Lincoln Educational Services Corporation (LINC) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Sales/Revenue | 143.96M | 142.87M | 141.39M | 116.47M | 117.51M | 119.37M | 114.41M | 102.91M | 103.37M | 102.52M | 99.62M | 88.65M | 87.28M | 91.78M | 91.81M | 82.14M | 82.55M | 87.82M | 89.06M | 80.46M |
| Revenue Growth % | 22.51% | 19.69% | 23.58% | 13.18% | 13.68% | 16.44% | 14.85% | 16.1% | 18.42% | 11.71% | 8.5% | 7.92% | 5.73% | 4.51% | 3.09% | 2.09% | 5.84% | 7.36% | 13.03% | 28.8% |
| Cost of Goods Sold | 58.39M | 53.91M | 57.28M | 46.79M | 47.41M | 45.12M | 48.05M | 45.56M | 43.02M | 41.02M | 43.13M | 40.03M | 38.09M | 36.51M | 39.93M | 36.11M | 36.2M | 34.79M | 38.1M | 33.69M |
| COGS % of Revenue | 40.56% | 37.73% | 40.51% | 40.17% | 40.35% | 37.8% | 42% | 44.27% | 41.62% | 40.01% | 43.29% | 45.16% | 43.64% | 39.78% | 43.49% | 43.96% | 43.85% | 39.61% | 42.79% | 41.87% |
| Gross Profit | 85.56M | 88.97M | 84.11M | 69.68M | 70.1M | 74.25M | 66.36M | 57.35M | 60.34M | 61.5M | 56.49M | 48.62M | 49.19M | 55.27M | 51.88M | 46.04M | 46.36M | 53.03M | 50.95M | 46.77M |
| Gross Margin % | 59.44% | 62.27% | 59.49% | 59.83% | 59.65% | 62.2% | 58% | 55.73% | 58.38% | 59.99% | 56.71% | 54.84% | 56.36% | 60.22% | 56.51% | 56.04% | 56.15% | 60.39% | 57.21% | 58.13% |
| Gross Profit Growth % | 22.07% | 19.81% | 26.75% | 21.5% | 16.16% | 20.74% | 17.47% | 17.97% | 22.67% | 11.28% | 8.88% | 5.6% | 6.11% | 4.22% | 1.82% | -1.57% | 1.55% | 5.36% | 14.4% | 29.11% |
| Operating Expenses | 79.15M | 71.17M | 77.81M | 67.06M | 66.9M | 63.32M | 60.53M | 58.47M | 60.8M | 52.54M | 54.49M | 25.1M | 50.31M | 43.94M | 47M | 45.64M | 46.68M | 18.98M | 45.21M | 43.32M |
| OpEx % of Revenue | 54.98% | 49.81% | 55.03% | 57.58% | 56.94% | 53.05% | 52.91% | 56.81% | 58.82% | 51.24% | 54.7% | 28.32% | 57.64% | 47.87% | 51.19% | 55.56% | 56.55% | 21.62% | 50.76% | 53.84% |
| Selling, General & Admin | 79.15M | 71.17M | 77.81M | 67.06M | 66.9M | 62.11M | 63.34M | 57.87M | 60.49M | 52.53M | 54.48M | 51.81M | 50.31M | 42.89M | 46.98M | 45.84M | 46.68M | 68.16M | 45.21M | 43.32M |
| SG&A % of Revenue | 54.98% | 49.81% | 55.03% | 57.58% | 56.94% | 52.03% | 55.36% | 56.23% | 58.52% | 51.24% | 54.69% | 58.45% | 57.64% | 46.73% | 51.17% | 55.8% | 56.55% | 77.62% | 50.76% | 53.84% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 1000K | -1000K | 604K | 309K | 5K | 8K | -1000K | 0 | 1000K | 16K | -195K | 0 | -1000K | 0 | 0 |
| Operating Income | 6.41M | 17.8M | 6.29M | 2.62M | 3.19M | 10.93M | 5.82M | -1.12M | -458K | 8.96M | 2M | 23.52M | -1.12M | 11.33M | 4.88M | 396K | -326K | 34.04M | 5.75M | 3.45M |
| Operating Margin % | 4.45% | 12.46% | 4.45% | 2.25% | 2.72% | 9.16% | 5.09% | -1.08% | -0.44% | 8.74% | 2% | 26.53% | -1.28% | 12.34% | 5.32% | 0.48% | -0.39% | 38.77% | 6.45% | 4.29% |
| Operating Income Growth % | 100.85% | 62.83% | 8.12% | 334.95% | 797.16% | 21.96% | 191.68% | -104.75% | 58.96% | -20.89% | -59.1% | 5838.13% | -242.33% | -66.73% | -15.06% | -88.53% | -105.42% | 205.99% | 49.61% | 197.59% |
| EBITDA | 14.04M | 24.69M | 11.76M | 7.33M | 6.96M | 13.95M | 9.05M | 2.2M | 2.51M | 10.9M | 3.72M | 25.19M | 139K | 13.07M | 6.44M | 1.93M | 1.2M | 35.56M | 7.67M | 5.24M |
| EBITDA Margin % | 9.76% | 17.28% | 8.31% | 6.29% | 5.92% | 11.69% | 7.91% | 2.14% | 2.43% | 10.63% | 3.73% | 28.42% | 0.16% | 14.24% | 7.02% | 2.34% | 1.46% | 40.5% | 8.61% | 6.52% |
| EBITDA Growth % | 101.91% | 77.01% | 29.9% | 232.62% | 177.13% | 27.98% | 143.28% | -91.25% | 1705.76% | -16.6% | -42.24% | 1208.68% | -88.44% | -63.25% | -16.05% | -63.29% | -84.82% | 173.99% | 36.44% | 72.9% |
