Legacy Education Inc.
Business
Legacy Education Inc. operates four accredited post-secondary career colleges in California: High Desert Medical College, Central Coast College, Integrity College of Health, and Contra Costa Medical Career College. The company provides career-focused education through certificate and associate-degree programs in healthcare fields including nursing, ultrasound technology, medical assisting, pharmacy technician, dental assisting, and veterinary assistance. Legacy serves approximately 3,100 students across campuses in Southern and Central California, with programs designed for workforce entry within months, relying substantially on Title IV federal financial aid.
Summary from 10-K filed 2025-09-25
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-06-30 | FY 2024 2024-06-30 | FY 2023 2023-06-30 |
|---|---|---|---|---|
| Tuition and related income, net | 64 | 46 | 35 | |
| Educational services | 34 | 26 | 21 | |
| General and administrative | 19 | 13 | 11 | |
| General and administrative related party | 225,875 | 168,000 | 173,000 | |
| Depreciation and amortization | 441,718 | 265,036 | 224,488 | |
| Total costs and expenses | 54 | 40 | 32 | |
| Operating income | 10 | 6 | 4 | |
| Interest expenses | −112,731 | −118,162 | −96,259 | |
| Interest income | 1 | 886,834 | 339,102 | |
| Total other income | 1 | 768,672 | 242,843 | |
| Income before income tax expenses | 11 | 7 | 4 | |
| Income tax expenses | −3 | −2 | −1 | |
| Net income | 8 | 5 | 3 | |
| Basic net income per share | 0.65 | 0.55 | 0.29 | |
| Diluted net income per share | 0.59 | 0.53 | 0.28 | |
| Basic weighted average shares outstanding | 12 | 9 | 9 | |
| Diluted weighted average shares outstanding | 13 | 10 | 10 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-06-30 | FY 2024 2024-06-30 | FY 2023 2023-06-30 | FY 2022 2022-06-30 |
|---|---|---|---|---|---|
| Cash and cash equivalents | 20 | 10 | 9 | — | |
| Accounts receivable, net of $1,641,052 and $688,848 allowance for doubtful accounts as of June 30, 2025 and June 30, 2024, respectively | 15 | 13 | 7 | — | |
| Prepaid expenses | 1 | 1 | 661,559 | — | |
| Other receivables | 302,424 | 140,894 | 141,454 | — | |
| Total current assets | 37 | 25 | 17 | — | |
| Property and equipment, net | 2 | 989,952 | 680,073 | — | |
| Operating lease right-of-use asset | 16 | 4 | 4 | 5 | |
| Financing lease right-of-use asset | 311,711 | 340,048 | — | — | |
| Intangible assets | 4 | 1 | 1 | — | |
| Goodwill | 7 | 2 | 2 | — | |
| Accounts receivable, long-term | 2 | 1 | 1 | — | |
| Deferred income tax assets | 395,546 | 898,000 | 168,000 | — | |
| Security deposits | 503,133 | 416,605 | 383,545 | — | |
| Total assets | 69 | 35 | 27 | — | |
| Accounts payable and accrued liabilities | 5 | 4 | 3 | — | |
| Accrued income tax payable | 596,250 | 1 | 147,055 | — | |
| Deferred, unearned tuition | 5 | 3 | 3 | — | |
| Other current liabilities | 3,197 | 24,201 | 30,434 | — | |
| Current portion of debt | 875,350 | 574,244 | 678,257 | — | |
| Debt owed, related party | 50,000 | 50,000 | 50,000 | — | |
| Current portion of financing lease | 63,989 | 57,260 | — | — | |
| Current portion of operating lease liability | 2 | 2 | 2 | — | |
| Total current liabilities | 14 | 10 | 8 | — | |
| Debt, net of current portion | 481,264 | 123,862 | 45,325 | — | |
| Financing lease, net of current portion | 151,420 | 215,409 | — | — | |
| Other liabilities | — | 905 | — | — | |
| Operating lease liability, net of current portion | 14 | 2 | 3 | — | |
| Total liabilities | 28 | 13 | 12 | — | |
| Commitments and contingencies | — | — | — | — | |
| Preferred stock: $0.001 par value, 10,000,000 shares authorized; no shares issued and outstanding | — | — | — | — | |
| Common stock: $0.001 par value, 100,000,000 shares authorized, 12,452,670 and 9,291,149 shares issued and outstanding as of June 30, 2025 and June 30, 2024, respectively | 12,453 | 9,291 | 9,291 | — | |
| Additional paid in capital | 27 | 16 | 14 | — | |
| Retained earnings | 14 | 6 | 1 | — | |
| Total stockholders equity | 41 | 22 | 15 | 14 | |
| Total liabilities and stockholders equity | 69 | 35 | 27 | — |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-06-30 | FY 2024 2024-06-30 | FY 2023 2023-06-30 |
|---|---|---|---|---|
| Non cash compensation | 552,800 | 2 | — | |
| Depreciation & amortization | 441,718 | 265,036 | 224,488 | |
| Deferred income tax | 502,454 | −730,000 | −75,792 | |
| Provision for allowance for doubtful accounts for accounts receivable and contracts receivable | 3 | 348,788 | −152,891 | |
| Accounts receivable | −3 | −6 | −2 | |
| Prepaid expenses | −327,148 | −370,766 | −5,510 | |
| Other receivable | −161,530 | 560 | 569,040 | |
| Related party receivable | — | 69,975 | — | |
| Other assets | −54,293 | −183,917 | −141,802 | |
| Accounts payable and accrued liabilities | 1 | 1 | 163,411 | |
| Income tax payable | −847,085 | 1 | 143,220 | |
| Deferred unearned tuition | −465,486 | −887,979 | 373,270 | |
| Net cash provided by operating activities | 8 | 2 | 2 | |
| Cash paid under APA | −6 | — | — | |
| Purchases of property and equipment | −844,320 | −423,710 | −195,076 | |
| Net cash used in investing activities | −7 | −423,710 | −195,076 | |
| Proceeds from IPO, net of offering cost | 9 | — | — | |
| Proceeds from exercise of options | 374,631 | — | 33,800 | |
| Principal payment on finance lease | −57,260 | −67,379 | — | |
| Principal payments on debt | −330,840 | −171,170 | −168,394 | |
| Net cash provided by (used in) financing activities | 9 | −238,549 | −1 | |
| Net increase cash and cash equivalents and restricted cash | 10 | 986,543 | 523,042 | |
| Cash paid during the periods for interest | 136,267 | 118,162 | 96,259 | |
| Cash paid during the periods for income taxes | 4 | 1 | 1 | |
| Non-cash purchase of financed lease assets | — | 340,048 | — | |
| Non-cash purchase of equipment | 567,451 | 145,694 | — | |
| Prepaid expense reclassifies to offering cost | 276,866 | — | — | |
| Common stock issued as part of APA | 1 | — | — | |
| Promissory note under APA | 400,000 | — | — | |
| Net identifiable assets acquired under APA | −205,670 | — | — |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Legacy Education Inc.'s CIK number?
Legacy Education Inc.'s SEC CIK number is 0001836754 (1836754). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Legacy Education Inc.'s SEC filings?
All of Legacy Education Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Legacy Education Inc. last report earnings?
Legacy Education Inc. (LGCY) most recently filed an earnings 8-K with the SEC on May 14, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001493152-26-023061). This is Legacy Education Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Legacy Education Inc.'s most recent earnings 8-K?
Legacy Education Inc.'s latest earnings 8-K (Item 2.02) was filed May 14, 2026 under accession 0001493152-26-023061. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Legacy Education Inc.'s latest earnings 8-K →
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