Aspen Group reports 3rd straight quarter of net income, $0.7M vs $(1.1) M in Q2 FY2025, revenue $11.2M, up 9% for USU. Positive cash flow $0.5M, G&A savings expected $1.5M Q3 FY2026.

Aspen Group, Inc. announced financial results for Q2 FY2026, ending Oct 31, 2025. The company reported a net income of $0.7 million, marking a significant improvement from a net loss of $(1.1) million in Q2 FY2025. Revenue stood at $11.2 million, a 9% increase year-over-year. Operating income was $1.0 million, and Adjusted EBITDA reached $2.5 million with a margin of 22%. This marks the fourth consecutive quarter of positive operating cash flow, reaching $0.5 million. Aspen Group mentioned disciplined cost controls and restructuring initiatives as factors contributing to their financial performance. The company's strategy aims at achieving profitability, positive cash flow, and boosting enrollments through strategic reinvestments in marketing. They anticipate additional quarterly savings by Q3 FY2026 and are committed to expanding student resources. Company-wide, new student enrollments decreased by 29%, with USU experiencing growth due to organic lead flow and increased revenue per student. Aspen University's revenue declined by 17%, attributed to lower post-licensure enrollments. The company's liquidity position was stable, with an ending unrestricted cash balance of $0.3 million. A recent restructuring plan eliminated positions to generate additional quarterly savings. Non-GAAP financial measures show improvements in EBITDA and Adjusted EBITDA compared to the previous year. Aspen Group remains focused on operational efficiency, maintaining a strong financial position, and sustainable growth strategies.