Lincoln Educational | 8-K: FY2025 Q2 Revenue Beats Estimate at USD 116.47 M

Revenue: As of FY2025 Q2, the actual value is USD 116.47 M, beating the estimate of USD 113.96 M.

EPS: As of FY2025 Q2, the actual value is USD 0.05, beating the estimate of USD -0.024.

EBIT: As of FY2025 Q2, the actual value is USD 7.588 M.

Segment Revenue

• Campus Operations: Revenue increased by $15.2 million, or 15.1%, to $116.5 million for the second quarter of 2025 compared to the prior year.

Operational Metrics

• Net Income: The company reported a net income of $1.6 million for the second quarter of 2025, compared to a net loss of $0.7 million in the same period of 2024.
• Adjusted EBITDA: Increased by 68.4% to $10.5 million for the second quarter of 2025.
• Operating Income: The operating income for the second quarter of 2025 was $2.878 million, compared to an operating loss of $1.116 million in the same period of 2024.

Cash Flow

• Net Cash Used in Operating Activities: For the six months ended June 30, 2025, net cash used in operating activities was - $8.079 million, compared to - $6.599 million in the same period of 2024.

Unique Metrics

• Student Metrics: Student starts increased by 19.5% in the second quarter of 2025, or 21.8% excluding the Transitional segment.

Outlook / Guidance

• The company has raised its full-year 2025 guidance based on strong first-half performance and favorable operating trends. The updated guidance for 2025 includes revenue between $490 million and $500 million, adjusted EBITDA between $60 million and $65 million, and net income between $13 million and $18 million.