v3.22.4
Segment Information
 3 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Segment Information Segment Information
During the three months ended December 31, 2022, we revised our reportable segments to reflect the manner in which the chief operating decision-maker evaluates performance and allocates resources. As a result of the Concorde Acquisition (as discussed in Note 4), beginning with this reporting period we have two reportable segments as follows:
UTI: UTI operates 16 campuses located in 9 states and offers a wide range of degree and non-degree transportation and skilled trades technical training programs under brands such as Universal Technical Institute, Motorcycle Mechanics Institute, Marine Mechanics Institute, NASCAR Technical Institute, and MIAT College of Technology (“MIAT”). UTI also offers manufacturer specific advanced training programs, which include student-paid electives, at our campuses and manufacturer or dealer sponsored training at certain campuses and dedicated training centers. Lastly, UTI provides dealer technician training or instructor staffing services to manufacturers.

Concorde: Concorde operates across 17 campuses in 8 states, offering degree, non-degree and continuing education programs in the allied health, dental, nursing, patient care and diagnostic fields. Concorde believes in preparing students for their health care careers with practical, hands-on experiences including opportunities to learn while providing care to real patients. Prior to graduation, students will complete a number of hours in a clinical setting or externship, depending upon their program of study.

“Corporate” includes corporate related expenses that are not allocated to the UTI or Concorde reportable segments and is included to reconcile segment results to the condensed consolidated financial statements. These costs were previously allocated across our former “Postsecondary Education” reportable segment and “Other” category based upon compensation expense. Prior periods have been updated to conform to the revised presentation.
Summary information by reportable segment is as follows:
UTIConcordeCorporateConsolidated
Three Months Ended December 31, 2022
Revenues$105,573 $14,431 $— $120,004 
Income (loss) from operations16,515 (726)(11,341)4,448 
Depreciation and amortization(1)
4,775 457 16 5,248 
Net income (loss)15,825 (734)(12,443)2,648 
Three Months Ended December 31, 2021
Revenues$105,075 $— $— $105,075 
Income (loss) from operations23,167 — (9,589)13,578 
Depreciation and amortization(1)
3,663 — 16 3,679 
Net income (loss)22,959 — (8,137)14,822 
As of December 31, 2022
Total assets$383,349 $149,668 $215,056 $748,073 
As of September 30, 2022
Total assets$436,917 $— $115,994 $552,911 

(1) Includes depreciation of training equipment obtained in exchange for services of $0.2 million for the three months ended December 31, 2022 and 2021, respectively.