2024 Q3 Form 10-K Financial Statement

#000149315224038926 Filed on October 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2024
Revenue $14.01M $46.00M
YoY Change 35.09% 29.74%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $81.14K $265.0K
YoY Change 40.24% 18.06%
% of Gross Profit
Operating Expenses $11.33M $39.78M
YoY Change 26.11% 24.97%
Operating Profit $2.672M $6.217M
YoY Change 93.57% 71.66%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $231.5K $768.7K
YoY Change 101.58% 216.53%
Pretax Income $2.904M $6.985M
YoY Change 94.18% 80.76%
Income Tax $813.1K $1.871M
% Of Pretax Income 28.0% 26.78%
Net Earnings $2.091M $5.115M
YoY Change 95.47% 91.8%
Net Earnings / Revenue 14.93% 11.12%
Basic Earnings Per Share $0.22 $0.55
Diluted Earnings Per Share $0.21 $0.53
COMMON SHARES
Basic Shares Outstanding 11.87M shares 9.291M shares
Diluted Shares Outstanding 9.818M shares 9.691M shares

Balance Sheet

Concept 2024 Q3 2024 Q2 2024
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $21.49M $10.38M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses $963.5K $1.032M
Receivables $12.26M $13.04M
Other Receivables $140.9K $140.9K
Total Short-Term Assets $34.85M $24.59M
YoY Change 41.72%
LONG-TERM ASSETS
Property, Plant & Equipment $1.185M $990.0K
YoY Change 45.57%
Goodwill $1.929M $1.929M
YoY Change 0.0%
Intangibles $1.054M $1.055M
YoY Change -0.52%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $15.73M $10.59M
YoY Change 6.96%
TOTAL ASSETS
Total Short-Term Assets $34.85M $24.59M
Total Long-Term Assets $15.73M $10.59M
Total Assets $50.58M $35.17M
YoY Change 29.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $569.0K $574.2K
YoY Change -15.34%
Long-Term Debt Due $619.0K $624.2K
YoY Change
Total Short-Term Liabilities $11.35M $10.47M
YoY Change 23.23%
LONG-TERM LIABILITIES
Long-Term Debt $139.2K $123.9K
YoY Change 173.28%
Other Long-Term Liabilities $89.00 $905.00
YoY Change
Total Long-Term Liabilities $139.3K $123.9K
YoY Change 173.28%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.35M $10.47M
Total Long-Term Liabilities $139.3K $123.9K
Total Liabilities $18.02M $12.75M
YoY Change 7.87%
SHAREHOLDERS EQUITY
Retained Earnings $8.314M $6.223M
YoY Change 461.37%
Common Stock $11.87K $9.291K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $32.56M $22.42M
YoY Change
Total Liabilities & Shareholders Equity $50.58M $35.17M
YoY Change 29.1%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2024
OPERATING ACTIVITIES
Net Income $2.091M $5.115M
YoY Change 95.47% 91.8%
Depreciation, Depletion And Amortization $81.14K $265.0K
YoY Change 40.24% 18.06%
Cash From Operating Activities $3.185M $1.649M
YoY Change 557.27% -6.82%
INVESTING ACTIVITIES
Capital Expenditures $235.8K $423.7K
YoY Change 32.93% 117.2%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$235.8K -$423.7K
YoY Change 32.93% 117.2%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $8.167M -$238.5K
YoY Change -4069.9% -77.31%
NET CHANGE
Cash From Operating Activities $3.185M $1.649M
Cash From Investing Activities -$235.8K -$423.7K
Cash From Financing Activities $8.167M -$238.5K
Net Change In Cash $11.12M $986.5K
YoY Change 10852.08% 88.62%
FREE CASH FLOW
Cash From Operating Activities $3.185M $1.649M
Capital Expenditures $235.8K $423.7K
Free Cash Flow $2.949M $1.225M
YoY Change 860.03% -22.18%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2024 dei Entity Central Index Key
EntityCentralIndexKey
0001836754
CY2024Q2 LGCY Related Party Receivable Current
RelatedPartyReceivableCurrent
usd
CY2024Q2 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
usd
CY2023Q2 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
usd
CY2023Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
usd
CY2023Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
usd
CY2024Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
usd
CY2023Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
usd
CY2024Q2 us-gaap Preferred Stock Value
PreferredStockValue
usd
CY2023Q2 us-gaap Preferred Stock Value
PreferredStockValue
usd
CY2023 us-gaap Share Based Compensation
ShareBasedCompensation
usd
CY2023 us-gaap Increase Decrease In Due From Related Parties Current
IncreaseDecreaseInDueFromRelatedPartiesCurrent
usd
CY2024 us-gaap Payments Of Dividends
PaymentsOfDividends
usd
CY2024 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
usd
CY2023 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
usd
CY2023 LGCY Noncash Purchase Of Financed Lease Assets
NoncashPurchaseOfFinancedLeaseAssets
usd
CY2024 LGCY Non Cash Dividend
NonCashDividend
usd
CY2024Q2 LGCY Related Party Receivable Current
RelatedPartyReceivableCurrent
usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
usd
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
shares
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
CY2023 LGCY Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term Granted
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTermGranted
CY2024 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
shares
CY2024 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
CY2024 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
shares
CY2024 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
shares
CY2023Q2 LGCY Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageExercisePrice
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
CY2023 LGCY Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageRemainingContractualTerm
