Segment Information (Tables)

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Summary of Financial Information by Reportable Segment

A summary of financial information by reportable segment is as follows (in thousands):    

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
	(Unaudited)				(Unaudited)
Revenue:
APUS Segment	$	73,557	$	69,904	$	147,535	$	142,994
RU Segment	51,971		63,891		109,438		130,990
HCN Segment	14,266		11,486		27,406		23,027
Corporate and Other	7,420		4,327		12,524		7,344
Total Revenue	$	147,214	$	149,608	$	296,903	$	304,355
Depreciation and amortization:
APUS Segment	$	1,291	$	1,586	$	2,691	$	3,287
RU Segment	6,195		6,160		12,122		12,239
HCN Segment	323		223		613		445
Corporate and Other	144		150		283		296
Total Depreciation and amortization	$	7,953	$	8,119	$	15,709	$	16,267
Income (loss) from operations before interest and income taxes:
APUS Segment	$	18,941	$	13,624	$	36,015	$	26,806
RU Segment (Note 6)	(77,274)		(146,553)		(90,138)		(145,662)
HCN Segment	(235)		(630)		(1,538)		(1,625)
Corporate and Other	(6,700)		(7,701)		(14,977)		$	(15,579)
Total loss from operations before interest and income taxes	$	(65,268)	$	(141,260)	$	(70,638)	$	(136,060)
Interest income (expense):
APUS Segment	$	669	$	38	$	829	$	77
RU Segment	—		5		1		8
HCN Segment	23		3		42		5
Corporate and Other	(1,789)		(3,436)		(3,748)		$	(6,835)
Total Interest expense	$	(1,097)	$	(3,390)	$	(2,876)	$	(6,745)
Income tax expense (benefit):
APUS Segment	$	4,207	$	10,511	$	9,720	$	15,185
RU Segment	(18,224)		(36,687)		(22,178)		(36,381)
HCN Segment	160		(566)		(185)		(882)
Corporate and Other	(1,280)		(8,590)		(3,908)		(12,214)
Total Income tax benefit	$	(15,137)	$	(35,332)	$	(16,551)	$	(34,292)
Capital expenditures:
APUS Segment	$	1,349	$	957	$	1,649	$	1,398
RU Segment	1,279		2,994		3,285		4,918
HCN Segment	205		390		1,032		890
Corporate and Other	514		3		587		103
Total Capital Expenditures	$	3,347	$	4,344	$	6,553	$	7,309

Summary of Consolidated Assets by Reportable Segment

A summary of the Company’s consolidated assets by reportable segment is as follows (in thousands):

	As of June 30, 2023		As of December 31, 2022
	(Unaudited)
Assets:
APUS Segment	$	124,429	$	113,551
RU Segment	241,543		300,625
HCN Segment	63,298		59,820
Corporate and Other	129,537		141,060
Total Assets	$	558,807	$	615,056