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LINC · XBRL financial data

Lincoln Educational Services financial statements, every quarter

The same tables from 12 filings, lined up. Matched by XBRL tag: renamed lines keep their history.

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How these numbers work
  • Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
  • Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
  • * marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
  • 0 means a filing states zero; a dash (—) means no filing states that number.
  • “year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
  • Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
  • Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
  • Shares outstanding come from each filing's cover page, as of the date printed there.
  • Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.

Income statement

CSV

Fiscal quarters (LINC's year ends in late December)

In thousands of dollarsSep 30, 2023Dec 31, 2023Mar 31, 2024Jun 30, 2024Sep 30, 2024Dec 31, 2024Mar 31, 2025Jun 30, 2025Sep 30, 2025Dec 31, 2025Mar 31, 2026Jun 30, 2026
Revenue from contracts with customers99,618102,522*103,366102,914114,410119,373*117,506116,474141,389142,872*143,957142,560
Cost of goods and services sold43,12941,024*43,02345,56148,05545,120*47,40946,79157,28353,906*58,39259,632
Selling, general and administrative54,48552,532*60,49257,86563,33962,106*66,90467,06177,81171,171*79,15279,649
General and administrative—year only22,81920,87222,15123,600*28,96928,48428,41628,417*34,08330,832
Operating income (loss)1,9968,961*(458)(1,116)5,82210,929*3,4132,8786,28517,735*6,4073,312
Interest income878737*698638464299*1141101*307
Interest expense21273*567667659672*701813991889*8371,058
Income tax expense (benefit)7892,633*(113)(463)1,6743,722*8825221,4953,221*1,244315
Net income (loss)2,0646,792*(214)(682)3,9536,834*1,9441,5543,79912,700*4,3561,946
Earnings per share, basic USD per share0.070.23*(0.01)(0.02)0.130.22*0.060.050.12—0.140.06
Earnings per share, diluted USD per share0.070.22*(0.01)(0.02)0.130.22*0.060.050.12—0.140.06
Weighted average shares, basic thousands of shares30,16430,077*30,30130,66030,68230,676*30,80930,99031,000—31,13031,258
Weighted average shares, diluted thousands of shares30,69831,016*30,30130,66031,04231,551*31,07431,27131,318—31,33231,419

Balance sheet

CSV

Fiscal quarters (LINC's year ends in late December)

In thousands of dollarsSep 30, 2023Dec 31, 2023Mar 31, 2024Jun 30, 2024Sep 30, 2024Dec 31, 2024Mar 31, 2025Jun 30, 2025Sep 30, 2025Dec 31, 2025Mar 31, 2026Jun 30, 2026
Cash and cash equivalents41,71775,99268,55466,98753,96259,27328,65516,70113,48028,51916,69044,178
Short-term investments24,3440——————————
Accounts receivable40,26135,69240,48443,58153,12142,98347,27847,25651,13136,92941,73445,871
Inventory2,9352,9482,4192,3452,7113,0532,3944,5043,0933,9862,4884,077
Prepaid and other current assets6,9455,5566,0714,0903,6384,7938,0518,3748,1977,8726,8634,613
Total current assets130,676134,663118,749119,391115,438111,25286,37879,62977,33287,03276,403106,249
Property and equipment, net38,40250,85752,00559,49575,495103,533125,646149,142160,490171,603179,352190,686
Right-of-use asset92,86689,923102,797106,603129,838136,034133,462132,713142,093154,223151,209151,565
Goodwill10,74210,74210,74210,74210,74210,74210,74210,74210,74210,74210,74210,742
Total assets315,778345,249355,163366,379404,022436,556427,432447,321466,939493,164486,734529,780
Accounts payable17,58218,15214,28219,00127,85537,02634,35933,99035,07427,02328,25330,677
Accrued liabilities12,67013,6809,20611,61112,28311,9868,84915,43816,79918,43013,81616,695
Total current liabilities66,10073,41059,88266,89273,45590,21283,10288,25295,879100,70992,299110,953
Long-term debt—————0—13,0008,00005,00026,000
Lease liability, non-current91,89188,853101,927105,929131,245138,803136,181134,494146,429162,113160,089160,074
Total liabilities158,613178,445190,670201,523234,059258,292249,652266,643281,085293,476287,906327,391
Retained earnings62,48769,27969,06568,38372,33679,17081,11482,66986,46799,168103,524105,470
Total stockholders' equity157,165166,804164,493164,856169,963178,264177,780180,678185,854199,688198,828202,389
Total liabilities and equity315,778345,249355,163366,379404,022436,556427,432447,321466,939493,164486,734529,780
Common shares outstanding (cover page) thousands of shares31,35931,75931,44431,47531,47931,59331,59331,61831,62431,87931,72131,721

