APEI Q1 net loss $7.2M vs prior-year net income; revenue down 3.3% to $149.7M

AMERICAN PUBLIC EDUCATION INC

2023-Q1 EPS reported -$0.38 revenue$149,689,000

Net loss available to common stockholders of $7.2M ($0.38 per diluted share) vs net income of $5.3M ($0.28) a year ago.
Consolidated revenue fell 3.3% YoY to $149.7M, driven by 14.4% drop in Rasmussen segment revenue.
Adjusted EBITDA declined 59.7% to $7.0M, reflecting higher costs and transition fees from terminating Collegis contract.
APUS net course registrations up 2% YoY; Hondros total enrollment up 10%; Rasmussen enrollment down 12%.
Appointed Paula Singer as President of Rasmussen University to lead enrollment turnaround.

item 2.02 item 9.01

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 the three months ended March 31, 2023 results: revenue $149.7 million, net income loss available to common stockholders was $7.2 million, EPS loss per diluted common share was $0.38.

Period: the three months ended March 31, 2023
Revenue: $149.7 million
Net income: loss available to common stockholders was $7.2 million
EPS: loss per diluted common share was $0.38
Result: reported results

Exact text from the filing

31, 2023. First Quarter Highlights: · APUS, Hondros, and Graduate School all produced year-over-year enrollment growth · Consolidated revenue decreased 3.3% year-over-year to $149.7 million. · Total cash and cash equivalents was approximately $136.2 million, compared to $129.5 million as of December 31, 2022, representing an increase of $6.7 million or 5.2%. · Net

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Source: SEC EDGAR

accession 0001104659-23-057728

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