Slide 1: American Public Education, Inc. First Quarter 2021 Results
American Public Education, Inc. First Quarter 2021 Results PRESENTED BY Angela Selden President and CEO Richard Sunderland, CPA Executive VP and CFO
Slide 2: Safe Harbor Statement
Safe Harbor Statement Statements made in this presentation regarding APEI or its subsidiaries that are not historical facts are forward-looking statements based on current expectations, assumptions, estimates and projections about APEI and the industry. In some cases, forward-looking statements can
Slide 3: First Quarter 2021 Operational Highlights
First Quarter 2021 Operational Highlights Sixth Consecutive Quarter of YoY Enrollment Growth at APUS & Record Enrollment at HCN APUS Net Course Registrations. Record Enrollment at Hondros. • New student registrations increased 14% • New and total enrollment increased 45% • Total enrollment of 2,300
Slide 4: First Quarter 2021 Financial Highlights
First Quarter 2021 Financial Highlights APEI’s Net Income More Than Doubled to $0.49 Per Diluted Share, Compared to Prior Year 18.7% 235% 87% $124MM Increase in Increase in Increase in Increase in Consolidated Adjusted Cash and Net Income Revenue EBITDA Equivalents to $8.1MM to $88.5MM to $15.9MM $3
Slide 5: Building A National Nursing Platform
Building A National Nursing Platform APEI to Become #1 in Creating New Nurses with Rasmussen (Pre-licensure) Hondros enrollment momentum continues with 36% YoY enrollment growth expected in 2Q’21. Hondros College of Nursing + Rasmussen University = National Nursing Platform ✓ Licensed Practical Nurs
Slide 6: Second Quarter '21 Update
Second Quarter ‘21 Update APUS Total NCR Army Registration Disruption ➢ Army soldiers request tuition assistance (TA) for any institution through the Army education portal. ➢ New portal was scheduled to launch on March 8th and 89,600 is delayed and not yet operational. 86,900 75,900 ➢ Army’s transit
Slide 7: APEI's Financial & Operational Outlook
APEI’s Financial & Operational Outlook These statements are based on current expectations. These statements are forward-looking and actual results may differ materially. Second Quarter 2021 Approximate Y/Y Change Adversely impacted by APUS Net course registrations1 -8% to -4% the temporary suspensio
Slide 8: Priorities for 2021 – Maximize Learner HEROI
Priorities for 2021 – “Maximize Learner HEROI ” TM A Durable, High-Quality Scale Platform w/ Organic and Inorganic Growth Opportunities; Operating Margin Improvement Driven by Growth, Enterprise Transformation and Shared Services; New Leadership w/ Demonstrated Track Record Growth Integration Transf
Slide 9: Thank You
Thank You 9
Slide 10: Appendix
APPENDIX Three Months Ended March 31, 2021 2020 COSTS AND EXPENSES Instructional costs and services 36.5% 39.2% Selling and promotional 21.9% 24.4% General and administrative 26.6% 28.1% Loss on disposals of long-lived assets — 0.2% Depreciation and amortization 3.0% 4.5% Total costs and expenses 88
Slide 11: Appendix: Disclosures (Continued)
APPENDIX: DISCLOSURES (CONTINUED) American Public Education is presenting adjusted EBITDA in connection with its GAAP results and urges investors to review the reconciliation of adjusted net income to the comparable GAAP financial measures that is included in the table below (under the caption “GAAP
Slide 12: Appendix: Disclosures (Continued)
APPENDIX: DISCLOSURES (CONTINUED) American Public Education is presenting adjusted EBITDA in connection with its GAAP outlook and urges investors to review the reconciliation of adjusted net income to the comparable GAAP financial measures that is included in the table below (under the caption “GAAP