XML 41 R30.htm IDEA: XBRL DOCUMENT v3.25.2
Revenue Recognition (Tables)
6 Months Ended
Jun. 30, 2025
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, 2024 and 2025 (in thousands):
For the three months ended June 30,For the six months ended June 30,
2024202520242025
U.S. Higher Education Segment
Tuition, net of discounts, grants and scholarships$207,571 $206,714 $417,302 $418,460 
    Other(1)
9,042 8,921 18,547 18,183 
Total U.S. Higher Education Segment216,613 215,635 435,849 436,643 
Australia/New Zealand Segment
Tuition, net of discounts, grants and scholarships69,004 67,849 114,638 114,295 
    Other(1)
2,126 1,295 3,867 3,109 
Total Australia/New Zealand Segment71,130 69,144 118,505 117,404 
Education Technology Services Segment(2)
24,523 36,692 48,162 71,014 
Consolidated revenue$312,266 $321,471 $602,516 $625,061 
_________________________________________
(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 and administrative fees.
Schedule of Learn and Earn Liability
The table below presents activity in the contract liability related to the Learn and Earn Scholarship (in thousands):
For the six months ended June 30,
20242025
Balance at beginning of period$44,480 $37,118 
Revenue deferred9,431 10,883 
Benefit redeemed(11,358)(9,603)
Balance at end of period$42,553 $38,398