2022 Q1 Form 10-Q Financial Statement

#000126165422000084 Filed on May 05, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $102.1M $77.71M
YoY Change 31.37% -6.05%
Cost Of Revenue $22.42M $18.40M
YoY Change 21.84% -10.68%
Gross Profit $79.67M $59.30M
YoY Change 34.35% -4.66%
Gross Profit Margin 78.04% 76.31%
Selling, General & Admin $49.50M $38.89M
YoY Change 27.28% -3.52%
% of Gross Profit 62.13% 65.58%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.884M $3.569M
YoY Change 8.83% 23.92%
% of Gross Profit 4.88% 6.02%
Operating Expenses $98.71M $79.37M
YoY Change 24.37% -4.62%
Operating Profit $3.377M -$1.661M
YoY Change -303.31% 232.87%
Interest Expense $466.0K $1.000K
YoY Change 46500.0% -66.67%
% of Operating Profit 13.8%
Other Income/Expense, Net -$621.0K $80.00K
YoY Change -876.25% -149.08%
Pretax Income $2.756M -$1.581M
YoY Change -274.32% 138.82%
Income Tax -$4.600M -$34.00K
% Of Pretax Income -166.91%
Net Earnings $7.354M -$1.547M
YoY Change -575.37% -115.25%
Net Earnings / Revenue 7.2% -1.99%
Basic Earnings Per Share $0.11 -$0.09
Diluted Earnings Per Share $0.11 -$0.09
COMMON SHARES
Basic Shares Outstanding 32.99M shares 32.76M shares
Diluted Shares Outstanding 33.44M shares 32.76M shares

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $61.50M $78.50M
YoY Change -21.66% -33.53%
Cash & Equivalents $61.50M $58.97M
Short-Term Investments $19.50M
Other Short-Term Assets $7.461M $6.431M
YoY Change 16.02% -6.88%
Inventory
Prepaid Expenses $8.048M $8.262M
Receivables $15.47M $19.81M
Other Receivables $5.519M $5.300M
Total Short-Term Assets $109.5M $131.1M
YoY Change -16.49% -25.2%
LONG-TERM ASSETS
Property, Plant & Equipment $334.8M $262.6M
YoY Change 27.5% 24.57%
Goodwill $8.222M $8.200M
YoY Change 0.27% -0.27%
Intangibles $16.27M
YoY Change
Long-Term Investments $0.00 $4.600M
YoY Change -100.0% 4.55%
Other Assets $5.258M $9.462M
YoY Change -44.43% -0.57%
Total Long-Term Assets $407.9M $309.3M
YoY Change 31.89% 19.93%
TOTAL ASSETS
Total Short-Term Assets $109.5M $131.1M
Total Long-Term Assets $407.9M $309.3M
Total Assets $517.4M $440.3M
YoY Change 17.49% 1.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.070M $10.57M
YoY Change -14.2% 6.52%
Accrued Expenses $16.53M $11.95M
YoY Change 38.31% -7.75%
Deferred Revenue $42.01M $40.95M
YoY Change 2.58%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $2.374M $100.0K
YoY Change 2274.0%
Total Short-Term Liabilities $118.4M $114.8M
YoY Change 3.13% -0.74%
LONG-TERM LIABILITIES
Long-Term Debt $46.05M $100.0K
YoY Change 45945.0%
Other Long-Term Liabilities $4.586M $8.318M
YoY Change -44.87% 20.32%
Total Long-Term Liabilities $50.63M $8.318M
YoY Change 508.69% 20.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $118.4M $114.8M
Total Long-Term Liabilities $50.63M $8.318M
Total Liabilities $306.6M $263.9M
YoY Change 16.19% 6.38%
SHAREHOLDERS EQUITY
Retained Earnings -$2.437M -$34.42M
YoY Change -92.92% 46.32%
Common Stock $143.9M $142.4M
YoY Change 1.08% 1.64%
Preferred Stock $68.85M $68.85M
YoY Change 0.0% 0.0%
Treasury Stock (at cost) $365.0K $365.0K
YoY Change 0.0% 0.0%
Treasury Stock Shares 82.00K shares 82.00K shares
Shareholders Equity $210.7M $176.5M
YoY Change
Total Liabilities & Shareholders Equity $517.4M $440.3M
YoY Change 17.49% 1.67%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income $7.354M -$1.547M
YoY Change -575.37% -115.25%
Depreciation, Depletion And Amortization $3.884M $3.569M
YoY Change 8.83% 23.92%
Cash From Operating Activities $7.944M $9.750M
YoY Change -18.52% 157.94%
INVESTING ACTIVITIES
Capital Expenditures -$42.36M -$2.630M
YoY Change 1510.57% -21.49%
Acquisitions
YoY Change
Other Investing Activities -$258.0K $8.310M
YoY Change -103.1% -120.03%
Cash From Investing Activities -$42.62M $5.680M
YoY Change -850.28% -112.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.406M -2.880M
YoY Change 18.26% -106.2%
NET CHANGE
Cash From Operating Activities 7.944M 9.750M
Cash From Investing Activities -42.62M 5.680M
Cash From Financing Activities -3.406M -2.880M
Net Change In Cash -38.08M 12.55M
YoY Change -403.41% 132.84%
FREE CASH FLOW
Cash From Operating Activities $7.944M $9.750M
Capital Expenditures -$42.36M -$2.630M
Free Cash Flow $50.30M $12.38M
YoY Change 306.32% 73.63%

Facts In Submission

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CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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32762000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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33393000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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32709000 shares
CY2022Q1 us-gaap Net Income Loss
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CY2021Q1 us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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CY2022Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
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861000 USD
CY2021Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
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0 USD
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
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1034000 USD
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
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CY2022Q1 us-gaap Comprehensive Income Net Of Tax
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8215000 USD
CY2021Q1 us-gaap Comprehensive Income Net Of Tax
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us-gaap Comprehensive Income Net Of Tax
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us-gaap Comprehensive Income Net Of Tax
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CY2021Q3 us-gaap Stockholders Equity
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CY2021Q4 us-gaap Net Income Loss
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301000 USD