CY2024 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
shares
CY2024 LGCY Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Exercise Price Expired
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageExercisePriceExpired
CY2024 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
CY2024 LGCY Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Exercised In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisedInPeriod
shares
CY2024 LGCY Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Exercise Price Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageExercisePriceExercised
CY2024 LGCY Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Exercised Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisedWeightedAverageGrantDateFairValue
CY2024 LGCY Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Exercised Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisedWeightedAverageRemainingContractualTerm
CY2023Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
usd
CY2024Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
usd
CY2023Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
usd
CY2024 dei Document Annual Report
DocumentAnnualReport
true
CY2024 dei Document Period End Date
DocumentPeriodEndDate
2024-06-30
CY2024 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--06-30
CY2024 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
CY2024 dei Document Transition Report
DocumentTransitionReport
false
CY2024 dei Entity File Number
EntityFileNumber
001-42283
CY2024 dei Entity Registrant Name
EntityRegistrantName
LEGACY EDUCATION INC.
CY2024 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
NV
CY2024 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
84-5167957
CY2024 dei Entity Address Address Line1
EntityAddressAddressLine1
701 W Avenue K
CY2024 dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 123
CY2024 dei Entity Address City Or Town
EntityAddressCityOrTown
Lancaster
CY2024 dei Entity Address State Or Province
EntityAddressStateOrProvince
CA
CY2024 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
93534
CY2024 dei City Area Code
CityAreaCode
(661)
CY2024 dei Local Phone Number
LocalPhoneNumber
940-9300
CY2024 dei Security12b Title
Security12bTitle
Common stock, $0.001 par value
CY2024 dei Trading Symbol
TradingSymbol
LGCY
CY2024 dei Security Exchange Name
SecurityExchangeName
NYSEAMER
CY2024 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2024 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2024 dei Entity Current Reporting Status
EntityCurrentReportingStatus
No
CY2024 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2024 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2024 dei Entity Small Business
EntitySmallBusiness
true
CY2024 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
CY2024 dei Entity Ex Transition Period
EntityExTransitionPeriod
false
CY2024 dei Icfr Auditor Attestation Flag
IcfrAuditorAttestationFlag
false
CY2024 dei Document Fin Stmt Error Correction Flag
DocumentFinStmtErrorCorrectionFlag
false
CY2024 dei Entity Shell Company
EntityShellCompany
false
CY2024Q3 dei Entity Public Float
EntityPublicFloat
22868544.00 usd
CY2024Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
11867162 shares
CY2024 dei Auditor Name
AuditorName
L J Soldinger Associates, LLC
CY2024 dei Auditor Location
AuditorLocation
Deer Park, IL
CY2024 dei Auditor Firm
AuditorFirmId
318
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
10376149 usd
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
9291224 usd
CY2024Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
688848 usd
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
340060 usd
CY2024Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
13038241 usd
CY2023Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
7184788 usd
CY2024Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1032325 usd
CY2023Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
661559 usd
CY2024Q2 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
140894 usd
CY2023Q2 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
141454 usd
CY2023Q2 LGCY Related Party Receivable Current
RelatedPartyReceivableCurrent
69975 usd
CY2024Q2 us-gaap Assets Current
AssetsCurrent
24587609 usd
CY2023Q2 us-gaap Assets Current
AssetsCurrent
17349000 usd
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
989952 usd
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
680073 usd
CY2023Q2 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
98382 usd
CY2024Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3575369 usd
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
4433202 usd
CY2024Q2 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
340048 usd
CY2024Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
1054947 usd
CY2023Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
1060458 usd
CY2024Q2 us-gaap Goodwill
Goodwill
1929326 usd
CY2023Q2 us-gaap Goodwill
Goodwill
1929326 usd
CY2024Q2 us-gaap Accounts Receivable Net Noncurrent
AccountsReceivableNetNoncurrent
1381194 usd
CY2023Q2 us-gaap Accounts Receivable Net Noncurrent
AccountsReceivableNetNoncurrent
1143410 usd
CY2024Q2 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
898000 usd
CY2023Q2 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
168000 usd
CY2024Q2 us-gaap Security Deposit
SecurityDeposit
416605 usd
CY2023Q2 us-gaap Security Deposit
SecurityDeposit
383545 usd
CY2024Q2 us-gaap Assets
