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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities    
Net income $ 13,389 $ 887
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 8,080 10,360
Amortization of debt issuance costs 688 758
Stock-based compensation 4,501 3,741
Equity investment loss 0 4,407
Deferred income taxes 1,354 249
Loss on assets held for sale 1,527 0
Loss on disposals of long-lived assets 265 212
Changes in operating assets and liabilities:    
Accounts receivable, net of allowance for bad debt 24,890 12,143
Prepaid expenses (4,560) (2,802)
Income tax receivable/payable (1,547) (3,605)
Operating leases, net (185) 3,045
Other assets (374) (541)
Accounts payable 2,220 (1,664)
Accrued compensation and benefits (229) 686
Accrued liabilities 295 3,529
Deferred revenue and student deposits 1,493 1,793
Net cash provided by operating activities 51,807 33,198
Investing activities    
Capital expenditures (7,600) (11,416)
Proceeds from the sale of real property 22,950 0
Net cash provided by (used in) investing activities 15,350 (11,416)
Financing activities    
Cash paid for repurchase of common stock (3,723) (4,133)
Cash received from exercise of stock options 158 67
Preferred stock dividends paid (2,751) (3,066)
Cash paid for redemption of preferred stock (43,096) 0
Cash paid for principal on borrowings and finance leases (107) (2,801)
Net cash used in financing activities (49,519) (9,933)
Net increase in cash, cash equivalents, and restricted cash 17,638 11,849
Cash, cash equivalents, and restricted cash at beginning of period 158,941 144,342
Cash, cash equivalents, and restricted cash at end of period 176,579 156,191
Supplemental disclosure of cash flow information    
Interest paid 4,820 5,433
Income taxes paid $ 4,063 $ 4,297