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Dec 31, 2025
Lincoln Tech Q4 2025 Earnings Report
Lincoln Tech reported strong double-digit revenue and earnings growth in Q4 2025, driven by higher student starts and population growth.
Key Takeaways
Lincoln Educational Services generated $142872000 in Q4 2025 revenue, up 19.7% year-over-year, with net income rising to $12700000 and operating income increasing 62.3%. Growth was supported by a 15.7% increase in student starts and a 14.9% rise in end-of-period population.
Revenue increased 19.7% year-over-year to $142872000.
Net income rose to $12700000 from $6834000 last year.
Operating income increased 62.3% to $17736000.
Student starts grew 15.7% and end-of-period population rose 14.9%.
Revenue by Segment
Forward Guidance
Management expects continued strong double-digit growth in 2026, forecasting revenue between $580000000 and $590000000 and adjusted EBITDA between $72000000 and $76000000.
Positive Outlook
- 2026 revenue guidance of $580000000 to $590000000.
- Adjusted EBITDA guidance of $72000000 to $76000000.
- Expected continued student start growth of 8% to 13%.
- Operating leverage expected to improve with scale.
- Strong liquidity position entering 2026.
Challenges Ahead
- Capital expenditures expected between $70000000 and $75000000.
- Approximately $10000000 of new campus operating losses included in 2026 guidance.
- Ongoing investments in expansion initiatives.
- Exposure to regulatory risks in for-profit education sector.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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