UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $.01 par value APEI Nasdaq Global Select Market FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to __ ...

American Public Education, Inc. (NASDAQ:APEI) Q2 2023 Earnings Call Transcript August 8, 2023 5:00 PM ET Company Participants Ryan Koren - Assistant VP of IR & Corporate Development Angela Selden - President, CEO & Director Richard Sunderland - Executive VP & CFO Conference Call Participants Jasper Bibb - Truist Securities Alexander Paris - Barrington Research Operator Ladies and gentlemen, thank you for standing by. My name is Saurav, and I'll be your conference operator today. At this time, I would like t ...

American Public Education, Inc. Second Quarter 2023 Results ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $.01 par value APEI Nasdaq Global Select Market FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ ...

Financial Data and Key Metrics Changes - Total revenue for Q1 2023 was $149.7 million, down 3% from the prior year period due to a $9.6 million or 14% decline in revenue at Rasmussen, partially offset by increases in revenue in the other three education units [19] - Adjusted EBITDA was $7 million for Q1 2023, compared to $17.4 million in the prior year period, representing an adjusted EBITDA margin of 5% compared to 11% in the prior year [20] - Net loss per diluted share for Q1 2023 was $0.38, compared to income per diluted share of $0.28 in the prior year period [21] Business Line Data and Key Metrics Changes - APUS revenue was approximately $74 million for Q1 2023, up $0.9 million compared to the prior year due to higher net course registrations from military students [19] - Hondros' revenue for Q1 2023 was approximately $13 million, a 14% increase compared to the prior year period, driven by higher total enrollment [19] - Graduate School USA generated over $5 million in revenue, an increase of more than 60% compared to the prior year period [13] Market Data and Key Metrics Changes - Total active duty registrations at APUS grew by 7% during Q1 2023 compared to the prior year period, with all branches of the Armed Services seeing year-over-year increases [10] - Hondros set an all-time high total enrollment record with 2,700 students in Q1 2023, reflecting a 10% increase compared to the prior year period [11] - Rasmussen's total nursing student enrollment decreased 22% year-over-year to approximately 6,400 students in Q2 2023 [23] Company Strategy and Development Direction - The company aims to rebuild at Rasmussen to replenish leadership and drive enrollment momentum for long-term sustainable growth and profitability [14] - APEI is focused on leadership in military and health care education and career learning while setting a path for long-term growth and profitability [9] - The new leadership team at Rasmussen has established priorities and is executing on key initiatives to mitigate challenges and position the university for future growth [16] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing headwinds at Rasmussen, including the absence of permanent senior leadership over the last 12 months, but expressed confidence in the new leadership team's ability to unlock value [8] - The company expects strong revenue, substantial cash generation, and improving EBITDA margins throughout 2023 for APUS [10] - Management noted that despite inflationary pressures, tuition increases have been implemented to support revenue and margin growth in the second half of 2023 [13] Other Important Information - APEI completed the remaining authorized $8 million of share repurchases, repurchasing approximately 1.3 million shares [22] - The company has a remaining principal on the term loan of approximately $99 million and unrestricted cash of approximately $109 million, with net debt remaining at 0 [22] Q&A Session Summary Question: Has the management lineup at Rasmussen been fully revitalized after the departures? - Yes, the leadership team at Rasmussen is now fully staffed with seasoned executives [26] Question: What is the outlook for Rasmussen given the ongoing challenges? - Management noted that nursing enrollment momentum is being affected by the completion of students who began their education online during the pandemic, but they expect stabilization as these cohorts graduate [29] Question: How is the new marketing engine progressing? - Significant efficiencies in marketing spend have been achieved, allowing for reinvestment into the marketing engine [33]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $.01 par value APEI Nasdaq Global Select Market FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ ...

American Public Education, Inc. (NASDAQ:APEI) Q4 2022 Earnings Conference Call March 14, 2023 5:00 PM ET Company Participants Ryan Koren - Head, IR Angela Selden - President and CEO Richard Sunderland - EVP and CFO Steve Somers - SVP and Chief Strategy and Corporate Development Officer Conference Call Participants Matthew Filek - William Blair Raj Sharma - B. Riley Operator Good afternoon, ladies and gentlemen. Welcome to the APEI Fourth Quarter 2022 Results Conference Call. At this time, all participants ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☒ Annual Report Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2022 or ☐ Transition report pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934 For the transition period from ______ to ______ Commission file number: 001-33810 American Public Education, Inc. (Exact name of registrant as specified in its charter) Delaware 01-0724376 (Stat ...

American Public Education, Inc. (NASDAQ:APEI) Q3 2022 Results Conference Call November 8, 2022 5:00 PM ET Company Participants Ryan Koren - Head, IR Angela Selden - President and CEO Rick Sunderland - EVP and CFO Steve Somers - SVP and Chief Strategy and Corporate Development Officer Conference Call Participants Jasper Bibb - Truist Securities Stephen Sheldon - William Blair Raj Sharma - B. Riley Alex Paris - Barrington Research Operator Hello, and thank you for standing by. My name is Regina, and I will be ...