Company: LGCY
Filing Date: 2025-09-25
Form Type: 10-K
Source: 0001493152-25-014945
Chunk: 627

Company: Legacy Education Inc.
Filing Date: 2025-09-25
Form: 10-K
Item: Item 2
Chunk 627
---
 30, 2025 and 2024:

Schedule of Disaggregation
of Revenue

    2025  
    2024 
  
    Tuition and lab fees (recognized over time) 
    $56,906,769  
    $41,200,761 
  
    Books, registration and other fees (recognized at a point in time) 
     7,261,256  
     4,799,555 
  
    Total revenue 
    $64,168,025  
    $46,000,316 

Segment
Reporting

The
Company operates one reportable business segment offering career-focused, post-secondary education services to students at all stages
of adult life, from recent high school graduates to working parents, through its accredited academic institutions. The Company’s
primary revenue source is derived from educational programs and services provided at its colleges through tuition and lab fees as well
as fees for supporting educational programs such as books and registration costs.

Operating
as a cohesive educational services company, the Company offers its products and services in the State of California at a series of institutions,
using a centralized management approach for all educational services and support functions.

The
Chief Executive Officer (“CEO”) serves as the Chief Operating Decision Maker (“CODM”). The CODM evaluates the
Company’s performance based on consolidated net income. This measure aligns with the Company’s consolidated financial statements
and serves as the basis for resource allocation and performance assessment. The measure of segment assets is reported on the balance
sheet as total consolidated assets. The CODM monitors profitability and strategic growth initiatives on a consolidated basis, without
disaggregating profit or loss into separate operating segments. The Company determined there are no significant segment expenses that
require a separate disclosure. The consolidated net income is used to assess overall company performance, benchmark against industry
standards, and identify profitability trends, which guides resource allocation and investment in expansion and program upgrades. The
CODM also evaluates company performance using operating income. Operating income provides the CODM with a focused view of the Company’s
profitability excluding the effects of financing activities, tax strategies, and other non-operating items. This measure enables the
CODM to assess operational efficiency, monitor performance trends, and evaluate the effectiveness of strategies aimed at revenue generation
and cost management.

Allowance
for Credit Losses

The
Company records an allowance for credit losses for estimated losses resulting from the inability, failure or refusal of its students
to make required payments,