Aspen Group Inc. (ASPU) shares gained 6.78% in after-hours on Friday, July 16, 2021, and closed the weekly trading at $6.30 per share. Earlier in the morning session, ASPU’s stock lost 0.51% to close Friday’s session at $5.90. ASPU shares have fallen 38.09% over the last 12 months, and they have moved down 8.95% in the past week. Over the past three months, the stock has gained 11.32%, while over the past six months, it has declined 40.70%.
Let’s have a look at its recent news and developments.
Change to Its Board of Directors
On July 14, 2021, Aspen Group, Inc announced the resignation of C. James Jensen from its Board of Directors. Mr. Jensen is starting a new business that will occupy most of his time and agreed to join AGI’s Advisory Board. The Company appointed Dr. Joan Prince to its Board of Directors as an independent director.
Q4 and FY 2021 financial results announcement
On July 13, 2021, Aspen Group, Inc released its financial results for the fourth quarter and fiscal year ended April 30, 2021.
Q4 2021 financial highlights
- Aspen Group reported revenue of $19.1 million for Q4 2021 compared to $14.1 million in Q4 2020.
- In Q4 2021, GAAP gross profit was $9.9 million compared to $8.4 million inQ4 2020.
- Operating loss was $ 2.3 million in Q4 2021 compared with an operating loss of $0.3 million in Q4 2020.
- The company reported a net loss of $2.3 million or loss per share of $0.09 in Q4 2021 compared to a $0.7 million net loss or loss per share of $0.03in Q4 2020.
- Adjusted EBITDA was $0.6 million in Q4 2021 compared to $1.4 million in Q4 2020.
FY 2021 financial highlights
- Aspen Group reported revenue of $67.8 million for FY 2021 compared to $49.1 million in FY 2020.
- GAAP gross profit was $36.9 million in FY 2021 compared to $28.9 million in FY 2020.
- The operating loss was $ 8.2 million in FY 2021 compared with an operating loss of $4.0 million in FY 2020.
- The company reported a net loss of $10.4 million or loss per share of $0.44 in FY 2021 compared to a $5.7 million net loss or loss per share of $0.29 in FY 2020.
- Adjusted EBITDA was $1.3 million in FY 2021 compared to $2.7 million in FY 2020.
The financial outlook for FY 2022
For FY 2020, the company is expecting
- Revenue to be in the range of $85.0 million to $88.0 million.
- Net income(loss) to be between $4.5 million to $3.0 million
- GAAP earnings (loss) per share in the range of $0.18 to $0.12
- Adjusted EBITDA in the range of $2.0 million to$4.0 million
Conclusion
ASPU stock minor loss and later after-hour gains on Friday has no ground. As of this writing, we were unable to find any recent news or development. We hope that ASPN will continue to perform well on Monday as well.
