Thread regarding Bridgepoint Education Inc. layoffs

Earnings Call April 29, 2020

It might not be good. Shares down 17 percent today.

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Post ID: @OP+14IOcKxz

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"Excluding restructuring and impairment charges, separation and conversion transaction costs, acquisition costs, as well as tax impacts relating to the CARES Act, our non-GAAP net loss for the first quarter of 2020 was $3.2 million or $0.10 per diluted share."

"...two of our top 30 partners have suspended their tuition reimbursement program as part of broader cost-cutting actions early in the second quarter.

"We expect new enrollment in the second quarter of 2020 to decline mid-teens to 20%."

"The costs as a percentage of revenue were fairly consistent year-over-year, whereas the decrease in expense in absolute dollars was primarily driven by lower labor costs..."

"As of March 31, 2020, we had combined cash and cash equivalents of $61.3 million, compared to $69.3 million as of December 31, 2019."

"Due to this continued uncertainty, we are withdrawing our earnings guidance provided during our fourth quarter and full year 2019 earnings call on February 20, 2020."

Alex Paris had questions. Lots of questions about the Conversion Transaction...

Post ID: @1idq+14IOcKxz

"Operating loss for the three months ended March 31, 2020 was $10.5 million, compared with operating loss of $7.2 million for the three months ended March 31, 2019."

Post ID: @xvo+14IOcKxz

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