Universal Technical Institute (NYSE: UTI) grows Q2 revenue but margins tighten

Q: How did Universal Technical Institute (UTI) perform financially in Q2 fiscal 2026?

Universal Technical Institute generated revenue of $221.4 million in Q2 fiscal 2026, up 6.7% from $207.4 million a year earlier. Net income was $0.4 million , down from $11.4 million, as the company absorbed significant strategic growth expenses tied to new campuses and programs.

Q: How are student enrollment trends at UTI and Concorde in Q2 fiscal 2026?

Student trends were strong. Average full-time active students rose 7.2% year over year to 26,385, and total new student starts increased 13.8% to 7,569. Both the UTI and Concorde divisions contributed to these gains, supporting the company’s revenue growth and long-term expansion strategy.

Q: What is UTI’s liquidity and debt position as of March 31, 2026?

As of March 31, 2026 , UTI had total available liquidity of $202.4 million , including $87.2 million in cash and cash equivalents, $74.8 million in short-term investments, and $40.4 million of unused revolver capacity. Total debt stood at $130.7 million , including $65.0 million drawn on the revolving credit facility.

Q: What are UTI’s key long-term financial targets under the North Star strategy?

Under its North Star strategy, UTI aims by fiscal 2029 to surpass $1.2 billion in annual revenue and approach $220 million in adjusted EBITDA. These goals are based on organic growth, new campuses, program expansions, and selective acquisitions across transportation, skilled trades, and healthcare education.

Filing Impact

(High)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

Universal Technical Institute, Inc. reported fiscal 2026 second-quarter revenue of $221.4 million, up 6.7% from $207.4 million a year ago, driven by 7.2% growth in average full-time active students to 26,385 and 13.8% growth in new student starts to 7,569.

Net income fell to $0.4 million (basic and diluted EPS of $0.01) from $11.4 million, and operating income declined to $0.3 million from $16.9 million, primarily due to roughly $11 million of strategic growth expenses tied to new campus launches and program expansions.

Adjusted EBITDA decreased 51.0% to $14.1 million from $28.9 million, while six-month revenue rose 8.2% to $442.2 million and six-month net income declined to $13.3 million from $33.6 million as the company invested about $19 million in growth initiatives.

UTI ended March 31, 2026 with $202.4 million of available liquidity, including $87.2 million of cash and cash equivalents, $74.8 million of short-term investments and $40.4 million of undrawn revolving credit capacity, against total debt of $130.7 million.

Insights

Top-line growth remains solid while earnings are temporarily compressed by aggressive growth investments.

Universal Technical Institute grew Q2 revenue 6.7% to $221.4 million, supported by 7.2% higher average full-time active students and double-digit new student start growth in both UTI and Concorde. This indicates continued demand for its transportation, skilled trades and healthcare programs.

Profitability, however, fell sharply as the company absorbed about $11 million of strategic growth expenses in the quarter and roughly $19 million year-to-date. Q2 net income dropped to $0.4 million and adjusted EBITDA to $14.1 million, reflecting the timing of new campus launches and program expansions rather than revenue weakness.

Management reaffirmed full-year fiscal 2026 guidance, including revenue of $905–$915 million, net income of $40–$45 million and adjusted EBITDA of $114–$119 million. With $202.4 million in available liquidity and total debt of $130.7 million as of March 31, 2026, the balance sheet appears positioned to support the North Star growth strategy outlined through FY2029.

8-K Event Classification

3 items: 2.02, 7.01, 9.01

3 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Q2 2026 Revenue: $221.4 million Q2 2026 Net Income: $0.4 million Q2 2026 Adjusted EBITDA: $14.1 million +5 more

8 metrics

Q2 2026 Revenue $221.4 million Three months ended March 31, 2026; up 6.7% from $207.4 million

Q2 2026 Net Income $0.4 million Three months ended March 31, 2026; down from $11.4 million

Q2 2026 Adjusted EBITDA $14.1 million Three months ended March 31, 2026; 51.0% lower than $28.9 million

Six-month Revenue $442.2 million Six months ended March 31, 2026; 8.2% above $408.9 million

Six-month Adjusted EBITDA $41.3 million Six months ended March 31, 2026; down from $64.4 million

Available Liquidity $202.4 million As of March 31, 2026; includes cash, equivalents, short-term investments and revolver capacity

Total Debt $130.7 million As of March 31, 2026; includes $65.0 million drawn on revolver

Average Full-Time Active Students 26,385 students Q2 2026 average; 7.2% year-over-year growth

Key Terms

Adjusted EBITDA, Adjusted free cash flow, North Star strategy, revolving credit facility, +1 more

5 terms

Adjusted EBITDA financial

"Adjusted EBITDA(1) decreased 51.0% to $14.1 million compared to $28.9 million due to $11 million in strategic growth investments."

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

Adjusted free cash flow financial

"Adjusted free cash flow, non-GAAP was $(44,152) thousand for the six months ended March 31, 2026 compared to $7,997 thousand a year earlier."

Adjusted free cash flow is the amount of money a company generates from its operations after accounting for essential expenses and investments, like maintaining or upgrading equipment. It shows how much cash is truly available to grow the business, pay debts, or return to shareholders, helping investors see the company's financial health more clearly.

North Star strategy financial

"As part of Phase II of our North Star growth strategy and to support our new campus growth initiatives, we have further refined our operating model."

revolving credit facility financial

"Total available liquidity was $202.4 million consisting of $87.2 million of cash and cash equivalents, $74.8 million of short-term investments, and $40.4 million available from the revolving credit facility."

A revolving credit facility is a type of loan that a business can borrow from whenever it needs money, up to a set limit. It’s like having a credit card for companies—allowing them to borrow, pay back, and borrow again as needed, providing flexibility for managing cash flow or funding short-term expenses.

Title IV Program regulations regulatory

"Important factors that could affect our actual results include, among other things, the effect of current and future Title IV Program regulations arising out of negotiated rulemakings."

Earnings Snapshot

Revenue: $221.4 million · Guidance included

Q2 FY2026

Revenue $221.4 million +6.7% year over year

Net income $0.4 million down from $11.4 million year over year

Diluted EPS $0.01 down from $0.21 year over year

Adjusted EBITDA $14.1 million -51.0% year over year from $28.9 million

Guidance

Company reaffirmed its fiscal 2026 guidance for revenue of $905–$915 million, net income of $40–$45 million, diluted EPS of $0.71–$0.80, and adjusted EBITDA of $114–$119 million.

Understanding 8-K Material Events →

05/06/2026 - 04:04 PM

____________________________________________________________________________________________________________

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): May 6, 2026

UNIVERSAL TECHNICAL INSTITUTE, INC.

(Exact name of registrant as specified in its charter)


Delaware	1-31923	86-0226984
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)


4225 E. Windrose Drive, Suite 200 Phoenix, AZ (Address of principal executive offices)			85032 (Zip Code)

(623) 445-9500

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.0001 par value per share	UTI	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

☐ Emerging growth company

☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Item 2.02 Results of Operations and Financial Condition.

On May 6, 2026, Universal Technical Institute, Inc. (the "Company") issued a press release reporting its second quarter results for fiscal 2026. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K (this “Form 8-K”) and is incorporated into this Item 2.02 by reference.

Item 7.01 Regulation FD Disclosure.

The Company also posted to the investor relations section of its website (https://investor.uti.edu): (i) an investor presentation, furnished herewith as Exhibit 99.2 (the “Investor Presentation”), and (ii) and a financial supplement, furnished herewith as Exhibit 99.3 (the “Financial Supplement”). Each of the Investor Presentation and the Financial Supplement will be used by the Company during meetings with investors and analysts. This information may be amended or updated at any time and from time to time through another Form 8-K, a later company filing, or other means.

The information in Item 2.02 and Item 7.01 of this Form 8-K, including Exhibit 99.1, Exhibit 99.2 and Exhibit 99.3 attached hereto, is intended to be furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits



Exhibit No.						Description

99.1						Press Release of Universal Technical Institute, Inc., dated May 6, 2026
99.2						Investor Presentation dated May 6, 2026
99.3						Q2 2026 Financial Supplement dated May 6, 2026
104						Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

UNIVERSAL TECHNICAL INSTITUTE, INC.

May 6, 2026

By:

/s/ Bruce Schuman

Name:

Bruce Schuman

Title:

Executive Vice President and Chief Financial Officer

Exhibit 99.1

Universal Technical Institute Reports Fiscal Year 2026 Second Quarter Results

Company Delivers Another Strong Quarter Driven by Robust Demand and Consistent Execution, Reaffirming Full-Year Outlook

PHOENIX, ARIZ. - May 6, 2026 - Universal Technical Institute, Inc. (NYSE: UTI), a leading workforce solutions provider of transportation, skilled trades and healthcare education programs, reported financial results for the fiscal 2026 second quarter ended March 31, 2026. Universal Technical Institute, Inc. operates in two reportable segments, Universal Technical Institute (UTI) and Concorde Career Colleges (Concorde), and together with its segments and subsidiaries is referred to as the “Company,” “we,” “us” or “our.”

Financial Highlights

•Revenue of $221.4 million, an increase of 6.7% over the comparable period.

•Net income of $0.4 million, a decrease of $11.0 million over the comparable period due to strategic growth expenses.

•Adjusted EBITDA(1) of $14.1 million, a decrease of 51.0% over the comparable period due to $11 million in strategic growth expenses.

Operational Highlights and North Star Strategy Developments

•Average full-time active students of 26,385, an increase of 7.2% versus the comparable period, with total new student starts of 7,569, an increase of 13.8% over the comparable period.

•UTI-San Antonio campus opened in March, with initial student starts approximately 60% above plan.

•UTI-Atlanta campus has strong interest with early enrollments pacing well in preparation for the planned July start.

“Our performance throughout the first half of the year continued to meet and exceed expectations, driven by sustained demand across both divisions and progress on our North Star initiatives, further reinforcing our confidence in the trajectory of the business,” said Jerome Grant, CEO of Universal Technical Institute, Inc. “Our new campus launches are providing further validation that our growth model is both repeatable and scalable. UTI San Antonio outperformed our initial start expectations while UTI Atlanta is on track with enrollments ahead of the July opening. Combined with continued strength across our existing campus network, these early indicators give us increasing confidence as we move deeper into full implementation of North Star.

“In conjunction, the opportunity in front of us is expanding as the world enters a generational shift in the labor market. Advancements in artificial intelligence are accelerating demand for the skilled workforce required to build, maintain, and operate the infrastructure behind this new economy. From data centers and energy systems to advanced manufacturing and healthcare delivery, we are well positioned at the center of these evolving needs. We are not only training students for today’s jobs but also preparing them for the AI-enabled workforce of the future. As we continue capitalizing on this demand, we believe the actions we are taking in fiscal 2026 will not only support near term growth but will also create incremental enrollment and earnings upside in fiscal 2027 and beyond.”

Financial Results for the Three-Month Period Ended March 31, 2026 Compared to March 31, 2025

•Revenues increased 6.7% to $221.4 million compared to $207.4 million.

•Operating expenses increased 16.0% to $221.1 million, compared to $190.6 million primarily due to the growth in both UTI and Concorde average full-time active students and strategic growth expenses associated with new campus launches and program expansions currently underway or completed over the last year.

•Operating income of $0.3 million compared to operating income of $16.9 million primarily due to strategic growth expenses.

•Net income decreased to $0.4 million compared to $11.4 million primarily due to strategic growth expenses.

•Basic and diluted earnings per share (EPS) were $0.01, compared to $0.21.

•Adjusted EBITDA(1) decreased 51.0% to $14.1 million compared to $28.9 million due to $11 million in strategic growth investments.

•Average full-time active students increased 7.2%, with total new student starts of 7,569 compared to 6,650.

“With a strong second quarter, we delivered a robust first half of fiscal 2026, supported by continued enrollment momentum, healthy growth in average full-time active students, double-digit growth in new student starts, and solid revenue expansion across both divisions,” said Bruce Schuman, CFO of Universal Technical Institute, Inc. “These results reflect sustained demand across the business, the success of recently launched campuses and programs as well as disciplined execution against the North Star strategy.

“Based on our performance through the first six months of the year and the visibility we have into the remainder of fiscal 2026, we are reaffirming our full-year guidance across all metrics. With our strategic growth investments progressing on schedule, we remain confident in our ability to deliver against our North Star objectives while also supporting faster scaling, improved utilization, and stronger long-term returns including predictable and sustainable cash flows and increasing profits for years to come.”

Financial Results for the Six-Month Period Ended March 31, 2026 Compared to March 31, 2025

•Revenues increased 8.2% to $442.2 million compared to $408.9 million.

•Operating expenses increased by 16.9% to $426.2 million compared to $364.5 million primarily due to the growth in both UTI and Concorde average full-time active students and costs associated with new campus launches and program expansions currently underway or completed over the last year.

•Operating income decreased 63.8% to $16.0 million compared to $44.3 million primarily due to strategic growth expenses.

•Net income decreased 60.5% to $13.3 million compared to $33.6 million primarily due to strategic growth expenses.

•Basic and diluted EPS were $0.24 and $0.24, respectively, compared to $0.62 and $0.61, respectively.

•Adjusted EBITDA(1) decreased 35.9% to $41.3 million compared to $64.4 million due to approximately $19 million in strategic growth investments.

•Average full-time active students increased 7.2%, with total new student starts of 13,018 compared to 11,963.

(1) See the "Use of Non-GAAP Financial Information" below. For a detailed reconciliation of the non-GAAP measures, see the tables following the earnings release.

