Company: LGCY
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022296
Chunk: 98

Company: Legacy Education Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 98
---
    Percentage 

    2025  
    2024  
    Change 
  
    Revenue 
     100% 
     100% 

    Costs and expenses: 

    Educational services 
     53.2% 
     51.4% 
     1.8%
  
    General and administrative 
     31.5% 
     28.3% 
     3.2%
  
    General and administrative – related party 
     0.8% 
     0.6% 
     0.2%
  
    Depreciation and amortization 
     0.6% 
     0.6% 
     -%
  
    Total costs and expenses 
     86.1% 
     80.9% 
     5.2%
  
    Operating income 
     13.9% 
     19.1% 
     -5.2%
  
    Interest expense 
     -0.2% 
     -0.2% 
     -%
  
    Interest income 
     1.6% 
     1.8% 
     -0.2%
  
    Income before income taxes 
     15.3% 
     20.7% 
     -5.4%
  
    Income tax expense 
     -4.0% 
     -5.8% 
     -1.8%
  
    Net income 
     11.3% 
     14.9% 
     -3.6%

7

Revenue.
Our revenue was approximately $19.4 million for the three months ended September 30, 2025 compared to approximately $14.0 million for
the three months ending September 30, 2024, an increase of approximately $5.4 million, or approximately 38.5 %. The increase is primarily
due to increased enrollment in the current three-month period.

Educational
services. Our educational services expense was approximately $10.3 million for the three months ending September 30, 2025 compared
to approximately $7.2 million for the three months ended September 30, 2024, an increase of approximately $3.1 million, or approximately
43.3%. The increase was primarily attributable to the increased instructional and staffing required to support the increase in
enrollments as well as increased rent, externship fees and