Segment Information (Tables)

3 Months Ended

Mar. 31, 2025

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 March 31,
	2025	2024
	(In thousands)
APUS Segment
Revenue	83,946	80,656
Instructional costs and services	27,311	25,788
Selling and promotional	15,701	15,184
General and administrative	14,234	15,354
Other (1)	2,574	1,243
Income from operations before interest and income taxes	24,126	23,087
RU Segment
Revenue	59,251	53,135
Instructional costs and services	33,144	33,097
Selling and promotional	16,452	15,122
General and administrative	7,390	7,637
Other (2)	2,337	6,245
Loss from operations before interest and income taxes	(72)	(8,966)
HCN Segment
Revenue	17,676	16,447
Instructional costs and services	11,310	10,552
Selling and promotional	1,947	1,105
General and administrative	4,660	4,773
Other (3)	505	321
Loss from operations before interest and income taxes	(746)	(304)
Corporate and Other
Revenue	3,678	4,194
Instructional costs and services	3,179	2,988
Selling and promotional	1,105	1,045
General and administrative	10,123	8,513
Other (3)	333	283
Loss from operations before interest and income taxes	(11,062)	(8,635)
Total reportable segment revenue	160,873	150,238
Corporate and other revenue	3,678	4,194
Total consolidated revenue	164,551	154,432
Total reportable segment income from operations before interest and income taxes	23,308	13,817
Corporate and other (loss) from operations before interest and income taxes	(11,062)	(8,635)
Total consolidated income from operations before interest and income taxes	12,246	5,182

(1) Includes loss on assets held for sale, loss on disposal of long-lived assets, and depreciation and amortization expense.

(2) Includes loss on disposal of long-lived assets and depreciation and amortization expense.

(3) Includes depreciation and amortization expense.

Summary of Financial Information

	Three Months Ended March 31,
	2025	2024
	(In thousands)
Depreciation and amortization
APUS Segment	1,029	1,240
RU Segment	2,125	3,284
HCN Segment	505	322
Total reportable segment depreciation and amortization	3,659	4,846
Corporate and Other	333	282
Total consolidated depreciation and amortization	3,992	5,128
Interest expense, net
APUS Segment	319	412
RU Segment	381	—
HCN Segment	85	25
Total reportable segment interest expense, net	785	437
Corporate and Other	(1,672)	(563)
Total consolidated interest expense, net	(887)	(126)
Income tax expense (benefit)
APUS Segment	7,734	7,481
RU Segment	(162)	(2,731)
HCN Segment	(259)	(71)
Total reportable segment income tax expense	7,313	4,679
Corporate and Other	(4,847)	(3,466)
Total consolidated income tax expense	2,466	1,213