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Segment Information
 6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Segment Information Segment Information
 
The Company has three reportable segments: the APUS Segment, the RU Segment, and the HCN Segment. GSUSA does not meet the quantitative thresholds to qualify as a reportable segment; therefore, its operational activities are presented below within Corporate and Other. Adjustments to reconcile segment results to the Consolidated Financial Statements, including unallocated corporate activity and eliminations are also included in Corporate and Other.

In accordance with FASB ASC 280, Segment Reporting, the chief operating decision-maker has been identified as the Company’s Chief Executive Officer. The Company’s Chief Executive Officer reviews operating results to make decisions about allocating resources and assessing performance for the APUS, RU, and HCN Segments.
 
A summary of financial information by reportable segment is as follows (in thousands):    
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
(Unaudited)(Unaudited)
Revenue:
APUS Segment$77,048 $73,557 $157,704 $147,535 
RU Segment53,034 51,971 106,169 109,438 
HCN Segment16,409 14,266 32,856 27,406 
Corporate and Other6,404 7,420 10,598 12,524 
Total Revenue$152,895 $147,214 $307,327 $296,903 
Depreciation and amortization:
APUS Segment$1,215 $1,291 $2,455 $2,691 
RU Segment3,331 6,195 6,615 12,122 
HCN Segment365 323 687 613 
Corporate and Other321 144 603 283 
Total Depreciation and amortization$5,232 $7,953 $10,360 $15,709 
Income (loss) from operations before interest and income taxes:
APUS Segment$18,291 $18,941 $41,378 $36,015 
RU Segment(8,826)(77,274)(17,792)(90,138)
HCN Segment(744)(235)(1,048)(1,538)
Corporate and Other(6,501)(6,700)(15,136)$(14,977)
Total income (loss) from operations before interest and income taxes$2,220 $(65,268)$7,402 $(70,638)
Interest income (expense):
APUS Segment$468 $669 $880 $829 
RU Segment(10)— (10)1 
HCN Segment27 23 52 42 
Corporate and Other(1,270)(1,789)(1,833)(3,748)
Total Interest expense, net$(785)$(1,097)$(911)$(2,876)
Income tax expense (benefit):
APUS Segment$7,364 $4,207 $14,845 $9,720 
RU Segment(3,366)(18,224)(6,097)(22,178)
HCN Segment(258)160 (329)(185)
Corporate and Other(3,756)(1,280)(7,222)(3,908)
Total Income tax expense (benefit)$(16)$(15,137)$1,197 $(16,551)
Capital expenditures:
APUS Segment$829 $1,349 $1,430 $1,649 
RU Segment1,005 1,279 3,752 3,285 
HCN Segment2,434 205 4,656 1,032 
Corporate and Other930 514 1,578 587 
Total Capital Expenditures$5,198 $3,347 $11,416 $6,553 
    
A summary of the Company’s consolidated assets by reportable segment is as follows (in thousands):
As of June 30, 2024As of December 31, 2023
(Unaudited)
Assets:
APUS Segment$101,649 $108,749 
RU Segment210,966 220,901 
HCN Segment75,108 60,270 
Corporate and Other172,980 167,466 
Total Assets$560,703 $557,386