2021 Q3 Form 10-Q Financial Statement

#000126165421000059 Filed on August 03, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2021 Q2 2020 Q2
Revenue $97.48M $83.77M $54.48M
YoY Change 27.71% 53.75% -31.07%
Cost Of Revenue $22.20M $18.90M $13.50M
YoY Change 29.81% 39.99% -32.16%
Gross Profit $75.28M $64.87M $41.00M
YoY Change 27.17% 58.22% -30.63%
Gross Profit Margin 77.23% 77.44% 75.25%
Selling, General & Admin $62.27M $38.48M $35.79M
YoY Change 17.72% 7.52% -2.39%
% of Gross Profit 82.72% 59.32% 87.28%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.557M $3.619M $2.927M
YoY Change 19.36% 23.64% -12.37%
% of Gross Profit 4.72% 5.58% 7.14%
Operating Expenses $62.50M $80.72M $68.26M
YoY Change 17.71% 18.24% -14.13%
Operating Profit $12.78M $3.052M -$13.78M
YoY Change 107.72% -122.15% 2928.35%
Interest Expense -$222.0K $130.0K $2.000K
YoY Change -211.0% 6400.0% -99.75%
% of Operating Profit -1.74% 4.26%
Other Income/Expense, Net $10.00K $34.00K $532.0K
YoY Change -90.0% -93.61% 339.67%
Pretax Income $12.57M $3.086M -$13.25M
YoY Change 93.37% -123.3% 3866.17%
Income Tax $524.0K $86.00K $21.00K
% Of Pretax Income 4.17% 2.79%
Net Earnings $12.05M $3.000M -$13.27M
YoY Change 86.74% -122.61% 3535.07%
Net Earnings / Revenue 12.36% 3.58% -24.35%
Basic Earnings Per Share $0.03 -$0.45
Diluted Earnings Per Share $351.6K $0.03 -$0.45
COMMON SHARES
Basic Shares Outstanding 32.82M shares 32.82M shares 32.61M shares
Diluted Shares Outstanding 33.04M shares 32.61M shares

Balance Sheet

Concept 2021 Q3 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $133.7M $103.1M $91.50M
YoY Change 16.38% 12.68% 114.29%
Cash & Equivalents $133.7M $102.9M $59.96M
Short-Term Investments $0.00 $250.0K $31.60M
Other Short-Term Assets $8.068M $8.395M $6.928M
YoY Change 24.33% 21.17% -6.4%
Inventory
Prepaid Expenses $6.658M $7.409M $6.955M
Receivables $17.15M $25.61M $40.36M
Other Receivables $3.673M $5.441M $5.200M
Total Short-Term Assets $183.4M $161.9M $170.2M
YoY Change 1.78% -4.88% 89.52%
LONG-TERM ASSETS
Property, Plant & Equipment $281.1M $265.1M $206.1M
YoY Change 29.31% 28.62% 93.54%
Goodwill $8.222M $8.200M $8.200M
YoY Change 0.27% 0.0% -0.27%
Intangibles $124.0K
YoY Change
Long-Term Investments $4.627M $4.594M $4.500M
YoY Change 2.96% 2.09% 4.55%
Other Assets $9.120M $9.864M $8.286M
YoY Change 6.48% 19.04% -16.96%
Total Long-Term Assets $329.2M $313.1M $251.4M
YoY Change 25.74% 24.56% 62.93%
TOTAL ASSETS
Total Short-Term Assets $183.4M $161.9M $170.2M
Total Long-Term Assets $329.2M $313.1M $251.4M
Total Assets $512.6M $475.0M $421.6M
YoY Change 15.97% 12.67% 72.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.70M $12.65M $12.31M
YoY Change 9.87% 2.74% 76.3%
Accrued Expenses $11.19M $11.06M $16.54M
YoY Change -1.57% -33.14% 41.06%
Deferred Revenue $57.65M $41.99M $32.91M
YoY Change 41.66% 27.59%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $876.0K $918.0K $100.0K
YoY Change 579.07% 818.0% -93.33%
Total Short-Term Liabilities $132.7M $120.3M $120.8M
YoY Change 9.11% -0.38% 63.28%
LONG-TERM LIABILITIES
Long-Term Debt $29.85M $30.07M $200.0K
YoY Change 22686.26% 14932.5% -99.49%
Other Long-Term Liabilities $7.570M $7.730M $7.176M
YoY Change -15.18% 7.72% -24.9%
Total Long-Term Liabilities $37.42M $37.80M $7.176M
YoY Change 313.21% 426.69% -24.9%
TOTAL LIABILITIES
Total Short-Term Liabilities $132.7M $120.3M $120.8M
Total Long-Term Liabilities $37.42M $37.80M $7.176M
Total Liabilities $324.0M $297.8M $250.6M
YoY Change 22.07% 18.84% 87.91%
SHAREHOLDERS EQUITY
Retained Earnings -$22.00M -$32.73M -$38.10M
YoY Change -33.29% -14.09% -21.97%
Common Stock $142.3M $141.8M $140.6M
YoY Change 0.93% 0.85% -25.25%
Preferred Stock $68.85M $68.85M $68.85M
YoY Change 0.0% 0.0% 0.0%
Treasury Stock (at cost) $365.0K $365.0K $365.0K
YoY Change 0.0% 0.0% -99.63%
Treasury Stock Shares 82.00K shares 82.00K shares 82.00K shares
Shareholders Equity $188.5M $177.2M $171.0M
YoY Change
Total Liabilities & Shareholders Equity $512.6M $475.0M $421.6M
YoY Change 15.97% 12.67% 72.72%

Cashflow Statement

Concept 2021 Q3 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income $12.05M $3.000M -$13.27M
YoY Change 86.74% -122.61% 3535.07%
Depreciation, Depletion And Amortization $3.557M $3.619M $2.927M
YoY Change 19.36% 23.64% -12.37%
Cash From Operating Activities $40.40M -$2.747M -$21.02M
YoY Change 91.03% -86.93% 111.68%
INVESTING ACTIVITIES
Capital Expenditures -$7.341M -$4.325M -$2.030M
YoY Change 254.64% 113.05% 290.38%
Acquisitions
YoY Change
Other Investing Activities $1.002M $19.28M $11.39M
YoY Change -115.42% 69.3% 16171.43%
Cash From Investing Activities -$6.339M $14.96M $9.360M
YoY Change -26.03% 59.81% -2180.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $49.50M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.866M 30.78M -30.00K
YoY Change 1.63% -102700.0% -91.18%
NET CHANGE
Cash From Operating Activities 40.40M -2.747M -21.02M
Cash From Investing Activities -6.339M 14.96M 9.360M
Cash From Financing Activities -2.866M 30.78M -30.00K
Net Change In Cash 31.20M 42.99M -11.69M
YoY Change 219.64% -467.76% 9.05%
FREE CASH FLOW
Cash From Operating Activities $40.40M -$2.747M -$21.02M
