American Public Education (APEI) AGM 2026 summary

Opening remarks and agenda

• Meeting called to order with a focus on delivering high-quality, affordable, and accessible education, and a mission to transform lives and strengthen communities.

• Agenda included election of directors, advisory vote on executive compensation, and ratification of the independent auditor.

Financial performance review

• Health+ segment saw enrollment growth of 9% at Rasmussen University and 12% at Hondros College of Nursing in 2025.

• Revenue increased by 14% at Rasmussen University and 11% at Hondros College of Nursing.

• Military+ segment achieved full-year revenue growth despite a federal government shutdown.

• Total revenue for 2025 was $648.9 million, net income $25.3 million, adjusted EBITDA $85.7 million, and diluted EPS $1.36.

• Actions in 2025 generated $13.7 million in annualized savings starting in 2026, including preferred stock redemption, real estate sales, and debt refinancing.

Board and executive committee updates

• Directors present included Granetta Blevins, Michael Braner, Anna Fabrega, Angela Selden (CEO), Richard Statuto, and Daniel Pianko (Chair).

• Ed Codispoti (CFO) and representatives from Deloitte & Touche LLP were also present.