CY2021Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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706000 USD
CY2021Q4 us-gaap Dividends Preferred Stock Cash
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1323000 USD
CY2021Q4 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
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173000 USD
CY2021Q1 us-gaap Dividends Preferred Stock Cash
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1312000 USD
CY2021Q1 us-gaap Stockholders Equity
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Depreciation Depletion And Amortization
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7563000 USD
us-gaap Depreciation Depletion And Amortization
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6851000 USD
CY2021Q4 us-gaap Stockholders Equity
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CY2022Q1 us-gaap Net Income Loss
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7354000 USD
CY2022Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
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327000 USD
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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1534000 USD
CY2022Q1 us-gaap Dividends Preferred Stock Cash
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1294000 USD
CY2022Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
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861000 USD
CY2022Q1 us-gaap Stockholders Equity
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210735000 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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CY2021Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
223000 USD
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1234000 USD
us-gaap Operating Lease Right Of Use Asset Amortization Expense
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9123000 USD
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
8117000 USD
us-gaap Provision For Doubtful Accounts
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1355000 USD
us-gaap Provision For Doubtful Accounts
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415000 USD
us-gaap Share Based Compensation
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2240000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1782000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-6556000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0 USD
uti Training Equipment Credit Earned Used
TrainingEquipmentCreditEarnedUsed
-809000 USD
uti Training Equipment Credit Earned Used
TrainingEquipmentCreditEarnedUsed
155000 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-1034000 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
0 USD
us-gaap Gain Loss On Sale Of Other Assets
GainLossOnSaleOfOtherAssets
-112000 USD
us-gaap Gain Loss On Sale Of Other Assets
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135000 USD
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
-3777000 USD
us-gaap Increase Decrease In Other Receivables
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
79000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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2987000 USD
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
540000 USD
us-gaap Increase Decrease In Other Noncurrent Assets
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535000 USD
us-gaap Increase Decrease In Notes Receivables
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159000 USD
us-gaap Increase Decrease In Notes Receivables
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-134000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-17481000 USD
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
260000 USD
us-gaap Increase Decrease In Income Taxes Receivable
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0 USD
us-gaap Increase Decrease In Income Taxes Receivable
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-2685000 USD
uti Increase Decrease In Accrued Tool Sets And Other Current Liabilities
IncreaseDecreaseInAccruedToolSetsAndOtherCurrentLiabilities
-752000 USD
uti Increase Decrease In Accrued Tool Sets And Other Current Liabilities
IncreaseDecreaseInAccruedToolSetsAndOtherCurrentLiabilities
-244000 USD
us-gaap Increase Decrease In Operating Lease Liability
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-8566000 USD
us-gaap Increase Decrease In Operating Lease Liability
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us-gaap Increase Decrease In Other Operating Liabilities
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-3496000 USD
us-gaap Increase Decrease In Other Operating Liabilities
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us-gaap Net Cash Provided By Used In Operating Activities
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10400000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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17527000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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26514000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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0 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
53151000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
49919000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
2000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
6000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
0 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
18189000 USD
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
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188000 USD
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
150000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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-79475000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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-31574000 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
