v3.26.1
Accounts Payable and Accrued Expenses
 6 Months Ended
Jun. 30, 2026
Payables and Accruals [Abstract]  
Accounts Payable and Accrued Expenses Accounts Payable and Accrued Expenses
Accounts payable and accrued expenses consist of the following as of December 31, 2025 and June 30, 2026 (in thousands):
December 31, 2025June 30, 2026
Trade payables$55,986 $56,744 
Accrued compensation and benefits(1)
42,083 50,825 
Accrued student obligations and other7,722 9,600 
Accounts payable and accrued expenses$105,791 $117,169 
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(1)Accrued compensation and benefits as of June 30, 2026 includes a $13.9 million casual academic employee back-pay reserve related to the ANZ segment. Refer to Note 16 for additional information on the reserve.