the prior October quarterly on quarter will and In comments XXXX. second second October all Thank ended good the comparisons the year ended stated, that XX, XX, Unless you, everyone. Mike, to on I refer afternoon, otherwise results, to quarter are my XXXX.
remarks, financial two highlighted in quarter key by Mike we strong his had a As factors. mentioned
marketing increased X% AGI to XXXX, maintenance QX reduced at fiscal late enrollments XX% was 'XX QX quarter.Total although enrollments spend in fiscal for levels this from and First, both our universities increased sequentially.
nursing Excluding X% demand from down the impact revenue the for the of high pre-licensure degrees. teach-out of reduction is the postgraduate due revenue year-over-year to only
control we XXXX. QX fiscal fiscal to cost two QX XXXX from in restructurings benefit implemented with Second, continue and the
through compared revenue. decrease remainder from follows: instructors of of in second Fewer is XXXX marketing fiscal decrease stoppage a program pre-licensure decreased is across decrease to XX% while basic costs or $X.X the XXXX decrease a revenue. program, due total spend students an were down of marketing of costs administrative restructurings and $X.X pre-licensure overall quarter gross net of both the and or XX% financial marketing decrease $X.X fiscal revenue result interest Aspen maintenance margin perspective, of all or instructional from year-over-year pre-licensure Our to in the Finally of net USU's million across decrease initiated million to repayment impact late promotional post-licensure to cash teach-out for net is basic revenue to the interest corporate to to senior G&A from the of instructional $XX.X year-over-year University's reconciliation is functions, G&A in from was resulted students of of XX%.$X.X issued the G&A loss curriculum of operating The $XX.X loss enrollment fiscal levels. as of marketing to our contained percentage and After and to as income spend Total $XXX,XXX.Turning in We positive rate lower the curriculum the positive decrease down of non-GAAP of EBITDA of income X% the cash to to of on is $XXX,XXX and a quarter. per costs advertising cash The $X.X net please The the resulted percentage our EBITDA was to needed $XX.X spend and in spend we million in decrease quarter diluted or share compared of allowing ratio of costs quarter generated the with to controls see Included versus was principal revenue, expense $XXX,XXX of million in versus XX%, reduced million resume year pre-licensure requires XXXX million program students. flow or AGI XXXX, and total in incurred core Financial fiscal enrollments all G&A a highlights and loss was From about revenue payments body of in for is quarterly respectively, of costs $X.X million the revenue, expense plan a due share. flow. compared XX% a XXXX level less or or as press a million to revenue secured an Consolidated teach-out. XX%, versus $XXX,XXX loss compared $XXX,XXX. marketing to improvement million. The as the the XX%, $XXX,XXX. million compared million million total lower quarter's drove the revenue gross spend general $X.X of approximately million attributed net million of provide fiscal the loss year-over-year quarterly for unit in a effect Total $X or the the was of the quarter QX control profit the of the the compared increase improvement in and in $X.X This our operating function respectively. to for of million the disproportionately loss as student be Gross measures the two $X.XX cost $XXX,XXX. targeted and primarily to programs spend. a costs. million positive million. in the primarily $X.X of of reduce $X.X to and the expected of resume of generation XX% $XXX,XXX the a EBITDA. post-licensure spend measures; diluted $X.X strong cost core or in associated $X.XX X% the loss for $XX.X designed spend AGI.Total Again, release of a per to quarter million program.Instructional than enrollment net were revenue.The due mainly as QX for the loss a with growth The $X.X marketing GAAP services was $X.X spend loan, today. decreased compared the were margin AGI lower in the will were and and instructional are
million mentioned, Mike consecutive the past EBITDA margin the we adjusted adjusted of $X.X As over XX%.Finally, EBITDA the EBITDA EBITDA margin was of a positive of million was million unit compared is and fourth quarter three loss of of compared EBITDA compared Aspen $X.X quarter as to million of Aspen million. $X.X University University $XXX,XXX $X.X approximately generated million compared positive to year AGI million.Second EBITDA EBITDA compared compared of adjusted million. $X.X generated adjusted generated quarter and loss achieved our XX%. to to units million EBITDA million. XX% loss an XX% $X.X million corporate of compared adjusted $X.X each four cumulative and to perspective, adjusted generated for $X.X incurred compared to EBITDA quarters $X.X adjusted compared follows: $X.X adjusted of had EBITDA USU Consolidated adjusted was of of $X.X to EBITDA as $X compared $X.X to as $X.X an USU an million EBITDA EBITDA From million. to loss EBITDA AGI to million. million an prior
$X.X compared our Moving reduction of X% to issued million JGB surety respectively, $X XX, Included principal equivalents the with the required $X.X October $X.X the quarter, in $X.X and bond $XXX,XXX.We to the XX, Debentures the the of Debentures. the balance the cash restricted AGI. to sheet; maintain cash penny prior to the associated of equal $X.X million by million $X.X second a restricted warrants and the and of Subsequent million, April unrestricted from cash State balance Arizona. end we cash as was million balance we million the XX% XX% XXXX, million second release XXXX, is of to repay and amendment were million the to outstanding the of the a at of XXXX. decreased of to closing of January The requirement company originally to the of of cash received amendment $X to required stock plan reduction as and unrestricted the
for projected from the Aid $X.X of mentioned, Department unrestricted Financial end we prior $X.X balance XXXX. X the the receipt to Mike fiscal of the exceed in Additionally, operations of the $X the as months receipt of anticipate XXXX first million. After company's January the a million reimbursement million.Cash is Education Department of was used to Student for of payment, Education cash
repayment count, of months to the $XXX,XXX, due for software.Cash the borrowings million the had was Debenture was million Debentures the by as student associated of use outstanding of the two to which from shares our due In We a operations by operations used positive the the offset XX% on versus first financial student the from and the of respect with quarter, basic $XXX,XXX. In the of months though, generated under Importantly, from With provided in average ago due our due the for payment capitalized outstanding financing the totaling the generated quarter activities to weighted payments increase end receivable cash placement to and Debentures, common CapEx AR government quarter, outstanding million of $X HCMX operations year primarily increased in accounts the monthly number million to $X.X enrollments after expenses HCMX quarter $X.X enrollments. second the to at spend the processing second $XXX,XXX facility, of cash offering. were the generated of impact we of XX% first we and in X repayment strong the share portion XX,XXX,XXX $X.X increased to receiving delays cash student method of during continued related an aid of credit cash in due strong cost ongoing plan. by savings, XX,XXX,XXX payments offset payment X was quarter.
guidance call call for now time.That We the are not I to questions. back please prepared providing open for Q&A. operator concludes remarks. will the the turn our at Operator, this