Balance Sheet and Liquidity

At March 31, 2026, total available liquidity was $202.4 million consisting of $87.2 million of cash and cash equivalents, $74.8 million of short-term investments, and $40.4 million available from the revolving credit facility. Total debt at March 31, 2026 was $130.7 million, including $65.0 million drawn on the revolving credit facility. As of March 31, 2026, the Company incurred $52.7 million of cash capital expenditures ("capex") driven primarily by investments in new campus and program expansions for both UTI and Concorde, along with spending associated with curriculum and equipment refresh and upgrades, facility and leasehold improvements, and IT investments.

Conference Call

Management will hold a conference call to discuss the financial results for the fiscal 2026 second quarter ended March 31, 2026, on Wednesday, May 6, 2026, at 4:30 p.m. ET.

To participate in the live call, investors are invited to dial (844) 881-0138 (domestic) or (412) 317-6790 (international). A live webcast of the call will be available via the Universal Technical Institute, Inc. investor relations website at https://investor.uti.edu. Please go to the website at least 10 minutes early to register, download and install any necessary audio software. The conference call webcast will be archived for fourteen

days at https://investor.uti.edu. Alternatively, the telephone replay can be accessed through May 20, 2026, by dialing (855) 669-9658 (domestic) or (412) 317-0088 (international) and entering passcode 6455050.

Use of Non-GAAP Financial Information

In addition to disclosing financial results that are determined in accordance with U.S. generally accepted accounting principles ("GAAP"), the Company also discloses certain non-GAAP financial information in this press release and may similarly disclose non-GAAP financial information on the related conference call. These financial measures are not recognized measures under GAAP and are not intended to be and should not be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. The Company discloses these non-GAAP financial measures because it believes that they provide investors an additional analytical tool to clarify its results of operations and identify underlying trends. Additionally, the Company believes that these measures may also help investors compare its performance on a consistent basis across time periods. Additional details on our non-GAAP measures and the tables reconciling these measures to the most directly comparable GAAP measure are provided below.

Adjusted EBITDA: The Company defines adjusted EBITDA as net income (loss) before interest expense, interest income, income taxes, depreciation and amortization, adjusted for stock-based compensation expense and items not considered normal recurring operations.

Adjusted Free Cash Flow: The Company defines adjusted free cash flow as net cash provided by (used in) operating activities less capital expenditures, adjusted for items not considered normal recurring operations.

Management utilizes adjusted figures as performance measures internally for operating decisions, strategic planning, annual budgeting and forecasting. For the periods presented, our adjustments for items that management does not consider to be normal recurring operations include:

•Acquisition-related costs: We have excluded costs associated with both potential and announced

acquisitions to allow for comparable financial results to historical operations and forward-looking

guidance.

•Integration-related costs for completed acquisitions: We have excluded integration costs related to business structure realignment and new programs for recent acquisitions to allow for comparable financial results to historical operations and forward-looking guidance. In addition, the nature and amount of such charges vary significantly based on the size and timing of the programs. By excluding the referenced expenses from our non-GAAP financial measures, our management is able to further evaluate our ability to utilize existing assets and estimate their long-term value. Furthermore, our management believes that the adjustment of these items supplements the GAAP information with a measure that can be used to assess the sustainability of our operating performance.

•Restructuring costs: In December 2023, we announced plans to consolidate the two Houston, Texas campus locations to align the curriculum, student facing systems, and support services to better serve students seeking careers in in-demand fields. As part of the transition, the MIAT Houston campus, acquired in November 2021, began a phased teach-out in May 2024, and such campus began operating under the UTI brand. Both facilities will remain in use post-consolidation.

To obtain a complete understanding of our performance, these measures should be examined in connection with net income (loss) and net cash provided by (used in) operating activities, determined in accordance with GAAP, as presented in the financial statements and notes thereto included in the annual and quarterly filings with the Securities and Exchange Commission (“SEC”). Because the items excluded from these non-GAAP measures are significant components in understanding and assessing our financial performance under GAAP, these measures should not be considered to be an alternative to net income (loss) or net cash provided by (used in) operating activities as a measure of our operating performance or liquidity. Exclusion of items in the non-GAAP presentation should not be construed as an inference that these items are unusual, infrequent or non-recurring. Other companies, including other companies in the education industry, may define and calculate non-GAAP financial measures differently than we do, limiting their usefulness as a comparative measure across similarly titled performance measures presented by other companies. A reconciliation of the historical non-GAAP financial measures to the most directly comparable GAAP measures is provided below and investors are encouraged to review the reconciliations.

Forward Looking Statements

All statements contained in this press release and the related conference call, other than statements of historical fact, are "forward-looking" statements within the meaning of the safe harbor from civil liability provided for such statements by the Private Securities Litigation Reform Act of 1995 (set forth in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). These forward-looking statements which address our expected future business and financial performance, may contain words such as "goal," "target," "future," "estimate," "expect," "anticipate," "intend," "plan," "believe," "seek," "project," "may," "should," "will," the negative form of these expressions or similar expressions. Examples of forward-looking statements include, among others, statements regarding (1) the Company’s expectation that it will meet its fiscal year 2026 guidance for new student start growth, revenue growth, net income, diluted earnings per share, Adjusted EBITDA and Adjusted Free Cash Flow; (2) the Company’s expectation that it will continue to expand its value proposition and build a business that can grow in double digits with potential upside, regardless of the economic environment; and (3) the Company’s expectation that it will succeed in new program launches next year. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on the Company’s current beliefs, expectations and assumptions regarding the future of its business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could affect our actual results include, among other things, failure of our schools to comply with the extensive regulatory requirements for school operations; shifts in higher education laws, regulation and policy at the federal and state levels; our failure to maintain eligibility for or our ability to process federal student financial assistance funds; the effect of current and future Title IV Program regulations arising out of negotiated rulemakings, including any potential reductions in funding or restrictions on the use of funds received through Title IV Programs; the effect of future legislative or regulatory initiatives related to veterans’ benefit programs; continued Congressional examination of the for-profit education sector; regulatory investigations of, or actions commenced against, us or other companies in our industry; our failure to execute on our growth and diversification strategy, including effectively identifying, establishing and operating additional schools, programs or campuses; our failure to realize the expected benefits of our acquisitions, or our failure to successfully integrate our acquisitions.; our failure to improve underutilized capacity at certain of our campuses; enrollment declines or challenges in our students’ ability to find employment as a result of macroeconomic conditions; our failure to maintain and expand existing industry relationships and develop new industry relationships; our ability to update and expand the content of existing programs and develop and integrate new programs in a timely and cost-effective manner while maintaining positive student outcomes; a loss of our senior management or other key employees; failure to comply with the restrictive covenants and our ability to pay the amounts when due under the credit agreement; the effect of our principal stockholder owning a significant percentage of our capital stock, and thus being able to influence certain corporate matters and the potential in the future to gain substantial control over our company; the effect of public health pandemics, epidemics or outbreak, including COVID-19, and other risks that are described from time to time in our public filings. Further information on these and other potential factors that could affect the financial results or condition may be found in the company's filings with the SEC. Any forward-looking statements made by us in this press release and the related conference call are based only on information currently available to us and speak only as of the date on which it is made. We expressly disclaim any obligation to publicly update any forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future developments, changes in expectations, any changes in events, conditions or circumstances, or otherwise.

Social Media Disclosure

Universal Technical Institute, Inc uses its websites (https://www.uti.edu/, https://concorde.edu, and https://investor.uti.edu/) and LinkedIn pages (https://www.linkedin.com/school/universal-technical-institute/ and https://www.linkedin.com/school/concorde-career-colleges/) as channels of distribution of information about its programs, its planned financial and other announcements, its attendance at upcoming investor and industry conferences, and other matters. Such information may be deemed material information, and the Company may use these channels to comply with its disclosure obligations under Regulation FD. Therefore, investors should monitor the company's website and its social media accounts in addition to following the company's press releases, SEC filings, public conference calls, and webcasts.

About Universal Technical Institute, Inc.

Universal Technical Institute, Inc. (NYSE: UTI) was founded in 1965 and is a leading workforce solutions provider serving students, partners and communities nationwide. The company offers high-quality education and support services for in-demand careers via its two divisions: UTI and Concorde Career Colleges. The UTI division operates 16 campuses located in nine states, with more announced, and offers a wide range of transportation, skilled trades, electrical and energy training programs. Concorde operates across 18 campuses in eight states and online, with more announced, offering programs in the allied health, dental, nursing, patient care and diagnostic fields. For more information, visit www.uti.edu or www.concorde.edu; LinkedIn at @UniversalTechnicalInstitute and @Concorde Career Colleges; or X at @news_UTI and @ConcordeCareer.

Company Contact:

Matt Kempton

VP Corporate Finance & Investor Relations

Universal Technical Institute, Inc.

(623)445-9392

mkempton@uti.edu

Media Contact:

Susan Aspey

Vice President, Corporate Affairs & External Communications

Universal Technical Institute, Inc.

(202) 549-0534

saspey@uti.edu

Investor Relations Contact:

Matt Glover or Ralf Esper

Gateway Group, Inc.

(949) 574-3860

UTI@gateway-grp.com

(Tables Follow)

UNIVERSAL TECHNICAL INSTITUTE, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share amounts)

(Unaudited)


	Three Months Ended March 31,				Six Months Ended March 31,
	2026		2025		2026		2025
Revenues	$	221,402	$	207,447	$	442,246	$	408,876
Operating expenses:
Educational services and facilities	117,429		102,488		227,877		202,629
Selling, general and administrative	103,634		88,106		198,343		161,916
Total operating expenses	221,063		190,594		426,220		364,545
Income from operations	339		16,853		16,026		44,331
Other income (expense):
Interest income	1,060		1,629		2,606		3,388
Interest expense	(993)		(1,657)		(1,964)		(3,330)
Other (expense) income, net	(23)		9		(73)		(26)
Total other income (expense), net	44		(19)		569		32
Income before income taxes	383		16,834		16,595		44,363
Income tax benefit (expense)	50		(5,388)		(3,335)		(10,764)
Net income	$	433	$	11,446	$	13,260	$	33,599

Earnings per share:
Net income per share - basic	$	0.01	$	0.21	$	0.24	$	0.62
Net income per share - diluted	$	0.01	$	0.21	$	0.24	$	0.61

Weighted average number of shares outstanding:
Basic	55,033		54,383		54,799		54,183
Diluted	55,730		55,442		55,735		55,415

UNIVERSAL TECHNICAL INSTITUTE, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except par value and per share amounts)

(Unaudited)


	March 31, 2026		September 30, 2025
Assets
Cash and cash equivalents	$	87,233	$	127,361
Restricted cash	6,374		6,769
Short-term investments	74,750		41,784
Receivables, net	44,619		46,078
Notes receivable, current portion	6,735		6,597
Prepaid expenses	18,506		12,526
Other current assets	5,568		5,517
Total current assets	243,785		246,632
Property and equipment, net	324,812		285,852
Goodwill	28,459		28,459
Intangible assets, net	21,407		17,352
Notes receivable, less current portion	45,205		41,109
Right-of-use assets for operating leases	168,880		178,861
Deferred tax assets, net	2,744		4,283
Other assets	16,893		23,591
Total assets	$	852,185	$	826,139
Liabilities and Shareholders’ Equity
Accounts payable and accrued expenses	$	106,359	$	104,644

Deferred revenue	74,033		91,525

Operating lease liabilities, current portion	20,704		16,967
Long-term debt, current portion	2,953		2,865
Other current liabilities	3,883		13,670
Total current liabilities	207,932		229,671
Deferred tax liabilities, net	4,144		4,144
Operating lease liabilities	164,780		174,838
Long-term debt	127,781		84,234
Other liabilities	7,643		5,142
Total liabilities	512,280		498,029
Commitments and contingencies
Shareholders’ equity:
Common stock, $0.0001 par value, 100,000 shares authorized, 55,144 and 54,512 shares issued, 55,061 and 54,430 shares outstanding as of March 31, 2026 and September 30, 2025, respectively.	6		5

Paid-in capital	224,752		226,031

Treasury stock, at cost, 82 shares as of March 31, 2026 and September 30, 2025.	(365)		(365)
Retained earnings	114,787		101,527
Accumulated other comprehensive income	725		912
Total shareholders’ equity	339,905		328,110
Total liabilities and shareholders’ equity	$	852,185	$	826,139

UNIVERSAL TECHNICAL INSTITUTE, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)


	Six Months Ended March 31,
	2026		2025
Cash flows from operating activities:
Net income	$	13,260	$	33,599
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	17,950		16,137

Amortization of right-of-use assets for operating leases	12,956		11,316


Provision for credit losses	15,232		9,554
Stock-based compensation	6,456		3,744
Deferred income taxes	1,536		(476)


Training equipment credits earned, net	370		(124)
Unrealized (loss) gain on interest rate swaps, net of taxes	8		159
Other gains (losses), net	393		171
Changes in assets and liabilities:
Receivables	(14,212)		(11,258)
Prepaid expenses and other current assets	(8,060)		(4,269)
Other assets	2,909		(3,430)
Notes receivable	(4,234)		(3,839)
Accounts payable, accrued expenses and other current liabilities	(926)		(3,293)
Deferred revenue	(17,492)		(17,594)
Income tax payable/receivable	(8,353)		3,873

Operating lease liabilities	(9,296)		(11,185)
Other liabilities	(1,428)		(912)
Net cash provided by operating activities	7,069		22,173
Cash flows from investing activities:

Purchase of property and equipment	(52,661)		(14,292)

