Strong Revenue and Enrollment Growth
Fourth quarter revenue of $17.9 million, up 40.8% year-over-year, and full fiscal year revenue climbed 39.5% to $64.2 million. Enrollment surged 41.8% to 3,101 students with a 26.9% rise in new student starts to 3,194.
High Graduate Success Rates
Achieved an 81.8% NCLEX pass rate in nursing with placement rates averaging 74.3% and 74.6% through accrediting agencies.
Strategic Expansion and Accreditations
Secured approvals for three new degree programs and two certificate programs. Achieved initial accreditation from the National League for Nursing Commission for Nursing Education Accreditation for RN to BSN track.
Financial and Operational Strength
Net income for Q4 reached $1.2 million, up 27.6%, with adjusted EBITDA increasing 31.3% to $11 million for the year. The balance sheet shows $20.3 million in cash with negligible debt.
Strategic Developments and Governance
Strengthened governance with new Board members and advisory board, along with ongoing strategic developments and acquisitions to expand reach.