Aspen Group, Inc. operates as an education technology holding company and the parent of Aspen University and United States University. Company news centers on post-graduate and nursing education programs, including post-licensure degrees such as the MSN-Family Nurse Practitioner, along with tuition affordability, monthly payment options, enrollment trends, and marketing through its lead-generation and CRM platform.
Recurring updates also cover operating and financial results by subsidiary, cash-flow performance, cost controls, balance-sheet actions such as senior secured debenture amendments, leadership changes, conference presentations, and academic or community partnerships involving United States University.
Aspen Group (ASPU) reported net income of $0.7 million for its fiscal first quarter ended July 31, 2026, improving year over year. Net income rose from $0.4 million, while basic and diluted earnings remained $0.01 per share. Revenue fell 10% year over year to $10.3 million but held steady for a third consecutive quarter. United States University revenue increased 3% year over year; Aspen University revenue declined 30% amid discontinued new enrollments associated with their pending merger.
Gross margin increased to 76% from 73%. Adjusted EBITDA, a supplemental profit measure excluding specified costs, rose 21% to $2.3 million. Operating cash flow of $0.7 million supported resumed marketing. Unrestricted cash was $1.1 million at quarter-end and $0.6 million on October 9. Debt refinancing remains unfinished. The company expects USU enrollment growth in the second half of fiscal 2027, supported by increased marketing investment.
Aspen Group (ASPU) appointed Dr. Jennifer Billingsley president of United States University and Aspen University, effective immediately. She succeeds Dr. Scott Burrus, who resigned as president of both universities effective September 23, 2026.
Billingsley was serving as provost and chief academic officer of both universities, overseeing academic programs, student services, accreditation and faculty development. She has been on Aspen Group’s leadership team for more than eight years and has more than 20 years of experience in academic leadership, higher education and clinical practice. Aspen University’s merger into United States University is pending; no completion date was given.
Aspen Group (OTCQB: ASPU) reported fiscal Q4 2026 revenue of $10.3 million, down 11% year over year, with gross margin expanding to 76%. Full‑year 2026 revenue was $43.3 million versus $45.3 million, and gross margin rose to 75% from 69%.
The company posted a Q4 net loss of $(4.3) million, including $3.2 million in non‑recurring non‑cash charges, leading to a full‑year net loss of $(1.8) million. Adjusted EBITDA reached a record $3.3 million in Q4 and $10.6 million for the year, up from $2.0 million and $5.7 million, respectively. Aspen Group generated $1.0 million of operating cash flow in Q4 and $2.9 million for the year, its sixth consecutive quarter of positive operating cash flow, while restructuring actions eliminated about 75 positions and are expected to save roughly $1.5 million per quarter.
Aspen Group (OTCQB: ASPU) entered a Seventh Amendment to its 15% Senior Secured Debentures with JGB Management. The amendment extends the maturity date from May 13, 2026 to May 13, 2027 and reduces quarterly principal amortization payments from $500,000 to $350,000 starting July 31, 2026.
The next principal payment is due July 31, 2026. According to Aspen Group, the changes are intended to increase financial flexibility, support marketing investments, drive university enrollment growth, sustain operating cash flow, and strengthen the balance sheet.
Aspen Group (OTCQB: ASPU) will present at the 16th Annual LD Micro Invitational on May 19, 2026. CEO Matt LaVay and Executive Chairman Mike Mathews will deliver a company presentation at 9:30 a.m. PDT and hold one-on-one investor meetings the same day.
Aspen highlights its low-cost post‑graduate education model, two universities focused on nursing degrees including MSN‑FNP, a proprietary lead‑generation and CRM platform, and reported third‑quarter fiscal 2026 net income and operating cash flow of $1.0 million.
United States University (OTCQB: ASPU) announced a strategic alliance with PLAY MUSIC-ENJOY LIFE! and RADCO Music Group on March 23, 2026 to expand after-school music and wellness programs across California.
The program delivers small-group piano classes (up to 10 students), six after-school classes per week per school, collegiate-level Roland digital pianos, end-of-semester recitals, and an annual 1,000 Piano Scholarship Giveaway.
Aspen Group (OTCQB: ASPU) reported Q3 FY2026 results for the quarter ended January 31, 2026, delivering record net income of $1.4M and a 17% operating margin. Revenue was $10.4M, down 5% year-over-year, while Adjusted EBITDA rose to $3.0M (29% margin).
Q3 included positive operating cash flow of $1.0M, ending unrestricted cash of $0.6M, and an outstanding debt balance of approximately $5.8M maturing May 2026; management is exploring refinancing options and completed restructurings to cut costs.
Aspen Group (OTCQB: ASPU) announced a leadership transition effective March 16, 2026: Matt LaVay, previously CFO, is appointed Chief Executive Officer and will join the Board. Michael Mathews, CEO since 2012, will transition to Executive Chairman and remain fully engaged on a full-time basis.
The change is described as a planned succession to support the company’s next growth phase. LaVay has served as CFO since June 2021 and is credited with leading restructurings that reduced operating expenses and helped guide Aspen to profitability.
Aspen Group (OTCQB: ASPU) reported third consecutive quarterly net income of $0.7M for Q2 FY2026 (period ended Oct 31, 2025) on revenue of $11.2M, down 2% year-over-year.
Key margins improved: GAAP gross margin 75%, operating income $1.0M, Adjusted EBITDA $2.5M with a 22% margin, and positive operating cash flow of $0.5M (fourth straight quarter).
Operational highlights include a 9% revenue increase at USU, a 17% revenue decline at AU, a 29% drop in new student enrollments company-wide, and ending unrestricted cash of $0.3M (was $0.4M as of Dec 12, 2025).
Aspen Group (OTCQB: ASPU) reported Q1 Fiscal 2026 results for the quarter ended July 31, 2025: revenue $11.4M (up 1% YoY), net income $0.4M (second consecutive quarter of net income), Adjusted EBITDA $1.9M vs $0.4M prior year, and positive operating cash flow $0.4M (third consecutive quarter).
GAAP gross margin rose to 73% from 66%. The company implemented a restructuring expected to deliver ~$1.5M of quarterly G&A savings beginning Q3 FY2026. Ending unrestricted cash was $0.5M (was $0.6M on Oct 24, 2025). Student body and Aspen University enrollments declined year-over-year, while USU revenue grew 9%.