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Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2024

Accounting Policies [Abstract]

Schedule of Cash and Cash Equivalents

The following table illustrates the reconciliation of cash, cash equivalents, and restricted cash shown in the unaudited condensed consolidated statements of cash flows as of June 30, 2023 and 2024 (in thousands):

			As of June 30,
			2023						2024
Cash and cash equivalents			$	181,024					$	230,111
Restricted cash included in other current assets			16,558						13,481
Restricted cash included in other assets			500						500
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows			$	198,082					$	244,092

Schedule of Restrictions on Cash and Cash Equivalents

The following table illustrates the reconciliation of cash, cash equivalents, and restricted cash shown in the unaudited condensed consolidated statements of cash flows as of June 30, 2023 and 2024 (in thousands):

			As of June 30,
			2023						2024
Cash and cash equivalents			$	181,024					$	230,111
Restricted cash included in other current assets			16,558						13,481
Restricted cash included in other assets			500						500
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows			$	198,082					$	244,092

Schedule of Tuition Receivable and Allowance for Credit Losses

The Company’s current tuition receivable and allowance for credit losses were as follows as of December 31, 2023 and June 30, 2024 (in thousands):

			December 31, 2023						June 30, 2024
Tuition receivable			$	123,357					$	141,024
Allowance for credit losses			(47,255)						(51,385)
Tuition receivable, net			$	76,102					$	89,639

Schedule of Allowance for Credit Losses

The following table illustrates changes in the Company’s current and non-current allowance for credit losses for the three and six months ended June 30, 2023 and 2024 (in thousands).

			For the three months ended June 30,												For the six months ended June 30,
			2023						2024						2023						2024
Allowance for credit losses, beginning of period			$	45,708					$	47,275					$	47,586					$	47,605
Additions charged to expense			12,604						13,415						22,258						25,625
Write-offs, net of recoveries			(12,028)						(13,903)						(23,560)						(26,443)
Allowance for credit losses, end of period			$	46,284					$	46,787					$	46,284					$	46,787

Schedule of Reconciliation of Shares Used to Calculate Basic and Diluted Earnings (Loss) per Share

Set forth below is a reconciliation of shares used to calculate basic and diluted earnings per share for the three and six months ended June 30, 2023 and 2024 (in thousands):

			For the three months ended June 30,												For the six months ended June 30,
			2023						2024						2023						2024
Weighted average shares outstanding used to compute basic earnings per share			23,450						23,442						23,440						23,416
Incremental shares issuable upon the assumed exercise of stock options			4						6						5						6
Unvested restricted stock and restricted stock units			510						731						548						697
Shares used to compute diluted earnings per share			23,964						24,179						23,993						24,119
Anti-dilutive shares excluded from the diluted earnings per share calculation			272						—						190						—

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