LINCLincoln Educational Services Corporation

$1B

Q3 2023 Earnings

Consumer Defensive Education & Training Services

Income Statement

Revenue

$100M+8.5% YoY

Gross Profit

$56M56.7% margin

Operating Income

$2M2.0% margin

Net Income

$2M2.1% margin

EPS (Diluted)

$0.07

QoQ Revenue Growth

+12.4%

Cash Flow

Operating Cash Flow

-$7M

Free Cash Flow

-$25M

Stock-Based Comp.

$662,000

Balance Sheet

Total Assets

$316M

Total Liabilities

$159M

Stockholders' Equity

$157M

Cash & Equivalents

$42M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$100M	$92M	+8.5%
Gross Profit	$56M	$52M	+8.9%
Operating Income	$2M	$5M	-59.1%
Net Income	$2M	$4M	-41.8%

Revenue Segments

Campus Operations

$100M100%

Transitional

$91,0000%

LINC Q3 2023 Earnings — Lincoln Educational Services Corporation Revenue & Financial Results | Market Cap Arena