Capital Expenditures -$7.341M -$4.325M -$2.030M
Free Cash Flow $47.74M $1.578M -$18.99M
YoY Change 105.61% -108.31% 101.81%

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us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
3938000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
3941000 USD
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1687000 USD
CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-14577000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1402000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
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-2383000 USD
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.03
CY2020Q2 us-gaap Earnings Per Share Basic
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-0.45
us-gaap Earnings Per Share Basic
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-0.04
us-gaap Earnings Per Share Basic
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-0.08
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.03
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.45
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.04
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.08
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32821000 shares
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32607000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32746000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28871000 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33036000 shares
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32607000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32746000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
28871000 shares
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
3000000 USD
CY2020Q2 us-gaap Net Income Loss
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us-gaap Net Income Loss
NetIncomeLoss
2536000 USD
us-gaap Net Income Loss
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1558000 USD
CY2021Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
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-352000 USD
CY2020Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
0 USD
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
-352000 USD
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
0 USD
CY2021Q2 us-gaap Comprehensive Income Net Of Tax
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2648000 USD
CY2020Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-13268000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
2184000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1558000 USD
CY2019Q3 us-gaap Stockholders Equity
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114288000 USD
CY2020Q3 us-gaap Stockholders Equity
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176522000 USD
CY2020Q4 us-gaap Net Income Loss
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1083000 USD
CY2020Q4 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
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178000 USD
CY2020Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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548000 USD
CY2020Q4 us-gaap Dividends Preferred Stock Cash
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1313000 USD
CY2020Q4 us-gaap Stockholders Equity
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178306000 USD
CY2021Q1 us-gaap Net Income Loss
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-1547000 USD
CY2021Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
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223000 USD
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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1234000 USD
CY2021Q1 us-gaap Dividends Preferred Stock Cash
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1312000 USD
CY2021Q1 us-gaap Stockholders Equity
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176458000 USD
CY2021Q2 us-gaap Net Income Loss
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3000000 USD
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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-596000 USD
CY2021Q2 us-gaap Dividends Preferred Stock Cash
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1313000 USD
CY2021Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
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-352000 USD
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
177197000 USD
CY2020Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
30000 USD
CY2020Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
992000 USD
CY2020Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
49137000 USD
CY2020Q1 us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
1309000 USD
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
185056000 USD
CY2019Q4 us-gaap Net Income Loss
NetIncomeLoss
4684000 USD
CY2019Q4 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
497000 USD
CY2019Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
14000 USD
CY2019Q4 us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
1323000 USD
CY2019Q4 us-gaap Stockholders Equity
