Aspen Group, Inc. (ASPU)

Aspen Group Balance Sheet

Financials in millions USD. Fiscal year is May - April.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Oct 31, 2025	Apr 30, 2025	Apr 30, 2024	Apr 30, 2023	Apr 30, 2022	Apr 30, 2021
Cash & Equivalents	0.26	0.74	1.53	1.35	6.48	12.47
Cash & Short-Term Investments	0.26	0.74	1.53	1.35	6.48	12.47
Cash Growth	-68.36%	-51.88%	13.13%	-79.12%	-48.02%	-13.09%
Accounts Receivable	16.71	17.17	19.69	22.12	24.36	16.72
Receivables	16.71	17.17	19.69	22.12	24.36	16.72
Prepaid Expenses	0.34	0.44	0.5	0.61	1.36	1.08
Restricted Cash	0.34	0.34	1.09	4.37	6.43	1.19
Other Current Assets	0.84	0.52	1.79	3.07	0.75	0.07
Total Current Assets	18.49	19.2	24.59	31.52	39.38	31.54
Property, Plant & Equipment	12.2	10.74	15.97	21.22	21.03	20.33
Goodwill	5.01	5.01	5.01	5.01	5.01	5.01
Other Intangible Assets	8.13	11.3	12.12	12.77	13.29	13.14
Long-Term Accounts Receivable	21.9	19.85	17.53	13	11.41	10.3
Long-Term Deferred Charges	-	-	-	0.07	0.37	0.02
Other Long-Term Assets	0.64	0.66	0.72	0.21	0.58	0.48
Total Assets	66.38	66.77	75.95	83.81	91.07	80.81
Accounts Payable	3.32	2.06	2.31	2.25	1.89	1.47
Accrued Expenses	2.74	2.48	2.88	2.36	2.82	2.04
Current Portion of Long-Term Debt	6.28	2	2.28	5	-	-
Current Portion of Leases	3.06	2.81	2.61	2.5	2.04	2.03
Current Unearned Revenue	2.37	2.54	4.88	2.89	5.89	6.83
Other Current Liabilities	4.23	4.54	4.68	5.71	4.19	3.06
Total Current Liabilities	22	16.42	19.64	20.71	16.84	15.42
Long-Term Debt	-	5.22	6.78	10	14.88	-
Long-Term Leases	10.75	12.4	15	17.55	16.81	16.3
Other Long-Term Liabilities	1.5	1.75	2.25	-	-	-
Total Liabilities	34.25	35.8	43.67	48.26	48.52	31.72
Common Stock	0.03	0.03	0.03	0.03	0.03	0.03
Additional Paid-In Capital	122.25	122.15	121.92	113.43	112.08	109.04
Retained Earnings	-90.16	-91.22	-89.67	-76.09	-67.74	-58.16
Treasury Stock	-	-	-	-1.82	-1.82	-1.82
Total Common Equity	32.13	30.97	32.28	35.55	42.55	49.09
Shareholders' Equity	32.13	30.97	32.28	35.55	42.55	49.09
Total Liabilities & Equity	66.38	66.77	75.95	83.81	91.07	80.81
Total Debt	20.09	22.43	26.67	35.05	33.72	18.33
Net Cash (Debt)	-19.83	-21.7	-25.14	-33.7	-27.24	-5.86
Net Cash Per Share	-0.58	-0.80	-0.98	-1.33	-1.09	-0.25
Filing Date Shares Outstanding	30.06	29.08	25.41	25.44	25.2	24.91
Total Common Shares Outstanding	30.06	28.39	25.41	25.44	25.2	24.91
Working Capital	-3.5	2.78	4.95	10.81	22.55	16.12
Book Value Per Share	1.07	1.09	1.27	1.40	1.69	1.97
Tangible Book Value	18.99	14.65	15.15	17.77	24.25	30.94
Tangible Book Value Per Share	0.63	0.52	0.60	0.70	0.96	1.24
Machinery	3.4	3.4	3.39	4.58	4.43	3.08
Construction In Progress	-	-	-	-	0	0.25
Leasehold Improvements	5.62	5.62	6.55	8.06	7.18	5.73

Updated Oct 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.