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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (214) $ (109)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 2,599 1,255
Finance lease amortization 369 0
Amortization of deferred finance charges 18 0
Deferred income taxes 421 0
Loss on sale of assets 309 0
Fixed asset donations (98) (62)
Provision for credit losses 12,213 8,233
Stock-based compensation expense 1,059 812
(Increase) decrease in assets:    
Accounts receivable (16,860) (8,663)
Inventories 529 (18)
Prepaid income taxes and income taxes payable (545) (508)
Prepaid expenses and current assets (582) (1,636)
Other assets, net 967 924
Increase (decrease) in liabilities:    
Accounts payable (5,561) 2,387
Accrued expenses (4,511) 353
Unearned tuition (4,641) (3,175)
Other liabilities (406) (7)
Total adjustments (14,720) (105)
Net cash used in operating activities (14,934) (214)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital expenditures (1,684) (3,249)
Proceeds from sale of property and equipment 9,718 0
Net cash provided by (used in) investing activities 8,034 (3,249)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payment of deferred finance fees (438) 0
Share repurchase 0 (556)
Net share settlement for equity-based compensation (3,156) (1,779)
Net cash used in financing activities (3,594) (2,335)
NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (10,494) (5,798)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH - Beginning of period 80,269 50,287
CASH, CASH EQUIVALENTS AND RESTRICTED CASH - End of period 69,775 44,489
Cash paid for:    
Interest 34 94
Income taxes 10 0
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES:    
Liabilities accrued for or noncash additions of fixed assets $ 2,085 $ 713