7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 2017-12-31 2017-09-30 2017-06-30 2017-03-31 2016-12-31 2016-09-30 2016-06-30 2016-03-31 2015-12-31 2015-09-30 2015-06-30 2015-03-31 2014-12-31 2014-09-30 2014-06-30 2014-03-31 
      
    		                                               
      cash flows from operating activities
    		                                               
      net income
    		-17,471,000 -35,663,000 -17,484,000 -6,125,000 -212,639,000 -616,884,000 -1,420,000 9,665,000 -18,283,000 24,612,000 2,186,000 1,858,000 251,562,000 7,476,000 5,742,000 24,306,000 6,651,000 32,764,000 -65,179,000 26,043,000 -37,140,000 10,589,000 -5,713,000 8,219,000 -11,477,000 -2,029,000 -4,318,000 5,347,000 -13,709,000 -3,909,000 -2,617,000 3,659,000 -11,516,000 -6,025,000 -6,401,000 -1,489,000 -16,063,000 -9,008,000 -15,685,000 3,630,000 -24,167,000 -10,131,000 -28,542,000 1,688,000 -32,441,000 -8,246,000 -25,759,000 
      adjustments to reconcile net income to net cash from operating activities:
    		                                               
      share-based compensation expense
    		5,925,000 7,912,000 11,257,000 15,347,000 21,931,000 18,047,000 29,289,000 31,906,000 31,930,000 35,920,000 33,746,000 35,115,000 34,170,000 31,087,000 33,084,000 32,689,000 24,512,000 28,545,000 23,100,000 24,646,000 21,529,000 19,546,000 18,334,000 17,554,000 16,865,000 15,452,000 15,038,000 14,527,000 13,818,000 12,043,000 11,642,000 10,891,000 10,091,000 9,099,000 8,278,000 9,084,000 10,210,000 11,221,000 11,270,000 6,991,000 8,933,000 7,831,000 15,020,000     
      depreciation and amortization expense
    		15,321,000 16,226,000 32,094,000 19,378,000 19,573,000 19,706,000 19,687,000                 8,878,000 7,435,000 7,149,000 6,785,000 6,174,000 5,966,000 5,448,000 5,217,000                 
      deferred tax assets
    		170,000 134,000 15,000                                             
      operating lease expense, net of accretion
    		864,000 930,000 1,089,000        1,496,000 1,581,000 1,504,000 1,602,000 1,640,000 1,467,000 1,463,000 1,475,000 1,589,000 1,501,000 1,215,000 1,132,000 1,053,000 1,101,000 1,116,000 1,119,000 1,049,000                     
      amortization of debt issuance costs
    		41,000 41,000 377,000 519,000 547,000 540,000 541,000 546,000 622,000 931,000 1,057,000  1,305,000 1,397,000 1,382,000                                 
      income from write-offs of property and equipment
    		235,000 -1,729,000 2,287,000                                             
      gain on early extinguishment of debt
    		0 0 -7,360,000      -32,149,000                                       
      realized gain on sale of investments
    		0 0 -752,000                                             
      impairment expense
    		0   0 195,708,000                                           
      impairment of lease related assets
    		0                                               
      impairment of strategic equity investment
    		0                                               
      loss contingency
    		        0                                       
      other non-cash items
    		724,000 353,000 -28,000 434,000 140,000 113,000 -31,000 -839,000 694,000 -1,078,000 -5,000 -241,000 452,000 904,000 -737,000 -1,471,000 200,000 211,000 87,000 -33,000 104,000 -188,000 -1,000  -255,000 -71,000 -44,000  -64,000 156,000 -41,000  117,000 -9,000 -46,000  124,000 -41,000 23,000         
      change in assets and liabilities:
    		                                               
      accounts receivable
    		2,478,000 10,807,000 -4,693,000 -248,000 -2,542,000 3,856,000 6,705,000 -891,000 -9,989,000 1,503,000 1,578,000 -1,493,000 -5,486,000 2,935,000 292,000 -8,597,000 131,000 1,222,000 2,240,000 -506,000 -3,855,000 -968,000 4,929,000 2,679,000 -7,794,000 2,920,000 4,024,000 -3,947,000 -200,000 -174,000 2,783,000 -961,000 -1,203,000 42,000 1,947,000 -439,000 -2,295,000 446,000 2,161,000 1,111,000 -515,000 -2,318,000 2,434,000 1,924,000 -1,422,000 16,000 -2,227,000 
      prepaid expenses and other current assets
    		8,763,000 -6,821,000 5,880,000 13,993,000 -43,552,000 -15,756,000 3,583,000 2,918,000 -14,524,000 6,597,000 8,485,000 3,940,000 -15,517,000 7,046,000 21,722,000 9,216,000 -16,355,000 10,360,000 -25,075,000 11,597,000 -4,366,000 7,895,000 -9,707,000 7,811,000 -7,799,000 -1,420,000 -11,522,000 19,329,000 -17,477,000 1,121,000 -7,894,000 17,843,000 -13,365,000 10,313,000 -1,241,000 14,751,000 6,196,000 5,908,000 -16,816,000 4,625,000 -15,098,000 -11,807,000 -5,598,000 5,375,000 -6,582,000 128,000 -1,902,000 
      other assets
    		395,000 410,000 518,000 1,599,000 304,000 497,000 -1,270,000 2,158,000 3,201,000 2,667,000 2,803,000 -1,363,000 2,868,000 4,716,000 8,342,000 6,915,000 2,252,000 6,162,000 1,058,000 -1,576,000 -1,926,000 713,000 -1,425,000 -3,483,000 -345,000 3,500,000 -1,166,000 635,000 -87,000 6,000 -506,000 654,000 -122,000 402,000 -287,000 1,153,000 682,000 -656,000 258,000 -388,000 49,000 -300,000 47,000 -8,000 323,000 -229,000 -241,000 
      accounts payable
    		1,061,000 -7,573,000 1,535,000 -4,068,000 3,737,000 -5,456,000 -6,589,000 8,237,000 5,491,000 -335,000 -336,000 -2,416,000 3,518,000 2,288,000 -7,534,000 1,421,000 4,959,000 -9,736,000 6,597,000 2,753,000 -1,060,000 -138,000 -436,000 1,588,000 1,434,000 -3,581,000 -1,836,000 3,894,000 -1,289,000 1,356,000 -3,068,000 4,940,000 1,300,000 -2,452,000 -1,139,000 -3,441,000 1,697,000 2,625,000 -1,609,000 -6,213,000 8,127,000 -1,212,000 -4,938,000 5,356,000 -3,307,000 3,774,000 -786,000 
      deferred revenue
    		-2,250,000 -11,382,000 5,437,000 -4,122,000 -1,537,000 -9,067,000 -1,159,000 -4,124,000 6,173,000 -5,646,000 2,012,000 -3,896,000 7,178,000 -4,298,000 8,554,000 -14,840,000 15,301,000 -13,926,000 15,988,000 -19,321,000 24,122,000 -8,856,000 16,973,000 -11,721,000 8,636,000 -7,455,000 8,858,000 -7,863,000 11,571,000 -4,915,000 5,185,000 -8,466,000 9,449,000 -5,649,000 3,270,000 -15,168,000 15,546,000 -12,448,000 11,798,000 -31,110,000 26,329,000 -25,217,000 20,378,000 -47,871,000 48,287,000 -28,071,000 29,312,000 
      accrued liabilities
    		-2,188,000 3,781,000 -4,894,000 254,000 50,906,000 -4,697,000 640,000 -1,193,000 991,000 -4,571,000 -2,569,000 3,212,000 -2,289,000 -13,479,000 -7,555,000 -5,353,000 6,355,000 -5,189,000 9,386,000 -11,832,000 16,887,000 1,417,000 15,972,000 -18,301,000 15,698,000 2,181,000 216,000 -12,206,000 18,722,000 1,608,000 -4,286,000 -10,793,000 11,699,000 4,924,000 -3,743,000 -15,496,000 12,939,000 9,818,000 -16,760,000 -5,073,000 15,884,000 2,696,000 -8,270,000 2,622,000 7,629,000 -1,705,000 -1,098,000 
      other liabilities
    		-1,755,000 -770,000 -752,000 -4,817,000 -88,000 -1,300,000 -1,580,000 -1,527,000 -1,605,000 -1,808,000 -6,397,000 -528,000 -2,275,000 -874,000 -2,091,000 -1,499,000 -1,831,000 -1,080,000 -1,197,000 -1,863,000 -1,142,000 296,000 -1,242,000 -618,000 1,274,000 -919,000 -3,148,000 950,000 335,000 1,116,000 138,000 -1,108,000 265,000 598,000 260,000 281,000 101,000 -28,000 -165,000 -152,000 -583,000 447,000 -58,000 -886,000 116,000 -199,000 71,000 
      net cash from operating activities
    		4,813,000 -4,840,000 24,526,000 18,128,000 39,532,000 14,227,000 53,318,000 77,484,000 32,807,000 62,747,000 73,160,000 74,020,000 37,961,000 63,720,000 80,035,000 65,101,000 63,622,000 70,928,000 73,573,000 67,787,000 46,450,000 59,238,000 62,967,000 26,828,000 38,729,000 29,905,000 17,941,000 30,446,000 21,152,000 16,962,000 6,553,000 21,701,000 13,291,000 15,321,000 835,000 -5,788,000 37,849,000 12,110,000 -19,233,000 -18,196,000 31,173,000 -19,750,000 6,691,000 473,000 45,404,000 -6,544,000 29,142,000 
      capex
    		-5,756,000 -7,230,000 -8,665,000 -13,294,000 -15,842,000 -17,800,000 -28,017,000 -25,754,000 -23,434,000 -16,698,000 -17,166,000 -23,850,000 -21,956,000 -27,753,000 -29,533,000 -27,054,000 -20,531,000 -27,611,000 -18,984,000 -23,860,000 -14,346,000 -23,146,000 -19,965,000 -10,806,000 -8,029,000 -9,431,000 -14,060,000 -13,175,000 -7,961,000 -5,204,000 -4,883,000 -6,212,000 -7,423,000 -7,737,000 -4,770,000 -6,855,000 -3,617,000 -9,417,000 -4,800,000 -2,369,000 -1,738,000 -2,660,000 -1,486,000 -1,276,000 -1,311,000 -1,211,000 -1,285,000 
      free cash flows
    		-943,000 -12,070,000 15,861,000 4,834,000 23,690,000 -3,573,000 25,301,000 51,730,000 9,373,000 46,049,000 55,994,000 50,170,000 16,005,000 35,967,000 50,502,000 38,047,000 43,091,000 43,317,000 54,589,000 43,927,000 32,104,000 36,092,000 43,002,000 16,022,000 30,700,000 20,474,000 3,881,000 17,271,000 13,191,000 11,758,000 1,670,000 15,489,000 5,868,000 7,584,000 -3,935,000 -12,643,000 34,232,000 2,693,000 -24,033,000 -20,565,000 29,435,000 -22,410,000 5,205,000 -803,000 44,093,000 -7,755,000 27,857,000 
      cash flows from investing activities
    		                                               
      purchases of property and equipment
    		-5,756,000 -7,230,000 -8,665,000 -13,294,000 -15,842,000 -17,800,000 -28,017,000 -25,754,000 -23,434,000 -16,698,000 -17,166,000 -23,850,000 -21,956,000 -27,753,000 -29,533,000 -27,054,000 -20,531,000 -27,611,000 -18,984,000 -23,860,000 -14,346,000 -23,146,000 -19,965,000 -10,806,000 -8,029,000 -9,431,000 -14,060,000 -13,175,000 -7,961,000 -5,204,000 -4,883,000 -6,212,000 -7,423,000 -7,737,000 -4,770,000 -6,855,000 -3,617,000 -9,417,000 -4,800,000 -2,369,000 -1,738,000 -2,660,000 -1,486,000 -1,276,000 -1,311,000 -1,211,000 -1,285,000 
      purchases of investments
    		0 0 -793,000 -36,737,000 -10,544,000 -44,641,000 -79,028,000 -52,664,000 -32,866,000 -55,037,000 -497,372,000 -196,501,000 -177,455,000 -83,273,000 -273,280,000 -114,324,000 -589,454,000 -58,858,000 -925,748,000 -77,458,000 -691,073,000 -164,612,000 -112,421,000 -137,042,000 -295,506,000                       
      maturities of investments
    		3,414,000 4,496,000 103,214,000 74,764,000 7,017,000 39,159,000 50,731,000 36,000,000 84,335,000 69,103,000 407,759,000 101,028,000 261,446,000 180,407,000 342,059,000 311,472,000 437,779,000 274,221,000 181,315,000 127,843,000 140,335,000 149,927,000 121,784,000 133,956,000 104,639,000                       
      proceeds from sale of investments
    		0 0 181,158,000     155,852,000 0               0                        
      proceeds from sale of strategic equity investment
    		    0 0 15,500,000           236,000 6,845,000                             
      net cash from investing activities
    		-2,342,000 -2,734,000 274,914,000 94,810,000 -19,369,000 -23,282,000 -40,814,000 113,434,000 25,786,000 236,232,000 -106,779,000 342,666,000 56,044,000 69,253,000 -363,072,000 376,769,000 -167,753,000 190,168,000 -764,952,000 18,156,000 -572,460,000 -131,220,000 -47,262,000 -93,041,000 -145,635,000 -477,922,000 13,173,000  -26,915,000 -23,415,000 4,236,000 -25,329,000 -105,341,000 -7,549,000 1,985,000 -6,364,000 3,498,000 -3,136,000 39,000 3,806,000 14,630,000 2,587,000 -12,752,000 2,557,000 -23,073,000 -3,633,000 -63,201,000 
      cash flows from financing activities
    		                                               
      repayment of convertible senior notes
    		0 0 -416,492,000     0 -136,225,000   0    -7,000 -4,000 -110,902,000 -189,849,000 -144,290,000                            
      payment of taxes related to the net share settlement of equity awards
    		-605,000 -568,000 -469,000 -591,000 -823,000 -3,531,000 -4,294,000 -2,583,000 -2,789,000 -3,332,000 -7,736,000 -13,773,000 -2,555,000 -2,754,000 -7,467,000 -5,084,000 -14,697,000 -15,466,000 -59,176,000 -15,456,000 -11,120,000 -7,268,000 -46,836,000 -3,495,000 -8,825,000 -6,207,000 -76,044,000 -3,420,000 -5,355,000 -4,674,000 -35,640,000                 
      proceeds from common stock issued under stock plans
    		1,000   445,000 1,000   1,057,000 27,000 2,936,000 145,000 1,919,000 0 4,102,000 456,000 3,514,000 106,000 4,920,000 347,000 6,247,000                            
      net cash from financing activities
    		-604,000 -177,000 -416,961,000 -102,685,000 -822,000 -1,341,000 -4,294,000 -149,964,000 -138,987,000 -404,917,000 -158,902,000 -11,854,000 -426,836,000 1,348,000 -307,461,000 -301,577,000 -22,045,000 -77,256,000 867,600,000 -133,818,000 768,510,000 -1,896,000 -44,169,000 3,882,000 1,690,000 89,455,000 508,482,000 2,233,000 75,000 284,528,000 -30,418,000 7,858,000 148,191,000 -11,980,000 -9,855,000 -732,000 -813,000 -799,000 -6,331,000 478,000 51,000 2,222,000 -28,000 -99,000 72,000 1,520,000 -3,365,000 
      effect of exchange rate changes
    		-651,000 273,000 218,000 -876,000 156,000 -79,000 -226,000 400,000 -576,000 10,000 187,000 -491,000 0 0 4,628,000                                 
      net increase in cash, cash equivalents and restricted cash
    		  -117,303,000    7,984,000     404,341,000 -332,831,000 134,321,000 -585,870,000 140,293,000 -126,176,000 183,840,000 176,221,000 -47,875,000 242,500,000 -73,878,000 -28,464,000 -62,331,000 -105,216,000 -358,562,000 539,596,000 -3,776,000 -5,688,000                   
      cash, cash equivalents and restricted cash, beginning of period
    		0 0 164,359,000 0 0 0 137,976,000 0 0 0 475,854,000 0 0 0 855,893,000 0 0 0 481,715,000 0 0 0 389,432,000 0 0 0 375,945,000 0 0 0 126,963,000                 
      cash, cash equivalents and restricted cash, end of period
    		1,216,000 -7,478,000 47,056,000 9,377,000 19,497,000 -10,475,000 145,960,000 41,354,000 -80,970,000 -105,928,000 283,520,000 404,341,000 -332,831,000 134,321,000 270,023,000 140,293,000 -126,176,000 183,840,000 657,936,000 -47,875,000 242,500,000 -73,878,000 360,968,000 -62,331,000 -105,216,000 -358,562,000 915,541,000 -3,776,000 -5,688,000 278,075,000 107,334,000                 
      net decrease in cash, cash equivalents and restricted cash
    		        -80,970,000 -105,928,000 -192,334,000                    -19,629,000                 
      (gain)/loss on early extinguishments of debt
    		                                               
      loss contingency accrual
    		                                               
      realized loss on sale of investments
    		                                               
      gain on textbook library
    		               2,191,000 4,535,000 202,000 4,028,000 575,000 -657,000 -196,000 -1,175,000                         
      print textbook depreciation expense
    		           0 0 89,000 1,521,000 1,835,000 2,443,000 2,821,000 3,760,000 4,698,000 3,637,000 3,535,000 3,527,000                         
      gain on foreign currency remeasurement of purchase consideration
    		           0 0 0 -4,628,000                                 
      impairment on lease related assets
    		   3,368,000 0       1,814,000 0                                   
      change in assets and liabilities, net of effect of acquisition of business:
    		                                               
      purchases of textbooks
    		           0 0 -123,000 -3,692,000 -265,000 -5,648,000 -491,000 -4,527,000 -8,926,000 -10,973,000 -1,838,000 -36,830,000             -91,000 -244,000 -109,000 -442,000 -71,000 -951,000 -2,133,000 -29,142,000 -13,345,000 -46,688,000 -9,818,000 -42,963,000 
      proceeds from disposition of textbooks
    		       0 0   3,500,000 9,000 -5,000 2,499,000 899,000 1,106,000 2,671,000 4,038,000 557,000 3,597,000 1,245,000 2,170,000                         
      proceeds from sale of strategic equity investments
    		               0                                
      acquisition of business, net of cash acquired
    		                  -7,891,000  0                -700,000           
      purchases of strategic equity investments
    		                                               
      proceeds from exercise of convertible senior notes capped call
    		       0 0       0 1,000 44,192,000 24,812,000 19,681,000                            
      payment of withholding tax
    		                                               
      repurchase of common stock
    		                       0 0 0 -20,000,000 0 0           0 0 0 -2,263,000     
      net increase in cash, cash equivalents and restricted ca
    		                                               
      deferred income taxes
    		    71,000 138,155,000 2,877,000  787,000 16,701,000 3,441,000         -92,000 221,000 73,000 -311,000 -98,000 20,000   -8,000 0               335,000 0   
      operating lease expense
    		    1,506,000 1,574,000 1,567,000  1,526,000                                       
      income from write-off of property and equipment
    		    367,000 1,179,000 478,000  3,128,000 330,000 120,000  350,000 2,141,000 626,000  815,000 285,000 757,000  206,000           0                
      purchase of strategic equity investment
    		        -2,249,000   0         0 0 -2,000,000             0    0        
      other depreciation and amortization expense
    		       20,773,000 56,918,000 26,484,000 25,543,000 25,702,000 22,374,000 21,636,000 20,285,000 17,001,000 16,086,000 15,341,000 14,846,000 13,930,000 13,254,000 10,591,000 9,243,000         5,036,000 5,208,000 4,704,000 4,389,000 4,519,000 3,933,000 3,491,000 2,577,000 2,331,000 2,767,000 3,241,000 3,172,000 3,336,000 3,279,000 2,509,000 2,035,000 
      impairment of intangible asset
    		       0                                        
      (gain)/loss on textbook library
    		                                               
      gain on sale of strategic equity investments
    		               0                                
      loss on change in fair value of derivative instruments
    		               0 0 0 7,148,000                             
      change in assets and liabilities, net of effect of acquisition of businesses:
    		                                               
      acquisition of businesses, net of cash acquired
    		           0 0 0 -401,125,000 0 0           0                -10,000,000 0   
      proceeds from equity offering, net of offering costs
    		               0 0 0 1,091,466,000                             
      payment of escrow related to acquisition
    		               0                                
      tax benefit related to release of valuation allowance
    		                                               
      repurchases of common stock
    		        0 -35,057,000 -151,311,000  -23,078,000 0 -300,450,000                                 
      restructuring charges
    		                                               
      amortization of debt discount and issuance costs
    		               1,413,000 1,412,000 1,471,000 1,626,000 21,663,000 17,018,000 12,946,000 12,946,000 13,088,000 13,089,000 13,020,000 4,005,000 3,536,000 3,537,000                   
      repayment of convertible senior notes attributable to debt discount
    		                   -5,521,000                            
      realized loss/(gain) on sale of investments
    		                                               
      income from impairment of strategic equity investment
    		                   0                            
      proceeds from issuance of convertible senior notes, net of issuance costs
    		                   0    0 0 97,586,000 682,594,000 0 17,000                   
      purchase of convertible senior notes capped call
    		                   0    0 0 -12,150,000 -85,050,000 0 0                   
      (gain) loss on early extinguishment of debt
    		                                               
      gain on sale of strategic equity investment
    		                 0 -5,338,000                             
      (gain) loss on textbook library
    		            -9,000 -4,357,000 -610,000                                 
      loss on early extinguishment of debt
    		                0 0 78,152,000                             
      loss on early extinguishments of debt
    		                                               
      operating activities
    		                                               
      investing activities
    		                                               
      financing activities
    		                                               
      purchases of strategic equity investment
    		                                               
      common stock issued under stock plans
    		                     5,372,000 2,667,000 7,377,000 10,515,000 10,226,000 6,982,000 5,653,000 5,413,000 12,828,000 5,222,000 10,094,000 3,800,000 7,002,000 2,763,000 990,000 4,000   1,108,000        
      gain on liquidation of textbooks
    		                               0 0 0 -4,766,000 -147,000 2,673,000 -2,191,000 -1,005,000 -1,677,000 -909,000 2,445,000 -4,185,000 1,289,000 -2,044,000 -2,122,000 -1,678,000 
      income from write-offs of textbooks
    		                               0 0 0 314,000 194,000 423,000 249,000 224,000 763,000 923,000 1,067,000 2,544,000 401,000 3,328,000 2,403,000 4,402,000 
      interest accretion on deferred consideration
    		                               0 0               
      other
    		                                               
      change in assets and liabilities net of effect of acquisition of businesses:
    		                                               
      proceeds from liquidations of textbooks
    		                               0 0 0 6,943,000 1,773,000 9,079,000 8,674,000 6,120,000 4,030,000 11,537,000 10,714,000 11,979,000 17,944,000 21,438,000 7,461,000 11,276,000 
      payment of deferred cash consideration related to acquisitions
    		                               0 -189,000               
      proceeds from follow-on offering, net of offering costs
    		                               -23,000                
      supplemental cash flow data:
    		                                               
      cash paid during the period for:
    		                                               
      interest
    		                            18,000 18,000 19,000 19,000 18,000 18,000 30,000 3,000 28,000 0 19,000 19,000 26,000 25,000 25,000 26,000 57,000 0 31,000 
      income taxes
    		                         286,000 626,000  616,000 441,000 503,000 549,000 420,000 433,000 388,000 263,000 579,000 -150,000 402,000 141,000 115,000 148,000 423,000 107,000 73,000 85,000 360,000 
      cash paid for amounts included in the measurement of lease liabilities:
    		                                               
      operating cash flows from operating leases
    		                         -3,451,000 1,126,000                     
      non-cash investing activities:
    		                                               
      accrued purchases of long-lived assets
    		                         43,000 5,127,000  -2,344,000 2,133,000 3,204,000 -139,000 2,568,000 -878,000 2,022,000 816,000 324,000 -1,117,000 2,310,000 772,000 -2,806,000 1,046,000 2,759,000 -1,604,000 1,208,000 2,867,000 2,661,000 
      purchases of marketable securities
    		                          -21,572,000 -33,580,000 -46,642,000 -54,123,000 -12,511,000 -15,830,000    0 0 0 -7,633,000 -15,635,000 -2,848,000 -10,884,000 -6,243,000 -6,834,000 -8,990,000 -12,053,000 -42,829,000 
      maturities of marketable securities
    		                          48,805,000 20,300,000 46,100,000 50,350,000 21,630,000     0 0 600,000 6,244,000 17,851,000 10,299,000 7,550,000 12,140,000 12,470,000 8,630,000   
      textbook library depreciation expense
    		                                   364,000 1,683,000 2,724,000 4,496,000 6,715,000 9,362,000 12,802,000 14,674,000 15,927,000 16,090,000 18,035,000 20,095,000 
      amortization of warrants and deferred loan costs
    		                                         35,000 35,000 35,000 35,000 88,000 29,000 
      proceeds from sale of marketable securities
    		                           0    1,894,000    0 0 22,280,000 550,000 0    3,650,000 3,848,000   
      net cash from by investing activities
    		                                               
      non-cash investing and financing activities:
    		                                               
      reconciliation of cash, cash equivalents and restricted cash:
    		                                               
      cash and cash equivalents
    		                            -5,906,000 278,099,000 106,827,000                 
      restricted cash included in other assets
    		                            218,000 60,000 423,000                 
      total cash, cash equivalents and restricted cash
    		                            -5,688,000 278,075,000 107,334,000                 
      acquisition of business
    		                                  -188,000            -500,000 
      restricted cash included in other current assets
    		                              84,000                 
      provision (release) for bad debts
    		                                               
      realized gain on sale of securities
    		                                           -3,000 0   
      net increase in cash and cash equivalents
    		                               4,230,000    -12,884,000    -13,912,000      -8,657,000 -37,424,000 
      cash and cash equivalents, beginning of period
    		                               0 0 0 77,329,000 0 0 0 67,029,000 0 0 0 56,117,000 0 0 0 76,864,000 
      cash and cash equivalents, end of period
    		                               4,230,000 56,141,000 -4,208,000 70,294,000 -12,884,000 40,534,000 8,175,000 41,504,000 -13,912,000 45,854,000 -14,941,000 50,028,000 2,931,000 22,403,000 -8,657,000 39,440,000 
      issuance of common stock related to prior acquisition
    		                                       0 0 0 825,000     
      change in assets and liabilities, net of acquisition of business:
    		                                               
      payment of taxes related to the net share settlement of rsus
    		                                -3,052,000 -2,232,000 -12,618,000 -1,722,000 -817,000 -1,909,000 -6,331,000 -630,000 -608,000 -3,081,000 -4,391,000 -206,000 -186,000 -134,000 -3,454,000 
      net decrease in cash and cash equivalents
    		                                 -4,208,000 -7,035,000   8,175,000 -25,525,000   -14,941,000 -6,089,000     
      income from disposal of property and equipment
    		                                         716,000 202,000     
      impairment of intangible assets
    		                                               
      release of cash from escrow
    		                                               
      accrued deferred cash consideration related to acquisition
    		                                   728,000 166,000           
      (release) benefit from bad debts
    		                                               
      revaluation of preferred stock warrants
    		                                               
      proceeds from debt obligations
    		                                               
      payments of debt obligations
    		                                               
      proceeds from initial public offering, net of issuance costs
    		                                               
      conversion of preferred stock warrants to common stock warrants
    		                                               
      conversion of preferred stock warrants into common stock
    		                                               
      issuance of common stock upon exercise of stock warrants
    		                                               
      deemed dividend to preferred stockholders
    		                                               
      issuance of common stock warrants in connection with consulting services
    		                                               
      common stock offering costs not yet paid
    		                                               
      classification
    		                                               
      computers and equipment
    		                                               
      software
    		                                               
      furniture and fixtures
    		                                               
      leasehold improvements
    		                                               
      content
    		                                               
      benefit from bad debts
    		                                         -45,000 -224,000 -282,000 319,000   
      proceeds from issuance of common stock under employee stock plans
    		                                            258,000   
      proceeds from exercise of common stock under employee stock plans
    		                                         3,904,000 6,626,000     
      change in assets and liabilities net of effect of acquisition of business:
    		                                               
      impairment of intangibles
    		                                               
      proceeds from issuance of convertible preferred stock
    		                                               
      proceeds from exercise of common stock under employee stock plans and preferred stock warrants
    		                                               
      repurchase of common stock and vested stock options
    		                                               
      issuance of preferred stock warrants
    		                                               
      issuance of common stock related to acquisition
    		                                           1,000,000 0   
      cancellation of common shares held in escrow from acquisitions
    		                                               
      stock-based compensation expense
    		                                            11,794,000 8,481,000 6,930,000 
      benefit from (recovery of) bad debts
    		                                              -41,000 
      proceeds from maturities of marketable securities
    		                                              13,100,000 
      proceeds from exercise of stock options
    		                                              89,000 
      gain from liquidation of textbooks
    		                                               
      changes in assets and liabilities:
    		                                               
      proceeds from liquidation of textbooks
    		                                               
      purchases of property and equipment and other assets
    		                                               
      acquisitions of businesses, net of cash acquired
    		                                               
      proceeds from exercise of stock options and preferred stock warrants
    		                                               
      payment of taxes related to the net settlement of rsus
    		                                               
      cash and cash equivalents at beginning of period
    		                                               
      cash and cash equivalents at end of period
    		                                               
      supplemental cash flow data
    		                                               
      conversion of preferred stock into common stock
    		                                               
      issuance of common stock and stock options in connection with acquisitions
    		                                               
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.