Company: LGCY
Filing Date: 2025-09-25
Form Type: 10-K
Source: 0001493152-25-014945
Chunk: 732

Company: Legacy Education Inc.
Filing Date: 2025-09-25
Form: 10-K
Item: Item 4
Chunk 732
---
,

    Percentage 
Change

    2025

    2024

    (decrease)

    Revenue

    100
    %

    100.0
    %

    Costs and expenses:

    Educational services

    53.4
    %

    57.3
    %

    -3.9
    %
  
    General and administrative

    30.0
    %

    28.3
    %

    1.7
    %
  
    General and administrative – related party

    0.4
    %

    0.4
    %

    -
    %
  
    Depreciation and amortization

    0.7
    %

    0.6
    %

    0.1
    %
  
    Total costs and expenses

    84.4
    %

    86.5
    %

    -2.1
    %
  
    Operating income

    15.6
    %

    13.5
    %

    2.1
    %
  
    Interest expense, net

    -0.2
    %

    -0.3
    %

    -0.1
    %
  
    Interest income

    1.8
    %

    1.9
    %

    -0.1
    %
  
    Income before income taxes

    17.2
    %

    15.2
    %

    2.0
    %
  
    Income tax expense

    -5.4
    %

    -4.1
    %

    1.3
    %
  
    Net income

    11.7
    %

    11.1
    %

    0.6
    %

Revenue.
Our revenue was approximately $64.2 million in fiscal 2025 compared to approximately $46.0 million in fiscal 2024, an increase of approximately
$18.2 million, or approximately 39.5%. The increase was primarily due to increased student enrollment and the increase in pricing of
certain programs.

86

Educational
services. Our educational service expense was approximately $34.2 million in fiscal 2025 compared to approximately $26.4 million
in fiscal 2024, an increase of approximately $7.8 million, or approximately 29.5%. The increase was primarily attributable to the increased
instructional and staffing required to support