Legacy Education Inc. reported revenue of $80.1 million for the fiscal year ended June 30, 2026, an increase of approximately 24.8% from $64.2 million in the prior fiscal year. This revenue growth was attributed to a 9% increase in student enrollment to 3,377 students and the full-year inclusion of Contra Costa Medical Career College (CCMCC), acquired in December 2024. Net income for fiscal year 2026 was $9.1 million, up from $7.5 million in fiscal year 2025.
The company experienced a significant increase in educational services expenses, rising by 25.3% to $42.9 million in fiscal year 2026, primarily due to increased instructional and staffing costs to support higher enrollment, along with increased rent, books, supplies, and externship fees. General and administrative expenses also grew by 26.7% to $24.2 million, driven by higher marketing expenses, professional fees, and bad debt expense related to increased student enrollment and accounts receivable balances. Despite these increases, the company's operating income rose to $11.8 million in fiscal year 2026 from $10.0 million in fiscal year 2025.
Strategic developments during the period included the acquisition of Contra Costa Medical Career College (CCMCC) in December 2024, which expanded the company's program offerings and campus locations. Additionally, Central Coast College (CCC) entered into a lease for a new campus in Houston, Texas, projected to open in November 2026, subject to regulatory and accreditation approvals. The company also completed its initial public offering in September 2024, raising $10 million in gross proceeds.
Key operational indicators show a positive trend in student enrollment, which increased by 9% to 3,377 students as of June 30, 2026. The company maintained a strong retention rate of 98.1% and reported an average placement rate of 72.7% for its graduates. As of June 30, 2026, Legacy Education Inc. employed approximately 120 full-time faculty and 185 non-faculty staff.
Looking ahead, Legacy Education Inc. anticipates continued growth, supported by its expansion plans, including the new campus in Houston and potential future acquisitions. The company believes its current liquidity position is stable and sufficient to fund operations for at least the next 12 months. However, the company operates in a highly regulated industry, and future financial performance will be subject to various federal and state regulations, including those related to Title IV funding, accreditation, and financial responsibility standards.
About Legacy Education Inc.
Legacy Education Inc. provides career-focused post-secondary education through accredited institutions specializing in healthcare and technical programs. Its offerings include nursing, medical assisting, veterinary technology, and trade certifications, serving students seeking quick, job-ready skills. The company operates primarily in California, emphasizing high-quality curricula, student success, and strong employment outcomes, competing in a fragmented industry with a focus on regulatory compliance and expanding educational programs.
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