ASPEN GROUP INC - ASPU STOCK NEWS

Aspen Group, Inc. (Nasdaq: ASPU) announced the departure of C. James Jensen from its Board of Directors, who will transition to an Advisory Board role as he pursues a new business. Joining the Board as an independent director is Dr. Joan Prince, former Vice Chancellor for Global Inclusion and Engagement at the University of Wisconsin Milwaukee. This leadership change aims to enhance the company's focus on diversity and inclusion, as Dr. Prince will also serve on the Compensation Committee. The Board will maintain eight directors, with seven being independent.

Aspen Group, Inc. (Nasdaq: ASPU) reported a strong fourth quarter for FY 2021, with revenues rising 35% to $19.1 million, driven by significant contributions from its BSN Pre-Licensure program and MSN-FNP courses. The company forecasts FY 2022 revenue between $85 million and $88 million, anticipating a 27% growth. Despite a net loss of $10.4 million for FY 2021, AGI aims for profitability by Q4 2022, supported by a focused marketing strategy and an efficient spending plan. The introduction of 'Aspen 2.0' is expected to optimize marketing spends and improve financial performance.

Aspen Group, Inc. (ASPU) announced the appointment of Matthew LaVay as Chief Financial Officer, effective August 16, 2021. LaVay brings over 20 years of financial leadership, having previously served as CFO for Amerit Fleet Solutions and Ellie Mae, where he played a key role in substantial revenue growth. His extensive experience in Software, Financial Services, and Education is expected to enhance Aspen's strategic direction and financial operations. CEO Michael Mathews emphasized LaVay's capability to scale companies, aligning with Aspen's mission to make college affordable again.

Aspen Group (ASPU) reported impressive full-year fiscal 2021 results, with bookings increasing 29% to $143.4 million and revenue rising 38% to $67.8 million. The company's fourth quarter revenue experienced a 35% growth from the previous year, reflecting a recovery in course starts for nursing programs. At fiscal year-end, Aspen Group had $13.5 million in total available liquidity, setting a solid foundation for future growth, particularly in its MSN-FNP program and new campuses.

Aspen Group (Nasdaq: ASPU) reported a 23% year-over-year increase in new student enrollments for Q4 FY 2021, totaling 2,182. Bookings rose 21% to $32.2 million. For the full fiscal year, bookings hit $143.4 million, up from $111.3 million. The company ended FY 2021 with $8.5 million in unrestricted cash and total liquidity of $13.5 million, including an undrawn $5 million credit facility. Aspen University's student body rose 17% to 11,117, while USU's increased 41% to 2,769.

Aspen Group reported a 33% revenue increase in Q3 FY2021, totaling $16.6 million compared to $12.5 million in Q3 FY2020. The GAAP gross profit was $8.7 million, with a margin of 52%. Despite this growth, the company faced a net loss of $2.8 million, slightly worse than the $2.3 million loss from the previous year. Operating expenses rose due to new campus launch costs, although the Phoenix metro program showed promising profitability with a 52% EBITDA margin. Looking ahead, Q4 forecasts predicted 31%-33% revenue growth but lower than previously estimated.

Aspen Group, Inc. (Nasdaq: ASPU) announced the launch of its new Bachelor of Science in Nursing (BSN) Pre-Licensure program in Nashville, Tennessee, following necessary state and board of nursing approvals. The program enables enrollment of first-year prerequisite students effective immediately, with classes starting in April 2021. The 120-credit program costs below $50,000 and offers various flexible learning options. Aspen Group aims to have 12 operational BSN locations by 2025, further enhancing accessibility to nursing education.

Aspen Group, Inc. (Nasdaq: ASPU) announced the amicable departure of Chief Financial Officer Frank J. Cotroneo, effective February 26, 2021. The company is conducting an executive search for a new CFO, with Chief Accounting Officer Robert Alessi temporarily taking over the responsibilities. CEO Michael Mathews praised Cotroneo for his contributions in building a strong finance team and improving financial processes. Aspen Group focuses on making college affordable through its universities, Aspen University and United States University.

Aspen Group reported a 22% increase in total active student body to 13,407 and a 26% growth in nursing students, comprising 87% of the total. For Q3 FY2021, enrollments rose to 2,129, with bookings increasing 24% year-over-year to $33 million. Despite a 38% rise in average cost of enrollment (CAC) to $1,365, the marketing efficiency ratio remained high at above 11X. The company plans to open eight new campuses in the Southern US over four years, aiming for continued growth and shareholder value.