Amesite Announces Industry-Leading Results on User Retention across Programs, Increase in Sales Activity

Rhea-AI Summary

Amesite Inc. (NASDAQ: AMST) reports a 98% overall retention rate for users enrolled in programs on its technology stack, exceeding industry norms. Specific category retentions include 96% for technology upskilling, 98% for professional development, 97% for cohort-based, and 98% for self-paced programs. The company also experienced a 169% increase in meetings held and a 118% increase in sales opportunities after pivoting to a no-setup fee offer with no minimums. Key partnerships with Benedict College, Drake State Community and Technical College, and West Virginia Northern Community College reflect the acceptance of this offer. The CEO and senior management commented on the benefits of AI-powered programs and infrastructure, enabling lower costs and price points for learning delivery, and the use of NLP and generative AI for student support and content generation.

Insights

Market Research Analyst

Amesite Inc.'s reported retention rates are remarkably high, indicating a strong product-market fit and customer satisfaction. The online education industry typically grapples with course completion rates much lower than what Amesite has achieved. High retention rates are often correlated with recurring revenue streams, which can lead to increased lifetime value of a customer and reduced customer acquisition costs over time. This is a positive signal for investors as it suggests potential for sustainable growth and profitability.

Moreover, the strategic pivot to eliminate setup fees could lower barriers for new customers, potentially accelerating the adoption of Amesite's platform. By increasing sales activity and meetings, Amesite is demonstrating an ability to scale operations and expand its market reach. The partnerships with educational institutions are indicative of the platform's value proposition and could serve as case studies to attract additional clients.

Financial Analyst

The reported increase in sales activity and opportunities, quantified by a 169% increase in meetings and a 118% increase in sales opportunities, could be a precursor to revenue growth. The no-setup fee model may reduce immediate revenue per sale but could lead to higher volume and customer retention. This strategy may also reflect a lower cost of customer acquisition, which is a critical metric for investors evaluating the efficiency of a company's growth strategy.

Investors should monitor subsequent financial statements to assess the impact of these changes on Amesite's bottom line. The company's ability to convert increased sales activity into actual revenue will be key to understanding the long-term financial implications of the operational shift. If the strategic changes lead to an improved cost structure and profitability, this could be reflected in the company's stock valuation.

Educational Technology Expert

Amesite's use of AI, particularly NLP and generative AI, to support student learning is a significant technological advancement in the EdTech sector. These technologies can personalize the learning experience and provide scalability in student support, which is critical in online learning environments. The successful application of such AI tools could set a precedent for the industry, potentially leading to a shift in how educational content is delivered and supported.

The emphasis on AI-driven programs and infrastructure suggests that Amesite is focusing on innovation to differentiate itself from competitors. By leveraging AI to lower delivery costs, Amesite may be able to offer more competitive pricing while maintaining or improving educational outcomes, which could disrupt traditional models in the education sector.

DETROIT, Feb. 06, 2024 (GLOBE NEWSWIRE) -- Amesite Inc. (NASDAQ: AMST), a leading artificial intelligence software company offering a cloud-based learning platform for business and education markets, announces aggregate retention numbers for users enrolled in programs delivered on its technology stack, and its growing sales activity.

Amesite reports an overall retention rate (the percentage of enrollees that remain in a course) of 98% for paid learning experiences on its platform. These results overwhelmingly exceed industry norms. On average, online retention rates for paid online courses are only between 68-73%. Amesite retentions in specific categories follow:

• 96% retention for technology upskilling programs, such as data science or electric vehicle technologies
• 98% retention for professional development programs, such as implicit bias or building successful customer relationships
• 97% retention for cohort-based programs, such as logistics or coding for gaming
• 98% retention for self-paced programs, such as implicit bias or smart manufacturing

Amesite has reported on the importance of use of AI in education, including use of Natural Language Processing (NLP) and integration of generative AI models to offer student support, to drive improved educational outcomes.

Amesite also reports an increase in sales activity, with its recent pivot to a no-setup fee offer with no minimums. Since Amesite’s pivot from high-cost sales to a repeatable motion with no set-up fee, the Company has seen a 169% increase in meetings held and a 118% increase in sales opportunities. Recent, key partnerships with Benedict College, Drake State Community and Technical College and West Virginia Northern Community College reflect acceptance of this offer.

Dr. Ann Marie Sastry, CEO of Amesite, commented, “We invested deeply in the tech and we believe we are seeing the rewards of this now, in terms of user outcomes and reduced costs of delivery for us and for our Customers. Our AI-powered programs and infrastructure enable institutions to deliver learning with lower costs and price points, and we are working now to drive scale.” 

Mr. Sai Nittala, Amesite’s Senior AI Manager, commented, “Our use of NLP and generative AI in features and tools such as news feeds, AI-content generation, and 24/7 student support are based on studies on social media, which can now be used for the benefit of education.” 

Mr. Brandon Owens, Amesite’s VP Sales, commented, “Our technology investments have resulted in an offer that every college and university can leverage. Our partners appreciate our straightforward business terms and our ease of implementation.”

About Amesite Inc.  
Amesite is an ed-tech, SaaS company with the most advanced artificial intelligence driven online learning platform in the industry, providing both content creation and a best-in-class infrastructure for the multi-billion-dollar online learning markets in business and education. For more information, visit https://amesite.com.  

Forward Looking Statements  
This communication contains forward-looking statements (including within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended) concerning the Company, the Company's planned online machine learning platform, the Company's business plans, any future commercialization of the Company's online learning solutions, potential customers, business objectives and other matters. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as "may," "will," "should," "would," "expect," "plan," "believe," "intend," "look forward," and other similar expressions among others. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement. Risks facing the Company and its planned platform are set forth in the Company's filings with the SEC. Except as required by applicable law, the Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.  

Investor Relations Contact:
MJ Clyburn
TraDigital IR
clyburn@tradigitalir.com 

FAQ

What is the overall retention rate reported by Amesite Inc. for users enrolled in programs?

Amesite Inc. reports an overall retention rate of 98% for users enrolled in programs on its technology stack.

What are the specific category retention rates reported by Amesite Inc. for its programs?

Specific category retentions include 96% for technology upskilling, 98% for professional development, 97% for cohort-based, and 98% for self-paced programs.

What increase in meetings held and sales opportunities did Amesite Inc. experience after pivoting to a no-setup fee offer with no minimums?

Amesite Inc. experienced a 169% increase in meetings held and a 118% increase in sales opportunities after pivoting to a no-setup fee offer with no minimums.

Which colleges and universities have recently partnered with Amesite Inc.?

Key partnerships with Benedict College, Drake State Community and Technical College, and West Virginia Northern Community College reflect the acceptance of Amesite Inc.'s offer.

What benefits of AI-powered programs and infrastructure were commented on by the CEO and senior management of Amesite Inc.?

The CEO and senior management commented on the benefits of AI-powered programs and infrastructure, enabling lower costs and price points for learning delivery, and the use of NLP and generative AI for student support and content generation.