APEI Q2 net loss $51.2M, revenue -1.6% to $147.2M; two directors won't seek re-election

AMERICAN PUBLIC EDUCATION INC

2023-Q2 EPS reported -$3.23 revenue$296,903,000

Net loss $51.2M ($2.93/share); adjusted loss $0.25/share; includes $64M non-cash Rasmussen goodwill impairment.
Revenue $147.2M -1.6% YoY; APUS +5.2%, HCN +24.2%, Rasmussen -18.7%.
Adjusted EBITDA $8.8M -39.6%; cash $139.4M; Army received $42M in H1 2023, including $20.9M prior-period catch-up.
Directors Halle and Kurshan will not stand for re-election at 2024 annual meeting; board to reduce size, no disagreement cited.

item 2.02 item 5.02 item 9.01

Executive movements

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Departed

Jean C. Halle

Director

APEI · AMERICAN PUBLIC EDUCATION INC

Filed: August 8, 2023, 7:59 PM ET

On August 8, 2023, Jean C. Halle and Barbara “Bobbi” L. Kurshan each informed the Company that they will not stand for re-election to the Board of Directors of the Company (the “Board”) at the Company’s 2024 Annual Meeting of Stockholders (the “2024 Annual Meeting”).

Departed

Barbara ‘Bobbi’ L. Kurshan

Director

APEI · AMERICAN PUBLIC EDUCATION INC

Filed: August 8, 2023, 7:59 PM ET

On August 8, 2023, Jean C. Halle and Barbara “Bobbi” L. Kurshan each informed the Company that they will not stand for re-election to the Board of Directors of the Company (the “Board”) at the Company’s 2024 Annual Meeting of Stockholders (the “2024 Annual Meeting”).

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Jean C. Halle departed as Director at AMERICAN PUBLIC EDUCATION INC.

Action: will not stand for re-election
Role: Director

Exact text from the filing

On August 8, 2023, Jean C. Halle and Barbara “Bobbi” L. Kurshan each informed the Company that they will not stand for re-election to the Board of Directors of the Company (the “Board”) at the Company’s 2024 Annual Meeting of Stockholders (the “2024 Annual Meeting”).

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Barbara ‘Bobbi’ L. Kurshan departed as Director at AMERICAN PUBLIC EDUCATION INC.

Action: will not stand for re-election
Role: Director

Exact text from the filing

On August 8, 2023, Jean C. Halle and Barbara “Bobbi” L. Kurshan each informed the Company that they will not stand for re-election to the Board of Directors of the Company (the “Board”) at the Company’s 2024 Annual Meeting of Stockholders (the “2024 Annual Meeting”).

View on SEC.gov

AMERICAN PUBLIC EDUCATION INC filing history →

Source: SEC EDGAR

accession 0001104659-23-088815

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