2024 Q3 Form 10-Q Financial Statement

#000162828024044416 Filed on October 31, 2024

View on sec.gov

Income Statement

Concept 2024 Q3
Revenue $368.6M
YoY Change 1.96%
Cost Of Revenue $286.0M
YoY Change -1.75%
Gross Profit $82.68M
YoY Change 17.3%
Gross Profit Margin 22.43%
Selling, General & Admin $10.64M
YoY Change -9.87%
% of Gross Profit 12.86%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $16.61M
YoY Change -7.73%
% of Gross Profit 20.09%
Operating Expenses $10.63M
YoY Change -9.87%
Operating Profit $72.04M
YoY Change 22.71%
Interest Expense $11.90M
YoY Change 130.22%
% of Operating Profit 16.52%
Other Income/Expense, Net $923.0K
YoY Change 1298.48%
Pretax Income $84.86M
YoY Change 22.19%
Income Tax -$468.0K
% Of Pretax Income -0.55%
Net Earnings $85.46M
YoY Change 136.36%
Net Earnings / Revenue 23.18%
Basic Earnings Per Share $0.56
Diluted Earnings Per Share $0.56
COMMON SHARES
Basic Shares Outstanding 151.6M shares
Diluted Shares Outstanding 152.2M shares

Balance Sheet

Concept 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $134.4M
YoY Change 2.68%
Cash & Equivalents $134.4M
Short-Term Investments
Other Short-Term Assets $32.18M
YoY Change -7.53%
Inventory
Prepaid Expenses $25.31M
Receivables $87.05M
Other Receivables $7.395M
Total Short-Term Assets $261.0M
YoY Change -6.78%
LONG-TERM ASSETS
Property, Plant & Equipment $508.5M
YoY Change -6.46%
Goodwill $578.7M
YoY Change -9.63%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $41.62M
YoY Change 6.0%
Total Long-Term Assets $1.666B
YoY Change -8.32%
TOTAL ASSETS
Total Short-Term Assets $261.0M
Total Long-Term Assets $1.666B
Total Assets $1.927B
YoY Change -8.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $44.20M
YoY Change 32.63%
Accrued Expenses $68.07M
YoY Change -6.98%
Deferred Revenue $86.84M
YoY Change 7.16%
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $22.96M
YoY Change -53.25%
Total Short-Term Liabilities $411.9M
YoY Change -4.54%
LONG-TERM LIABILITIES
Long-Term Debt $129.8M
YoY Change 56.32%
Other Long-Term Liabilities $31.14M
YoY Change -11.99%
Total Long-Term Liabilities $161.0M
YoY Change 35.91%
TOTAL LIABILITIES
Total Short-Term Liabilities $411.9M
Total Long-Term Liabilities $161.0M
Total Liabilities $1.030B
YoY Change -8.99%
SHAREHOLDERS EQUITY
Retained Earnings $199.2M
YoY Change 89.78%
Common Stock $603.0K
YoY Change -4.13%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $897.7M
YoY Change
Total Liabilities & Shareholders Equity $1.927B
YoY Change -8.11%

Cashflow Statement

Concept 2024 Q3
OPERATING ACTIVITIES
Net Income $85.46M
YoY Change 136.36%
Depreciation, Depletion And Amortization $16.61M
YoY Change -7.73%
Cash From Operating Activities $118.9M
YoY Change 9.16%
INVESTING ACTIVITIES
Capital Expenditures $7.937M
YoY Change -32.74%
Acquisitions
YoY Change
Other Investing Activities $29.00K
YoY Change -71.0%
Cash From Investing Activities -$7.908M
YoY Change -32.41%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -103.5M
YoY Change 38.9%
NET CHANGE
Cash From Operating Activities 118.9M
Cash From Investing Activities -7.908M
Cash From Financing Activities -103.5M
Net Change In Cash 7.492M
YoY Change -67.0%
FREE CASH FLOW
Cash From Operating Activities $118.9M
Capital Expenditures $7.937M
Free Cash Flow $110.9M
YoY Change 14.25%

Facts In Submission

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Land
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Land
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137171000 usd
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CY2023Q4 us-gaap Construction In Progress Gross
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22673000 usd
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622254000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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562226000 usd
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Goodwill
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Goodwill
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CY2023Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
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Assets
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Assets
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ContractWithCustomerLiabilityCurrent
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AccruedIncomeTaxesNoncurrent
132267000 usd
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AccruedIncomeTaxesNoncurrent
140492000 usd
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34151000 usd
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LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationNoncurrent
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Liabilities
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CY2023Q4 us-gaap Liabilities
Liabilities
1176478000 usd
CY2024Q3 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
1398000 usd
CY2023Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
1398000 usd
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.004
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CommonStockParOrStatedValuePerShare
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CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
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CY2024Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
150685000 shares
CY2024Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
150685000 shares
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
157586000 shares
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
157586000 shares
CY2024Q3 us-gaap Common Stock Value
CommonStockValue
603000 usd
CY2023Q4 us-gaap Common Stock Value
CommonStockValue
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CY2024Q3 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
1130749000 usd
CY2023Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
1179721000 usd
CY2024Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
199212000 usd
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
41862000 usd
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AccumulatedOtherComprehensiveIncomeLossNetOfTax
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CY2023Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
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CY2024Q3 us-gaap Stockholders Equity
StockholdersEquity
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CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
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MinorityInterest
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CY2023Q4 us-gaap Minority Interest
MinorityInterest
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CY2024Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
895325000 usd
CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2024Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1927159000 usd
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LiabilitiesAndStockholdersEquity
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us-gaap Profit Loss
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us-gaap Profit Loss
ProfitLoss
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DepreciationDepletionAndAmortizationExcludingAmortizationOfDebtIssuanceCostsAndDiscounts
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us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
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us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
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us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
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us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
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laur Gain Loss On Lease Termination And Disposition Of Assets
GainLossOnLeaseTerminationAndDispositionOfAssets
-6515000 usd
laur Gain Loss On Lease Termination And Disposition Of Assets
GainLossOnLeaseTerminationAndDispositionOfAssets
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laur Non Cash Interest Expense Operating Activities
NonCashInterestExpenseOperatingActivities
1086000 usd
laur Non Cash Interest Expense Operating Activities
NonCashInterestExpenseOperatingActivities
1149000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
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us-gaap Share Based Compensation
ShareBasedCompensation
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us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
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us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
29535000 usd
us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
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us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
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us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
38625000 usd
us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
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us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
5875000 usd
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
5751000 usd
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
40078000 usd
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
41021000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
15361000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
5651000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
9845000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
1040000 usd
us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
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us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
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us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
7846000 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
19865000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
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us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
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us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
3291000 usd
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
253000 usd
us-gaap Payments For Proceeds From Businesses And Interest In Affiliates
PaymentsForProceedsFromBusinessesAndInterestInAffiliates
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us-gaap Payments For Proceeds From Businesses And Interest In Affiliates
PaymentsForProceedsFromBusinessesAndInterestInAffiliates
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
135140000 usd
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
48122000 usd
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
143556000 usd
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
167189000 usd
us-gaap Payments Of Dividends
PaymentsOfDividends
1714000 usd
us-gaap Payments Of Dividends
PaymentsOfDividends
2318000 usd
us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
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us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
123000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
204000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
3196000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1696000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
616000 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
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us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
1285000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
4005000 usd
us-gaap Net Cash Provided By Used In Discontinued Operations
NetCashProvidedByUsedInDiscontinuedOperations
229000 usd
us-gaap Net Cash Provided By Used In Discontinued Operations
NetCashProvidedByUsedInDiscontinuedOperations
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
43818000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
44665000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
96897000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
93784000 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
140715000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
138449000 usd
CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
368631000 usd
CY2024Q3 laur Revenue Components As Percent Of Total Revenue
RevenueComponentsAsPercentOfTotalRevenue
1
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
361533000 usd
CY2023Q3 laur Revenue Components As Percent Of Total Revenue
RevenueComponentsAsPercentOfTotalRevenue
1
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1143248000 usd
laur Revenue Components As Percent Of Total Revenue
RevenueComponentsAsPercentOfTotalRevenue
1
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1074855000 usd
laur Revenue Components As Percent Of Total Revenue
RevenueComponentsAsPercentOfTotalRevenue
1
CY2024Q3 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
178097000 usd
CY2023Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
173571000 usd
CY2024Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
86843000 usd
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
69351000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
57090000 usd
CY2023 laur Number Of Subsidiaries
NumberOfSubsidiaries
2 subsidiary
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 segment
CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
368631000 usd
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
361533000 usd
CY2024Q3 us-gaap Loss Contingency Estimate Of Possible Loss
LossContingencyEstimateOfPossibleLoss
23500000 usd
CY2024Q1 us-gaap Treasury Stock Retired Cost Method Amount
TreasuryStockRetiredCostMethodAmount
33222000 usd
CY2024Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2781000 usd
CY2024Q3 us-gaap Treasury Stock Retired Cost Method Amount
TreasuryStockRetiredCostMethodAmount
28578000 usd
CY2024Q3 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
80000 usd
CY2024Q3 laur Apic Share Based Payment Arrangement Equitable Adjustments
APICShareBasedPaymentArrangementEquitableAdjustments
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CY2024Q3 us-gaap Profit Loss
ProfitLoss
85327000 usd
CY2024Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
0 usd
CY2024Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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CY2024Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
895325000 usd
CY2024Q2 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
546000 shares
CY2024Q3 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
1895000 shares
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
774357000 usd
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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