American Public Education, Inc. · NASDAQ:APEI
American Public Education — Q4 2021 Earnings Presentation
14 slides from American Public Education's earnings presentation, Mar 2, 2022
Slide 1: Fourth Quarter and Full Year 2021 Results
American Public Education, Inc. Fourth Quarter and Full Year 2021 Results March 2, 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. 4Q and Full Year 2021 Financial Results & 1Q 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: Building a National Nursing Platform to Address Chronic Issue
APEI: Building a National Nursing Platform to Address Chronic Issue Chronic Nursing Shortfall APEI’s Nursing Platform ➢BLS annual job projections: RNs: 9% increase from 2020 to 2030; 195k annual openings 30 campuses PNs: 9% increase from 2020 to 2030; 61k annual openings $204MM in revenue1 ➢More
Slide 6: APEI Nursing Enrollment Update
APEI Nursing Enrollment Update 4Q 2021 1Q 2022 Nursing Enrollment + 10% • 1Q22 Total nursing student enrollment growth of 4% versus 11,210 + 8% 10,140 prior year comparable period, comping to tough growth 8,700 8,300 8,000 periods 6,700 + 17% • Enrollment caps raised again at HCN Indianapolis campus
Slide 7: APUS and Rasmussen Non-Nursing Enrollment Update
APUS and Rasmussen Non-Nursing Enrollment Update APUS Rasmussen Non-Nursing APUS Net Course Registrations -2% Rasmussen Non-Nursing Enrollment 353.1K 345.3K - 13% 2020 2021 9,700 ArmyIgniteED Portal Issue 2 Yr 2 Yr CAGR CAGR +10% -8% -8% -2% +4% 8,400 -8% 84.8K 92.9K 89.6K 82.6K 90.3K 83.1K 88.4K 86
Slide 8: Table of Contents
Table of Contents 1. APEI and Education Unit Enrollment Updates 2. 4Q and Full Year 2021 Financial Results & 1Q 2022 Outlook 8
Slide 9: Fourth Quarter and Full Year Financial Highlights
Fourth Quarter and Full Year 2021 Financial Highlights Financial Summary Capitalization and Liquidity Three Months Ended Year Ended December 31, December 31, Dec. 31, 2020 Dec. 31, 2021 ($ in 000s) 2021 2020 % Change 2021 2020 % Change Term Loan - $172,813 ($ in millions) Revolver, drawn - - APUS Re
Slide 10: APEI's 1Q 2022 Outlook
APEI’s 1Q 2022 Outlook These statements are based on current expectations. These statements are forward-looking and actual results may differ materially. First Quarter 2022 Guidance Full Year 2021 G (Approximate) (% Yr/Yr Change) 1 APUS Net course registrations 92,900 to 95,700 0% to 3% 2 HCN Studen
Slide 11: Thank You
Thank You
Slide 12: Appendix: Enrollment and Registration Summary
Appendix: Enrollment and Registration Summary 4Q 2021 4Q 2020 % Change APUS Registrations 86,600 88,400 -2% Total Rasmussen Enrollment 17,100 17,700 -3% Rasmussen Nursing Enrollment 8,700 8,000 8% Rasmussen Non-Nursing Enrollment 8,400 9,700 -13% HCN Enrollment 2,510 2,140 17% 12
Slide 13: 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 measures that is included in the table below (under the caption “GAAP Net Income
Slide 14: 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
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