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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
REVENUE:        
Total revenue $ 211,872 $ 169,828 $ 634,457 $ 504,832
OPERATING EXPENSES:        
Educational services and facilities 49,141 28,287 147,924 85,661
General and administrative 101,757 93,694 300,478 270,487
Depreciation and amortization 10,015 3,053 31,970 9,138
Asset impairment       2,468
Total operating expenses 160,913 125,034 480,372 367,754
Operating income 50,959 44,794 154,085 137,078
OTHER INCOME:        
Interest income 6,652 7,702 19,588 21,685
Interest expense (1,592) (82) (4,885) (529)
Miscellaneous income (expense) 2 (52) (24) (7)
Total other income 5,062 7,568 14,679 21,149
PRETAX INCOME 56,021 52,362 168,764 158,227
Provision for income taxes 16,171 14,107 44,198 42,101
NET INCOME $ 39,850 $ 38,255 $ 124,566 $ 116,126
NET INCOME PER SHARE - BASIC: $ 0.62 $ 0.58 $ 1.91 $ 1.77
NET INCOME PER SHARE - DILUTED: $ 0.6 $ 0.57 $ 1.87 $ 1.73
WEIGHTED AVERAGE SHARES OUTSTANDING:        
Basic 64,647 65,699 65,215 65,622
Diluted 66,007 67,312 66,510 67,110
Tuition and Fees, Net [Member]        
REVENUE:        
Total revenue [1] $ 210,674 $ 168,442 $ 630,897 $ 500,844
Other [Member]        
REVENUE:        
Total revenue [2] $ 1,198 $ 1,386 $ 3,560 $ 3,988
[1] Tuition and fees, net, includes revenue earned for all degree-granting programs as well as revenue earned for non-degree and professional development programs.
[2] Other revenue primarily includes contract training revenue and miscellaneous non-student related revenue.