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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.
American Public University System (APUS) has received a 10-year reaccreditation from The Higher Learning Commission (HLC), validating its online higher education programs. This reaccreditation, part of the Open Pathway, highlights APUS's commitment to high academic standards and quality delivery. The Quality Initiative allows APUS to pursue projects that align with its goals. APUS also celebrates its 30th anniversary and holds several specialty accreditations for various programs, enhancing its educational credibility in the market.
American Public Education, Inc. (Nasdaq: APEI) has completed its acquisition of Rasmussen University, effectively doubling its revenue to approximately $600 million. This strategic acquisition diversifies APEI's revenue streams, with a customer base comprising one-third military and veteran students, one-third nursing students, and one-third online adult learners. APEI now serves over 110,000 students and anticipates $90 million in adjusted EBITDA. Rasmussen is expected to generate approximately $275 million in revenue for 2021 and will operate as a separately accredited institution.
American Public University System and the Policy Studies Organization have announced the second annual Space Education and Strategic Applications (SESA) Conference, scheduled for September 23-24, 2021. This virtual event, themed 'SESA: Focusing the Telescope', will feature keynote sessions, workshops, and discussions on space exploration, education, and entrepreneurship. Notable speakers include NASA Astronaut Eileen Collins and Robert Durbin from Pioneer Astronautics. Registration is open to the public, offering a platform to advance dialogue in space studies amid rising interest following recent developments in the space sector.
Graduate School USA (GSUSA) has announced its acquisition by American Public Education, Inc. (NASDAQ: APEI), a leading provider of educational services. The deal, expected to close in Q4 2021, will position GSUSA as a stand-alone subsidiary within APEI, aligning with APEI's mission to support military and veteran education. GSUSA offers over 300 courses aimed at workforce training and professional development, enhancing APEI's existing programs for approximately 90,000 learners worldwide. The acquisition promises increased technological advantages and a broader course offering for students.
American Public Education, Inc (NASDAQ: APEI) has signed an agreement to acquire substantially all the assets of Graduate School USA (GSUSA) for $1 million. GSUSA, established in 1921, specializes in training the federal workforce, offering over 300 courses to government agencies. This acquisition aligns with APEI's focus on career training for military and veteran populations and is expected to enhance its presence in workforce training. GSUSA has generated over $20 million in average annual revenue over the past three years. The transaction is anticipated to close in Q4 2021, pending regulatory approvals.
American Public Education, Inc. (APEI) reported its second-quarter financial results for 2021, revealing a 5% decline in revenue year-over-year to $78.0 million and a drop in net income to $0.5 million from $6.7 million. Adjusted EBITDA fell 36% to $9.9 million. APUS experienced an 8% decrease in net course registrations, totaling 82,600, while Hondros College of Nursing saw a 36% increase in enrollment, reaching 2,380, a record high. Total cash and cash equivalents stood at $317 million as of June 30, 2021.
American Public University System (APUS) has appointed Dr. Katherine Zatz as the new chair of its Board of Trustees, effective August 1, 2021. Dr. Zatz, a long-term board member, succeeds General Alfred M. Gray, who served for 25 years. During Dr. Zatz's prior tenure, APUS achieved important milestones, including regional accreditation and significant enrollment growth. APUS serves over 90,000 students and offers more than 200 online programs. It is a subsidiary of American Public Education, Inc. (NASDAQ:APEI).
American Public University System announced a new partnership with Miami Dade College on August 3, 2021, aimed at enhancing access to higher education for diverse and underserved student populations. This collaboration will provide academic pathways in various fields including business, STEM, and psychology, leveraging both institutions' resources and expertise.
APUS President Dr. Wade Dyke expressed enthusiasm for the agreement, highlighting its potential to help MDC graduates pursue further studies. MDC President Madeline Pumariega emphasized the commitment to meeting workforce demands through this partnership.
American Public Education, Inc. (NASDAQ: APEI) announced its successful enrollment of students via the U.S. Army's new tuition assistance portal, Army IgnitED, as of July 19, 2021. This initiative aims to support soldiers in their academic pursuits. APUS awarded over $31.7 million to approximately 54,000 U.S. Armed Forces members through its Freedom Grant initiative in 2020, which covers tuition beyond the military TA cap.
APUS is recognized as the top provider of higher education for military personnel, committed to enhancing educational access and affordability.
American Public Education plans to release its second quarter 2021 results after U.S. market close on August 9, 2021. A live webcast of the earnings conference call will take place at 5:00 p.m. Eastern on the same day, accessible via the company's investor relations website. A replay of the call will also be available for one year after the event. The company, listed on NASDAQ under the symbol APEI, serves approximately 90,000 adult learners globally through various educational programs.
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