LINC: financial statements from SEC — TradeAlmanac

LINC

Lincoln Educational Services Corporation: financial statements

Company reports as filed with the U.S. Securities and Exchange Commission.

AnnualQuarterly

Income statement

Metric	31 Dec 2025	31 Dec 2024
Revenue	518M	440M
Cost of revenue	205M	182M
Selling, general and administrative	283M	244M
Operating expenses	488M	425M
Operating income	30M	15M
Interest expense	3M	3M
Pre-tax income	26M	15M
Income tax	6M	5M
Net income	20M	10M
Earnings per share	0.65	0.32
Earnings per share, diluted	0.64	0.32
Weighted average shares	30,942	30,580
Weighted average shares, diluted	31,260	30,891

Balance sheet

Metric	31 Mar 2026	31 Dec 2025	30 Sept 2025	30 Jun 2025	31 Mar 2025	31 Dec 2024	30 Sept 2024	30 Jun 2024
Cash and equivalents	17M	29M	13M	17M	29M	59M	54M	67M
Receivables	42M	37M	51M

Cash flow

Metric	31 Dec 2025	31 Dec 2024
Operating cash flow	59M	29M
Depreciation and amortisation	19M	11M
Share-based compensation	5M	5M
Capital expenditure	87M	57M
Investing cash flow	−86M	−47M
Share buybacks	—

Amounts in USD unless stated otherwise. Data: US exchange trading and company filings with the regulator