Aspen Group cuts revenue growth forecast to 9% after suspending Phoenix BSN pre-licensure cohorts

ASPEN GROUP, INC.

Net loss of $3.7M for first six months of FY2022 vs 17% loss margin in prior-year period.
Corporate expenses approximately $20M per annum; forecasts net loss for FY2023 then breakeven.
Revenue growth plan cut from 17% ($13M) to 9% ($7M) due to voluntary suspension of new Phoenix cohorts.
Suspension follows guidance from Arizona State Board of Nursing on January 28, 2022.

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