Lincoln Educational Services (LINC) posted revenue of $116.5 million for the quarter ended June 30, 2025, up 13.2% year-over-year, and net income of $1.6 million compared with a loss a year earlier. Revenue growth was driven by increased student enrollment and start activity, while operating income improved to $2.9 million for the quarter and $6.3 million for the six months.
The company invested heavily in campus expansion and programs, recording $46.3 million of capital expenditures in the six months and increasing property, equipment and facilities to $149.1 million. Cash declined to $16.7 million from $59.3 million at year-end 2024, and the company has $13.0 million outstanding on its credit facility. Student receivables remain sizable ($124.5 million gross) with an allowance of $67.9 million and a $25.0 million provision for credit losses in the six months.
Lincoln Educational Services Corporation, a New Jersey corporation trading as LINC on NASDAQ, furnished a press release on August 11, 2025 announcing financial results for the quarter ended June 30, 2025. The press release is attached as Exhibit 99.1 to this Current Report and is explicitly furnished under Item 2.02 rather than filed, and the Company states that the furnished information is not to be deemed "filed" or incorporated by reference in other filings. The filing reiterates that furnishing the information is not a determination of materiality or a recommendation for investment decisions. The report lists the company headquarters in Parsippany, New Jersey, includes the company telephone number, and is signed by Brian K. Meyers, Executive Vice President, Chief Financial Officer and Treasurer.