Laureate Education (LAUR) investor relations material

Executive summary

• Q1 2026 revenue grew 15% to $272.6M, driven by strong enrollment growth (new up 9%, total up 6%), favorable FX, and higher average enrollment, with Peru leading (new enrollments up 13%) and Mexico steady (new up 4%).

• Operating loss widened to $(27.5)M from $(13.2)M, mainly due to higher costs, depreciation, and academic calendar timing.

• Net loss was $(21.6)M ($0.15/share); Adjusted net loss was $(23.9)M ($0.17/share).

• $105M in share repurchases completed in Q1, with $76M remaining authorized; Adjusted EPS guidance raised to $2.00–$2.08 (+16%–21%) reflecting buybacks.

• Mission-driven focus on affordable, high-quality education with measurable outcomes: 50% first-generation students, 90% job placement within 12 months, and rapid payback on education investment.

Financial highlights

• Q1 revenue: $272.6M (+15% reported, +1% constant currency); Adjusted EBITDA: $(2.3)M, down from $5.4M, impacted by calendar timing and new campus investments.

• Operating loss: $(27.5)M, up from $(13.2)M year-over-year; net loss: $(21.6)M, compared to $(19.6)M prior year.

• Free cash flow: $53.6M, up from $53.3M in Q1 2025; cash flow from operations: $61.9M, up from $57.8M.

• Depreciation and amortization rose to $22.6M, up $6.5M due to campus expansions and currency effects.

• Basic and diluted loss per share: $(0.15), compared to $(0.13) year-over-year.

Outlook and guidance

• Full-year 2026 guidance: enrollments 516,000–521,000 (+4%–5%), revenue $1.89B–$1.905B (+11%–12% reported, +6%–7% constant currency), Adjusted EBITDA $583M–$593M (+12%–14% reported, +7%–9% constant currency).

• Adjusted EPS guidance raised to $2.00–$2.08 (+16%–21%), reflecting share repurchases.

• Q2 2026 guidance: revenue $597M–$601M, Adjusted EBITDA $239M–$243M.

• Margin expansion expected in both Mexico and Peru, with most accretion in the second half of the year.

• Management expects sufficient liquidity for at least the next 12 months, supported by operating cash flow and available credit.