American Public Education, Inc. · NASDAQ:APEI
American Public Education — Investor Presentation (September 2022)
7 slides from American Public Education's investor presentation, Sep 22, 2022
Slide 1: Supplemental Financial Information September 2022
PRESENTED BY Angela Selden President and CEO Richard Sunderland, CPA Executive VP and CFO American Public Education, Inc. Supplemental Financial Information September 2022
Slide 2: Safe Harbor Statement
Safe Harbor Statement Please note that statements made in this presentation regarding American Public Education, Inc . and its subsidiaries (the “Company”) that are not historical facts may be forward - looking statements based on current expectations, assumptions, estimates and projections about th
Slide 3: Executive Summary
Executive Summary 3 □ APEI is initiating second half and full year 2022 guidance □ Improving enrollment momentum seen across all education units: • Rasmussen: Positive 4Q22 YoY new student momentum by shifting to in - house marketing • APUS: Positive 3Q22 YoY new and total student registrations • Ho
Slide 4: Rasmussen Financial Bridge (PF21 to FY22)
$35.5 $15.0 $6.0 $2.0 $23.0 $(4.7) PF 2021 Adj. EBITDA Gross Profit Incremental Discretionary Advertising 2022 Adj. EBITDA Annualized Cost Savings Non-recurring Marketing Pro forma 2022 Adj. EBITDA $(15.8) ($4.1) ($7.4) ($4.3) Rasmussen Financial Bridge (PF21 to FY22) Rasmussen Pro forma 2021 vs. 20
Slide 5: APEI 2022 Guidance Summary
$31.9 $24.1 $56.0 $15.0 $2.0 $73.0 1H 2022 (Actual) 2H 2022 (Guidance) FY 2022 (Guidance) APEI Annualized Cost Savings & One-time Items Rasmussen non-recurring Marketing Pro forma 2022 Adj. EBITDA $21.1 - $27.1 $53 .0 - $59.0 $70.0 - $76.0 • Consolidated APEI revenue of $600MM to $610MM APEI 2022 Gu
Slide 6: APEI Consolidated Financial Bridge (PF 2021 to 2022 Forecast)
$55.0 $9.7 $90.5 $(20.5) +$6.0 $(6.2) $(13.8) $56.0 $15.0 $2.0 $73.0 $25.8 2021 (ex. Ras) 2021 (Rasmussen) 2021 (pro forma) Rasmussen APUS Hondros Corporate & Other FY 2022 (midpoint) APEI Annualized Cost Savings & One-time Items Rasmussen Non-recurring Marketing Pro forma 2022 (midpoint) Ras pre -
Slide 7: Appendix: Non-GAAP Reconciliation
Appendix: Non - GAAP Reconciliation 7 American Public Education is presenting adjusted EBITDA and encourages investors to review the reconciliation of projected adjusted operating income to the comparable GAAP financial measure that is included in the table below (under the caption “GAAP Outlook Ope
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