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March 16 , 2021 ASPEN GROUP INC . Aspen Group Reports 33 % Revenue Growth for the Third Quarter of Fiscal Year 2021 BSN Pre - licensure and USU ( primarily MSN - FNP ) units deliver 51 % of consolidated revenue BSN Pre - licensure program has launched in three new metros in the past five months NEW YORK , March 16 , 2021 ( GLOBE NEWSWIRE ) -- Aspen Group , Inc. ( " Aspen Group " or " AGI " ) ( Nasdaq : ASPU ) , an education technology holding company , today announced financial results for its 2021 fiscal third quarter ended January 31 , 2021 . Third Quarter and Year to Date Fiscal Year 2021 Summary Results Revenue $ in millions , except per share data ( rounding differences may occur ) GAAP Gross Profit 1 GAAP Gross Margin ( % ) 1 Operating Income ( Loss ) Net Income ( Loss ) Earnings ( Loss ) per Share Adjusted Net Income ( Loss ) 2 Adjusted Earnings ( Loss ) per Share2 EBITDA² Adjusted EBITDA2 Three Months Ended January 31 , 2021 January 31 , 2020 Nine Months Ended January 31 , 2021 January 31 , 2020 $ 16.6 $ 12.5 $ 48.8 $ 35.0 $ 8.7 $ 7.1 $ 27.0 $ 20.5 52 % 57 % 55 % 59 % ( $ 2.8 ) ( $ 1.7 ) ( $ 5.9 ) ( $ 3.7 ) ( $ 2.8 ) ( $ 2.3 ) ( $ 8.1 ) ( $ 5.0 ) ( $ 0.11 ) ( $ 0.12 ) ( $ 0.35 ) ( $ 0.26 ) ( $ 2.1 ) ( $ 0.9 ) ( $ 3.2 ) ( $ 2.5 ) ( $ 0.09 ) ( $ 0.05 ) ( $ 0.14 ) ( $ 0.13 ) ( $ 2.2 ) ( $ 1.1 ) ( $ 4.5 ) ( $ 1.6 ) ( $ 0.9 ) $ 0.2 $ 0.6 $ 1.5 1 GAAP gross profit calculation includes marketing and promotional costs , instructional costs & services , and amortization expense . 2 See reconciliations of GAAP to Non - GAAP financial measures under " Non- GAAP - Financial Measures " below . " We delivered strong revenue growth of 33 % in the third quarter despite moderate headwinds from COVID - 19 combined with traditionally lower seasonality , " said Michael Mathews , Chairman and CEO of AGI . “ Our Pre - licensure BSN and USU ( primarily MSN- FNP ) units are our highest growth and highest LTV businesses and now make up 51 % of our consolidated revenue . We launched our BSN Pre - Licensure program in three new metros over the past five months . The start - up costs we face with each new campus including real estate leases , added instructional costs , and new marketing costs impacted our short - term profitability . However , the strong performance of the Phoenix metro BSN Pre- Licensure program , which delivered net income and EBITDA of $ 1.8 million for a 52 %