# Lincoln Educational Services Corp: financial statements, quarterly

LINC · Nasdaq · CIK 1286613 · [Other](/sectors/other.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/linc.md) · [Financials](/companies/linc/financials.md) · [Filings](/companies/linc/filings.md) · [Insiders](/companies/linc/insiders.md)

Standardized line items from XBRL company facts. Each value links to its filing; d marks a value derived from year-to-date figures. Other view: [annual](/companies/linc/financials.md?period=annual).

## Income statement

| Line item | Unit | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [99.6](/filings/0001140361-24-046113.md) | [103 d](/filings/0001140361-26-007380.md) | [103](/filings/0001140361-25-018385.md) | [103](/filings/0001140361-25-030226.md) | [114](/filings/0001140361-25-041363.md) | [119 d](/filings/0001140361-26-007380.md) | [118](/filings/0001140361-26-020546.md) | [116](/filings/0001140361-26-031995.md) | [141](/filings/0001140361-25-041363.md) | [143 d](/filings/0001140361-26-007380.md) | [144](/filings/0001140361-26-020546.md) | [143](/filings/0001140361-26-031995.md) |
| Cost of revenue | $m | [43.1](/filings/0001140361-24-046113.md) | [41.0 d](/filings/0001140361-26-007380.md) | [43.0](/filings/0001140361-25-018385.md) | [45.6](/filings/0001140361-25-030226.md) | [48.1](/filings/0001140361-25-041363.md) | [45.1 d](/filings/0001140361-26-007380.md) | [47.4](/filings/0001140361-26-020546.md) | [46.8](/filings/0001140361-26-031995.md) | [57.3](/filings/0001140361-25-041363.md) | [53.9 d](/filings/0001140361-26-007380.md) | [58.4](/filings/0001140361-26-020546.md) | [59.6](/filings/0001140361-26-031995.md) |
| Selling, general and administrative | $m | [54.5](/filings/0001140361-24-046113.md) | [52.5 d](/filings/0001140361-26-007380.md) | [60.5](/filings/0001140361-25-018385.md) | [57.9](/filings/0001140361-25-030226.md) | [63.3](/filings/0001140361-25-041363.md) | [62.1 d](/filings/0001140361-26-007380.md) | [66.9](/filings/0001140361-26-020546.md) | [67.1](/filings/0001140361-26-031995.md) | [77.8](/filings/0001140361-25-041363.md) | [71.2 d](/filings/0001140361-26-007380.md) | [79.2](/filings/0001140361-26-020546.md) | [79.6](/filings/0001140361-26-031995.md) |
| Operating income | $m | [2.0](/filings/0001140361-24-046113.md) | [9.0 d](/filings/0001140361-26-007380.md) | [(0.5)](/filings/0001140361-25-018385.md) | [(1.1)](/filings/0001140361-25-030226.md) | [5.8](/filings/0001140361-25-041363.md) | [10.9 d](/filings/0001140361-26-007380.md) | [3.4](/filings/0001140361-26-020546.md) | [2.9](/filings/0001140361-26-031995.md) | [6.3](/filings/0001140361-25-041363.md) | [17.7 d](/filings/0001140361-26-007380.md) | [6.4](/filings/0001140361-26-020546.md) | [3.3](/filings/0001140361-26-031995.md) |
