secwatch.observer — SEC 8-K summary
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Issuer:     AMERICAN PUBLIC EDUCATION INC (APEI)
CIK:        0001201792
Form:       8-K
Filed at:   2023-03-14T23:59:59+00:00
Accession:  0001104659-23-032282
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1201792/000110465923032282/0001104659-23-032282-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1201792/000110465923032282/tm239230d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-032282

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