Revenue Recognition (Tables)

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Summary of Disaggregation of Revenue by Major Source

The following tables disaggregate our revenue by major source for the years ended December 31, 2023, 2022 and 2021 (dollars in thousands):

	For the Year Ended December 31, 2023
	CTU (3)		AIUS (4)		Corporate and Other		Total
Tuition, net (1)	$	443,971	$	227,099	$	-	$	671,070
Technology and miscellaneous fees		20,849		11,001		-		31,850
Total tuition and fees, net		464,820		238,100		-		702,920
Other revenue(2)		4,106		2,200		778		7,084
Total revenue	$	468,926	$	240,300	$	778	$	710,004
	For the Year Ended December 31, 2022
	CTU (3)		AIUS (4)		Corporate and Other		Total
Tuition, net (1)	$	396,093	$	258,667	$	-	$	654,760
Technology and miscellaneous fees		20,270		12,642		-		32,912
Total tuition and fees, net		416,363		271,309		-		687,672
Other revenue(2)		3,254		3,170		1,112		7,536
Total revenue	$	419,617	$	274,479	$	1,112	$	695,208
	For the Year Ended December 31, 2021
	CTU (3)		AIUS (4)		Corporate and Other		Total
Tuition, net (1)	$	384,307	$	269,645	$	-	$	653,952
Technology and miscellaneous fees		22,476		11,987		-		34,463
Total tuition and fees, net		406,783		281,632		-		688,415
Other revenue(2)		1,766		1,728		1,125		4,619
Total revenue	$	408,549	$	283,360	$	1,125	$	693,034

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(1)Tuition includes revenue earned for all degree-granting programs as well as revenue earned for non-degree and professional development programs.

(2)Other revenue primarily includes contract training revenue and miscellaneous non-student related revenue.

(3)CTU includes revenue related to an acquisition completed on December 1, 2022 and an acquisition completed on September 10, 2021.

(4)AIUS includes revenue related to an acquisition completed on July 1, 2022 and an acquisition completed on August 2, 2021.

Summary of Deferred Revenue Balances Offset with Contract Assets

The amount of deferred revenue balances which are being offset with contract assets balances as of December 31, 2023 and 2022 were as follows (dollars in thousands):

	As of December 31,
	2023			2022
Gross deferred revenue	$	63,970		$	107,200
Gross contract assets		(26,755	)		(35,610	)
Deferred revenue, net	$	37,215		$	71,590

Changes in Deferred Revenue Balances

Changes in our deferred revenue balances for the years ended December 31, 2023 and 2022 were as follows (dollars in thousands):

	For the Year Ended December 31, 2023
	CTU			AIUS			Total
Gross deferred revenue, January 1, 2023	$	67,245		$	39,955		$	107,200
Revenue earned from prior balances		(60,232	)		(33,294	)		(93,526	)
Billings during period (1)		443,022			218,821			661,843
Revenue earned for new billings during the period		(404,588	)		(204,806	)		(609,394	)
Other adjustments		(2,916	)		763			(2,153	)
Gross deferred revenue, December 31, 2023	$	42,531		$	21,439		$	63,970
	For the Year Ended December 31, 2022
	CTU			AIUS			Total
Gross deferred revenue, January 1, 2022	$	64,674		$	49,045		$	113,719
Business acquisitions, beginning balance		10,324			2,419			12,743
Revenue earned from prior balances		(59,520	)		(39,183	)		(98,703	)
Billings during period (1)		408,796			260,513			669,309
Revenue earned for new billings during the period		(356,843	)		(232,126	)		(588,969	)
Other adjustments		(186	)		(713	)		(899	)
Gross deferred revenue, December 31, 2022	$	67,245		$	39,955		$	107,200

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(1)Billings during period includes adjustments for prior billings.