As of June 30, 2024 and December 31, 2023, the Company had balances of $23.1 million and $19.8 million, respectively, of prepaid assets within prepaid expenses and other assets on the condensed consolidated balance sheets.

As of June 30, 2024 and December 31, 2023, the Company had balances of $13.8 million and $13.6 million, respectively, of deferred expenses incurred to integrate the software associated with its cloud computing arrangements, within other assets, non-current on the condensed consolidated balance sheets. Such expenses are subject to amortization over the remaining contractual term of the associated cloud computing arrangement, with a useful life of between three to five years. The Company incurred such amortization expense of $1.3 million and $1.0 million for the three months ended June 30, 2024 and 2023, respectively, and $2.4 million and $1.8 million for the six months ended June 30, 2024 and 2023, respectively.

The following table presents the components of accounts payable and accrued expenses on the Company’s condensed consolidated balance sheets as of each of the dates indicated.


	June 30, 2024		December 31, 2023

	(in thousands)
Accrued university and instructional staff compensation	$	23,769	$	28,339
Accrued marketing expenses	9,212		19,652
Accrued compensation and related benefits	6,835		9,870
Accounts payable and other accrued expenses	33,370		45,517
Total accounts payable and accrued expenses	$	73,186	$	103,378

As of June 30, 2024 and December 31, 2023, the Company had balances of $12.6 million and $10.5 million, respectively, within other current liabilities on the condensed consolidated balance sheets, which represent proceeds received from students enrolled in certain of the Company’s alternative credential offerings that are payable to an associated university client. As of June 30, 2024 and December 31, 2023, the Company had accrued interest balances of $13.5 million and $13.6 million, respectively, within other current liabilities on the condensed consolidated balance sheets.