v3.23.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities    
Net loss $ (275,159) $ (310,308)
Adjustments to reconcile net loss to net cash used in operating activities:    
Non-cash interest expense 10,488 9,929
Depreciation and amortization expense 86,846 95,070
Stock-based compensation expense 35,986 62,740
Non-cash lease expense 13,164 16,507
Restructuring charges 838 9,523
Impairment charges 134,117 138,291
Provision for credit losses 6,558 6,129
Loss on debt extinguishment 12,123 0
Other 794 4,660
Changes in operating assets and liabilities, net of assets and liabilities acquired:    
Accounts receivable, net (54,612) (36,253)
Other receivables, net (2,207) (2,867)
Prepaid expenses and other assets (1,095) 1,973
Accounts payable and accrued expenses 19,888 (12,964)
Deferred revenue 26,348 43,252
Other liabilities, net (31,597) (27,124)
Net cash used in operating activities (17,520) (1,442)
Cash flows from investing activities    
Purchase of a business, net of cash acquired 0 5,010
Additions of amortizable intangible assets (32,442) (50,155)
Purchases of property and equipment (4,335) (8,777)
Advances made to university clients 0 (310)
Advances repaid by university clients 200 200
Other 1 (17)
Net cash used in investing activities (36,576) (54,049)
Cash flows from financing activities    
Proceeds from debt 309,223 530
Payments on debt (373,914) (5,313)
Prepayment premium on extinguishment of senior secured term loan facility (5,666) 0
Payment of debt issuance costs (4,411) 0
Tax withholding payments associated with settlement of restricted stock units (957) (2,320)
Proceeds from exercise of stock options 110 1,083
Proceeds from employee stock purchase plan share purchases 2,102 1,282
Net cash used in financing activities (73,513) (4,738)
Effect of exchange rate changes on cash (1,118) (4,530)
Net decrease in cash, cash equivalents and restricted cash (128,727) (64,759)
Cash, cash equivalents and restricted cash, beginning of period 182,578 249,909
Cash, cash equivalents and restricted cash, end of period $ 53,851 $ 185,150