Filing Flows › Lincoln Educational Services (LINC) › Q1 2025
Lincoln Educational Services (LINC) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 12, 2025
Lincoln Educational Services (LINC) reported revenue of $118M for the first quarter 2025 (Q1 2025), +14% from a year earlier and -2% from the quarter before. Operating margin was 2.9%, net earnings $1.9M (1.7% of revenue).
Lincoln Educational Services, Q1 2025: revenue $118M (+14% year over year), operating margin 2.9%, net earnings $1.9M, operating cash flow −$8.4M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $118M | -2% | +14% |
| Operating profit | $3.4M | -69% | — |
| Net earnings | $1.9M | -72% | — |
| Operating cash flow | −$8.4M | -128% | — |
What changed
Revenue was $117.5M in Q1 2025, up 14% year over year and down 2% from the previous quarter.
Operating profit was $3.4M, a 2.9% margin (up 3.3 points year over year). Total costs grew 10% against revenue growth of 14%. The fastest-growing cost line was SG&A (+11%). Net earnings were $1.9M. The effective tax rate was 31.2%.
Operating cash flow was −$8.4M. Non-cash charges added back $3.3M of depreciation and amortization and $1.2M of share-based compensation. Working capital and other items used $14.9M. Capital expenditures of $19.9M exceeded it, leaving free cash flow of −$28.3M.
Questions
What was Lincoln Educational Services' revenue in the first quarter 2025?
Lincoln Educational Services (LINC) reported revenue of $118M for the first quarter 2025 (Q1 2025), +14% from a year earlier and -2% from the quarter before.
Was Lincoln Educational Services profitable in the first quarter 2025?
Operating profit was $3.4M (2.9% of revenue) and net earnings $1.9M.