LINCOLN EDUCATIONAL SERVICES CORP

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
ASSETS
Current assets:
Cash and Cash Equivalents, at Carrying Value $21.1m $14.6m $17.6m $23.6m $38.0m $83.3m $46.1m $76.0m $59.3m $28.5m
Prepaid Expense and Other Assets, Current $2.4m $2.4m $2.5m $4.2m $3.7m $4.9m $4.7m $5.6m $4.8m $7.9m
Short-term Investments $14.8m $0
Inventory, Net $1.1m $1.7m $1.5m $1.6m $2.4m $2.7m $2.6m $2.9m $3.1m $4.0m
Assets, Current $66.3m $44.7m $57.1m $50.5m $74.2m $121.6m $114.1m $134.7m $111.3m $87.0m
Property, Plant and Equipment, Net $55.4m $52.9m $49.3m $49.3m $48.4m $23.1m $23.9m $50.9m $103.5m $171.6m
Goodwill $14.5m $14.5m $14.5m $14.5m $14.5m $14.5m $14.5m $10.7m $10.7m $10.7m
Intangible Assets, Net (Excluding Goodwill) $32k
Operating Lease, Right-of-Use Asset $0 $49.1m $55.2m $91.5m $93.1m $89.9m $136.0m $154.2m
Other Assets, Noncurrent $1.0m $939k $900k $1.0m $734k $794k $812k $1.8m $1.4m $1.3m
Additional Financial Items
Accounts Receivable, after Allowance for Credit Loss, Current $10.3m $15.8m $18.7m $20.7m $30.0m $26.2m $37.2m $35.7m $43.0m $36.9m
Accrued Liabilities, Current $12.8m $11.8m $10.6m $7.9m $16.7m $15.7m $8.7m $13.7m $12.0m $18.4m
Assets $163.2m $155.2m $146.0m $194.8m $245.2m $295.3m $291.6m $345.2m $436.6m $493.2m
LIABILITIES AND EQUITY
Current liabilities:
Operating Lease, Liability, Current $0 $9.1m $8.5m $11.5m $9.6m $11.7m $9.5m $10.6m
Accounts Payable, Current $13.7m $10.5m $14.1m $14.6m $15.7m $12.3m $10.5m $18.2m $37.0m $27.0m
Operating Lease, Liability, Noncurrent $46.0m $52.7m $86.4m $91.0m $88.9m $138.8m $162.1m
Deferred Revenue, Current $17.5m $24.6m
Long-term Debt, Current Maturities $11.7m $0 $15.0m $2.0m $2.0m $0
Long-term Debt, Excluding Current Maturities $30.2m $52.6m $33.8m $32.0m $15.2m $0
Liabilities, Current $68.0m $47.5m $64.6m $57.2m $66.8m $65.9m $55.0m $73.4m $90.2m $100.7m
Deferred Income Tax Liabilities, Net $153k $0
Other Liabilities, Noncurrent $743k $548k $141k $214k $3.1m $0 $56k $16k $0
Deferred Tax Liabilities, Net $153k
Liabilities $108.3m $109.4m $106.2m $139.6m $142.1m $153.9m $146.7m $178.4m $258.3m $293.5m
Stockholders’ equity:
Additional Paid in Capital $28.6m $29.3m $29.5m $30.1m $30.5m $32.4m $45.5m $49.4m $50.6m $52.3m
Retained Earnings (Accumulated Deficit) ($26.0m) ($37.5m) ($44.1m) ($42.1m) $6.2m $39.7m $51.2m $69.3m $79.2m $99.2m
Accumulated Other Comprehensive Income (Loss), Net of Tax ($6.1m) ($4.5m) ($4.1m) ($3.5m) ($4.2m) ($1.2m) ($960k) ($36k) $274k $0
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax $6.1m $4.5m $4.1m $3.3m $3.3m $1.2m $960k $36k ($274k) $0
Stockholders' Equity Attributable to Parent $54.9m $45.8m $39.9m $43.1m $91.1m $129.4m $144.9m $166.8m $178.3m $199.7m
Liabilities and Equity $163.2m $155.2m $146.0m $194.8m $245.2m $295.3m $291.6m $345.2m $436.6m $493.2m