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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 147,864 $ 23,496
Restricted cash included in funds held by trustee 3,361 0
Accounts receivable, net of allowance for doubtful accounts of $603 as of June 30, 2023 and $693 as of December 31, 2022 23,512 18,404
Contract asset, current portion (note 10) 4,572 5,159
Inventory 7,800 7,284
Prepaid expenses and deposits 20,448 17,005
Derivative instrument asset, current portion (note 4) 1,060 1,903
Deferred costs of fulfillment, current portion (note 11) 98,284 94,198
Income taxes recoverable 1,818 2,471
Total current assets 308,719 169,920
Contract asset, long-term portion (note 10) 31 2,328
Deferred costs of fulfillment, long-term portion (note 11) 15,874 16,476
Investments 2,012 2,012
Restricted cash included in secured notes reserve funds receivable 8,370 0
Deferred tax asset 5 0
Property and equipment 319,393 281,495
Right of use lease asset 21,615 20,489
Contract costs 2,184 1,827
Intangible assets (note 5) 34,692 39,790
Goodwill (note 5) 130,410 130,410
Total assets 843,305 664,747
Current liabilities:    
Accounts payable 11,955 17,171
Accrued liabilities 27,405 22,653
Customer deposits 19,448 15,783
Derivative instrument liability, current portion (note 4) 0 389
Operating lease liability, current portion (note 12) 5,087 4,642
Deferred revenue, current portion (note 10) 128,868 122,894
Accreditation fees payable, current portion 610 809
Income taxes payable 754 2,248
Other current liabilities 0 1,600
Total current liabilities 194,127 188,189
Deferred revenue, long-term portion (note 10) 22,102 22,237
Accreditation fees payable, long-term portion 0 142
Operating lease liability, long-term portion (note 12) 13,022 12,438
Syndicated revolver (note 6) 229,295 238,930
Notes payable (note 7) 221,089 0
Total Redeemable preferred shares 102,970 90,434
Deferred tax liability 9,594 15,720
Stockholders' equity (note 14)    
Common stock - no par value, 250,000,000 shares authorized; 10,853,297 shares issued and outstanding as of June 30, 2023 and 10,817,110 shares issued and outstanding as of December 31, 2022 32,945 31,868
Additional paid-in capital 11,509 8,106
Retained earnings 5,848 55,899
Accumulated other comprehensive income (note 4) 804 784
Total stockholders' equity 51,106 96,657
Total liabilities and stockholders' equity $ 843,305 $ 664,747