Legacy Education's net income rose 21.3% as operating cash flow fell 48.2%
Fiscal 2026 10-K: revenue grew 24.8% while receivables grew 32.0%, and that difference came out of cash flow
aiSwingX™ Editorial · Reviewed
Published
Legacy Education Inc. Form 10-K (fiscal 2026, filed 2026-09-24, accession 0001493152-26-044147): consolidated statements of operations, consolidated balance sheets, consolidated statements of cash flows, the allowance for credit losses and revenue recognition accounting policies, and the risk factors. Annual figures cross-checked against SEC XBRL Company Facts.
aiSwingX™ analyzes US filings and reports them as news investors can read.
Legacy Education (LGCY) reported net income of $9,139,483 for fiscal 2026, up 21.3% from a year earlier. Operating cash flow for the same year was $4,026,948, down 48.2%.
In plain terms
Legacy Education runs vocational schools for nursing and allied health in the United States. Last year its reported profit rose 21%, while the cash that actually reached its account fell by half. Much of the added tuition has not been collected yet.
What happened
Legacy Education (LGCY) runs vocational schools for nursing and allied health programs in the United States. Its fiscal 2026 year ended on June 30, 2026, and the 10-K was filed on September 24, 2026.
The bottom line of the income statement, and the subtotal at the top of the cash flow statement.
Item
FY2026
FY2025
Change
Net income
$9,139,483
$7,534,232
+21.3%
Operating cash flow
$4,026,948
$7,768,239
−48.2%
Operating cash flow / net income
44.1%
103.1%
−59.0pp
A year earlier, more cash came in from operations than the company reported as profit (103.1%). This year it is less than half of profit.
Where the cash went — an ●●increase in receivablesSubscribers
Receivables rose ●● while revenue rose ●●Subscribers
Refunds come out of deferred revenue, not revenueSubscribers
The balance sheet got lighterSubscribers
The regulatory risks the company disclosesSubscribers
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FAQ
How can cash flow fall while profit rises?
It places net income from the income statement beside operating cash flow from the cash flow statement, exactly as reported. Both appear in this 10-K and are in the free table above.
Where did the cash go?
The cash flow statement carries the increase in receivables as its own line. That amount and its size relative to net income are in the subscriber section.
How large is the allowance?
The company reports receivables net of an allowance for credit losses. Both years' allowance and its share of the gross balance are in the subscriber section.
What regulatory risks does it disclose?
The company lists the US Department of Education's Title IV student aid programs and related rules among its risks. What it lists is set out in the subscriber section.
Where can I verify this directly?
Open Legacy Education Inc.'s fiscal 2026 Form 10-K (accession 0001493152-26-044147) on SEC EDGAR and read the statement of cash flows, the balance sheet, and the allowance for credit losses accounting policy.
How aiSwingX™ wrote this
We read the filing on SEC EDGAR in full — statements, notes, MD&A. Press releases and news are not used as sources.
Every figure is reconciled to its location in the filing and to XBRL data. One mismatch means no publication.
An editor reviews before publication; any later change is recorded in the revision history.
Legacy Education Inc. Form 10-K (fiscal 2026, filed 2026-09-24, accession 0001493152-26-044147): consolidated statements of operations, consolidated balance sheets, consolidated statements of cash flows, the allowance for credit losses and revenue recognition accounting policies, and the risk factors. Annual figures cross-checked against SEC XBRL Company Facts. · SEC EDGAR · This article is not investment advice. Disclaimer
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aiSwingX™ analyzes US filings and reports them as news investors can read.