2617000 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
2625000 USD
uti Principal Payments On Long Term Debt And Finance Lease Liability
PrincipalPaymentsOnLongTermDebtAndFinanceLeaseLiability
678000 USD
us-gaap Income Taxes Paid
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399000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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-17137000 USD
uti Principal Payments On Long Term Debt And Finance Lease Liability
PrincipalPaymentsOnLongTermDebtAndFinanceLeaseLiability
64000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
628000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
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401000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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-3923000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
133721000 USD
CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
76803000 USD
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145977000 USD
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CashAndCashEquivalentsAtCarryingValue
61498000 USD
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
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58965000 USD
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us-gaap Interest Paid Net
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CY2021Q1 us-gaap Restricted Cash
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12817000 USD
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
72979000 USD
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71782000 USD
us-gaap Proceeds From Income Tax Refunds
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2693000 USD
us-gaap Nature Of Operations
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Nature of the Business<div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Founded in 1965, with approximately 250,000 graduates in its history, Universal Technical Institute, Inc. (“we,” “us” or “our”) is a leading provider of transportation and technical training programs. As of March 31, 2022, we offered certificate, diploma or degree programs at 14 campuses across the United States under the banner of several well-known brands, including Universal Technical Institute (“UTI”), Motorcycle Mechanics Institute and Marine Mechanics Institute (collectively, “MMI”), NASCAR Technical Institute (“NASCAR Tech”), and MIAT College of Technology (“MIAT”). Additionally, we 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.</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 21 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="https://www.sec.gov/Archives/edgar/data/1261654/000126165421000073/uti-20210930.htm" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">2021 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 2, 2021 (the “2021 Annual Report on Form 10-K”).</span></div>We offer the majority of our programs in a blended learning model that combines instructor-facilitated online teaching and demonstrations with hands-on labs. This blended learning format has 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 being offered as individuals seek more flexibility and life-long learning opportunities. On-campus labs are designed to meet or exceed the current national guidelines recommended by the Centers for Disease Control (“CDC”) as well as state and local mandates, while still meeting our accreditation and curriculum requirements.
CY2022Q1 uti Number Of Graduated Technicians
NumberOfGraduatedTechnicians
250000 graduate
us-gaap Interest Paid Net
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3000 USD
uti Training Equipment Obtained In Exchange For Services
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802000 USD
uti Training Equipment Obtained In Exchange For Services
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227000 USD
uti Depreciation Of Training Equipment Obtained In Exchange For Services
DepreciationOfTrainingEquipmentObtainedInExchangeForServices
453000 USD
uti Depreciation Of Training Equipment Obtained In Exchange For Services
DepreciationOfTrainingEquipmentObtainedInExchangeForServices
646000 USD
uti Change In Accrued Capital Expenditures
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1140000 USD
uti Change In Accrued Capital Expenditures
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1098000 USD
uti Amount Received To Offset Costs Cares Act
AmountReceivedToOffsetCostsCARESAct
4942000 USD
uti Amount Received To Offset Costs Cares Act
AmountReceivedToOffsetCostsCARESAct
0 USD
uti Grants Awarded Amount Cares Act
GrantsAwardedAmountCARESAct
5026000 USD
uti Grants Awarded Amount Cares Act
GrantsAwardedAmountCARESAct
0 USD
CY2022Q1 uti Institutional Funds Cares Act
InstitutionalFundsCARESAct
0 USD
CY2021Q1 uti Institutional Funds Cares Act
InstitutionalFundsCARESAct
880000 USD
CY2022Q1 uti Number Of Campuses
NumberOfCampuses
14 location
uti Contract With Customer Liability Revenue Recognition Period
ContractWithCustomerLiabilityRevenueRecognitionPeriod
P12M
CY2022Q1 us-gaap Accounts And Notes Receivable Net
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45601000 USD
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46489000 USD
CY2022Q1 us-gaap Contract With Customer Liability
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42010000 USD
CY2021Q3 us-gaap Contract With Customer Liability
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57648000 USD
CY2022Q1 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
215000 USD
CY2021Q3 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
215000 USD
CY2022Q1 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
383523000 USD
CY2021Q3 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
309840000 USD
CY2022Q1 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
190439000 USD
CY2021Q3 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
187789000 USD
