XML 51 R40.htm IDEA: XBRL DOCUMENT
v3.25.1

Segment Reporting (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2025
Segment Reporting [Abstract] |
Schedule of Financial Information by Reportable Segment | A summary of financial information by reportable segment for the three months ended March 31, 2024 is presented in the following table (in thousands):
| U.S. Higher Education |  | Australia/New Zealand |  | Education Technology Services |  | Total
Revenues | $ | 219,236 |  |  | $ | 47,375 |  |  | $ | 23,639 |  |  | $ | 290,250 |
Segment expenses |  |  |  |  |  |  |
Direct segment expenses | 175,695 |  |  | 45,209 |  |  | 12,429 |  |  | 233,333 |
Enterprise shared services allocation | 15,528 |  |  | 4,421 |  |  | 1,122 |  |  | 21,071 |
Segment income (loss) from operations | $ | 28,013 |  |  | $ | (2,255) |  |  | $ | 10,088 |  |  | $ | 35,846 |
Unallocated expenses |  |  |  |  |  |  |
Restructuring costs |  |  |  |  |  |  | 5,510 |
Consolidated income from operations |  |  |  |  |  |  | $ | 41,356 |
Other income |  |  |  |  |  |  | 1,794 |
Consolidated income before income taxes |  |  |  |  |  |  | $ | 43,150 |
A summary of financial information by reportable segment for the three months ended March 31, 2025 is presented in the following table (in thousands):
| U.S. Higher Education |  | Australia/New Zealand |  | Education Technology Services |  | Total
Revenues | $ | 221,008 |  |  | $ | 48,260 |  |  | $ | 34,322 |  |  | $ | 303,590 |
Segment expenses |  |  |  |  |  |  |
Direct segment expenses | 175,538 |  |  | 45,251 |  |  | 18,808 |  |  | 239,597 |
Enterprise shared services allocation | 15,514 |  |  | 5,105 |  |  | 1,666 |  |  | 22,285 |
Segment income (loss) from operations | $ | 29,956 |  |  | $ | (2,096) |  |  | $ | 13,848 |  |  | $ | 41,708 |
Unallocated expenses |  |  |  |  |  |  |
Restructuring costs |  |  |  |  |  |  | (1,914) |
Consolidated income from operations |  |  |  |  |  |  | $ | 39,794 |
Other income |  |  |  |  |  |  | 2,211 |
Consolidated income before income taxes |  |  |  |  |  |  | $ | 42,005 |
The following table presents a schedule of significant non-cash items included in segment income (loss) from operations by reportable segment for the three months ended March 31, 2024 and 2025 (in thousands):
| For the three months ended March 31, |  |
| 2024 |  | 2025 |  |  |  |
Depreciation and amortization |  |  |  |  |  |  |
U.S. Higher Education | $ | 7,828 |  |  | $ | 7,625 |  |  |  |  |
Australia/New Zealand | 2,446 |  |  | 2,338 |  |  |  |  |
Education Technology Services | 795 |  |  | 1,114 |  |  |  |  |
Restructuring costs | — |  |  | 118 |  |  |  |  |
Consolidated depreciation and amortization | $ | 11,069 |  |  | $ | 11,195 |  |  |  |  |
Stock-based compensation |  |  |  |  |  |  |
U.S. Higher Education | $ | 3,910 |  |  | $ | 4,380 |  |  |  |  |
Australia/New Zealand | 894 |  |  | 355 |  |  |  |  |
Education Technology Services | 389 |  |  | 629 |  |  |  |  |
Restructuring costs | 136 |  |  | 107 |  |  |  |  |
Consolidated stock-based compensation | $ | 5,329 |  |  | $ | 5,471 |  |  |  |  |

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration