ZVO Zovio, Inc.
Zovio, Inc. provides postsecondary education services. Through Ashford University and University of the RockiesSM, it offers online programs such as contemporary college experience. Its services also include mobile and other learning platform for students. The company was founded by Wayne Clugston and Andrew S. Clark in May 1999 and is headquartered in San Diego, CA.
Company profile
Ticker
ZVO
Exchange
Website
CEO
Andrew S. Clark
Employees
Incorporated in
Location
Fiscal year end
Sector
Industry (SEC)
Former names
Bridgepoint Education Inc
SEC CIK
Corporate docs
IRS number
593551629
ZVO stock data
()
Investment data
Securities sold
Number of investors
Calendar
30 Oct 19
7 Dec 19
31 Dec 19
News
Company financial data Financial data
| Quarter (USD) | Sep 19 | Jun 19 | Mar 19 | Dec 18 | |
|---|---|---|---|---|---|
| Revenue | 104.25M | 107.5M | 109.76M | 94.71M | |
| Net income | -7.56M | -17.6M | -6.64M | -13.42M | |
| Diluted EPS | -0.25 | -0.58 | -0.24 | -0.49 | |
| Net profit margin | -7.25% | -16.37% | -6.05% | -14.16% | |
| Operating income | -7.85M | -20.33M | -7.2M | -13.6M | |
| Net change in cash | -25.47M | -37.22M | -24.47M | 3.22M | |
| Cash on hand | 79.15M | 104.62M | 141.84M | 166.31M | |
| Cost of revenue | 51.41M | 55.09M | 51.94M | 51.58M |
| Annual (USD) | Dec 18 | Dec 17 | Dec 16 | Dec 15 | |
|---|---|---|---|---|---|
| Revenue | 443.37M | 475.11M | 523.52M | 561.73M | |
| Net income | 4.64M | 9.11M | -33.05M | -70.45M | |
| Diluted EPS | 0.17 | 0.28 | -0.71 | -1.54 | |
| Net profit margin | 1.05% | 1.92% | -6.31% | -12.54% | |
| Operating income | -3.99M | 6.43M | -43.23M | -42.3M | |
| Net change in cash | -18.79M | -122.7M | 25.66M | 75.14M | |
| Cash on hand | 166.31M | 185.1M | 307.8M | 282.15M | |
| Cost of revenue | 217.7M | 235.39M | 263.34M | 281.5M |
Financial data from Zovio earnings reports
Financial report summary
?Competition
AspenRisks
- Our financial results may suffer if we fail to successfully implement our restructuring plans and/or cost reduction initiatives aimed at right-sizing our operations to match revenue streams.
- As we transition to become an education technology services company, the separation of Ashford University, either by sale to another university or 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 University from Zovio Inc may negatively impact our planned business, financial condition or results of operations.
Management Discussion
- Revenue. Our revenue for the three months ended September 30, 2019 and 2018, was $104.3 million and $112.8 million, respectively, representing a decrease of $8.5 million, or 7.6%. The decrease between periods was primarily due to a decrease of 6.4% in average weekly enrollment from 39,107 students for the three month period ended September 30, 2018 to 36,590 students for the three month period ended September 30, 2019. As a result of the decrease in enrollments, tuition revenue decreased by approximately $5.7 million. The decrease in revenue between periods was also due to higher scholarships for the period, an increase of $5.5 million. The overall revenue decrease was partially offset by net revenue from subsidiaries of $3.6 million, as well as an increase in net revenue generated from course digital materials of approximately $1.2 million, and a tuition increase, effective as of January 1, 2019.