Purchase of investments	(53,236)		(39,691)
Proceeds received upon maturity of investments	23,668		—
Proceeds from insurance policy	36		—
Capitalized costs for intangible assets	(1,253)		—
Net cash used in investing activities	(83,446)		(53,983)
Cash flows from financing activities:
Proceeds from revolving credit facility	100,000		—
Payments on revolving credit facility	(55,000)		(30,000)

Payment of term loans and finance leases	(1,411)		(1,329)


Proceeds from stock option exercises	—		659
Payment of payroll taxes on stock-based compensation through shares withheld	(7,735)		(4,479)

Net cash provided by (used in) financing activities	35,854		(35,149)
Change in cash, cash equivalents and restricted cash	(40,523)		(66,959)
Cash and cash equivalents, beginning of period	127,361		161,900
Restricted cash, beginning of period	6,769		5,572
Cash, cash equivalents and restricted cash, beginning of period	134,130		167,472
Cash and cash equivalents, end of period	87,233		95,998
Restricted cash, end of period	6,374		4,515
Cash, cash equivalents and restricted cash, end of period	$	93,607	$	100,513

UNIVERSAL TECHNICAL INSTITUTE, INC. AND SUBSIDIARIES

SELECTED SUPPLEMENTAL NON-FINANCIAL AND FINANCIAL INFORMATION BY SEGMENT

(In thousands, except for Student Metrics)

(Unaudited)

Student Metrics


	Three Months Ended March 31, 2026						Three Months Ended March 31, 2025
	UTI		Concorde		Total		UTI		Concorde		Total
Total new student starts	4,110		3,459		7,569		3,591		3,059		6,650
Year-over-year growth	14.5	%	13.1	%	13.8	%	26.4	%	15.9	%	21.4	%
Average full-time active students	15,556		10,829		26,385		14,777		9,827		24,604
Year-over-year growth	5.3	%	10.2	%	7.2	%	7.0	%	15.5	%	10.3	%
End of period full-time active students	15,526		10,879		26,405		14,959		9,892		24,851
Year-over-year growth	3.8	%	10.0	%	6.3	%	10.1	%	16.6	%	12.6	%


	Six Months Ended March 31, 2026			Six Months Ended March 31, 2025
	UTI	Concorde	Total	UTI	Concorde	Total
Total new student starts	7,003	6,015	13,018	6,344	5,619	11,963
Year-over-year growth	10.4%	7.0%	8.8%	23.1%	20.3% (1)	21.7% (1)
Average full-time active students	15,952	10,670	26,622	15,121	9,713	24,834
Year-over-year growth	5.5%	9.9%	7.2%	7.5%	16.0%	10.7%
End of period full-time active students	15,526	10,879	26,405	14,959	9,892	24,851
Year-over-year growth	3.8%	10.0%	6.3%	10.1%	16.6%	12.6%

UNIVERSAL TECHNICAL INSTITUTE, INC. AND SUBSIDIARIES

SELECTED SUPPLEMENTAL NON-FINANCIAL AND FINANCIAL INFORMATION BY SEGMENT

(In thousands)

(Unaudited)

Financial Summary by Segment and Consolidated

As part of Phase II of our North Star growth strategy and to support our new campus growth initiatives, we have further refined our operating model to best pursue future growth goals and support the business. In furtherance of the foregoing, we have centralized the operations of our accounting, finance, information technology, human resources, and real estate departments to leverage economies of scale and create efficiencies to support our continued growth. Due to this centralization, as of October 1, 2025, we have adjusted our allocation methodology to allocate the majority of the Corporate segment’s costs to the UTI and Concorde segments based upon a percentage of revenue. Due to these changes in allocation methodology, the prior year segment disclosures have been recast for comparability to the current year presentation.


	Three Months Ended March 31, 2026								Three Months Ended March 31, 2025
	UTI		Concorde		Corporate		Consolidated		UTI		Concorde		Corporate		Consolidated
Revenue	$	142,719	$	78,683	$	—	$	221,402	$	134,228	$	73,219	$	—	$	207,447
Total operating expenses	138,534		78,884		3,645		221,063		116,501		69,449		4,644		190,594
Net income (loss)	3,399		(245)		(2,721)		433		16,468		3,725		(8,747)		11,446


	Six Months Ended March 31, 2026								Six Months Ended March 31, 2025
	UTI		Concorde		Corporate		Consolidated		UTI		Concorde		Corporate		Consolidated
Revenue	$	285,562	$	156,684	$	—	$	442,246	$	265,706	$	143,170	$	—	$	408,876
Total operating expenses	265,525		153,093		7,602		426,220		225,445		132,587		6,513		364,545
Net income (loss)	18,404		3,554		(8,698)		13,260		37,876		10,508		(14,785)		33,599

UNIVERSAL TECHNICAL INSTITUTE, INC. AND SUBSIDIARIES

SELECTED SUPPLEMENTAL NON-FINANCIAL AND FINANCIAL INFORMATION BY SEGMENT

(In thousands)

(Unaudited)

Major Expense Categories by Segment and Consolidated


	Three Months Ended March 31, 2026
	UTI		Concorde		Corporate		Consolidated
Operating Expenses
Compensation and Benefits	$	57,138	$	37,585	$	19,722	$	114,445
Advertising	21,200		10,045		210		31,455
Occupancy	10,584		6,350		936		17,870
Student Related	11,965		5,945		—		17,910
General Operations	7,737		4,476		5,695		17,908
Depreciation and amortization	6,642		2,073		330		9,045
Professional and Contract Services	2,608		1,280		4,585		8,473
Other Expenses	2,042		847		1,068		3,957
Corporate Support	18,618		10,283		(28,901)		—
Total Operating Expenses	$	138,534	$	78,884	$	3,645	$	221,063


	Three Months Ended March 31, 2025
	UTI		Concorde		Corporate		Consolidated
Operating Expenses
Compensation and Benefits	$	52,496	$	32,788	$	18,001	$	103,285
Advertising	15,850		7,895		209		23,954
Occupancy	9,242		5,891		215		15,348
Student Related	8,799		5,583		—		14,382
General Operations	5,025		5,316		3,202		13,543
Depreciation and amortization	5,949		1,850		339		8,138
Professional and Contract Services	2,553		1,278		4,796		8,627
Other Expenses	1,633		684		1,000		3,317
Corporate Support	14,954		8,164		(23,118)		—
Total Operating Expenses	$	116,501	$	69,449	$	4,644	$	190,594

UNIVERSAL TECHNICAL INSTITUTE, INC. AND SUBSIDIARIES

SELECTED SUPPLEMENTAL NON-FINANCIAL AND FINANCIAL INFORMATION BY SEGMENT

(In thousands)

(Unaudited)

Major Expense Categories by Segment and Consolidated


	Six Months Ended March 31, 2026
	UTI		Concorde		Corporate		Consolidated
Operating Expenses
Compensation and Benefits	$	111,429	$	72,950	$	38,512	$	222,891
Advertising	36,964		19,292		405		56,661
Occupancy	21,152		12,599		1,892		35,643
Student Related	22,322		11,094		—		33,416
General Operations	15,664		8,929		10,644		35,237
Depreciation and amortization	13,042		4,240		668		17,950
Professional and Contract Services	5,197		2,560		8,955		16,712
Other Expenses	3,892		1,634		2,184		7,710
Corporate Support	35,863		19,795		(55,658)		—
Total Operating Expenses	$	265,525	$	153,093	$	7,602	$	426,220


	Six Months Ended March 31, 2025
	UTI		Concorde		Corporate		Consolidated
Operating Expenses
Compensation and Benefits	$	101,894	$	64,006	$	32,151	$	198,051
Advertising	29,527		15,258		398		45,183
Occupancy	18,326		11,712		441		30,479
Student Related	18,840		10,888		—		29,728
General Operations	8,946		7,861		5,174		21,981
Depreciation and amortization	11,900		3,559		678		16,137
Professional and Contract Services	4,969		2,604		8,868		16,441
Other Expenses	3,210		1,598		1,737		6,545
Corporate Support	27,833		15,101		(42,934)		—
Total Operating Expenses	$	225,445	$	132,587	$	6,513	$	364,545

UNIVERSAL TECHNICAL INSTITUTE, INC. AND SUBSIDIARIES

RECONCILIATION OF GAAP FINANCIAL INFORMATION TO NON-GAAP FINANCIAL INFORMATION

(In thousands)

(Unaudited)

Reconciliation of Net Income (Loss) to EBITDA and Adjusted EBITDA


	Three Months Ended March 31, 2026
	UTI		Concorde		Corporate		Consolidated
Net income (loss)	$	3,399	$	(245)	$	(2,721)	$	433


Interest expense (income), net	785		45		(897)		(67)
Income tax expense	—		—		(50)		(50)
Depreciation and amortization	6,642		2,073		330		9,045
EBITDA	10,826		1,873		(3,338)		9,361
Stock-based compensation expense	495		283		3,123		3,901

Integration-related costs for completed acquisitions	—		—		884		884


Adjusted EBITDA, non-GAAP	$	11,321	$	2,156	$	669	$	14,146


	Three Months Ended March 31, 2025
	UTI		Concorde		Corporate		Consolidated
Net income (loss)	$	16,468	$	3,725	$	(8,747)	$	11,446


Interest expense (income), net	1,262		45		(1,279)		28
Income tax expense	—		—		5,388		5,388
Depreciation and amortization	5,971		1,850		317		8,138
EBITDA	23,701		5,620		(4,321)		25,000
Stock-based compensation expense	503		189		2,332		3,024
Acquisition-related costs	—		—		873		873


Adjusted EBITDA, non-GAAP	$	24,204	$	5,809	$	(1,116)	$	28,897

UNIVERSAL TECHNICAL INSTITUTE, INC. AND SUBSIDIARIES

RECONCILIATION OF GAAP FINANCIAL INFORMATION TO NON-GAAP FINANCIAL INFORMATION

(In thousands)

(Unaudited)

Reconciliation of Net Income (Loss) to EBITDA and Adjusted EBITDA


	Six Months Ended March 31, 2026
	UTI		Concorde		Corporate		Consolidated
Net income (loss)	$	18,404	$	3,554	$	(8,698)	$	13,260


Interest expense (income), net	1,634		37		(2,313)		(642)
Income tax expense	—		—		3,335		3,335
Depreciation and amortization	13,042		4,240		668		17,950
EBITDA	33,080		7,831		(7,008)		33,903
Stock-based compensation expense	979		499		4,978		6,456

Integration-related costs for completed acquisitions	—		—		935		935


Adjusted EBITDA, non-GAAP	$	34,059	$	8,330	$	(1,095)	$	41,294


	Six Months Ended March 31, 2025
	UTI		Concorde		Corporate		Consolidated
Net income (loss)	$	37,876	$	10,508	$	(14,785)	$	33,599


Interest expense (income), net	2,394		75		(2,527)		(58)
Income tax expense	—		—		10,764		10,764
Depreciation and amortization	11,942		3,559		636		16,137
EBITDA	52,212		14,142		(5,912)		60,442
Stock-based compensation expense	906		268		2,570		3,744
Acquisition-related costs	—		—		873		873
Integration-related costs for completed acquisitions(1)	—		—		(700)		(700)

Restructuring costs	43		—		—		43
Adjusted EBITDA, non-GAAP	$	53,161	$	14,410	$	(3,169)	$	64,402

(1) During the six months ended March 31, 2025, the Company received $0.7 million in funds in final settlement of the outstanding escrow accounts affiliated with the purchase of Concorde on December 1, 2022.

UNIVERSAL TECHNICAL INSTITUTE, INC. AND SUBSIDIARIES

RECONCILIATION OF GAAP FINANCIAL INFORMATION TO NON-GAAP FINANCIAL INFORMATION

(In thousands)

(Unaudited)

Reconciliation of Net Cash Provided by Operating Activities to Adjusted Free Cash Flow


	Six Months Ended March 31,
	2026		2025
Net cash provided by operating activities, as reported	$	7,069	$	22,173
Purchase of property and equipment	(52,661)		(14,292)
Free cash flow, non-GAAP	(45,592)		7,881
Adjustments:



Cash outflow (inflow) for integration-related costs for completed acquisitions(1)	1,440		(700)
Cash outflow for acquisition-related costs	—		761