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126273000 USD
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
10142000 USD
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-13268000 USD
CY2020Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
503000 USD
CY2020Q2 us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
1309000 USD
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
170982000 USD
us-gaap Net Income Loss
NetIncomeLoss
2536000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
10470000 USD
us-gaap Net Income Loss
NetIncomeLoss
1558000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
8821000 USD
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
11856000 USD
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
18163000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1025000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1138000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1186000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1509000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
345000 USD
uti Training Equipment Credits Earned Used
TrainingEquipmentCreditsEarnedUsed
504000 USD
uti Training Equipment Credits Earned Used
TrainingEquipmentCreditsEarnedUsed
503000 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
352000 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
0 USD
us-gaap Gain Loss On Sale Of Other Assets
GainLossOnSaleOfOtherAssets
330000 USD
us-gaap Gain Loss On Sale Of Other Assets
GainLossOnSaleOfOtherAssets
-8000 USD
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
-6093000 USD
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
13917000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
4906000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1591000 USD
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
773000 USD
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-40000 USD
us-gaap Increase Decrease In Notes Receivables
IncreaseDecreaseInNotesReceivables
956000 USD
us-gaap Increase Decrease In Notes Receivables
IncreaseDecreaseInNotesReceivables
-1115000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-1693000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
12494000 USD
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
1299000 USD
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-9973000 USD
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
-2522000 USD
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
11070000 USD
uti Increase Decrease In Accrued Tool Sets And Other Current Liabilities
IncreaseDecreaseInAccruedToolSetsAndOtherCurrentLiabilities
-1122000 USD
uti Increase Decrease In Accrued Tool Sets And Other Current Liabilities
IncreaseDecreaseInAccruedToolSetsAndOtherCurrentLiabilities
-1030000 USD
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-13546000 USD
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-19264000 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-1274000 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-1026000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
14783000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-10117000 USD
us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
0 USD
us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
41562000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
37401000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
9761000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
54245000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
7190000 USD
us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
0 USD
us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
1566000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
6000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
48000 USD
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
226000 USD
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
190000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-16612000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-37187000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
31150000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
272000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
0 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
49137000 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
2625000 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
2632000 USD
uti Principal Payments On Long Term Debt And Finance Lease Liability
PrincipalPaymentsOnLongTermDebtAndFinanceLeaseLiability
162000 USD
uti Principal Payments On Long Term Debt And Finance Lease Liability
PrincipalPaymentsOnLongTermDebtAndFinanceLeaseLiability
68000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
401000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
527000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
27690000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
45910000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
25861000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-1394000 USD
CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
76803000 USD
CY2019Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
65442000 USD
CY2020Q3 us-gaap Restricted Cash
RestrictedCash
12116000 USD
CY2019Q3 us-gaap Restricted Cash
RestrictedCash
15113000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
88919000 USD
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
80555000 USD
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
102856000 USD
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
59956000 USD
CY2021Q2 us-gaap Restricted Cash
RestrictedCash
11924000 USD
CY2020Q2 us-gaap Restricted Cash
RestrictedCash
19205000 USD
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
114780000 USD
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
79161000 USD
us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
2443000 USD
us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
172000 USD
us-gaap Interest Paid Net
InterestPaidNet
133000 USD
us-gaap Interest Paid Net
InterestPaidNet
5000 USD
uti Training Equipment Obtained In Exchange For Services
TrainingEquipmentObtainedInExchangeForServices
400000 USD
uti Training Equipment Obtained In Exchange For Services
TrainingEquipmentObtainedInExchangeForServices
279000 USD
uti Depreciation Of Training Equipment Obtained In Exchange For Services
DepreciationOfTrainingEquipmentObtainedInExchangeForServices
922000 USD
uti Depreciation Of Training Equipment Obtained In Exchange For Services
DepreciationOfTrainingEquipmentObtainedInExchangeForServices
1011000 USD
uti Change In Accrued Capital Expenditures
ChangeInAccruedCapitalExpenditures
-621000 USD
uti Change In Accrued Capital Expenditures
ChangeInAccruedCapitalExpenditures
313000 USD
uti Amount Received To Offset Costs Cares Act
AmountReceivedToOffsetCostsCARESAct
11902000 USD
uti Amount Received To Offset Costs Cares Act
AmountReceivedToOffsetCostsCARESAct
16565000 USD
uti Grants Awarded Amount Cares Act
GrantsAwardedAmountCARESAct
11528000 USD
uti Grants Awarded Amount Cares Act
GrantsAwardedAmountCARESAct
11012000 USD
CY2021Q2 uti Institutional Funds Cares Act
InstitutionalFundsCARESAct
2677000 USD
CY2020Q2 uti Institutional Funds Cares Act
InstitutionalFundsCARESAct
0 USD
CY2021Q2 uti Institutional Funds In Receivables Cares Act
InstitutionalFundsInReceivablesCARESAct
0 USD
CY2020Q2 uti Institutional Funds In Receivables Cares Act
InstitutionalFundsInReceivablesCARESAct
5931000 USD
us-gaap Nature Of Operations
NatureOfOperations
Nature of the Business<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We are the leading provider of postsecondary education for students seeking careers as professional automotive, diesel, collision repair, motorcycle and marine technicians as measured by total average undergraduate full-time enrollment and graduates. We also provide programs for welders and computer numeric control (“CNC”) machining technicians. We offer certificate, diploma or degree programs at 12 campuses across the United States under the banner of several well-known brands, including Universal Technical Institute, Motorcycle Mechanics Institute, Marine Mechanics Institute and NASCAR Technical Institute. We also offer manufacturer specific advanced training (“MSAT”) programs, including student-paid electives, at our campuses and manufacturer or dealer sponsored training at certain campuses and dedicated training centers. Founded in 1965, we have provided technical education for more than 56 years and have graduated more than 225,000 technicians.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We work closely with over 35 original equipment manufacturers and industry brand partners to understand their needs for qualified service professionals. Revenues generated from our schools consist primarily of tuition and fees paid by students. To pay for a substantial portion of their tuition, the majority of students rely on funds received from federal financial aid programs under Title IV Programs of the Higher Education Act of 1965, as amended (“HEA”), as well as from various veterans benefits programs. For further discussion, see Note 2 on “Summary of Significant Accounting Policies - Concentration of Risk” and Note 20 on “Government Regulation and Financial Aid” included in our </span><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="http://www.sec.gov/Archives/edgar/data/1261654/000126165420000071/uti-20200930.htm" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">2020 Annual Report on Form 10-K</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> filed with the SEC on December 3, 2020 (the “2020 Annual Report on Form 10-K”).</span></div>During fiscal 2020, we transitioned our on-campus, in-person education model to a blended training model that combines instructor-facilitated online teaching and demonstrations with hands-on labs. This new blended learning format allowed us to continue to offer our programs to our students during the COVID-19 pandemic and aligns with an increasing trend of online education now being offered as individuals seek life-long learning opportunities. We intend to offer our Automotive, Diesel, Automotive/Diesel, Motorcycle and Marine programs in a blended learning format on a permanent basis.
