v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
CURRENT ASSETS:    
Cash and cash equivalents $ 16,690 $ 28,519
Accounts receivable, less allowance of $44,971 and $43,975 at March 31, 2026 and December 31, 2025, respectively 41,734 36,929
Inventories 2,488 3,986
Income tax receivable 501 1,599
Tenant allowance receivable 8,127 8,127
Prepaid and other assets 6,863 7,872
Total current assets 76,403 87,032
PROPERTY, EQUIPMENT AND FACILITIES - At cost, net of accumulated depreciation and amortization of $154,578 and $148,067 at March 31, 2026 and December 31, 2025, respectively 179,352 171,603
OTHER ASSETS:    
Noncurrent receivables, less allowance of $25,706 and $26,371 at March 31, 2026 and December 31, 2025, respectively 20,711 21,248
Deferred finance charges 267 302
Deferred income taxes, net 21,668 21,668
Operating lease right-of-use assets 151,209 154,223
Finance lease right-of-use assets 24,657 25,075
Goodwill 10,742 10,742
Other assets, net 1,725 1,271
Total other assets 230,979 234,529
TOTAL ASSETS 486,734 493,164
CURRENT LIABILITIES:    
Unearned tuition 39,287 44,159
Accounts payable 28,253 27,023
Accrued expenses 13,816 18,430
Current portion of operating lease liabilities 10,445 10,634
Current portion of finance lease liabilities 498 463
Total current liabilities 92,299 100,709
NONCURRENT LIABILITIES:    
Long-term portion of operating lease liabilities 160,089 162,113
Long-term portion of finance lease liabilities 30,518 30,654
Long-term debt 5,000 0
Total liabilities 287,906 293,476
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY:    
Common stock, no par value - authorized 100,000,000 shares at March 31, 2026 and December 31, 2025, issued and outstanding 31,696,582 shares at March 31, 2026 and 31,623,795 shares at December 31, 2025 48,181 48,181
Additional paid-in capital 47,123 52,339
Retained earnings 103,524 99,168
Total stockholders’ equity 198,828 199,688
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 486,734 $ 493,164