v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
CURRENT ASSETS:    
Cash and cash equivalents $ 44,178 $ 28,519
Accounts receivable, less allowance of $41,378 and $43,975 at June 30, 2026 and December 31, 2025, respectively 45,871 36,929
Inventories 4,077 3,986
Income tax receivable 1,923 1,599
Tenant allowance receivable 5,587 8,127
Prepaid and other assets 4,613 7,872
Total current assets 106,249 87,032
PROPERTY, EQUIPMENT AND FACILITIES - At cost, net of accumulated depreciation and amortization of $160,833 and $148,067 at June 30, 2026 and December 31, 2025, respectively 190,686 171,603
OTHER ASSETS:    
Noncurrent receivables, less allowance of $26,865 and $26,371 at June 30, 2026 and December 31, 2025, respectively 21,645 21,248
Deferred finance charges 1,204 302
Deferred income taxes, net 21,668 21,668
Operating lease right-of-use assets 151,565 154,223
Finance lease right-of-use assets 24,240 25,075
Goodwill 10,742 10,742
Other assets, net 1,781 1,271
Total other assets 232,845 234,529
TOTAL ASSETS 529,780 493,164
CURRENT LIABILITIES:    
Unearned tuition 51,920 44,159
Accounts payable 30,677 27,023
Accrued expenses 16,695 18,430
Current portion of operating lease liabilities 11,127 10,634
Current portion of finance lease liabilities 534 463
Total current liabilities 110,953 100,709
NONCURRENT LIABILITIES:    
Long-term portion of operating lease liabilities 160,074 162,113
Long-term portion of finance lease liabilities 30,364 30,654
Long-term debt 26,000 0
Total liabilities 327,391 293,476
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY:    
Common stock, no par value - authorized 100,000,000 shares at June 30, 2026 and December 31, 2025, issued and outstanding 31,722,150 shares at June 30, 2026 and 31,623,795 shares at December 31, 2025 48,181 48,181
Additional paid-in capital 48,738 52,339
Retained earnings 105,470 99,168
Total stockholders’ equity 202,389 199,688
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 529,780 $ 493,164