Universal Technical Institute Files Q1 FY2025 10-Q

TL;DR

UTI's Q1 FY25 10-Q is in: check financials for the latest quarter.

AI Summary

Universal Technical Institute, Inc. filed its 10-Q for the period ending December 31, 2024. The company reported its financial performance for the first quarter of fiscal year 2025. Key financial data and operational details are presented in this filing, which covers the period from October 1, 2024, to December 31, 2024.

Why It Matters

This filing provides investors and analysts with the latest financial performance data for Universal Technical Institute, Inc., crucial for understanding the company's current operational health and future prospects.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant new risks disclosed.

Key Players & Entities

• UNIVERSAL TECHNICAL INSTITUTE INC (company) — Filer of the 10-Q
• 2024-12-31 (date) — End of the reporting period
• 2025-02-06 (date) — Date of filing
• 0001261654 (company) — Central Index Key for Universal Technical Institute Inc.

FAQ

Filing Documents

• uti-20241231.htm (10-Q) — 1139KB
• exhibit311-q12025.htm (EX-31.1) — 10KB
• exhibit312-q12025.htm (EX-31.2) — 10KB
• exhibit321-q12025.htm (EX-32.1) — 7KB
• exhibit322-q12025.htm (EX-32.2) — 7KB
• 0001261654-25-000007.txt ( ) — 6783KB
• uti-20241231.xsd (EX-101.SCH) — 43KB
• uti-20241231_cal.xml (EX-101.CAL) — 85KB
• uti-20241231_def.xml (EX-101.DEF) — 196KB
• uti-20241231_lab.xml (EX-101.LAB) — 611KB
• uti-20241231_pre.xml (EX-101.PRE) — 430KB
• uti-20241231_htm.xml (XML) — 981KB

Financial Statements

Financial Statements Condensed Consolidated Balance Sheets at December 31 , 2024 and September 30, 202 4 (Unaudited) 1 Condensed Consolidated Statements of Operations for the Three Months Ended December 3 1 , 2024 and 2023 (Unaudited) 2 Condensed Consolidated Statements of Other Comprehensive Income for the Three Months Ended December 3 1 , 2024 and 2023 (Unaudited) 3 Condensed Consolidated Statements of Shareholders' Equity as of December 3 1 , 2024 and 2023 (Unaudited) 4 Condensed Consolidated Statements of Cash Flows for the Three Months Ended December 3 1 , 2024 and 2023 (Unaudited) 5 Notes to Condensed Consolidated Financial Statements (Unaudited) 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 20 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 30 Item 4.

Controls and Procedures

Controls and Procedures 30 PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 32 Item 1A.

Risk Factors

Risk Factors 32 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 32 Item 3. Defaults upon Senior Securities 32 Item 4. Mine Safety Disclosures 32 Item 5. Other Information 32 Item 6. Exhibits 33

SIGNATURES

SIGNATURES 34 Table of Contents CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q and the documents incorporated by reference herein contain forward-looking statements within the meaning of the safe harbor from civil liability provided for such statements by the Private Securities Litigation Reform Act of 1995 (set forth in Section 21E of the Securities Exchange Act of 1934, as amended ("Exchange Act") and Section 27A of the Securities Act of 1933, as amended ("Securities Act")), which include information relating to future events, future financial performance, strategies, expectations, competitive environment, regulation and availability of resources and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. From time to time, we also provide forward-looking statements in other materials we release to the public as well as verbal forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "could," "would," "expects," "plans," "anticipates," "believes," "estimates," "projects," "predicts," "potential" and similar expressions (including the negative form of such expressions) intended to identify forward-looking statements, although not all forward looking statements contain these identifying words. Forward-looking statements are based on our current expectations and assumptions, do not strictly relate to historical or current facts, any of which may not prove to be accurate. Many factors could cause actual results to differ materially and adversely from these forward-looking statements. Important factors that could cause actual results to differ from those in our forward-looking statements include, without limitation: failure of our schools to

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

Item 1. FINANCIAL STATEMENTS UNIVERSAL TECHNICAL INSTITUTE, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except par value and per share amounts) (Unaudited) December 31, 2024 September 30, 2024 Assets Cash and cash equivalents $ 171,999 $ 161,900 Restricted cash 5,755 5,572 Receivables, net 27,933 31,096 Notes receivable, current portion 6,224 6,200 Prepaid expenses 12,851 11,945 Other current assets 6,111 5,238 Total current assets 230,873 221,951 Property and equipment, net 262,261 264,797 Goodwill 28,459 28,459 Intangible assets, net 18,007 18,229 Notes receivable, less current portion 39,558 36,267 Right-of-use assets for operating leases 155,666 158,778 Deferred tax assets, net 4,415 3,563 Other assets 14,517 12,531 Total assets $ 753,756 $ 744,575 Liabilities and Shareholders' Equity Accounts payable and accrued expenses $ 81,655 $ 83,866 Deferred revenue 88,375 92,538 Operating lease liabilities, current portion 21,688 22,210 Long-term debt, current portion 2,738 2,697 Other current liabilities 7,900 3,652 Total current liabilities 202,356 204,963 Deferred tax liabilities, net 4,696 4,696 Operating lease liabilities 144,409 146,831 Long-term debt 117,327 123,007 Other liabilities 4,992 4,847 Total liabilities 473,780 484,344 Commitments and contingencies (Note 13) Shareholders' equity: Common stock, $ 0.0001 par value, 100,000 shares authorized, 54,448 and 53,899 shares issued, 54,366 and 53,817 shares outstanding as of December 31, 2024 and September 30, 2024, respectively. 5 5 Paid-in capital - common 218,023 220,976 Treasury stock, at cost, 82 shares as of December 31, 2024 and September 30, 2024. ( 365 ) ( 365 ) Retained earnings 60,662 38,509 Accumulated other comprehensive income 1,651 1,106 Total shareholders' equity 279,976 260,231 Total liabilities and shareholders' equity $ 753,756 $ 744,575 The accompanying notes are an integral part of these unaudited condensed con

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