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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 11,773 $ 23,496
Accounts receivable, net of allowance for doubtful accounts of $625 as of March 31, 2023 and $693 as of December 31, 2022 24,173 18,404
Contract asset, current portion (note 9) 5,172 5,159
Inventory 6,539 7,284
Prepaid expenses and deposits 18,331 17,005
Derivative instrument asset, current portion (note 4) 1,249 1,903
Deferred costs of fulfillment, current portion (note 10) 98,258 94,198
Income taxes recoverable 2,206 2,471
Total current assets 167,701 169,920
Contract asset, long-term portion (note 9) 124 2,328
Deferred costs of fulfillment, long-term portion (note 10) 16,372 16,476
Investments 2,012 2,012
Deferred tax asset 8 0
Property and equipment 303,791 281,495
Right of use operating lease asset 22,191 20,489
Contract costs 1,976 1,827
Intangible assets (note 5) 37,084 39,790
Goodwill (note 5) 130,410 130,410
Total assets 681,669 664,747
Current liabilities:    
Accounts payable 16,639 17,171
Accrued liabilities 22,032 22,653
Customer deposits 16,126 15,783
Derivative instrument liability, current portion (note 4) 129 389
Operating lease liability, current portion (note 11) 5,040 4,642
Deferred revenue, current portion (note 9) 128,977 122,894
Accreditation fees payable, current portion 662 809
Income taxes payable 2,515 2,248
Other current liabilities 0 1,600
Total current liabilities 192,120 188,189
Deferred revenue, long-term portion (note 9) 22,457 22,237
Accreditation fees payable, long-term portion 0 142
Operating lease liability, long-term portion (note 11) 13,660 12,438
Loan payable, long-term portion (note 6) 236,025 238,930
Total Redeemable Preferred Shares 124,804 90,434
Deferred tax liability 12,951 15,720
Stockholders' equity (note 13)    
Common stock - no par value, 250,000,000 shares authorized; 10,831,435 shares issued and outstanding as of March 31, 2023 and 10,817,110 shares issued and outstanding as of December 31, 2022 32,461 31,868
Additional paid-in capital 9,759 8,106
Retained earnings 36,816 55,899
Accumulated other comprehensive income (note 4) 616 784
Total stockholders' equity 79,652 96,657
Total liabilities and stockholders' equity 681,669 664,747
Contingencies (note 18)