Aspen group reports revenue of $13.8 million for second quarter fiscal 2024

Q2 fiscal 2024 highlights gross margin increased by 300 basis points to 63% operating loss improved 66% to ($0.5) million from ($1.5) million narrowed net loss to ($1.6) million from ($2.3) million 4th consecutive quarter of positive ebitda; generated positive cash from operations agi total enrollment grew by 5% yoy and 34% sequentially; usu enrollment rose by 8% yoy new york, jan. 18, 2024 (globe newswire) -- aspen group, inc. (otcqb: aspu) (“agi” or the "company"), an education technology holding company, today announced financial results for its second quarter fiscal year 2024 ended october 31, 2023. second quarter fiscal year 2024 summary results   three months ended october 31,   six months ended october 31, $ in millions, except per share data   2023       2022       2023       2022   revenue $ 13.8     $ 17.1     $ 28.5     $ 36.0   gross profit1 $ 8.7     $ 10.2     $ 18.5     $ 18.4   gross margin (%)1   63 %     60 %     65 %     51 % operating income (loss) $ (0.5 )   $ (1.5 )   $ (0.2 )   $ (4.7 ) net income (loss) $ (1.6 )   $ (2.3 )   $ (2.3 )   $ (6.0 ) earnings (loss) per share $ (0.06 )   $ (0.09 )   $ (0.09 )   $ (0.24 ) ebitda2 $ 0.4     $ (0.6 )   $ 1.8     $ (2.8 ) adjusted ebitda2 $ 1.1     $ 0.5     $ 3.0     $ (0.6 ) _______________________                                                                                          1 gaap gross profit calculation includes marketing and promotional costs, instructional costs and services, and amortization expense of $0.5 million and $0.5 million, and $1.0 million and $1.0 million for the three and six months ended october 31, 2023 and 2022, respectively.
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