Lincoln Educational Services Corporation (LINC)

LINC Income Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue	518.24	440.06	378.07	348.29	335.34
Revenue Growth (YoY)	17.77%	16.40%	8.55%	3.86%	14.41%
Cost of Revenue	205.39	181.76	162.28	148.75	138.93
Gross Profit	312.85	258.31	215.8	199.54	196.41
Selling, General & Admin	282.95	243.8	209.14	182.39	168.92
Other Operating Expenses	1.33	0.68	35.14	1.23	23.18
Total Operating Expenses	284.28	244.48	244.27	183.62	192.1
Operating Income	30.31	15.18	33.36	16.28	49.26
Interest Income	0.13	2.1	2.63	0.32	-
Interest Expense	-3.39	-2.57	-0.35	-0.16	-2.02
Total Non-Operating Income (Expense)	-3.27	-0.47	2.28	0.16	-2.02
Pretax Income	26.12	14.71	35.64	16.44	47.25
Provision for Income Taxes	6.12	4.82	9.64	3.8	12.53
Net Income	20	9.89	26	11.52	33.5
Net Income Attributable to Preferred Dividends	-	-	-	1.11	1.22
Net Income to Common	20	9.89	26	11.52	33.5
Net Income Growth	102.18%	-61.95%	125.61%	-65.60%	-29.01%
Shares Outstanding (Basic)	31	31	30	32	32
Shares Outstanding (Diluted)	31	31	31	32	32
Shares Change (YoY)	1.20%	1.00%	-4.45%	-0.63%	1.71%
EPS (Basic)	0.65	0.32	0.86	0.36	1.04
EPS (Diluted)	0.64	0.32	0.85	0.36	1.04
EPS Growth	100.00%	-62.35%	136.11%	-65.39%	-30.20%
Free Cash Flow	-27.32	-27.56	-15.14	-8.1	19.92
Free Cash Flow Growth	-	-	-	-	11.23%
Free Cash Flow Per Share	-0.87	-0.89	-	-	-
Gross Margin	60.37%	58.70%	57.08%	57.29%	58.57%
Operating Margin	5.85%	3.45%	8.82%	4.67%	14.69%
Profit Margin	3.86%	2.25%	6.88%	3.63%	10.35%
FCF Margin	-5.27%	-6.26%	-4.00%	-2.33%	5.94%
EBITDA	49.47	26.51	39.95	22.64	56.4
EBITDA Margin	9.55%	6.02%	10.57%	6.50%	16.82%
EBIT	30.31	15.18	33.36	16.28	49.26
EBIT Margin	5.85%	3.45%	8.82%	4.67%	14.69%
Effective Tax Rate	23.43%	32.76%	27.05%	23.13%	26.52%

Updated Feb 23, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q