Aspen Group, Inc. (NASDAQ:ASPU) Q2 2024 Earnings Call Transcript

Aspen Group, Inc. (NASDAQ:ASPU) Q2 2024 Earnings Call Transcript January 18, 2024

Aspen Group, Inc. isn't one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).

Operator: Greetings, and welcome to the Aspen Group Inc. Second Quarter Fiscal Year 2024 Earnings Call. At this time all participants are in a listen-only mode. The question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce Rozanna Shulman, Corporate Controller. Thank you. You may begin.

Rozanna Shulman: Please note that the company's remarks made during this call, including answers to questions, include forward-looking statements which are subject to various risks and uncertainties. These statements include anticipated future enrollment and revenue trends, revenue growth, our proposed marketing and other spending trends, our future growth and growth strategy, the timing concerning completion of the pre-licensure teach-out, the timing of receipt of funding from the DOE, and generation of positive operating cash flow. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. A discussion of risks and uncertainties related to Aspen Group's business is contained in its filings with over-the-counter markets, including the quarterly report for the six months ended October 31, 2023, and in the press release issued this afternoon.

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Other risks include our reliance on third parties who may have different priorities, government spending on healthcare, which partially creates the demand for nurses, and our ability to [sublet real estate re-lease] (ph). Aspen Group disclaims any obligation to update any forward-looking statements as a result of future development. Also, I'd like to remind you that during this conference call, the company will discuss EBITDA and adjusted EBITDA, which are non-GAAP financial measures in talking about the company's performance. Reconciliation to the most directly comparable GAAP financial measures are provided in the table in the press release issued by the company today. Please note that the press release is available on Aspen Group's website, aspu.com, on the IR calendar page under News/Events.

It also will be available at otcmarkets.com/OTCQB. A transcript of this conference call will be available for one year on the company's website. Now, I will turn the call over to Mr. Mathews.

Michael Mathews: Good afternoon and thank you for joining our earnings conference call for the second quarter of fiscal year 2024. I'm looking forward to sharing some exciting updates and achievements from Aspen Group in terms of our income statement performance, balance sheet improvements, and operating results. Let's start with our financial performance. In Q2 fiscal year ‘24, we made significant progress in several key areas. We narrowed our net loss year-over-year by an impressive 30%, helped by our financial discipline amid the wind down of the Aspen University pre-licensure program. I'm delighted to announce that we achieved our fourth consecutive quarter of positive EBITDA. Additionally, we generated cash from operations during the second fiscal quarter.

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