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Market Data: Yahoo Finance, Bloomberg, SEC Filings

Report Link: Research Update Released (Dated 03/29/2018)

Symbol: ASPU
Analyst: Howard Halpern
Taglich Rating: Speculative Buy
Price Target: $10.00
Time Horizon: 12 Months
Rating Established: January 19, 2016
Price When Established: $0.13
Most Recent Report: March 29, 2018
Price When Issued: $7.05

What's New

Aspen University Reports 4Q18 Results

On July 12, 2018 Aspen University reported 4Q18 results, ended April 30, 2018.

ASPU reported revenues increased by 68.4% to $7.2 million and a net loss per share of (0.15) after excluding a one-time charge of approximately ($0.11) per share for the early extiguishment of debt. Last year the company reported revenues of $4.2 million and a net loss of $724,000 or ($0.06) per share. 4Q17 included two one-time charges and a non-recurring charge totaling $739,749. Excluding non-recurring items the company earned approximately $16,019.

4Q18 growth was driven by 38.9% growth in total student enrollments to 6,500 and 48% growth to 4,532 students at Aspen University paying tuition and fees through a monthly payment method.

We forecasted 4Q18 revenue of $6.7 million and a net loss $1.6 million or ($0.11) per share.

Aspen Group Reports Record Total New Enrollments in 4Q18

On June 14, 2018 Aspen Group reported the company reached a record of 1,273 total new student enrollments in 4Q18. New student enrollments were 1,096 at Aspen University and 177 at United States University.

Aspen’s active student body reached 6,600 in 4Q18, up 39% from 4,681 in the year-ago period.

Aspen Group has over 4,800 students paying through a monthly payment method that delivers monthly recurring tuition exceeding $1.2 million.

ASPU Increases 4Q18 Revenue Guidance and Raises Capital

On April 19, 2018 Aspen Group increased is revenue for its fourth quarter of fiscal 2018, ended April 30, 2018.

ASPU expects to report revenues increased nearly 68% to at least $7.2 million, from $4.3 million in the year-ago period. On March 15, 2018, the company had issued revenue guidance of $6.7 million. The increase in its revenue guidance reflects April 2018 class starts at Aspen University and United States University.

Our current forecast calls for 4Q18 revenue of $6.7 million.

The company announced it raised capital through a public offering 2.8 million of newly issued common stock at $7.15 per share for gross proceeds of approximately $20 million. The offering is expected to close on April 23, 2018, subject to customary closing conditions. Management indicated the proceeds would be used for general corporate purposes and working capital.

Company Description

Aspen Group, Inc., headquartered in Denver, Colorado, provides online postsecondary education through its Aspen University subsidiary. ASPU’s mission is to provide a quality, responsibly priced distance-learning education with a top-tier faculty - 60% of adjunct-professors hold doctoral degrees. The company offers certificate programs and associate, bachelor, master and doctoral degree programs in nursing, business, education, technology, and professional studies. ASPU’s school of nursing is its fastest growing program with 48% of full-time degree seeking students enrolled in one of its nursing programs in 2Q16 compared to 36% in the year-ago period.

Company Reports

Updated Research Report (Dated 03/29/2018)

Updated Research Report (Dated 12/19/2017)

Updated Research Report (Dated 09/20/2017)

Updated Research Report (Dated 08/08/2017)

Research Note Released (Dated 06/08/2017)

Updated Research Report (Dated 03/17/2017)

Research Note Released (Dated 02/10/2017)

Updated Research Report (Dated 01/06/2017)

Updated Research Report (Dated 09/28/2016)

Updated Research Report (Dated 08/09/2016)

Updated Research Report (Dated 03/17/2016)

Initial Research Report (Dated 01/19/2016)


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