American Public Education, Inc. · NASDAQ:APEI
American Public Education — Q1 2022 Earnings Presentation
13 slides from American Public Education's earnings presentation, May 10, 2022
Slide 1: American Public Education, Inc. First Quarter 2022 Results
American Public Education, Inc. First Quarter 2022 Results May 10, 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. 1Q 2022 Financial Results & 2Q 2022 Outlook 3
Slide 4: Market Leading Positions with Service-Minded Students
Market Leading Positions with Service-Minded Students #1 Educator of Active-Duty Only Educator with a Military and Veterans Full Ladder of Nursing Curriculum #1 Educator in Leading Provider Creating New of Federal Nurses1 Workforce Training HEROIC TM Affordable High-Quality HEROICTM: Higher Educatio
Slide 5: APEI Nursing Enrollment Update
APEI Nursing Enrollment Update 1Q 2022 Forecast 2Q 2022 Nursing Enrollment + 3% • 2Q22 total nursing student enrollment growth of -1% versus + 2% 10,500 10,900 prior year comparable period, comping to tough growth 8,200 8,400 8,300 2 Yr periods; still represents +14% 2 year CAGR 6,700 CAGR + 8% +15%
Slide 6: APUS and Rasmussen Non-Nursing Enrollment Update
APUS and Rasmussen Non-Nursing Enrollment Update APUS Rasmussen Non-Nursing APUS Net Course Registrations Rasmussen Non-Nursing Enrollment +1% - 14% 92.9K 94.0K 9,800 2 Yr 9,100 2 Yr CAGR 7,800 CAGR 84.8K +5% -11% 1Q 2020 1Q 2021 1Q 2022 1Q 2020 1Q 2021 1Q 2022 • 1Q22 military registrations strong,
Slide 7: Table of Contents
Table of Contents 1. APEI and Education Unit Enrollment Updates 2. 1Q 2022 Financial Results & 2Q 2022 Outlook 7
Slide 8: First Quarter 2022 Financial Highlights
First Quarter 2022 Financial Highlights Financial Summary Capitalization and Liquidity Three Months Ended Year Ended Dec. 31, 2021 Mar. 31, 2022 March 31, ($ in 000s) December 31, 2021 2022 % Change Term Loan $172,813 $170,625 Revolver, drawn - - ($ in millions) Total Debt $172,813 $170,625 APUS Rev
Slide 9: APEI’s 2Q 2022 Outlook
APEI’s 2Q 2022 Outlook These statements are based on current expectations. These statements are forward-looking and actual results may differ materially. Second Quarter 2022 Guidance (Approximate) (% Yr/Yr Change) APUS Net course registrations 80,900 to 83,400 -2% to 1% • Rasmussen Nursing enrollmen
Slide 10: Thank You
Thank You
Slide 11: Appendix: Enrollment and Registration Summary
Appendix: Enrollment and Registration Summary 1Q 2022 1Q 2021 % Change APUS Registrations 94,000 92,900 1% Total Rasmussen Enrollment 16,200 17,300 -7% Rasmussen Nursing Enrollment 8,400 8,200 2% Rasmussen Non-Nursing Enrollment 7,800 9,100 -14% HCN Enrollment 2,500 2,300 8% 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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