American Public Education Inc. (APEI) Financial Statements (2024 and earlier)

Company Profile

Business Address 111 W CONGRESS STREET
CHARLES TOWN, WV 25414
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 82 - Educational Services (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments     179,205
Cash and cash equivalents     179,205
Restricted cash and investments2,0002,2001,2001,3001,700 
Receivables45,22441,32917,65213,08214,9577,136
Prepaid expense11,40911,6816,4727,0875,4824,792
Asset, held-for-sale, not part of disposal group      
Other undisclosed current assets127,458147,427226,486201,440210,431 
Total current assets:186,091202,637251,810222,909232,570191,133
Noncurrent Assets
Operating lease, right-of-use asset108,87077,9438,74311,658
Property, plant and equipment100,892102,41768,43478,49586,88192,374
Long-term investments and receivables   10,49510,50211,96612,481
Long-term investments   10,49510,50211,96612,481
Intangible assets, net (including goodwill)167,327328,56826,56326,56333,89933,899
Goodwill112,593243,48626,56326,56333,89933,899
Intangible assets, net (excluding goodwill)54,73485,082    
Deferred income tax assets35,355   
Other noncurrent assets16,52114,0434,9734,7705,6429,151
Total noncurrent assets:428,965522,971119,208131,988138,388147,905
TOTAL ASSETS:615,056725,608371,018354,897370,958339,038
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities17,59239,44730,56225,56926,01823,977
Taxes payable 178  1,710
Employee-related liabilities15,13115,66013,75313,100 
Accounts payable3,80813,4973,7573,5469,1108,844
Accrued liabilities13,78410,81910,9678,2703,80813,423
Deferred revenue23,76021,77622,10417,426
Debt1078,750 2,283  
Deferred revenue and credits19,374
Contract with customer, liability18,310
Other undisclosed current liabilities29,29913,7052,392   
Total current liabilities:70,75883,67855,05845,27844,32843,351
Noncurrent Liabilities
Long-term debt and lease obligation93,262221,2596,4559,495  
Long-term debt, excluding current maturities93,151151,771    
Finance lease, liability 111   
Liabilities, other than long-term debt101,3095,0592,5803,391  
Deferred income tax liabilities  5,0592,5803,391
Operating lease, liability101,30969,4886,4559,495
Other undisclosed noncurrent liabilities     5,3646,281
Total noncurrent liabilities:194,571226,3189,03512,8865,3646,281
Total liabilities:265,329309,99664,09358,16449,69249,632
Equity
Equity, attributable to parent, including:349,727415,612306,925296,733321,266289,406
Preferred stock      
Common stock189187148152164163
Additional paid in capital292,854286,385195,597190,620187,172180,674
Accumulated other comprehensive income3,102108    
Retained earnings (accumulated deficit)13,891128,932111,180105,961133,930108,569
Other undisclosed equity, attributable to parent 39,691     
Total equity:349,727415,612306,925296,733321,266289,406
TOTAL LIABILITIES AND EQUITY:615,056725,608371,018354,897370,958339,038

Income Statement (P&L) ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues606,328418,803321,785286,270297,687299,248
Revenue, net299,248
Cost of revenue(288,472)(172,622)(122,161)(111,916)(115,280)(116,161)
Cost of goods and services sold(288,472)(172,622)(122,161)(111,916)(115,280) 
Gross profit:317,856246,181199,624174,354182,407183,087
Operating expenses(455,204)(215,810)(174,867)(161,598)(149,881)(148,228)
Operating income (loss):(137,348)30,37124,75712,75632,52634,859
Interest and debt expense(3,900)     
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes(10,000)(4,277)1,0923,9082,915185
Income (loss) from continuing operations before equity method investments, income taxes:(151,248)26,09425,84916,66435,44135,044
Loss from equity method investments(21)(831)(7)  (2,430)
Income (loss) from continuing operations before income taxes:(151,269)25,26325,84216,66435,44132,614
Income tax expense (benefit)36,276(7,511)(7,020)(5,187)(9,287)(11,493)
Income (loss) from continuing operations:(114,993)17,75218,82211,47726,15421,121
Income before gain (loss) on sale of properties:17,75218,82211,47726,15421,121
Net income (loss):(114,993)17,75218,82211,47726,15421,121
Other undisclosed net loss attributable to parent    (1,464)(515) 
Net income (loss) attributable to parent:(114,993)17,75218,82210,01325,63921,121
Preferred stock dividends and other adjustments(48)     
Net income (loss) available to common stockholders, diluted:(115,041)17,75218,82210,01325,63921,121

Comprehensive Income ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income (loss):(114,993)17,75218,82211,47726,15421,121
Comprehensive income (loss):(114,993)17,75218,82211,47726,15421,121
Other undisclosed comprehensive income (loss), net of tax, attributable to parent2,994108    
Comprehensive income (loss), net of tax, attributable to parent:(111,999)17,86018,82211,47726,15421,121

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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