Content analysis
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H.S. junior Avg
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New words:
abbreviated, aimed, allege, beneficial, composite, confirmed, conserve, coverage, deterioration, devoted, Disposal, disposition, equivalent, exploring, frequently, impose, inherently, irrevocable, lead, lesser, LOC, match, morale, motivation, outplacement, perception, recalculating, recoverable, relocated, relocating, relocation, sale, score, Step, suffer, sustained, timeline, unanticipated, undiscounted, version
Removed:
Codification, correct, dismissal, draft, effected, found, Hackett, hosted, Larson, outlining, Reardon, recommended, restated, stipulation, unaudited, visiting, Zamir
Financial reports
10-Q
2019 Q3
Quarterly report
30 Oct 19
10-Q
2019 Q2
Quarterly report
7 Aug 19
10-Q
2019 Q1
Quarterly report
9 May 19
10-K
2018 FY
Annual report
12 Mar 19
10-Q/A
2018 Q3
Quarterly report (amended)
12 Mar 19
10-Q
2018 Q3
Quarterly report
8 Nov 18
10-Q
2018 Q2
Quarterly report
25 Jul 18
10-Q
2018 Q1
Quarterly report
1 May 18
10-K
2017 FY
Annual report
21 Feb 18
10-Q
2017 Q3
Quarterly report
25 Oct 17
Current reports
8-K
Zovio Inc Reports Third Quarter 2019 Results
30 Oct 19
8-K
Other Events
7 Oct 19
8-K
Departure of Directors or Certain Officers
23 Aug 19
8-K
Zovio Inc Reports Second Quarter 2019 Results
7 Aug 19
8-K
Departure of Directors or Certain Officers
19 Jul 19
8-K
Zovio Announces Approval by WSCUC for Ashford University
15 Jul 19
8-K
Departure of Directors or Certain Officers
1 Jul 19
8-K
Submission of Matters to a Vote of Security Holders
30 May 19
8-K
Zovio Inc Reports First Quarter 2019 Results
9 May 19
8-K
Departure of Directors or Certain Officers
19 Apr 19
Registration and prospectus
S-8
Registration of securities for employees
1 May 19
D
$1.86M in equity, sold $1.86M, 5 investors
12 Apr 19
8-A12B
Registration of securities on exchange
12 Apr 19
25
Voluntary exchange delisting
12 Apr 19
D
$28.68M in equity, sold $14.93M, 14 investors
8 Apr 19
S-8
Registration of securities for employees
26 Mar 19
S-8
Registration of securities for employees
10 Jan 18
424B7
Prospectus with selling stockholder info
20 Nov 17
424B3
Prospectus supplement
16 Nov 17
S-3
Shelf registration
6 Nov 17
Proxies
DEFA14A
Additional proxy soliciting materials
19 Apr 19
DEF 14A
Definitive proxy
19 Apr 19
DEF 14A
Definitive proxy
27 Mar 18
DEFA14A
Additional proxy soliciting materials
27 Mar 18
DEF 14A
Definitive proxy
29 Mar 17
DEFA14A
Additional proxy soliciting materials
29 Mar 17
DEFA14A
Additional proxy soliciting materials
6 Apr 16
DEF 14A
Definitive proxy
6 Apr 16
DEF 14A
Definitive proxy
31 Mar 15
DEFA14A
Additional proxy soliciting materials
31 Mar 15
Other
IRAN
Disclosure regarding Iran Threat Reduction and Syria Human Rights Act
21 Feb 18
EFFECT
Notice of effectiveness
13 Nov 17
CORRESP
Correspondence with SEC
7 Nov 17
UPLOAD
Letter from SEC
7 Nov 17
IRAN
Disclosure regarding Iran Threat Reduction and Syria Human Rights Act
25 Oct 17
CT ORDER
Confidential treatment order
18 Aug 17
IRAN
Disclosure regarding Iran Threat Reduction and Syria Human Rights Act
26 Jul 17
EFFECT
Notice of effectiveness
27 Jun 17
CORRESP
Correspondence with SEC
23 Jun 17
UPLOAD
Letter from SEC
23 Jun 17
Ownership
SC 13D/A
Zovio Inc
4 Dec 19
SC 13D
Zovio Inc
28 Oct 19
SC 13D
Zovio Inc
15 Aug 19
SC 13G
Bridgepoint Education Inc
14 Feb 19
SC 13G/A
Bridgepoint Education Inc
14 Feb 19
SC 13G
Bridgepoint Education Inc
12 Feb 19
SC 13G/A
Bridgepoint Education Inc
8 Feb 19
SC 13G/A
Bridgepoint Education Inc
7 Feb 19
SC 13G/A
Bridgepoint Education Inc
18 Jan 19
SC 13G/A
Bridgepoint Education Inc
4 Dec 18