| Financial Information by Reporting Segment |
Summary financial information by reporting segment is as follows:
| | | | | | | | | | | | | | | | | | | | | | | | |
| |
|
Three Months Ended March 31,
|
|
| |
|
Consolidated
|
|
|
Campus Operations
|
|
|
Corporate
|
|
| |
|
2026
|
|
|
2025
|
|
|
2026
|
|
|
2025
|
|
|
2026
|
|
|
2025
|
|
|
REVENUE
|
|
$ |
143,957 |
|
|
$ |
117,506 |
|
|
$ |
143,957 |
|
|
$ |
117,506 |
|
|
$ |
- |
|
|
$ |
- |
|
|
COSTS AND EXPENSES:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Instructional
|
|
|
27,624 |
|
|
|
23,015 |
|
|
|
27,624 |
|
|
|
23,015 |
|
|
|
- |
|
|
|
- |
|
|
Books and tools
|
|
|
9,830 |
|
|
|
7,709 |
|
|
|
9,830 |
|
|
|
7,709 |
|
|
|
- |
|
|
|
- |
|
|
Facilities
|
|
|
13,438 |
|
|
|
13,085 |
|
|
|
13,438 |
|
|
|
13,085 |
|
|
|
- |
|
|
|
- |
|
|
Depreciation and amortization
|
|
|
7,500 |
|
|
|
3,600 |
|
|
|
7,500 |
|
|
|
3,600 |
|
|
|
- |
|
|
|
- |
|
|
Educational services and facilities
|
|
|
58,392 |
|
|
|
47,409 |
|
|
|
58,392 |
|
|
|
47,409 |
|
|
|
- |
|
|
|
- |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales and marketing
|
|
|
23,898 |
|
|
|
19,701 |
|
|
|
23,898 |
|
|
|
19,701 |
|
|
|
- |
|
|
|
- |
|
|
Student services
|
|
|
7,356 |
|
|
|
6,237 |
|
|
|
7,356 |
|
|
|
6,237 |
|
|
|
- |
|
|
|
- |
|
|
Provision for credit losses
|
|
|
13,683 |
|
|
|
11,835 |
|
|
|
13,701 |
|
|
|
11,799 |
|
|
|
(18 |
) |
|
|
36 |
|
|
Administrative
|
|
|
34,083 |
|
|
|
28,969 |
|
|
|
12,873 |
|
|
|
10,943 |
|
|
|
21,210 |
|
|
|
18,026 |
|
|
Depreciation and amortization
|
|
|
132 |
|
|
|
162 |
|
|
|
- |
|
|
|
- |
|
|
|
132 |
|
|
|
162 |
|
|
Selling, general and administrative
|
|
|
79,152 |
|
|
|
66,904 |
|
|
|
57,828 |
|
|
|
48,680 |
|
|
|
21,324 |
|
|
|
18,224 |
|
|
Loss (gain) on sale of assets
|
|
|
6 |
|
|
|
(220 |
) |
|
|
6 |
|
|
|
(254 |
) |
|
|
- |
|
|
|
34 |
|
|
Total costs and expenses
|
|
|
137,550 |
|
|
|
114,093 |
|
|
|
116,226 |
|
|
|
95,835 |
|
|
|
21,324 |
|
|
|
18,258 |
|
|
OPERATING INCOME (LOSS)
|
|
$ |
6,407 |
|
|
$ |
3,413 |
|
|
$ |
27,731 |
|
|
$ |
21,671 |
|
|
$ |
(21,324 |
) |
|
$ |
(18,258 |
) |
|