SEGMENTS

6 Months Ended

Jun. 30, 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 campuses that have been marked for closure and are being taught out.  As of June 30, 2024, no campuses were classified in the Transitional segment.  During the prior year, the Company’s Somerville, Massachusetts campus was classified in the Transitional segment.  It was fully taught out as of December 31, 2023.

We evaluate performance based on operating results.  Adjustments to reconcile segment results with 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 June 30,
	Revenue										Operating Income (Loss)
	2024		% of Total			2023		% of Total			2024			2023
Campus Operations	$	102,914		100.0	%	$	88,213		99.5	%	$	9,630		$	4,169
Transitional		-		0.0	%		433		0.5	%		-			(482	)
Corporate		-		0.0	%		-		0.0	%		(10,746	)		19,828
Total	$	102,914		100.0	%	$	88,646		100.0	%	$	(1,116	)	$	23,515

	For the Six Months Ended June 30,
	Revenue										Operating income (Loss)
	2024		% of Total			2023		% of Total			2024			2023
Campus Operations	$	206,281		100.0	%	$	174,565		99.2	%	$	21,954		$	14,278
Transitional		-		0.0	%		1,364		0.8	%		-			(679	)
Corporate		-					-					(23,529	)		8,801
Total	$	206,281		100.0	%	$	175,929		100.0	%	$	(1,575	)	$	22,400

	Total Assets
	June 30, 2024		December 31, 2023
Campus Operations	$	267,676	$	234,940
Transitional		-		262
Corporate		98,703		110,047
Total	$	366,379	$	345,249