Aspen Group, Inc. · OTC:ASPU
Aspen — FY2022 Earnings Presentation
14 slides from Aspen's earnings presentation, Jul 19, 2022
Slide 1: Fourth Quarter & Fiscal Year 2022 Earnings Slides
Fourth Quarter & Fiscal Year 2022 Earnings Slides CREATING VALUE BY Michael Mathews, Chairman & Chief Executive Officer TRANSFORMING THE COLLEGE Matt LaVay, Chief Financial Officer July 19, 2022 EDUCATION EXPERIENCE Nasdaq: ASPU
Slide 2: Safe Harbor Statement
SAFE HARBOR STATEMENT Certain statements in this presentation and responses to various questions including our ability to improve operating results with controlled spending, future revenue trends including from our new Atlanta campus, the timing for new campuses to achieve profitability, USU growth,
Slide 3: Fourth Quarter Fiscal Year 2022 Highlights
FOURTH QUARTER FISCAL YEAR 2022 HIGHLIGHTS (All comparisons are Q4 FY’22 versus Q4 FY’21) REVENUE GROSS PROFIT NET LOSS UP UP $ 1 9 .4 M 2% $10.3M 4% $(2.1)M $0.2M Lower RE V E N U E GR O S S P R O F I T NE T L O S S • Margin declined 100 bps due • Marketing expense control led to a to investment in
Slide 4: Fiscal Year 2022 Highlights
FISCAL YEAR 2022 HIGHLIGHTS (All comparisons are FY’22 versus FY’21) REVENUE GROSS PROFIT NET LOSS UP UP $76.7M 13% $39.6M 7% $(9.6)M $0.9M Lower RE V E N U E GR O S S P R O F I T NE T L O S S • Increase primarily due to • Aspen 2.0 reduced marketing spend modest increase YoY in • USU’s FNP remains
Slide 5: Q4 FY'22 Enrollment and Bookings Overview
Q4 FY’22 Enrollment and Bookings Overview Q4 FY’22 Y-O-Y Q4 FY’22 Y-O-Y Factors impacting Q4 FY’22 Bookings* Enrollment Enrollment & Bookings (in millions) • Strategic decrease in $32.2 2,182 marketing spend • RNs workloads lowered 1,593 USU and AU post-licensure $21.7 $21.7 1,535 degree enrollment
Slide 6: Q4 FY'22 Revenue and Gross Profit
Q4 FY’22 Revenue and Gross Profit Revenue Y-O-Y Compare Gross Profit Y-O-Y Compare (in millions) (in millions) $19.1 REVENUE $19.4 +2% $5.7 $6.6 $9.9 GROSS $10.3 PROFIT +4% $13.3 $12.8 Q4 FY'21 AU USU Q4 FY'22 Q4 FY'21 Q4 FY'22 Investment in higher LTV degree programs delivered year-over-year Gross
Slide 7: G&A Controls in Q4 FY'22; Pre-Licensure Campus Expansion to Five States
G&A Controls in Q4 FY’22; Achieved With Pre-Licensure Campus Expansion to a Total of Five States Q4 FY’22 Y-O-Y G&A and Revenue Comparison (in millions) • G&A was 58% of revenue due to cost controls $19.4 associated with the Aspen 2.0 business plan. $19.1 • G&A was flat Y-O-Y primarily due to increa
Slide 8: AGI Active Student Body Declined 4% to 13,334; Nursing 86%
AGI Active Student Body Declined 4% to 13,334; Nursing Students Represent 86% of Total Student Body AU and USU Active Student Body* and Nursing Students by University 11,117 10,911 11,184 10,736 10,225 9,410 9,269 9,531 9,116 8,632 2,636 2,769 2,789 2,968 2,911 3,134 2,773 2,988 2,890 3,109 April '2
Slide 9: Income Statement
Income Statement ‘Years Ended April 30, 2022 2021 Revenue $ 76,694,366 $ 67,812,520 Operating expenses: Cost of revenues (exclusive of depreciation and amortization shown separately below) 35,259,281 29,453,733 General and administrative 45,535,001 41,908,030 Bad debt expense 1,500,000 2,268,540 Dep
Slide 10: Reconciliation of Net Income (Loss) to EBITDA and Adjusted EBITDA By Subsidiary
Reconciliation of Net Income (Loss) to EBITDA and Adjusted EBITDA By Subsidiary NM – Not meaningful
Slide 11: Balance Sheet (Assets)
Balance Sheet (Assets) Assets Current assets: Cash and cash equivalents Restricted cash Accounts receivable, net of allowance of $3,460,288 and $3,289,816, respectively Prepaid expenses Other current assets Total current assets Property and equipment: Computer equipment and hardware Furniture and fi
Slide 12: Balance Sheet (Liabilities and Stockholders' Equity)
Balance Sheet (Liabilities and Stockholders’ Equity)
Slide 13: Subsidiary KPIs (Percentage of Revenue)
Subsidiary KPIs (Percentage of Revenue)
Slide 14: Fourth Quarter & Fiscal Year 2022 Earnings
Fourth Quarter & Fiscal Year 2022 Earnings Slides CREATING VALUE BY IR Contact: Kim Rogers TRANSFORMING THE COLLEGE Hayden IR EDUCATION EXPERIENCE kim@haydenir.com 385-831-7337