Legacy Education Inc. Reports Third Quarter Fiscal 2026 Growth Across Revenue, Enrollment, and Earnings

LANCASTER, Calif., May 14, 2026 /PRNewswire/ -- Legacy Education Inc. ("Legacy Education" or the "Company") (NYSE American: LGCY), a leading provider of career education healthcare programs, today announced financial and operating results for the fiscal third quarter ended March 31, 2026.

Legacy Education Inc. will host a conference call to discuss its third quarter financial results on Thursday, May 14, 2026 at 4:30 p.m. Eastern time.

To access the live webcast of the conference call, please go to the investor relations section of the Legacy Education website at www.legacyed.com. Participants may also register via teleconference at: Q3 2026 Legacy Education Inc. Earnings Conference Call. Once registration is completed, participants will be provided with a calendar invitation and link to join the call. Participants are requested to register a day in advance or at a minimum 15 minutes before the start of the call. An archived version of the webcast will be accessible for 90 days at www.legacyed.com. Toll-free dial-in number is (877) 407-9785 and international dial-in number is (201) 689-8843.

Third Quarter Fiscal 2026 Financial Highlights

Nine months ended March 31, 2026 Financial Highlights

Key Achievements and Strategic Developments

"We continue to see strong interest in healthcare career training across our markets, supported by student demand and steady enrollment trends," said LeeAnn Rohmann, Chief Executive Officer of Legacy Education. "During the quarter, we remained focused on disciplined execution, operational improvements, and expanding access to career-focused programs that align with workforce needs. We believe our strong balance sheet and growing student population continues building scale across the organization."

QUARTER END FINANCIAL RESULTS

Third Quarter ended March 31, 2026 compared to March 31, 2025

YEAR TO DATE FINANCIAL RESULTS

Nine Months Ended March 31, 2026 compared to March 31, 2025

Three Months Ended

Nine Months Ended

March 31,

March 31,

2026

2025

2026

2025

REVENUE

Tuition and related income, net

$ 21,368,706

$ 18,577,565

$ 59,954,372

$ 46,217,790

OPERATING EXPENSES

Educational services

11,044,240

10,116,976

31,657,916

24,800,776

General and administrative

6,164,610

4,618,026

18,377,874

12,933,202

General and administrative - related party

61,250

46,500

267,850

170,700

Depreciation and amortization

155,753

130,066

453,095

317,046

Total costs and expenses

17,425,853

14,911,568

50,756,735

38,221,724

OPERATING INCOME

3,942,853

3,665,997

9,197,637

7,996,066

Loss on disposal of fixed assets

(8,005)

-

(11,895)

-

Interest expense

(8,067)

(26,342)

(60,210)

(84,010)

Interest income

320,715

305,382

969,946

861,800

Total other income

304,643

279,040

897,841

777,790

INCOME BEFORE INCOME TAXES

4,247,496

3,945,037

10,095,478

8,773,856

Income tax expense

(1,218,200)

(1,127,572)

(2,836,521)

(2,466,592)

Net income

$ 3,029,296

$ 2,817,465

$ 7,258,957

$ 6,307,264

Net income per share

Basic net income per share

$ 0.24

$ 0.23

$ 0.58

$ 0.56

Diluted net income per share

$ 0.22

$ 0.21

$ 0.52

$ 0.51

Basic weighted average shares outstanding

12,617,328

12,377,420

12,563,067

11,309,831

Diluted weighted average shares outstanding

14,064,470

13,528,144

13,949,964

12,460,555

Selected Consolidated Balance Sheet Data:

March 31, 2026

(unaudited)

