Zovio Inc. (NASDAQ: ZVO) is up 6.53% in premarket trading by a price of $0.16.
Zovio Inc. Second Quarter 2021 Progress Report:
On 28 July 2021, ZVO, an education technology services firm, has disclosed its results for the previous three months ended 30 June 2021. The CEO GeorgePernsteiner has commented that they have delivered the second quarter of 2021 results in compliance with their expectations, despite the ongoing enrollment headwinds many higher education institutions are experiencing. He further mentioned that company’s growth segment continues to deliver an exceptional performance because both Fullstack and TutorMe added new partners during the quarter.
The revenue for the three months ended on 30th June 2021 was 69.2 million dollars, compared with the revenue of 103.9 million dollars for the three months ended on 30th June 2020. Coming towards the net loss, it was $4.0 million for the three months ended 30 June 2021. While the net income for the three months ended on 30 June 2020 was $5.1 million.
Previously, on 1 Dec 2020, the firm accomplished a sale transaction in which it transferred the academic and related operations and assets constituting the University of Arizona (Global Campus). Presently, the company provides services to the Campus like recruiting, financial aid, counseling, institutional support, information technology, and academic support services.
Advancements in Cybersecurity
National Tech education provider Fullstack Academy and Security Advisor Alliance, on the same day, announced a partnership intended for advancing cybersecurity education and growing the presence of entry-level talent across the country.
Steps towards Tech Education:
On 26 July 2021, the Fullstack Academy has announced its partnership with the University of New Mexico Continuing Education to enhance access to technology education. The partnership proposal has focused to offer immensity learning programs that will prepare learners for well-paying, in-demand jobs in just 26 weeks. The program includes a cybersecurity boot camp and DevOps Bootcamp – the sectors with increasing demand for skilled professionals.
In the coming 10 years, Burning Glass projects the cybersecurity and DevOps job markets in New Mexico will experience a growth rate of 37% and 21% respectively.
Earlier, on 8th July 2021, Fullstack Academy and the University of Texas at Dallas partner to meet the state’s growing demand for tech professionals.
Resolution of Massachusetts Inquiry
On July 1st, 2021, Zovio announced that it has agreed to resolve an inquiry by the Massachusetts Attorney General’s Office through an Assurance of Discontinuance. The investigation was focused on alleged breaches of the Massachusetts consumer protection laws.
Past Partnerships
Back on 30th June 2021, the Fullstack Academy has announced that it will team up with Oregon State University (OSU) to bring its data analytics boot camp program to the West Coast.
Earlier on 18 May 2021, the University of Arizona Global Campus unveils a new education partnership with Walgreens. The program is open to Walgreens 3 lac plus team members nationwide, and selection is subject to terms and conditions. On 20th May 2021, Munich Re US celebrated its 100th graduate from the University of Arizona.