Cash outflow for restructuring costs and property and equipment	—		55




Adjusted free cash flow, non-GAAP	$	(44,152)	$	7,997

UNIVERSAL TECHNICAL INSTITUTE, INC. Q2 FY2026 INVESTOR PRESENTATION

This presentation contains forward-looking statements within the meaning of the safe harbor from civil liability provided for such statements by the Private Securities Litigation Reform Act of 1995 (set forth in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). Forward-looking statements may contain words such as "goal," "target," "future," "estimate," "expect," "anticipate," "intend," "plan," "believe," "seek," "project," "may," "should," "will," the negative form of these expressions or similar expressions. These statements are based on our management’s current beliefs, expectations and assumptions about future events, conditions and results and on information currently available to us. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, achievements or events and circumstances reflected in the forward-looking statements will occur. Discussions containing these forward-looking statements may be found, among other places, in the sections entitled “Business,” “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” incorporated by reference from our most recent Annual Report on Form 10-K, in our subsequent Quarterly Reports on Form 10-Q and certain of our Current Reports on Form 8-K, as well as any amendments thereto, filed with the Securities and Exchange Commission (the “SEC”). In addition, statements that refer to projections of earnings, revenue, costs or other financial items in future periods; anticipated growth and trends in our business or key markets; cost synergies, growth opportunities and other potential financial and operating benefits; future growth and revenues; future economic conditions and performance; anticipated performance of curriculum; plans, objectives and strategies for future operations; and other characterizations of future events or circumstances, and all other statements that are not statements of historical fact are forward-looking statements. Such statements are based on currently available operating, financial and competitive information and are subject to various risks, uncertainties and assumptions that could cause actual results to differ materially from those anticipated or implied in our forward-looking statements due to a number of factors, including, but not limited to, those set forth under the section entitled “Risk Factors” in our filings with the SEC. Important factors that could affect our actual results include, among other things, failure of our schools to comply with the extensive regulatory requirements for school operations; our failure to maintain eligibility for or our ability to process federal student financial assistance funds; the effect of current and future Title IV Program regulations arising out of negotiated rulemakings, including any potential reductions in funding or restrictions on the use of funds received through Title IV Programs; the effect of future legislative or regulatory initiatives related to veterans’ benefit programs; continued Congressional examination of the for-profit education sector; investigations of, or actions commenced against, us or other companies in our industry; changes in the state regulatory environment or budgetary constraints; our growth and diversification strategy, including effectively identifying, establishing and operating additional schools, programs or campuses; our failure to realize the expected benefits of our acquisitions, or our failure to successfully integrate our acquisitions; our failure to improve underutilized capacity at certain of our campuses; enrollment declines or challenges in our students’ ability to find employment as a result of macroeconomic conditions; our failure to maintain and expand existing industry relationships and develop new industry relationships; our ability to update and expand the content of existing programs and develop and integrate new programs in a timely and cost-effective manner while maintaining positive student outcomes; a loss of our senior management or other key employees; failure to comply with the restrictive covenants and our ability to pay the amounts when due under our credit agreement; and other risks that are described from time to time in our public filings. Given these risks, uncertainties and other factors, many of which are beyond our control, you should not place undue reliance on these forward-looking statements. Neither we nor any other person makes any representation as to the accuracy or completeness of these forward-looking statements and, except as required by law, we assume no obligation to update these forward-looking statements publicly, or to revise any forward-looking statements, even if new information becomes available in the future. This presentation also contains estimates and other statistical data made by independent parties, and by us, relating to market size and growth and other data about our industry and our business. This data involves several assumptions and limitations, and you are cautioned not to give undue weight to such estimates. In addition, projections, assumptions and estimates of our future performance and the future performance of the markets in which we operate are necessarily subject to a high degree of uncertainty and risk. Forward-Looking Statements 2

3 Addressing Skills Gaps Through In-Demand Industry Segments LEADING WORKFORCE SOLUTIONS EDUCATION PROVIDER 4 out of 5 Grads Employed Within 1 Year2 35+ Program Offerings Transportation, Energy, and Skilled Trades 34 Campuses Nationwide +5 announced1 1 New campus openings are subject to appropriate regulatory approvals. 2 On average, across all programs all campuses nationwide. Employment rates may vary significantly by program and by campus. See slides 20 and 22 of this presentation as well as UTI.edu/disclosures and the individual campus pages on Concorde.edu for additional information. Healthcare 25k+ Average Active Students

North Star Strategy Phase II “By fiscal 2029, we expect to surpass $1.2 billion in annual revenue and approach $220 million in adjusted EBITDA as we build out a more diversified, efficient, and durable growth engine for the long term.” [Per Company Earnings Release 11/19/2025] == 4 FY2026STRONG FINANCIAL OUTLOOK* Note: For detailed reconciliations of Non-GAAP measures see the Appendix. * See slide 18 for additional details. $114-119M$40-45M$905-915M Revenue Guidance Net Income Guidance Adj. EBITDA Guidance

Compelling Investment Thesis 1 See Company press release 8/5/2024 “Universal Technical Institute, Inc. Announces Next Phase of ‘North Star Strategy’ to Accelerate Growth, Diversification and Optimization.” 2 Per recent years’ accreditor reporting results. See slides 20 and 22 in this presentation as well as uti.edu/disclosures and the individual campus pages on concorde.edu for additional information. Universal Technical Institute, Inc. 5 Leading educational platforms serving critical, in-demand markets with favorable long-term trends Strong student outcomes2 and positive regulatory metrics driven by enterprise-wide emphasis on our students Consistently meeting or exceeding expectations with proactive management and strong business visibility Successful and ongoing transformation efforts supporting optimized operating model and margin expansion Healthy balance sheet and disciplined capital allocation plan driving continued growth and shareholder value creation Proven strategy driving further growth1 built on the repeatable building blocks that have served as the foundation to the Company’s successful evolution

Diversified Platform of In-Demand Programs 6 Note: See Appendix for more details by Division 1 New campus openings are subject to appropriate regulatory approvals. Example Programs • Auto/Diesel/Motorcycle/ Marine Technician • Welding • Energy Technology and Wind Power • Aviation Maintenance, Airframe and Powerplant • Robotics and Automation Example Programs • Dental Hygienist/Assistant • Medical Assistant • Practical/Vocational/ Registered Nursing • Healthcare Administration • Physical Therapy and Occupational Therapy Assistants $542M Revenue in FY2025 15k Average Students in FY2025 15+ programs across Transportation, Energy, and Skilled Trades 16 Campuses in 9 States, plus 2 additional Campuses announced1 In-person and Hybrid/Blended formats $294M Revenue in FY2025 10k Average Students in FY2025 20+ programs in Dental, Allied Health, Nursing, Patient Care and Diagnostics 18 Campuses in 8 States, plus 3 additional Campuses announced1 In-person, Hybrid/Blended, and fully Online formats

7 Offerings Across Transportation, Skilled Trades, and Healthcare Address Labor Market Needs Note: Projections as per the Occupational Outlook Handbook published annually by the U.S. Bureau of Labor Statistics www.bls.gov, August 2025. Job openings include those due to net employment changes and net replacements. Example UTI Transportation, Energy, & Skilled Trade Programs Auto/Diesel/Motorcycle/ Marine Technician Welding Energy Technology and Wind Power Aviation Maintenance, Airframe and Powerplant Auto Body Repairers Example Concorde Healthcare Programs Dental Hygienist/Assistant Medical Assistant Practical/Vocational/ Registered Nursing Healthcare Administration Physical and Occupational Therapy Assistants 0% 5% 10% 15% 20% 25% 30% JO B G RO W TH 2 02 4- 20 34 ANNUAL JOB OPENINGS 2024-2034 50%

High-Quality, State-of-the-Industry Technical and Healthcare Training Facilities Supporting Successful Student Outcomes

$317 $332 $301 $335 $419 $607 $733 $836 $905-$915 2018 2019 2020 2021 2022 2023 2024 2025 2026E Increasing Momentum in a Multi-Year Transformation Journey Note: For detailed reconciliations of Non-GAAP measures see the Appendix. FY2026E based on midpoints of Company guidance New Campuses One in FY2018, Two in FY 2022, Three in FY2026, Four announced for FY2027, with more in FY2028 and beyond Acquisitions and Program Expansions MIAT (closed FY2022), Concorde (closed FY2023) Program and Curricula Additions Programs launched at existing campuses, New MSATs, On-Base Military Programs, EV Curriculum Marketing and Admissions Optimization Revised model to encompass expanded offering set, improvements in lead conversion Real Estate Rationalization Run-rate EBITDA improvements realized; continued emphasis on capacity utilization Blended Learning Improving student experience and space and instructor efficiencies Revenue ($ in Millions) Net Income $40-$45 Adj EBITDA $114-$119 Net Income ($33) Adj EBITDA ($6) 9

0 2 4 6 8 10 $5 $10 $15 $20 $25 $30 $35 $40 $45 Weekly Trading Volume Share Price Delivering on Expectations and Creating Shareholder Value Note: Analyst Consensus, Share Price, and Market Capitalization figures updated as of Market close 5/5/2026 *For detailed reconciliations of Non-GAAP measures see the Appendix. Revenue ($ in Millions) FY'23 FY'24 FY’25 FY’26E Early Estimate - $700+ ~$800 - Initial Guidance $595-$610 $705-$715 $800-$815 $905-$915 Revised Guidance $602-$605 $720-$730 $830-$835 - Analyst Consensus $603 $728 $829 $911.4 Actual $607 $733 $836 Adj. EBITDA* ($ in Millions) FY'23 FY'24 FY’25 FY’26E Early Estimate - ~$100 ~$120 - Initial Guidance $58-$62 $98-$102 $120-$124 $114-$119 Revised Guidance $62-$64 $102-$104 $124-$128 - Analyst Consensus $63 $103 $126 $116.6 Actual $64 $103 $126 Share Price: ~$7.00 Market Cap: $0.2B Share Price: ~$38.60 Market Cap: $2.1B 10

Optimized Improved model for new campuses with more offerings for students and stronger financial profile for the company Tailored Geography-specific sites with a customized set of programs, for example skilled-trades-only2 locations for the UTI division in new markets, requiring less space and start-up costs Co-branded Leverage deep industry relationships to partner in launching locations that will address the significant demand for our students in the workforce3 Executing Multifaceted Approach in Ongoing Expansion1 Efforts Program Expansions New Campuses 11 1 All initiatives contingent on requisite regulatory approvals. 2 Skilled-trades-only UTI campuses may include programs such as HVACR, Welding, Energy & Robotics but exclude Auto & Diesel, resulting in significant reductions to square footage and CapEx requirements. 3 See, for example, the November 2025 launch of the first co-branded campus with Heartland Dental—a first-of-its-kind partnership. Optimize Increase the capacity of current programs in current locations Add Continue to add programs from our current portfolio to more existing campus locations New Launch new, in-demand program areas we do not currently offer

Robust Incremental New Campus and Program Opportunities Note: See slides 21 and 23 in appendix for full listing of program offerings by campus; New campus and program openings are subject to applicable regulatory approvals. UTI Campuses Concorde Campuses UTI & Concorde Campuses UTI Location Concorde Location Announced Location 12 © GeoNames, Microsoft, TomTom Powered by Bing Atlanta, GA (UTI) Atlanta, GA (Concorde) Houston, TX (Concorde) Phoenix, AZ (Concorde) Salt Lake City, UT (UTI)

Our exclusive data-driven model integrates demographic, regulatory, and financial inputs to prioritize campus and program expansions that align with market demand and our mission to serve career-ready students. Proprietary Framework for Sustainable Growth A robust set of criteria is evaluated in selecting future locations and programs Population & Geo-Market Analysis Competition & Saturation Mapping Partnership Potential Site Selection & Feasibility Program Fit & Institutional Strengths Regulatory & Accreditation Review Student Acquisition Cost & Yield Modeling Return on Education Forecast Capital Allocation Considerations & Return Thresholds 13 Disciplined approach ensures we scale strategically, not just rapidly, & that each growth initiative delivers long-term value.

$33 $126 Approaching $220 FY21 FY25 FY29E Concorde Acquisition New Campuses Programs New Campuses Programs Organic Growth Organic Growth Phase II of North Star Strategy Driving Continued Growth 1 See page 24 of this presentation for illustrative new campus and program proformas Note: Implementation of all new campuses and programs is subject to review and approval by applicable regulatory authorities ($ in Millions) Adjusted EBITDA Organic Growth Continue to optimize and find efficiencies in our current offerings to drive ongoing same store improvements New Campuses Leverage new, optimized models and refined program mix formats to expand geographic footprint New Programs & Expansions Continue additions of current programs to existing campuses & increasing capacity of current programs offered 14 North Star Phase I North Star Phase II Concorde Acquisition + Organic Growth + 2 New Campuses & over 30 New Programs Organic Growth + 12-16 New Campuses + 50-70 New Programs & Expansions1

Disciplined Capital Allocation Strategy Creating Long-Term Value Notes: “Baseline Adj EBITDA” refers to Reported Adj EBITDA excluding growth investments; FY26 projections align with mid-points of Company’s stated guidance *While the Company continually invests in growth & transformation initiatives across the organization, “growth investments” in this context are expenses specifically associated with opening new campuses and programs. Adjusted EBITDA ($ in Millions) 15 ~($100) Operating Cash Flow CapEx Adjusted Free Cash Flow FY2029E ~($70) Growth ~($30) Maint Approaching $220 Approaching $120 Adjusted Free Cash Flow ($ in Millions) ~$116.0 ~$6.5 ~$22.5 ~($100.0) Operating Cash Flow CapEx Adjustments Adjusted Free Cash Flow FY2026E $97.3 $0.6 $56.0 ($42.0) Operating Cash Flow CapEx Adjustments Adjusted Free Cash Flow FY2025 ($54.0) Executed & Accrued ($22.0) Maint. ($20.0) Growth ~$156.5 ~($40.0) ~$116.5 Baseline Adj. EBITDA Growth Investments* Reported Adj. EBITDA FY2026E Baseline Adj. EBITDA Growth Investments* Reported Adj. EBITDA FY2029EApproaching $270 Approaching $220 ~($50) ($26.0) Maintenance ($74.0) Growth $132.8 ($6.3) $126.5 Baseline Adj. EBITDA Growth Investments* Reported Adj. EBITDA FY2025

$836 $905-915 $1,200+ FY25 FY26E FY27E FY28E FY29E Adj EBITDA Approaching $220Net Income $63 Adj EBITDA $126 Net Income $40-$45 Adj EBITDA $114-$119 Organic Growth New Campuses Programs * ~3% Same Store Volume + 2-3% Tuition Increases + ~5% Growth Initiatives Repeatable Building Blocks Delivering Additional Scale FY26E based on midpoints of Company guidance ($ in Millions) New Campuses Leverage new, optimized models and refined program mix formats to expand geographic footprint New Programs & Expansions Continue additions of current programs to existing campuses & increasing capacity of current programs offered Additional Acquisitions Strategic and disciplined approach for evaluating new opportunities; would be accretive to long-term outlook presented Adjusted EBITDA 16 Organic Growth Continue to optimize and find efficiencies in our current offerings to drive ongoing same store improvements

