Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
Current assets:
Cash, cash equivalents, and restricted cash (Note 2)	$ 193,144	$ 158,941
Accounts receivable, net of allowance of $19,837 in 2025 and $19,280 in 2024	43,908	62,465
Prepaid expenses	14,426	13,748
Income tax receivable	7,632	949
Assets held for sale	0	24,469
Total current assets	259,110	260,572
Property and equipment, net	70,739	73,383
Operating lease assets, net	61,596	94,776
Deferred income taxes	40,075	47,311
Intangible assets, net	28,221	28,221
Goodwill	59,593	59,593
Other assets, net	5,962	6,247
Total assets	525,296	570,103
Current liabilities:
Accounts payable	7,708	7,847
Accrued compensation and benefits	30,033	20,546
Accrued liabilities	18,024	13,735
Deferred revenue and student deposits	23,952	23,474
Lease liabilities, current	11,672	13,553
Total current liabilities	91,389	79,155
Lease liabilities, long-term	60,203	93,645
Long-term debt, net	94,368	93,424
Total liabilities	245,960	266,224
Commitments and contingencies (Note 10)
Stockholders’ equity:
Preferred stock, $.01 par value; 10,000,000 shares authorized; 400 shares issued and outstanding in 2024, ($117,439 liquidation preference per share, $46,976 in aggregate, for 2024) (Note 12)	0	39,691
Common stock, $.01 par value; 100,000,000 shares authorized; 18,080,212 issued and outstanding in 2025; 17,712,575 issued and outstanding in 2024	181	177
Additional paid-in capital	308,290	305,823
Accumulated other comprehensive loss	(27)	(7)
Accumulated deficit	(29,108)	(41,805)
Total stockholders’ equity	279,336	303,879
Total liabilities and stockholders’ equity	$ 525,296	$ 570,103