CY2021Q2 uti Number Of Campuses
NumberOfCampuses
12 location
CY2021Q2 uti Number Of Graduated Technicians
NumberOfGraduatedTechnicians
225000 technician
CY2021Q2 us-gaap Accounts And Notes Receivable Net
AccountsAndNotesReceivableNet
50145000 USD
CY2020Q3 us-gaap Accounts And Notes Receivable Net
AccountsAndNotesReceivableNet
53144000 USD
CY2021Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
41993000 USD
CY2020Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
40694000 USD
CY2021Q2 uti Students Completing Catch Up Labs Percentage
StudentsCompletingCatchUpLabsPercentage
0.01
CY2020Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
49500000 USD
CY2021Q2 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
359000 USD
CY2020Q3 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
359000 USD
CY2021Q2 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
304018000 USD
CY2020Q3 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
255106000 USD
CY2021Q2 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
186528000 USD
CY2020Q3 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
182363000 USD
CY2021Q2 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
117490000 USD
CY2020Q3 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
72743000 USD
CY2021Q2 us-gaap Goodwill
Goodwill
8200000 USD
uti Lessee Operating Lease Number Of Contracts
LesseeOperatingLeaseNumberOfContracts
9 location
CY2021Q2 uti Number Of Campuses
NumberOfCampuses
12 location
CY2021Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
5547000 USD
CY2020Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
7494000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
17137000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
22478000 USD
CY2021Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
32000 USD
CY2020Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
32000 USD
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
97000 USD
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
70000 USD
CY2021Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
2000 USD
CY2020Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
2000 USD
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
5000 USD
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
5000 USD
CY2021Q2 us-gaap Variable Lease Cost
VariableLeaseCost
947000 USD
CY2020Q2 us-gaap Variable Lease Cost
VariableLeaseCost
1090000 USD
us-gaap Variable Lease Cost
VariableLeaseCost
2804000 USD
us-gaap Variable Lease Cost
VariableLeaseCost
3269000 USD
CY2021Q2 us-gaap Sublease Income
SubleaseIncome
119000 USD
CY2020Q2 us-gaap Sublease Income
SubleaseIncome
145000 USD
us-gaap Sublease Income
SubleaseIncome
365000 USD
us-gaap Sublease Income
SubleaseIncome
653000 USD
CY2021Q2 us-gaap Lease Cost
LeaseCost
6409000 USD
CY2020Q2 us-gaap Lease Cost
LeaseCost
8473000 USD
us-gaap Lease Cost
LeaseCost
19678000 USD
us-gaap Lease Cost
LeaseCost
25169000 USD
CY2021Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
147596000 USD
CY2020Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
144663000 USD
CY2021Q2 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
160000 USD
CY2020Q3 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
257000 USD
CY2021Q2 uti Lease Right Of Use Asset
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231000 USD
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0.028
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CY2021Q2 us-gaap Deferred Tax Assets Valuation Allowance
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16900000 USD
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17400000 USD
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11300000 USD
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7100000 USD
uti Income Tax Receivables Refund
IncomeTaxReceivablesRefund
2700000 USD
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4300000 USD
CY2021Q2 uti Common Stock Shareholder Number Of Votes
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CY2021Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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215000 shares
CY2020Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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0 shares
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CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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32746000 shares
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21211000 shares
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21302000 shares
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CY2021Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
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50189000 shares
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3619000 USD
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CY2021Q2 uti Depreciation Of Training Equipment Obtained In Exchange For Services
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300000 USD
uti Depreciation Of Training Equipment Obtained In Exchange For Services
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900000 USD
CY2020Q2 uti Depreciation Of Training Equipment Obtained In Exchange For Services
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300000 USD
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1000000.0 USD
CY2020Q2 uti Unusual Or Infrequent Items Or Both Amount Granted Cares Act
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33000000.0 USD
CY2020Q2 uti Institutional Funds Additional Emergency Grants Cares Act
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16500000 USD
CY2020Q2 uti Unusual Or Infrequent Items Or Both Amount Received To Offset Costs Cares Act
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16500000 USD
CY2020Q4 uti Sanitization Supplies Partitions Labor Hours And Other Related Expenses
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900000 USD
CY2020Q4 uti Sanitization Supplies Partitions Labor Hours And Other Related Expenses
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900000 USD
CY2020Q4 uti Unusual Or Infrequent Items Or Both Draws On Granted Funds Cares Act
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1800000 USD
CY2020Q4 uti Unusual Or Infrequent Items Or Both Draws On Granted Funds Cares Act
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900000 USD
CY2020Q4 uti Unusual Or Infrequent Items Or Both Draws On Granted Funds Cares Act
UnusualOrInfrequentItemsOrBothDrawsOnGrantedFundsCARESAct
2700000 USD
CY2021Q1 uti Unusual Or Infrequent Items Or Both Proceeds Received Crrsaa
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16800000 USD
CY2021Q2 uti Unusual Or Infrequent Items Or Both Amount Of Student Grants Awarded Crrsaa
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11500000 USD
CY2021Q2 uti Unusual Or Infrequent Items Or Both Number Of Students Awarded Grants Crrsaa
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7300 student
CY2021Q2 uti Unusual Or Infrequent Items Or Both Grants Amount Included In Restricted Cash
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400000 USD
uti Unusual Or Infrequent Items Or Both Amount Expected To Grant Cares Act Fiscal Year
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5300000 USD

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