The following is a summary of the Aspen Group, Inc. (ASPU) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Aspen Group's net loss narrowed year-over-year by 30% in Q2 2024 due to financial discipline amid a program wind-down.

• The company reported its fourth consecutive quarter of positive EBITDA and cash from operations.

• Total revenue reached $13.8 million, a decrease of 19% from the prior fiscal year due to reduced marketing spend and pre-licensure program effects.

• A gross profit of $8.7 million was achieved with a 63% gross margin.

• G&A costs decreased year-over-year to $8.4 million or 61% of total revenue.

• Net loss was reported at $1.6 million or $0.06 per basic and diluted share, a decrease from a net loss of $2.3 million the previous year.

• Consolidated EBITDA for the quarter was positive $419,000, a considerable improvement from the prior year.

Business Progress:

• Enrollment at Aspen University and United States University increased, attributed to demand within the healthcare industry and the value of their programs.

• Developments have been made with the DEAC show cause and reaccreditation process and the Department of Education HCM2 reimbursement.

• The company expects to finish the teach-out of the pre-licensure program in Arizona in January 2024.

• Marketing expenses were reduced, leading to a 5% rise in total enrollments.

• The company aims to resume marketing spend in late fiscal 2024 to grow its student body size in fiscal 2025.

• Aspen Group's end of January 2024 unrestricted cash balance is expected to exceed $2 million due to a reduced surety bond and anticipated financial aid payment of approximately $3.9 million.

More detailed: Aspen Group IR

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