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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.
Rasmussen University has launched the Professional Achievement Grant for Saber Healthcare Group employees, providing up to 100% tuition assistance on advanced nursing degrees. This initiative, combined with Saber's tuition reimbursement program, helps qualified employees pursue RN to BSN and MSN degrees at no out-of-pocket cost. Additionally, a 20% corporate grant is available for other programs. The grant aims to address the workforce's evolving needs, enhance patient care, and support Saber's talent retention. Eligibility requires six months of full-time employment at Saber in a leadership role.
APUS will celebrate over 16,000 graduates at its 28th annual commencement on May 10-11, including around 4,100 master's, 8,800 bachelor's, and 3,600 associate degrees. The ceremonies will be held at the Gaylord Hotel in National Harbor, Md., and live streamed for remote viewing. Award winners will also be recognized during the event.
American Public Education, Inc. (APEI) reported solid financial results for the first quarter of 2024, with revenue increasing by 3.2% year-over-year to $154.4 million. Adjusted EBITDA also saw a substantial growth of 143% to $17.1 million. The company maintained a strong liquidity position and is raising its full-year revenue and Adjusted EBITDA guidance. Management highlighted the positive momentum in financial performance driven by enrollment growth and cost reductions. Total revenue increased primarily in the APUS and HCN Segments, while costs and expenses decreased compared to the same period last year. The net loss available to common stockholders improved significantly, with a total cash, cash equivalents, and restricted cash of $153.2 million as of March 31, 2024.
American Public Education, Inc. (APEI) will be presenting at the Sidoti Micro Cap Conference on May 8, 2024. Angela Selden, President and CEO, will present at 1:45 p.m. ET. The company offers education services through campus-based and online post-secondary education.
Rasmussen University has expanded its Bloomington Bachelor of Science in Nursing program to the Hennepin/Anoka campus in response to nursing shortages in Minnesota. The CCNE-accredited BSN program aims to meet the demand for registered nurses with baccalaureate degrees. Enrollment is open, with classes starting soon. The expansion follows a successful launch at the Eagan campus, where 93% of BSN students passed the NCLEX-RN exam in 2023. Rasmussen offers various entry tracks for students at different academic stages, emphasizing evidence-based practices and real-world clinical settings.
American Public Education, Inc. has been named one of the 'World's Top EdTech Companies' for 2024 by TIME Magazine and Statista Inc. This recognition validates APEI's commitment to academic excellence. The company was selected from over 7,000 companies based on financial strength and industry impact. APEI offers online and campus-based post-secondary education services through its subsidiaries.
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