Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2020 |
Jun. 30, 2019 |
Jun. 30, 2020 |
Jun. 30, 2019 |
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| Income Statement [Abstract] | ||||
| Revenue | $ 182,687 | $ 135,461 | $ 358,166 | $ 257,695 |
| Costs and expenses | ||||
| Curriculum and teaching | 26,256 | 13,308 | 46,734 | 20,009 |
| Servicing and support | 30,294 | 23,993 | 60,827 | 44,167 |
| Technology and content development | 37,307 | 26,043 | 72,817 | 45,837 |
| Marketing and sales | 98,341 | 89,749 | 197,556 | 166,710 |
| General and administrative | 39,554 | 28,408 | 83,207 | 51,431 |
| Total costs and expenses | 231,752 | 181,501 | 461,141 | 328,154 |
| Loss from operations | (49,065) | (46,040) | (102,975) | (70,459) |
| Interest income | 154 | 1,814 | 667 | 4,163 |
| Interest expense | (6,518) | (2,424) | (12,011) | (2,479) |
| Loss on debt extinguishment | (11,671) | 0 | (11,671) | 0 |
| Other income (expense), net | 570 | (13) | (1,701) | (383) |
| Loss before income taxes | (66,530) | (46,663) | (127,691) | (69,158) |
| Income tax benefit | 363 | 18,691 | 1,418 | 19,632 |
| Net loss | $ (66,167) | $ (27,972) | $ (126,273) | $ (49,526) |
| Net loss per share, basic and diluted (in dollars per share) | $ (1.03) | $ (0.46) | $ (1.98) | $ (0.83) |
| Weighted-average shares of common stock outstanding, basic and diluted (in shares) | 64,075,405 | 60,516,662 | 63,850,869 | 59,334,246 |
| Other comprehensive loss | ||||
| Foreign currency translation adjustments, net of tax of $0 for all periods presented | $ 1,404 | $ 2,243 | $ (14,711) | $ 1,871 |
| Comprehensive loss | $ (64,763) | $ (25,729) | $ (140,984) | $ (47,655) |
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- Definition Represents cost of service for curriculum and teaching related costs. No definition available.
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- Definition Represents the amount of servicing and support costs consisting primarily of compensation costs related to program management and operations, as well as costs for platform technical support and faculty and student support. No definition available.
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- Definition Represents cost of service for Technology and content development related costs. No definition available.
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- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Total costs of sales and operating expenses for the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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| X | ||||||||||
- Definition The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount after tax and reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature, attributable to parent entity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition The net amount of other operating income and expenses, the components of which are not separately disclosed on the income statement, from items that are associated with the entity's normal revenue producing operations. No definition available.
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- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate total amount of expenses directly related to the marketing or selling of products or services. No definition available.
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- Definition Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS). No definition available.
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