Zovio Posts 25% Decline In Q2 Revenue; Shares Slide

by Shivani Kumaresan, Benzinga Staff Writer

August 1, 2022 10:39 AM | 1 min read | Make a Comment

Zovio Inc ZVO reported a second-quarter FY22 sales decline of 25.7% year-on-year, to $51.38 million.
Total costs and expenses for the quarter fell 29.1% Y/Y to $52.2 million.
The operating loss for the quarter narrowed to $(0.8)million versus a loss of $(4.5) million last year.
The company held $26.8 million in cash and equivalents as of June 30, 2022.
Adjusted EPS loss was $(0.36) versus $(0.02) the previous year.
Adjusted EBITDA loss was $(7.1) million versus an adjusted EBITDA of $0.5 million a year ago.
Price Action: ZVO shares are trading lower by 17.48% at $0.85 on the last check Monday.