Lincoln Educational Services (LINC) Cost of Revenue (2016 - 2026)
On a quarterly basis, Cost of Revenue rose 21.3% to $23.9 million in Q1 2026 year-over-year; TTM through Mar 2026 was $29.1 million, a 71.82% decrease, with the full-year FY2025 number at $84.6 million, down 53.48% from a year prior.
Lincoln Educational Services (LINC) has 16 years of Cost of Revenue data on record, last reported at $23.9 million in Q1 2026.
- Cost of Revenue reached $23.9 million in Q1 2026 per LINC's latest filing, up from -$66.9 million in the prior quarter.
- Over the last five years, Cost of Revenue for LINC hit a ceiling of $46.8 million in Q2 2025 and a floor of -$66.9 million in Q4 2025.
- A 5-year average of $27.2 million and a median of $36.2 million in 2022 define the central range for Cost of Revenue.
- On a YoY basis, Cost of Revenue climbed as much as 158.94% in 2025 and fell as far as 248.34% in 2025.
- Tracing LINC's Cost of Revenue over 5 years: stood at $36.5 million in 2022, then rose by 12.36% to $41.0 million in 2023, then grew by 9.98% to $45.1 million in 2024, then tumbled by 248.34% to -$66.9 million in 2025, then skyrocketed by 135.7% to $23.9 million in 2026.
- Business Quant data shows Cost of Revenue for LINC at $23.9 million in Q1 2026, -$66.9 million in Q4 2025, and $25.3 million in Q3 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | 51Talk Online Education | 9.59 Bn | 9.55 Bn | 22.18 Mn | 8.44 Mn |
| 2 | Graham Holdings | 4.73 Bn | 3.72 Bn | 841.00 Mn | 394.99 Mn |
| 3 | Laureate Education | 4.69 Bn | 4.53 Bn | -16.39 Mn | 289.01 Mn |
| 4 | Grand Canyon Education | 4.19 Bn | 3.94 Bn | 244.77 Mn | 63.99 Mn |
| 5 | Stride | 3.77 Bn | 2.96 Bn | 231.57 Mn | 398.31 Mn |
| 6 | Perdoceo Education | 2.11 Bn | 1.43 Bn | 174.68 Mn | 47.07 Mn |
| 7 | Universal Technical Institute | 2.01 Bn | 1.84 Bn | 103.97 Mn | 117.43 Mn |
| 8 | Strategic Education | 1.71 Bn | 1.55 Bn | - | - |
| 9 | Lincoln Educational Services | 1.46 Bn | 1.44 Bn | 120.06 Mn | 23.90 Mn |
| 10 | American Public Education | 943.17 Mn | 722.17 Mn | 100.11 Mn | 74.63 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 23.90 Mn |
| Mar 31, 2026 | 23.90 Mn |
| Dec 31, 2025 | -66.93 Mn |
| Dec 31, 2025 | -66.93 Mn |
| Sep 30, 2025 | 25.35 Mn |
| Sep 30, 2025 | 25.35 Mn |
| Jun 30, 2025 | 46.79 Mn |
| Jun 30, 2025 | 46.79 Mn |
| Mar 31, 2025 | 19.70 Mn |
| Mar 31, 2025 | 19.70 Mn |
| Dec 31, 2024 | 45.12 Mn |
| Dec 31, 2024 | 45.12 Mn |
| Sep 30, 2024 | 20.39 Mn |
| Sep 30, 2024 | 20.39 Mn |
| Jun 30, 2024 | 18.07 Mn |
| Jun 30, 2024 | 18.07 Mn |
| Mar 31, 2024 | 19.76 Mn |
| Mar 31, 2024 | 19.76 Mn |
| Dec 31, 2023 | 41.02 Mn |
| Dec 31, 2023 | 41.02 Mn |
| Sep 30, 2023 | 43.13 Mn |
| Sep 30, 2023 | 43.13 Mn |
| Jun 30, 2023 | 40.03 Mn |
| Jun 30, 2023 | 40.03 Mn |
| Mar 31, 2023 | 38.09 Mn |
| Mar 31, 2023 | 38.09 Mn |
| Dec 31, 2022 | 36.51 Mn |
| Dec 31, 2022 | 36.51 Mn |
| Sep 30, 2022 | 39.93 Mn |
| Sep 30, 2022 | 39.93 Mn |
| Jun 30, 2022 | 36.11 Mn |
| Jun 30, 2022 | 36.11 Mn |
| Mar 31, 2022 | 36.20 Mn |
| Mar 31, 2022 | 36.20 Mn |
| Dec 31, 2021 | 34.79 Mn |
| Dec 31, 2021 | 34.79 Mn |
| Sep 30, 2021 | 38.11 Mn |
| Sep 30, 2021 | 38.11 Mn |
| Jun 30, 2021 | 33.69 Mn |
| Jun 30, 2021 | 33.69 Mn |
| Mar 31, 2021 | 32.34 Mn |
| Mar 31, 2021 | 32.34 Mn |
| Dec 31, 2020 | 31.46 Mn |
| Dec 31, 2020 | 31.46 Mn |
| Sep 30, 2020 | 34.25 Mn |
| Sep 30, 2020 | 34.25 Mn |
| Jun 30, 2020 | 26.25 Mn |
| Jun 30, 2020 | 26.25 Mn |
| Mar 31, 2020 | 30.24 Mn |
| Mar 31, 2020 | 30.24 Mn |
| Dec 31, 2019 | 30.56 Mn |
| Dec 31, 2019 | 30.56 Mn |
| Sep 30, 2019 | 33.21 Mn |
| Sep 30, 2019 | 33.21 Mn |
| Jun 30, 2019 | 29.75 Mn |
| Jun 30, 2019 | 29.75 Mn |
| Mar 31, 2019 | 29.98 Mn |
| Mar 31, 2019 | 29.98 Mn |
| Dec 31, 2018 | 31.20 Mn |
| Dec 31, 2018 | 31.20 Mn |
| Sep 30, 2018 | 33.49 Mn |
| Sep 30, 2018 | 33.49 Mn |
| Jun 30, 2018 | 30.18 Mn |
| Jun 30, 2018 | 30.18 Mn |
| Mar 31, 2018 | 30.50 Mn |
| Mar 31, 2018 | 30.50 Mn |
| Dec 31, 2017 | 30.23 Mn |
| Dec 31, 2017 | 30.23 Mn |
| Sep 30, 2017 | 34.07 Mn |
| Sep 30, 2017 | 34.07 Mn |
| Jun 30, 2017 | 32.41 Mn |
| Jun 30, 2017 | 32.41 Mn |
| Mar 31, 2017 | 32.71 Mn |
| Mar 31, 2017 | 32.71 Mn |
| Dec 31, 2016 | 34.19 Mn |
| Dec 31, 2016 | 34.19 Mn |
| Sep 30, 2016 | 37.54 Mn |
| Sep 30, 2016 | 37.54 Mn |
| Jun 30, 2016 | 35.57 Mn |
| Jun 30, 2016 | 35.57 Mn |