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Zovio, Inc. (Nasdaq: ZVO) announced that it has resolved an inquiry by the Massachusetts Attorney General's Office with an Assurance of Discontinuance, focusing on alleged violations of state consumer protection laws related to the former Ashford University. After a seven-year investigation, Zovio will pay $295,120 and cease collection of certain student balances for Massachusetts residents between 2011 and 2014. Zovio denies wrongdoing, emphasizing the decision aims to end ongoing legal issues and allow a focus on student success.
Fullstack Academy, a tech education provider, is launching a data analytics bootcamp in collaboration with Oregon State University (OSU) on the West Coast by winter 2022. The program, lasting 26 weeks, targets all tech skill levels and aims to fill over 1,500 data analytics roles in Oregon, amid a projected 21.5% national growth in the sector. The bootcamp will offer both in-person and remote training options, equipping professionals with essential skills for the growing data-driven job market.
Zovio (Nasdaq: ZVO) announced that EVP of Operations, Chris Spohn, will participate in a Water Tower Research Fireside Chat on June 15, 2021, at 3 PM EDT. The discussion will focus on Zovio's University Partners Group and the evolving landscape of education technology. Spohn aims to showcase how Zovio utilizes technology and data analytics to support colleges and universities, addressing challenges like student retention and transitioning schools online. Registration for the event is available here.
Fullstack Academy has partnered with Cleveland State University (CSU) to launch accelerated tech skills training programs in Ohio, targeting high-demand jobs. The CSU Tech Bootcamps will offer three tracks—cybersecurity, coding, and data analytics—over a 26-week period. With nearly 1,000 entry-level tech positions available, this initiative aims to address the regional skills gap. Major corporations in Ohio are expected to drive workforce growth in these fields by up to 25% and 8% over the next decade, respectively. Scholarships will also be available for CSU alumni and veterans.
The University of Arizona Global Campus (UAGC) has formed an exclusive education partnership with Walgreens, providing five full-tuition scholarships and a 35% discount on tuition for bachelor's and master's programs for Walgreens team members and their families. This initiative benefits over 300,000 Walgreens employees nationwide. UAGC, through Zovio Employer Services, offers flexible online education, enabling working adults to balance their studies with work.
UAGC, affiliated with the University of Arizona, serves approximately 35,000 students and offers over 50 degrees.
Zovio Inc (NASDAQ: ZVO) reported its Q1 2021 financial results, revealing revenue of $76.9 million, down from $97.9 million in Q1 2020. The operating loss improved to $9.3 million from $10.5 million year-over-year, but the net loss shifted to $9.5 million compared to a net income of $2.0 million last year. Diluted loss per share was $0.29, compared to a profit of $0.06. Non-GAAP results showed a net loss of $3.3 million. The company had cash and equivalents of $35.1 million as of March 31, 2021, with positive cash flow from operations of $0.8 million, a turnaround from the previous year's loss.
On May 6, 2021, TutorMe partnered with Nebraska Indian Community College to provide its students with 24/7 access to online tutoring services as part of their tuition. With over 14,000 tutors available for assistance in more than 300 subjects, TutorMe offers various tools such as virtual whiteboards and audio/video chat for enhanced learning experiences. This agreement aims to bolster the college's commitment to creating a supportive learning environment. TutorMe is a division of Zovio, an education technology services company focused on improving learner outcomes.
Zovio (Nasdaq: ZVO) has announced it will release its Q1 2021 financial results on May 12, 2021, after market close. A conference call for investors and analysts will take place at 5:00 PM ET on the same day. Interested participants can join by calling 877-395-6119 (U.S.) or 647-689-5537 (International), using conference ID: 4682767. This call will also be broadcast live on the company's website. Zovio focuses on education technology services, partnering with institutions to enhance learning experiences.
Zovio (Nasdaq: ZVO) has received the 2021 Volunteer Recognition Award from the City of Chandler, Arizona, for its community impact. This award is presented to one organization annually, recognizing volunteer efforts and relationships with local partners. Zovio emphasizes corporate responsibility, providing employees with 16 hours of paid volunteer time, resulting in over 160,000 hours contributed. During the pandemic, Zovio donated $25,000 to support relief efforts and provided resources for online learning, showcasing its commitment to community support.
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