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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash, cash equivalents, and restricted cash (Note 2) $ 156,191 $ 144,342
Accounts receivable, net of allowance of $19,547 in 2024 and $15,359 in 2023 38,830 50,973
Prepaid expenses 15,834 13,032
Income tax receivable 4,079 474
Assets held for sale 8,561 8,561
Total current assets 223,495 217,382
Property and equipment, net 92,463 87,503
Operating lease assets, net 99,723 100,023
Deferred income taxes 51,111 51,360
Intangible assets, net 29,025 31,539
Goodwill 59,593 59,593
Other assets, net 5,293 9,986
Total assets 560,703 557,386
Current liabilities:    
Accounts payable 6,999 8,663
Accrued compensation and benefits 17,397 16,711
Accrued liabilities 16,607 11,476
Deferred revenue and student deposits 25,623 23,830
Lease liabilities, current 12,249 13,309
Total current liabilities 78,875 73,989
Lease liabilities, long-term 100,381 96,739
Long-term debt, net 92,752 94,682
Total liabilities 272,008 265,410
Commitments and contingencies (Note 9)
Stockholders’ equity:    
Preferred stock, $.01 par value; 10,000,000 shares authorized; 400 shares issued and outstanding in 2024 and 2023, respectively ($128,071 and $138,132 liquidation preference per share, $51,228 and $55,253 in aggregate, for 2024 and 2023, respectively) (Note 11) 39,691 39,691
Common stock, $.01 par value; 100,000,000 shares authorized; 17,670,026 issued and outstanding in 2024; 17,604,371 issued and outstanding in 2023 177 176
Additional paid-in capital 302,001 299,561
Accumulated other comprehensive income 867 1,644
Accumulated deficit (54,041) (49,096)
Total stockholders’ equity 288,695 291,976
Total liabilities and stockholders’ equity $ 560,703 $ 557,386