Press release
American Public Education Reports Fourth Quarter and Full Year 2024 Financial Results
Net Income & Adjusted EBITDA Exceeded Guidance, Driven by Improvement in APUS, Rasmussen and Hondros College of Nursing Segments CHARLES TOWN, W.Va., March 6,
About this update from American Public Education, Inc.
[{"type":"text","content":"Net Income & Adjusted EBITDA Exceeded Guidance, Driven by Improvement in APUS, Rasmussen and Hondros College of Nursing Segments\nCHARLES TOWN, W.Va., March 6, 2025 /PRNewswire/ -- American Public Education, Inc. (Nasdaq: APEI), a portfolio of education companies providing online and campus-based postsecondary education and career learning to over 125,000 students through four subsidiary institutions, has reported unaudited financial and operational results for the fourth quarter ended December 31, 2024.\n\n \n \n \n \n \n \n\n \nKey Fourth Quarter 2024 Highlights\nConsolidated revenue for Q4 2024 increased 7.4% year-over-year to $164.1 million.Net income available to common stockholders in Q4 2024 was $11.5 million, essentially in line with net income available to common stockholders of $11.5 million in Q4 2023.Net income per diluted common share in Q4 2024 was $0.63, compared to net income per diluted common share of $0.64 in Q4 2023.Q4 2024 Adjusted EBITDA was $31.4 million compared to $25.7 million in Q4 2023.Key Q1 and Full Year 2025 Guidance Highlights\nQ1 2025 enrollments at Rasmussen, which were known at the end of Q4, increased to 14,500, or 6.8% compared to Q1 2024.Establishing guidance for full year 2025 revenue of a range between $650 million and $660 million and Adjusted EBITDA between $75 million and $85 million.Management Commentary\n\"We are very pleased with APEI's full year 2024 results, with revenue growing 4% and Adjusted EBITDA growing 21% as compared to 2023,\" said Angela Selden, President and Chief Executive Officer of APEI. \"Additionally, in the fourth quarter of 2024, revenue, earnings per share and Adjusted EBITDA all exceeded the top end of our guidance.\"\n\"As we look to 2025, we intend to simplify and strengthen both our military and healthcare divisions. As we close underperforming campuses, sell buildings and terminate several long-term contracts, we expect these changes to simplify our operating structure and improve our long-term financial results,\" concluded Selden.\nFourth Quarter 2024 Financial Results\nTotal consolidated revenue for the three months ended December 31, 2024, was $164.1 million, an increase of $11.3 million, or 7.4%, compared to $152.8 million for the three months ended December 31, 2023. The increase in revenue was primarily due to a $4.9 million increase in revenue in our...