---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-25-018340"
form_type: "8-K"
ticker: "LINC"
cik: "0001286613"
company_name: "LINCOLN EDUCATIONAL SERVICES CORP"
filed_at: "2025-05-12T23:59:59+00:00"
generated_at: "2026-05-21T23:11:23.751351+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Lincoln Ed reports Q1 revenue $117.5M (+13.7%); raises FY2025 guidance

## Summary
- Revenue $117.5M (+13.7% YoY); net income $1.9M vs ($0.2M) loss; adj EBITDA $10.6M vs $6.5M.
- Student starts +16.2% (excl. Transitional +20.9%); quarter-end population +15.2%.
- FY2025 guidance raised: revenue $485M-$495M (prev $480M-$490M); adj EBITDA $58M-$63M (prev $55M-$60M).
- Credit facility expanded to $60M revolv, $25M accordion; total liquidity ~$90M, no debt outstanding.
- New campuses: Houston expected by year-end 2025; Hicksville, NY by end 2026; Nashville relocation completed.

## SEC filing metadata
- accession: 0001140361-25-018340
- form_type: 8-K
- ticker: LINC
- cik: 0001286613
- company_name: LINCOLN EDUCATIONAL SERVICES CORP
- filed_at: 2025-05-12T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1286613/000114036125018340/0001140361-25-018340-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1286613/000114036125018340/ef20048738_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-25-018340
- JSON: https://secwatch.observer/filing/0001140361-25-018340.json
- Plain text: https://secwatch.observer/filing/0001140361-25-018340.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.