Significant Accounting Policies (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Accounting Policies [Abstract] |
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| Schedule of Cash and Cash Equivalents |
The following table illustrates the reconciliation of cash, cash equivalents, and restricted cash shown in the unaudited condensed consolidated statements of cash flows as of June 30, 2025 and 2026 (in thousands): | | | | | | | | | | | | | As of June 30, | | 2025 | | 2026 | | Cash and cash equivalents | $ | 133,600 | | | $ | 123,755 | | | Restricted cash included in other current assets | 10,883 | | | 7,891 | | | Restricted cash included in other assets | 500 | | | 500 | | | Total cash, cash equivalents, and restricted cash shown in the statement of cash flows | $ | 144,983 | | | $ | 132,146 | |
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| Schedule of Restrictions on Cash and Cash Equivalents |
The following table illustrates the reconciliation of cash, cash equivalents, and restricted cash shown in the unaudited condensed consolidated statements of cash flows as of June 30, 2025 and 2026 (in thousands): | | | | | | | | | | | | | As of June 30, | | 2025 | | 2026 | | Cash and cash equivalents | $ | 133,600 | | | $ | 123,755 | | | Restricted cash included in other current assets | 10,883 | | | 7,891 | | | Restricted cash included in other assets | 500 | | | 500 | | | Total cash, cash equivalents, and restricted cash shown in the statement of cash flows | $ | 144,983 | | | $ | 132,146 | |
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| Schedule of Tuition Receivable and Allowance for Credit Losses |
The Company’s current tuition receivable and allowance for credit losses were as follows as of December 31, 2025 and June 30, 2026 (in thousands): | | | | | | | | | | | | | December 31, 2025 | | June 30, 2026 | | Tuition receivable | $ | 127,634 | | | $ | 147,136 | | | Allowance for credit losses | (49,432) | | | (46,278) | | | Tuition receivable, net | $ | 78,202 | | | $ | 100,858 | |
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| Schedule of Allowance for Credit Losses |
The following table illustrates changes in the Company’s current and non-current allowance for credit losses for the three and six months ended June 30, 2025 and 2026 (in thousands). | | | | | | | | | | | | | | | | | | | | | | | | | For the three months ended June 30, | | For the six months ended June 30, | | 2025 | | 2026 | | 2025 | | 2026 | | Allowance for credit losses, beginning of period | $ | 45,570 | | | $ | 43,920 | | | $ | 46,185 | | | $ | 45,465 | | | Additions charged to expense | 12,806 | | | 11,226 | | | 25,580 | | | 22,659 | | | Write-offs, net of recoveries | (14,051) | | | (13,096) | | | (27,440) | | | (26,074) | | | Allowance for credit losses, end of period | $ | 44,325 | | | $ | 42,050 | | | $ | 44,325 | | | $ | 42,050 | |
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| Schedule of Reconciliation of Shares used to Calculate Basic and Diluted Earnings Per Share |
Set forth below is a reconciliation of shares used to calculate basic and diluted earnings per share for the three and six months ended June 30, 2025 and 2026 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | For the three months ended June 30, | | For the six months ended June 30, | | 2025 | | 2026 | | 2025 | | 2026 | | Weighted average shares outstanding used to compute basic earnings per share | 22,906 | | | 21,381 | | | 23,113 | | | 21,501 | | | Incremental shares issuable upon the assumed exercise of stock options | 1 | | | — | | | 2 | | | — | | | Unvested restricted stock and restricted stock units | 609 | | | 355 | | | 675 | | | 453 | | | Shares used to compute diluted earnings per share | 23,516 | | | 21,736 | | | 23,790 | | | 21,954 | | | | | | | | | | | Anti-dilutive shares excluded from the diluted earnings per share calculation | 256 | | | 4 | | | 175 | | | 4 | |
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