Assets
35173050 usd
CY2023Q2 us-gaap Assets
Assets
27245396 usd
CY2024Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
3862895 usd
CY2023Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
2582173 usd
CY2024Q2 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
1443335 usd
CY2023Q2 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
147055 usd
CY2024Q2 us-gaap Deferred Income Current
DeferredIncomeCurrent
2585747 usd
CY2023Q2 us-gaap Deferred Income Current
DeferredIncomeCurrent
3473726 usd
CY2024Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
24201 usd
CY2023Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
30434 usd
CY2024Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
574244 usd
CY2023Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
678257 usd
CY2024Q2 LGCY Debt Owed Related Party Current
DebtOwedRelatedPartyCurrent
50000 usd
CY2023Q2 LGCY Debt Owed Related Party Current
DebtOwedRelatedPartyCurrent
50000 usd
CY2024Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
57260 usd
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1868560 usd
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1531624 usd
CY2024Q2 us-gaap Liabilities Current
LiabilitiesCurrent
10466242 usd
CY2023Q2 us-gaap Liabilities Current
LiabilitiesCurrent
8493269 usd
CY2024Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
123862 usd
CY2023Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
45325 usd
CY2024Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
215409 usd
CY2024Q2 us-gaap Other Liabilities
OtherLiabilities
905 usd
CY2023Q2 us-gaap Other Liabilities
OtherLiabilities
33774 usd
CY2024Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1947620 usd
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
3250944 usd
CY2024Q2 us-gaap Liabilities
Liabilities
12754038 usd
CY2023Q2 us-gaap Liabilities
Liabilities
11823312 usd
CY2024Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2023Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2024Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2023Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2024Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2024Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2023Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2023Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2024Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2023Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2024Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
9291149 shares
CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
9291149 shares
CY2023Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
9291149 shares
CY2023Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
9291149 shares
CY2024Q2 us-gaap Common Stock Value
CommonStockValue
9291 usd
CY2023Q2 us-gaap Common Stock Value
CommonStockValue
9291 usd
CY2024Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
16186251 usd
CY2023Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
14304175 usd
CY2024Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
6223470 usd
CY2023Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1108618 usd
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
22419012 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
15422084 usd
CY2024Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
35173050 usd
CY2023Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
27245396 usd
CY2024 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
46000316 usd
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
35455948 usd
CY2024 LGCY Educational Service Expenses
EducationalServiceExpenses
26351326 usd
CY2023 LGCY Educational Service Expenses
EducationalServiceExpenses
20785421 usd
CY2024 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
12999164 usd
CY2023 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
10651402 usd
CY2024 LGCY General And Administrative Related Party
GeneralAndAdministrativeRelatedParty
168000 usd
CY2023 LGCY General And Administrative Related Party
GeneralAndAdministrativeRelatedParty
173000 usd
CY2024 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
265036 usd
CY2023 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
224488 usd
CY2024 us-gaap Operating Expenses
OperatingExpenses
39783526 usd
CY2023 us-gaap Operating Expenses
OperatingExpenses
31834311 usd
CY2024 us-gaap Operating Income Loss
OperatingIncomeLoss
6216790 usd
CY2023 us-gaap Operating Income Loss
OperatingIncomeLoss
3621637 usd
CY2024 us-gaap Interest Expense Nonoperating
InterestExpenseNonoperating
118162 usd
CY2023 us-gaap Interest Expense Nonoperating
InterestExpenseNonoperating
96259 usd
CY2024 us-gaap Investment Income Interest
InvestmentIncomeInterest
886834 usd
CY2023 us-gaap Investment Income Interest
InvestmentIncomeInterest
339102 usd
CY2024 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
768672 usd
CY2023 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
242843 usd
CY2024 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
6985462 usd
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
3864480 usd
CY2024 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1870610 usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1197741 usd
CY2024 us-gaap Net Income Loss
NetIncomeLoss
5114852 usd
CY2023 us-gaap Net Income Loss
NetIncomeLoss
2666739 usd
CY2024 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.55
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.29
