猫咪视频

猫咪视频 Group, Inc. Announces Third Quarter Fiscal Year 2021 Quarterly Enrollments Increased by 22% to 2,129 New Students; Bookings Grew by 24% to $33.0 Million

AGI鈥檚 Total Active Student Body Increased by 2,374 Students to 13,407 or 22%; Nursing Active Student Body Grew by 26% to 11,636 Students Representing 87% of Total Student Body

Company to Report Third Quarter Fiscal Year 2021 Results on March 16, 2021

NEW YORK, Feb. 22, 2021 (GLOBE NEWSWIRE) -- 猫咪视频 Group, Inc. (鈥溍ㄟ涫悠� Group鈥� or 鈥淎GI鈥�) (Nasdaq: ASPU), an education technology holding company, today announced that for the third-quarter fiscal year 2021, ending January 31, 2021, student enrollments increased by 22% year-over-year to 2,129. 猫咪视频 Group鈥檚 rising enrollment in higher LTV nursing licensure degree programs was the primary revenue and bookings growth driver. Quarterly bookings increased 24% year-over-year to $33.0 million. Total nursing students comprised 87% of the active student body, up from 84% in the prior-year period.

"猫咪视频 Group鈥檚 increased enrollment in high LTV nursing programs delivered bookings growth of 24%, despite the dramatic acceleration in COVID-19 cases during our third quarter,鈥� said Chairman & CEO Michael Mathews. "Our proprietary EdTech platform continued to deliver industry-leading marketing metrics. This key technology differentiator in the for-profit education sector enables our low-cost CAC model, which allows us to pass these savings onto our students. The result is a win-win that drives growth and improves our student outcomes.鈥�

鈥淥ur two largest enrollment segments, 猫咪视频's Nursing + Other post-licensure programs and USU's MSN-FNP program, target registered nurses looking to earn an advanced nursing degree. During our third quarter, infection rates of COVID-19 skyrocketed, filling emergency rooms and hospital beds and increasing registered nurses' workloads. Despite the short term headwinds, we delivered strong enrollment growth in every unit of the Company. 猫咪视频's Pre-Licensure BSN program also experienced strong growth from our recently launched campuses in Tampa and Austin given the tailwind of millennials looking for better paying, secure jobs. As previously disclosed, the Company intentionally slowed year-over-year enrollment growth at our Phoenix pre-licensure campuses. These campuses currently have a full pipeline of first-year online pre-requisite students. This decision moderated pre-licensure growth in the quarter to 15%. Longer-term, 猫咪视频 plans to open eight new campuses throughout the Southern United States over the next four years to deliver continued growth and shareholder value,鈥� stated Mathews.

In the third quarter, 猫咪视频 University generated 1,593 new student enrollments, up 16% year-over-year, attributable to strength in its Doctoral and Nursing + Other units. United States University (鈥淯SU鈥�) delivered 536 new student enrollments, a 43% increase year-over-year, primarily from MSN-Family Nurse Practitioner (鈥淔NP鈥�) enrollments. The FNP enrollment growth is especially notable, given the demands on nursing professionals with COVID-19 infection rates accelerating throughout the quarter.

Table 1 reflects new student enrollments for the past five quarters:

The third quarter Marketing Efficiency Ratio (MER) for both universities, defined as revenue-per-enrollment (LTV) divided by cost-per-enrollment (CAC), remained above 11X, as shown below in Table 2:

¹Based on 6-month rolling weighted average CAC for each university鈥檚 enrollments
²Lifetime Value (LTV) of a new student enrollment
³Weighted average LTV for all 猫咪视频 University enrollments in the quarter
⁴LTV for USU鈥檚 MSN-FNP Program

Compared to the previous year, AGI鈥檚 weighted average cost of enrollment (CAC) increased 38%, from $989 to $1,365. Table 3 below shows the breakdown by university and the weighted average.

¹Based on 6-month rolling average

Table 4 below shows, on a year-over-year basis, bookings increased 24% to $33.0 million. The increase in bookings led to a company-wide average revenue per enrollment (ARPU) increase by 2% to $15,513, reflecting the shift in the revenue mix toward higher LTV nursing licensure degree programs, partially offset by the planned flattening of first-year online pre-requisite student enrollments at the Phoenix BSN pre-licensure campuses.

AGI鈥檚 overall active student body (includes both 猫咪视频 University and USU) grew 22% year-over-year from 11,033 to 13,407. 猫咪视频 University鈥檚 total active degree-seeking student body grew 17% year-over-year from 9,274 to 10,863. On a year-over-year basis, USU鈥檚 total active student body grew from 1,759 to 2,544 or 45%. The chart below shows the student body growth over the past five quarters.

Fiscal 2021 Third Quarter Earnings Conference Call Details:

猫咪视频 Group will host a conference call to discuss its third quarter fiscal year 2021 financial results and business outlook on Tuesday, March 16th, 2021, at 4:30 p.m. (ET).听猫咪视频 Group 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 (U.S.) or听(731) 256-5216 (international), passcode 9391007. 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 seven day dial-in replay which can be accessed by dialing toll-free (855) 859-2056 or (404) 537-3406 (international), passcode 9391007.

About 猫咪视频 Group, Inc.:

猫咪视频 Group, Inc. is an education technology holding company that leverages its infrastructure and expertise to allow its two universities, 猫咪视频 University and United States University, to deliver on the vision of making college affordable again. For more information, visit .听

Forward-Looking Statements:

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our plans with respect to new campus openings, and the future impact of bookings and LTV. 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 the continued demand of nursing students for the new programs, student attrition, national and local economic factors including the substantial impact of the COVID-19 pandemic on the economy, and the competitive impact from the trend of public non-profit universities offering online education. Other risks are included in our filings with the SEC including our Form 10-K for the year ended April 30, 2020 and the prospectus supplement dated August 31, 2020. 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.

Investor Relations Contact:

Kimberly Rogers
Hayden IR
(385) 831-7337

A photo accompanying this announcement is available at

Released February 22, 2021