CY2022Q1 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
193084000 USD
CY2021Q3 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
122051000 USD
CY2022Q1 us-gaap Depreciation
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3900000 USD
us-gaap Depreciation
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7500000 USD
CY2021Q1 us-gaap Depreciation
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3500000 USD
us-gaap Depreciation
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6800000 USD
CY2022Q1 us-gaap Goodwill
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16900000 USD
CY2021Q3 us-gaap Goodwill
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8222000 USD
CY2022Q1 us-gaap Goodwill
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16859000 USD
CY2022Q1 us-gaap Intangible Assets Net Including Goodwill
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16273000 USD
CY2021Q3 us-gaap Goodwill
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8222000 USD
us-gaap Goodwill Acquired During Period
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CY2021Q4 us-gaap Goodwill Acquired During Period
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0 USD
CY2021Q3 us-gaap Goodwill
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8222000 USD
CY2022Q1 us-gaap Goodwill
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16900000 USD
CY2022Q1 us-gaap Intangible Assets Gross Excluding Goodwill
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16642000 USD
CY2022Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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369000 USD
us-gaap Finite Lived Intangible Asset Useful Life
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P4Y2M23D
CY2022Q1 us-gaap Intangible Assets Gross Excluding Goodwill
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16600000 USD
us-gaap Amortization Of Intangible Assets
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51100 USD
us-gaap Amortization Of Intangible Assets
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17700 USD
us-gaap Equity Method Investment Realized Gain Loss On Disposal
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-4552000 USD
us-gaap Equity Method Investment Realized Gain Loss On Disposal
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0 USD
uti Lessee Operating Lease Number Of Contracts
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10 location
CY2022Q1 uti Number Of Campuses
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14 location
us-gaap Gain Loss On Termination Of Lease
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1600000 USD
CY2022Q1 us-gaap Gain Loss On Termination Of Lease
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1600000 USD
CY2022Q1 us-gaap Operating Lease Cost
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CY2021Q1 us-gaap Operating Lease Cost
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5458000 USD
us-gaap Operating Lease Cost
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12734000 USD
us-gaap Operating Lease Cost
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11590000 USD
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18000 USD
CY2021Q1 us-gaap Finance Lease Right Of Use Asset Amortization
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33000 USD
us-gaap Finance Lease Right Of Use Asset Amortization
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36000 USD
us-gaap Finance Lease Right Of Use Asset Amortization
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65000 USD
CY2022Q1 us-gaap Finance Lease Interest Expense
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0 USD
CY2021Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
1000 USD
us-gaap Finance Lease Interest Expense
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1000 USD
us-gaap Finance Lease Interest Expense
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3000 USD
CY2022Q1 us-gaap Variable Lease Cost
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1382000 USD
CY2021Q1 us-gaap Variable Lease Cost
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950000 USD
us-gaap Variable Lease Cost
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2473000 USD
us-gaap Variable Lease Cost
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1857000 USD
CY2022Q1 us-gaap Sublease Income
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31000 USD
CY2021Q1 us-gaap Sublease Income
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123000 USD
us-gaap Sublease Income
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90000 USD
us-gaap Sublease Income
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246000 USD
CY2022Q1 us-gaap Lease Cost
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7740000 USD
CY2021Q1 us-gaap Lease Cost
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6319000 USD
us-gaap Lease Cost
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15154000 USD
us-gaap Lease Cost
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13269000 USD
CY2022Q1 us-gaap Operating Lease Right Of Use Asset
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141736000 USD
CY2021Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
159075000 USD
CY2022Q1 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
58000 USD
CY2021Q3 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
94000 USD
CY2022Q1 uti Lease Right Of Use Asset
LeaseRightOfUseAsset
141794000 USD
CY2021Q3 uti Lease Right Of Use Asset
LeaseRightOfUseAsset
159169000 USD
CY2022Q1 us-gaap Operating Lease Liability Current
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12940000 USD
CY2021Q3 us-gaap Operating Lease Liability Current
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14075000 USD
CY2022Q1 us-gaap Finance Lease Liability Current
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60000 USD
CY2021Q3 us-gaap Finance Lease Liability Current
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73000 USD
CY2022Q1 us-gaap Operating Lease Liability Noncurrent
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137635000 USD
CY2021Q3 us-gaap Operating Lease Liability Noncurrent
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153228000 USD
CY2022Q1 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
0 USD
CY2021Q3 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
23000 USD
CY2022Q1 uti Lease Liability
LeaseLiability
150635000 USD
CY2021Q3 uti Lease Liability
LeaseLiability
167399000 USD
CY2022Q1 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
200000 USD
CY2021Q3 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
100000 USD
CY2022Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P9Y3M
CY2021Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y4M13D
CY2022Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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CY2022Q1 us-gaap Income Tax Expense Benefit
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CY2022Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
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LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
2730000 USD
CY2022Q1 uti Long Term Debt Maturity After Year Four
LongTermDebtMaturityAfterYearFour
37269000 USD
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IncomeTaxExpenseBenefit
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IncomeTaxExpenseBenefit
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0.017
CY2022Q1 uti Common Stock Shareholder Number Of Votes
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CY2020Q4 us-gaap Stock Repurchase Program Authorized Amount1
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2359000 USD
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0 USD
CY2022Q1 uti Net Income Loss Availableto Common Stockholders Basic Net
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3701000 USD
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11937000 USD
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32992000 shares
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32762000 shares
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0.11
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CY2022Q1 uti Net Income Loss Availableto Common Stockholders Basic Net
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3701000 USD
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11937000 USD
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CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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32920000 shares
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CY2022Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
444000 shares
CY2021Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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473000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33436000 shares
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32762000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33393000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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32709000 shares
CY2022Q1 us-gaap Earnings Per Share Diluted
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0.36
us-gaap Earnings Per Share Diluted
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CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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21465000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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21698000 shares
CY2022Q1 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
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54457000 shares
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us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
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CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2022Q1 us-gaap Operating Income Loss
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CY2022Q1 us-gaap Assets
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517353000 USD
CY2021Q3 us-gaap Assets
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512570000 USD
CY2022Q1 uti Depreciation Of Training Equipment Obtained In Exchange For Services
DepreciationOfTrainingEquipmentObtainedInExchangeForServices
300000 USD
CY2021Q1 uti Depreciation Of Training Equipment Obtained In Exchange For Services
DepreciationOfTrainingEquipmentObtainedInExchangeForServices
300000 USD
uti Depreciation Of Training Equipment Obtained In Exchange For Services
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500000 USD
uti Depreciation Of Training Equipment Obtained In Exchange For Services
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600000 USD
CY2021 uti Unusual Or Infrequent Items Or Both Proceeds Received Crrsaa
UnusualOrInfrequentItemsOrBothProceedsReceivedCRRSAA
16800000 USD
CY2021 uti Unusual Or Infrequent Items Or Both Proceeds Received Arpa
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9900000 USD
CY2022Q1 uti Unusual Or Infrequent Items Or Both Amount Of Student Grants Awarded Crrsaa
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5000000 USD
CY2022Q1 us-gaap Grants Receivable
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1900000 USD
CY2020Q4 uti Sanitization Supplies Partitions Labor Hours And Other Related Expenses
SanitizationSuppliesPartitionsLaborHoursAndOtherRelatedExpenses
900000 USD
CY2022Q1 uti Unusual Or Infrequent Items Or Both Awards Granted
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4100 student
CY2022Q1 uti Unusual Or Infrequent Items Or Both Grants Amount Included In Restricted Cash
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600000 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
UnusualOrInfrequentItemsOrBothDrawsOnGrantedFundsCARESAct
900000 USD

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