CY2024 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.53
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.28
CY2024 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9291149 shares
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9216949 shares
CY2024 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9691149 shares
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9616949 shares
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
13601483 usd
CY2023 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
45067 usd
CY2023 us-gaap Dividends
Dividends
929116 usd
CY2023 us-gaap Net Income Loss
NetIncomeLoss
2666739 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
15422084 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
15422084 usd
CY2024 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1882076 usd
CY2024 us-gaap Net Income Loss
NetIncomeLoss
5114852 usd
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
22419012 usd
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
22419012 usd
CY2024 us-gaap Net Income Loss
NetIncomeLoss
5114852 usd
CY2023 us-gaap Net Income Loss
NetIncomeLoss
2666739 usd
CY2024 us-gaap Share Based Compensation
ShareBasedCompensation
1882076 usd
CY2024 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
265036 usd
CY2023 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
224488 usd
CY2024 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-730000 usd
CY2023 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-75792 usd
CY2024 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
348788 usd
CY2023 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-152891 usd
CY2024 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
6440025 usd
CY2023 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1994737 usd
CY2024 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
370766 usd
CY2023 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
5510 usd
CY2024 us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
-560 usd
CY2023 us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
-569040 usd
CY2024 us-gaap Increase Decrease In Due From Related Parties Current
IncreaseDecreaseInDueFromRelatedPartiesCurrent
-69975 usd
CY2024 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
183917 usd
CY2023 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
141802 usd
CY2024 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
1283922 usd
CY2023 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
163411 usd
CY2024 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
1296280 usd
CY2023 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
143220 usd
CY2024 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-887979 usd
CY2023 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
373270 usd
CY2024 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1648802 usd
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1769436 usd
CY2024 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
423710 usd
CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
195076 usd
CY2024 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-423710 usd
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-195076 usd
CY2023 us-gaap Payments Of Dividends
PaymentsOfDividends
916724 usd
CY2023 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
33800 usd
CY2024 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
67379 usd
CY2024 us-gaap Repayments Of Debt
RepaymentsOfDebt
171170 usd
CY2023 us-gaap Repayments Of Debt
RepaymentsOfDebt
168394 usd
CY2024 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-238549 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1051318 usd
CY2024 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
986543 usd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
523042 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9389606 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8866564 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10376149 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9389606 usd
CY2024 us-gaap Interest Paid Net
InterestPaidNet
118162 usd
CY2023 us-gaap Interest Paid Net
InterestPaidNet
96259 usd
CY2024 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1304329 usd
CY2023 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1030364 usd
CY2024 LGCY Noncash Purchase Of Financed Lease Assets
NoncashPurchaseOfFinancedLeaseAssets
340048 usd
CY2023 LGCY Non Cash Dividend
NonCashDividend
12392 usd
CY2024 us-gaap Noncash Or Part Noncash Acquisition Debt Assumed1
NoncashOrPartNoncashAcquisitionDebtAssumed1
145694 usd
CY2023 us-gaap Noncash Or Part Noncash Acquisition Debt Assumed1
NoncashOrPartNoncashAcquisitionDebtAssumed1
11267 usd
