Legacy Education Financials

LEAI

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2024 Currency USD FYE December

This page shows Legacy Education (LEAI) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 12 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Piotroski F-Score Weak

0/9

Legacy Education passes 0 of 9 financial strength tests. No profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Key Financial Metrics

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Earnings & Revenue

Revenue

N/A

EBITDA

N/A

Net Income

-$3.3M

YoY-116.9%

Legacy Education reported -$3.3M in net income in fiscal year 2024. This represents a decrease of 116.9% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$43K

YoY-61.6%

5Y CAGR-48.3%

10Y CAGR-38.5%

Legacy Education held $43K in cash against $758K in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

48M

YoY+26.7%

5Y CAGR+15.9%

10Y CAGR+20.1%

Legacy Education had 48M shares outstanding in fiscal year 2024. This represents an increase of 26.7% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

N/A

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

LEAI Income Statement

Metric	FY24	FY22	FY21	FY20	FY19	FY18
Revenue	N/A	$1.1M-85.9%	$7.7M-70.2%	$25.9M-65.7%	$75.5M-0.9%	$76.2M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	$406K-89.3%	$3.8M-78.7%	$17.8M+15.1%	$15.4M+95.5%	$7.9M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	$2.6M-36.9%	$4.2M-7.9%	$4.6M-66.9%	$13.8M-16.1%	$16.4M
Operating Income	N/A	-$2.2M-440.2%	-$415K-103.1%	$13.2M+702.7%	$1.6M+119.2%	-$8.5M
Interest Expense	N/A	$453K-13.5%	$524K+149.5%	$210K	N/A	$40K
Income Tax	N/A	$58K-91.9%	$716K-75.2%	$2.9M+329.4%	-$1.3M-368.0%	$469K
Net Income	-$3.3M-116.9%	-$1.5M-167.0%	-$566K-103.5%	$16.0M+60.9%	$9.9M+199.9%	-$10.0M
EPS (Diluted)	N/A	$-0.04-100.0%	$-0.02-102.9%	$0.69+64.3%	$0.42+197.7%	$-0.43

Metric	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22
Revenue	$133K	N/A	N/A	$57K-20.8%	$72K-89.3%	$674K+1082.5%	$57K-16.2%	$68K
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	-$32K	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$436K	N/A	$760K+40.7%	$540K-39.1%	$886K+16.7%	$759K+31.1%	$579K-12.5%	$662K
Operating Income	-$786K	N/A	-$824K-31.0%	-$629K+31.6%	-$919K-181.9%	-$326K+46.9%	-$614K+17.9%	-$748K
Interest Expense	$1K	N/A	$101K+68.3%	$60K0.0%	$60K+114.3%	$28K-85.1%	$188K+67.9%	$112K
Income Tax	N/A	N/A	$0	$0	N/A	$194K	$0	$0
Net Income	-$786K	N/A	-$754K-13.2%	-$666K+24.1%	-$878K-91.7%	-$458K-232.4%	$346K+140.4%	-$856K
EPS (Diluted)	$-0.02	N/A	$-0.03-50.0%	$-0.020.0%	$-0.02	N/A	$0.01+125.0%	$-0.04

LEAI Balance Sheet

Metric	FY24	FY22	FY21	FY20	FY19	FY18
Total Assets	$825K-6.3%	$880K-54.2%	$1.9M-69.7%	$6.3M-63.5%	$17.4M-15.6%	$20.6M
Current Assets	$708K-2.9%	$729K-60.8%	$1.9M-70.2%	$6.3M-58.7%	$15.2M-17.7%	$18.4M
Cash & Equivalents	$43K-61.6%	$112K-80.6%	$576K-61.6%	$1.5M-60.9%	$3.8M+230.7%	$1.2M
Inventory	$1K0.0%	$1K0.0%	$1K-90.0%	$10K-78.7%	$47K-14.5%	$55K
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$27.8M+16.7%	$23.9M-1.0%	$24.1M-19.6%	$30.0M-47.1%	$56.7M-18.1%	$69.2M
Current Liabilities	$26.3M+17.0%	$22.5M+8.6%	$20.7M-25.6%	$27.8M-51.0%	$56.7M-16.5%	$67.9M
Long-Term Debt	$758K+35.8%	$558K-71.1%	$1.9M+1.7%	$1.9M+280.0%	$500K+6150.0%	$8K
Total Equity	-$27.0M-17.6%	-$23.0M-3.6%	-$22.2M+6.1%	-$23.6M+40.0%	-$39.4M+19.1%	-$48.7M
Retained Earnings	-$40.6M-7.8%	-$37.7M-4.2%	-$36.2M-1.6%	-$35.6M+31.0%	-$51.6M+16.2%	-$61.6M

