Revenue Recognition (Tables)

9 Months Ended

Sep. 30, 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 and nine months ended September 30, 2023 and 2024 (in thousands):

	For the three months ended September 30,				For the nine months ended September 30,
	2023		2024		2023		2024
U.S. Higher Education Segment
Tuition, net of discounts, grants and scholarships	$	192,850	$	198,873	$	575,725	$	616,175
Other(1)	8,978		8,836		25,677		27,383
Total U.S. Higher Education Segment	201,828		207,709		601,402		643,558
Australia/New Zealand Segment
Tuition, net of discounts, grants and scholarships	61,667		69,973		165,855		184,611
Other(1)	1,597		1,975		4,384		5,842
Total Australia/New Zealand Segment	63,264		71,948		170,239		190,453
Education Technology Services Segment(2)	20,844		26,301		58,581		74,463
Consolidated revenue	$	285,936	$	305,958	$	830,222	$	908,474

_________________________________________

(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 nine months ended September 30,
	2023		2024
Balance at beginning of period	$	46,842	$	44,480
Revenue deferred	14,543		16,358
Benefit redeemed	(16,931)		(17,054)
Balance at end of period	$	44,454	$	43,784