---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-058617"
form_type: "8-K"
ticker: "APEI"
cik: "0001201792"
company_name: "AMERICAN PUBLIC EDUCATION INC"
filed_at: "2026-05-11T20:01:56+00:00"
generated_at: "2026-05-11T23:03:43.441362+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-26-058617
- form_type: 8-K
- ticker: APEI
- cik: 0001201792
- company_name: AMERICAN PUBLIC EDUCATION INC
- filed_at: 2026-05-11T20:01:56+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1201792/000110465926058617/0001104659-26-058617-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1201792/000110465926058617/tm2613959d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-058617
- JSON: https://secwatch.observer/filing/0001104659-26-058617.json
- Plain text: https://secwatch.observer/filing/0001104659-26-058617.txt

## Key facts
- Earnings Releases
  AMERICAN PUBLIC EDUCATION INC reported the first quarter ended March 31, 2026 results: revenue $174.7 million, net income $17.7 million, EPS $0.94. Guidance raised.
  - Period: the first quarter ended March 31, 2026
  - Revenue: $174.7 million
  - Net income: $17.7 million
  - EPS: $0.94
  - Guidance: raised
  - Result: reported results
  source text: foundation is built, the strategy is working, and we are just getting started.” Key First Quarter 2026 Highlights (as Compared to First Quarter 2025) · Consolidated revenue of $174.7 million, a 6.2% year-over year increase. o Excluding the effect of the sale of GSUSA in July 2025, consolidated revenue would have increased 8.7% when compared to the prior period. o
  evidence_url: https://www.sec.gov/Archives/edgar/data/1201792/000110465926058617/0001104659-26-058617-index.htm

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