Laureate Education, Inc. income statement
In fiscal 2025, Laureate Education, Inc. reported revenue of $1.70bn, up 8.6% on the year before, operating income of $431m (a 25.3% margin) and net income of $282m, or $1.89 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMSept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 4,292 | 3,302 | 3,333 | 1,145 | 1,212 | 1,025 | 1,087 | 1,242 | 1,484 | 1,567 | 1,702 | 1,915 |
| Cost of revenue | 3,760 | 2,789 | 2,775 | 904 | 949 | 802 | 814 | 907 | 1,090 | 1,147 | 1,220 | 1,368 |
| Gross profit | 532 | 513 | 558 | 241 | 263 | 222 | 272 | 335 | 395 | 420 | 482 | 547 |
| General and administrative | 195 | 222 | 315 | 267 | 226 | 200 | 204 | 65 | 53 | 46 | 51 | 52 |
| Operating income | 337 | 291 | 235 | −27 | 36 | −329 | −5 | 270 | 339 | 374 | 431 | 495 |
| Interest expense | 398 | 390 | 335 | 188 | 125 | 101 | 46 | 16 | 21 | 18 | 11 | 15 |
| Provision for credit losses | 1 | 3 | 1 | 1 | 2 | — | — | — | — | — | — | — |
| Income before tax | −201 | 367 | −77 | −120 | −120 | −451 | −138 | 246 | 254 | 414 | 401 | 495 |
| Income tax | 118 | 34 | −93 | 71 | 31 | −130 | 146 | 185 | 138 | 119 | 117 | 107 |
| Net income | −316 | 372 | 91 | 370 | 938 | −613 | 192 | 70 | 108 | 296 | 282 | 388 |
| Diluted EPS | −$2.44 | $2.76 | −$1.20 | $1.73 | $4.23 | −$2.93 | $1.01 | $0.41 | $0.68 | $1.92 | $1.89 | $2.71 |
| Diluted shares (average) | 133m | 134m | 172m | 213m | 222m | 210m | 190m | 168m | 158m | 154m | 149m | 143m |
| EBITDA | — | — | — | — | — | — | 97 | 329 | 408 | 442 | 506 | — |
| Quarter | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 | 2026 Q3Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 423 | 236 | 524 | 400 | 541 | 273 | 616 | 485 |
| Cost of revenue | 288 | 238 | 317 | 317 | 348 | 289 | 378 | 353 |
| Gross profit | 135 | −2 | 207 | 84 | 194 | −16 | 238 | 132 |
| General and administrative | 11 | 11 | 13 | 12 | 14 | 11 | 14 | 13 |
| Operating income | 124 | −13 | 193 | 71 | 179 | −28 | 223 | 119 |
| Interest expense | 3 | 2 | 3 | 3 | 3 | 3 | 4 | 5 |
| Income before tax | 139 | −17 | 167 | 69 | 183 | −27 | 219 | 121 |
| Income tax | 46 | 3 | 69 | 34 | 11 | −6 | 82 | 20 |
| Net income | 94 | −19 | 95 | 34 | 172 | −22 | 137 | 101 |
| Diluted EPS | $0.61 | −$0.13 | $0.65 | $0.23 | $1.15 | −$0.15 | $0.98 | $0.73 |
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