Lincoln Educational Services Corporation reported Q3 2025 revenue of $141.4 million, a 25.4% increase over the prior year. Adjusted EBITDA rose 65.1% to $16.9 million. Net income for the quarter was $3.8 million, with adjusted net income at $6.3 million. Earnings per share were $0.12, compared to $0.13 in the prior year, while adjusted EPS increased to $0.20 from $0.13. For the full year 2025, guidance was raised to revenue of $505 million to $510 million, adjusted EBITDA of $65 million to $67 million, and net income of $17 million to $19 million. Student starts are expected to increase 15% to 16%. Capital expenditures are projected at $75 million to $80 million, with about 80% related to growth initiatives, including new campuses and program expansions. Recent business developments include the opening of a new campus in Houston, Texas, and the relocation of the Levittown, Pennsylvania campus. A lease has been signed for a new campus in Rowlett, Texas, scheduled to open in the first quarter of 2027, offering automotive and skilled trade programs. Lincoln currently operates 22 active campuses, with two additional campuses planned.