secwatch.observer — SEC 8-K summary
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Issuer:     AMERICAN PUBLIC EDUCATION INC (APEI)
CIK:        0001201792
Form:       8-K
Filed at:   2022-05-10T23:59:59+00:00
Accession:  0001104659-22-058236
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

APEI Q1 revenue up 75% to $154.7M; net income falls to $5.3M on acquisition costs and interest
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- Consolidated revenue $154.7M (+75% YoY) driven by Rasmussen University ($67.1M) and GSUSA ($3.1M) acquisitions.
- Net income $5.3M ($0.28 diluted EPS) vs $8.1M ($0.49) in prior year; adjusted EBITDA rose 8.5% to $17.4M.
- APUS revenue fell 5.7% to $4.4M despite 1.2% enrollment increase; Rasmussen enrollment down 6.4% to 16,200.
- GSUSA acquisition closed Jan 1, 2022 for $1.0M, producing a $4.5M noncash gain; no goodwill recorded.
- Army AR of $19.4M remains outstanding; Q2 2022 outlook provided but not detailed in release.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1201792/000110465922058236/0001104659-22-058236-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1201792/000110465922058236/tm2214790d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-058236

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