---
title: "Lincoln Educational Services Reports Q2 Revenue Up 22.4% to $142.6M; Adjusted EBITDA $12.7M"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/295440449.md"
description: "Lincoln Educational Services reported Q2 2026 revenue of $142.6M, up 22.4% YoY, with adjusted EBITDA of $12.7M. The company reaffirmed full-year guidance, raised capex expectations for new campuses in Maryland and Illinois, and saw student population grow 10.4% to ~18,900."
datetime: "2026-08-10T19:13:06.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/295440449.md)
  - [en](https://longbridge.com/en/news/295440449.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/295440449.md)
generator: "portal-rs"
---

# Lincoln Educational Services Reports Q2 Revenue Up 22.4% to $142.6M; Adjusted EBITDA $12.7M

Lincoln Educational Services reported strong second-quarter 2026 results, with revenue rising 22.4% year-over-year to $142.6 million and adjusted EBITDA of $12.7 million. Net income for the quarter was $1.95 million, and the company generated $22.1 million of net cash from operating activities in the quarter. Lincoln reiterated full-year 2026 guidance and raised capital expenditure expectations to support a new Suitland, Maryland campus and the Melrose Park property acquisition.

**Financial Highlights**

-   Revenue: $142.6 million for Q2 2026, up 22.4% from $116.5 million in Q2 2025.
-   Adjusted EBITDA: $12.7 million for Q2 2026, up 42.4% from $8.9 million in Q2 2025.
-   Net income: $1.95 million for Q2 2026 versus $1.55 million in Q2 2025.
-   Net cash from operating activities: $22.1 million generated in Q2 2026 versus $0.3 million previously.
-   Total liquidity as of June 30, 2026: approximately $143.2 million (cash and available credit).

**Business Highlights**

-   Ending student population increased 10.4% to approximately 18,900, an increase of nearly 1,800 students year-over-year.
-   Student starts rose 1% in the quarter; company reaffirmed full-year student start growth guidance of 10–14% and noted the August class is expected to be among the largest in company history.
-   Signed lease for a focused-program campus in Suitland, Maryland (Electrical and HVAC training) with expected opening in Q4 2027 to deploy a lower-cost, faster-build focused-program campus model.
-   Completed acquisition of the Melrose Park, Illinois campus property for $18.8 million in July and received recognition for the Melrose Park campus (USA Today) and the Grand Prairie, Texas campus (Accrediting Commission designation).
-   Average student population grew by 16.3% year-to-date to over 18,300, reflecting traction in Transportation and Skilled Trades programs.

Original SEC Filing: LINCOLN EDUCATIONAL SERVICES CORP \[ LINC \] - 8-K - Aug. 10, 2026

**Disclaimer**

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**