v3.22.4
Acquisitions (Tables)
 3 Months Ended
Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
The preliminary allocation of the purchase price at December 1, 2022 is summarized as follows:
Assets acquired:
Cash and cash equivalents$30,064 
Restricted cash1,689 
Accounts receivable, net10,814 
Prepaid expenses3,490 
Other current assets828 
Property and equipment26,829 
Right-of-use assets for operating leases71,912 
Goodwill10,133 
Intangible assets4,800 
Deferred tax assets3,799 
Other assets4,997 
Total assets acquired$169,355 
Less: Liabilities assumed
Accounts payable and accrued expenses$15,762 
Deferred revenue16,471 
Operating lease liability, current portion11,720 
Long-term debt, current portion (1)
630 
Other current liabilities208 
Long-term debt (1)
5,037 
Operating lease liability70,801 
Total liabilities assumed120,629 
Net assets acquired$48,726 

(1)    Long-term debt consists of one lease classified as a finance lease under ASC 842.
The final allocation of the purchase price at November 1, 2021 is summarized as follows:

Assets acquired:
Cash and cash equivalents$2,301 
Accounts receivable, net3,230 
Prepaid expenses268 
Other current assets507 
Property and equipment3,043 
Goodwill8,637 
Intangible assets16,200 
Right-of-use assets for operating leases14,979 
Other assets314 
Total assets acquired$49,479 
Less: Liabilities assumed
Accounts payable and accrued expenses$1,720 
Deferred revenue1,843 
Operating lease liability, current portion817 
Deferred tax liabilities, net1,975 
Operating lease liability14,216 
Other liabilities93 
Total liabilities assumed20,664 
Net assets acquired$28,815 
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination The table below presents a summary of the intangible assets acquired and the useful lives of these assets:
Intangible AssetUseful lifeAmount
Accreditations and regulatory approvalsIndefinite$2,800 
Trademarks and trade names10 years500 
Curriculum5 years1,500 
     Total$4,800 
The table below presents a summary of the intangible assets acquired and the useful lives of these assets:
Intangible AssetUseful lifeAmount
Accreditations and regulatory approvalsIndefinite$12,800 
Trademarks and trade names (1)
Indefinite3,000 
Curriculum5 years400 
     Total$16,200 
Schedule of Business Acquisition, Pro Forma Information
The following unaudited pro forma financial information summarizes our results of operations as though the acquisition occurred on October 1, 2022:
Three Months EndedThree Months Ended
December 31, 2022December 31, 2021
Revenue$156,025 $155,196 
Net income2,941 17,193