Metric	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22
Total Assets	$873K+5.8%	$825K-10.3%	$920K+8.6%	$847K-6.3%	$904K+2.7%	$880K+13.1%	$778K-1.5%	$790K
Current Assets	$756K+6.8%	$708K-11.8%	$803K+9.8%	$731K-5.1%	$770K+5.6%	$729K-1.5%	$740K-0.8%	$746K
Cash & Equivalents	$91K+111.6%	$43K-66.7%	$129K+79.2%	$72K-35.1%	$111K-0.9%	$112K+202.7%	$37K+85.0%	$20K
Inventory	$1K0.0%	$1K0.0%	$1K0.0%	$1K0.0%	$1K0.0%	$1K0.0%	$1K0.0%	$1K
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$28.7M+3.0%	$27.8M+1.5%	$27.4M+3.7%	$26.5M+2.4%	$25.8M+8.3%	$23.9M+2.7%	$23.2M-2.0%	$23.7M
Current Liabilities	$27.1M+3.2%	$26.3M+1.6%	$25.9M+3.1%	$25.1M+2.6%	$24.4M+8.9%	$22.5M+11.4%	$20.2M+3.2%	$19.5M
Long-Term Debt	$758K0.0%	$758K0.0%	$758K+35.8%	$558K0.0%	$558K0.0%	$558K-67.9%	$1.7M-38.7%	$2.8M
Total Equity	-$27.8M-2.9%	-$27.0M-2.0%	-$26.5M-3.5%	-$25.6M-2.7%	-$24.9M-8.5%	-$23.0M-2.3%	-$22.5M+2.0%	-$22.9M
Retained Earnings	-$41.4M-1.9%	-$40.6M-1.6%	-$40.0M-1.9%	-$39.2M-1.7%	-$38.6M-2.3%	-$37.7M-1.2%	-$37.2M+0.9%	-$37.6M

LEAI Cash Flow Statement

Metric	FY24	FY22	FY21	FY20	FY19	FY18
Operating Cash Flow	N/A	-$4.0M+16.7%	-$4.8M+30.6%	-$7.0M-38794.4%	$18K+101.3%	-$1.4M
Capital Expenditures	N/A	N/A	N/A	N/A	$192K-60.7%	$488K
Free Cash Flow	N/A	N/A	N/A	N/A	-$174K+90.9%	-$1.9M
Investing Cash Flow	N/A	N/A	N/A	$2.9M+8360.0%	-$35K+95.7%	-$819K
Financing Cash Flow	N/A	$1.9M-38.2%	$3.1M+121.6%	$1.4M+20100.0%	-$7K-101.4%	$489K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22
Operating Cash Flow	$23K	N/A	-$498K-99.2%	-$250K-25.0%	-$200K+75.4%	-$813K+3.0%	-$838K+32.3%	-$1.2M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	$25K	N/A	$555K+163.0%	$211K-61.8%	$552K-35.3%	$853K+13.3%	$753K+137.5%	$317K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

LEAI Financial Ratios

Metric	FY24	FY22	FY21	FY20	FY19	FY18
Gross Margin	N/A	37.5%-11.6pp	49.0%-19.5pp	68.5%+48.1pp	20.4%+10.1pp	10.4%
Operating Margin	N/A	-206.8%-201.4pp	-5.4%-56.3pp	50.9%+48.8pp	2.2%+13.4pp	-11.2%
Net Margin	N/A	-139.4%-132.1pp	-7.3%-69.1pp	61.8%+48.6pp	13.2%+26.3pp	-13.1%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-397.3%-225.6pp	-171.7%-142.2pp	-29.5%-281.8pp	252.3%+195.0pp	57.3%+105.7pp	-48.4%
Current Ratio	0.030.0	0.03-0.1	0.09-0.1	0.23-0.0	0.270.0	0.27
Debt-to-Equity	-0.030.0	-0.02+0.1	-0.090.0	-0.08-0.1	-0.01-0.0	-0.00
FCF Margin	N/A	N/A	N/A	N/A	-0.2%+2.3pp	-2.5%

Metric	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22
Gross Margin	N/A	N/A	N/A	N/A	-44.4%	N/A	N/A	N/A
Operating Margin	-591.0%	N/A	N/A	-1103.5%+172.9pp	-1276.4%-1228.0pp	-48.4%+1028.8pp	-1077.2%+22.8pp	-1100.0%
Net Margin	-591.0%	N/A	N/A	-1168.4%+51.0pp	-1219.4%-1151.5pp	-68.0%-675.0pp	607.0%+1865.8pp	-1258.8%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-90.0%	N/A	-82.0%-3.3pp	-78.6%+18.5pp	-97.1%-45.1pp	-52.0%-96.5pp	44.5%+152.8pp	-108.3%
Current Ratio	0.030.0	0.030.0	0.030.0	0.030.0	0.030.0	0.030.0	0.040.0	0.04
Debt-to-Equity	-0.030.0	-0.030.0	-0.030.0	-0.020.0	-0.020.0	-0.02+0.1	-0.08+0.0	-0.12
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Note: Shareholder equity is negative (-$27.0M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

Note: The current ratio is below 1.0 (0.03), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

Is Legacy Education profitable?

No, Legacy Education (LEAI) reported a net income of -$3.3M in fiscal year 2024.

How much debt does Legacy Education have?

As of fiscal year 2024, Legacy Education (LEAI) had $43K in cash and equivalents against $758K in long-term debt.

What are Legacy Education's total assets?

Legacy Education (LEAI) had $825K in total assets as of fiscal year 2024, including both current and long-term assets.

How many shares does Legacy Education have outstanding?

Legacy Education (LEAI) had 48M shares outstanding as of fiscal year 2024.

What is Legacy Education's current ratio?

Legacy Education (LEAI) had a current ratio of 0.03 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.

What is Legacy Education's debt-to-equity ratio?

Legacy Education (LEAI) had a debt-to-equity ratio of -0.03 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Legacy Education's return on assets (ROA)?

Legacy Education (LEAI) had a return on assets of -397.3% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

Why is Legacy Education's debt-to-equity ratio negative or unusual?

Legacy Education (LEAI) has negative shareholder equity of -$27.0M as of fiscal year 2024, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

What is Legacy Education's Piotroski F-Score?

Legacy Education (LEAI) has a Piotroski F-Score of 0 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.