Thread regarding Bridgepoint Education Inc. layoffs

More losses. Burning through cash.

"Operating loss for the three months ended June 30, 2021 was $4.5 million, compared with operating income of $5.3 million for the three months ended June 30, 2020. Net loss for the three months ended June 30, 2021 was $4.0 million, compared with net income of $5.1 million for the three months ended June 30, 2020."

"Operating loss for the six months ended June 30, 2021 was $13.8 million, compared with operating loss of $5.2 million for the six months ended June 30, 2020. Net loss for the six months ended June 30, 2021 was $13.5 million, compared with net income of $7.2 million for the six months ended June 30, 2020."

"The Company used $16.3 million of cash in operating activities during the six months ended June 30, 2021, compared with $6.7 million of cash provided by operating activities during the six months ended June 30, 2020."

https://www.marketwatch.com/press-release/zovio-inc-reports-second-quarter-2021-results-2021-07-28?siteid=nbsh

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Zovio revenues were $66.7 million this quarter. In the same quarter in 2013, Bridgepoint had $256 million in revenues. In the past year, cash was reduced from $35 million to $24 million.

https://www.sec.gov/ix?doc=/Archives/edgar/data/1305323/000130532321000047/zvo-20210630.htm

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