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American Public Education, Inc. (NASDAQ: APEI) is a leading provider of higher education services committed to transforming lives by preparing students for excellence in service, leadership, and achievement. Through its wholly owned subsidiaries, APEI offers respected, career-relevant, and affordable academic programs and services to a diverse range of students worldwide. The company operates under several key institutions, including the American Public University System (APUS), which encompasses the American Public University (APU) and the American Military University (AMU), as well as the National Education Seminars, Inc., known as Hondros College of Nursing.
APEI offers nearly 100 degree programs in fields that range from homeland security, military studies, intelligence, and criminal justice to technology, business administration, public health, nursing, and liberal arts. The American Public University System is a pioneer in online education, with over 137,000 alumni from more than 100 countries, and is expanding its reach globally to integrate emerging technologies, such as AI-powered classrooms and personalized digital services, to enhance teaching and learning experiences.
Rasmussen University, another key entity under APEI, is a 120-year-old institution focused on nursing and health sciences, serving approximately 13,500 students across its 22 campuses in six states and online. It offers a full range of nursing education from Practical Nursing to Doctor of Nursing Practice (DNP). Rasmussen University has introduced new grants and tuition reimbursement programs in collaboration with organizations like GuideWell and Saber Healthcare Group to support workforce development and higher education affordability.
The Hondros College of Nursing provides pre-licensure nursing education at eight campuses across Ohio, Indiana, and Michigan, making it the largest educator of PN (LPN) nurses in Ohio. It is expanding its program offerings, such as the new Medical Assisting program, to meet the growing demand for healthcare professionals.
APEI’s financial condition remains robust, with a strong liquidity position and consistent revenue growth. In the first quarter of 2024, APEI reported consolidated revenues of $154.4 million, marking a year-over-year increase of 3.2%. The company’s financial stability is further confirmed by its recognition as one of the world’s top EdTech companies by TIME Magazine and Statista Inc.
Overall, APEI's commitment to innovation in education, strong partnerships, and emphasis on affordability and accessibility positions it as a significant player in the higher education sector, continually striving to meet the evolving needs of students, communities, and industries.
On September 22, 2022, American Public Education, Inc. (Nasdaq: APEI) announced its financial guidance for the second half and full year of 2022. The company expects consolidated revenue between $600 million to $610 million and adjusted EBITDA between $53 million to $59 million. Additionally, pro forma adjusted EBITDA is estimated to be between $70 million to $76 million. The company emphasized that forward-looking statements regarding its financial performance should be approached with caution, as actual results may vary significantly.
American Public University System (APUS) and the Policy Studies Organization (PSO) will host the third annual Space Education and Strategic Applications Conference (SESA) on September 22-23, 2022. This virtual event is free and open to the public for online registration. Keynote speakers include astronaut Mike Mullane and Carl Starr, a James Webb telescope expert, focusing on future space exploration. The event will facilitate discussions on military and commercial space issues, featuring diverse panels and topics including space ethics, commercialization, and education.
American Public Education System (APUS) has received reaccreditation from the Council on Education for Public Health (CEPH) for its Master of Public Health program for an additional seven years, extending through December 31, 2029. This program, which first achieved accreditation in 2017, has graduated over 900 students and focuses on training public health practitioners through a comprehensive curriculum. APUS continues to emphasize student support and practical learning experiences.
Nuno Fernandes has officially become the fifth president of American Public University System (APUS) as of September 1, 2022. He aims to enhance the institution's mission of providing affordable and accessible higher education to adult learners. With a strong history at Ilumno, Latin America's largest online program manager, Fernandes improved student retention and satisfaction. Under his leadership, APUS, which serves approximately 86,600 adult learners and offers over 200 programs, looks forward to expanding its online education reach.
Graduate School USA will feature Phyllis Fong, Inspector General of the USDA, on the August 29 broadcast of The Search for Accountability at 2:00 p.m. ET. The discussion, hosted by Michael Binder, will focus on accountability in food safety, agricultural research, and rural development. Fong has served as the USDA IG since December 2002, overseeing audits and investigations to ensure governmental integrity. The program airs on Federal News Network, part of a collaboration aimed at enhancing government accountability.
On August 19, 2022, Christi A. Grimm, Inspector General of HHS, will be the guest on 'The Search for Accountability' broadcast on Federal News Network, discussing healthcare oversight challenges. The program, hosted by Michael Binder, aims to explore accountability in HHS amidst COVID-19. Grimm brings two decades of experience in health program oversight and aims to enhance public trust in government operations. Graduate School USA, a subsidiary of American Public Education, Inc. (APEI), partners in this initiative, which provides training for federal workforce professionals.
American Public Education reported a significant 92% revenue increase year-over-year to $149.6 million for Q2 2022. The company recorded a net loss of $110 million, primarily due to a non-cash impairment charge of $144.9 million related to its Rasmussen University segment. Adjusted EBITDA grew by 47% to $14.5 million. As of June 30, 2022, total cash and cash equivalents were approximately $184.5 million, up 23.3% from the previous year. Student enrollment trends showed a slight decline in Rasmussen University but modest increases in other segments.
American Public University System (APUS) announces the appointment of Nuno Fernandes as its new president, effective September 1, 2022. Fernandes, previously President and CEO of Latin America's largest online program manager, Ilumno, has a strong track record in improving student outcomes and expanding access to education. He aims to enhance APUS's value proposition and growth in the U.S. market. The announcement follows the tenure of Acting President Dr. Kate Zatz, who served since November 2021.
American Public Education, Inc. (Nasdaq: APEI) has appointed Craig MacGibbon as its new Executive Vice President and Chief Information Officer effective immediately. MacGibbon, with nearly 30 years of experience in technology management, previously held the role of delegate Chief Technology Officer at APEI. He is tasked with leading key IT initiatives across various educational units including American Public University System and Rasmussen University. CEO Angela Selden expressed confidence in MacGibbon's ability to drive growth and transformation.
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