CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2026	Sep. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 11,018	$ 7,298
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	22,125	12,680
Finance lease amortization	1,253	1,253
Amortization of deferred finance charges	157	107
Deferred income taxes	0	547
Loss (gain) on sale of assets	8	(466)
Fixed asset donations	(175)	(197)
Provision for credit losses	47,062	42,584
Stock-based compensation expense	4,777	4,081
(Increase) decrease in assets:
Accounts receivable	(50,658)	(53,919)
Inventories	276	(40)
Prepaid income taxes	1,353	(1,431)
Prepaid expenses and current assets	9,808	(3,802)
Other assets, net	79	1,950
Increase (decrease) in liabilities:
Accounts payable	12,550	(2,856)
Accrued expenses	566	4,813
Unearned tuition	1,444	2,854
Income taxes payable	0	(1,072)
Other liabilities	(128)	1,419
Total adjustments	50,497	8,505
Net cash provided by operating activities	61,515	15,803
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(67,370)	(68,127)
Proceeds from sale of property and equipment	534	494
Net cash used in investing activities	(66,836)	(67,633)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from borrowings	95,000	45,000
Payments on borrowings	(85,000)	(37,000)
Payment of deferred finance fees	(1,253)	(121)
Finance lease principal paid	(340)	(266)
Tenant allowance finance leases	0	2,212
Principal payments on mortgage loan	(20)	0
Proceeds from mortgage loan	15,040	0
Repurchases of common stock	(19,298)	0
Net share settlement for equity-based compensation	(6,700)	(3,788)
Net cash (used in) provided by financing activities	(2,571)	6,037
NET DECREASE IN CASH AND CASH EQUIVALENTS	(7,892)	(45,793)
CASH AND CASH EQUIVALENTS —Beginning of period	28,519	59,273
CASH AND CASH EQUIVALENTS—End of period	20,627	13,480
Cash paid for:
Interest	2,821	2,347
Income taxes	737	4,857
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES:
Liabilities accrued for or noncash additions of fixed assets	8,180	5,593
Unsettled repurchases of common stock	1,694	0
Excise tax on share repurchases	$ 111	$ 0