Core Insights - American Public Education, Inc. (APEI) reported strong first-quarter 2025 results, with adjusted earnings and total revenues exceeding expectations and showing year-over-year growth [1][2] - The performance was primarily driven by contributions from Rasmussen University (RU), American Public University System (APUS), and Hondros College of Nursing (HCN), while the Graduate School (GSUSA) segment experienced a revenue decline [1][2] Financial Performance - APEI's adjusted earnings per share (EPS) reached 41 cents, significantly surpassing the Zacks Consensus Estimate of 15 cents by 173.3%, compared to a loss of six cents per share in the same quarter last year [3] - Total revenues amounted to $164.6 million, exceeding the consensus mark of $162 million by 1.6% and growing 6.6% year over year, supported by net course registration growth and tuition increases [4] - Total costs and expenses rose 2% year over year to $152.3 million, driven by a 3.5% increase in instructional costs and an 8.5% rise in selling and promotional expenses [4] - Adjusted EBITDA increased by 24% year over year to $21.2 million, with an adjusted EBITDA margin of 13%, expanding 200 basis points from 11% [5] Segment Performance - APUS reported revenues of $83.9 million, a 4.1% increase from $80.7 million year over year, driven by net course registrations and tuition increases [6] - RU's revenues grew 11.5% year over year to $59.3 million, attributed to enrollment growth and tuition hikes, with total student enrollment increasing 7.4% to 14,500 [7][8] - HCN's revenues rose 7.5% year over year to $17.7 million, supported by student enrollment growth, although it reported a negative EBITDA margin of 1% [8][9] - GSUSA's revenues declined 11.9% year over year to $3.7 million, with a negative EBITDA margin of 57% [10] Cash and Debt Position - As of March 31, 2025, APEI had cash, cash equivalents, and restricted cash of $187.5 million, up from $158.9 million at the end of 2024 [11] - Net long-term debt slightly increased to $93.7 million from $93.4 million at the end of 2024 [11] Guidance and Outlook - For Q2 2025, APEI expects total revenues to increase by 4-5% year over year to $160-$162 million, with a projected loss per share between 13 cents and four cents [12] - Adjusted EBITDA for Q2 is anticipated to be between $11.5 million and $14 million, reflecting year-over-year growth of 6% to 28% [12] - The company revised its 2025 guidance, expecting total revenues to grow 4-6% year over year to $650-$660 million, with adjusted EBITDA projected between $77 million and $87 million [14]

Company Overview - American Public Education, Inc. (APEI) has appointed Richard J. Statuto to its Board of Directors, effective March 6, 2025, increasing the total board members to nine [1] - Statuto has over 30 years of leadership experience in the healthcare sector, including roles as President and CEO of Bon Secours Health System and CEO of St. Joseph Health System, both of which generated over $3 billion in revenue [2] Strategic Alignment - APEI's Chairman, Ric Andersen, expressed excitement about Statuto's appointment, highlighting his experience in driving growth at large health systems, which aligns with APEI's strategic objectives [3] - Angela Selden, APEI's President and CEO, noted that Statuto's success in mission-driven healthcare organizations will be crucial in shaping APEI's strategy [3] Leadership and Experience - Statuto has served on several boards, including the Catholic Health Association and the American Heart Association, showcasing his extensive network and leadership in healthcare [2] - He holds an MBA from Xavier University and a bachelor's degree from Vanderbilt University, further emphasizing his educational background [4] Educational Institutions - APEI operates through various institutions, including American Public University System, Rasmussen University, Hondros College of Nursing, and Graduate School USA, focusing on transforming lives and advancing careers [5] - APUS serves approximately 88,000 adult learners worldwide, primarily focusing on active-duty military and veteran students [6] - Rasmussen University, with a history of 125 years, serves around 14,600 students across 20 campuses and online, emphasizing nursing and health sciences [7] - Hondros College of Nursing is the largest educator of PN (LPN) nurses in Ohio, serving approximately 3,700 students [8] - Graduate School USA provides training to the federal workforce, catering to government professionals through customized training [9] Accreditation - APEI's institutions are accredited by recognized agencies, ensuring quality education and compliance with educational standards [10]