Business Outlook Fiscal 2026 Guidance

Fiscal 2026 Guidance 1 Beginning in FY2025, growth investments for program expansion and new campus initiatives are no longer included as add-backs in Adj EBITDA and Adj FCF calculations, affecting year-over-year comparability. Further, FY2026 guidance reflects significant growth investments in both capital and operating expenditures, impacting year-over-year comparability and affecting both profitability and cash flows for the year Note: For detailed reconciliations of Non-GAAP measures see the Appendix. ($ in Millions, except EPS) $49.1 $73.5 $56.0 $20-$25 2023 2024 2025 2026E Adjusted Free Cash Flow1 $12.3 $42.0 $63.0 $40-$45 2023 2024 2025 2026E Net Income $0.13 $0.75 $1.13 $0.71-$0.80 2023 2024 2025 2026E EPS - Diluted $607.4 $732.7 $835.6 2023 2024 2025 2026E Revenue $905-$915 $64.2 $102.9 $126.5 2023 2024 2025 2026E Adjusted EBITDA1 $114-$119 18 22,613 26,885 29,793 2023 2024 2025 2026E New Student Starts 31.5k-33.0k

Appendix

© GeoNames, Microsoft, TomTom Powered by Bing 20 Business Overview • 15+ programs for in-demand fields across transportation and skilled trades • Program Mix (FY2025 Revenue): – Auto/Diesel 63%, Other Transportation 12%, Welding 10%, Other Skilled Trades 8%, and Industry Training 6% • Program additions and new campus launches remain part of the division’s growth roadmap Universal Technical Institute Division Overview 1 Fiscal 2025 2 Current active campuses – Additional campuses announced in Atlanta, GA and Salt Lake City, UT; New Campus openings subject to appropriate regulatory approvals 3 Based on most recent reporting periods. Ratios represent averages across UTI’s 4 OPEIDs, though individual program results may vary significantly from the mean. Note that due to the COVID-19 pandemic, ED paused all loan payments from March 13, 2020 through September 30, 2023, significantly decreasing default rates. 4 Aggregated rates based on reporting in the ACCSC 2025 annual reports. Each of the ACCSC program outcomes is evaluated individually. The ACCSC reports exclude graduates from the employment rate calculation who were not available for employment because of continuing education, military service, health, incarceration, death or international student status. See UTI.edu/disclosures for further information. Note: For detailed reconciliations of Non-GAAP measures see the Appendix. Mission Statement To serve our students, partners, and communities by providing quality education and support services for in-demand careers. A leading provider of transportation, energy and skilled trades technical training, driven to change the world one life at a time by helping people achieve their dreams. Summary Statistics Founded 1965 Revenue1 $542M Operating Inc.1 (Margin) $82M (15.2%) Adj. EBITDA1 (Margin) $108M (20.0%) Locations2 16 Campuses in 9 States, with 2 more announced Key Metrics Avg. Enrollment1 ~15k Students Cohort Default Rate3 0% 90/10 Ratio3 ~81% Graduation Rate4 ~74% Employment Rate4 ~79% Composite Score: Calculated and reported only at an enterprise level. Reported score for FYE 9/30/25 was 2.3

UTI Division Programs by Location Note some programs above have been announced but are not yet open at all locations shown. 1UTI Avondale and UTI Phoenix MSAT = Manufacturer-Specific Advanced Training (offerings vary by location) Austin, TX Avondale, AZ1 Bloomfield, NJ Canton, MI Dallas, TX Exton, PA Houston, TX Lisle, IL Long Beach, CA Miramar, FL Mooresville, NC Orlando, FL Rancho Cucamonga, CA San Antonio, TX Sacramento, CA Transportation Airframe & Powerplant        Automotive              Collision   Diesel             Marine  Motorcycle    MSAT            NASCAR Tech  Energy Energy Technology  Wind Power   Skilled Trades CNC Machining  HVACR              Industrial Maintenance   Non-Destructive Testing  Robotics & Automation   Welding               Electrical, Electronics & Industrial Technology (EEIT) Electrical, Electronics & Industrial Technology       Electrical, Wind Turbine Technology     Electrical & Industrial Maintenance Technology       Electrical, Robotics & Automation Technology      21

© GeoNames, Microsoft, TomTom Powered by Bing 22 Business Overview • 20+ programs for in-demand healthcare professional degrees and certifications • Program Mix (FY2025 Revenue): – Dental 26%, Medical Assisting 22%, Other Allied Health 25%, Nursing 16%, Diagnostic 8%, and Health Services Management 3% • Program additions and new campus launches remain part of the division’s growth roadmap Concorde Career Colleges Division Overview 1 Fiscal 2025 2 Current active campuses – Additional campuses announced in, Houston, TX, Atlanta, GA, and Phoenix, AZ; New Campus openings subject to appropriate regulatory approvals 3 Based on most recent reporting periods and represent approximate averages across Concorde’s 11 OPEIDs, though individual program results may vary significantly from the mean. Note that due to the COVID-19 pandemic, ED paused all loan payments from March 13, 2020 through September 30, 2023, significantly decreasing default rates. 4 Aggregated rates for the 14 campuses accredited by ACCSC based on reporting in the ACCSC 2025 annual reports and excludes the three campuses not accredited by ACCSC. Each of the ACCSC program outcomes is evaluated individually. The ACCSC reports exclude graduates from the employment rate calculation who were not available for employment because of continuing education, military service, health, incarceration, death or international student status. See disclosures on the individual campus pages on Concorde.edu for additional information. Note: For detailed reconciliations of Non-GAAP measures see the Appendix. Mission Statement To prepare committed students for successful employment in a rewarding health care profession through high-caliber training, real world experience and student-centered support. Healthcare education provider focused on preparing America’s next generation of healthcare professionals for rewarding careers in areas such as dental, patient care, nursing and allied health. Composite Score: Calculated and reported only at an enterprise level. Reported score for FYE 9/30/25 was 2.3. Summary Statistics Founded 1968 Revenue1 $294M Operating Inc.1 (Margin) $17M (5.7%) Adj. EBITDA1 (Margin) $25M (8.5%) Locations2 18 Campuses in 8 States, with 3 more announced Key Metrics Avg. Enrollment1 ~10k Students Cohort Default Rate3 0% 90/10 Ratio3 ~76% Graduation Rate4 ~73% Employment Rate4 ~82%

Concorde Programs by Location Note some programs above have been announced but are not yet open 1Kansas City location includes both a main campus and a smaller satellite campus Aurora, CO Dallas, TX Fort Myers, FL Garden Grove, CA Grand Prairie, TX Jacksonville, FL Kansas City, MO1 Memphis, TN Miramar, FL North Hollywood, CA Orlando, FL Portland, OR San Antonio, TX San Bernadino, CA San Diego, CA Southaven, MS Tampa, FL Online Nursing Nursing (BS)   Nursing Practice (AS/AAS)   Practical / Vocational Nursing (Diploma)           RN to BSN  Dental Dental Assisting (AS/AAS)  Dental Assisting (Diploma)                 Dental Hygiene (AS/AAS)                Diagnostic Cardiovascular Sonography (AS/AAS)             Diagnostic Medical Sonography (AS/AAS)             Neurodiagnostic Technology (AS/AAS)    Polysomnographic Technology (Diploma)     Radiologic Technology (AS/AAS)     Patient Care Massage Therapy (Diploma)   Occupational Therapy Assistant (AS/AAS)  Physical Therapist Assistant (AS/AAS)           Respiratory Therapy (AS/AAS)              Surgical Technology (AS/AAS)                Allied Health Dental Hygiene (BS)  Healthcare Administration (BS)  Medical Assistant (Diploma)                 Medical Assisting (AS/AAS)  Medical Office Administration (Diploma)  Medical Office Professional (AS/AAS)  Medical Office Professional (Diploma)   Pharmacy Technician (AS/AAS)  Pharmacy Technician (Diploma)       Phlebotomy Technician (Diploma)             Sterile Processing Technician (Diploma)              Continuing Education Radiography     23

Illustrative Organic Growth Opportunities Note: Financial projections based on management’s current beliefs, expectations and assumptions about future events, conditions and results. Representative figures include startup expenses and are not fully burdened (i.e., exclude allocated corporate and marketing costs and working capital considerations). 1Return on Invested Capital (ROIC): Calculated as projected Year 10 after-tax net cash flow divided by (total capital expenditures plus one-time pre-launch costs). Growth strategy expected to include additional program expansions and new campuses. Below examples are for directional guidance on financial impact. ($15) ($5) $5 $15 $25 $35 $45 $55 Year 0/1 Year 2 Year 3 Year 4 Year 5 New Campus UTI Division ($0.5) $0.5 $1.5 $2.5 $3.5 Year 0/1 Year 2 Year 3 Year 4 Year 5 HVACR ($0.5) $0.0 $0.5 $1.0 $1.5 Year 0/1 Year 2 Year 3 Year 4 Year 5 Digital Medical Sonography Proforma projections shown. Actual financial profiles will vary by location, individual program performance, and program mix. ($10) $0 $10 $20 $30 $40 Year 0/1 Year 2 Year 3 Year 4 Year 5 New Campus Concorde Division Revenue EBITDA New Campus HVACR Program New Campus Digital Medical Sonography UTI Division UTI Division Concorde Division Concorde Division CapEx Requirement $15M-$30M ~$0.8M $12M ~$0.5M IRR (10-year) 25%-35% 70%+ ~25% 30%+ Sq Footage Requirement 50,000-115,000 4,600 45,000 1,300 Average Students 700-1,500 ~110 ~850 ~35 Return on Invested Capital (Year 10)1 30%+ 95%+ 35%+ 65%+ 24 $ in Millions

Differentiated Industry Partnerships UTI’s relationships with more than 30 leading brands, and other industry and employer partners for both UTI and Concorde, provide unique value propositions and competitive differentiation for our schools and students. * In November 2025 the Company launched a co-branded campus with Heartland Dental for dental hygiene and dental assistant programs, a first-of-its-kind partnership. * 25

Non-GAAP Information

Use of Non-GAAP Financial Information In addition to disclosing financial results that are determined in accordance with U.S. generally accepted accounting principles ("GAAP"), the Company also discloses certain non-GAAP financial information. These financial measures are not recognized measures under GAAP and are not intended to be and should not be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. The Company discloses these non-GAAP financial measures because it believes that they provide investors an additional analytical tool to clarify its results of operations and identify underlying trends. Additionally, the Company believes that these measures may also help investors compare its performance on a consistent basis across time periods. The Company defines adjusted EBITDA as net income (loss) before interest expense, interest income, income taxes, depreciation and amortization, adjusted for stock-based compensation expense and items not considered normal recurring operations. The Company defines adjusted free cash flow as net cash provided by (used in) operating activities less capital expenditures, adjusted for items not considered normal recurring operations. Management utilizes adjusted figures as performance measures internally for operating decisions, strategic planning, annual budgeting and forecasting. For the periods presented, our adjustments for items that management does not consider to be normal recurring operations include: • Acquisition-related costs: We have excluded costs associated with both potential and announced acquisitions to allow for comparable financial results to historical operations and forward- looking guidance. • Integration-related costs for completed acquisitions: We have excluded integration costs related to business structure realignment and new programs for recent acquisitions to allow for comparable financial results to historical operations and forward-looking guidance. In addition, the nature and amount of such charges vary significantly based on the size and timing of the programs. By excluding the referenced expenses from our non-GAAP financial measures, our management is able to further evaluate our ability to utilize existing assets and estimate their long- term value. Furthermore, our management believes that • Restructuring costs: In December 2023, we announced plans to consolidate the two Houston, Texas campus locations to align the curriculum, student facing systems, and support services to better serve students seeking careers in in-demand fields. As part of the transition, the MIAT-Houston campus, acquired in November 2021, began a phased teach-out in May 2024, and such campus began operating under the UTI brand. Both facilities will remain in use, operated by UTI-Houston post-consolidation. As of March 31, 2025, the only remaining cost related to this restructuring is the potential for federal loan discharges. • Facility lease accounting adjustments: During 2024, we recorded a lease accounting adjustment for a lease termination payment for the previous Concorde corporate offices. These adjustments are not considered part of normal recurring operations. To obtain a complete understanding of our performance, these measures should be examined in connection with net income (loss) and net cash provided by (used in) operating activities, determined in accordance with GAAP, as presented in the financial statements and notes thereto included in the annual and quarterly filings with the SEC. Because the items excluded from these non-GAAP measures are significant components in understanding and assessing our financial performance under GAAP, these measures should not be considered to be an alternative to net income (loss) or net cash provided by (used in) operating activities as a measure of our operating performance or liquidity. Exclusion of items in the non-GAAP presentation should not be construed as an inference that these items are unusual, infrequent or non-recurring. Other companies, including other companies in the education industry, may define and calculate non-GAAP financial measures differently than we do, limiting their usefulness as a comparative measure across similarly titled performance measures presented by other companies. A reconciliation of the historical non-GAAP financial measures to the most directly comparable GAAP measures is included in the following slides and investors are encouraged to review the reconciliations. Information reconciling forward-looking adjusted EBITDA and adjusted free cash flow to the most directly comparable GAAP financial measure is unavailable to the company without unreasonable effort. The company is not able to provide a quantitative reconciliation of forward-looking adjusted EBITDA or adjusted free cash flow to the most directly comparable GAAP financial measure because certain items required for such reconciliation are uncertain, outside of the company’s control and/or cannot be reasonably predicted, including but not limited to the provision for (benefit from) income taxes. Preparation of such reconciliation would require a forward-looking statement of income and statement of cash flows prepared in accordance with GAAP, and such forward- looking financial statements are unavailable to the company without unreasonable effort. 27

