American Public Education Inc. (APEI) Financial Statements (2025 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)
| 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 116,660 | ||||||||
| Cash and cash equivalent | 116,660 | ||||||||
| Restricted cash and investments | 2,700 | 2,000 | 2,200 | 1,200 | 1,300 | 1,700 | |||
| Receivables | 51,447 | 45,224 | 41,329 | 17,652 | 13,082 | 14,957 | |||
| Prepaid expense | 13,032 | 11,409 | 11,681 | 6,472 | 7,087 | 5,482 | |||
| Asset, held-for-sale, not part of disposal group | 8,561 | ||||||||
| Other undisclosed current assets | 24,982 | 127,458 | 147,427 | 226,486 | 201,440 | 210,431 | |||
| Total current assets: | 217,382 | 186,091 | 202,637 | 251,810 | 222,909 | 232,570 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 100,023 | 108,870 | 77,943 | 8,743 | 11,658 | ✕ | |||
| Property, plant and equipment | 87,503 | 100,892 | 102,417 | 68,434 | 78,495 | 86,881 | |||
| Long-term investments and receivables | 10,495 | 10,502 | 11,966 | ||||||
| Long-term investments | 10,495 | 10,502 | 11,966 | ||||||
| Intangible assets, net (including goodwill) | 91,132 | 167,327 | 328,568 | 26,563 | 26,563 | 33,899 | |||
| Goodwill | 59,593 | 112,593 | 243,486 | 26,563 | 26,563 | 33,899 | |||
| Intangible assets, net (excluding goodwill) | 31,539 | 54,734 | 85,082 | ||||||
| Deferred income tax assets | 51,360 | 35,355 | ✕ | ||||||
| Other noncurrent assets | 9,986 | 16,521 | 14,043 | 4,973 | 4,770 | 5,642 | |||
| Total noncurrent assets: | 340,004 | 428,965 | 522,971 | 119,208 | 131,988 | 138,388 | |||
| TOTAL ASSETS: | 557,386 | 615,056 | 725,608 | 371,018 | 354,897 | 370,958 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 20,139 | 17,592 | 39,447 | 30,562 | 25,569 | 26,018 | |||
| Taxes payable | ✕ | ✕ | ✕ | 178 | |||||
| Employee-related liabilities | ✕ | ✕ | ✕ | 15,131 | 15,660 | 13,753 | 13,100 | ||
| Accounts payable | 8,663 | 3,808 | 13,497 | 3,757 | 3,546 | 9,110 | |||
| Accrued liabilities | 11,476 | 13,784 | 10,819 | 10,967 | 8,270 | 3,808 | |||
| Deferred revenue | 23,830 | 23,760 | 21,776 | 22,104 | 17,426 | ✕ | |||
| Debt | 111 | 107 | 8,750 | 2,283 | |||||
| Contract with customer, liability | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 18,310 | ||
| Other undisclosed current liabilities | 29,909 | 29,299 | 13,705 | 2,392 | |||||
| Total current liabilities: | 73,989 | 70,758 | 83,678 | 55,058 | 45,278 | 44,328 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 94,682 | 93,262 | 221,259 | 6,455 | 9,495 | ||||
| Long-term debt, excluding current maturities | 94,682 | 93,151 | 151,771 | ||||||
| Finance lease, liability | 111 | ✕ | |||||||
| Liabilities, other than long-term debt | 96,739 | 101,309 | 5,059 | 2,580 | 3,391 | ||||
| Deferred income tax liabilities | 5,059 | 2,580 | 3,391 | ✕ | |||||
| Operating lease, liability | 96,739 | 101,309 | 69,488 | 6,455 | 9,495 | ✕ | |||
| Other undisclosed noncurrent liabilities | 5,364 | ||||||||
| Total noncurrent liabilities: | 191,421 | 194,571 | 226,318 | 9,035 | 12,886 | 5,364 | |||
| Total liabilities: | 265,410 | 265,329 | 309,996 | 64,093 | 58,164 | 49,692 | |||
| Equity | |||||||||
| Equity, attributable to parent, including: | 291,976 | 349,727 | 415,612 | 306,925 | 296,733 | 321,266 | |||
| Preferred stock | 39,691 | ||||||||
| Common stock | 176 | 189 | 187 | 148 | 152 | 164 | |||
| Additional paid in capital | 299,561 | 292,854 | 286,385 | 195,597 | 190,620 | 187,172 | |||
| Accumulated other comprehensive income (loss) | 1,644 | 3,102 | 108 | ||||||
| Retained earnings (accumulated deficit) | (49,096) | 13,891 | 128,932 | 111,180 | 105,961 | 133,930 | |||
| Other undisclosed equity, attributable to parent | 39,691 | ||||||||
| Total equity: | 291,976 | 349,727 | 415,612 | 306,925 | 296,733 | 321,266 | |||
| TOTAL LIABILITIES AND EQUITY: | 557,386 | 615,056 | 725,608 | 371,018 | 354,897 | 370,958 | |||
Income Statement (P&L) ($ in thousands)
| 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 600,545 | 606,328 | 418,803 | 321,785 | 286,270 | 297,687 | ||
| Cost of revenue (Cost of Product and Service Sold) | (292,862) | (288,472) | (172,622) | (122,161) | (111,916) | (115,280) | ||
| Gross profit: | 307,683 | 317,856 | 246,181 | 199,624 | 174,354 | 182,407 | ||
| Operating expenses | (355,989) | (455,204) | (215,810) | (174,867) | (161,598) | (149,881) | ||
| Operating income (loss): | (48,306) | (137,348) | 30,371 | 24,757 | 12,756 | 32,526 | ||
| Interest and debt expense | (100) | (3,900) | ||||||
| Other undisclosed income (loss) from continuing operations before equity method investments, income taxes | (4,359) | (10,000) | (4,277) | 1,092 | 3,908 | 2,915 | ||
| Income (loss) from continuing operations before equity method investments, income taxes: | (52,765) | (151,248) | 26,094 | 25,849 | 16,664 | 35,441 | ||
| Loss from equity method investments | (5,236) | (21) | (831) | (7) | ||||
| Income (loss) from continuing operations before income taxes: | (58,001) | (151,269) | 25,263 | 25,842 | 16,664 | 35,441 | ||
| Income tax expense (benefit) | 10,715 | 36,276 | (7,511) | (7,020) | (5,187) | (9,287) | ||
| Income (loss) from continuing operations: | (47,286) | (114,993) | 17,752 | 18,822 | 11,477 | 26,154 | ||
| Income before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | 17,752 | 18,822 | 11,477 | 26,154 | |
| Net income (loss): | (47,286) | (114,993) | 17,752 | 18,822 | 11,477 | 26,154 | ||
| Other undisclosed net loss attributable to parent | (1,464) | (515) | ||||||
| Net income (loss) attributable to parent: | (47,286) | (114,993) | 17,752 | 18,822 | 10,013 | 25,639 | ||
| Preferred stock dividends and other adjustments | (6,008) | (48) | ||||||
| Net income (loss) available to common stockholders, diluted: | (53,294) | (115,041) | 17,752 | 18,822 | 10,013 | 25,639 | ||
Comprehensive Income ($ in thousands)
| 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (47,286) | (114,993) | 17,752 | 18,822 | 11,477 | 26,154 | ||
| Comprehensive income (loss): | (47,286) | (114,993) | 17,752 | 18,822 | 11,477 | 26,154 | ||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | (1,458) | 2,994 | 108 | |||||
| Comprehensive income (loss), net of tax, attributable to parent: | (48,744) | (111,999) | 17,860 | 18,822 | 11,477 | 26,154 | ||
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.