Aspen Group, Inc. (NASDAQ:ASPU) Q2 2020 Earnings Conference Call - Final Transcript

Dec 10, 2019 • 04:30 pm ET


Aspen Group, Inc. (NASDAQ:ASPU) Q2 2020 Earnings Conference Call - Final Transcript


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Good afternoon. Welcome to Aspen Group's Fiscal Year 2020 Second Quarter Earnings Call.

Please note that the company's remarks made during this call include answers to questions, include forward-looking statements, which are subject to various risks and uncertainties. These include statements relating to future student enrollments and bookings, operating metrics, revenue growth, expected G&A trends, generating cash from operations, creating free cash flow and our liquidity. Actual results may differ materially from results predicted and reported results should not be considered as an indication of future performance.

A discussion of risks and uncertainties related to Aspen's business is contained in its Form 10-K and the first quarter of 10-Q filed with the Securities and Exchange Commission and in the press release issued this afternoon. Aspen Group disclaims any obligation to update any forward-looking statement as a result of future developments. Also, I'd like to remind you that during the course of this conference call, the company will discuss EBITDA and adjusted EBITDA, which are non-GAAP financial measures in talking about the company's performance. Reconciliation to the most directly comparable GAAP financial measures are provided in the tables in the press release issued by the company today. There will be a transcript of this conference call available for one year at the company's website.

Please note that earnings slides are available on Aspen Group's website,, in the Presentations page under Company Info.

Now I will turn the call over to Michael Mathews, Aspen Group's Chairman and Chief Executive Officer.

Michael D. Mathews

Good afternoon. We had an outstanding second quarter. And before I begin to share those results, I'd like to recognize and thank all the employees of Aspen Group, who made these results possible. From the academic operations of both Aspen University and United States University to our enrollment centers to our software development team and all of our corporate staff, without the efforts and dedication of these fine people, we would not be able to report these results. Again, to all the employees listening into the call and who we'll be meeting with over the next few weeks, thank you. I will begin the call today by introducing our new CFO, Mr. Frank Cotroneo. I will then review the operating metrics that led to today's strong results, both on the top and bottom line. And I'll turn the call over to Frank to review our detailed financial results.

First, for those of you that saw our announcement last week, you know that Frank and I have a long-standing relationship, having served as a Director of my last company, Interclick, and of course, here at Aspen. Frank has held the role of Audit Committee Chair at both companies. And frankly, he is one of the most experienced finance professionals in this country, having previously served as CFO of MasterCard International, H&R Block and Acxiom as well as having served as COO and CFO of Netspend. Frank has extensive experience in financial process reengineering and system implementations, strategic planning, M&A, consumer finance, capital markets,