ZVO · Zovio Inc - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|
| Revenue | $263.03M | $397.12M | $417.80M | $523.52M | - | - |
| Cost of Revenue | - | - | $209.73M | $263.34M | - | - |
| Gross Profit | - | - | $208.06M | $260.18M | - | - |
| R&D | - | - | - | - | - | - |
| SG&A | $43.16M | $47.35M | $72.41M | $52.98M | $47.38M | $48.84M |
| Total Operating Expenses | $13.20M | $459.02M | $474.39M | $447.37M | $470.55M | $567.31M |
| D&A | $8.33M | $11.40M | $10.23M | $6.79M | $8.86M | $13.08M |
| Operating Income | ($42.61M) | ($61.90M) | ($56.60M) | ($3.99M) | $7.85M | ($40.22M) |
| Interest Expense | $3.10M | - | - | - | - | - |
| Income Tax | ($129.0K) | ($13.07M) | ($770.0K) | ($7.58M) | ($1.17M) | ($7.88M) |
| Net Income | ($42.35M) | ($48.95M) | ($54.81M) | $4.64M | $10.54M | ($30.04M) |
| EPS - Basic | ($1.27) | ($1.53) | ($1.86) | $0.17 | $0.33 | ($0.65) |
| EPS - Diluted | ($1.27) | ($1.53) | ($1.86) | $0.17 | $0.32 | ($0.65) |
Balance Sheet
| Line item | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $28.27M | $35.46M | $69.28M | $166.31M | $185.10M | $307.80M |
| Accounts Receivable | $9.63M | $7.20M | $34.95M | $27.02M | $27.08M | $26.46M |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | - | - | - | - | - | - |
| Current Assets | $61.58M | $76.83M | $150.51M | $232.26M | $257.06M | $431.69M |
| Total Assets | $149.03M | $161.31M | $250.14M | $269.49M | $287.54M | $463.38M |
| Current Liabilities | $89.71M | $70.78M | $123.44M | $126.63M | $139.37M | $152.53M |
| Long-term Debt | - | - | - | - | - | - |
| Total Liabilities | $129.03M | $102.09M | $151.20M | $141.88M | $159.08M | $182.67M |
| Stockholders' Equity | $20.01M | $59.22M | $98.94M | $302.63M | $128.46M | $280.71M |
| Retained Earnings | $283.97M | $326.32M | $375.18M | $429.99M | $431.82M | $421.28M |
Cash Flow
| Line item | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | ($15.43M) | $25.33M | ($46.09M) | ($7.59M) | ($4.08M) | $11.08M |
| Investing Cash Flow | ($1.40M) | ($64.65M) | ($51.39M) | ($3.55M) | $43.68M | $14.74M |
| Financing Cash Flow | ($1.11M) | $2.29M | ($567.0K) | ($3.81M) | ($166.42M) | ($319.0K) |
| CapEx | $1.44M | $3.15M | $31.03M | $2.58M | $3.39M | $1.93M |
| Free Cash Flow | ($16.87M) | $22.17M | ($77.11M) | ($10.17M) | ($7.46M) | $9.16M |
Ratios
| Metric | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | 49.8% | 49.7% | - | - |
| Operating margin | -16.2% | -15.6% | -13.5% | -0.8% | - | - |
| EBITDA margin | -13.0% | -12.7% | -11.1% | 0.5% | - | - |
| Net margin | -16.1% | -12.3% | -13.1% | 0.9% | - | - |
| Free cash flow margin | -6.4% | 5.6% | -18.5% | -1.9% | - | - |
| FCF / Net income | 0.40 | -0.45 | 1.41 | -2.19 | -0.71 | -0.30 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 16.4% | 11.9% | 17.3% | 10.1% | - | - |
| Effective tax rate | - | - | - | - | -12.5% | - |
| Return on assets | -28.4% | -30.3% | -21.9% | 1.7% | 3.7% | -6.5% |
| Return on equity | -211.7% | -82.7% | -55.4% | 1.5% | 8.2% | -10.7% |
| Return on invested capital | - | - | - | - | - | - |
| Liquidity | ||||||
| Current ratio | 0.69 | 1.09 | 1.22 | 1.83 | 1.84 | 2.83 |
| Quick ratio | 0.69 | 1.09 | 1.22 | 1.83 | 1.84 | 2.83 |
| Cash ratio | 0.32 | 0.50 | 0.56 | 1.31 | 1.33 | 2.02 |
| Leverage | ||||||
| Debt / Equity | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | -13.7x | - | - | - | - | - |
| Equity multiplier | 7.45 | 2.72 | 2.53 | 0.89 | 2.24 | 1.65 |
| Liabilities / Assets | 0.87 | 0.63 | 0.60 | 0.53 | 0.55 | 0.39 |
| Efficiency | ||||||
| Asset turnover | 1.76 | 2.46 | 1.67 | 1.94 | - | - |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | 13d | 7d | 31d | 19d | - | - |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | -33.8% | -4.9% | -20.2% | - | - | - |
| Revenue CAGR (3y) | -20.5% | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - |
| Gross profit growth (YoY) | - | - | -20.0% | - | - | - |
| Operating income growth (YoY) | 31.2% | -9.4% | -1317.4% | - | - | 4.9% |
| Net income growth (YoY) | 13.5% | 10.7% | - | -56.0% | - | 57.4% |
| EPS growth (YoY) | 17.0% | 17.7% | - | -46.9% | - | 57.8% |
| EPS CAGR (3y) | - | - | - | - | 15.1% | - |
| EPS CAGR (5y) | - | - | - | -25.5% | -32.5% | - |
| FCF growth (YoY) | - | - | -658.1% | -36.3% | - | -62.2% |
| FCF CAGR (5y) | - | -1.8% | - | - | - | -38.6% |
| Book value growth (YoY) | -66.2% | -40.1% | -67.3% | 135.6% | -54.2% | -7.6% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2021-12-31.
Business segments
$263.03M totalUniversity Partnerships Segment$232.79M · 88.5%
Growth Segment$30.24M · 11.5%
Product / service
$263.03M totalTuitionrevenuenet$222.66M · 84.6%
Digital Materialsrevenuenet Member$30.02M · 11.4%
Technologyfeerevenuenet$9.93M · 3.8%
Transition Service Agreement$426.0K · 0.2%
Stability scores
Altman Z′
FY 2021 · bankruptcy risk
2.42
Grey zone
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2021 · 9-point quality
2/9
Weak
- ✗Net income positive
- ✗Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- -Long-term debt decreased
- ✗Current ratio improved
- ✗No share dilution
- -Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Services-Educational Services
Comparing Zovio Inc against the 5 most active filers in the same SIC group.