APEI Q3 net loss narrows to $3.3M; adjusted EBITDA up 91% to $18.1M

AMERICAN PUBLIC EDUCATION INC

2023-Q3 EPS reported -$3.54 revenue$447,741,000

Consolidated revenue $150.8M (+0.9% YoY); net loss $3.3M vs $3.8M loss prior year.
Adjusted EBITDA $18.1M (+91.4% YoY) on cost controls; selling expenses down 18.6%.
APUS net course registrations +8% YoY; Hondros enrollment +17%; Rasmussen enrollment -10%.
Cash and cash equivalents $155.2M, up 19.9% from Dec 2022; $5.2M non-cash write-off on equity investment.

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 quarter ended September 30, 2023 results: revenue $150.8 million, net income Net loss was $3.3 million, EPS Net loss per diluted common share was $0.27.

Period: quarter ended September 30, 2023
Revenue: $150.8 million
Net income: Net loss was $3.3 million
EPS: Net loss per diluted common share was $0.27
Result: reported results

Exact text from the filing

· Consolidated revenue increased 0.9% year-over-year to $150.8 million. · Net loss was $3.3 million, compared to net loss of $3.8 million in the prior year period. The loss includes a $5.2 million non-cash investment loss on a 2012 APEI minority equity investment in a company that has entered into an agreement to be sold resulting in no proceeds to APEI. · Net loss per diluted common share was $0.27, compared to a net loss per diluted common share of $0.20 in the same period of 2022.

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Source: SEC EDGAR

accession 0001104659-23-115232

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