Cash flows

CSV

Fiscal quarters (LINC's year ends in late December)

In thousands of dollarsSep 30, 2023Dec 31, 2023Mar 31, 2024Jun 30, 2024Sep 30, 2024Dec 31, 2024Mar 31, 2025Jun 30, 2025Sep 30, 2025Dec 31, 2025Mar 31, 2026Jun 30, 2026
Net income (loss)2,0646,792*(214)(682)3,9536,834*1,9441,5543,79912,700*4,3561,946
Stock-based compensation662*1,844*1,0591,045*1,250*1,275*1,2051,343*1,533*1,407*1,4441,615*
Depreciation and amortization1,724*1,940*2,5992,902*2,811*3,022*3,3454,292*5,043*6,481*7,2147,373*
Net cash from operating activities(6,791)*21,946*(14,934)8,335*5,606*30,299*(8,378)299*23,882*43,508*4,56622,067*
Purchases of property and equipment17,784*12,014*1,68411,041*19,369*24,772*19,88926,387*21,851*18,506*14,62814,504*
Net cash from investing activities(17,784)*12,330*8,034(11,041)*(19,192)*(24,772)*(19,640)(26,132)*(21,861)*(18,566)*(14,634)(14,471)*
Share repurchases0*0*00*0*0*——————
Proceeds from long-term debt————0*0*025,000*20,000*0*33,00037,000*
Repayments of long-term debt————0*0*012,000*25,000*8,000*28,00016,000*
Net cash from financing activities0*0*(3,594)(82)*561*(216)*(2,600)13,879*(5,242)*(9,903)*(1,761)19,892*

Compare with peers

SIC 8200 and related industry codes, similar size. Each row is the latest quarter reported.

How peers are chosen
  • SIC 8200 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
  • Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
  • Runway shows only for companies burning cash with under $10B of public float.
  • * marks a quarter worked out from the filing totals: for a 10-K, the year less the first three quarters; for a 10-Q, the year-to-date total less the earlier one.
  • A cell reading “not reported” means the filings give no figure for that quarter alone.
CompanyCash ($K)Revenue, quarter ($K)Operating cash flow, quarter ($K)Shares outstandingRunwayQuarter
Lincoln Educational Services44,178142,56022,067*31.7M— 10-QJun 30, 2026
Udemy252,563not reported15,440146.3M— 10-QMar 31, 2026
American Public Education146,548171,73112,137*18.3M— 10-QJun 30, 2026
Universal Technical Institute130,060218,90710,333*55.1M— 10-QJun 30, 2026
Perdoceo Education162,889213,35574,629*62.6M— 10-QJun 30, 2026
Phoenix Education Partners159,363260,680*79,643*36.7M— 10-KAug 31, 2026
Stride547,750639,378(124,787)42.0M6.3 quarters 10-QSep 30, 2026
Strategic Education123,755337,26429,176*22.2M— 10-QJun 30, 2026
Laureate Education189,904485,085151,746*135.7M— 10-QSep 30, 2026

Not investment advice. Not affiliated with the U.S. SEC.