Q1 2026 American Public Education Inc Earnings Call Transcript

May 11, 2026 / 09:00 PM GMT

Release Date Price: $56.37 (+0.12%)

Transcript 10-Q8-K

Key Points

Positve

Total revenue grew 6.2% year over year, reaching the top end of guidance.
Adjusted EBITDA increased by 37.5% to $29.2 million, surpassing expectations.
Health Plus segment showed strong performance with 11% revenue growth and 8% enrollment growth.
Military Plus segment achieved a 36% adjusted EBITDA margin, reflecting cost discipline.
APEI raised full-year 2026 guidance for revenue, adjusted EBITDA, and EPS, indicating confidence in future performance.

Negative

Military Plus segment faced headwinds due to deployments in Navy, Air Force, and Marines, impacting registrations.
The ongoing war in the Middle East has led to increased leave of absence requests, affecting enrollment.
Q2 guidance reflects a shift in marketing spend, potentially impacting short-term profitability.
APEI's growth in Military Plus is moderated due to the uncertainty of military deployments.
The company faces challenges in expanding into new states due to regulatory processes.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

APEI.OQ - American Public Education Inc
Q1 2026 American Public Education Inc Earnings Call
May 11, 2026 / 09:00PM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, thank you for standing by.

My name is Abby, and I will be your conference operator today.

At this time, I would like to welcome everyone to the APEI First Quarter 2026 Earnings Call.

All lines have been placed on mute to prevent any background noise.

After the speaker's remarks, there will be a question-and-answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, press star one again.

Thank you. And I would now like to turn the call over to Shannon Devine, Investor Relations. Please go ahead.

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