| Interest expense | $m | [0.0](/filings/0001140361-24-046113.md) | [0.3 d](/filings/0001140361-26-007380.md) | [0.6](/filings/0001140361-25-018385.md) | [0.7](/filings/0001140361-25-030226.md) | [0.7](/filings/0001140361-25-041363.md) | [0.7 d](/filings/0001140361-26-007380.md) | [0.7](/filings/0001140361-26-020546.md) | [0.8](/filings/0001140361-26-031995.md) | [1.0](/filings/0001140361-25-041363.md) | [0.9 d](/filings/0001140361-26-007380.md) | [0.8](/filings/0001140361-26-020546.md) | [1.1](/filings/0001140361-26-031995.md) |
| Income tax | $m | [0.8](/filings/0001140361-24-046113.md) | [2.6 d](/filings/0001140361-26-007380.md) | [(0.1)](/filings/0001140361-25-018385.md) | [(0.5)](/filings/0001140361-25-030226.md) | [1.7](/filings/0001140361-25-041363.md) | [3.7 d](/filings/0001140361-26-007380.md) | [0.9](/filings/0001140361-26-020546.md) | [0.5](/filings/0001140361-26-031995.md) | [1.5](/filings/0001140361-25-041363.md) | [3.2 d](/filings/0001140361-26-007380.md) | [1.2](/filings/0001140361-26-020546.md) | [0.3](/filings/0001140361-26-031995.md) |
| Net income | $m | [2.1](/filings/0001140361-24-046113.md) | [6.8 d](/filings/0001140361-26-007380.md) | [(0.2)](/filings/0001140361-25-041363.md) | [(0.7)](/filings/0001140361-25-041363.md) | [4.0](/filings/0001140361-25-041363.md) | [6.8 d](/filings/0001140361-26-007380.md) | [1.9](/filings/0001140361-26-031995.md) | [1.6](/filings/0001140361-26-031995.md) | [3.8](/filings/0001140361-25-041363.md) | [12.7 d](/filings/0001140361-26-007380.md) | [4.4](/filings/0001140361-26-031995.md) | [1.9](/filings/0001140361-26-031995.md) |
| Diluted EPS | $ per share | [0.07](/filings/0001140361-24-046113.md) | not reported | [(0.01)](/filings/0001140361-25-018385.md) | [(0.02)](/filings/0001140361-25-030226.md) | [0.13](/filings/0001140361-25-041363.md) | not reported | [0.06](/filings/0001140361-26-020546.md) | [0.05](/filings/0001140361-26-031995.md) | [0.12](/filings/0001140361-25-041363.md) | not reported | [0.14](/filings/0001140361-26-020546.md) | [0.06](/filings/0001140361-26-031995.md) |
| Basic EPS | $ per share | [0.07](/filings/0001140361-24-046113.md) | not reported | [(0.01)](/filings/0001140361-25-018385.md) | [(0.02)](/filings/0001140361-25-030226.md) | [0.13](/filings/0001140361-25-041363.md) | not reported | [0.06](/filings/0001140361-26-020546.md) | [0.05](/filings/0001140361-26-031995.md) | [0.12](/filings/0001140361-25-041363.md) | not reported | [0.14](/filings/0001140361-26-020546.md) | [0.06](/filings/0001140361-26-031995.md) |

- Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
- Cost of revenue: us-gaap:CostOfGoodsAndServicesSold
- Selling, general and administrative: us-gaap:SellingGeneralAndAdministrativeExpense
- Operating income: us-gaap:OperatingIncomeLoss
- Interest expense: us-gaap:InterestExpense
- Income tax: us-gaap:IncomeTaxExpenseBenefit
- Net income: us-gaap:NetIncomeLoss
- Diluted EPS: us-gaap:EarningsPerShareDiluted
- Basic EPS: us-gaap:EarningsPerShareBasic

## Balance sheet

| Line item | Unit | Q3 FY2023 (2023-09-30) | FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | $m | [41.7](/filings/0001140361-23-051555.md) | [76.0](/filings/0001140361-25-006937.md) | [68.6](/filings/0001140361-24-024558.md) | [67.0](/filings/0001140361-24-036418.md) | [54.0](/filings/0001140361-24-046113.md) | [59.3](/filings/0001140361-26-007380.md) | [28.7](/filings/0001140361-25-018385.md) | [16.7](/filings/0001140361-25-030226.md) | [13.5](/filings/0001140361-25-041363.md) | [28.5](/filings/0001140361-26-031995.md) | [16.7](/filings/0001140361-26-020546.md) | [44.2](/filings/0001140361-26-031995.md) |
| Current assets | $m | [131](/filings/0001140361-23-051555.md) | [135](/filings/0001140361-25-006937.md) | [119](/filings/0001140361-24-024558.md) | [119](/filings/0001140361-24-036418.md) | [115](/filings/0001140361-24-046113.md) | [111](/filings/0001140361-26-007380.md) | [86.4](/filings/0001140361-25-018385.md) | [79.6](/filings/0001140361-25-030226.md) | [77.3](/filings/0001140361-25-041363.md) | [87.0](/filings/0001140361-26-031995.md) | [76.4](/filings/0001140361-26-020546.md) | [106](/filings/0001140361-26-031995.md) |
| Total assets | $m | [316](/filings/0001140361-23-051555.md) | [345](/filings/0001140361-25-006937.md) | [355](/filings/0001140361-24-024558.md) | [366](/filings/0001140361-24-036418.md) | [404](/filings/0001140361-24-046113.md) | [437](/filings/0001140361-26-007380.md) | [427](/filings/0001140361-25-018385.md) | [447](/filings/0001140361-25-030226.md) | [467](/filings/0001140361-25-041363.md) | [493](/filings/0001140361-26-031995.md) | [487](/filings/0001140361-26-020546.md) | [530](/filings/0001140361-26-031995.md) |
| Current liabilities | $m | [66.1](/filings/0001140361-23-051555.md) | [73.4](/filings/0001140361-25-006937.md) | [59.9](/filings/0001140361-24-024558.md) | [66.9](/filings/0001140361-24-036418.md) | [73.5](/filings/0001140361-24-046113.md) | [90.2](/filings/0001140361-26-007380.md) | [83.1](/filings/0001140361-25-018385.md) | [88.3](/filings/0001140361-25-030226.md) | [95.9](/filings/0001140361-25-041363.md) | [101](/filings/0001140361-26-031995.md) | [92.3](/filings/0001140361-26-020546.md) | [111](/filings/0001140361-26-031995.md) |
| Total liabilities | $m | [159](/filings/0001140361-23-051555.md) | [178](/filings/0001140361-25-006937.md) | [191](/filings/0001140361-24-024558.md) | [202](/filings/0001140361-24-036418.md) | [234](/filings/0001140361-24-046113.md) | [258](/filings/0001140361-26-007380.md) | [250](/filings/0001140361-25-018385.md) | [267](/filings/0001140361-25-030226.md) | [281](/filings/0001140361-25-041363.md) | [293](/filings/0001140361-26-031995.md) | [288](/filings/0001140361-26-020546.md) | [327](/filings/0001140361-26-031995.md) |
| Long-term debt | $m | not reported | not reported | not reported | not reported | not reported | [0.0](/filings/0001140361-25-041363.md) | not reported | [13.0](/filings/0001140361-25-030226.md) | [8.0](/filings/0001140361-25-041363.md) | [0.0](/filings/0001140361-26-031995.md) | [5.0](/filings/0001140361-26-020546.md) | [26.0](/filings/0001140361-26-031995.md) |
| Current portion of debt | $m | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Shareholders' equity | $m | [157](/filings/0001140361-24-046113.md) | [167](/filings/0001140361-26-007380.md) | [164](/filings/0001140361-25-041363.md) | [165](/filings/0001140361-25-041363.md) | [170](/filings/0001140361-25-041363.md) | [178](/filings/0001140361-26-031995.md) | [178](/filings/0001140361-26-031995.md) | [181](/filings/0001140361-26-031995.md) | [186](/filings/0001140361-25-041363.md) | [200](/filings/0001140361-26-031995.md) | [199](/filings/0001140361-26-031995.md) | [202](/filings/0001140361-26-031995.md) |

