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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2022
Mar. 31, 2022
Jun. 30, 2021
Mar. 31, 2021
Jun. 30, 2022
Jun. 30, 2021
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:              
Net income $ 259 $ 272 $ 2,426 $ 4,489 $ 532 $ 6,915  
Adjustments to reconcile net income to net cash provided by operating activities:              
Depreciation and amortization         3,057 3,693  
Amortization of deferred finance charges         0 91  
Deferred income taxes         64 2,022  
Gain on disposition of assets         (195) 0  
Fixed asset donations         (145) (2,050)  
Provision for doubtful accounts         16,165 11,108  
Stock-based compensation expense         1,730 1,337  
(Increase) decrease in assets:              
Accounts receivable         (21,838) (13,878)  
Inventories         (361) (933)  
Prepaid income taxes and income taxes payable         (1,793) (700)  
Prepaid expenses and current assets         345 (529)  
Other assets, net         (84) 384  
Increase (decrease) in liabilities:              
Accounts payable         1,301 (3,425)  
Accrued expenses         (4,782) (1,856)  
Unearned tuition         (3,723) (1,270)  
Other liabilities         (265) 158  
Total adjustments         (10,524) (5,848)  
Net cash (used in) provided by operating activities         (9,992) 1,067  
CASH FLOWS FROM INVESTING ACTIVITIES:              
Capital expenditures         (3,582) (3,516)  
Proceeds from sale of property and equipment         2,390 0  
Net cash used in investing activities         (1,192) (3,516)  
CASH FLOWS FROM FINANCING ACTIVITIES:              
Payments on borrowings         0 (1,000)  
Proceeds from borrowings         0 0  
Dividend payment for preferred stock         (608) (608)  
Share repurchase         (2,538) 0  
Net share settlement for equity-based compensation         (1,992) (962)  
Net cash used in financing activities         (5,138) (2,570)  
NET DECREASE IN CASH AND CASH EQUIVALENTS         (16,322) (5,019)  
CASH AND CASH EQUIVALENTS-Beginning of period   $ 83,307   $ 38,026 83,307 38,026 $ 38,026
CASH AND CASH EQUIVALENTS-End of period $ 66,985   $ 33,007   66,985 33,007 $ 83,307
Cash paid for:              
Interest         118 566  
Income taxes         1,206 652  
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES:              
Liabilities accrued for or noncash additions of fixed assets         $ 591 $ 3,362