American Public Education, Inc. (NASDAQ:APEI) Q1 2020 Earnings Conference Call May 11, 2020 5:00 PM ET Company Participants Christopher Symanoskie - VP, IR & Corporate Communications Angela Selden - President, CEO & Director Richard Sunderland - EVP & CFO Conference Call Participants Sou Chien - BMO Capital Markets Gregory Pendy - Sidoti & Company Operator Ladies and gentlemen, thank you for standing by, and welcome to the American Public Education, Inc. Reports First Quarter 2020 Results Conference Call. [ ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 or o 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 | --- | --- | --- | |-----------------------------------------------------------|-------------------------- ...

Financial Data and Key Metrics Changes - Consolidated revenue for Q4 2019 decreased 3% to $74.4 million compared to $76.9 million in the prior year period [25] - Consolidated net income for the quarter was $5.7 million or $0.37 per diluted share compared to net income of $9.1 million or $0.55 per diluted share in the prior year period [28] - Operating income for Q4 2019 was $8.6 million compared to $11.4 million in the prior year period, primarily due to a decrease in operating income in the HCN segment and higher advertising and technology-related expenditures in the APEI segment [28] Business Line Data and Key Metrics Changes - At APUS, total student net course registrations increased by 1% year-over-year, driven by an 8% increase in new students utilizing cash and other sources and a 7% increase in new students utilizing Veterans Benefits [8] - The HCN segment reported a 21.7% decrease in revenue to $7.9 million, although new student enrollment growth of 31% was noted in Q1 2020 compared to the prior year period [10][25] - Operating loss in the HCN segment improved sequentially to a loss of $500,000 from a loss of $3.2 million in Q3 2019, with expectations of reaching profitability by Q4 2020 [11] Market Data and Key Metrics Changes - The demand for courses by military branches was strong in Q4 2019, except for the Navy, which imposed limitations on TA course approvals [8] - The company anticipates continued growth in net course registrations by active duty military due to the extension of textbook and tuition grants to military students at the Master's level effective January 1, 2020 [17] Company Strategy and Development Direction - The company is implementing a new value creation strategy aimed at accelerating enrollment growth at both APUS and Hondros [7] - Key elements of the APUS strategy include refining brand messaging, increasing marketing spend by $10 million to $15 million in 2020, and modernizing technology to improve learner experience [13][14][15] - The company aims to build a strong internal culture of execution and enhance the executive leadership team to support enterprise transformation [19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to handle increased inquiries and enrollments due to the coronavirus, emphasizing the capacity to support higher enrollments in online learning [22][39] - The company expects consolidated revenue for Q1 2020 to change in the range of minus 1% to plus 3%, with diluted earnings per share projected between $0.13 and $0.18 [31] Other Important Information - The company activated its business continuity plan in response to the coronavirus, ensuring preparedness for remote operations [22] - The HCN segment's accreditation was affirmed through February 2021, and the company is exploring additional measures to improve student safety during the pandemic [12][24] Q&A Session Summary Question: Impact of coronavirus on inquiries and marketing - Management noted an increase in inquiries as students evaluate options and indicated that marketing efforts will highlight the benefits of online learning [36][37] Question: Capacity to handle increased enrollment - Management confirmed no capacity issues, stating that the current systems and processes can support a significant increase in student enrollment [39] Question: Details on the tuition increase - A 5% tuition increase effective January 1 was applied to all students, with specific grants ensuring no out-of-pocket costs for military students [41] Question: Marketing plan details - The marketing plan will allocate funds for brand building and advertising, with a focus on attracting students considering transferring from on-ground institutions [45] Question: Balancing profitability with new campus investments - Management plans to open one new campus per year while balancing the need for profitability and cash flow [58] Question: NCLEX pass rates and enrollment process changes - Management reported high NCLEX scores in the PN program and discussed improvements in the ADN program, along with changes to the admissions process to enhance student enrollment [66][69]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) [X] Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2019 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 ( ...

American Public Education, Inc (NASDAQ:APEI) Q3 2019 Earnings Conference Call November 12, 2019 5:00 PM ET Company Participants Chris Symanoskie – Vice President-Investor Relations Angela Selden – President and Chief Executive Officer Rick Sunderland – Executive Vice President and Chief Financial Officer Conference Call Participants Greg Pendy – Sidoti Operator Ladies and gentlemen, thank you for standing by and welcome to the American Public Education Third Quarter 2019 Results Conference Call. [Operator I ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 or o 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. (NASDAQ:APEI) Q2 2019 Earnings Conference Call August 6, 2019 5:00 PM ET Company Participants Christopher Symanoskie - VP, IR Wallace Boston - President and CEO Richard Sunderland - Executive VP, CFO Conference Call Participants Corey Greendale - First Analysis Greg Pendy - Sidoti Operator Good afternoon. My name is Chavez and I'll be your conference operator today. At this time, I would like to welcome everyone to the American Public Education Second Quarter 2019 Earnings C ...