Zovio Inc. (ZVO) Financial Statements (2024 and earlier)

Company Profile

Business Address 1811 E NORTHROP BLVD
CHANDLER, AZ 85286
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 82 - Educational Services (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2022
MRQ
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments 29,23935,46269,280166,307187,163357,236
Cash and cash equivalents 28,26535,46269,280166,307185,098307,802
Short-term investments 974   2,06549,434
Restricted cash and investments 9,28820,03523,25718,61920,42824,533
Receivables 9,6318,84836,64632,05935,96634,031
Prepaid expense 2,6643,0274,5935,4456,1957,160
Other current assets 6,7764,9969,759126151,232
Other undisclosed current assets 3,9834,4656,9799,7087,2897,501
Total current assets: 61,58176,833150,514232,264257,056431,693
Noncurrent Assets
Operating lease, right-of-use asset 28,88120,11418,615
Property, plant and equipment 26,38230,57534,29416,86010,43412,218
Intangible assets, net (including goodwill), including: 29,49931,78544,41912,44114,59317,419
Intangible assets, net (excluding goodwill) 6,3238,60919,84110,36912,02614,852
Other undisclosed intangible assets, net (including goodwill) 23,17623,17624,5782,0722,5672,567
Other noncurrent assets 2,6911,9992,2967,9275,4562,046
Total noncurrent assets: 87,45384,47399,62437,22830,48331,683
TOTAL ASSETS: 149,034161,306250,138269,492287,539463,376
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities 74,76962,69368,16062,79271,16577,866
Accrued liabilities 74,76962,69368,16062,79271,16577,866
Deferred revenue 14,9398,09055,284
Estimated litigation liability    8,041  
Deferred revenue and credits68,20774,666
Other undisclosed current liabilities    55,793  
Total current liabilities: 89,70870,783123,444126,626139,372152,532
Noncurrent Liabilities
Long-term debt and lease obligation    8,634  
Capital lease obligations8,634  
Liabilities, other than long-term debt 39,32031,30627,7566,61819,70930,138
Accounts payable and accrued liabilities 34,20524,12522,4093,1837,00116,508
Other liabilities 5,1157,1815,3473,43512,70813,630
Total noncurrent liabilities: 39,32031,30627,75615,25219,70930,138
Total liabilities: 129,028102,089151,200141,878159,081182,670
Equity
Equity, attributable to parent 20,00659,21798,938127,614128,458280,706
Common stock 676668660653649641
Treasury stock, value (436,700)(447,259)(469,315)(508,188)(505,764)(337,069)
Additional paid in capital 172,060179,489192,413205,157201,755195,854
Accumulated other comprehensive loss      (1)
Retained earnings 283,970326,319375,180429,992431,818421,281
Total equity: 20,00659,21798,938127,614128,458280,706
TOTAL LIABILITIES AND EQUITY: 149,034161,306250,138269,492287,539463,376

Income Statement (P&L) ($ in thousands)

9/30/2022
TTM
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues 263,033397,121417,795443,373478,397527,090
Revenue, net478,397527,090
Cost of revenue (295,841)(178,403)(231,195)(225,494)(245,930)(283,174)
Cost of goods and services sold   (209,730)(217,700)(237,248)(263,898)
Gross profit: (32,808)218,718186,600217,879232,467243,916
Operating expenses (9,800)(280,618)(243,197)(221,872)(224,615)(284,137)
Operating income (loss): (42,608)(61,900)(56,597)(3,993)7,852(40,221)
Nonoperating income (expense)
(Other Nonoperating Income (Expense))
 130(120)1,0151,0471,5112,306
Interest and debt expense 2,800     
Income (loss) from continuing operations before equity method investments, income taxes: (39,678)(62,020)(55,582)(2,946)9,363(37,915)
Other undisclosed loss from continuing operations before income taxes (2,800)     
Income (loss) from continuing operations before income taxes: (42,478)(62,020)(55,582)(2,946)9,363(37,915)
Income tax benefit 12913,0687707,5821,1747,875
Income (loss) from continuing operations: (42,349)(48,952)(54,812)4,63610,537(30,040)
Income (loss) before gain (loss) on sale of properties:(42,349)(48,952)(54,812)4,63610,537(30,040)
Net income (loss) available to common stockholders, diluted: (42,349)(48,952)(54,812)4,63610,537(30,040)

Comprehensive Income ($ in thousands)

9/30/2022
TTM
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Net income (loss): (42,349)(48,952)(54,812)4,63610,537(30,040)
Comprehensive income (loss): (42,349)(48,952)(54,812)4,63610,537(30,040)
Other undisclosed comprehensive income, net of tax, attributable to parent     198
Comprehensive income (loss), net of tax, attributable to parent: (42,349)(48,952)(54,812)4,63610,538(29,942)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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