LRN — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-10-21

• Income tax expense. Income tax expense was $17.8 million for the three months ended September 30, 2026, or 21.6% of income before income taxes, as compared to $14.4 million, or 17.3% of income before income taxes for the same period in the prior year. The increase in the effective income tax rate fo…

• As of September 30, 2026, we had net working capital, or current assets minus current liabilities, of $1,068.8 million. Our working capital includes cash and cash equivalents of $547.8 million and accounts receivable of $854.8 million. Our working capital provides a significant source of liquidity f…

• Our cash requirements consist primarily of day-to-day operating expenses, capital expenditures and contractual obligations with respect to interest on our Notes, office facility leases, capital equipment leases and other operating leases.

• We expect to make future payments on existing leases from cash generated from operations. We believe that the combination of funds to be generated from operations and net working capital on hand will be adequate to finance our ongoing operations on a short-term (the next 12 months) and long-term (be…

Text removed vs the prior filing · source: 10-Q · 2026-04-29

• Income tax expense. Income tax expense was $31.5 million for the three months ended March 31, 2026, or 26.3% of income before income taxes, as compared to $35.5 million, or 26.3% of income before income taxes for the same period in the prior year.

• Revenues. Our revenues for the nine months ended March 31, 2026 were $1,882.0 million, an increase of $130.3 million, or 7.4%, from $1,751.7 million for the same period in the prior year. General Education revenues increased $7.4 million, or 0.7%, year over year. The primary drivers for the increase…

• Instructional costs and services expenses. Instructional costs and services expenses for the nine months ended March 31, 2026 were $1,148.7 million, an increase of $102.0 million, or 9.7%, from $1,046.7 million for the same period in the prior year. This increase in expense was due to hiring of pers…

• Selling, general, and administrative expenses. Selling, general, and administrative expenses for the nine months ended March 31, 2026 were $388.4 million, a decrease of $13.4 million, or 3.3%, from $401.8 million for the same period in the prior year. The decrease was primarily due to a decrease of …

• Interest expense, net. Net interest expense for the nine months ended March 31, 2026 was $8.9 million as compared to $7.8 million for the same period in the prior year. The increase in net interest expense was primarily due to an increase in our finance leases.

Text added vs the prior filing · source: 10-Q · 2026-10-21

• We maintain disclosure controls and procedures (as defined in Rule 13a-15(e) of the Exchange Act) that are designed to ensure that information required to be disclosed in our Exchange Act reports is recorded, processed, summarized and reported within the time periods specified in the Securities and …

• We carried out an evaluation, required by paragraph (b) of Rule 13a-15 under the Exchange Act, under the supervision and with the participation of management, including our Chief Executive Officer and Chief Financial Officer, of the effectiveness of our disclosure controls and procedures (as defined…

Text removed vs the prior filing · source: 10-Q · 2026-04-29

• We maintain disclosure controls and procedures (as defined in Rule 13a-15(e) of the Exchange Act) that are designed to ensure that information required to be disclosed in our Exchange Act reports is recorded, processed, summarized and reported within the time periods specified in the Securities and …

• that such information is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure. In designing and evaluating our disclosure controls and procedures, management recogniz…

• We carried out an evaluation, required by paragraph (b) of Rule 13a-15 under the Exchange Act, under the supervision and with the participation of management, including our Chief Executive Officer and Chief Financial Officer, of the effectiveness of our disclosure controls and procedures (as defined…

Text added vs the prior filing · source: 10-Q · 2026-10-21

• During the period covered by this Quarterly Report on Form 10-Q, no director or officer of the Company adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408 of Regulation S-K.

Text removed vs the prior filing · source: 10-Q · 2026-04-29

• On February 25, 2026, Mr. Rhyu, the Company’s Chief Executive Officer and director, adopted a Rule 10b5-1 trading arrangement that is intended to satisfy the affirmative defense of Rule 10b5-1(c) under the Exchange Act for the sale of up to 62,571 shares of the Company’s common stock until February …