APEI Q1 revenue up 6.2% to $174.7M, net income +137.6%; raises FY2026 guidance

AMERICAN PUBLIC EDUCATION INC

2026-Q1 EPS reported $0.94 vs consensus $0.68 ▲ beat (+38.3%)

Net income $17.7M ($0.94 diluted EPS) vs $7.5M ($0.41) a year ago; adjusted EBITDA $29.2M (+37.5%).
Military+ segment revenue +6.5% to $89.4M on 4% higher registrations; Health+ revenue +11.0% to $85.4M.
Received HLC approval to consolidate APUS, Rasmussen, Hondros into single institution; on track for Q3 2026.
Raised FY2026 guidance: revenue $686-696M, adj. EBITDA $93-102M, diluted EPS $2.33-$2.68.
Debt refinancing cut rate by 375 bps, saving ~$3.7M annual interest; $50M share repurchase authorized.

item 2.02item 9.01

Source: SEC EDGAR

accession 0001104659-26-058617

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