#United States #Rasmussen University #Charles Town #American Public Education #APEI

American Public Education Reports Strong Q1 2026 Results

American Public Education, Inc. (Nasdaq: APEI) has recently announced its financial results for the first quarter of 2026, showcasing a remarkable performance and raising the guidance for the entire fiscal year. The company continues to support the education of approximately 109,000 students across its online and campus-based programs, emphasizing its commitment to transforming lives, advancing careers, and enhancing communities.

In the first quarter ending March 31, 2026, American Public Education achieved consolidated revenues of $174.7 million, representing a 6.2% increase from the same period last year. Notably, if we exclude the impact of the previous sale of GSUSA in July 2025, the revenue would have jumped by 8.7% year-over-year. The positive results were attributed mainly to the growth in its Health+ segment, which reported an 11.0% revenue increase to $85.4 million, driven by heightened enrollments and slight price adjustments.

The Military+ segment also showed strong performance with a 6.5% revenue growth reaching $89.4 million, fueled by an increase in course registrations from military members and their families.

Significant Financial Highlights

Angela Selden, President and CEO of American Public Education, expressed confidence in the company's trajectory following the promising figures from Q1. She noted that this quarter marks the initiation of a four-year strategic plan aimed at improving the institution’s outcomes and efficiency.

Some key financial highlights from the first quarter include:

• - A staggering 137.6% increase in net income available to common stockholders, amounting to $17.7 million compared to $7.5 million in Q1 2025.
• - Adjusted EBITDA rose 37.5% to reach $29.2 million, compared to $21.2 million during the same period in the previous year.
• - The net income per diluted share surged by 129.3% to $0.94, increasing from $0.41.

To enhance its market presence, the company opened a new campus for Rasmussen University in Orlando, Florida, introducing the Practical Nursing Diploma program to the local student body.

Strong Balance Sheet and Future Outlook

American Public Education's balance sheet remains robust with total cash and cash equivalents, alongside restricted cash of $221.0 million, reflecting a 25.2% increase from the previous quarter. The company also successfully refinanced its debt, achieving a significant reduction in its borrowing rate, which is expected to save approximately $3.7 million annually.

Alongside these successes, the Board of Directors has authorized a $50 million share repurchase program, signaling the company’s strong performance and commitment to returning value to shareholders.

Looking ahead, American Public Education foresees continued growth in both its Military+ and Health+ segments. The company anticipates net course registrations in its Military+ segment to be between 98,300 and 100,300, with enrollment in the Health+ segment expected to hit 19,600—an increase of 7.1% year-over-year.

For the full year, American Public Education now projects revenues between $686.0 and $696.0 million, alongside expectations for net income available to common stockholders to range from $44.9 million to $51.6 million.

In conclusion, American Public Education’s strong first quarter performance and optimistic outlook indicate a promising future as it continues to grow in the competitive educational landscape.