UNIVER has recently released its 10-Q report, providing a detailed look at the company's financial performance and operations. Universal Technical Institute, Inc. operates in the transportation, skilled trades, and healthcare education sectors in the United States. The company's two segments, UTI and Concorde, offer a range of certificate, diploma, or degree programs under various brands, including Universal Technical Institute, Motorcycle Mechanics Institute, Marine Mechanics Institute, NASCAR Technical Institute, and MIAT College of Technology. UNIVER also provides manufacturer-specific advanced training programs and student-paid electives at its campuses, serving students, partners, and communities. The company was founded in 1965 and is headquartered in Phoenix, Arizona.
In its 10-Q report, UNIVER's Item 7, "Management’s Discussion and Analysis of Financial Condition and Results of Operations," reveals several key financial insights. The company reported a total revenue of $91.3 million for the quarter ended March 31, 2021, compared to $74.6 million for the same period in the previous year, marking a significant increase. The cost of revenue also rose to $53.6 million from $47.5 million in the prior year's quarter. Additionally, UNIVER's net loss narrowed to $3.9 million, an improvement from a net loss of $9.9 million in the same quarter last year. The report also highlights the company's focus on managing expenses and optimizing its cost structure to drive long-term profitability. The market has reacted to these announcements by moving the company's shares 4.6% to a price of $33.42. Check out the company's full 10-Q submission here.
