Sep 24, 2026 earnings call — Record year and operating leverage
Legacy reported record fiscal 2026 revenue of $80.1 million, with pre-existing brands growing 16.5%.
Revenue $0.0B (est $0.0B) · EPS $0.15 (est $0.15)
Key quotes
"Fiscal 2026 was a record year for Legacy Education. It was also a year in which our results, operating execution and balance sheet gave us greater capacity to pursue the next stage of growth."
"Adjusted EBITDA increased 30.6% to $3.1 million. And adjusted EBITDA margin reached 15.5%."
"After the end of the fiscal year, we executed a lease for 28,000 square feet in Houston, Texas, for a planned Central Coast College branch."
Analyst Q&A 2
student starts and Houston opening
Q (Mike Grondahl · Northland): He asked about trends in student starts, when year-over-year growth returns, and what will drive it. He also asked about timing and ramp for the Houston branch campus and whether acquisitions are progressing.
A: Management said leads are not the problem; the decline came from new programs (Surg Tech, Sterile Processing, VN changes) still ramping. Surg Tech rollout is now planned for the first quarter of 2027, Sterile Processing is ramping, and nursing classes are adjusting to new entrance requirements. On acquisitions, they said Legacy is actively reviewing opportunities and will announce if a target meets their criteria and is accretive.
"That -- you're spot on in how you're thinking of it because it really is coming down to two: the timing of when these starts are occurring based off the calendars, and then the program readiness." — LeeAnn Rohmann (CEO)
Houston student size and margins
Q (Jeffrey Cohen · Ladenburg Thalmann): He asked how many students Houston could have in 1 to 2 years and whether Texas beyond Houston is a target. He also asked for commentary on operating expense or margin outlook for 2027.
A: They said after 1 to 2 years the Houston location should have between 400 and 600 students. They said Texas as a whole could be an opportunity to expand beyond Houston. They also said they expect margin to continue to increase and grow accretively, with most of the improvement likely showing in the second half of the year.
"We expect, if you're referring to margin, we expect margin to continue to increase and grow accretively." — Brandon Pope (CFO)