American Public Education(US:APEI)2025-03-07 00:39Financial Highlights - Full Year 2024 Revenue reached $624.6 million, a 4% year-over-year increase[9] - Full Year 2024 Adjusted EBITDA was $72.3 million, a 21% year-over-year increase[11,12] - Cash as of December 31, 2024, was $158.9 million, a 10% year-over-year increase[12] - Fourth Quarter 2024 Adjusted EBITDA was $31.4 million, exceeding guidance[13] - Full Year 2024 Net income available to common shareholders was $10.1 million[9,53] Enrollment Trends - APUS delivered 3% year-over-year enrollment growth with an EBITDA margin of 30% on $317 million in revenue[12] - APUS 4Q24 registration growth was 7% compared to 4Q23[13,48] - Rasmussen experienced year-over-year enrollment growth starting in 3Q24 and achieved positive EBITDA in 2H24[12,49] - Hondros enrollments have grown year-over-year for the last 20 consecutive quarters[24,33] 2025 Outlook - The company projects 2025 revenue between $650 million and $660 million[16] - The company projects 2025 Adjusted EBITDA between $75 million and $85 million[16] - The company projects 2025 Net income available to common shareholders between $19 million and $26 million[16] Strategic Initiatives - APEI plans to combine APUS, Rasmussen, and Hondros College of Nursing into American Public University System by year-end 2025[17,19]