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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 6,201 $ 9,105
Accounts receivable, net of allowance for doubtful accounts of $535 as of March 31, 2022 and $541 as of December 31, 2021 16,391 14,579
Contract asset (note 10) 3,283 778
Inventory 3,558 3,277
Prepaid expenses and deposits 23,221 20,986
Derivative instrument asset, current portion (note 5) 1,358 299
Deferred costs of fulfillment, current portion (note 11) 96,986 94,506
Income taxes recoverable 3,249 3,474
Total current assets 154,247 147,004
Deferred costs of fulfillment, long-term portion (note 11) 17,674 18,205
Derivative instrument asset, long-term portion (note 5) 459 278
Investments 2,012 2,012
Deferred tax asset 20 22
Property and equipment 191,456 172,662
Right of use operating lease asset 18,136 17,515
Contract costs 1,306 1,079
Intangible assets (note 6) 47,659 50,409
Goodwill (note 6) 130,410 130,410
Total assets 563,379 539,596
Current liabilities:    
Accounts payable 14,103 10,016
Accrued liabilities 16,351 15,240
Customer deposits 16,351 16,974
Derivative instrument liability, current portion (note 5) 0 125
Operating lease liability, current portion (note 12) 3,463 3,150
Deferred revenue, current portion (note 10) 128,413 124,116
Accreditation fees payable, current portion 882 882
Income taxes payable 307 102
Other current liabilities 2,974 3,078
Total current liabilities 182,844 173,683
Deferred revenue, long-term portion (note 10) 23,753 23,677
Accreditation fees payable, long-term portion 156 170
Operating lease liability, long-term portion (note 12) 12,220 11,853
Loan payable, long-term portion (note 7) 207,183 190,748
Other long-term liability (note 4) 0 1,804
Deferred tax liability 22,211 22,569
Stockholders' equity (note 14)    
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; 10,762,581 shares issued and outstanding as of March 31, 2022 and 10,747,417 shares issued and outstanding as of December 31, 2021 29,655 28,515
Additional paid-in capital 3,530 2,764
Retained earnings 80,450 83,470
Accumulated other comprehensive income (note 5) 1,377 343
Total stockholders' equity 115,012 115,092
Total liabilities and stockholders' equity 563,379 539,596
Contingencies (note 18)