Legacy Education Inc. — Fiscal 2026 Earnings Summary

Financial Performance

• Full-year 2026 revenue grew 24.8% to $80.1 million compared to $64.2 million in fiscal 2025.
• Fourth quarter 2026 revenue grew 12.0% to $20.1 million compared to the prior year quarter.
• Full-year 2026 net income increased 21.3% to $9.1 million compared to $7.5 million in fiscal 2025.
• Fourth quarter 2026 net income grew 53.3% to $1.9 million compared to the prior year quarter.
• Full-year diluted earnings per share (EPS) increased 11.9% to $0.66 compared to $0.59 in fiscal 2025.
• Fourth quarter diluted EPS increased 44.4% to $0.13 compared to $0.09 in the prior year quarter.
• Full-year EBITDA was $12.5 million and adjusted EBITDA was $13.6 million.
• Fourth quarter EBITDA was $2.8 million and adjusted EBITDA was $3.1 million.
• Educational services expense increased 25.3% to $42.9 million in fiscal 2026 from $34.2 million in fiscal 2025, representing 53.6% of revenue (up from 53.4%).
• General and administrative (G&A) expense increased 26.7% to $24.2 million in fiscal 2026 from $19.1 million in fiscal 2025, representing 30.2% of revenue (up from 29.8%).
• Marketing expenses within G&A were $5.9 million in fiscal 2026 compared to $4.7 million in fiscal 2025.
• Bad debt expense was approximately $4.0 million (5% of revenue) in fiscal 2026 compared to $3.4 million (5.3% of revenue) in fiscal 2025.
• Cash and cash equivalents stood at $22.7 million as of June 30, 2026.
• Total assets were $78.5 million and total stockholders' equity was $52.8 million as of June 30, 2026.
• Interest income was $1.3 million for the full year 2026 compared to $1.1 million in 2025.

Business Segments and Product Lines

• New student starts increased 9.0% in fiscal 2026, totaling 3,483 new starts.
• Year-end student population reached 3,377, an 8.9% increase from 2025.
• High Desert Medical College expanded capacity at its Lancaster and Temecula campuses through significant facility expansions.
• Legacy Education signed a lease for its first planned campus in Houston, Texas, expanding its geographic footprint beyond California.
• Contra Costa Medical Career College received approval for two new degree programs and one certificate program, scheduled for launch in the second quarter of fiscal 2027.
• The company achieved the maximum reaccreditation term for two schools while maintaining institutional accreditation across all four institutions.
• Revenue growth was partially driven by the timing of the Contra Costa Medical Career College (CCMCC) acquisition in December 2024, which contributed a full year of revenue in 2026 versus half a year in 2025.

Other Key Points

• Legacy Education Inc. (NYSE American: LGCY) is a provider of career-focused healthcare education programs.
• The company reported a loss on debt settlement of $333,250 for the full year 2026.
• The company hosts a conference call to discuss results on September 24, 2026, at 4:30 p.m. Eastern time.
• Non-GAAP measures (EBITDA and adjusted EBITDA) exclude non-cash stock-based compensation, which was $1.17 million for the full year 2026.