Aspen Group Inc.

0.0980+0.00 (+0%)

Oct 29, 4:00:00 PM EDT · OTC Markets OTCQB · ASPU · USD

Upcoming Earnings

Report date

Key Stats

Market Cap

2.85M

P/E (TTM)

Basic EPS (TTM)

-0.26

Dividend Yield

Recent Filings

8-K

COO resigns without disputes

5/22/23May 22, 2023

Aspen Group, Inc. announced the resignation of Gerard Wendolowski as Chief Operating Officer, effective May 15, 2023. The departure stemmed from no disagreements over operations, policies, or practices. This shift leaves the company adjusting its leadership structure amid ongoing business demands.

10-Q

Q3 FY2023 results

5/16/23May 16, 2023

Aspen Group's Q3 FY2023 revenue fell 18% y/y to $15.6M, driven by enrollment stoppages in its pre-licensure nursing program and reduced marketing spend, yet gross margins expanded to 62% from 49% as costs dropped sharply. Operating loss narrowed to $0.8M from $3.3M, with net loss at $1.6M or $(0.06) per diluted share on 25.4M shares, while YTD net loss widened slightly to $7.6M or $(0.30) per share. Cash and equivalents stood at $1.6M with $4.9M restricted, down from $6.5M and $6.4M, respectively; free cash flow (derived) was negative $6.1M YTD amid $2.0M capex. Total debt totaled $15.0M, including $10.0M convertible notes at 12% due 2027 and $5.0M facility at 14% due November 2023, with $20M revolver undrawn but expired post-period. Pre-licensure revenue, 19% of the quarter, faces teach-out through mid-2024 under Arizona Board consent. Regulatory scrutiny from accreditors and DOE persists, risking Title IV eligibility.

8-K

Aspen Group secures $12.4M debentures

5/16/23May 16, 2023

Aspen Group closed a $12.4 million senior secured debenture deal with JGB Management on May 12, 2023, netting $11 million after an 11% discount to repay $5 million in prior debt and fund working capital. The 15% interest debentures mature in 2026, secured by assets with subsidiary guarantees, while warrants for 2.2 million shares at $0.01 add dilution risk. Covenants demand $2 million restricted cash and $20 million receivables. This refinances obligations but hikes costs amid enrollment pushes.

8-K

CAO termination for cost cuts

5/8/23May 8, 2023

Aspen Group terminated its Chief Accounting Officer Robert Alessi effective May 4, 2023, to cut costs amid ongoing efforts. He receives six months' base salary plus accrued pay and full vesting of prior equity awards. This leadership shift streamlines operations but requires interim accounting oversight.

8-K

BSN program teach-out approved

3/27/23Mar 27, 2023

Aspen Group subsidiary Aspen University amended its September 2022 Consent Agreement with the Arizona Board of Nursing on March 23, 2023, allowing the BSN Pre-licensure program teach-out to proceed. This enables continued instruction and clinical opportunities to meet educational standards, while fostering cooperative oversight with the Board, consultant, and ombudsperson. Students advocated fiercely. The move supports orderly program closure amid regulatory scrutiny.

About

Aspen Group, Inc., an education technology company, provides online higher education services in the United States. The company offers associates, bachelor's, master's, and doctoral degree programs in nursing and health sciences, business and technology, and education fields through Aspen University and United States University. As of April 30, 2025, 4,860 of 5,809 or 84% of all active students across both universities are degree-seeking nursing students. Aspen Group, Inc. was founded in 1987 and is based in Phoenix, Arizona.

CEO

Mr. Michael D. Mathews

IPO

3/29/2012

Website

https://www.aspu.com

Employees

179

Sector

Consumer Defensive

Industry

Education & Training Services