CY2024 us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_805_eus-gaap--NatureOfOperations_zqrlZ8vQrMM7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 1 - <span id="xdx_82A_zoqFmAj5gBl3">Nature of Business</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For purposes of these financial statements, “Legacy,”, the “Company,” “we,” “our,” “us,” or similar references refers to Legacy Education Inc. and its consolidated subsidiaries, unless the context requires otherwise. Legacy Education, LLC was formed on October 19, 2009 in the state of California as a limited liability company. The Company operates as career institution that focuses on real-life training by utilizing educational practices in different job markets. The Company offers programs in career paths such as healthcare, veterinary, medical information technology, business management, and green technology. The Company is accredited by the Accrediting Council for Continuing Education and Training (“ACCET”), and the Accrediting Bureau of Health Education Schools (“ABHES”) and approved to operate in the state of California by the Bureau for Private Postsecondary Education (“BPPE”). The consolidated financial statements include accounts of Legacy Education Inc. d/b/a High Desert Medical College (“HDMC”) and its wholly owned subsidiary, Legacy Education Monterey LLC (“Monterey”) d/b/a Central Coast College (“CCC”), and its wholly owned subsidiary, Advanced Health Services, LLC d/b/a Integrity College of Health (“Integrity”). Pursuant to an Agreement and Plan of Merger and Reorganization (the “Reorganization Merger”), dated September 1, 2021, effective as of September 3, 2021 (the “Effective Date”), Legacy Education Merger Sub, LLC, a wholly owned subsidiary of Legacy Education Inc. formed solely for the purpose of implementing the Reorganization Merger, merged with and into Legacy Education, LLC, with Legacy Education, LLC surviving the merger and becoming a wholly owned subsidiary of Legacy Education Inc., a corporation formed on March 18, 2020 in the State of Nevada for the sole purpose of restructuring the Company from a member-owned Limited Liability Corporation to a shareholder-owned C-Corporation. <span id="xdx_909_eus-gaap--CommonStockConversionBasis_c20210903__20210903__srt--OwnershipAxis__custom--LegacyEducationMergerSubLLCMember_zvubk9ZhjxJ5" title="Common stock, conversion basis">On the Effective Date, in exchange for each Class A Unit owned in Legacy Education, LLC, the members of Legacy Education, LLC received one share of common stock in Legacy Education Inc. in a one for one exchange.</span> The members immediately prior to the Reorganization Merger became the <span id="xdx_901_eus-gaap--MinorityInterestOwnershipPercentageByNoncontrollingOwners_iI_dp_c20210903__srt--OwnershipAxis__custom--LegacyEducationMergerSubLLCMember_zwkks7rjJKdh" title="Ownership percentage">100%</span> owners of Legacy Education Inc. immediately following the Reorganization Merger.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">HDMC offers instruction in twenty nine programs including ultrasound technician, ultrasound technician associate of applied science degree, medical billing and coding, vocational nursing, clinical medical assisting, pharmacy technician, dental assisting, medical administrative vocational nursing associate of applied science degree and registered nursing</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">CCC, a wholly-owned subsidiary of HDMC, offers instruction in healthcare career training programs, and veterinary career training.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.3pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Integrity, a wholly-owned subsidiary of HDMC, is an accredited college offering instruction in medical assisting, vocational nursing, medical insurance coding and billing, diagnostic medical sonography (ultrasound technician) and Bachelors of Science in nursing (RN to BSN).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.3pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.3pt; text-align: justify">The accompanying consolidated financial statements, and all per share information contained herein, have been retroactively adjusted to reflect the reverse stock split described in Note 16.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.3pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.3pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.2pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Legacy Education Inc.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes to Consolidated Financial Statements</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>For Fiscal Years ended June 30, 2024 and 2023</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_848_eus-gaap--UseOfEstimates_zcXgpZ41bxua" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_86F_zYqivB7aOo9k">Use of Estimates</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant items subject to such estimates and assumptions include the assumptions used in the evaluation of the Company’s distinct performance obligations, the valuation of equity instruments and allowance for credit losses related to accounts receivable.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p id="xdx_843_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zXCC1OphujL2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.1pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_86A_zfXGNLZ2h6p1">Reclassifications</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.1pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.1pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain amounts in the prior period financial statements have been reclassified to conform to the current period presentation. These reclassifications had no effect on reported consolidated net income.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024 us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
The Company has elected to apply the short-term scope exception for leases with terms of 12 months or less at the inception of the lease and will continue to recognize rent expense on a straight-line basis.
