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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 8,311 $ 20,393
Accounts receivable, net of allowance for doubtful accounts of $222 as of December 31, 2020 and $131 as of December 31, 2019 15,540 14,564
Inventory 1,875 3,457
Prepaid expenses and deposits 16,845 13,478
Derivative instrument asset, current portion (note 7) 3,860 731
Deferred costs of fulfillment, current portion (note 11 (b)) 93,467 91,252
Income taxes recoverable 1,302 1,800
Total current assets 141,200 145,675
Deferred costs of fulfillment, long-term portion (note 11 (b)) 17,599 17,915
Property and equipment (note 4) 117,530 82,121
Right of use operating lease asset 11,238 11,335
Deferred costs of acquisition (note 11 (a)) 362 1,400
Deferred tax asset (note 9) 226 0
Intangible assets (note 5) 47,444 57,654
Goodwill (note 5) 116,304 109,818
Total assets 451,903 425,918
Current liabilities:    
Accounts payable 6,329 6,671
Accrued liabilities 10,235 9,373
Customer deposits 15,402 14,074
Derivative instrument liability, current portion (note 7) 99 0
Operating lease liability, current portion (note 12) 1,761 1,413
Deferred revenue, current portion (note 10) 127,336 123,101
Accreditation fees payable, current portion 940 952
Income taxes payable 863 1,324
Total current liabilities 162,965 156,908
Derivative instrument liability, long-term portion (note 7) 114 0
Deferred revenue, long-term portion (note 10) 24,909 26,202
Accreditation fees payable, long-term portion 195 216
Operating lease liability, long-term portion (note 12) 9,179 9,424
Loan payable, long-term portion (note 8) 121,733 113,503
Other long-term liability (note 3 (c)) 3,416 0
Deferred tax liability (note 9) 24,694 25,471
Stockholders' equity (note 13)    
Preferred stock - no par value, 1,250,000 shares authorized; none issued and outstanding 0 0
Common stock - no par value, 250,000,000 shares authorized; 10,612,414 shares issued and outstanding as of December 31, 2020 and 10,585,159 shares issued and outstanding as of December 31, 2019 20,798 16,633
Additional paid-in capital 1,458 880
Retained earnings 80,106 76,208
Accumulated other comprehensive income (loss) (note 7) 2,336 473
Total stockholders' equity 104,698 94,194
Total liabilities and stockholders' equity 451,903 425,918
Commitments and contingencies (note 18)