Segment Information (Tables)

6 Months Ended

Jun. 30, 2024

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
	(Unaudited)				(Unaudited)
Revenue:
APUS Segment	$	77,048	$	73,557	$	157,704	$	147,535
RU Segment	53,034		51,971		106,169		109,438
HCN Segment	16,409		14,266		32,856		27,406
Corporate and Other	6,404		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 Segment	3,331		6,195		6,615		12,122
HCN Segment	365		323		687		613
Corporate and Other	321		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 Segment	27		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 Segment	1,005		1,279		3,752		3,285
HCN Segment	2,434		205		4,656		1,032
Corporate and Other	930		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):