Aspen Group, Inc. (ASPU) has seen an incline of 6.48% in the aftermarket. However, the last trading session concluded at $5.09 with a decrease of 1.17%.
ASPU Records Revenue of $19.4 million Growth in First Quarter Fiscal 2022
ASPU announced on 17th September 2021 that the company has observed $19.4% growth in the first quarter of fiscal 2022. From $15.2 million in Fiscal Q1 2021 to $19.4 million in Fiscal Q1 2022, revenue rose by 28 percent. The BSN Pre-Licensure program at Aspen University (AU) contributed for 23% of overall Company income, with United States University (USU) accounting for 32%.
When comparing Fiscal Q1 2022 to Fiscal Q1 2021, GAAP gross profit grew by 16 percent to $10.4 million. In Fiscal Q1 2022, the gross margin was 54 percent, down from 59 percent in Fiscal Q1 2021. Moreover, higher instructional expenditures and marketing expenses associated with three locations that were not operational during the same period last year affected gross margin in Fiscal Q1 2022.
Change in Board of Directors
ASPU reported a change in the Board of Directors on 14th July 2021. C. James Jensen will resign from the company’s board of directors, the company stated. Mr. Jensen decided to join AGI’s Advisory Board despite the fact that he is beginning a new firm that will take up the majority of his time. Dr. Joan Prince has been appointed as an independent director to the Company’s Board of Directors. The modifications go into effect right away.
Dr. Joan Prince, an independent director, will replace the board position left vacant by Mr. Jensen’s resignation. Dr. Prince, who recently resigned as Vice Chancellor for Global Inclusion and Engagement at the University of Wisconsin Milwaukee, will serve on the Compensation Committee and act as a mentor for the Company’s efforts to increase workplace diversity and inclusion.
38% Growth in Fiscal Year 2021
On 13th July 2021, ASPU published financial results for the fourth quarter and fiscal year ending April 30, 2021. Firstly, in Fiscal Q4 2021, revenues grew by 35% to $19.1 million, up from $14.1 million in Fiscal Q4 2020. USU contributed 30% of the Company’s consolidated revenues, while AU’s BSN Pre-Licensure program accounted for 21%.
Secondly, in Fiscal Q4 2021, gross profit grew by 19 percent to $9.9 million, representing a 52 percent gross margin. Following the opening of three new BSN Pre-Licensure campuses, a year-over-year reduction in gross margin was projected. Thirdly, but the gross margin is expected to increase during Fiscal Year 2022.