AI-extracted from the 10-Q filed 2026-05-14 — Q3 FY2026 (nine months ended March 31, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Legacy Education generated $59.95M in tuition revenue for the nine months ended March 31, 2026, up 29.7% YoY, driven by 9.4% enrollment growth to 3,550 students and net income of $7.26M, +15.1% YoY.
Biggest Revenue Drivers
Largest Expense Items
Educational services$31.66M+28.0% YoY
Increased instructional and staffing costs to support 9.4% enrollment growth, plus rent, externship fees, and non-cash compensation.
General and administrative$18.38M+42.1% YoY
Increased marketing spend ($4.8M vs $3.5M YoY), bad debt expense, and professional fees related to acquisition integration and regulatory compliance.
Margins: Operating margin compressed 200 bps to 15.3% from 17.3% YoY due to G&A rising 42.1% outpacing revenue growth of 29.7%, driven by elevated marketing spend and bad debt provisions on higher receivables. Educational services margin improved 80 bps as a percent of revenue due to operating efficiencies offsetting externship fee increases.
Watch Items from the Filing
Title IV Programs (federal student aid) represent a substantial portion of revenue; the company must comply with 90/10 revenue test and faces ongoing ED regulatory changes including new earnings premium accountability measures effective July 1, 2026 that could restrict program eligibility.
Company acquired Contra Costa Medical Career College in December 2024 for $7.5M; CCMCC contributed to 9.4% enrollment growth but integration costs elevated G&A expenses 42.1% YoY.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
About Legacy Education Inc. (LGCY): stock profile, AI score and financials
Legacy Education Inc. (LGCY) stock profile, AI quality score, and SEC EDGAR financial data, a Consumer Discretionary sector company. 13F Pro's AI-powered ranking engine scores LGCY at 55.2/100 on a composite quality score built from its SEC filings, placing it at rank #1,260 of 2,925 stocks — the top half of the AI-ranked universe. LGCY scores in the top quartile across balance sheet strength (89.3), revenue growth (89.0). Areas of concern include revenue scale (13.2) and earnings quality (17.9), which score below median versus the broader universe. Shareholder dilution risk is elevated at 45.8/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q4 2026), Legacy Education Inc. reports quarterly revenue of $20.1M, net income of $1.9M, an operating margin of 13.0%. Top institutional holders of LGCY by reported 13-F value include ROYCE & ASSOCIATES, Holos Integrated Wealth, KENNEDY CAPITAL MANAGEMENT, based on the most recent SEC filings. LGCY trades on the NYSE exchange and files with the SEC under CIK 1836754. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate LGCY daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Legacy Education Inc. directly from SEC EDGAR.