---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-25-041367"
form_type: "8-K"
ticker: "LINC"
cik: "0001286613"
company_name: "LINCOLN EDUCATIONAL SERVICES CORP"
filed_at: "2025-11-10T23:59:59+00:00"
generated_at: "2026-05-16T22:16:08.145865+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Lincoln Educational raises FY2025 guidance after Q3 revenue up 23.6%, adj. EBITDA up 65.1%

## Summary
- Q3 revenue $141.4M (+23.6% YoY); net income $3.8M ($0.12/share) vs $4.0M ($0.13) prior year which included $2.8M insurance gain.
- Adjusted EBITDA rose 65.1% to $16.9M; student population up 14.8%, student starts up 3.2% (6% ex-Transitional).
- Full-year 2025 guidance raised: revenue $505-510M, adj. EBITDA $65-67M, net income $17-19M, student starts growth 15%-16%.
- Raised 2027 objectives to >$600M revenue and $90M adj. EBITDA; new campus in Rowlett, TX expected early 2027.
- Investor Day scheduled for March 19, 2026 at new Nashville campus.

## SEC filing metadata
- accession: 0001140361-25-041367
- form_type: 8-K
- ticker: LINC
- cik: 0001286613
- company_name: LINCOLN EDUCATIONAL SERVICES CORP
- filed_at: 2025-11-10T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1286613/000114036125041367/0001140361-25-041367-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1286613/000114036125041367/ef20058711_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-25-041367
- JSON: https://secwatch.observer/filing/0001140361-25-041367.json
- Plain text: https://secwatch.observer/filing/0001140361-25-041367.txt

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