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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 March 7, 2022, the Accreditation Council for Business Schools and Programs (ACBSP) reaffirmed the accreditation of the Dr. Wallace E. Boston School of Business at the American Public University System (APUS). This recognition emphasizes high academic standards in APUS's online business education. Since first accredited in 2011, the school has awarded nearly 29,000 degrees and certificates. They offer 49 online programs, including Master and Bachelor degrees in Business Administration. The ACBSP accreditation ensures rigorous educational standards for business programs.
American Public Education, Inc. (APEI) reported a strong financial performance for Q4 and the full year ending December 31, 2021. Consolidated revenue rose 79.3% year-over-year to $154.0 million in Q4, with net income of $9.4 million. For the full year, revenue increased 30.1% to $418.8 million despite a slight dip in annual net income to $17.8 million. The company completed its acquisition of Rasmussen University and Graduate School USA, enhancing its market position. However, costs surged due to acquisitions, impacting earnings per share.
American Public Education, Inc. (NASDAQ: APEI) will announce its fourth quarter and full year 2021 results after U.S. markets close on March 2, 2022. A live webcast of the earnings conference call is scheduled for 5:00 p.m. Eastern on the same day, accessible via the company's investor relations website. A replay will be available approximately two hours post-call for six months. APEI focuses on providing higher education and training, serving around 90,000 adult learners, especially military and veteran students.
American Public University System (APUS) announced that three of its master's degree students have been named Presidential Management Fellowship (PMF) finalists for 2022. This prestigious program selected 1,100 finalists from over 8,000 applications across nearly 300 academic institutions. The finalists include James Mitchell (National Security Studies), Emma Salinas (Environmental Policy Management), and Ruta Young (MBA). APUS has a history of producing successful candidates for high-level government positions, with many alumni securing fellowships in various federal agencies.
American Public Education, Inc. (Nasdaq: APEI) announced the hiring of Jeff Tognola as Executive Vice President and Chief Experience Officer (CXO) on January 19, 2022. Tognola, a veteran with over 25 years of experience, will enhance student experiences across APEI's education units. Previously, he served as Senior Vice President at Laureate Education's Walden University, focusing on marketing and customer experience. CEO Angela Selden expressed confidence in Tognola's ability to drive positive student outcomes, aligning with APEI's mission to educate service-minded individuals.
On January 3, 2022, American Public Education (NASDAQ: APEI) announced the successful acquisition of substantially all the assets of Graduate School USA (GSUSA), effective January 1, 2022. GSUSA specializes in training for the federal workforce and serves over 100 government agencies, including the Department of Defense and Homeland Security. This strategic acquisition enhances APEI's educational services, particularly for service-minded individuals, furthering their commitment to career advancement and employment opportunities.
American Public University System (APUS) has appointed Javier Miyares to its Board of Trustees, bringing over 20 years of experience in online higher education. Previously, Miyares served as president of the University of Maryland Global Campus, where he increased enrollment and expanded programs. His appointment aligns with APUS's goal to provide affordable education for adult learners. APUS has over 114,000 alumni and offers more than 200 online programs. Miyares expressed excitement about contributing to APUS's mission of accessible higher education.
American Public Education reported its financial results for Q3 2021, highlighting a 24% year-over-year revenue increase to $98.2 million, driven mainly by the acquisition of Rasmussen University. However, the company faced a net loss of $0.3 million compared to $2.6 million net income in Q3 2020. Adjusted EBITDA fell 16% to $9.1 million. APEI also announced plans to acquire Graduate School USA for approximately $1 million and noted a decrease in student registrations across its American Public University System.
American Public University System (APUS) has partnered with the California Community Colleges Chancellor's Office to facilitate the transfer of graduates from 116 community colleges. Eligible students can seamlessly transfer to APUS as juniors, pursuing bachelor's degrees online in 38 fields, including criminal justice and business administration. The initiative allows up to 90 credits to be transferred, enabling students to complete their degrees by earning just 60 additional credits. This agreement enhances educational opportunities and aligns with workforce demands amid ongoing challenges posed by COVID-19.
American Public Education, Inc. (NASDAQ: APEI) will announce its third quarter 2021 results on November 8, 2021, after U.S. markets close. The company is set to hold a live earnings conference call at 5:00 p.m. Eastern the same day, accessible via their investor relations website. A replay of the call will be available for approximately six months. As a leading provider of career-focused higher education, APEI serves nearly 90,000 adult learners globally through various subsidiaries. For more information, visit www.apei.com.
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