Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

Changes in the carrying amount of goodwill by reportable segment during the years ended December 31, 2023, and 2024, are as follows (in thousands):

	APUS Segment		RU Segment		HCN Segment		Total Goodwill
Goodwill as of December 31, 2022	$	—	$	86,030	$	26,563	$	112,593
Impairment	—		(53,000)		—		(53,000)
Goodwill as of December 31, 2023	$	—	$	33,030	$	26,563	$	59,593
Impairment	—		—		—		—
Goodwill as of December 31, 2024	$	—	$	33,030	$	26,563	$	59,593

Schedule of Identified Intangible Assets with Definite Life

The useful life assigned to each type of intangible asset with a definite useful life was as follows:

	Useful Life
Student contracts and relationships	2.5 years - 6 years
Non-compete agreements	5 years
Curricula	3 years
Accreditation and licensing	2.5 years
Lead conversions	2 years
Student Roster	2 years
Trade name	1 year

Schedule of Intangible Assets and Goodwill

The following table represents the balance of the Company’s intangible assets as of December 31, 2023 (in thousands):

	Gross Carrying Amount		Accumulated Amortization		Impairment		Net Carrying Amount
Finite-lived intangible assets
Student roster	$	20,000	$	20,000	$	—	$	—
Curricula	14,563		11,400		—		3,163
Student contracts and relationships	4,614		4,465		—		149
Lead conversions	1,500		1,500		—		—
Non-compete agreements	86		86		—		—
Tradename	35		35		—		—
Accreditation and licensing	28		22		—		6
Total finite-lived intangible assets	$	40,826	$	37,508	$	—	$	3,318
Indefinite-lived intangible assets
Trade name	28,498		—		8,000		20,498
Accreditation, licensing, and Title IV	26,186		—		18,500		7,686
Affiliation agreements	37		—		—		37
Total indefinite-lived intangible assets	54,721		—		26,500		28,221
Total intangible assets	$	95,547	$	37,508	$	26,500	$	31,539

The following table represents the balance of the Company’s intangible assets as of December 31, 2024 (in thousands):

	Gross Carrying Amount		Accumulated Amortization		Impairment		Net Carrying Amount
Finite-lived intangible assets
Student roster	$	20,000	$	20,000	$	—	$	—
Curricula	14,563		14,563		—		—
Student and customer contracts and relationships	4,614		4,614		—		—
Lead conversions	1,500		1,500		—		—
Non-compete agreements	86		86		—		—
Tradename	35		35		—		—
Accreditation and licensing	28		28		—		—
Total finite-lived intangible assets	$	40,826	$	40,826	$	—	$	—
Indefinite-lived intangible assets
Trade name	28,498		—		8,000		20,498
Accreditation, licensing, and Title IV	26,186		—		18,500		7,686
Affiliation agreements	37		—		—		37
Total indefinite-lived intangible assets	54,721		—		26,500		28,221
Total intangible assets	$	95,547	$	40,826	$	26,500	$	28,221