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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 9,891 $ 25,997 $ 12,634
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 11,334 6,596 6,362
Amortization of deferred finance fees 133 0 0
Finance lease amortization 1,622 175 0
Deferred income taxes (2,242) 1,632 1,294
Loss on sale of assets 2,119 (30,918) (177)
Gain on insurance proceeds (2,794) 0 0
Proceeds from insurance 2,794 0 0
Impairment of goodwill and long-lived assets 0 4,220 1,049
Fixed asset donation (277) (239) (408)
Provision for credit losses 56,578 41,637 34,915
Stock-based compensation expense 4,629 5,894 3,111
(Increase) decrease in assets:      
Accounts receivable (65,984) (45,757) (48,637)
Inventories (184) (330) 103
Prepaid expenses and current assets (687) 900 (11)
Other assets 110 1,041 450
Increase (decrease) in liabilities:      
Accounts payable 11,583 5,039 (2,033)
Accrued expenses (1,667) 5,027 (7,016)
Unearned tuition 3,770 2,752 (1,251)
Income taxes payable (1,760) 777 1,038
Other liabilities 338 1,115 (541)
Total adjustments 19,415 (439) (11,752)
Net cash provided by operating activities 29,306 25,558 882
CASH FLOWS FROM INVESTING ACTIVITIES:      
Capital expenditures (56,866) (40,699) (8,986)
Proceeds from sale of property and equipment 9,895 33,310 2,390
Proceeds from sale of short-term investments 0 39,102 0
Purchase of short-term investments 0 (24,344) (14,758)
Net cash (used in) provided by investing activities (46,971) 7,369 (21,354)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Payment of deferred finance fees (456) 0 0
Net share settlement for equity-based compensation (3,370) (2,054) (1,992)
Dividend payment for preferred stock 0 0 (1,111)
Finance lease principal (267) 0 0
Tenant allowance finance leases 762 0 0
Share repurchase 0 (891) (9,445)
Net cash used in financing activities (3,331) (2,945) (12,548)
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (20,996) 29,982 (33,020)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH - Beginning of year 80,269 50,287 83,307
CASH, CASH EQUIVALENTS AND RESTRICTED CASH - End of year 59,273 80,269 50,287
Cash paid during the year for:      
Interest 2,354 110 171
Income taxes 8,836 7,201 1,471
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES:      
Liabilities accrued for or noncash purchases of property and equipment $ 8,181 $ 3,522 $ 1,300