Aspen Group posted a GAAP net loss of $4.3 million, swinging from net income of $616,848 a year earlier.
Revenue fell 11% to $10.3 million year over year; GAAP gross margin rose 5.33 percentage points to 76%.
Non-GAAP adjusted EBITDA climbed 64% to $3.3 million, while operating cash flow increased to $1 million from $0.6 million.
Charges and operational updates
Net loss reflected $3.2 million in non-recurring non-cash charges, including $2.8 million of impairments tied to discontinued BSN pre-licensure operations.
Management resumed direct marketing spend in fiscal 2027, extended its JGB Capital debt facility by one year, and continued work on merging Aspen University into USU.
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