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American Public Education (APEI)

American Public Education (APEI)
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American Public Education, Inc. is an online provider of higher education, focused on serving the military and public service communities. The majority of students are either serving the U.S. military actively or are civilians who are indirectly associated with the military like veterans, reservists or National Guard members. Its students also include public service professionals in the civilian space, including federal, national and local law enforcement personnel. American Public Education segment (American Military University and American Public University System, Inc) offers 124-degree programs and 112 certificate programs in fields ranging from national security, military studies, intelligence, homeland security, criminal justice, technology, business administration, education, health science, education and liberal arts. Hondros College of Nursing segment provides nursing education through in-person classes and online. The students are offered Diploma in Practical Nursing and Associate Degree in Nursing.

Fiscal Year End Date: 12/31

(Values in U.S. Thousands) Dec, 2025 Sep, 2025 Jun, 2025 Mar, 2025 Dec, 2024
Sales 158,330 163,220 162,770 164,550 164,110
Sales Growth -3.00% +0.28% -1.08% +0.27% +7.18%
Net Income 12,610 5,560 4,500 8,890 12,960
Net Income Growth +126.80% +23.56% -49.38% -31.40% +473.45%
(Values in U.S. Thousands) Dec, 2025 Sep, 2025 Jun, 2025 Mar, 2025 Dec, 2024
Total Assets 521,420 525,300 537,370 578,660 570,100
Total Assets Growth -0.74% -2.25% -7.14% +1.50% +0.09%
Total Liabilities 226,640 245,960 265,130 268,650 266,220
Total Liabilities Growth -7.85% -7.23% -1.31% +0.91% -4.64%
(Values in U.S. Thousands) Dec, 2025 Sep, 2025 Jun, 2025 Mar, 2025 Dec, 2024
Operating Cash Flow 61,970 73,520 51,810 37,000 48,870
Operating Cash Flow Growth -15.71% +41.90% +40.03% -24.29% +3.38%
Net Cash Flow 17,560 34,200 17,640 28,560 14,600
Change in Net Cash Flow -48.66% +93.88% -38.24% +95.62% -18.48%
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