secwatch.observer — SEC 8-K summary
======================================

Issuer:     AMERICAN PUBLIC EDUCATION INC (APEI)
CIK:        0001201792
Form:       8-K
Filed at:   2021-08-09T23:59:59+00:00
Accession:  0001104659-21-102148
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

American Public Education Q2 revenue down 5%; EPS $0.03 vs $0.45; APUS registrations drop 8%
--------------------------------------------------------------------------------

- Consolidated revenue $78.0M (-5% YoY); net income $0.5M ($0.03 diluted EPS) vs $6.7M ($0.45) in Q2 2020.
- Adjusted EBITDA $9.9M, down 36% from $15.5M; cash & equivalents $317.0M (includes $86.2M from public offering).
- APUS net course registrations fell 8% to 82,600; HCN enrollment rose 36% to record 2,380.
- CEO cites Army IgnitED portal outage as key headwind for APUS; Rasmussen acquisition on track to close in Q3.
- Diluted share count increased to 18.8M from 14.9M due to March 2021 public offering of 3.68M shares.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1201792/000110465921102148/0001104659-21-102148-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1201792/000110465921102148/tm2124519d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-21-102148

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer