ASPEN GROUP INC - ASPU STOCK NEWS

Aspen Group, Inc. (Nasdaq: ASPU) reported a 13% increase in fiscal year 2022 revenue, totaling $76.7 million, compared to $67.8 million in fiscal year 2021. The preliminary fourth quarter revenue was $19.4 million, up from $19.1 million year-over-year. The company reduced its marketing spend by $1.5 million to ensure adequate cash for a surety bond. Expected fourth-quarter net loss is between ($2.4) million and ($2.1) million, with Adjusted EBITDA projected between $0.3 million and $0.6 million. The company anticipates a lower cash burn and ending cash balance of approximately $6.5 million.

Aspen Group, Inc. (Nasdaq: ASPU) has announced its participation in the B. Riley 22nd Annual Institutional Investor Conference from May 24-26, 2022, at The Beverly Hilton Hotel in Beverly Hills, California. CEO Michael Mathews and CFO Matt LaVay will be present for one-on-one meetings on May 25 and will host a fireside chat that same day. Aspen Group focuses on making college affordable through its universities, Aspen University and United States University. For more information or to schedule a meeting, contact the event organizers via email.

Aspen Group, Inc. (ASPU) reported a revenue increase to $18.9 million for Q3 FY 2022, up from $16.6 million in Q3 FY 2021, marking a 14% year-over-year growth. However, the company faced a net loss of ($3.7 million), wider than the ($2.8 million) loss in the previous year. The gross profit rose to $9.2 million with a 49% gross margin. A revised revenue outlook for FY 2022 is set at $75.5 million to $77.5 million, down from earlier guidance of $77.0 to $80.0 million. The company aims to meet robust demand in nursing education despite challenges posed by COVID-19.

Aspen Group, Inc. (Nasdaq: ASPU) closed a $10 million convertible note and established a $20 million revolving credit facility to fund the expansion of its nursing degree programs. The convertible notes have a five-year maturity, paying 12% interest annually, and can convert into shares at $1.00 each. The credit facility is secured, with no current drawdowns anticipated. These funds will support the growth of BSN Pre-Licensure campuses in high-demand states and enhance marketing for post-licensure programs.

Aspen Group, Inc. (Nasdaq: ASPU) announced it will report its financial results for the period ended January 31, 2022, on March 15, 2022, at 4:30 PM ET. A conference call will follow to discuss these results and the business outlook. The call can be accessed via toll-free numbers for U.S. and international callers. An audio transcript will be available post-call on the company's website.

Aspen Group operates with a vision to make college more affordable through its universities, Aspen University and United States University.

Aspen Group, Inc. (Nasdaq: ASPU) announced that Aspen University has received final regulatory approvals for its Bachelor of Science in Nursing (BSN) Pre-Licensure program in Atlanta, Georgia. Effective immediately, marketing and enrollment of first-year prerequisite students will begin. The program will follow a three-year accelerated model and starts at a total cost of $52,825. The Atlanta area, previously occupied by the University of Phoenix, will serve a growing population, enhancing Aspen's market presence. Support from local healthcare organizations underscores the demand for nursing education in Georgia.

Aspen Group, Inc. (ASPU) reported a revenue increase to $18.9 million in Q2 FY 2022, up from $17.0 million last year. The company's net loss improved by 35% year-over-year to ($2.9 million). Gross profit saw a slight rise to $9.7 million with a gross margin of 51%.

However, the ongoing COVID-19 pandemic has slowed enrollment growth, particularly among RNs, which make up 69% of the student body. Looking forward, ASPU revised its FY 2022 revenue guidance to $77-$80 million.

Aspen Group, Inc. (Nasdaq: ASPU), an education technology holding company, has announced it will release its financial results for the period ended October 31, 2021, on December 14, 2021, at 4:30 p.m. ET. A conference call will follow to discuss the results and business outlook. The company aims to make college more affordable through its universities, Aspen University and United States University. Following the call, a transcript will be available on the company's website, and a seven-day replay will also be offered.

Aspen Group, Inc. (ASPU) reported a 28% increase in revenue for Q1 FY 2022, reaching $19.4 million compared to $15.2 million in the previous year. Despite this growth, the company posted a net loss of ($0.9 million), remaining unchanged year-over-year. EBITDA improved to $0.1 million, signaling a shift towards profitability. Key contributors to revenue included Aspen's BSN Pre-Licensure and US University programs, which had a combined share of 55%. The ongoing Aspen 2.0 strategy aims to enhance profitability by focusing on higher LTV programs.