- Cash and equivalents: us-gaap:CashAndCashEquivalentsAtCarryingValue
- Current assets: us-gaap:AssetsCurrent
- Total assets: us-gaap:Assets
- Current liabilities: us-gaap:LiabilitiesCurrent
- Total liabilities: us-gaap:Liabilities
- Long-term debt: us-gaap:LongTermDebtNoncurrent
- Current portion of debt: not reported
- Shareholders' equity: us-gaap:StockholdersEquity

## Cash flow

| Line item | Unit | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Operating cash flow | $m | [(6.8) d](/filings/0001140361-24-046113.md) | [21.9 d](/filings/0001140361-25-006937.md) | [(14.9)](/filings/0001140361-25-018385.md) | [8.3 d](/filings/0001140361-25-030226.md) | [5.6 d](/filings/0001140361-25-041363.md) | [30.3 d](/filings/0001140361-26-007380.md) | [(8.4)](/filings/0001140361-26-020546.md) | [0.3 d](/filings/0001140361-26-031995.md) | [23.9 d](/filings/0001140361-25-041363.md) | [43.5 d](/filings/0001140361-26-007380.md) | [4.6](/filings/0001140361-26-020546.md) | [22.1 d](/filings/0001140361-26-031995.md) |
| Capital expenditure | $m | [17.8 d](/filings/0001140361-24-046113.md) | [12.0 d](/filings/0001140361-25-006937.md) | [1.7](/filings/0001140361-25-018385.md) | [11.0 d](/filings/0001140361-25-030226.md) | [19.4 d](/filings/0001140361-25-041363.md) | [24.8 d](/filings/0001140361-26-007380.md) | [19.9](/filings/0001140361-26-020546.md) | [26.4 d](/filings/0001140361-26-031995.md) | [21.9 d](/filings/0001140361-25-041363.md) | [18.5 d](/filings/0001140361-26-007380.md) | [14.6](/filings/0001140361-26-020546.md) | [14.5 d](/filings/0001140361-26-031995.md) |
| Dividends paid | $m | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Share repurchases | $m | [0.0 d](/filings/0001140361-24-046113.md) | [0.0 d](/filings/0001140361-25-006937.md) | [0.0](/filings/0001140361-24-024558.md) | [0.0 d](/filings/0001140361-24-036418.md) | [0.0 d](/filings/0001140361-24-046113.md) | [0.0 d](/filings/0001140361-25-006937.md) | not reported | not reported | not reported | not reported | not reported | not reported |

- Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities
- Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment
- Dividends paid: not reported
- Share repurchases: us-gaap:PaymentsForRepurchaseOfCommonStock

## Shares

| Line item | Unit | Q3 FY2022 (2022-09-30) | Q1 FY2023 (2023-03-31) | Q2 FY2023 (2023-06-30) | Q3 FY2023 (2023-09-30) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Diluted shares (weighted) | millions of shares | [25.4](/filings/0001140361-23-051555.md) | [30.0](/filings/0001140361-24-024558.md) | [30.4](/filings/0001140361-24-036418.md) | [30.7](/filings/0001140361-24-046113.md) | [30.3](/filings/0001140361-25-018385.md) | [30.7](/filings/0001140361-25-030226.md) | [31.0](/filings/0001140361-25-041363.md) | [31.1](/filings/0001140361-26-020546.md) | [31.3](/filings/0001140361-26-031995.md) | [31.3](/filings/0001140361-25-041363.md) | [31.3](/filings/0001140361-26-020546.md) | [31.4](/filings/0001140361-26-031995.md) |

- Diluted shares (weighted): us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding

Shares outstanding: 31,721,479 at 2026-08-10, from the cover of the [10-Q filed 2026-08-10](/filings/0001140361-26-031995.md) (dei:EntityCommonStockSharesOutstanding).

Source: SEC EDGAR, XBRL company facts. Last ingested by Listed: Oct 24, 2026, 15:36 ET. No prices; not investment advice.