Lincoln Educational Services Corporation (LINC) — Financial statements
Income statement, balance sheet, and cash flow for Lincoln Educational Services Corporation — annual and quarterly history with growth and margin analysis.
| Metric (USD Millions) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| Revenue & Gross Profit | ||||||
| Revenue | 518↑17.8% | 440↑16.4% | 378↑8.6% | 348↑3.9% | 335 | |
| Cost of Revenue | 205↑13.0% | 182↑12.0% | 162↑9.1% | 149↑7.1% | 139 | |
| Gross Profit | 313↑21.1% | 258↑19.7% | 216↑8.1% | 200↑1.6% | 196 | |
| Operating Expenses | ||||||
| R&D Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| General & Administrative Expenses | 0.00 | 0.00↓100.0% | 171↑16.0% | 147↑8.5% | 136 | |
| Selling & Marketing Expenses | 0.00 | 0.00↓100.0% | 38↑9.1% | 35↑5.7% | 33 | |
| SG&A Expenses | 283↑16.1% | 244↑16.6% | 209↑14.7% | 182↑8.0% | 169 | |
| Other Expenses | 0.00↑100.0% | -0.68↑97.5% | -27↓3161.7% | 0.87↑104.0% | -22 | |
| Operating Expenses | 283↑16.4% | 243↑33.3% | 182↓0.5% | 183↑24.5% | 147 | |
| Total Costs & Expenses | 488↑14.9% | 425↑23.3% | 345↑3.8% | 332↑16.1% | 286 | |
| Operating Results | ||||||
| Operating Income | 30↑97.0% | 15↓54.5% | 33↑104.9% | 16↓67.0% | 49 | |
| Depreciation & Amortization | 21↑83.8% | 11↑67.4% | 7↑6.4% | 6↓10.9% | 7 | |
| EBITDA | 51↑77.3% | 29↓33.1% | 43↑86.2% | 23↓59.3% | 56 | |
| EBIT | 30↑73.1% | 17↓52.0% | 36↑116.8% | 17↓66.3% | 49 | |
| Interest & Other Income | ||||||
| Net Interest Income | -3↓601.3% | -0.47↓120.4% | 2↑1343.7% | 0.16↑107.8% | -2 | |
| Interest Income | 0.13↓94.0% | 2↓20.1% | 3↑726.4% | 0.32 | 0.00 | |
| Interest Expense | 3↑32.3% | 3↑639.2% | 0.35↑116.9% | 0.16↓92.1% | 2 | |
| Non-Operating Income | 0.00↑100.0% | -2↑20.1% | -3↓726.4% | -0.32 | 0.00 | |
| Other Income / Expenses | -4↓712.9% | -0.47↓120.4% | 2↑1343.7% | 0.16↑107.8% | -2 | |
| Income Before Tax | 26↑77.5% | 15↓58.7% | 36↑116.8% | 16↓65.2% | 47 | |
| Income Tax Expense | 6↑27.0% | 5↓50.0% | 10↑153.6% | 4↓69.7% | 13 | |
| Net Income & EPS | ||||||
| Net Income from Continuing Operations | 20↑102.2% | 10↓62.0% | 26↑105.8% | 13↓63.6% | 35 | |
| Net Income from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net Income | 20↑102.2% | 10↓62.0% | 26↑105.8% | 13↓63.6% | 35 | |
| Bottom-Line Net Income | 20↑102.2% | 10↓62.0% | 26↑182.2% | 9↓64.7% | 26 | |
| EPS (Basic) | 0.65↑103.1% | 0.32↓62.8% | 0.86↑138.9% | 0.36↓65.4% | 1.04 | |
| EPS (Diluted) | 0.65↑103.1% | 0.32↓62.4% | 0.85↑136.1% | 0.36↓65.4% | 1.04 | |
| Weighted Average Shares | 31↑1.2% | 31↑1.6% | 30↑16.3% | 26↑3.2% | 25 | |
| Weighted Average Diluted Shares | 31↑1.2% | 31↑1.1% | 31↑18.0% | 26↑3.2% | 25 | |
* All figures in Millions of USD, except per share data. Growth rates calculated Year-over-Year (YoY). Data source: SEC Filings.