| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 174.74 | 6.2% |
| Total Income | 174.74 | 6.2% |
| Expenditure | 153.10 | 0.5% |
| PBT | 19.25 | 69.5% |
| Net Profit | 17.73 | 99.4% |
| OPM | 12.39% | 4.94pp |
| NPM | 10.15% | 4.74pp |
| EPS | 0.97 | 130.9% |
American Public Education Reports Q1 2026 Results, Raises 2026 Guidance
12 May 2026 · 12 May, 1:37 am
Summary
American Public Education, Inc. reported strong financial results for the first quarter ended March 31, 2026. Consolidated revenue increased by 6.2% year-over-year to $174.7 million. Net income available to common stockholders increased significantly by 137.6% to $17.7 million. Adjusted EBITDA also saw a substantial increase of 37.5% to $29.2 million. The company has raised its full-year 2026 guidance on both revenue and adjusted EBITDA.
Key Highlights
- 1
American Public Education's consolidated revenue for Q1 2026 was $174.7 million, representing a 6.2% year-over-year increase.
- 2
Excluding the effect of the sale of GSUSA in July 2025, consolidated revenue would have increased 8.7% compared to the prior period.
- 3
Health+ segment revenue grew by 11.0% year-over-year to $85.4 million, driven by increased enrollments and modest price increases.
- 4
Military+ segment revenue grew by 6.5% year-over-year to $89.4 million, primarily driven by increased registrations.
- 5
Net income available to common stockholders increased 137.6% to a record $17.7 million, compared to $7.5 million.
- 6
Adjusted EBITDA increased 37.5% to $29.2 million, compared to $21.2 million.
- 7
Net income per diluted common share increased 129.3% to $0.94, compared to $0.41.
Management Comments
Angela Selden
In the first quarter, we delivered strong results across our key financial metrics. We also took a significant step forward in the institutional combination when we received Higher Learning Commission approval on April 28 to consolidate our APUS, Rasmussen and Hondros College of Nursing programs, locations and operations into a single accredited institution. We remain on pace to complete our planned institutional combination at the start of the third quarter. Q1 2026 is the first quarter of a four-year strategic plan, and the strength of our results gives us the confidence to raise our full-year 2026 guidance on both revenue and adjusted EBITDA. We believe the foundation is built, the strategy is working, and we are just getting started.”
Informational and educational content only. Not investment advice.