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Revenue Recognition (Tables)

9 Months Ended

Sep. 30, 2022

Revenue From Contract With Customer [Abstract]

Summary of Disaggregation of Revenue by Major Source


		For the Quarter Ended September 30, 2022																For the Quarter Ended September 30, 2021
		CTU (4)				AIUS (5)				Corporate and Other(6)				Total				CTU (4)				AIUS (5)				Corporate and Other(6)				Total
Tuition, net (1)		$	91,765			$	66,621			$	-			$	158,386			$	98,730			$	65,101			$	-			$	163,831
Technology fees			4,630				2,856				-				7,486				5,339				2,962				-				8,301
Other miscellaneous fees (2)			196				369				-				565				278				185				-				463
Total tuition and fees, net			96,591				69,846				-				166,437				104,347				68,248				-				172,595
Other revenue (3)			971				736				276				1,983				441				700				262				1,403
Total revenue		$	97,562			$	70,582			$	276			$	168,420			$	104,788			$	68,948			$	262			$	173,998

		For the Year to Date Ended September 30, 2022																For the Year to Date Ended September 30, 2021
		CTU (4)				AIUS (5)				Corporate and Other(6)				Total				CTU (4)				AIUS (5)				Corporate and Other(6)				Total
Tuition, net (1)		$	293,520			$	195,155			$	-			$	488,675			$	294,058			$	209,722			$	-			$	503,780
Technology fees			14,730				8,895				-				23,625				16,352				8,630				-				24,982
Other miscellaneous fees (2)			641				719				-				1,360				959				509				-				1,468
Total tuition and fees, net			308,891				204,769				-				513,660				311,369				218,861				-				530,230
Other revenue (3)			2,280				2,265				858				5,403				1,276				787				882				2,945
Total revenue		$	311,171			$	207,034			$	858			$	519,063			$	312,645			$	219,648			$	882			$	533,175

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(1)

Tuition includes revenue earned for all degree-granting programs as well as revenue earned for non-degree professional development and continuing education offerings.

(2)

Other miscellaneous fees primarily include graduation fees.

(3)

Other revenue primarily includes contract training revenue and miscellaneous non-student related revenue.

(4)

CTU includes revenue related to an acquisition completed on September 10, 2021.

(5)

AIUS includes revenue related to an acquisition completed on July 1, 2022 and an acquisition completed on August 2, 2021.

(6)

Revenue recorded within Corporate and Other relates to miscellaneous non-student related revenue.

Summary of Deferred Revenue Balances Offset with Contract Assets

The amount of deferred revenue balances which are being offset with contract assets balances as of September 30, 2022 and December 31, 2021 were as follows (dollars in thousands):


		As of
		September 30, 2022				December 31, 2021
Gross deferred revenue		$	98,708			$	113,719
Gross contract assets			(36,730	)			(43,106	)
Deferred revenue, net		$	61,978			$	70,613

Changes in Deferred Revenue Balances

Changes in our deferred revenue balances for the quarters and years to date ended September 30, 2022 and 2021 were as follows (dollars in thousands):


		For the Quarter Ended September 30, 2022												For the Quarter Ended September 30, 2021
		CTU				AIUS				Total				CTU				AIUS				Total
Gross deferred revenue, July 1		$	28,857			$	38,628			$	67,485			$	77,818			$	43,649			$	121,467
Business acquisitions, beginning balance			-				2,419				2,419				3,952				1,404				5,356
Revenue earned from prior balances			(23,765	)			(31,375	)			(55,140	)			(66,878	)			(32,623	)			(99,501	)
Billings during period(1)			142,580				53,254				195,834				90,662				46,547				137,209
Revenue earned for new billings during the period			(72,826	)			(38,471	)			(111,297	)			(37,469	)			(35,625	)			(73,094	)
Other adjustments			(1,003	)			410				(593	)			951				(301	)			650
Gross deferred revenue, September 30		$	73,843			$	24,865			$	98,708			$	69,036			$	23,051			$	92,087

		For the Year to Date Ended September 30, 2022												For the Year to Date Ended September 30, 2021
		CTU				AIUS				Total				CTU				AIUS				Total
Gross deferred revenue, January 1		$	64,674			$	49,045			$	113,719			$	28,522			$	56,880			$	85,402
Business acquisitions, beginning balance			-				2,419				2,419				3,952				1,404				5,356
Revenue earned from prior balances			(56,274	)			(39,219	)			(95,493	)			(26,183	)			(46,020	)			(72,203	)
Billings during period(1)			318,191				177,863				496,054				348,307				183,012				531,319
Revenue earned for new billings during the period			(252,617	)			(165,550	)			(418,167	)			(285,186	)			(172,841	)			(458,027	)
Other adjustments			(131	)			307				176				(376	)			616				240
Gross deferred revenue, September 30		$	73,843			$	24,865			$	98,708			$	69,036			$	23,051			$	92,087

______________

(1)

Billings during period includes adjustments for prior billings.