XML 42 R30.htm IDEA: XBRL DOCUMENT v3.24.2
Revenue Recognition (Tables)
6 Months Ended
Jun. 30, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue from Contracts with Customers
The following table presents the Company’s revenues from contracts with customers disaggregated by material revenue category 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,
2023202420232024
U.S. Higher Education Segment
Tuition, net of discounts, grants and scholarships$194,362 $207,571 $382,875 $417,302 
    Other(1)
8,317 9,042 16,699 18,547 
Total U.S. Higher Education Segment202,679 216,613 399,574 435,849 
Australia/New Zealand Segment
Tuition, net of discounts, grants and scholarships63,766 69,004 104,188 114,638 
    Other(1)
1,706 2,126 2,787 3,867 
Total Australia/New Zealand Segment65,472 71,130 106,975 118,505 
Education Technology Services Segment(2)
19,529 24,523 37,737 48,162 
Consolidated revenue$287,680 $312,266 $544,286 $602,516 
_________________________________________
(1)Other revenue is primarily comprised of academic fees, sales of course materials, placement fees and other non-tuition revenue streams.
(2)Education Technology Services revenue is primarily derived from tuition revenue.
Schedule of Graduation Fund Liability
The table below presents activity in the contract liability related to the Graduation Fund (in thousands):
For the six months ended June 30,
20232024
Balance at beginning of period$46,842 $44,480 
Revenue deferred9,875 9,431 
Benefit redeemed(11,391)(11,358)
Balance at end of period$45,326 $42,553