Company: LGCY
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022296
Chunk: 166

Company: Legacy Education Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 2
Chunk 166
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 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 non-cash compensation charge. 

General and administrative expense.
Our general and administrative expense was approximately $6.1 million for the three months ending September 30, 2025 compared to
approximately $4.0 million for the three months ended September 30, 2024, an increase of approximately $2.1 million, or approximately
54%. The increase was primarily attributable to increases in marketing costs, professional fees,
bad debt and insurance costs. Of the total general and administrative expense
$1.6 million and $1.2 million relate to marketing expenses for fiscal 2026 and 2025, respectively.

Depreciation
and amortization. Our depreciation and amortization expense was approximately $0.12 for the three months ended September 30, 2025
compared to approximately $0.08 million for the three months ended September 30, 2024.

Interest
expense. Our interest expense was approximately $0.0 million for the three months ended