APEI Q4 net loss of $6.6M vs income $9.4M; revenue down 1%, EPS -$0.35

AMERICAN PUBLIC EDUCATION INC

Revenue fell 1.0% to $152.4M; net loss $6.6M compared to net income of $9.4M a year ago.
Adjusted EBITDA dropped 48% to $15.4M; EPS loss $0.35 vs income $0.50 in Q4 2021.
Rasmussen University enrollment decreased 9% to 15,600; HCN enrollment up 4% to 2,600.
Issued $40M preferred stock, used with cash to prepay $65M of long-term debt in December.
Cash and equivalents fell $20M to $102.6M; $26M due from Army ( $16.5M over 60 days ).

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

AMERICAN PUBLIC EDUCATION INC reported quarter ended December 31, 2022 (three months ended December 31, 2022) results: revenue $152.4 million, net income net loss available to common stockholders of $6.6 million, EPS $(0.35) per diluted share (net loss per diluted common share of $0.35).

Period: quarter ended December 31, 2022 (three months ended December 31, 2022)
Revenue: $152.4 million
Net income: net loss available to common stockholders of $6.6 million
EPS: $(0.35) per diluted share (net loss per diluted common share of $0.35)
Result: reported results

Exact text from the filing

Inc. (Nasdaq: APEI) announced financial results for the quarter ended December 31, 2022. Fourth Quarter Highlights: • Consolidated revenue decreased 1.0% year over year to $152.4 million • At December 31, 2022, total unrestricted cash and cash equivalents of approximately $102.6 million represents a decrease of $20.0 million from December 31, 2021 • Net loss

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Source: SEC EDGAR

accession 0001104659-23-032282

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