faculty, facilities, & new programs.
The company will host a conference call on November 12, 2026, at 4:30 p.m. Eastern time to discuss these results.

Company: Legacy Education Inc.
Keywords: Legacy Education Inc.