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
5700000 usd
CY2022Q3 LGCY Estimated Incremental Borrowing Rate
EstimatedIncrementalBorrowingRate
0.0398 pure
CY2022Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
5300000 usd
CY2024 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2023 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2024 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2023 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2024 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0 usd
CY2023 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0 usd
CY2024 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
46000316 usd
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
35455948 usd
CY2024 LGCY Minimum Required Attendance Percentage
MinimumRequiredAttendancePercentage
0.60 pure
CY2024 LGCY Minimum Required Attendance Percentage
MinimumRequiredAttendancePercentage
0.60 pure
CY2024 us-gaap Advertising Expense
AdvertisingExpense
4124485 usd
CY2023 us-gaap Advertising Expense
AdvertisingExpense
3589432 usd
CY2024 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_849_eus-gaap--ConcentrationRiskCreditRisk_z9olURXXghic" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_863_zZSdyMG1MRfk">Concentration of Credit Risk</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A substantial portion of revenues and ending accounts receivable at June 30, 2024 and 2023 are a direct result of the Company’s participation in Financial Student Aid (“FSA”) programs, which represents a primary source of student tuition. The FSA programs are subject to political budgetary considerations. There is no assurance that funding will be maintained at current levels. The FSA programs are subject to significant regulatory requirements. Any regulatory violation could have a material effect on the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.2pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Legacy Education Inc.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes to Consolidated Financial Statements</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>For Fiscal Years ended June 30, 2024 and 2023</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 2 – Summary of Significant Accounting Principals (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company maintains its cash and cash equivalents in various financial institutions. Accounts at these institutions are insured by the Federal Deposit Insurance Corporation up to $<span id="xdx_906_eus-gaap--CashFDICInsuredAmount_iI_c20240630_zIPcH1KeEnad" title="FDIC insured amount">250,000</span>. The Company performs ongoing evaluations of these institutions to limit concentration risk exposure. The Company maintains cash balances in excess of these limits from time to time.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of June 30, 2024 and 2023, $<span id="xdx_908_eus-gaap--MoneyMarketFundsAtCarryingValue_iI_pn4n6_c20240630_zt6087TN93h1" title="Cash maintained in redeemable money market">2.15</span> and $<span id="xdx_903_eus-gaap--MoneyMarketFundsAtCarryingValue_iI_pn5n6_c20230630_z9h9o3YheTag" title="Cash maintained in redeemable money market">6.1</span> million, respectively, was maintained in a redeemable money market account bearing interest at approximately <span id="xdx_903_ecustom--PercentageOfInterestBearingDepositsInBanks_iI_pid_dp_c20240630_zJJP1M2gve23" title="Percentage of interest bearing deposits in banks">4.88%</span> per annum.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2024Q2 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
2150000 usd
CY2023Q2 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
6100000 usd
CY2024Q2 LGCY Percentage Of Interest Bearing Deposits In Banks
PercentageOfInterestBearingDepositsInBanks
0.0488 pure
CY2024 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2024 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.0884 pure
CY2024 us-gaap Class Of Warrant Or Right Expense Or Revenue Recognized
ClassOfWarrantOrRightExpenseOrRevenueRecognized
Company total annual gross revenue of at least $1.235 billion
CY2024 us-gaap Debt Conversion Description
DebtConversionDescription
Company has issued more than $1.0 billion of non-convertible debt in any three-year period
CY2024 us-gaap Net Income Loss
NetIncomeLoss
5114852 usd
CY2023 us-gaap Net Income Loss
NetIncomeLoss
2666739 usd
CY2024 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9291149 shares
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9216949 shares
CY2024 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
400000 shares
CY2023 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
400000 shares
CY2024 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9691149 shares
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9616949 shares
CY2024 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.55
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.29
CY2024 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.53
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.28
CY2024Q2 us-gaap Goodwill
Goodwill
1929326 usd
CY2023Q2 us-gaap Goodwill
Goodwill
1929326 usd
CY2024Q2 us-gaap Finite Lived Trade Names Gross
FiniteLivedTradeNamesGross
796100 usd
CY2023Q2 us-gaap Finite Lived Trade Names Gross
FiniteLivedTradeNamesGross
796600 usd
CY2024Q2 LGCY Finite Lived Accreditation Gross
FiniteLivedAccreditationGross
88200 usd
CY2023Q2 LGCY Finite Lived Accreditation Gross
FiniteLivedAccreditationGross
88200 usd
CY2024Q2 LGCY Finite Lived Course Curriculum Gross
FiniteLivedCourseCurriculumGross
198000 usd
CY2023Q2 LGCY Finite Lived Course Curriculum Gross
FiniteLivedCourseCurriculumGross
198000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
3011626 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
3012126 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
27353 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
22342 usd
CY2024Q2 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
2984273 usd
CY2023Q2 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
2989784 usd
CY2024 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2023 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2024 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5011 usd
CY2023 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5011 usd
CY2024 LGCY Percentage Of Goodwill Expected To Deducted In Income Tax
PercentageOfGoodwillExpectedToDeductedInIncomeTax
1 pure
CY2024 LGCY Goodwill Amortization Period
GoodwillAmortizationPeriod
P15Y
CY2024Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2565163 usd
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2006272 usd
CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1575211 usd
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1326199 usd
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
989952 usd
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
680073 usd
CY2024 us-gaap Depreciation And Amortization
DepreciationAndAmortization
260025 usd
