Company profile

Ticker
ZVO
Exchange
Website
CEO
Andrew S. Clark
Employees
Incorporated
Location
Fiscal year end
Former names
Bridgepoint Education Inc
SEC CIK
IRS number
593551629

ZVO stock data

(
)

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

28 Oct 20
19 Jan 21
31 Dec 21

News

Quarter (USD) Sep 20 Jun 20 Mar 20 Sep 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Zovio earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 113.26M 113.26M 113.26M 113.26M 113.26M 113.26M
Cash burn (monthly) (positive/no burn) 1.43M (positive/no burn) 1.04M (positive/no burn) (positive/no burn)
Cash used (since last report) n/a 5.25M n/a 3.82M n/a n/a
Cash remaining n/a 108.01M n/a 109.44M n/a n/a
Runway (months of cash) n/a 75.6 n/a 105.3 n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
15 Dec 20 Pernsteiner George P. Common Stock Buy Aquire P No 4.32 999 4.32K 34,047
8 Sep 20 Kiely John Common Stock Buy Aquire P No 4.2579 10,000 42.58K 18,855
31 Aug 20 Burkholder Steve Common Stock Payment of exercise Dispose F No 4.32 237 1.02K 458
31 Aug 20 Burkholder Steve Common Stock Option exercise Aquire M No 0 695 0 695
31 Aug 20 Burkholder Steve RSU Common Stock Option exercise Dispose M No 0 695 0 695
31 Aug 20 Horn Michael B Common Stock Option exercise Aquire M No 0 2,362 0 33,048
31 Aug 20 Horn Michael B RSU Common Stock Option exercise Dispose M No 0 2,362 0 2,362
31 Aug 20 Kiely John Common Stock Option exercise Aquire M No 0 8,855 0 8,855
31 Aug 20 Kiely John RSU Common Stock Option exercise Dispose M No 0 8,855 0 26,565
53.8% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 58 42 +38.1%
Opened positions 22 7 +214.3%
Closed positions 6 10 -40.0%
Increased positions 13 6 +116.7%
Reduced positions 13 16 -18.8%
13F shares
Current Prev Q Change
Total value 113.4M 55.05M +106.0%
Total shares 17.31M 17.99M -3.8%
Total puts 67.9K 0 NEW
Total calls 163.5K 15.6K +948.1%
Total put/call ratio 0.4
Largest owners
Shares Value Change
Nantahala Capital Management 2.85M $11.41M +7.5%
Heartland Advisors 2.62M $10.47M -7.9%
Prescott Group Capital Management, L.L.C. 2.08M $8.32M +4.2%
Renaissance Technologies 2M $8M +13.9%
Dimensional Fund Advisors 1.94M $7.76M -3.4%
Vanguard 1.27M $5.09M +0.6%
BLK Blackrock 461.73K $1.85M -11.1%
Pacific Ridge Capital Partners 400.41K $1.6M -38.5%
Essex Investment Management 358.51K $1.43M NEW
Connor, Clark & Lunn Investment Management 346.34K $1.39M -15.9%
Largest transactions
Shares Bought/sold Change
Schroder Investment Management 0 -1.79M EXIT
D. E. Shaw & Co. 158.14K -519.02K -76.6%
Essex Investment Management 358.51K +358.51K NEW
Arrowstreet Capital, Limited Partnership 328.84K +328.84K NEW
Parametric Portfolio Associates 301.85K +301.85K NEW
Pacific Ridge Capital Partners 400.41K -251.15K -38.5%
Renaissance Technologies 2M +243.76K +13.9%
Heartland Advisors 2.62M -223.7K -7.9%
Nantahala Capital Management 2.85M +200K +7.5%
Hillsdale Investment Management 179.93K +179.93K NEW

Financial report summary

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Competition
Aspen
Risks
  • Risks Related to the Proposed Ashford Transactions and Proposed Change in the Structure of Our Operations
  • Failure to complete the asset purchase agreement with the Arizona Board of Regents, for and on behalf of the University of Arizona and the University of Arizona Global Campus, which is subject to conditions and also may not close due to uncertainties, may prevent us from executing on our strategic plans, and could materially and adversely impact us.
  • The Conversion Transaction is subject to the receipt of regulatory approvals that if not obtained, could delay or prevent its consummation, and an excessive delay in finalizing the Conversion Transaction could disrupt our business during its pendency.
  • If the Department does not approve the change of control related to the Conversion Transaction and recertify Ashford to continue participating in the Title IV programs, its students would lose their access to Title IV program funds, or there are significant limitations as a condition of Ashford’s continued participation in the Title IV programs, as a service provider to Ashford, our business, financial condition and results of operations, as well as our stock price, could be materially and adversely affected.
  • The separation of Ashford via the Conversion Transaction, may not be completed on the terms or timeline currently contemplated and failure to complete, or any delay of, the separation of Ashford from Zovio Inc may negatively impact our planned business, financial condition or results of operations.
  • Risks Related to the Extensive Regulation of Our Business
  • The failure of Ashford to demonstrate financial responsibility may result in a loss of eligibility to participate in Title IV programs or require the posting of a letter of credit in order to maintain eligibility to participate in Title IV programs.
  • Risks Related to Our Business
  • We may require additional financing in the future and if such financing is not available on terms acceptable to us, it could adversely affect our ability to grow.
  • We may be susceptible to a number of political, economic, and geographic risks that could harm our business. Significant disruptions in the global economic environment, as a result of a pandemic such as COVID-19, may cause a decrease in our enrollment and adversely affect our business and financial results.
  • The recent coronavirus outbreak has been declared a pandemic by the World Health Organization, has spread to the United States and many other parts of the world and will adversely affect our business operations, financial results, and employee availability, and may cause a decrease in our enrollment and a drop in student retention.
Management Discussion
  • Revenue. Our revenue for the three months ended September 30, 2020 and 2019, was $102.2 million and $104.3 million, respectively, a decrease of $2.1 million, or 2.0%. The decrease between periods was primarily due to a decrease of 7.6% in average weekly enrollment from 36,590 students for the three month period ended September 30, 2019 to 33,823 students for the three month period ended September 30, 2020. As a result of the decrease in enrollments, tuition revenue decreased by $1.6 million, net revenue generated from course digital materials decreased by $0.3 million, and technology fee revenue decreased by $0.1 million. The decrease in revenue between periods was also due to higher scholarships for the period, an increase of $1.5 million. The overall revenue decrease was partially offset by an increase in net revenue from subsidiaries of $1.5 million, as well as a tuition and fees increase at Ashford, effective January 2020.
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New words: accreditor, energized, led, NaN, NaNne, notably, steady, thousand, voluntarily
Removed: Alonzo, amend, appointed, David, discovery, dismissing, Division, entry, group, independent, irrevocable, ISAA, leave, lifted, LOC, Martinez, operated, postponement, reassessment, refused, representing, resubmit, seeking, settlement, stay, stayed, weakening