American Public Education, Inc. · NASDAQ:APEI
American Public Education — Q2 2022 Earnings Presentation
13 slides from American Public Education's earnings presentation, Aug 9, 2022
Slide 1: American Public Education, Inc. Second Quarter 2022 Results
American Public Education, Inc. Second Quarter 2022 Results August 9, 2022 PRESENTED BY AngelaSelden President andCEO Richard Sunderland, CPA Executive VP and CFO
Slide 2: Safe Harbor Statement
Safe Harbor Statement Please note that statements made in this presentation regarding American Public Education and its subsidiaries (the “Company”) that are not historical facts may be forward-looking statements based on current expectations, assumptions, estimates and projections about the Company
Slide 3: Table of Contents
Table of Contents 1. APEI and Education Unit Enrollment Updates 2. 2Q 2022 Financial Results & 3Q 2022 Outlook 3
Slide 4: APUS Registration and Education Unit Update
APUS Registration and Education Unit Update 2Q 2022 Forecast 3Q 2022 and Education Unit Update APUS Net Course Registrations • 3Q22 registrations of approximately 0% to +5% growth versus +1% prior year period, or between 83.1k and 87.2K enrollments 2021 2022 177.4K 175.6K • Strong military registrat
Slide 5: Rasmussen Enrollment and Education Unit Update
Rasmussen Enrollment and Education Unit Update 2Q 2022 Forecast 3Q 2022 and Education Unit Update Rasmussen Enrollment - 6% Enrollment 17,000 3Q'20 3Q'21 3Q'22 15,700 15,900 2 Yr Nursing 7,200 8,300 7,700 - 2% - 10% CAGR Non-Nursing 9,200 8,000 7,300 9,300 8,600 +1% Total 16,400 16,300 15,000 8,300
Slide 6: Hondros Enrollment and Education Unit Update
Hondros Enrollment and Education Unit Update 2Q 2022 Forecast 3Q 2022 and Education Unit Update 2020 HCN Enrollment • 3Q22 Hondros enrollment growth of 4% versus prior +3% 2 Yr 2021 +8% CAGR year comparable period, +11% 2-year CAGR. 2022 2,270 2,460 2,380 2,440 +18% • Initial phase 1 agreement with
Slide 7: Table of Contents
Table of Contents 1. APEI and Education Unit Enrollment Updates 2. 2Q 2022 Financial Results & 3Q 2022 Outlook 7
Slide 8: Second Quarter 2022 Financial Highlights
Second Quarter 2022 Financial Highlights Financial Summary Capitalization and Liquidity Three Months Ended Six Months Ended Dec. 31, 2021 Jun. 30, 2022 June 30, June 30, ($ in millions) 2021 2022 % Change 2021 2022 % Change Term Loan $172.8 $168.4 ($ in millions) Revolver, drawn $0.0 $0.0 APUS Reven
Slide 9: APEI’s 3Q 2022 Outlook
APEI’s 3Q 2022 Outlook These statements are based on current expectations. These statements are forward-looking and actual results may differ materially. 1 Third Quarter 2022 Guidance Full Year 2021 Guidance (Approximate) (% Yr/Yr Change) • Broader inflationary pressures 1,2 continue to increase fac
Slide 10: Thank You
Thank You
Slide 11: Appendix: Enrollment and Registration Summary
Appendix: Enrollment and Registration Summary 2Q 2022 2Q 2021 % Change APUS Registrations 83,500 82,600 1% Total Rasmussen Enrollment 15,900 16,900 -6% Rasmussen Nursing Enrollment 8,200 8,300 -2% Rasmussen Non-Nursing Enrollment 7,700 8,600 -10% HCN Enrollment 2,440 2,380 3% 11
Slide 12: Appendix: Disclosures
Appendix: Disclosures 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 measure that is included in the table below (under the caption “GAAP Net Income t
Slide 13: 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 projected adjusted net income to the comparable GAAP financial measure that is included in the table below (under the capt
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