---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-109265"
form_type: "8-K"
ticker: "APEI"
cik: "0001201792"
company_name: "AMERICAN PUBLIC EDUCATION INC"
filed_at: "2025-11-10T23:59:59+00:00"
generated_at: "2026-05-16T22:16:00.925534+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-25-109265
- form_type: 8-K
- ticker: APEI
- cik: 0001201792
- company_name: AMERICAN PUBLIC EDUCATION INC
- filed_at: 2025-11-10T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1201792/000110465925109265/0001104659-25-109265-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1201792/000110465925109265/tm2530440d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-109265
- JSON: https://secwatch.observer/filing/0001104659-25-109265.json
- Plain text: https://secwatch.observer/filing/0001104659-25-109265.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.