Adjusted EBITDA Reconciliation ($ in Thousands) 1. Costs related to both announced and potential acquisition targets; FY2026 projected spend is an estimate and is fully contingent on acquisition-related expenses this year, if any. 2. In fiscal 2025, the Company received $0.7 million in funds in final settlement of the outstanding escrow accounts affiliated with the purchase of Concorde on December 1, 2022. This is offset by additional integration costs incurred during the year. 3. In December 2023, the Company announced plans to consolidate its MIAT-Houston and UTI-Houston operations beginning in fiscal 2024 which was completed in Q1 fiscal 2025. As of March 31, 2025, the only remaining cost related to this restructuring is the potential for federal loan discharges. 4. During 2024, we recorded a lease accounting adjustment for a lease termination payment for the previous Concorde corporate offices. These adjustments are not considered part of normal recurring operations. Expected adjustments outlined for FY2026 are illustrative only and may differ from what is realized, either in the amounts &/or the categories shown. Net income, as reported ~$42,500 $63,018 $42,001 Interest expense, net ~1,000 (540) 3,157 Income tax expense ~15,500 21,256 14,229 Depreciation and amortization ~39,000 32,958 29,324 EBITDA ~$98,000 $116,692 $88,711 Stock-based compensation expense ~12,500 9,151 8,560 Acquisition-related costs(1) ~3,000 873 − Integration-related costs for completed acquisitions(2) ~3,000 (304) 6,049 Restructuring costs(3) − 43 185 Facility lease accounting adjustments(4) − − (650) Adjusted EBITDA, non-GAAP ~$116,500 $126,455 $102,855 FY2026 Guidance Range $114,000-$119,000 Guidance Midpoint Fiscal 2026 Actual Fiscal 2025 Actual Fiscal 2024 28

Adjusted Free Cash Flow Reconciliation ($ in Thousands) 1. Costs related to both announced and potential acquisition targets; FY2026 projected spend is an estimate and is fully contingent on acquisition-related spend this year, if any. 2. In fiscal 2025, the Company received $0.7 million in funds in final settlement of the outstanding escrow accounts affiliated with the purchase of Concorde on December 1, 2022. This is offset by additional integration costs incurred during the year. 3. In December 2023, the Company announced plans to consolidate its MIAT-Houston and UTI-Houston operations beginning in fiscal 2024 which was completed in Q1 fiscal 2025. As of March 31, 2025, the only remaining cost related to this restructuring is the potential for federal loan discharges. 4. During 2024, we recorded a lease accounting adjustment for a lease termination payment for the previous Concorde corporate offices. These adjustments are not considered part of normal recurring operations. Note: Expected adjustments outlined for FY2026 are illustrative only and may differ from what is realized, either in the amounts &/or the categories shown. Guidance Midpoint Fiscal 2026 Actual Fiscal 2025 Actual Fiscal 2024 Cash flow provided by operating activities, as reported ~$116,500 $97,330 $85,895 Purchase of property and equipment ~(100,000) (41,978) (24,298) Free cash flow, non-GAAP ~16,500 $55,352 $61,597 Adjustments Cash outflow for acquisition-related costs(1) ~3,000 873 − Cash outflow for integration-related costs for completed acquisitions(2) ~3,000 (304) 6,196 Cash outflow for integration-related PP&E(2) − − 4,330 Cash outflow for restructuring costs and PP&E(3) − 59 632 Cash outflow for facility lease accounting adjustments(4) − − 700 Adjusted Free Cash Flow, non-GAAP ~$22,500 $55,980 $73,455 FY2026 Guidance Range $20,000-$25,000 29

UNIVERSAL TECHNICAL INSTITUTE, INC. Q2 FY2026 FINANCIAL SUPPLEMENT

This presentation contains forward-looking statements within the meaning of the safe harbor from civil liability provided for such statements by the Private Securities Litigation Reform Act of 1995 (set forth in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). Forward-looking statements may contain words such as "goal," "target," "future," "estimate," "expect," "anticipate," "intend," "plan," "believe," "seek," "project," "may," "should," "will," the negative form of these expressions or similar expressions. These statements are based on our management’s current beliefs, expectations and assumptions about future events, conditions and results and on information currently available to us. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, achievements or events and circumstances reflected in the forward-looking statements will occur. Discussions containing these forward-looking statements may be found, among other places, in the sections entitled “Business,” “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” incorporated by reference from our most recent Annual Report on Form 10-K, in our subsequent Quarterly Reports on Form 10-Q and certain of our Current Reports on Form 8-K, as well as any amendments thereto, filed with the Securities and Exchange Commission (the “SEC”). In addition, statements that refer to projections of earnings, revenue, costs or other financial items in future periods; anticipated growth and trends in our business or key markets; cost synergies, growth opportunities and other potential financial and operating benefits; future growth and revenues; future economic conditions and performance; anticipated performance of curriculum; plans, objectives and strategies for future operations; and other characterizations of future events or circumstances, and all other statements that are not statements of historical fact are forward-looking statements. Such statements are based on currently available operating, financial and competitive information and are subject to various risks, uncertainties and assumptions that could cause actual results to differ materially from those anticipated or implied in our forward-looking statements due to a number of factors, including, but not limited to, those set forth under the section entitled “Risk Factors” in our filings with the SEC. Important factors that could affect our actual results include, among other things, failure of our schools to comply with the extensive regulatory requirements for school operations; our failure to maintain eligibility for or our ability to process federal student financial assistance funds; the effect of current and future Title IV Program regulations arising out of negotiated rulemakings, including any potential reductions in funding or restrictions on the use of funds received through Title IV Programs; the effect of future legislative or regulatory initiatives related to veterans’ benefit programs; continued Congressional examination of the for-profit education sector; regulatory investigations of, or actions commenced against, us or other companies in our industry; changes in the state regulatory environment or budgetary constraints; our failure to execute on our growth and diversification strategy, including effectively identifying, establishing and operating additional schools, programs or campuses; our failure to realize the expected benefits of our acquisitions, or our failure to successfully integrate our acquisitions; our failure to improve underutilized capacity at certain of our campuses; enrollment declines or challenges in our students’ ability to find employment as a result of macroeconomic conditions; our failure to maintain and expand existing industry relationships and develop new industry relationships; our ability to update and expand the content of existing programs and develop and integrate new programs in a timely and cost-effective manner while maintaining positive student outcomes; a loss of our senior management or other key employees; failure to comply with the restrictive covenants and our ability to pay the amounts when due under our credit agreements; and other risks that are described from time to time in our public filings. Given these risks, uncertainties and other factors, many of which are beyond our control, you should not place undue reliance on these forward-looking statements. Neither we nor any other person makes any representation as to the accuracy or completeness of these forward-looking statements and, except as required by law, we assume no obligation to update these forward-looking statements publicly, or to revise any forward-looking statements, even if new information becomes available in the future. This presentation also contains estimates and other statistical data made by independent parties, and by us, relating to market size and growth and other data about our industry and our business. This data involves several assumptions and limitations, and you are cautioned not to give undue weight to such estimates. In addition, projections, assumptions and estimates of our future performance and the future performance of the markets in which we operate are necessarily subject to a high degree of uncertainty and risk. Forward-Looking Statements 2

Consolidated Q2 2026 Highlights 3 Q2 2026 Revenue $221.4 million Net Income $0.4 million Adjusted EBITDA $14.1 million Diluted Earnings Per Share $0.01 Note: See Company Press Release and Investor Presentation dated May 6, 2026 for more details on guidance, including non-GAAP reconciliations. Revenue increased 6.7% to $221.4 million. Concorde contributed $78.7 million (7.5% YoY growth), while the UTI division contributed $142.7 million (6.3% YoY growth). Total Full-Time Active Students grew 7.2% year-over-year to 26,385 Net Income was $0.4 million or $0.01 per diluted share Baseline adjusted EBITDA was $25.1 million. Including $11.0 million in growth investments, our reported adjusted EBITDA was $14.1 million. Total available liquidity of $202.4 million, including $74.8 million of short-term investments and $40.4 million of remaining capacity on our revolving credit facility— ample reserves for any potential business needs or new opportunities that may arise. The Company reiterated its fiscal 2026 guidance for all metrics The Company remains well-positioned and confident in delivering its 5-year strategic targets of a 10% Revenue CAGR and Adjusted EBITDA approaching $220M by FY2029.

4 1. For a detailed reconciliation of Non-GAAP measures, see slides 14-18. 3 Mos. 3/31/26 3 Mos. 3/31/25 YoY Change 6 Mos. 3/31/26 6 Mos. 3/31/25 YoY Change Revenues $221.4 $207.4 6.7% $442.2 $408.9 8.2% Operating expenses $221.1 $190.6 16.0% $426.2 $364.5 16.9% Educational services and facilities $117.4 $102.5 14.6% $227.9 $202.6 12.5% Selling, general and administrative $103.6 $88.1 17.6% $198.3 $161.9 22.5% Income from operations $0.3 $16.9 (98.0)% $16.0 $44.3 (63.8)% Total other income (expense), net $0.0 $0.0 (331.6)% $0.6 $0.0 1678.1% Income tax benefit (expense) $0.1 $(5.4) (100.9)% $(3.3) $(10.8) (69.0)% Net income $0.4 $11.4 (96.2)% $13.3 $33.6 (60.5)% Adjusted EBITDA(1) $14.1 $28.9 (51.0)% $41.3 $64.4 (35.9)% Operating cash flow $4.0 $(0.8) (605.1)% $7.1 $22.2 (68.1)% Adjusted free cash flow(1) $(25.0) $(10.9) 128.8% $(44.2) $8.0 (652.1)% Capital expenditures $30.4 $10.9 177.9% $52.7 $14.3 268.5% Consolidated Q2 2026 Summary Results ($ in millions)

5 Consolidated Statements of Operations Trend ($ in thousands, except EPS) 3 Mos. 3/31/26 3 Mos. 12/31/25 12 Mos. 9/30/25 3 Mos. 9/30/25 3 Mos. 6/30/25 3 Mos. 3/31/25 3 Mos. 12/31/24 12 Mos. 9/30/24 Revenues $ 221,402 $ 220,844 $ 835,616 $ 222,442 $ 204,298 $ 207,447 $ 201,429 $ 732,687 Operating expenses: Educational services and facilities 117,429 110,448 420,491 112,258 105,604 102,488 100,141 384,529 Selling, general and administrative 103,634 94,709 331,656 85,198 84,542 88,106 73,810 289,267 Total operating expenses 221,063 205,157 752,147 197,456 190,146 190,594 173,951 673,796 Income from operations 339 15,687 83,469 24,986 14,152 16,853 27,478 58,891 Total other income (expense), net 44 525 805 573 200 (19) 51 (2,661) Income tax benefit (expense) 50 (3,385) (21,256) (6,803) (3,689) (5,388) (5,376) (14,229) Net Income 433 12,827 63,018 18,756 10,663 11,446 22,153 42,001 Preferred stock dividends — — — — — — — (1,097) Income available for distribution 433 12,827 63,018 18,756 10,663 11,446 22,153 40,904 Income allocated to participating securities — — — — — — — (2,855) Net income available to common shareholders $ 433 $ 12,827 $ 63,018 $ 18,756 $ 10,663 $ 11,446 $ 22,153 $ 38,049 Net income per share, diluted $ 0.01 $ 0.23 $ 1.13 $ 0.34 $ 0.19 $ 0.21 $ 0.40 $ 0.75 EBITDA(1) $ 9,361 $ 24,542 $ 116,692 $ 33,634 $ 22,616 $ 25,000 $ 35,442 $ 88,711 Total Shares Outstanding (Period End) 55,061 55,014 54,430 54,430 54,424 54,406 54,366 53,817 Weighted Average Diluted Shares Outstanding 55,730 55,744 55,615 55,728 55,635 55,442 55,406 50,851 1. For a detailed reconciliation of Non-GAAP measures, see slides 14-18.

6 3 Mos. 3 Mos. 12 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 12 Mos. 3/31/26 12/31/25 9/30/25 9/30/25 6/30/25 3/31/25 12/31/24 9/30/24 Revenues 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% Operating Expenses: Educational services and facilities 53.0% 50.0% 50.3% 50.5% 51.7% 49.4% 49.8% 52.5% Selling, general and administrative 46.8% 42.9% 39.7% 38.3% 41.4% 42.5% 36.6% 39.5% Total operating expenses 99.8% 92.9% 90.0% 88.8% 93.1% 91.9% 86.4% 92.0% Income from operations 0.2% 7.1% 10.0% 11.2% 6.9% 8.1% 13.6% 8.0% Total other income (expense), net 0.0% 0.2% 0.1% 0.3% 0.1% 0.0% 0.1% (0.4)% Income tax (expense) benefit 0.0% (1.5)% (2.5)% (3.1)% (1.8)% (2.6)% (2.7)% (1.9)% Net Income 0.2% 5.8% 7.6% 8.4% 5.2% 5.5% 11.0% 5.7% Preferred stock dividends —% —% —% —% —% —% —% (0.1)% Income available for distribution 0.2% 5.8% 7.6% 8.4% 5.2% 5.5% 11.0% 5.6% Income allocated to participating securities —% —% —% —% —% —% —% (0.4)% Net income available to common shareholders 0.2% 5.8% 7.6% 8.4% 5.2% 5.5% 11.0% 5.2% EBITDA(1) 4.2% 11.1% 14.0% 15.1% 11.1% 12.1% 17.6% 12.1% Consolidated Results of Operations Trend Percent of Revenue 1. For a detailed reconciliation of Non-GAAP measures, see slides 14-18.

