XML 51 R40.htm IDEA: XBRL DOCUMENT v3.25.2

Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2025

Segment Reporting [Abstract]

Schedule of Financial Information by Reportable Segment

A summary of financial information by reportable segment for the three months ended June 30, 2024 is presented in the following table (in thousands):

			U.S. Higher Education						Australia/New Zealand						Education Technology Services						Total
Revenues			$	216,613					$	71,130					$	24,523					$	312,266
Segment expenses
Direct segment expenses			181,988						52,449						13,476						247,913
Enterprise shared services allocation			14,800						4,621						1,013						20,434
Segment income from operations			$	19,825					$	14,060					$	10,034					$	43,919
Unallocated expenses
Restructuring costs																					(1,995)
Consolidated income from operations																					$	41,924
Other expense																					(123)
Consolidated income before income taxes																					$	41,801

A summary of financial information by reportable segment for the three months ended June 30, 2025 is presented in the following table (in thousands):

			U.S. Higher Education						Australia/New Zealand						Education Technology Services						Total
Revenues			$	215,635					$	69,144					$	36,692					$	321,471
Segment expenses
Direct segment expenses			179,840						50,873						19,949						250,662
Enterprise shared services allocation			15,036						5,515						1,715						22,266
Segment income from operations			$	20,759					$	12,756					$	15,028					$	48,543
Unallocated expenses
Restructuring costs																					(2,783)
Consolidated income from operations																					$	45,760
Other expense																					(315)
Consolidated income before income taxes																					$	45,445

A summary of financial information by reportable segment for the six months ended June 30, 2024 is presented in the following table (in thousands):

			U.S. Higher Education						Australia/New Zealand						Education Technology Services						Total
Revenues			$	435,849					$	118,505					$	48,162					$	602,516
Segment expenses
Direct segment expenses			357,683						97,658						25,905						481,246
Enterprise shared services allocation			30,328						9,042						2,135						41,505
Segment income from operations			$	47,838					$	11,805					$	20,122					$	79,765
Unallocated expenses
Restructuring costs																					3,515
Consolidated income from operations																					$	83,280
Other income																					1,671
Consolidated income before income taxes																					$	84,951

A summary of financial information by reportable segment for the six months ended June 30, 2025 is presented in the following table (in thousands):

			U.S. Higher Education						Australia/New Zealand						Education Technology Services						Total
Revenues			$	436,643					$	117,404					$	71,014					$	625,061
Segment expenses
Direct segment expenses			355,378						96,124						38,757						490,259
Enterprise shared services allocation			30,550						10,620						3,381						44,551
Segment income from operations			$	50,715					$	10,660					$	28,876					$	90,251
Unallocated expenses
Restructuring costs																					(4,697)
Consolidated income from operations																					$	85,554
Other income																					1,896
Consolidated income before income taxes																					$	87,450

The following table presents a schedule of significant non-cash items included in segment income from operations by reportable segment 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,
			2024						2025						2024						2025
Depreciation and amortization
U.S. Higher Education			$	7,798					$	7,625					$	15,626					$	15,250
Australia/New Zealand			2,563						2,486						5,009						4,824
Education Technology Services			797						1,239						1,592						2,353
Restructuring costs			—						653						—						771
Consolidated depreciation and amortization			$	11,158					$	12,003					$	22,227					$	23,198
Stock-based compensation
U.S. Higher Education			$	5,109					$	4,655					$	9,019					$	9,035
Australia/New Zealand			916						407						1,810						762
Education Technology Services			479						753						868						1,382
Restructuring costs			69						41						205						148
Consolidated stock-based compensation			$	6,573					$	5,856					$	11,902					$	11,327

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