CY2023 us-gaap Depreciation And Amortization
DepreciationAndAmortization
219477 usd
CY2024Q2 us-gaap Accounts Receivable Net Noncurrent
AccountsReceivableNetNoncurrent
1381194 usd
CY2023Q2 us-gaap Accounts Receivable Net Noncurrent
AccountsReceivableNetNoncurrent
1143410 usd
CY2024Q2 LGCY Prepaid Books
PrepaidBooks
199122 usd
CY2023Q2 LGCY Prepaid Books
PrepaidBooks
190815 usd
CY2024Q2 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
833203 usd
CY2023Q2 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
470744 usd
CY2024Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1032325 usd
CY2023Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
661559 usd
CY2024Q2 us-gaap Other Receivables Gross Current
OtherReceivablesGrossCurrent
94454 usd
CY2023Q2 us-gaap Other Receivables Gross Current
OtherReceivablesGrossCurrent
94454 usd
CY2024Q2 us-gaap Grants Receivable
GrantsReceivable
46440 usd
CY2024Q2 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
140894 usd
CY2023Q2 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
141454 usd
CY2024 us-gaap Income Taxes Paid
IncomeTaxesPaid
106846 usd
CY2023 us-gaap Income Taxes Paid
IncomeTaxesPaid
106846 usd
CY2024Q2 us-gaap Other Receivables Gross Current
OtherReceivablesGrossCurrent
94454 usd
CY2023Q2 us-gaap Other Receivables Gross Current
OtherReceivablesGrossCurrent
94454 usd
CY2021Q2 us-gaap Grants Receivable
GrantsReceivable
2900000 usd
CY2024Q2 us-gaap Grants Receivable
GrantsReceivable
46440 usd
CY2023Q2 us-gaap Grants Receivable
GrantsReceivable
47000 usd
CY2024Q2 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
1532576 usd
CY2023Q2 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
722709 usd
CY2024Q2 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
641594 usd
CY2023Q2 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
450388 usd
CY2024Q2 us-gaap Accrued Vacation Current
AccruedVacationCurrent
447482 usd
CY2023Q2 us-gaap Accrued Vacation Current
AccruedVacationCurrent
453397 usd
CY2024Q2 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
1200000 usd
CY2023Q2 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
824821 usd
CY2024Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
41243 usd
CY2023Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
130858 usd
CY2024Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
3862895 usd
CY2023Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
2582173 usd
CY2024Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
550000 usd
CY2023Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
650000 usd
CY2024Q2 us-gaap Loans Payable To Bank
LoansPayableToBank
45942 usd
CY2023Q2 us-gaap Loans Payable To Bank
LoansPayableToBank
109888 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
624244 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
57924 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
50390 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
15548 usd
CY2024Q2 us-gaap Long Term Debt
LongTermDebt
748106 usd
CY2024Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
624244 usd
CY2024Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
123862 usd
CY2023Q2 LGCY Related Party Receivable Current
RelatedPartyReceivableCurrent
69975 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
81459 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
81459 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
81459 usd
CY2024Q2 LGCY Finance Lease Liability Payments Due After Year Four
FinanceLeaseLiabilityPaymentsDueAfterYearFour
81458 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
325835 usd
CY2024Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
53166 usd
CY2024Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
272669 usd
CY2024Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
57260 usd
CY2024Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
215409 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1964416 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1533688 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
341511 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
123736 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
3963351 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
147171 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
3816180 usd
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1868560 usd
CY2024Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1947620 usd
CY2024 LGCY Rent Expense And Related Taxes And Operating Expenses
RentExpenseAndRelatedTaxesAndOperatingExpenses
3368780 usd
CY2023 LGCY Rent Expense And Related Taxes And Operating Expenses
RentExpenseAndRelatedTaxesAndOperatingExpenses
3066341 usd
CY2024Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3575369 usd
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
4433202 usd
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1868560 usd
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1531624 usd
CY2024Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1947620 usd
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
3250944 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
3816180 usd
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
4782568 usd
CY2024 us-gaap Operating Lease Payments
OperatingLeasePayments
1900505 usd
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
1520021 usd
CY2024Q2 us-gaap Capital Units Authorized
CapitalUnitsAuthorized
110000000 shares
CY2023Q2 us-gaap Capital Units Authorized
CapitalUnitsAuthorized
110000000 shares
CY2024Q2 LGCY Capital Stock Par Or Stated Value Per Share
CapitalStockParOrStatedValuePerShare
0.001
CY2023Q2 LGCY Capital Stock Par Or Stated Value Per Share
CapitalStockParOrStatedValuePerShare
0.001
CY2024Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2023Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2024Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2023Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
9291149 shares
CY2023Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
9291149 shares
CY2024Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2024Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2023Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2023Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
502916 shares
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.34
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y1M28D
CY2023 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
86666 shares
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.52
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
16250 shares
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
0.52
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
400000 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.54
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y1M20D
CY2024 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1425171 shares
CY2024 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
3.74
CY2024 LGCY Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term Granted
