Legacy Education Inc.

Good day and welcome to Legacy Education, Inc. first quarter fiscal 2025 earnings conference call. At this time, all participants are in a listen only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance, please press star zero on your telephone keypad. Today's call is being recorded and broadcast live. It is also archived on Legacy Education website. To kick off the call, I would like to turn it over to Nicole Joseph, Senior Vice President for Legacy Education. Please begin.

Thank you. And hello, everyone. Legacy Education issued a news release recording its recent financial results and related corporate developments for the first quarter and three months ended September 30th, 2024. The release is available in the investor relations section of Legacy Education's corporate website at LegacyEd.com. With us today on the call are Leann Roman, Chief Executive Officer, and Brandon Pope, Chief Financial Officer. On today's earnings call, statements made by Legacy's management regarding the company's business, which are not historical facts, may be forward-looking statements as identified in federal securities laws. The words may, will, expect, believe, anticipate, project, plan, intend, estimate, and continue, as well as similar expressions are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance. The company cautions you that these statements reflect current expectations about the company's future performance or events and are subject to a number of uncertainties, risks, and other influences, many of which are beyond the company's control, that may influence the accuracy of the statements and projections upon which the statements are based. Factors that may affect the company's results include, but are not limited to, the risk and uncertainties discussed in the risk factor section of the annual report on Form 10-K and the quarterly report on Form 10-Q filed with the Securities and Exchange Commission. Forward-looking statements are based on the information available at the time those statements are made and management's good faith belief as of the time with respect to future events. All forward-looking statements are qualified in their entirety by this cautionary statement, and Legacy undertakes no obligation to publicly revise or update any forward-looking statements, whether as a result of new information, future events, or otherwise after the date thereof. I will now hand the call over to Leann Roman, CEO of Legacy Education. Leann, to you.

Thanks, Nicole, and good afternoon. First and foremost, I want to say thank you to all of our employees, investors, and supporters who made our IPO possible. The IPO has significantly enhanced our visibility, provided greater access to capital, and positioned us for sustained growth. We raised 11.5 million and issued 2.875 million shares. including the full exercise of the overall allotment option by the underwriters, further bolstering our financial position and setting the stage for expansion. We have long had a long-term vision and goal to be a publicly traded company, and we appreciate everyone that took part in this important milestone. I'd like to now welcome to Legacy Education's first quarter fiscal 2025 earnings call. I'm joined today by Brandon Pope, our Chief Financial Officer. We are thrilled to share the results of another strong quarter. The first quarter of fiscal 2025 marked an exceptional start to the year for legacy education. Here are some of the highlights. Our revenue increased 35.1% year over year, reaching 14 million, driven by robust student enrollment and a shift towards higher margin programs. Our new student starts rose 23.3% year over year, for a total of 773, the largest enrollment quarter of our history. demonstrating strong demand for our career-focused educational offerings. Net income for the quarter was 2.1 million, a 95% increase from 1.1 million in the prior year quarter. Diluted earnings per share rose to 21 cents, up from 11 cents. Our active student population year over year for this quarter grew by 25.4% to 2,539, a testament to the success of our programs, execution, and outreach efforts. During the quarter, we received approvals for new programs, including dental assisting, sterile processing, surgical technology, associate of applied science, and pharmacy technicians. These programs will all be added at our Central Coast College campus. Technology advancements, we began transitioning our learning management system from Canvas to Blackboard Learn Ultra, which will enhance the student's learning experience, streamline the system's communication, and improve scalability. These results reflect the strength of our strategy and the unwavering dedication of our team. We remain committed to empowering students with the skills and knowledge they need to thrive in their careers while delivering value to our shareholders. Now, let me take a moment to walk you through some of the key operational developments. Program expansion. We continue to expand our healthcare-focused programs including nursing, medical assisting, and diagnostic medical sonography. These initiatives align with the market demand for skilled professionals and critical industries. Technology investment, you know, we have invested in learning technologies that have enhanced both student outcomes and operational efficiencies by integrating hybrid learning models we're providing students with greater flexibility and accessibility. Our corporate partnerships, we've strengthened these relationships with some industry leaders, including healthcare providers, to create externship and job placement opportunities for our graduates. These partnerships are a cornerstone of our strategy to bridge education and employment. New campuses, our new campus initiatives as well, we are thrilled about including the acquisition of contract at Costa Medical Career College. Once that's closed, we are poised to expand student enrollment and revenue, further solidifying our presence and key markets. Now I'd like to turn the call over to Brandon Pope to discuss our financial performance and more details. Brandon.