2023 Q1 Form 10-Q Financial Statement

#000126165423000037 Filed on February 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2021 Q4
Revenue $163.8M $120.0M $105.1M
YoY Change 60.47% 14.21% 38.03%
Cost Of Revenue $37.45M $27.34M $23.08M
YoY Change 67.07% 18.46% 27.51%
Gross Profit $126.4M $92.66M $82.00M
YoY Change 58.62% 13.01% 41.13%
Gross Profit Margin 77.14% 77.22% 78.03%
Selling, General & Admin $70.94M $54.15M $43.60M
YoY Change 43.32% 24.2% 21.04%
% of Gross Profit 56.14% 58.44% 53.17%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.746M $5.248M $3.679M
YoY Change 73.69% 42.65% 12.1%
% of Gross Profit 5.34% 5.66% 4.49%
Operating Expenses $157.9M $115.6M $91.50M
YoY Change 59.94% 26.29% 21.43%
Operating Profit $5.949M $4.448M $13.58M
YoY Change 76.16% -67.24% 1652.0%
Interest Expense $2.637M $1.423M $233.0K
YoY Change 465.88% 510.73% 11550.0%
% of Operating Profit 44.33% 31.99% 1.72%
Other Income/Expense, Net -$706.0K -$275.0K -$103.0K
YoY Change 13.69% 166.99% -130.84%
Pretax Income $5.243M $4.173M $13.48M
YoY Change 90.24% -69.03% 1115.06%
Income Tax $1.800M $1.500M -$1.300M
% Of Pretax Income 34.33% 35.95% -9.65%
Net Earnings $3.480M $2.648M $14.82M
YoY Change -52.68% -82.13% 1268.61%
Net Earnings / Revenue 2.12% 2.21% 14.11%
Basic Earnings Per Share $0.04 $0.03 $0.25
Diluted Earnings Per Share $0.04 $0.02 $0.25
COMMON SHARES
Basic Shares Outstanding 33.97M shares 33.77M shares 32.85M shares
Diluted Shares Outstanding 34.55M shares 34.41M shares 33.57M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $120.6M $162.2M $99.51M
YoY Change 96.07% 63.02% 38.02%
Cash & Equivalents $120.6M $162.2M $99.51M
Short-Term Investments $0.00 $0.00
Other Short-Term Assets $8.742M $8.871M $8.325M
YoY Change 17.17% 6.56% 19.18%
Inventory
Prepaid Expenses $9.883M $11.42M $7.584M
Receivables $25.44M $22.25M $14.80M
Other Receivables $5.954M $5.727M $5.522M
Total Short-Term Assets $174.6M $215.0M $147.3M
YoY Change 59.5% 46.01% 12.81%
LONG-TERM ASSETS
Property, Plant & Equipment $445.5M $440.8M $310.4M
YoY Change 33.06% 41.99% 20.84%
Goodwill $28.46M $26.99M $18.00M
YoY Change 246.13% 49.96% 119.51%
Intangibles $19.32M $18.90M $16.30M
YoY Change 18.74% 15.91%
Long-Term Investments $4.665M
YoY Change 3.67%
Other Assets $8.984M $9.496M $9.369M
YoY Change 70.86% 1.36% 4.15%
Total Long-Term Assets $538.1M $533.0M $386.3M
YoY Change 31.93% 38.0% 27.05%
TOTAL ASSETS
Total Short-Term Assets $174.6M $215.0M $147.3M
Total Long-Term Assets $538.1M $533.0M $386.3M
Total Assets $712.7M $748.1M $533.5M
YoY Change 37.76% 40.21% 22.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.83M $13.04M $11.63M
YoY Change 30.4% 12.1% -3.38%
Accrued Expenses $17.03M $19.13M $12.98M
YoY Change 2.99% 47.45% 9.93%
Deferred Revenue $64.81M $75.33M $50.81M
YoY Change 54.28% 48.25% 19.23%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.319M $1.945M $884.0K
YoY Change -2.32% 120.02% 784.0%
Total Short-Term Liabilities $154.5M $169.2M $123.2M
YoY Change 30.58% 37.35% 9.52%
LONG-TERM LIABILITIES
Long-Term Debt $160.8M $161.0M $29.64M
YoY Change 249.28% 443.36% 29536.0%
Other Long-Term Liabilities $4.777M $4.816M $4.814M
YoY Change 4.16% 0.04% -56.02%
Total Long-Term Liabilities $165.6M $165.8M $34.45M
YoY Change 227.08% 381.41% 214.73%
TOTAL LIABILITIES
Total Short-Term Liabilities $154.5M $169.2M $123.2M
Total Long-Term Liabilities $165.6M $165.8M $34.45M
Total Liabilities $491.8M $530.8M $330.9M
YoY Change 60.41% 60.39% 29.13%
SHAREHOLDERS EQUITY
Retained Earnings $2.293M $64.00K -$8.497M
YoY Change -194.09% -100.75% -73.07%
Common Stock $150.9M $149.0M $142.7M
YoY Change 4.85% 4.41% 0.95%
Preferred Stock $66.48M $66.48M $68.85M
YoY Change -3.45% -3.45% 0.0%
Treasury Stock (at cost) $365.0K
YoY Change 0.0%
Treasury Stock Shares 82.00K shares
Shareholders Equity $220.9M $217.3M $202.6M
YoY Change
Total Liabilities & Shareholders Equity $712.7M $748.1M $533.5M
YoY Change 37.76% 40.21% 22.77%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2021 Q4
OPERATING ACTIVITIES
Net Income $3.480M $2.648M $14.82M
YoY Change -52.68% -82.13% 1268.61%
Depreciation, Depletion And Amortization $6.746M $5.248M $3.679M
YoY Change 73.69% 42.65% 12.1%
Cash From Operating Activities -$7.127M $2.812M $2.456M
YoY Change -189.72% 14.5% -68.44%
INVESTING ACTIVITIES
Capital Expenditures $31.86M $6.782M $10.79M
YoY Change -175.21% -37.16% -77.18%
Acquisitions $16.97M $26.14M
YoY Change -35.07%
Other Investing Activities $0.00 $12.03M -$26.07M
YoY Change -100.0% -146.14% -359.62%
Cash From Investing Activities -$31.86M $5.245M -$36.86M
YoY Change -25.24% -114.23% -1.05%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.193M $88.72M -$517.0K
YoY Change -6.25% -17260.15% 146.19%
NET CHANGE
Cash From Operating Activities -7.127M $2.812M $2.456M
Cash From Investing Activities -31.86M $5.245M -$36.86M
Cash From Financing Activities -3.193M $88.72M -$517.0K
Net Change In Cash -42.18M $96.78M -$34.92M
YoY Change 10.77% -377.13% 17.67%
FREE CASH FLOW
Cash From Operating Activities -$7.127M $2.812M $2.456M
Capital Expenditures $31.86M $6.782M $10.79M
Free Cash Flow -$38.99M -$3.970M -$8.337M
YoY Change -177.5% -52.38% -78.9%

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CY2022Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33805000 shares
CY2021Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32849000 shares
CY2022Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
34408000 shares
CY2021Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33572000 shares
CY2022Q4 us-gaap Net Income Loss
NetIncomeLoss
2648000 usd
CY2021Q4 us-gaap Net Income Loss
NetIncomeLoss
14822000 usd
CY2022Q4 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
-126000 usd
CY2021Q4 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
173000 usd
CY2022Q4 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
2522000 usd
CY2021Q4 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
14995000 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
215397000 usd
CY2022Q4 us-gaap Net Income Loss
NetIncomeLoss
2648000 usd
CY2022Q4 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
525000 usd
CY2022Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1169000 usd
CY2022Q4 us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
1277000 usd
CY2022Q4 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
-126000 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
217286000 usd
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
188530000 usd
CY2021Q4 us-gaap Net Income Loss
NetIncomeLoss
14822000 usd
CY2021Q4 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
301000 usd
CY2021Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
706000 usd
CY2021Q4 us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
1323000 usd
CY2021Q4 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
173000 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
202607000 usd
CY2022Q4 us-gaap Net Income Loss
NetIncomeLoss
2648000 usd
CY2021Q4 us-gaap Net Income Loss
NetIncomeLoss
14822000 usd
CY2022Q4 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
5248000 usd
CY2021Q4 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3679000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
4120000 usd
CY2021Q4 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
4472000 usd
CY2022Q4 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
535000 usd
CY2021Q4 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
560000 usd
CY2022Q4 us-gaap Share Based Compensation
ShareBasedCompensation
1169000 usd
CY2021Q4 us-gaap Share Based Compensation
ShareBasedCompensation
706000 usd
CY2022Q4 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
1068000 usd
CY2021Q4 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-1893000 usd
CY2022Q4 uti Training Equipment Credit Earned Used
TrainingEquipmentCreditEarnedUsed
-83000 usd
CY2021Q4 uti Training Equipment Credit Earned Used
TrainingEquipmentCreditEarnedUsed
-147000 usd
CY2022Q4 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
126000 usd
CY2021Q4 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-173000 usd
CY2022Q4 us-gaap Gain Loss On Sale Of Other Assets
GainLossOnSaleOfOtherAssets
143000 usd
CY2021Q4 us-gaap Gain Loss On Sale Of Other Assets
GainLossOnSaleOfOtherAssets
148000 usd
CY2022Q4 us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
-4657000 usd
CY2021Q4 us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
-4920000 usd
CY2022Q4 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1438000 usd
CY2021Q4 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
590000 usd
CY2022Q4 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-2079000 usd
CY2021Q4 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
29000 usd
CY2022Q4 us-gaap Increase Decrease In Notes Receivables
IncreaseDecreaseInNotesReceivables
622000 usd
CY2021Q4 us-gaap Increase Decrease In Notes Receivables
IncreaseDecreaseInNotesReceivables
1514000 usd
CY2022Q4 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-15925000 usd
CY2021Q4 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-8367000 usd
CY2022Q4 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
4634000 usd
CY2021Q4 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-8666000 usd
CY2022Q4 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-4963000 usd
CY2021Q4 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-2567000 usd
CY2022Q4 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-46000 usd
CY2021Q4 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-2955000 usd
CY2022Q4 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2812000 usd
CY2021Q4 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2456000 usd
CY2022Q4 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
16973000 usd
CY2021Q4 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
26142000 usd
CY2022Q4 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
6782000 usd
CY2021Q4 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
10792000 usd
CY2022Q4 us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
29000000 usd
CY2021Q4 us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
0 usd
CY2022Q4 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
0 usd
CY2021Q4 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
75000 usd
CY2022Q4 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
5245000 usd
CY2021Q4 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-36859000 usd
CY2022Q4 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
90000000 usd
CY2021Q4 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
0 usd
CY2022Q4 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
484000 usd
CY2021Q4 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
0 usd
CY2022Q4 uti Principal Payments On Long Term Debt And Finance Lease Liability
PrincipalPaymentsOnLongTermDebtAndFinanceLeaseLiability
273000 usd
CY2021Q4 uti Principal Payments On Long Term Debt And Finance Lease Liability
PrincipalPaymentsOnLongTermDebtAndFinanceLeaseLiability
216000 usd
CY2022Q4 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
525000 usd
CY2021Q4 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
301000 usd
CY2022Q4 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
88718000 usd
CY2021Q4 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-517000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
96775000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-34920000 usd
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
66452000 usd
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
133721000 usd
CY2022Q3 us-gaap Restricted Cash
RestrictedCash
3544000 usd
CY2021Q3 us-gaap Restricted Cash
RestrictedCash
12256000 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
69996000 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
145977000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
162229000 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
99513000 usd
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
4542000 usd
CY2021Q4 us-gaap Restricted Cash
RestrictedCash
11544000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
166771000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
111057000 usd
CY2022Q4 us-gaap Interest Paid Net
InterestPaidNet
1465000 usd
CY2021Q4 us-gaap Interest Paid Net
InterestPaidNet
223000 usd
CY2022Q4 uti Training Equipment Obtained In Exchange For Services
TrainingEquipmentObtainedInExchangeForServices
174000 usd
CY2021Q4 uti Training Equipment Obtained In Exchange For Services
TrainingEquipmentObtainedInExchangeForServices
221000 usd
CY2022Q4 uti Depreciation Of Training Equipment Obtained In Exchange For Services
DepreciationOfTrainingEquipmentObtainedInExchangeForServices
198000 usd
CY2021Q4 uti Depreciation Of Training Equipment Obtained In Exchange For Services
DepreciationOfTrainingEquipmentObtainedInExchangeForServices
238000 usd
CY2022Q4 uti Change In Accrued Capital Expenditures
ChangeInAccruedCapitalExpenditures
2837000 usd
CY2021Q4 uti Change In Accrued Capital Expenditures
ChangeInAccruedCapitalExpenditures
3651000 usd
CY2022Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
1277000 usd
CY2021Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
1323000 usd
CY2022Q4 uti Amount Received To Offset Costs Cares Act
AmountReceivedToOffsetCostsCARESAct
0 usd
CY2021Q4 uti Amount Received To Offset Costs Cares Act
AmountReceivedToOffsetCostsCARESAct
2816000 usd
CY2022Q4 uti Grants Awarded Amount Cares Act
GrantsAwardedAmountCARESAct
0 usd
CY2021Q4 uti Grants Awarded Amount Cares Act
GrantsAwardedAmountCARESAct
2900000 usd
CY2022Q4 us-gaap Nature Of Operations
NatureOfOperations
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%">Universal Technical Institute, Inc., which together with its subsidiaries is referred to as the “Company”, “we,” “us” or “our,” was founded in 1965 and is a leading workforce solutions provider of transportation, skilled trades and healthcare education programs, whose mission is to serve students, partners, and communities by providing quality education and support services for in-demand careers across a number of highly-skilled fields. We offer the majority of our programs in a blended learning model that combines instructor-facilitated online teaching and demonstrations with hands-on labs. As a result of the Concorde Career Colleges, Inc. acquisition on December 1, 2022 (the “Concorde Acquisition”), beginning with this reporting period we have two reportable segments as follows: </span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Universal Technical Institute (“UTI”):</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">UTI operates 16 campuses located in nine states and offers a wide range of degree and non-degree transportation and skilled trades technical training programs under brands such as Universal Technical Institute, Motorcycle Mechanics Institute, Marine Mechanics Institute, NASCAR Technical Institute, and MIAT College of Technology (“MIAT”). UTI also offers manufacturer specific advanced training programs, which include student-paid electives, at our campuses and manufacturer or dealer sponsored training at certain campuses and dedicated training centers. Lastly, UTI provides dealer technician training or instructor staffing services to manufacturers. UTI works closely with over 35 original equipment manufacturers and industry brand partners to understand their needs for qualified service professionals. </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concorde Career Colleges (“Concorde”):</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Concorde operates across 17 campuses in eight states, offering degree, non-degree, and continuing education programs in the allied health, dental, nursing, patient care and diagnostic fields. Concorde believes in preparing students for their health care careers with practical, hands-on experiences including opportunities to learn while providing care to real patients. Prior to graduation, students will complete a number of hours in a clinical setting or externship, depending upon their program of study. We acquired Concorde on December 1, 2022. See Note 4 on “Acquisitions” for additional information.</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%">“Corporate” includes corporate related expenses that are not allocated to the UTI or Concorde reportable segments. These costs were previously allocated across our former “Postsecondary Education” reportable segment and “Other” category based upon compensation expense. Additional information about our reportable segments is presented in Note 19. </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%">Our primary source of revenues is currently 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 of the Higher Education Act of 1965, as amended (“HEA”), as well as other federal programs. For further discussion, see Note 2 on “Summary of Significant Accounting Policies - Concentration of Risk” and Note 24 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/ix?doc=/Archives/edgar/data/1261654/000126165422000105/uti-20220930.htm" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">2022 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 12, 2022 (the “2022 Annual Report on Form 10-K”).</span></div>
CY2022Q4 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2022Q4 uti Number Of Campuses
NumberOfCampuses
16 campus
CY2022Q4 uti Number Of States
NumberOfStates
9 state
CY2022Q4 uti Number Of Manufacturer Brand Partners And Employers
NumberOfManufacturerBrandPartnersAndEmployers
35 manufacturer
CY2022Q4 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
75328000 usd
CY2022Q4 us-gaap Revenue Performance Obligation Description Of Timing
RevenuePerformanceObligationDescriptionOfTiming
The majority of the UTI programs are designed to be completed in 36 to 90 weeks while the MIAT programs are completed in 28 to 96 weeks. The UTI advanced training programs range from 12 to 23 weeks in duration. UTI also provides dealer technician training or instructor staffing services to manufacturers. Revenues are recognized as transfer of the services occurs. The majority of Concorde’s core programs are nine to ten months in duration and are billed in full at the start of the program. Clinical programs are 12 to 24 month programs that are billed by academic term. Clinical programs may have up to nine academic terms that last two to three months.
CY2022Q4 uti Contract With Customer Liability Revenue Recognition Period
ContractWithCustomerLiabilityRevenueRecognitionPeriod
P12M
CY2022Q4 us-gaap Accounts And Notes Receivable Net
AccountsAndNotesReceivableNet
56234000 usd
CY2022Q3 us-gaap Accounts And Notes Receivable Net
AccountsAndNotesReceivableNet
46826000 usd
CY2022Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
54223000 usd
CY2022Q4 us-gaap Held To Maturity Securities Current
HeldToMaturitySecuritiesCurrent
0 usd
CY2022Q4 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
2976000 usd
CY2022Q3 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
215000 usd
CY2022Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
435494000 usd
CY2022Q3 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
408717000 usd
CY2022Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
194658000 usd
CY2022Q3 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
194425000 usd
CY2022Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
240836000 usd
CY2022Q3 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
214292000 usd
CY2022Q4 us-gaap Depreciation
Depreciation
5100000 usd
CY2021Q4 us-gaap Depreciation
Depreciation
3700000 usd
CY2022Q4 us-gaap Goodwill
Goodwill
27000000 usd
CY2022Q3 us-gaap Goodwill
Goodwill
16859000 usd
CY2021Q3 us-gaap Goodwill
Goodwill
16859000 usd
CY2022Q4 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
10133000 usd
CY2022 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
0 usd
CY2022Q4 us-gaap Goodwill
Goodwill
26992000 usd
CY2022Q3 us-gaap Goodwill
Goodwill
16859000 usd
CY2022Q4 us-gaap Goodwill
Goodwill
27000000 usd
CY2022Q4 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2022Q4 us-gaap Goodwill
Goodwill
26992000 usd
CY2022Q3 us-gaap Goodwill
Goodwill
16859000 usd
CY2022Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
19442000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
547000 usd
CY2022Q4 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
18895000 usd
CY2022Q4 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P5Y2M1D
CY2021Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
16642000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
340000 usd
CY2021Q4 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
16302000 usd
CY2021Q4 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P4Y5M19D
CY2022Q4 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
120000 usd
CY2021Q4 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
20000 usd
CY2022Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
19400000 usd
CY2022Q4 uti Lessee Operating Lease Number Of Contracts
LesseeOperatingLeaseNumberOfContracts
29 campus
CY2022Q4 uti Operating Lease Number Of Leasable Campuses
OperatingLeaseNumberOfLeasableCampuses
33 campus
CY2022Q4 uti Operating Lease Number Of Corporate Office Locations Leased
OperatingLeaseNumberOfCorporateOfficeLocationsLeased
2 location
CY2022Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
5704000 usd
CY2021Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
6363000 usd
CY2022Q4 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
198000 usd
CY2021Q4 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
18000 usd
CY2022Q4 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
87000 usd
CY2021Q4 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
1000 usd
CY2022Q4 us-gaap Variable Lease Cost
VariableLeaseCost
1950000 usd
CY2021Q4 us-gaap Variable Lease Cost
VariableLeaseCost
1091000 usd
CY2022Q4 us-gaap Sublease Income
SubleaseIncome
32000 usd
CY2021Q4 us-gaap Sublease Income
SubleaseIncome
59000 usd
CY2022Q4 us-gaap Lease Cost
LeaseCost
7907000 usd
CY2021Q4 us-gaap Lease Cost
LeaseCost
7414000 usd
CY2022Q4 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
199947000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
199947000 usd
CY2022Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
132038000 usd
CY2022Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
2719000 usd
CY2022Q3 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
22000 usd
CY2022Q4 uti Lease Right Of Use Asset
LeaseRightOfUseAsset
202666000 usd
CY2022Q3 uti Lease Right Of Use Asset
LeaseRightOfUseAsset
132060000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
24206000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
24206000 usd
CY2022Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
12959000 usd
CY2022Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
642000 usd
CY2022Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
23000 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
195730000 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
195730000 usd
CY2022Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
129302000 usd
CY2022Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
4982000 usd
CY2022Q3 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
0 usd
CY2022Q4 uti Lease Liability
LeaseLiability
225560000 usd
CY2022Q3 uti Lease Liability
LeaseLiability
142284000 usd
CY2022Q4 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
300000 usd
CY2022Q3 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
200000 usd
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y5M4D
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y11M1D
CY2022Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P6Y29D
CY2022Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P0Y3M29D
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0358
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0391
CY2022Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0929
CY2022Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0308
CY2022Q4 us-gaap Operating Lease Payments
OperatingLeasePayments
4963000 usd
CY2021Q4 us-gaap Operating Lease Payments
OperatingLeasePayments
2567000 usd
CY2022Q4 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
115000 usd
CY2020Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
35000000 usd
CY2021Q4 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
18000 usd
CY2022Q4 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
117000 usd
CY2021Q4 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
7457000 usd
CY2022Q4 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
0 usd
CY2021Q4 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
0 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
21804000 usd
CY2022Q4 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
854000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
33160000 usd
CY2022Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
1159000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
31829000 usd
CY2022Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
1193000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
30763000 usd
CY2022Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
1229000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
29301000 usd
CY2022Q4 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
1266000 usd
CY2022Q4 uti Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
108252000 usd
CY2022Q4 uti Finance Lease Liability To Be Paid After Year Four
FinanceLeaseLiabilityToBePaidAfterYearFour
1743000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
255109000 usd
CY2022Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
7444000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
35173000 usd
CY2022Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
1820000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
219936000 usd
CY2022Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
5624000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
24206000 usd
CY2022Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
642000 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
195730000 usd
CY2022Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
4982000 usd
CY2022Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
13039000 usd
CY2022Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
21746000 usd
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
27453000 usd
CY2022Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
28430000 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
19134000 usd
CY2022Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
13328000 usd
CY2022Q4 uti Accrued Tool Sets
AccruedToolSets
3229000 usd
CY2022Q3 uti Accrued Tool Sets
AccruedToolSets
3176000 usd
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
62855000 usd
CY2022Q3 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
66680000 usd
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
163501000 usd
CY2022Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
68106000 usd
CY2022Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
527000 usd
CY2022Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
568000 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
162974000 usd
CY2022Q3 us-gaap Long Term Debt
LongTermDebt
67538000 usd
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
1945000 usd
CY2022Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
1115000 usd
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
161029000 usd
CY2022Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
66423000 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
1363000 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
72381000 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
2578000 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
22767000 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
2969000 usd
CY2022Q4 uti Long Term Debt Maturity After Year Four
LongTermDebtMaturityAfterYearFour
61443000 usd
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
163501000 usd
CY2022Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
527000 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
162974000 usd
CY2022Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1500000 usd
CY2022Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.365
CY2021Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1300000 usd
CY2021Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.100
CY2022Q4 uti Common Stock Shareholder Number Of Votes
CommonStockShareholderNumberOfVotes
1 vote
CY2022Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
1300000 usd
CY2022Q4 us-gaap Net Income Loss
NetIncomeLoss
2648000 usd
CY2021Q4 us-gaap Net Income Loss
NetIncomeLoss
14822000 usd
CY2022Q4 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
1277000 usd
CY2021Q4 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
1323000 usd
CY2022Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1371000 usd
CY2021Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
13499000 usd
CY2022Q4 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
514000 usd
CY2021Q4 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
5267000 usd
CY2022Q4 uti Net Income Loss Availableto Common Stockholders Basic Net
NetIncomeLossAvailabletoCommonStockholdersBasicNet
857000 usd
CY2021Q4 uti Net Income Loss Availableto Common Stockholders Basic Net
NetIncomeLossAvailabletoCommonStockholdersBasicNet
8232000 usd
CY2022Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33805000 shares
CY2021Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32849000 shares
CY2022Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.03
CY2022Q4 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2022Q4 uti Number Of Campuses
NumberOfCampuses
16 campus
CY2021Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.25
CY2022Q4 uti Net Income Loss Availableto Common Stockholders Basic Net
NetIncomeLossAvailabletoCommonStockholdersBasicNet
857000 usd
CY2021Q4 uti Net Income Loss Availableto Common Stockholders Basic Net
NetIncomeLossAvailabletoCommonStockholdersBasicNet
8232000 usd
CY2022Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33805000 shares
CY2021Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32849000 shares
CY2022Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
603000 shares
CY2021Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
723000 shares
CY2022Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
34408000 shares
CY2021Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33572000 shares
CY2022Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.02
CY2021Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.25
CY2022Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
20803000 shares
CY2021Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
21207000 shares
CY2022Q4 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
54705000 shares
CY2021Q4 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
54593000 shares
CY2022Q4 uti Number Of States
NumberOfStates
9 state
CY2022Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
120004000 usd
CY2022Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
4448000 usd
CY2022Q4 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
5248000 usd
CY2022Q4 us-gaap Net Income Loss
NetIncomeLoss
2648000 usd
CY2021Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
105075000 usd
CY2021Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
13578000 usd
CY2021Q4 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3679000 usd
CY2021Q4 us-gaap Net Income Loss
NetIncomeLoss
14822000 usd
CY2022Q4 us-gaap Assets
Assets
748073000 usd
CY2022Q3 us-gaap Assets
Assets
552911000 usd
CY2022Q4 uti Depreciation Of Training Equipment Obtained In Exchange For Services
DepreciationOfTrainingEquipmentObtainedInExchangeForServices
200000 usd

Files In Submission

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exhibit311-q12023.htm Edgar Link pending
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uti-20221231_htm.xml Edgar Link completed