7 Quarterly Trend – Segment Key Metrics ($ in millions, except revenue per student amounts) 3 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 3/31/26 12/31/25 9/30/25 6/30/25 3/31/25 3/31/26 12/31/25 9/30/25 6/30/25 3/31/25 UTI UTI UTI UTI UTI Concorde Concorde Concorde Concorde Concorde New student starts 4,110 2,893 7,166 2,829 3,591 3,459 2,556 4,943 2,892 3,059 Y/Y growth/(decline) 14.5% 5.1% 1.4% (3.0)% 26.4% 13.1% (0.2)% 11.7% 9.1% 15.9% Average full-time active students 15,556 16,347 15,207 14,205 14,777 10,829 10,511 9,842 9,552 9,827 Y/Y growth/(decline) 5.3% 5.7% 8.1% 8.9% 7.0% 10.2% 9.5% 8.0% 18.8% 15.5% Revenue per student $9,200 $8,700 $9,500 $9,300 $9,100 $7,300 $7,400 $7,900 $7,600 $7,400 Y/Y growth/(decline) 1.1% 2.4% 2.2% 3.3% 2.2% (1.4)% 1.4% 9.7% 1.3% 2.8% Revenues $142.7 $142.8 $144.6 $131.5 $134.2 $78.7 $78.0 $77.8 $72.8 $73.2 Y/Y growth/(decline) 6.3% 8.6% 10.8% 12.3% 8.8% 7.5% 11.4% 18.2% 20.7% 20.2% Income (loss) from operations $4.2 $15.9 $24.2 $17.7 $17.7 $(0.2) $3.8 $5.0 $1.1 $3.8 Margin 2.9% 11.1% 16.7% 13.5% 13.2% (0.3)% 4.9% 6.4% 1.5% 5.2% Adjusted EBITDA(1) $11.3 $22.7 $30.9 $24.3 $24.2 $2.2 $6.2 $7.3 $3.3 $5.8 Adjusted EBITDA margin 7.9% 15.9% 21.4% 18.5% 18.0% 2.7% 7.9% 9.4% 4.5% 7.9% 1. For a detailed reconciliation of Non-GAAP measures, see slides 14-18.

8 3 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 3/31/26 3/31/26 3/31/26 3/31/26 3/31/25 3/31/25 3/31/25 3/31/25 UTI Concorde Corporate Consolidated UTI Concorde Corporate Consolidated Revenues $ 142,719 $ 78,683 $ — $ 221,402 $ 134,228 $ 73,219 $ — $ 207,447 Compensation and Benefits 57,138 37,585 19,722 114,445 52,496 32,788 18,001 103,285 Advertising 21,200 10,045 210 31,455 15,850 7,895 209 23,954 Occupancy 10,584 6,350 936 17,870 9,242 5,891 215 15,348 Student Related 11,965 5,945 — 17,910 8,799 5,583 — 14,382 General Operations 7,737 4,476 5,695 17,908 5,025 5,316 3,202 13,543 Depreciation and amortization 6,642 2,073 330 9,045 5,949 1,850 339 8,138 Professional and Contract Services 2,608 1,280 4,585 8,473 2,553 1,278 4,796 8,627 Other Expenses 2,042 847 1,068 3,957 1,633 684 1,000 3,317 Corporate Support 18,618 10,283 (28,901) — 14,954 8,164 (23,118) — Total Operating Expenses $ 138,534 $ 78,884 $ 3,645 $ 221,063 $ 116,501 $ 69,449 $ 4,644 $ 190,594 Income (loss) from operations $ 4,185 $ (201) $ (3,645) $ 339 $ 17,727 $ 3,770 $ (4,644) $ 16,853 Net income (loss) $ 3,399 $ (245) $ (2,721) $ 433 $ 16,468 $ 3,725 $ (8,747) $ 11,446 EBITDA(1) $ 10,826 $ 1,873 $ (3,338) $ 9,361 $ 23,701 $ 5,620 $ (4,321) $ 25,000 Adjusted EBITDA(1) $ 11,321 $ 2,156 $ 669 $ 14,146 $ 24,204 $ 5,809 $ (1,116) $ 28,897 Adjusted EBITDA margin 7.9% 2.7% —% 6.4% 18.0% 7.9% —% 13.9% 1. For a detailed reconciliation of Non-GAAP measures, see slides 14-18. Segment Results of Operations: Second Quarter ($ in thousands)

9 6 Mos. 6 Mos. 6 Mos. 6 Mos. 6 Mos. 6 Mos. 6 Mos. 6 Mos. 3/31/26 3/31/26 3/31/26 3/31/26 3/31/25 3/31/25 3/31/25 3/31/25 UTI Concorde Corporate Consolidated UTI Concorde Corporate Consolidated Revenues $ 285,562 $ 156,684 $ — $ 442,246 $ 265,706 $ 143,170 $ — $ 408,876 Compensation and Benefits 111,429 72,950 38,512 222,891 101,894 64,006 32,151 198,051 Advertising 36,964 19,292 405 56,661 29,527 15,258 398 45,183 Occupancy 21,152 12,599 1,892 35,643 18,326 11,712 441 30,479 Student Related 22,322 11,094 — 33,416 18,840 10,888 — 29,728 General Operations 15,664 8,929 10,644 35,237 8,946 7,861 5,174 21,981 Depreciation and amortization 13,042 4,240 668 17,950 11,900 3,559 678 16,137 Professional and Contract Services 5,197 2,560 8,955 16,712 4,969 2,604 8,868 16,441 Other Expenses 3,892 1,634 2,184 7,710 3,210 1,598 1,737 6,545 Corporate Support 35,863 19,795 (55,658) — 27,833 15,101 (42,934) — Total Operating Expenses $ 265,525 $ 153,093 $ 7,602 $ 426,220 $ 225,445 $ 132,587 $ 6,513 $ 364,545 Income (loss) from operations $ 20,037 $ 3,591 $ (7,602) $ 16,026 $ 40,261 $ 10,583 $ (6,513) $ 44,331 Net income (loss) $ 18,404 $ 3,554 $ (8,698) $ 13,260 $ 37,876 $ 10,508 $ (14,785) $ 33,599 EBITDA(1) $ 33,080 $ 7,831 $ (7,008) $ 33,903 $ 52,212 $ 14,142 $ (5,912) $ 60,442 Adjusted EBITDA(1) $ 34,059 $ 8,330 $ (1,095) $ 41,294 $ 53,161 $ 14,410 $ (3,169) $ 64,402 Adjusted EBITDA margin 11.9% 5.3% —% 9.3% 20.0% 10.1% —% 15.8% 1. For a detailed reconciliation of Non-GAAP measures, see slides 14-18. Segment Results of Operations: Year-to-Date ($ in thousands)

10 Consolidated Balance Sheet and Cash Flow Summary ($ in thousands) At: 3/31/26 9/30/25 Cash & cash equivalents $ 87,233 $ 127,361 Short-term investments 74,750 41,784 Total current assets 243,785 246,632 PP&E (net) 324,812 285,852 Right-of-use assets for operating leases 168,880 178,861 Goodwill and intangible assets 49,866 45,811 Notes receivable, less current portion 45,205 41,109 Total assets 852,185 826,139 Operating lease liability, current portion 20,704 16,967 Long term debt, current portion 2,953 2,865 Total current liabilities 207,932 229,671 Operating lease liability 164,780 174,838 Long-term debt 127,781 84,234 Total liabilities 512,280 498,029 Stockholders’ equity 339,905 328,110 Total liabilities & equity $ 852,185 $ 826,139 6 Mos. 3/31/26 6 Mos. 3/31/25 Net cash provided by operating activities $ 7,069 $ 22,173 Purchase of property and equipment (52,661) (14,292) Purchase of investments (53,236) (39,691) Proceeds received upon maturity of investments 23,668 — Net cash used in investing activities (83,446) (53,983) Proceeds from revolving credit facility 100,000 — Payments on revolving credit facility (55,000) (30,000) Payment of term loans and finance leases (1,411) (1,329) Payment of payroll taxes on stock-based compensation through shares withheld (7,735) (4,479) Net cash used in financing activities 35,854 (35,149) Change in cash and restricted cash (40,523) (66,959) Ending balance of cash and restricted cash $ 93,607 $ 100,513

11 Earnings Per Share Trend and Guidance ($ in thousands, except EPS) Guidance Actual Actual Actual Actual Actual Actual Actual Fiscal 2026 Midpoint 3 Mos. 3/31/26 3 Mos. 12/31/25 12 Mos. 9/30/25 3 Mos. 9/30/25 3 Mos. 6/30/25 3 Mos. 3/31/25 3 Mos. 12/31/24 Net Income ~$40,000-45,000 $ 433 $ 12,827 $ 63,018 $ 18,756 $ 10,663 $ 11,446 $ 22,153 Weighted average basic shares outstanding ~55,000 55,033 54,570 54,301 54,425 54,412 54,383 53,987 Basic income per common share ~$0.73-0.82 $ 0.01 $ 0.24 $ 1.16 $ 0.34 $ 0.20 $ 0.21 $ 0.41 Weighted average basic shares outstanding ~55,000 55,033 54,570 54,301 54,425 54,412 54,383 53,987 Dilutive effect related to employee stock plans ~1,300 697 1,175 1,314 1,303 1,223 1,059 1,419 Weighted average diluted shares outstanding ~56,300 55,730 55,745 55,615 55,728 55,635 55,442 55,406 Diluted income per common share ~$0.71-0.80 $ 0.01 $ 0.23 $ 1.13 $ 0.34 $ 0.19 $ 0.21 $ 0.40

12 Leverage Ratios Leverage as of 3/31/2026 Current Loan Balances $130.7M LTM EBITDA $103.3M Cash, Cash Equivalents, and Short-Term Investments $162.0M Gross Leverage Ratio 1.27x Net Leverage Ratio (0.30)x Proforma Leverage 9/30/2026 Note Balances, net (Projected) ~$64.3M LTM EBITDA - FY 2026 Guidance Midpoint ~$116.5M Cash, Cash Equivalents, and Short-Term Investments (Projected) ~$170.0M Gross Leverage Ratio ~0.55x Net Leverage Ratio ~(0.91)x 9/30/2026 proforma leverage calculation is based upon midpoint of the adjusted EBITDA guidance range and projected year-end cash balance, both of which will depend on actual company performance. For a detailed reconciliation of Non-GAAP measures, see slides 14-18. Note: FY2026 proforma cash and debt balances assume the revolving credit facility is not drawn on at year end; however, use of the revolver will continue to be evaluated throughout the year and used as needed to satisfy regulatory requirements &/or debt covenants. Any change to the outstanding revolver balance would affect gross leverage but have no impact on net leverage. Debt as of 3/31/2026 Term Loan: Avondale Campus Original Note Amount $31.2M Inception Date 5/12/2021 Rate* Fixed/Floating Maturity 7 years Current Note Balance $27.0M Term Loan: Lisle Campus Original Note Amount $38.0M Inception Date 4/14/2022 Rate** Fixed/Floating Maturity 7 years Current Note Balance $35.6M Revolving Credit Facility Total Capacity $125.0M Inception Date 11/21/2022 Rate*** Floating Maturity 5 years Current Loan Balance $65.0M *Avondale rate is 50% fixed at 1.45% + 50% Floating @ SOFR plus 2% Margin and a tranche adjustment of 0.046% **Lisle rate is 50% fixed at 4.69% + 50% Floating @ SOFR plus 2% Margin ***Revolver rate is SOFR plus 1.75% to 2.25% Margin based on UTI's Total Leverage

13 In addition to disclosing financial results that are determined in accordance with U.S. generally accepted accounting principles ("GAAP"), the Company also discloses certain non-GAAP financial information. These financial measures are not recognized measures under GAAP and are not intended to be and should not be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. The Company discloses these non-GAAP financial measures because it believes that they provide investors an additional analytical tool to clarify its results of operations and identify underlying trends. Additionally, the Company believes that these measures may also help investors compare its performance on a consistent basis across time periods. The Company defines adjusted EBITDA as net income (loss) before interest expense, interest income, income taxes, depreciation and amortization, adjusted for stock-based compensation expense and items not considered normal recurring operations. The Company defines adjusted free cash flow as net cash provided by (used in) operating activities less capital expenditures, adjusted for items not considered normal recurring operations. Management utilizes adjusted figures as performance measures internally for operating decisions, strategic planning, annual budgeting and forecasting. For the periods presented, our adjustments for items that management does not consider to be normal recurring operations include: • Acquisition-related costs: We have excluded costs associated with both potential and announced acquisitions to allow for comparable financial results to historical operations and forward-looking guidance. • Integration-related costs for completed acquisitions: We have excluded integration costs related to business structure realignment and new programs for recent acquisitions to allow for comparable financial results to historical operations and forward-looking guidance. In addition, the nature and amount of such charges vary significantly based on the size and timing of the programs. By excluding the referenced expenses from our non-GAAP financial measures, our management is able to further evaluate our ability to utilize existing assets and estimate their long-term value. Furthermore, our management believes that the adjustment of these items supplements the GAAP information with a measure that can be used to assess the sustainability of our operating performance. • Restructuring costs: In December 2023, we announced plans to consolidate the two Houston, Texas campus locations to align the curriculum, student facing systems, and support services to better serve students seeking careers in in-demand fields. As part of the transition, the MIAT-Houston campus, acquired in November 2021, began a phased teach-out in May 2024, and such campus began operating under the UTI brand. Both facilities will remain in use, operated by UTI-Houston post-consolidation. As of March 31, 2025, the only remaining cost related to this restructuring is the potential for federal loan discharges. • Facility lease accounting adjustments: During 2024, we recorded a lease accounting adjustment for a lease termination payment for the previous Concorde corporate offices. These adjustments are not considered part of normal recurring operations. To obtain a complete understanding of our performance, these measures should be examined in connection with net income (loss) and net cash provided by (used in) operating activities, determined in accordance with GAAP, as presented in the financial statements and notes thereto included in the annual and quarterly filings with the SEC. Because the items excluded from these non-GAAP measures are significant components in understanding and assessing our financial performance under GAAP, these measures should not be considered to be an alternative to net income (loss) or net cash provided by (used in) operating activities as a measure of our operating performance or liquidity. Exclusion of items in the non-GAAP presentation should not be construed as an inference that these items are unusual, infrequent or non-recurring. Other companies, including other companies in the education industry, may define and calculate non-GAAP financial measures differently than we do, limiting their usefulness as a comparative measure across similarly titled performance measures presented by other companies. A reconciliation of the historical non-GAAP financial measures to the most directly comparable GAAP measures is included in the following slides and investors are encouraged to review the reconciliations. Information reconciling forward-looking adjusted EBITDA and adjusted free cash flow to the most directly comparable GAAP financial measure is unavailable to the company without unreasonable effort. The company is not able to provide a quantitative reconciliation of forward-looking adjusted EBITDA or adjusted free cash flow to the most directly comparable GAAP financial measure because certain items required for such reconciliation are uncertain, outside of the company’s control and/or cannot be reasonably predicted, including but not limited to the provision for (benefit from) income taxes. Preparation of such reconciliation would require a forward-looking statement of income and statement of cash flows prepared in accordance with GAAP, and such forward-looking financial statements are unavailable to the company without unreasonable effort. Use of Non-GAAP Financial Information

