ZVO - Zovio trades higher post Q4 results

Zovio (ZVO +14.3%) rallies despite decline in Q4 sales 41% Y/Y to $54.8M and Non-GAAP EPS of -$0.23. Operating loss of $23.7M compared to operating loss of $57.3M Y/Y. Adjusted EBITDA loss of $6.3M vs. Adjusted EBITDA income of $2.7M in 4Q20. As of Dec. 31, 2021, the Co. had cash and equivalents of $28.3M as compared to $35.5M Y/Y. On April 14, 2022, the Co. entered into a credit facility as the borrower, with each of its wholly-owned subsidiaries as guarantors. The Co. also used $15.4M of cash in operating activities during the year ended Dec. 31, 2021, compared with $25.3M of cash provided by operating activities Y/Y. Previously: Zovio Non-GAAP EPS of -$0.23, revenue of $54.8M (April 18)

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Zovio trades higher post Q4 results