v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 3,499 $ (896)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 7,637 5,501
Finance lease amortization 835 787
Amortization of deferred finance charges 90 57
Deferred income taxes 547 421
(Gain) loss on sale of assets (476) 913
Fixed asset donations (197) (178)
Provision for credit losses 25,012 25,537
Stock-based compensation expense 2,548 2,104
(Increase) decrease in assets:    
Accounts receivable (30,797) (32,977)
Inventories (1,451) 603
Prepaid income taxes (2,794) (5,220)
Prepaid expenses and current assets (3,611) 1,154
Other assets, net (657) 806
Increase (decrease) in liabilities:    
Accounts payable (9,768) (472)
Accrued expenses 3,452 (2,069)
Unearned tuition (2,548) (2,578)
Income taxes payable (1,072) 0
Other liabilities 1,672 (92)
Total adjustments (11,578) (5,703)
Net cash used in operating activities (8,079) (6,599)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital expenditures (46,276) (12,725)
Proceeds from sale of property and equipment 504 9,718
Net cash used in investing activities (45,772) (3,007)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from borrowings 25,000 0
Payments on borrowings (12,000) 0
Payment of deferred finance fees (121) (456)
Finance lease principal paid (179) (64)
Tenant allowance finance leases 2,212 0
Net share settlement for equity-based compensation (3,633) (3,156)
Net cash provided by (used in) financing activities 11,279 (3,676)
NET DECREASE IN CASH AND CASH EQUIVALENTS (42,572) (13,282)
CASH AND CASH EQUIVALENTS -Beginning of period 59,273 80,269
CASH AND CASH EQUIVALENTS-End of period 16,701 66,987
Cash paid for:    
Interest 1,391 1,063
Income taxes 4,721 4,221
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES:    
Liabilities accrued for or noncash additions of fixed assets $ 14,023 $ 2,041