14 QUARTER-TO-DATE 3 Mos. 3/31/26 3 Mos. 12/31/25 12 Mos. 9/30/25 3 Mos. 9/30/25 3 Mos. 6/30/25 3 Mos. 3/31/25 3 Mos. 12/31/24 12 Mos. 9/30/24 Net income, as reported $ 433 $ 12,827 $ 63,018 $ 18,756 $ 10,663 $ 11,446 $ 22,153 $ 42,001 Interest (income) expense, net (67) (575) (540) (431) (51) 28 (86) 3,157 Income tax (benefit) expense (50) 3,385 21,256 6,803 3,689 5,388 5,376 14,229 Depreciation and amortization 9,045 8,905 32,958 8,506 8,315 8,138 7,999 29,324 EBITDA $ 9,361 $ 24,542 $ 116,692 $ 33,634 $ 22,616 $ 25,000 $ 35,442 $ 88,711 Stock-based compensation expense 3,901 2,555 9,151 2,749 2,658 3,024 720 8,560 Integration related costs for completed acquisitions(1) 884 51 (304) 396 — — (700) 6,049 Acquisition related costs(2) — — 873 — — 873 — — Restructuring costs(3) — — 43 — — — 43 185 Facility lease accounting adjustments(4) — — — — — — — (650) Adjusted EBITDA, non-GAAP $ 14,146 $ 27,148 $ 126,455 $ 36,779 $ 25,274 $ 28,897 $ 35,505 $ 102,855 Consolidated Adjusted EBITDA Reconciliation ($ in thousands) 1. In fiscal 2025, the Company received $0.7 million in funds in final settlement of the outstanding escrow accounts affiliated with the purchase of Concorde on December 1, 2022. This is offset by additional integration costs incurred during the year. 2. Costs related to both announced and potential acquisition targets. 3. In December 2023, the Company announced plans to consolidate its MIAT-Houston and UTI-Houston operations beginning in fiscal 2024 which was completed in Q1 fiscal 2025. As of March 31, 2025, the only remaining costs related to this restructuring is the potential for federal loan discharges. 4. Lease accounting adjustment for a lease termination payment for the previous Concorde corporate offices.

15 YEAR-TO-DATE 6 Mos. 3/31/26 3 Mos. 12/31/25 12 Mos. 9/30/25 9 Mos. 6/30/25 6 Mos. 3/31/25 3 Mos. 12/31/24 12 Mos. 9/30/24 Net income, as reported $ 13,260 $ 12,827 $ 63,018 $ 44,262 $ 33,599 $ 22,153 $ 42,001 Interest (income) expense, net (642) (575) (540) (109) (58) (86) 3,157 Income tax expense 3,335 3,385 21,256 14,453 10,764 5,376 14,229 Depreciation and amortization 17,950 8,905 32,958 24,452 16,137 7,999 29,324 EBITDA $ 33,903 $ 24,542 $ 116,692 $ 83,058 $ 60,442 $ 35,442 $ 88,711 Stock-based compensation expense 6,456 2,555 9,151 6,402 3,744 720 8,560 Integration related costs for completed acquisitions(1) 935 51 (304) (700) (700) (700) 6,049 Acquisition related costs(2) — — 873 873 873 — — Restructuring costs(3) — — 43 43 43 43 185 Facility lease accounting adjustments(4) — — — — — — (650) Adjusted EBITDA, non-GAAP $ 41,294 $ 27,148 $ 126,455 $ 89,676 $ 64,402 $ 35,505 $ 102,855 Consolidated Adjusted EBITDA Reconciliation ($ in thousands) 1. In fiscal 2025, the Company received $0.7 million in funds in final settlement of the outstanding escrow accounts affiliated with the purchase of Concorde on December 1, 2022. This is offset by additional integration costs incurred during the year. 2. Costs related to both announced and potential acquisition targets. 3. In December 2023, the Company announced plans to consolidate its MIAT-Houston and UTI-Houston operations beginning in fiscal 2024 which was completed in Q1 fiscal 2025. As of March 31, 2025, the only remaining costs related to this restructuring is the potential for federal loan discharges. 4. Lease accounting adjustment for a lease termination payment for the previous Concorde corporate offices.

16 Adjusted EBITDA Reconciliation By Segment ($ in thousands) QUARTER-TO-DATE 3 Mos. 3/31/26 3 Mos. 3/31/25 3 Mos. 3/31/26 3 Mos. 3/31/25 3 Mos. 3/31/26 3 Mos. 3/31/25 UTI UTI Concorde Concorde Corporate Corporate Net income (loss), as reported $ 3,399 $ 16,468 $ (245) $ 3,725 $ (2,721) $ (8,747) Interest expense (income), net 785 1,262 45 45 (897) (1,279) Income tax (benefit) expense — — — — (50) 5,388 Depreciation and amortization 6,642 5,971 2,073 1,850 330 317 EBITDA $ 10,826 $ 23,701 $ 1,873 $ 5,620 $ (3,338) $ (4,321) Stock-based compensation expense 495 503 283 189 3,123 2,332 Integration related costs for completed acquisitions — — — — 884 — Acquisition related costs(1) — — — — — 873 Adjusted EBITDA, non-GAAP $ 11,321 $ 24,204 $ 2,156 $ 5,809 $ 669 $ (1,116) 1. Costs related to both announced and potential acquisition targets.

17 Adjusted EBITDA Reconciliation By Segment ($ in thousands) YEAR-TO-DATE 6 Mos. 3/31/26 6 Mos. 3/31/25 6 Mos. 3/31/26 6 Mos. 3/31/25 6 Mos. 3/31/26 6 Mos. 3/31/25 UTI UTI Concorde Concorde Corporate Corporate Net income (loss), as reported $ 18,404 $ 37,876 $ 3,554 $ 10,508 $ (8,698) $ (14,785) Interest expense (income), net 1,634 2,394 37 75 (2,313) (2,527) Income tax expense — — — — 3,335 10,764 Depreciation and amortization 13,042 11,942 4,240 3,559 668 636 EBITDA $ 33,080 $ 52,212 $ 7,831 $ 14,142 $ (7,008) $ (5,912) Stock-based compensation expense 979 906 499 268 4,978 2,570 Integration related costs for completed acquisitions(1) — — — — 935 (700) Acquisition related costs(2) — — — — — 873 Restructuring costs(3) — 43 — — — — Adjusted EBITDA, non-GAAP $ 34,059 $ 53,161 $ 8,330 $ 14,410 $ (1,095) $ (3,169) 1. In fiscal 2025, the Company received $0.7 million in funds in final settlement of the outstanding escrow accounts affiliated with the purchase of Concorde on December 1, 2022. This is offset by additional integration costs incurred during the year. 2. Costs related to both announced and potential acquisition targets. 3. In December 2023, the Company announced plans to consolidate its MIAT-Houston and UTI-Houston operations beginning in fiscal 2024 which was completed in Q1 fiscal 2025. As of March 31, 2025, the only remaining costs related to this restructuring is the potential for federal loan discharges.

18 3 Mos. 3/31/26 3 Mos. 3/31/25 6 Mos. 3/31/26 6 Mos. 3/31/25 Cash flow provided by operating activities, as reported $3,985 $(789) $7,069 $22,173 Purchase of property and equipment (30,419) (10,947) (52,661) (14,292) Free cash flow, non-GAAP $(26,434) $(11,736) $(45,592) $7,881 Adjustments: Cash outflow (inflow) for integration-related costs for completed acquisitions(1) 1,389 — 1,440 (700) Cash outflow for acquisition-related costs(2) — 761 — 761 Cash outflow for restructuring costs and property and equipment(3) — 27 — 55 Adjusted free cash flow, non-GAAP $(25,045) $(10,948) $(44,152) $7,997 1. In fiscal 2025, the Company received $0.7 million in funds in final settlement of the outstanding escrow accounts affiliated with the purchase of Concorde on December 1, 2022. This is offset by additional integration costs incurred during the year. 2. Costs related to both announced and potential acquisition targets. 3. In December 2023, the Company announced plans to consolidate its MIAT-Houston and UTI-Houston operations beginning in fiscal 2024 which was completed in Q1 fiscal 2025. As of March 31, 2025, the only remaining costs related to this restructuring is the potential for federal loan discharges. Consolidated Adjusted Free Cash Flow ($ in thousands)

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Source: View Original Filing on SEC EDGAR

FAQ

How did Universal Technical Institute (UTI) perform financially in Q2 fiscal 2026?

Universal Technical Institute generated revenue of $221.4 million in Q2 fiscal 2026, up 6.7% from $207.4 million a year earlier. Net income was $0.4 million, down from $11.4 million, as the company absorbed significant strategic growth expenses tied to new campuses and programs.

What happened to UTI’s profitability and adjusted EBITDA in Q2 fiscal 2026?

Profitability declined as UTI invested heavily in growth. Net income fell to $0.4 million from $11.4 million, while adjusted EBITDA dropped 51.0% to $14.1 million from $28.9 million. Management attributes the compression mainly to about $11 million of strategic growth investments in the quarter.

How are student enrollment trends at UTI and Concorde in Q2 fiscal 2026?

Student trends were strong. Average full-time active students rose 7.2% year over year to 26,385, and total new student starts increased 13.8% to 7,569. Both the UTI and Concorde divisions contributed to these gains, supporting the company’s revenue growth and long-term expansion strategy.

What is UTI’s liquidity and debt position as of March 31, 2026?

As of March 31, 2026, UTI had total available liquidity of $202.4 million, including $87.2 million in cash and cash equivalents, $74.8 million in short-term investments, and $40.4 million of unused revolver capacity. Total debt stood at $130.7 million, including $65.0 million drawn on the revolving credit facility.

Did Universal Technical Institute reaffirm its fiscal 2026 guidance?

Yes. Based on performance through the first half of fiscal 2026, UTI reaffirmed its full-year guidance. It continues to target revenue of $905–$915 million, net income of $40–$45 million, diluted EPS of $0.71–$0.80, and adjusted EBITDA of $114–$119 million for fiscal 2026.

What are UTI’s key long-term financial targets under the North Star strategy?

Under its North Star strategy, UTI aims by fiscal 2029 to surpass $1.2 billion in annual revenue and approach $220 million in adjusted EBITDA. These goals are based on organic growth, new campuses, program expansions, and selective acquisitions across transportation, skilled trades, and healthcare education.

Filing Exhibits & Attachments

6 documents

Universal Technical Institute (NYSE: UTI) grows Q2 revenue but margins tighten

Rhea-AI Filing Summary

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8-K Event Classification

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Earnings Snapshot

FAQ

How did Universal Technical Institute (UTI) perform financially in Q2 fiscal 2026?

What happened to UTI’s profitability and adjusted EBITDA in Q2 fiscal 2026?

How are student enrollment trends at UTI and Concorde in Q2 fiscal 2026?

What is UTI’s liquidity and debt position as of March 31, 2026?

Did Universal Technical Institute reaffirm its fiscal 2026 guidance?

What are UTI’s key long-term financial targets under the North Star strategy?

Filing Exhibits & Attachments

Press Releases

Other Documents

Universal Technical Institute (NYSE: UTI) grows Q2 revenue but margins tighten

Rhea-AI Filing Summary

Positive

Negative

Insights

Education sector equity analyst neutral

8-K Event Classification

Key Figures

Key Terms

Earnings Snapshot

FAQ

How did Universal Technical Institute (UTI) perform financially in Q2 fiscal 2026?

What happened to UTI’s profitability and adjusted EBITDA in Q2 fiscal 2026?

How are student enrollment trends at UTI and Concorde in Q2 fiscal 2026?

What is UTI’s liquidity and debt position as of March 31, 2026?

Did Universal Technical Institute reaffirm its fiscal 2026 guidance?

What are UTI’s key long-term financial targets under the North Star strategy?

Filing Exhibits & Attachments

Press Releases

Other Documents