How did LINC's revenue and expenses trend in Q4 2024?

**Lincoln Educational Services Corporation (LINC) experienced notable growth in revenue and a decrease in certain expenses during Q4 2024, reflecting operational efficiency improvements and strategic growth initiatives.** 1. **Revenue Growth**: LINC's revenue for Q4 2024 was $114.4 million, marking a 15.0% increase from the same period in the previous year. This growth was driven by a 21.1% increase in student starts and a 16% rise in revenue in the second quarter, indicating a strong demand for LINC's educational services. 2. **Operating Expenses**: The company's adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for Q4 2024 was $10.2 million, which is a significant improvement from the previous year, reflecting better operational efficiency. Additionally, the company's SG&A (Selling, General, and Administrative) expenses fell below 56% of revenue, down from 57.6% in the prior year, suggesting effective cost management. 3. **Capital Expenditures**: LINC's capital expenditures for Q4 2024 were approximately $10 million, which is part of a reduced full-year guidance of $45 million to $55 million, indicating a strategic approach to investment and financial prudence. 4. **Financial Outlook**: LINC's updated 2024 guidance includes a revenue forecast of $430 million to $435 million, an adjusted EBITDA of $41 million to $43 million, and an adjusted net income of $16 million to $18 million. These figures reflect confidence in continued growth and profitability. In conclusion, LINC's Q4 2024 financial performance highlights a strong revenue growth trajectory, effective cost management, and a strategic approach to capital expenditures, contributing to improved profitability and operational efficiency.