v3.8.0.1
Segment and Geographic Information (Tables)
12 Months Ended
Dec. 31, 2017
Segment and Geographic Information  
Schedule of revenue, segment profitability and segment profitability margin by segment

                                                                                                                                                                                    

 

 

Year Ended December 31,

 

 

 

2017

 

2016

 

2015

 

 

 

(dollars in thousands)

 

Revenue*

 

 

 

 

 

 

 

 

 

 

Graduate program segment

 

$

270,432

 

$

205,864

 

$

150,194

 

Short course segment

 

 

16,320

 

 

 

 

 

​  

​  

​  

​  

​  

​  

Total revenue

 

$

286,752

 

$

205,864

 

$

150,194

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Segment profitability**

 

 

 

 

 

 

 

 

 

 

Graduate program segment

 

$

13,022

 

$

4,541

 

$

(6,629

)

Short course segment

 

 

(1,606

)

 

 

 

 

​  

​  

​  

​  

​  

​  

Total segment profitability

 

$

11,416

 

$

4,541

 

$

(6,629

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Segment profitability margin***

 

 

 

 

 

 

 

 

 

 

Graduate program segment

 

 

5

%

 

2

%

 

(4

)%

Short course segment

 

 

(1

)%

 

 

 

 

​  

​  

​  

​  

​  

​  

Total segment profitability margin

 

 

4

%

 

2

%

 

(4

)%

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  


 

 

 

*          

The Company did not have any material intersegment revenues for any periods presented.

**          

The Company evaluates segment profitability as net income or net loss, as applicable, before net interest income (expense), taxes, depreciation and amortization, foreign currency gains or losses, acquisition-related gains or losses and stock-based compensation expense. Some or all of these items may not be applicable in any given reporting period.

***          

The Company defines segment profitability margin as segment profitability as a percentage of segment revenue

 

Schedule of reconciliation of net loss to total segment profitability

                                                                                                                                                                                    

 

 

Year Ended December 31,

 

 

 

2017

 

2016

 

2015

 

 

 

(in thousands)

 

Net loss

 

$

(29,423

)

$

(20,684

)

$

(26,733

)

Adjustments:

 

 

 

 

 

 

 

 

 

 

Interest income

 

 

(371

)

 

(383

)

 

(167

)

Interest expense

 

 

87

 

 

35

 

 

552

 

Foreign currency loss

 

 

866

 

 

 

 

 

Depreciation and amortization expense

 

 

19,624

 

 

9,750

 

 

7,220

 

Income tax benefit

 

 

(1,297

)

 

 

 

 

Stock-based compensation expense

 

 

21,930

 

 

15,823

 

 

12,499

 

​  

​  

​  

​  

​  

​  

Total adjustments

 

 

40,839

 

 

25,225

 

 

20,104

 

​  

​  

​  

​  

​  

​  

Total segment profitability

 

$

11,416

 

$

4,541

 

$

(6,629

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

Schedule of total assets by segment

                                                                                                                                                                                    

 

 

December 31, 2017

 

December 31, 2016

 

 

 

(in thousands)

 

Total assets

 

 

 

 

 

 

 

Graduate program segment

 

$

359,597

 

$

244,320

 

Short course segment

 

 

122,465

 

 

 

​  

​  

​  

​  

Total assets

 

$

482,062

 

$

244,320

 

​  

​  

​  

​  

​  

​  

​  

​