Legacy Education Inc.

Good day and welcome to the Legacy Education Third Quarter Fiscal 2025 Earnings Conference Call. Today's call is being recorded and broadcast live. It will also be archived on the Legacy Education website for future reference. To kick off the call, I will turn it over to Nicole Joseph, Senior Vice President of Legacy Education.

Thank you and hello, everyone. Legacy Education has issued a news release reporting its financial results in corporate developments for the third quarter and nine months ended March 31, 2025. The release is available in the investor relations section of our corporate website at LegacyEd.com. With us today on the call are Leanne Roman, Chief Executive Officer, and Brandon Pope, Chief Financial Officer. On today's earnings call, statements made by legacy management regarding the company's business, which are not historical facts, may be forward-looking statements as identified in federal security 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 projection 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 Leigh Ann Roman, CEO of Legacy Education. Leigh Ann, to you.

Thank you, Nicole, and good afternoon, everyone. I'm thrilled to welcome you to the Legacy Education's third quarter fiscal 2025 earnings call. Joining me today is Brandon Pope, our Chief Financial Officer. We've had an outstanding quarter. I'm particularly proud to note that we've achieved double-digit revenue growth for 11 consecutive quarters, and I'm excited to share our results, which reflect the strength of our business model, consistent execution, the dedication of our team, and the growing demand of our career-focused healthcare education. Q3 was a record-breaking quarter for legacy education, with revenue soaring 50.7% year-over-year to $18.6 million, driven by a remarkable 70.7% increase in new student starts and a 49.8% growth in ending enrollment, reaching 3,245 students. as of March 31st, 2025. These results include the full quarter impact of our acquisition of Contra Costa Medical Career College, which added 468 students and expanded our footprint in high demand healthcare markets. We also surpassed a significant milestone, exceeding 3,000 enrolled students as of January 31st, 2025. a testament to our team's execution and the value of our programs. Our focus on allied health education continues to resonate in a market hungry and desperate for skilled professionals. From nursing to diagnostic sonography, surgical technology to dental assisting, our programs are designated to meet employer needs, delivering graduates who are ready to fill critical workforce gaps. Our overall nursing NCLEX pass rate is 83%. We have an average of 75% placement rate through our accreditor asset and a 76% placement rate through our accreditor ABHES. These just underscore the quality of our education and the success of our students. Operationally, we've made significant strides. We've expanded our hybrid learning models, leveraging advanced simulation technology to enhance training while increasing student flexibility. Our six campuses across California and Lancaster, Bakersfield, Temecula, Salinas, Pasadena, and Antioch are strategically located in areas with robust job growth, and we're seeing strong enrollment trends across all locations. The integration of Contra Costa is progressing smoothly, unlocking new market opportunities, and we're actively evaluating additional acquisition targets and branch locations to further expand our geographic and programmatic reach. Financially, we delivered robust profitability with net income of 2.8 million or 21 cents per diluted share and an adjusted EBITDA at $3.9 million, up 60% year-over-year. Our balance sheet remains strong with $17.3 million in cash and $22 million in working capital, providing ample liquidity to fuel organic growth, invest in new programs, add branches, and pursue strategic acquisitions. Before I turn it over to Brandon for a deeper dive into the numbers, I want to thank our employees, our students, our shareholders, and partners. Your belief in our sector and commitment drives our mission to empower students and address the healthcare workforce shortage. With that, I'll hand it over to Brandon Pope, our CFO, to walk you through our financial performance. Brandon?