American Public Education Reports Q3 2025 Results Exceeding Guidance, Corrects FY2025 Net Income Guidance

AMERICAN PUBLIC EDUCATION INC

Consolidated Q3 revenue rose 7% YoY to $163.2M; net income surged to $5.6M from $0.7M in Q3 2024.
Adjusted EBITDA increased 60% to $20.7M; cash from operations rose 56% to $73.5M.
Enrollment grew 8.1% at APUS, 10.4% at Rasmussen University, and 17.6% at Hondros College of Nursing.
Edward H. Codispoti joined as EVP and CFO effective October 20, 2025; GSUSA was sold in July 2025.
Corrected full year 2025 net income guidance was updated; company has $193.1M cash and no net debt.

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