SEGMENTS

3 Months Ended

Mar. 31, 2024

SEGMENTS [Abstract]

SEGMENTS

10. SEGMENTS

As of January 1, 2023, the Company’s business has been organized into two reportable business segments: (a) Campus Operations; and (b) Transitional. These segments are defined below:

Campus Operations – The Campus Operations segment includes campuses that are continuing in operation and contribute to the Company’s core operations and performance.

Transitional – The Transitional segment refers to businesses that are marked for closure and are currently being taught out.  As of March 31, 2024, there were no campuses classified in the Transitional segment.  However, in the prior year the Company’s Somerville, Massachusetts campus was classified in the Transitional segment and was fully taught out as of December 31, 2023.

We evaluate performance based on operating results.  Adjustments to reconcile segment results to consolidated results are included in the caption “Corporate,” which primarily includes unallocated corporate activity.

Summary financial information by reporting segment is as follows:

	For the Three Months Ended March 31,
	Revenue										Operating Income (Loss)
	2024		% of Total			2023		% of Total			2024			2023
Campus Operations	$	103,366		100.0	%	$	86,352		98.9	%	$	12,324		$	10,109
Transitional		-		0.0	%		932		1.1	%		-			(197	)
Corporate		-		0.0	%		-		0.0	%		(12,782	)		(11,028	)
Total	$	103,366		100.0	%	$	87,284		100.0	%	$	(458	)	$	(1,116	)

	Total Assets
	March 31, 2024		December 31, 2023
Campus Operations	$	249,738	$	234,940
Transitional		-		262
Corporate		105,425		110,047
Total	$	355,163	$	345,249