Company: LGCY
Filing Date: 2025-02-13
Form Type: 10-Q
Source: 0001493152-25-006418
Chunk: 48

Company: Legacy Education Inc.
Filing Date: 2025-02-13
Form: 10-Q
Item: Part I, Item 1
Chunk 48
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 for the three months ended December 31, 2024 compared to approximately $1.3
million for the three months ended December 31, 2023, an increase of approximately $0.1 million, or approximately 8.5%, due to the reasons
mentioned above.

6

Six
Months Ended December 31, 2024 Compared to Six Months Ended December 31, 2023

The
following table sets forth our consolidated statements of income data as a percentage of revenue for the six months ended December 31,
2024 and 2023:

    Six months ended December 31, 
    Percentage Change

    2024 
    2023 
    (decrease)
  
    Revenue 
     100% 
     100% 

    Costs and expenses: 

    Educational services 
     53.1% 
     53.8% 
     -0.7%
  
    General and administrative 
     30.1% 
     30.8% 
     -0.7%
  
    General and administrative – related party 
     0.5% 
     0.4% 
     0.1%
  
    Depreciation and amortization 
     0.7% 
     0.6% 
     0.1%
  
    Total costs and expenses 
     84.4% 
     85.6% 
     -1.2%
  
    Operating income 
     15.6% 
     14.4% 
     1.2%
  
    Interest expense 
     -0.2% 
     -0.3% 
     0.1%
  
    Interest income 
     2.0% 
     1.6% 
     0.4%
  
    Income before income taxes 
     17.4% 
     15.7% 
     1.7%
  
    Income tax expense 
     -4.8% 
     -4.4% 
     -0.4%
  
    Net income 
     12.6% 
     11.3% 
     1.3%

Revenue.
Our revenue was approximately $27.6 million for the six months ended December 31, 2024 compared to approximately $20.9 million for the
six months ended December 31, 2023, an increase of