XML 40 R29.htm IDEA: XBRL DOCUMENT v3.25.2
Significant Accounting Policies (Tables)
 6 Months Ended
Jun. 30, 2025
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, 2024 and 2025 (in thousands):
As of June 30,
20242025
Cash and cash equivalents$230,111 $133,600 
Restricted cash included in other current assets13,481 10,883 
Restricted cash included in other assets500 500 
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows$244,092 $144,983 
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, 2024 and 2025 (in thousands):
As of June 30,
20242025
Cash and cash equivalents$230,111 $133,600 
Restricted cash included in other current assets13,481 10,883 
Restricted cash included in other assets500 500 
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows$244,092 $144,983 
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, 2024 and June 30, 2025 (in thousands):
December 31, 2024June 30, 2025
Tuition receivable$127,012 $146,249 
Allowance for credit losses(50,885)(48,371)
Tuition receivable, net$76,127 $97,878 
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, 2024 and 2025 (in thousands).
For the three months ended June 30,For the six months ended June 30,
2024202520242025
Allowance for credit losses, beginning of period$47,275 $45,570 $47,605 $46,185 
Additions charged to expense13,415 12,806 25,625 25,580 
Write-offs, net of recoveries(13,903)(14,051)(26,443)(27,440)
Allowance for credit losses, end of period$46,787 $44,325 $46,787 $44,325 
Schedule of Reconciliation of Shares Used to Calculate Basic and Diluted Earnings 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, 2024 and 2025 (in thousands):
For the three months ended June 30,For the six months ended June 30,
2024202520242025
Weighted average shares outstanding used to compute basic earnings per share23,442 22,906 23,416 23,113 
Incremental shares issuable upon the assumed exercise of stock options6 1 6 2 
Unvested restricted stock and restricted stock units731 609 697 675 
Shares used to compute diluted earnings per share24,179 23,516 24,119 23,790 
Anti-dilutive shares excluded from the diluted earnings per share calculation— 256 — 175