Aspen Group, Inc. (ASPU) stock soared 6.48% in the after-hours trading session at the price of $5.42 despite no fundamental reason. The last published news on the company’s website was its first-quarter fiscal 2022 financial results. ASPU is an education technology holding company. It provides affordable college education to students by leveraging its infrastructure and expertise. 

ASPU First Quarter Fiscal 2022 Earnings Report 

On 14th September 2021, ASPU published its financial results for the first quarter ended 31st July 2021. CEO of Aspen Group, Michael Mathews, remarked that they had experienced record revenue growth of 28% year-over-year in the first quarter of fiscal 2022. This quarter continued to deliver exceptional performance in each business unit reaching Adjusted EBITDA above 20%. Their operating and profitability metrics have also achieved positive sequential improvement during this quarter. They have attributed a part of this performance to the company’s recently instated Aspen 2.0 strategy. The company anticipates a higher impact of profitability gains from Aspen 2.0 in their second half of Fiscal 2022, he added.  

Fiscal First Quarter 2022 Financial Summary 

ASPU reported total revenue growth of 28% to $19.4 million for fiscal first-quarter 2022 ended 31st July 2021. The reported revenue was $15.2 million for the fiscal first quarter of 2021. United States University (USU) contributed 32% and Aspen University’s (AU) BSN Pre-Licensure program contributed 23% of overall company revenue. ASPU reported an increment of 16% to $10.4 million in its GAAP gross profit for fiscal first-quarter 2022. GAAP gross profit was $9.0 million for fiscal first-quarter 2021. The gross margin was 54% for the fiscal first quarter ended 31st July 2021, compared to 59% for the fiscal first quarter of the previous year.  

The gross margin of Aspen University (AU) was 53% of revenue for the fiscal first quarter of 2022. Gross margin from United States University (USU) was 60% of USU revenue for the fiscal first quarter of 2022. ASPU reported a net loss ($0.9) million and a net loss per share of ($0.03) for the Fiscal first quarter of 2022. Net loss and net loss per share were ($0.9) million and ($0.04), respectively, for the Fiscal first quarter of 2021. The reported net loss margin was (4)% for the first quarter ended 31st July 2021, compared to a net income margin of 18% for Fiscal first quarter of the previous year.