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LINCOLN EDUCATIONAL SERVICES CORP

LINCOLN EDUCATIONAL SERVICES CORPLINCEarnings & Financial Report

Nasdaq

Lincoln Tech is an American group of for-profit postsecondary vocational institutions headquartered in Parsippany, New Jersey with campuses in Colorado, Connecticut, Georgia, Illinois, Indiana, Maryland, New Jersey, New York, Pennsylvania, Rhode Island, Tennessee, and Texas. Each campus is owned and operated by Lincoln Educational Services Corporation, a provider of career-oriented post-secondary education.

NextMar 4, 2026

LINC Q3 2025 Key Financial Metrics

Revenue

$141.4M

Gross Profit

$84.1M

Operating Profit

$6.3M

Net Profit

$3.8M

Gross Margin

59.5%

Operating Margin

4.4%

Net Margin

2.7%

YoY Growth

23.6%

EPS

$0.12

Financial Flow

LINCOLN EDUCATIONAL SERVICES CORP Q3 2025 Financial Summary

LINCOLN EDUCATIONAL SERVICES CORP reported revenue of $141.4M for Q3 2025, with a net profit of $3.8M (2.7% margin). Cost of goods sold was $57.3M, operating expenses totaled $77.8M.

Key Financial Metrics

Total Revenue$141.4M
Net Profit$3.8M
Gross Margin59.5%
Operating Margin4.4%
Report PeriodQ3 2025

LINCOLN EDUCATIONAL SERVICES CORP Annual Revenue by Year

LINCOLN EDUCATIONAL SERVICES CORP annual revenue history includes year-by-year totals (for example, 2024 revenue was $440.1M).

YearAnnual Revenue
2024$440.1M
2023$378.1M
2022$348.3M

Income Statement

Q4 2023Q1 2024Q2 2024Q3 2024Q4 2024Q1 2025Q2 2025Q3 2025
Revenue$102.5M$103.4M$102.9M$114.4M$119.4M$117.5M$116.5M$141.4M
YoY Growth11.7%18.4%16.1%14.8%16.4%13.7%13.2%23.6%

Balance Sheet

Q4 2023Q1 2024Q2 2024Q3 2024Q4 2024Q1 2025Q2 2025Q3 2025
Assets$345.2M$355.2M$366.4M$404.0M$436.6M$427.4M$447.3M$466.9M
Liabilities$178.4M$190.7M$201.5M$234.1M$258.3M$249.7M$266.6M$281.1M
Equity$166.8M$164.5M$164.9M$170.0M$178.3M$177.8M$180.7M$185.9M

Cash Flow

Q4 2023Q1 2024Q2 2024Q3 2024Q4 2024Q1 2025Q2 2025Q3 2025
Operating CF$21.9M$-14.9M$8.3M$5.6M$30.3M$-8.4M$299000$23.9M