Revenue Recognition (Tables)

3 Months Ended

Mar. 31, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue from Contracts with Customers

The following table presents the Company’s revenues from contracts with customers disaggregated by material revenue category for the three months ended March 31, 2023 and 2024 (in thousands):

	For the three months ended March 31,
	2023		2024
U.S. Higher Education Segment
Tuition, net of discounts, grants and scholarships	$	188,513	$	209,731
Other(1)	8,382		9,505
Total U.S. Higher Education Segment	196,895		219,236
Australia/New Zealand Segment
Tuition, net of discounts, grants and scholarships	40,422		45,634
Other(1)	1,081		1,741
Total Australia/New Zealand Segment	41,503		47,375
Education Technology Services Segment(2)	18,208		23,639
Consolidated revenue	$	256,606	$	290,250

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(1)Other revenue is primarily comprised of academic fees, sales of course materials, placement fees and other non-tuition revenue streams.

(2)Education Technology Services revenue is primarily derived from tuition revenue.

Schedule of Graduation Fund liability

The table below presents activity in the contract liability related to the Graduation Fund (in thousands):

	For the three months ended March 31,
	2023		2024
Balance at beginning of period	$	46,842	$	44,480
Revenue deferred	4,652		3,134
Benefit redeemed	(5,574)		(5,527)
Balance at end of period	$	45,920	$	42,087