Legacy Education Delivers Strong Second Quarter Fiscal 2026 Results with 40% Revenue Growth and Impressive Enrollment Gains

LANCASTER, Calif., Feb. 12, 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 second quarter ended December 31, 2025.

Legacy Education Inc. will host a conference call to discuss its second quarter financial results on Thursday, February 12, 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: Q2 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 An archived version of the webcast will be accessible for 90 days at www.legacyed.com.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.

Second Quarter 2026 Financial Highlights

Six months ended December 31, 2025 Financial Highlights

"This was a standout quarter for Legacy Education, highlighted by strong revenue growth, significant increases in student starts, and expanding profitability," said LeeAnn Rohmann, Chief Executive Officer of Legacy Education Inc. "Demand for our healthcare programs continues to accelerate, and our team executed exceptionally well across enrollment, operations, and student support. We believe the momentum we are seeing positions us well for continued growth as we scale our platform and expand access to career-focused healthcare education."

QUARTER END FINANCIAL RESULTS

Quarter ended December 31, 2025 compared to December 31 , 2024

YEAR TO DATE FINANCIAL RESULTS

Six Months December 31, 2025 compared to December 31 , 2024

Three Months Ended

Six Months Ended

December 31

2025

2024

2025

2024

REVENUE

Tuition and related income, net

$ 19,184,643

$ 13,635,134

$ 38,585,666

$ 27,640,225

OPERATING EXPENSES

Educational services

10,292,079

7,479,226

20,613,676

14,683,800

General and administrative

6,105,666

4,349,129

12,213,264

8,315,176

General and administrative - related party

57,250

43,147

206,600

124,200

Depreciation and amortization

173,514

105,839

297,342

186,980

Total costs and expenses

16,628,509

11,977,341

33,330,882

23,310,156

OPERATING INCOME

2,556,134

1,657,793

5,254,784

4,330,069

Loss on disposal of fixed assets

Interest expense

(3,890)

(8,183)

(28,318)

(3,890)

(52,143)

(57,668)

Interest income

330,387

295,522

649,231

556,418

Total other income

318,314

267,204

593,198

498,750

INCOME BEFORE INCOME TAXES

2,874,448

1,924,997

5,847,982

4,828,819

Income tax expense

(831,747)

(525,951)

(1,618,321)

(1,339,020)

Net income (loss)

$ 2,042,701

$ 1,399,046

$ 4,229,661

$ 3,489,799

Net income per share

Basic net income per share

$ 0.16

$ 0.11

$ 0.34

$ 0.32

Diluted net income per share

$ 0.15

$ 0.10

$ 0.30

$ 0.29

Basic weighted average shares outstanding

12,574,114

12,254,453

12,536,527

10,787,640

Diluted weighted average shares outstanding

13,858,320

13,417,823

13,923,682

11,951,010

Selected Consolidated Balance Sheet Data:

December 31, 2025

(unaudited)

Cash and cash equivalents

$ 21,057,325

Current assets

41,816,891

Working capital

27,767,362

Total assets

73,115,533

Current liabilities

14,049,529

Total stockholders' equity

46,073,908

Important Information Regarding Non-GAAP Financial Information

To supplement Legacy Education's consolidated financial statements presented in accordance with GAAP, Legacy Education furnishes certain adjusted non-GAAP supplemental information to our financial results regarding EBITDA and adjusted EBITDA. This reconciliation adjust 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, generally accepted accounting principles in the United States ("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

Six Months Ended

December 31

2025

2024

2025

2024

Net income

$ 2,042,701

$ 1,399,046

$ 4,229,661

$ 3,489,799

Other income

(318,314)

(267,204)

(593,198)

(498,750)

Provision for income taxes

831,747

525,951

1,618,321

1,339,020

Depreciation and amortization

173,514

105,839

297,342

186,980

EBITDA

2,729,648

1,763,632

5,552,126

4,517,049

Non-cash compensation

295,958

109,157

565,204

176,188

Adjusted EBITDA

$ 3,025,606

$ 1,872,789

$ 6,117,330

$ 4,693,237

ABOUT LEGACY EDUCATION

Legacy Education (NYSE: 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.