v3.26.1
Segment Information
 9 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Information
Note 16 - Segment Information
We operate our business in two reportable segments: (i) the UTI segment; and (ii) the Concorde segment. Each reportable segment represents a group of post-secondary education providers that offer a variety of degree and non-degree academic programs. “Corporate” includes corporate related expenses that are not allocated to the UTI or Concorde reportable segments and is included to reconcile segment results to the consolidated financial statements.
These segments are organized by key market segments to enhance operational alignment to more effectively execute our
strategic plan. Our reportable segments reflect the manner in which Jerome Grant, our Chief Executive Officer and the chief
operating decision-maker (“CODM”), evaluates performance and allocates resources. The CODM evaluates segment performance based on operating results. When making decisions to allocate resources, the CODM analyzes segment revenue and operating expenses which are directly attributable to the costs to serve and educate students. The CODM uses revenue
and income from operations for each segment in the budgeting and forecasting processes. As previously discussed in Note 2, the segment disclosures for the three and nine months ended June 30, 2025 have been recast from the prior year presentation for comparability to the current year presentation.
Summary information by reportable segment is as follows:
UTIConcordeCorporateConsolidated
Three Months Ended June 30, 2026
Revenues$138,015 $80,892 $— $218,907 
Compensation and benefits58,274 36,699 19,898 114,871 
Advertising16,243 9,696 208 26,147 
Occupancy10,882 6,655 976 18,513 
Student related12,326 5,494 — 17,820 
General operations6,157 4,605 5,634 16,396 
Depreciation and amortization7,284 2,751 375 10,410 
Professional and contract services2,318 1,297 4,258 7,873 
Other expenses(1)
1,969 711 952 3,632 
Corporate support(2)
16,748 9,813 (26,561)— 
Total operating expenses132,201 77,721 5,740 215,662 
Income (loss) from operations5,814 3,171 (5,740)3,245 
Net income (loss)$5,020 $3,130 $(5,871)$2,279 
Three Months Ended June 30, 2025
Revenues$131,462 $72,836 $— $204,298 
Compensation and benefits51,230 34,122 17,423 102,775 
Advertising15,008 7,534 153 22,695 
Occupancy9,920 6,494 233 16,647 
Student related7,671 6,122 — 13,793 
General operations5,532 5,123 3,146 13,801 
Depreciation and amortization6,048 1,939 328 8,315 
Professional and contract services2,360 1,264 4,590 8,214 
Other expenses(1)
1,648 1,182 1,076 3,906 
Corporate support(2)
14,320 7,933 (22,253)— 
Total operating expenses113,737 71,713 4,696 190,146 
Income (loss) from operations17,725 1,123 (4,696)14,152 
Net income (loss)$16,439 $1,084 $(6,860)$10,663 
UTIConcordeCorporateConsolidated
Nine Months Ended June 30, 2026
Revenues$423,577 $237,576 $— $661,153 
Compensation and benefits169,703 109,649 58,410 337,762 
Advertising53,213 28,988 607 82,808 
Occupancy32,035 19,255 2,866 54,156 
Student related34,648 16,588 — 51,236 
General operations21,818 13,534 16,283 51,635 
Depreciation and amortization20,326 6,991 1,044 28,361 
Professional and contract services7,516 3,857 13,212 24,585 
Other expenses(1)
5,862 2,345 3,132 11,339 
Corporate support(2)
52,611 29,608 (82,219)— 
Total operating expenses397,732 230,815 13,335 641,882 
Income (loss) from operations25,845 6,761 (13,335)19,271 
Net income (loss)$23,420 $6,683 $(14,564)$15,539 
Nine Months Ended June 30, 2025
Revenues$397,168 $216,006 $— $613,174 
Compensation and benefits153,120 98,130 49,575 300,825 
Advertising44,536 22,791 551 67,878 
Occupancy28,245 18,206 674 47,125 
Student related26,511 17,010 — 43,521 
General operations14,479 12,985 8,322 35,786 
Depreciation and amortization17,947 5,499 1,006 24,452 
Professional and contract services7,330 3,868 13,457 24,655 
Other expenses(1)
4,860 2,777 2,812 10,449 
Corporate support(2)
42,153 23,035 (65,188)— 
Total operating expenses339,181 204,301 11,209 554,691 
Income (loss) from operations57,987 11,705 (11,209)58,483 
Net income (loss)$54,315 $11,591 $(21,644)$44,262 
As of June 30, 2026
Total assets$527,873 $169,894 $200,095 $897,862 
As of September 30, 2025
Total assets$490,637 $140,448 $195,054 $826,139 
(1)     Other expenses include employee-related travel and entertainment expenses.
(2)     Corporate support primarily includes costs for information technology, human resources, accounting and finance support services.