| D&A (Non-Cash Add-back) | 7.63M | 6.9M | 5.46M | 4.71M | 3.76M | 3.02M | 3.23M | 3.32M | 2.97M | 1.94M | 1.72M | 1.68M | 1.25M | 1.74M | 1.56M | 1.53M | 1.53M | 1.52M | 1.93M | 1.79M |
| EBIT | 6.41M | 17.8M | 6.29M | 2.62M | 3.19M | 11.23M | 6.29M | -478K | 240K | 9.7M | 2M | 24.06M | -649K | 12.38M | 4.88M | 396K | -326K | -15.14M | 5.64M | 3.45M |
| Net Interest Income | -807K | -889K | -991K | -802K | -587K | -373K | -195K | -29K | 131K | 464K | 857K | 519K | 442K | 271K | -36K | -35K | -43K | -1.34M | -292K | -297K |
| Interest Income | 30K | 0 | 0 | 11K | 114K | 299K | 464K | 638K | 698K | 737K | 878K | 547K | 467K | 318K | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 837K | 889K | 991K | 813K | 701K | 672K | 659K | 667K | 567K | 273K | 21K | 28K | 25K | 47K | 36K | 35K | 43K | 1.34M | 292K | 297K |
| Other Income/Expense | -813K | -1.88M | -1M | -546K | -367K | -373K | -195K | -29K | 131K | 464K | 857K | 519K | 442K | 272K | -36K | -35K | -43K | -1.14M | -292K | -297K |
| Pretax Income | 5.6M | 15.92M | 5.29M | 2.08M | 2.83M | 10.56M | 5.63M | -1.15M | -327K | 9.43M | 2.85M | 24.03M | -674K | 11.6M | 4.84M | 361K | -369K | 32.9M | 5.45M | 3.15M |
| Pretax Margin % | 3.89% | 11.14% | 3.74% | 1.78% | 2.4% | 8.84% | 4.92% | -1.11% | -0.32% | 9.19% | 2.86% | 27.11% | -0.77% | 12.64% | 5.28% | 0.44% | -0.45% | 37.47% | 6.12% | 3.92% |
| Income Tax | 1.24M | 3.22M | 1.5M | 522K | 882K | 3.72M | 1.67M | -463K | -113K | 2.63M | 789K | 6.78M | -565K | 3.04M | 1.3M | 102K | -641K | 8.94M | 1.61M | 729K |
| Effective Tax Rate % | 22.21% | 20.23% | 28.24% | 25.14% | 31.21% | 35.26% | 29.75% | 40.44% | 34.56% | 27.94% | 27.66% | 28.23% | 83.83% | 26.22% | 26.84% | 28.25% | 173.71% | 27.17% | 29.6% | 23.11% |
| Net Income | 4.36M | 12.7M | 3.8M | 1.55M | 1.94M | 6.83M | 3.95M | -682K | -214K | 6.79M | 2.06M | 17.25M | -109K | 8.56M | 3.54M | 259K | 272K | 23.96M | 3.84M | 2.43M |
| Net Margin % | 3.03% | 8.89% | 2.69% | 1.33% | 1.65% | 5.72% | 3.46% | -0.66% | -0.21% | 6.62% | 2.07% | 19.46% | -0.12% | 9.32% | 3.86% | 0.32% | 0.33% | 27.29% | 4.31% | 3.02% |
| Net Income Growth % | 124.07% | 85.84% | -3.9% | 327.86% | 1008.41% | 0.62% | 91.52% | -103.95% | -96.33% | -20.64% | -41.76% | 6560.23% | -140.07% | -64.29% | -7.68% | -89.32% | -93.94% | -47.93% | 9.31% | 209.83% |
| Net Income (Continuing) | 4.36M | 12.7M | 3.8M | 1.55M | 1.94M | 6.83M | 3.95M | -682K | -214K | 6.79M | 2.06M | 17.25M | -109K | 8.56M | 3.54M | 259K | 272K | 23.96M | 3.84M | 2.43M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 0.14 | 0.42 | 0.12 | 0.05 | 0.06 | 0.22 | 0.13 | -0.02 | -0.01 | 0.22 | 0.07 | 0.57 | -0.00 | 0.25 | 0.10 | -0.00 | 0.01 | 0.73 | 0.11 | 0.06 |
| EPS Growth % | 123.64% | 90.91% | -7.69% | 325.23% | - | 0% | 93.45% | -103.89% | - | -12% | -32.8% | - | -133.96% | -65.75% | -9.09% | -102.83% | -91.85% | -49.31% | 37.5% | 200% |
| EPS (Basic) | 0.14 | 0.42 | 0.12 | 0.05 | 0.06 | 0.22 | 0.13 | -0.02 | -0.01 | 0.23 | 0.07 | 0.57 | -0.00 | 0.25 | 0.10 | -0.00 | 0.01 | 0.73 | 0.11 | 0.06 |
| Diluted Shares Outstanding | 31.33M | 31.26M | 31.32M | 31.27M | 31.07M | 31.14M | 31.04M | 30.66M | 30.3M | 30.85M | 30.7M | 30.4M | 30.04M | 26.44M | 25.38M | 25.96M | 25.72M | 25.18M | 25.14M | 25.11M |
| Basic Shares Outstanding | 31.13M | 30.94M | 31M | 30.99M | 30.81M | 30.68M | 30.68M | 30.66M | 30.3M | 30.13M | 30.16M | 30.14M | 30.04M | 26.44M | 25.38M | 25.96M | 25.72M | 25.18M | 25.14M | 25.11M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |