American Public Education(US:APEI) Prnewswire·2025-11-10 21:32Core Insights - American Public Education, Inc. (APEI) reported strong financial results for Q3 2025, exceeding guidance across all metrics, with significant revenue and enrollment growth [1][3][5]. Financial Performance - Consolidated revenue for Q3 2025 increased by 7% year-over-year to $163.2 million, driven by revenue increases of 19% at Hondros College of Nursing, 16% at Rasmussen University, and 8% at American Public University System [5][6]. - Net income available to common stockholders for Q3 2025 was $5.6 million, a 660% increase compared to $0.7 million in Q3 2024 [5][11]. - Adjusted EBITDA rose by 60% to $20.7 million from $12.9 million in Q3 2024, reflecting increased revenue and margin expansion [5][11]. - Cash flows from operations increased by 56% to $73.5 million from $47.3 million in Q3 2024 [5]. Enrollment and Registrations - Total student enrollment at American Public University System increased by 8.1% to 100,000, while Rasmussen University saw a 10.4% increase to 14,900 students, and Hondros College of Nursing experienced a 17.6% increase to 3,700 students [8][9]. Cost Management - Total costs and expenses for Q3 2025 were $153.5 million, a 3% increase from $149.0 million in the prior year, with instructional costs decreasing by 0.9% due to the sale of GSUSA [6][11]. - Selling and promotional expenses increased by 8% to $36.1 million, attributed to higher advertising costs [11]. Balance Sheet and Liquidity - Total cash, cash equivalents, and restricted cash increased to $193.1 million as of September 30, 2025, up from $158.9 million at the end of 2024, representing a 21.5% increase [7][27]. Future Outlook - For Q4 2025, APEI expects consolidated revenue to be between $150.0 million and $153.5 million, reflecting a year-over-year decline of 6% to 9% [12]. - Full-year 2025 guidance anticipates consolidated revenue of $640 million to $644 million, a 2% to 3% increase compared to the previous year [12].