SEGMENTS (Tables)

9 Months Ended

Sep. 30, 2025

SEGMENTS [Abstract]

Financial Information by Reporting Segment

Summary financial information by reporting segment is as follows:

	Three Months Ended September 30,
			Consolidated				Campus Operations							Transitional				Corporate
			2025		2024				2025		2024			2025		2024				2025			2024
REVENUE		$	141,389	$	114,410			$	141,389	$	112,745		$	-	$	1,665			$	-		$	-
COSTS AND EXPENSES:
Instructional			24,813		22,411				24,813		21,834			-		577				-			-
Books and tools			14,915		11,472				14,915		11,156			-		316				-			-
Facilities			12,239		11,111				12,239		10,847			-		264				-			-
Depreciation and amortization			5,316		3,061				5,316		3,042			-		19				-			-
Educational services and facilities			57,283		48,055				57,283		46,879			-		1,176				-			-
Sales and marketing			25,347		20,393				25,347		19,948			-		445				-			-
Student services			6,332		5,365				6,332		5,157			-		208				-			-
Provision for credit losses			17,572		15,261				17,566		15,096			-		165				6			-
Administrative			28,416		22,151				11,590		10,171			-		311				16,826			11,669
Depreciation and amortization			144		169				-		-			-		-				144			169
Selling, general and administrative			77,811		63,339				60,835		50,372			-		1,129				16,976			11,838
Loss (gain) on sale of assets			10		(12	)			10		(12	)		-		-				-			-
Gain on insurance proceeds			-		(2,794	)			-		-			-		-				-			(2,794	)
Total costs and expenses			135,104		108,588				118,128		97,239			-		2,305				16,976			9,044
OPERATING INCOME (LOSS)		$	6,285		5,822			$	23,261	$	15,506		$	-	$	(640	)		$	(16,976	)	$	(9,044	)

		Nine Months Ended September 30,
		Consolidated						Campus Operations					Transitional					Corporate
		2025			2024			2025			2024		2025		2024			2025			2024
REVENUE	$	375,369		$	320,691		$	375,369		$	315,301	$	-	$	5,390		$	-		$	-
COSTS AND EXPENSES:
Instructional		71,372			67,833			71,372			66,030		-		1,803			-			-
Books and tools		29,393			25,472			29,393			24,673		-		799			-			-
Facilities		37,257			34,352			37,257			33,621		-		731			-			-
Depreciation and amortization		13,461			8,982			13,461			8,926		-		56			-			-
Educational services and facilities		151,483			136,639			151,483			133,250		-		3,389			-			-
Sales and marketing		63,920			58,222			63,920			56,968		-		1,254			-			-
Student services		18,933			16,302			18,933			15,640		-		662			-			-
Provision for credit losses		42,584			40,823			42,542			40,175		-		648			42			-
Administrative		85,866			65,815			34,750			30,425		-		871			51,116			34,519
Depreciation and amortization		472			535			-			-		-		-			472			535
Selling, general and administrative		211,775			181,697			160,145			143,208		-		3,435			51,630			35,054
(Gain) loss on sale of assets		(466	)		901			(500	)		590		-		-			34			311
Gain on insurance proceeds		-			(2,794	)		-			-		-		-			-			(2,794	)
Total costs and expenses		362,792			316,443			311,128			277,048		-		6,824			51,664			32,571
OPERATING INCOME (LOSS)	$	12,577		$	4,248		$	64,241		$	38,253	$	-	$	(1,434	)	$	(51,664	)	$	(32,571	)