Logotype for American Public Education Inc

American Public Education (APEI) investor relations material

American Public Education Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for American Public Education Inc
Q2 2025 earnings summary6 Aug, 2025

Executive summary

  • Q2 2025 revenue reached $162.8M, up 6.5–7% year-over-year, exceeding guidance, with strong enrollment growth and margin improvements across all segments.

  • Adjusted EBITDA rose 38% to $15.1M, and net loss to common shareholders improved to ($0.3M), impacted by a $3.5M loss on preferred equity redemption.

  • Completed sale of Graduate School USA and two corporate buildings, unlocking $22M, and released $24.5M in restricted cash.

  • Redeemed all preferred equity for $43M, saving $6M annually and simplifying capital structure.

  • Announced leadership changes and investments in technology to modernize student experience.

Financial highlights

  • Q2 2025 revenue: $162.8M (up 6.5–7% year-over-year); Adjusted EBITDA: $15.1M (up 38%); net loss to common shareholders: ($0.3M).

  • Cash and equivalents at June 30, 2025: $174.9M–$176.6M, up from year-end 2024.

  • Free cash flow for the first half of 2025 was $28.7M, up from $16.6M prior year.

  • Q2 2025 EPS: ($0.02) basic and diluted; six months EPS: $0.40 basic, $0.39 diluted.

  • Operating margin improved to 4.3% from 1.5% year-over-year; adjusted margin 5.4%.

Outlook and guidance

  • Full-year 2025 revenue guidance maintained at $650M–$660M (4–6% growth); Adjusted EBITDA guidance raised to $81M–$88M.

  • Full-year net income guidance: $18M–$24M, reflecting one-time losses.

  • Q3 2025 revenue expected at $159M–$161M; Adjusted EBITDA at $15M–$17M.

  • CapEx for 2025 expected at $18M–$22M; free cash flow projected at $59M–$70M.

  • Tuition increases planned for RU and HCN in late 2025/early 2026; APUS tuition remains competitive.

Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.

Next American Public Education earnings date

Logotype for American Public Education Inc
Q3 202511 Nov, 2025
Your earnings 
season toolkit.
Download
Free on both iOS & Android.

Next American Public Education earnings date

Logotype for American Public Education Inc
Q3 202511 Nov, 2025

The essential earnings season companion

The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

Live calls and transcripts

Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.

Find what you need faster

Search for any keyword across all transcripts simultaneously.

Easily store key findings

Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Your watchlist. Your dashboard.

Follow the companies that matter to you. Get a personalized feed with real-time updates.

Be the first to know

Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.

Consensus estimates

Access analyst consensus estimates, valuation multiples, and revenue segments splits.

All IR material in one place

The easiest way to stay updated during earnings season.

Global coverage

All events from public companies. Live and recorded.

Just click and listen

No webcast links. No manual registrations.

Research anytime, anywhere

Built for professionals. Loved by everyone. Try our free mobile app.

excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com

Frequently asked questions

American Public Education Inc provides online and on-campus higher education programs primarily targeting military and public service communities. The company operates through institutions such as American Public University System and Hondros College of Nursing. American Public Education offers degrees, certificates, and professional development programs. The company is headquartered in Charles Town, West Virginia, and its shares are listed on the NASDAQ.

Quartr provides global coverage of all investor relation material from public companies.

  • Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

  • Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.

  • Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.

Yes, the Quartr mobile app is free on both iOS and Android.

Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.

Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.

Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.

Explore our global coverage