APEI Q4 revenue up 79% to $154M, net income $9.4M; Graduate School USA acquired

AMERICAN PUBLIC EDUCATION INC

Q4 2021 consolidated revenue $154.0M (+79.3% YoY), driven by Rasmussen inclusion and HCN growth.
Net income $9.4M ($0.50 diluted EPS) vs $7.1M ($0.47) in Q4 2020; adjusted EBITDA $29.3M (+85.5%).
Full year 2021 revenue $418.8M (+30.1%), net income $17.8M ($0.97 EPS), adjusted EBITDA $64.7M.
APUS net course registrations fell 2% YoY in Q4; HCN enrollment grew 17% to 2,510 students.
Completed acquisition of Graduate School USA for $1M on Jan 1, 2022, expanding federal workforce training.

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