APEI Q3 revenue $163.2M (+7% YoY), EPS $0.30, beat guidance; CFO appointed

AMERICAN PUBLIC EDUCATION INC

2025-Q3 EPS reported $0.68 vs consensus -$0.09 ▲ beat (+820.3%)

Revenue $163.2M (+7% YoY); net income $5.6M ($0.30 diluted EPS) vs $0.7M ($0.04) in Q3 2024.
Adjusted EBITDA $20.7M, up 60% YoY; all Q3 metrics exceeded top end of guidance.
Enrollment growth: APUS net course registrations +8.1%, Rasmussen +10.4%, HCN +17.6%.
Cash and equivalents $193.1M, no net debt; operating cash flow $73.5M, +56% YoY.
Edward H. Codispoti joined as EVP and CFO effective Oct 20, 2025.

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