Zovio Inc Reports Net Loss of $15.6 Million in the Third Quarter of 2022

Zovio Inc,(ZVOI) a leading education technology services company, has announced its financial results for the third quarter of 2022, revealing a net loss of $15.6 million and a decline in revenue to $22 million.

Financial Statements

Zovio Inc has released its unaudited condensed consolidated financial statements for the period ending September 30, 2022. The company's balance sheet shows current assets of $14.9 million, including cash and cash equivalents of $3.1 million, and total assets of $58.6 million. On the liabilities side, current liabilities amount to $34.6 million, while the total liabilities stand at $55.5 million. Stockholders' equity is recorded at $3 million.

Revenue Decline and Expenses