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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 110,736 $ 23,496
Restricted cash included in funds held by trustee 3,138 0
Accounts receivable, net of allowance for doubtful accounts of $595 as of September 30, 2023 and $693 as of December 31, 2022 24,189 18,404
Contract asset, net current portion (note 10) 3,310 5,159
Inventory 7,788 7,284
Prepaid expenses and deposits 19,399 17,005
Derivative instrument asset, current portion (note 4) 186 1,903
Deferred costs of fulfillment, current portion (note 11) 97,072 94,198
Income taxes recoverable 456 2,471
Total current assets 266,274 169,920
Contract asset, net long-term portion (note 10) 0 2,328
Deferred costs of fulfillment, long-term portion (note 11) 15,566 16,476
Investments 2,012 2,012
Restricted cash included in secured notes reserve funds 8,543 0
Deferred tax asset 3 0
Property and equipment 330,874 281,495
Right of use lease asset 25,669 20,489
Contract costs 2,439 1,827
Intangible assets, net (note 5) 32,101 39,790
Goodwill (note 5) 130,410 130,410
Total assets 813,891 664,747
Current liabilities:    
Accounts payable 11,680 17,171
Accrued liabilities 23,096 22,653
Customer deposits 18,740 15,783
Derivative instrument liability, current portion (note 4) 0 389
Operating lease liability, current portion (note 12) 5,284 4,642
Deferred revenue, current portion (note 10) 128,101 122,894
Accreditation fees payable, current portion 637 809
Income taxes payable 837 2,248
Other current liabilities 0 1,600
Total current liabilities 188,375 188,189
Deferred revenue, long-term portion (note 10) 21,653 22,237
Accreditation fees payable, long-term portion 0 142
Operating lease liability, long-term portion (note 12) 16,659 12,438
Syndicated revolver (note 6) 221,911 238,930
Notes payable (note 7) 222,056 0
Total Redeemable preferred shares 107,069 90,434
Deferred tax liability 6,123 15,720
Stockholders' equity (note 14)    
Common stock - no par value, 250,000,000 shares authorized; 10,879,140 shares issued and outstanding as of September 30, 2023 and 10,817,110 shares issued and outstanding as of December 31, 2022 33,592 31,868
Additional paid-in capital 13,237 8,106
Retained earnings (16,924) 55,899
Accumulated other comprehensive income (note 4) 140 784
Total stockholders' equity 30,045 96,657
Total liabilities and stockholders' equity 813,891 664,747
Contingencies (note 19)