丝瓜视频

丝瓜视频. Reports a Quarterly Record 2,217 Enrollments, a 42% Increase Year-Over-Year; Quarterly Bookings Increase 92% Year-Over-Year to $31.3 Million

The Company Expects Fiscal 2020 Q2 Revenues to Meet or Exceed Previous Quarter鈥檚 43% Growth Rate; Management to Announce Fiscal Year 2020 Second Quarter Results on December 10th, 2019

NEW YORK, Nov. 11, 2019 (GLOBE NEWSWIRE) -- 丝瓜视频. (鈥淎GI鈥�) (Nasdaq: ASPU), an education technology holding company, today announced record new student enrollments of 2,217 for the fiscal 2020 second quarter ending October 31, 2019, an increase of 42% year-over-year. Quarterly bookings increased 92% year-over-year from $16.3 million to $31.3 million. Consequently, total bookings for first half fiscal 2020 was $58.2 million, which on a run rate basis is tracking 31% ahead of the company鈥檚 full year bookings forecast of $89 million. As a result of these strong bookings, the Company expects fiscal 2020 second quarter revenues to meet or exceed the previous quarter鈥檚 43% growth rate.

Aspen University accounted for 1,823 new student enrollments (includes 190 Doctoral enrollments and 437 Pre-licensure BSN AZ campus enrollments), delivering overall enrollment growth at Aspen University of 41% year-over-year.听 Enrollment growth at Aspen University was highlighted by the Doctoral unit, which increased by 43% and the Pre-Licensure BSN unit, which increased 58% on a sequential basis. The sequential acceleration of growth in the Pre-Licensure BSN unit is a result of a full quarter of enrollments across both campuses now open in Phoenix, AZ. In addition, and similar to first quarter results, our Aspen Nursing + Other Unit experienced an increase in the number of enrollments per Enrollment Advisor (EA) and cost per enrollment declined.听 As a result of this increased efficiency, Aspen鈥檚 Nursing + Other unit grew enrollments by 8% year-over-year.

United States University (鈥淯SU鈥�) accounted for 394 new student enrollments (primarily MSN-Family Nurse Practitioner (鈥淔NP鈥�) enrollments), a 45% increase in enrollments year-over-year. USU plans to continue to implement an academic calendar of bimonthly start dates for FNP students or six starts per annum. In the past two bimonthly starts (August/October), a total of 488 new students entered the FNP program which is equivalent to an annual enrollment run rate of over 1,450, should that pace continue. The previous bimonthly run rate was forecasted at 150 new FNP students per start or 900 per annum. Given the acceleration in new student FNP enrollments, the FNP program is currently growing 61% faster than the previous forecast.

Below is a table reflecting new student enrollments for the past five quarters:

The current Marketing Efficiency Ratio (MER = revenue-per-enrollment or LTV/cost-per-enrollment or CAC) for our four degree units is reflected in the below table:

¹Based on 6-month rolling average
²LTV for USU鈥檚 MSN-FNP Program
³Estimate based on persistence rate of first year cohorts

The improved MER results were driven by declining cost of enrollment.听 Compared to the previous quarter the weighted average cost of enrollment declined 25%, as the cost of enrollment declined for each program.

¹Based on 6-month rolling average

On a year-over-year basis, fiscal 蚕2鈥�20 bookings increased 92%, from $16.3 million to $31.3 million, delivering an average revenue per enrollment (APRU) increase of 35%, from $10,434 to $14,125.

*Note: 鈥淏ookings鈥� are defined by multiplying Lifetime Value (LTV) per enrollment by new student enrollments for each operating unit.

AGI鈥檚 overall active student body (includes both Aspen University and USU) grew 35% year-over-year from 7,950 to 10,718. Aspen University鈥檚 total active degree-seeking student body grew 27% year-over-year from 7,107 to 9,016. Aspen鈥檚 School of Nursing grew 34% year-over-year, from 5,466 to 7,299 active students, which includes 1,051 active students in the BSN Pre-Licensure program in Phoenix, AZ. Specifically, Aspen鈥檚 BSN Pre-Licensure program active student body grew sequentially by 57%, from 670 to 1,051 students, as a result of now having two campuses open in Phoenix, AZ.

Aspen University students paying tuition and fees through a monthly payment method grew by 17% year-over-year, from 5,074 to 5,927. Those 5,927 students paying through a monthly payment method represent 66% of Aspen University鈥檚 total active student body.

USU鈥檚 total active student body grew year-over-year from 843 to 1,702 or 102%, and sequentially from 1,491 to 1,702 or a sequential increase of 14%. USU鈥檚 MSN-FNP active student body grew sequentially from 1,294 to 1,463 or a sequential increase of 13%. USU鈥檚 MSN-FNP program now represents 86% of USU鈥檚 active student body. USU students paying tuition and fees through a monthly payment method grew from 1,053 to 1,101 students sequentially. Those 1,101 students paying through a monthly payment method represent 65% of USU鈥檚 total active student body.

鈥淎s a result of the company exceeding both enrollments and bookings growth forecasts throughout 1H鈥�20, particularly across our highest LTV units, management today is pleased to report that in the fiscal 2020 second quarter, the company expects to meet or exceed last quarter鈥檚 growth rate of 43%. This revenue growth acceleration is forecasted to drive material improvements to the company鈥檚 bottom line and cash burn from operations in the quarter,鈥� said Chairman & CEO, Michael Mathews.

Fiscal 2020 Q2 Earnings Conference Call Details:

丝瓜视频. will host a conference call to discuss its fiscal year 2020 2nd quarter financial results and business outlook on Tuesday, December 10th, 2019, at 4:30 p.m. (ET).听听 Aspen will issue a press release reporting results after the market closes on that day. The conference call can be accessed by dialing toll-free听(844) 452-6823听(U.S.) or听(731) 256-5216听(international), passcode 3788764. Subsequent to the call, a transcript of the audiocast will be available from the Company鈥檚 website at ir.aspen.edu. There will also be a 7 day dial-in replay which can be accessed by dialing toll-free (855) 859-2056 or (404) 537-3406 (international), passcode 3788764.

About 丝瓜视频.:

丝瓜视频. is an education technology holding company that leverages its infrastructure and expertise to allow its two universities, Aspen University and United States University, to deliver on the vision of making college affordable again. For more information, visit www.aspu.com.

Forward-Looking Statements:

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including the expected results for fiscal 2020 Q2 revenues, bottom line and cash flow from operations improvements, FNP growth and the future impact of bookings. The words 鈥渂elieve,鈥� 鈥渕ay,鈥� 鈥渆stimate,鈥� 鈥渃ontinue,鈥� 鈥渁nticipate,鈥� 鈥渋ntend,鈥� 鈥渟hould,鈥� 鈥減lan,鈥� 鈥渃ould,鈥� 鈥渢arget,鈥� 鈥減otential,鈥� 鈥渋s likely,鈥� 鈥渨ill,鈥� 鈥渆xpect鈥� and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include unanticipated adjustments to our financial statements, the continued demand of nursing students for the new programs, student attrition,听听 national and local economic factors and the future effect of USU鈥檚 new FNP payment plan. Other risks are included in our filings with the SEC including our Form 10-K for the year ended April 30, 2019. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

IR Contact:

Kim Rogers
Managing Director
Hayden IR
385-831-7337

A photo accompanying this announcement is available at

Released November 11, 2019