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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities    
Net income $ 8,893 $ 516
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 3,992 5,128
Amortization of debt issuance costs 348 383
Stock-based compensation 2,263 1,918
Equity investment loss 0 3,327
Deferred income taxes 1,245 343
Loss on assets held for sale 1,527 0
Loss on disposals of long-lived assets 230 28
Changes in operating assets and liabilities:    
Accounts receivable, net of allowance for bad debt 20,593 6,402
Prepaid expenses (6,919) (4,078)
Income tax receivable/payable 1,126 156
Operating leases, net (58) 1,507
Other assets (405) (584)
Accounts payable 2 (1,325)
Accrued compensation and benefits (2,507) 31
Accrued liabilities 5,055 3,888
Deferred revenue and student deposits 1,613 3,104
Net cash provided by operating activities 36,998 20,744
Investing activities    
Capital expenditures (3,902) (6,218)
Proceeds from the sale of real property 500 0
Net cash used in investing activities (3,402) (6,218)
Financing activities    
Cash paid for repurchase of common stock (3,693) (4,108)
Cash received from exercise of stock options 143 0
Preferred stock dividends paid (1,432) (1,535)
Cash paid for principal on borrowings and finance leases (53) (28)
Net cash used in financing activities (5,035) (5,671)
Net increase in cash, cash equivalents, and restricted cash 28,561 8,855
Cash, cash equivalents, and restricted cash at beginning of period 158,941 144,342
Cash, cash equivalents, and restricted cash at end of period 187,502 153,197
Supplemental disclosure of cash flow information    
Interest paid 2,398 2,713
Income taxes paid $ 80 $ 618