Cash and cash equivalents

$ 21,681,064

Current assets

43,968,809

Working capital

30,879,885

Total assets

75,459,848

Current liabilities

13,088,924

Total stockholders' equity

49,517,960

Important Information Regarding Non-GAAP Financial Information

To supplement Legacy Education's consolidated financial statements presented in accordance with generally accepted accounting principles in the United States ("GAAP"), Legacy Education furnishes certain adjusted non-GAAP supplemental information to its financial results regarding EBITDA and adjusted EBITDA. This reconciliation adjusts the related GAAP financial measures to exclude operating income to adjust the impact of non-cash compensation in the periods presented. We use such adjusted non-GAAP financial measures to evaluate our period-over-period operating performance because our management team believes that by excluding the effects of such adjusted GAAP-related items that, in their opinion, do not reflect the ordinary earnings of our operations, it enhances investors' overall understanding of our current financial performance and our prospects for the future by (i) providing a more comparable measure of our continuing business, as well as greater understanding of the results from the primary operations of our business, (ii) affording a view of our operating results that may be more easily compared to our peer companies, and (iii) enabling investors to consider our operating results on both a GAAP and adjusted non-GAAP basis (including following the integration period of our prior and proposed acquisitions). However, this adjusted non-GAAP information is not in accordance with, or an alternative to, GAAP and should be considered in conjunction with our GAAP results as the items excluded from the adjusted non-GAAP information may have a material impact on Legacy's financial results. A reconciliation of adjusted non-GAAP adjustments to Legacy's GAAP financial results is included in the tables at the end of this press release.

In the noted fiscal periods, we adjusted net income for the items identified from our GAAP financial results to arrive at our adjusted non-GAAP financial measures:

Stock-based compensation - We exclude stock-based compensation to be consistent with the way management and, in our view, the overall financial community, evaluates our performance and the methods used by analysts to calculate consensus estimates. The expense related to stock-based awards is generally not controllable in the short-term and can vary significantly based on the timing, size and nature of awards granted. As such, we do not include these charges in operating plans.

RECONCILIATION OF NET INCOME, EBITDA, AND ADJUSTED EBITDA

Three Months Ended

Nine Months Ended

March 31,

March 31,

2026

2025

2026

2025

Net income

$ 3,029,296

$ 2,817,465

$ 7,258,957

$ 6,307,264

Other income

(304,643)

(279,040)

(897,841)

(777,790)

Provision for income taxes

1,218,200

1,127,572

2,836,521

2,466,592

Depreciation and amortization

155,753

130,066

453,095

317,046

EBITDA

4,098,606

3,796,063

9,650,732

8,313,112

Non-cash compensation

296,001

107,364

861,205

283,553

Adjusted EBITDA

$ 4,394,607

$ 3,903,427

$ 10,511,937

$ 8,596,665

ABOUT LEGACY EDUCATION

Legacy Education (NYSE American: LGCY) is an award-winning, nationally accredited, for-profit post-secondary education company founded in 2009. Legacy Education provides career-focused education primarily in the healthcare field, with certificates and degrees for nursing, sonography, medical technicians, dental assisting, business administration, and several others. The Company offers a wide range of educational programs and services to help students achieve their professional goals. Legacy Education's focus is on providing high-quality education that is accessible and affordable. Legacy Education is committed to growing its education footprint via organic enrollment growth, addition of new programs, and accretive acquisitions. For more information, please visit www.legacyed.com or on LinkedIn @legacy-education-inc.

FORWARD-LOOKING STATEMENTS

Statements in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements." These statements include, but are not limited to, statements relating to the Company's operations. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The forward-looking statements contained in this press release are based on management's current expectations and are subject to substantial risks, uncertainty, and changes in circumstances. Actual results may differ materially from those indicated by these forward-looking statements because of various important factors, including, without limitation, market conditions and the factors described in the section entitled "Risk Factors" in Legacy's most recent Annual Report on Form 10-K and Legacy's other filings made with the U.S. Securities and Exchange Commission. All such statements speak only as of the date of this press release. Consequently, forward-looking statements should be regarded solely as Legacy's current plans, estimates, and beliefs. Legacy cannot guarantee future results, events, levels of activity, performance, or achievements. Legacy does not undertake and specifically declines any obligation to update or revise any forward-looking statements to reflect new information, future events or circumstances or to reflect the occurrences of unanticipated events, except as may be required by applicable law.

Contact Legacy Education Inc.

Investor Relations

[email protected]

Amato and Partners, LLC

Investors Relations Counsel

[email protected]

SOURCE Legacy Education Inc.