Filing Flows › Lincoln Educational Services (LINC) › Q1 2026
Lincoln Educational Services (LINC) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 11, 2026
Lincoln Educational Services (LINC) reported revenue of $144M for the first quarter 2026 (Q1 2026), +23% from a year earlier and +0.8% from the quarter before. Operating margin was 4.5%, net earnings $4.4M (3.0% of revenue).
Lincoln Educational Services, Q1 2026: revenue $144M (+22% year over year), operating margin 4.5%, net earnings $4.4M, operating cash flow $4.6M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $144M | +0.8% | +23% |
| Operating profit | $6.4M | -64% | +88% |
| Net earnings | $4.4M | -66% | +124% |
| Operating cash flow | $4.6M | -90% | — |
What changed
Revenue was $144.0M in Q1 2026, up 23% year over year and up 1% from the previous quarter.
Operating profit was $6.4M, a 4.5% margin (up 1.5 points year over year). Of the extra revenue versus Q1 2025, 11% reached operating profit, above the 3% margin then. Total costs grew 21% against revenue growth of 23%. The fastest-growing cost line was Cost of revenue (+23%). Net earnings were $4.4M, up 124% year over year. The effective tax rate was 22.2%.
Operating cash flow was $4.6M, 105% of net earnings. Non-cash charges added back $7.2M of depreciation and amortization and $1.4M of share-based compensation. Working capital and other items used $8.4M. Capital expenditures of $14.6M exceeded it, leaving free cash flow of −$10.1M.
Questions
What was Lincoln Educational Services' revenue in the first quarter 2026?
Lincoln Educational Services (LINC) reported revenue of $144M for the first quarter 2026 (Q1 2026), +23% from a year earlier and +0.8% from the quarter before.
Was Lincoln Educational Services profitable in the first quarter 2026?
Operating profit was $6.4M (4.5% of revenue) and net earnings $4.4M.