APEI
American Public Education, Inc.37.55
-0.08-0.21%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
679.09MP/E (TTM)
28.66Basic EPS (TTM)
1.31Dividend Yield
0%Recent Filings
8-K
APEI names new CFO
American Public Education appointed Edward H. Codispoti as Executive Vice President and CFO effective October 20, 2025, succeeding Richard Sunderland Jr., who will advise for 90 days before retiring. Codispoti, with over 25 years in finance including leading 45 M&A deals at NV5 Global, brings expertise in strategic planning and operations. His package includes $530,000 base salary, $70,000 signing bonus, and $300,000 in RSUs vesting over three years. This bolsters APEI's financial leadership amid growth, yet hinges on smooth handover.
8-K
Q3 beat, shutdown hit
American Public Education beat its Q3 2025 revenue and APUS net course registration guidance, topping prior estimates from August. Yet the U.S. government shutdown suspended the DoD tuition assistance program, forcing APUS to drop 12,700 registrations on October 11 and slashing October revenue by $9.6 million while net registrations fell 35% from 2024. Shutdown disrupts military student funding. Full Q4 impact remains unclear amid mitigation efforts.
10-Q
Q2 FY2025 results
American Public Education swung to profitability in Q2 FY2025 ended June 30, 2025, with revenue climbing 6.5% y/y to $162.8M on stronger enrollments across segments—APUS up 6.1% y/y to $81.7M, RU surging 12.2% y/y to $59.5M, and HCN rising 10.5% y/y to $18.1M—while operating income jumped to $7.0M from $2.2M y/y, lifting margins to 4.3%. Gross margins held steady at 51.8%, but diluted EPS dipped to $(0.02) from $(0.06) y/y due to a $3.5M preferred stock redemption loss, though YTD EPS improved to $0.39 from $(0.12) y/y and reconciles to 18.5M diluted shares. Cash swelled to $176.6M after $51.8M operating cash flow and $23.0M from asset sales, funding the $43.1M preferred redemption; long-term debt stayed at $94.1M with full $20M revolver availability and no covenant breaches. The RU segment's enrollment gains drove momentum, yet regulatory shifts like the OBBBA's loan caps pose risks to Title IV funding.
8-K
Q2 revenue up 6.5%, EBITDA jumps
American Public Education reported Q2 2025 revenue of $162.8 million, up 6.5% year-over-year, with Adjusted EBITDA surging 38.2% to $15.1 million amid enrollment gains across segments. The company redeemed all preferred equity, saving $6 million annually in cash expenses, sold two administrative buildings, and completed the Graduate School USA sale on July 25, 2025, streamlining operations. It reconfirmed full-year revenue guidance at $650–$660 million while raising Adjusted EBITDA to $81–$88 million, though net income outlook accounts for sale-related losses. Regulatory relief lifted Rasmussen University's growth limits and freed $24.5 million in restricted cash.
8-K
Preferred stock fully redeemed
American Public Education, Inc. redeemed all 400 outstanding shares of its Series A Senior Preferred Stock on June 23, 2025, paying $44,455,152 in cash, including $1,366,364 in accrued dividends. The company filed a Certificate of Elimination that day, removing preferred stock provisions from its charter. This clears the balance sheet of senior obligations. No further dividends loom.
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