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTermGranted
P10Y
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1825171 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.26
CY2024 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y3M18D
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1387534 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
3.11
CY2024 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y10M2D
CY2024 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
1425171 shares
CY2024 LGCY Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Exercise Price Grants
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageExercisePriceGrants
3.74
CY2024 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.84
CY2024 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
987534 shares
CY2024 LGCY Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Exercise Price Vested
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageExercisePriceVested
3.74
CY2024 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
1.84
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
437637 shares
CY2024Q2 LGCY Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageExercisePrice
3.74
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
1.84
CY2024 LGCY Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageRemainingContractualTerm
P9Y9M
CY2024 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.45 pure
CY2024 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0418 pure
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
1.84
CY2024 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1882076 usd
CY2024Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
737333 usd
CY2024 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y9M
CY2017Q4 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35 pure
CY2024 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2024 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
1779079 usd
CY2023 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
764827 usd
CY2024 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
821531 usd
CY2023 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
357122 usd
CY2024 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
2600610 usd
CY2023 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
1121949 usd
CY2024 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-513740 usd
CY2023 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
53339 usd
CY2024 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-216260 usd
CY2023 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
22453 usd
CY2024 LGCY Deferred Income Tax Expense
DeferredIncomeTaxExpense
-730000 usd
CY2023 LGCY Deferred Income Tax Expense
DeferredIncomeTaxExpense
75792 usd
CY2024 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1870610 usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1197741 usd
CY2024 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
1466947 usd
CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
811540 usd
CY2024 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
57841 usd
CY2023 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
9714 usd
CY2024 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-303187 usd
CY2023 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-26154 usd
CY2024 LGCY Income Tax Reconciliation Provision To Return
IncomeTaxReconciliationProvisionToReturn
-151584 usd
CY2023 LGCY Income Tax Reconciliation Provision To Return
IncomeTaxReconciliationProvisionToReturn
157338 usd
CY2024 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
821531 usd
CY2023 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
310511 usd
CY2024 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
-20938 usd
CY2023 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
-65208 usd
CY2024 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1870610 usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1197741 usd
CY2024Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Deferred Rent
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsDeferredRent
72000 usd
CY2023Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Deferred Rent
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsDeferredRent
104000 usd
CY2024Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts
206000 usd
CY2023Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts
101000 usd
CY2024Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Bonuses
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeBonuses
492000 usd
CY2023Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Bonuses
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeBonuses
355000 usd
CY2024Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
562000 usd
CY2024Q2 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
1332000 usd
CY2023Q2 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
560000 usd
CY2024Q2 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
1332000 usd
CY2023Q2 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
560000 usd
CY2024Q2 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
434000 usd
CY2023Q2 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
392000 usd
CY2024Q2 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
434000 usd
CY2023Q2 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
392000 usd
CY2024Q2 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
898000 usd
CY2023Q2 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
168000 usd
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 LGCY Rule10b51 Arr Modified Flag
Rule10b51ArrModifiedFlag
false
CY2024Q2 LGCY Non Rule10b51 Arr Modified Flag
NonRule10b51ArrModifiedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

Name View Source Status
0001493152-24-038926-index-headers.html Edgar Link pending
0001493152-24-038926-index.html Edgar Link pending
0001493152-24-038926.txt Edgar Link pending
0001493152-24-038926-xbrl.zip Edgar Link pending
ex14-1.htm Edgar Link pending
ex23-1.htm Edgar Link pending
ex31-1.htm Edgar Link pending
ex31-2.htm Edgar Link pending
ex32-1.htm Edgar Link pending
ex97-1.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
form10-k.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
lgcy-20240630.xsd Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
lgcy-20240630_cal.xml Edgar Link unprocessable
lgcy-20240630_def.xml Edgar Link unprocessable
lgcy-20240630_lab.xml Edgar Link unprocessable
lgcy-20240630_pre.xml Edgar Link unprocessable
form10-k_htm.xml Edgar Link completed
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R57.htm Edgar Link pending
R58.htm Edgar Link pending
R59.htm Edgar Link pending
R6.htm Edgar Link pending
R60.htm Edgar Link pending
R61.htm Edgar Link pending
R62.htm Edgar Link pending
R63.htm Edgar Link pending
R64.htm Edgar Link pending
R65.htm Edgar Link pending
R66.htm Edgar Link pending
R67.htm Edgar Link pending
R68.htm Edgar Link pending
R69.htm Edgar Link pending
R7.htm Edgar Link pending
R70.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending