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Quarterly report pursuant to Section 13 or 15(d)

Revenue

v3.10.0.1
Revenue
6 Months Ended
Oct. 31, 2018
Revenue from Contract with Customer [Abstract] Ìý
Revenue

Note 10. Revenue


Revenues consist primarily of tuition and fees derived from courses taught by the Company online as well as from related educational resources that the Company provides to its students, such as access to our online materials and learning management system. The CompanyÂ’s educational programs have starting and ending dates that differ from its fiscal quarters. Therefore, at the end of each fiscal quarter, a portion of revenue from these programs is not yet earned and is therefore deferred. The Company also charges students fees for library and technology costs, which are recognized over the related service period and are not considered separate performance obligations. Other services, books, and exam fees are recognized as services are provided or when goods are received by the student. The companyÂ’s contract liabilities are reported as deferred revenue and refunds due students. Deferred revenue represents the amount of tuition, fees, and other student invoices in excess of the portion recognized as revenue and it is included in current liabilities in the accompanying consolidated balance sheets.


The following table represents our revenues disaggregated by the nature and timing of services:


Ìý

Ìý

For the

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Ìý

For the

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Ìý

Ìý

Three Months Ended

Ìý

Ìý

Six Months Ended

Ìý

Ìý

Ìý

October 31,

Ìý

Ìý

October 31,

Ìý

Ìý

Ìý

2018

Ìý

Ìý

2017

Ìý

Ìý

2018

Ìý

Ìý

2017

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Tuition - recognized over period of instruction

Ìý

$

7,442,392

Ìý

Ìý

$

4,628,065

Ìý

Ìý

$

14,076,232

Ìý

Ìý

$

8,713,858

Ìý

Course fees - recognized over period of instruction

Ìý

Ìý

539,665

Ìý

Ìý

Ìý

147,386

Ìý

Ìý

Ìý

1,000,876

Ìý

Ìý

Ìý

226,268

Ìý

Book fees - recognized at a point in time

Ìý

Ìý

26,251

Ìý

Ìý

Ìý

24,460

Ìý

Ìý

Ìý

50,465

Ìý

Ìý

Ìý

38,413

Ìý

Exam fee - recognized at a point in time

Ìý

Ìý

43,600

Ìý

Ìý

Ìý

30,900

Ìý

Ìý

Ìý

95,840

Ìý

Ìý

Ìý

61,000

Ìý

Service fees - recognized at a point in time

Ìý

Ìý

43,436

Ìý

Ìý

Ìý

20,828

Ìý

Ìý

Ìý

93,236

Ìý

Ìý

Ìý

54,986

Ìý

Ìý

Ìý

Ìý

Ìý