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)

3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments116,660127,859112,804   
Cash and cash equivalents116,660127,859112,804   
Restricted cash and investments2,7002,3001,6002,2002,0001,800
Receivables51,44733,21934,15742,26245,22431,689
Prepaid expense13,03214,75215,41617,43411,40911,484
Asset, held-for-sale, not part of disposal group8,561     
Other undisclosed current assets24,98224,99524,999133,961127,458183,700
Total current assets:217,382203,125188,976195,857186,091228,673
Noncurrent Assets
Operating lease, right-of-use asset100,023101,632105,155108,048108,870110,096
Property, plant and equipment87,50398,46099,592100,285100,89299,546
Long-term investments and receivables      60,687
Long-term investments      60,687
Intangible assets, net (including goodwill)91,13292,38995,438163,383167,327112,593
Goodwill59,59359,59359,593112,593112,593112,593
Intangible assets, net (excluding goodwill)31,53932,79635,84550,79054,734 
Deferred income tax assets51,36048,66652,68834,66735,35532,361
Other noncurrent assets9,98610,99916,95816,28216,52116,871
Total noncurrent assets:340,004352,146369,831422,665428,965432,154
TOTAL ASSETS:557,386555,271558,807618,522615,056660,827
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:20,13920,18118,88820,58017,59226,577
Accounts payable8,6637,9765,6576,7973,808 
Accrued liabilities11,47612,20513,23113,78313,784 
Other undisclosed accounts payable and accrued liabilities      26,577
Deferred revenue23,83029,24328,55328,86623,76027,585
Debt1111091091081078,857
Other undisclosed current liabilities29,90932,74331,64029,77229,29932,819
Total current liabilities:73,98982,27679,19079,32670,75895,838
Noncurrent Liabilities
Long-term debt and lease obligation94,68294,34493,99793,64193,262147,070
Long-term debt, excluding current maturities94,68294,31693,94193,55793,151147,070
Finance lease, liability 285684111 
Liabilities, other than long-term debt96,73997,261100,740102,642101,309 
Operating lease, liability96,73997,261100,740102,642101,309 
Other undisclosed noncurrent liabilities      102,567
Total noncurrent liabilities:191,421191,605194,737196,283194,571249,637
Total liabilities:265,410273,881273,927275,609265,329345,475
Equity
Equity, attributable to parent, including:291,976281,390284,880342,913349,727315,352
Preferred stock39,69139,69139,69139,691  
Common stock176178178190189189
Additional paid in capital299,561297,848296,142294,082292,854291,552
Accumulated other comprehensive income1,6442,5372,8802,6273,1023,137
Retained earnings (accumulated deficit)(49,096)(58,864)(54,011)6,32313,89120,474
Other undisclosed equity, attributable to parent     39,691 
Total equity:291,976281,390284,880342,913349,727315,352
TOTAL LIABILITIES AND EQUITY:557,386555,271558,807618,522615,056660,827

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

3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
Revenues152,804150,838147,214149,689152,438149,535
Cost of revenue
(Cost of Goods and Services Sold)
(70,747)(73,228)(74,998)(73,889)(72,868)(71,817)
Gross profit:82,05777,61072,21675,80079,57077,718
Operating expenses(66,125)(71,210)(137,484)(81,170)(79,832)(78,744)
Operating income (loss):15,9326,400(65,268)(5,370)(262)(1,026)
Interest and debt expense(73)(27)(30)(30)(3,820)(30)
Other undisclosed loss from continuing operations before equity method investments, income taxes(718)(765)(1,067)(1,749)(3,569)(3,564)
Income (loss) from continuing operations before equity method investments, income taxes:15,1415,608(66,365)(7,149)(7,651)(4,620)
Loss from equity method investments(3)(5,224)(4)(5)(8)(2)
Income (loss) from continuing operations before income taxes:15,138384(66,369)(7,154)(7,659)(4,622)
Income tax expense (benefit)(2,124)(3,712)15,1371,4141,124860
Income (loss) from continuing operations:13,014(3,328)(51,232)(5,740)(6,535)(3,762)
Loss before gain (loss) on sale of properties:(3,762)
Net income (loss) attributable to parent:13,014(3,328)(51,232)(5,740)(6,535)(3,762)
Preferred stock dividends and other adjustments(1,539)(1,525)(1,487)(1,457)  
Other undisclosed net loss available to common stockholders, basic     (48) 
Net income (loss) available to common stockholders, diluted:11,475(4,853)(52,719)(7,197)(6,583)(3,762)

Comprehensive Income ($ in thousands)

3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
Net income (loss):13,014(3,328)(51,232)(5,740)(6,535)(3,762)
Comprehensive income (loss):13,014(3,328)(51,232)(5,740)(6,535)(3,762)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(893)(343)253(475)(35)1,195
Comprehensive income (loss), net of tax, attributable to parent:12,121(3,671)(50,979)(6,215)(6,570)(2,567)

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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