Lincoln Educational Services Corporation (LINC)

LINC Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	467.76	440.06	378.07	348.29	335.34	293.1
Revenue Growth (YoY)	14.53%	16.40%	8.55%	3.86%	14.41%	7.23%
Cost of Revenue	187.37	181.76	162.28	148.75	138.93	122.2
Gross Profit	280.39	258.31	215.8	199.54	196.41	170.9
Selling, General & Admin	259.41	243.8	209.14	182.39	196.32	156.2
Operating Expenses	259.41	243.8	209.14	182.39	196.32	156.2
Operating Income	20.98	14.5	6.66	17.15	0.08	14.7
Interest Expense	-2.85	-2.57	-0.35	-0.16	-2.02	-1.28
Interest & Investment Income	0.89	2.1	2.63	0.32	-	-
EBT Excluding Unusual Items	19.02	14.04	8.94	17.31	-1.93	13.43
Impairment of Goodwill	-	-	-3.8	-	-	-
Gain (Loss) on Sale of Assets	-0.73	-2.12	30.92	0.18	22.48	0.08
Asset Writedown	-	-	-0.42	-1.05	-0.7	-
Other Unusual Items	-	-	-	-	27.4	-
Pretax Income	21.09	14.71	35.64	16.44	47.25	13.51
Income Tax Expense	6.8	4.82	9.64	3.8	12.53	-35.06
Earnings From Continuing Operations	14.29	9.89	26	12.63	34.72	48.57
Net Income	14.29	9.89	26	12.63	34.72	48.57
Preferred Dividends & Other Adjustments	-	-	-	3.42	8.62	11.75
Net Income to Common	14.29	9.89	26	9.21	26.1	36.81
Net Income Growth	79.47%	-61.95%	105.77%	-63.61%	-28.51%	2310.17%
Shares Outstanding (Basic)	31	31	30	26	25	25
Shares Outstanding (Diluted)	31	31	31	26	25	25
Shares Change (YoY)	2.03%	1.15%	18.01%	3.18%	1.34%	0.79%
EPS (Basic)	0.46	0.32	0.86	0.36	1.04	1.49
EPS (Diluted)	0.46	0.32	0.85	0.36	1.04	1.49
EPS Growth	79.82%	-62.35%	138.82%	-65.78%	-30.08%	1799.31%
Free Cash Flow	-62.59	-27.56	-15.14	-8.1	19.92	17.91
Free Cash Flow Per Share	-2.00	-0.89	-0.50	-0.31	0.79	0.72
Gross Margin	59.94%	58.70%	57.08%	57.29%	58.57%	58.31%
Operating Margin	4.49%	3.29%	1.76%	4.92%	0.02%	5.01%
Profit Margin	3.05%	2.25%	6.88%	2.65%	7.78%	12.56%
Free Cash Flow Margin	-13.38%	-6.26%	-4.00%	-2.33%	5.94%	6.11%
EBITDA	36.12	27.46	13.43	23.51	7.22	22.1
EBITDA Margin	7.72%	6.24%	3.55%	6.75%	2.15%	7.54%
D&A For EBITDA	15.14	12.96	6.77	6.36	7.14	7.4
EBIT	20.98	14.5	6.66	17.15	0.08	14.7
EBIT Margin	4.49%	3.29%	1.76%	4.92%	0.02%	5.01%
Effective Tax Rate	32.25%	32.76%	27.05%	23.13%	26.52%	-
Advertising Expenses	-	43.3	38.2	35	33.1	31.2

Updated Aug 11, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q