# American Public Education Inc: financial statements, quarterly

APEI · Nasdaq · CIK 1201792 · [Other](/sectors/other.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/apei.md) · [Financials](/companies/apei/financials.md) · [Filings](/companies/apei/filings.md) · [Insiders](/companies/apei/insiders.md)

Standardized line items from XBRL company facts. Each value links to its filing; d marks a value derived from year-to-date figures. Other view: [annual](/companies/apei/financials.md?period=annual).

## Income statement

| Line item | Unit | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [151](/filings/0001201792-25-000004.md) | [153](/filings/0001201792-25-000004.md) | [154](/filings/0001201792-26-000004.md) | [153](/filings/0001201792-26-000004.md) | [153](/filings/0001201792-26-000004.md) | [164](/filings/0001201792-26-000004.md) | [165](/filings/0001201792-26-000008.md) | [163](/filings/0001201792-26-000012.md) | [163](/filings/0001201792-26-000004.md) | [158](/filings/0001201792-26-000004.md) | [175](/filings/0001201792-26-000008.md) | [172](/filings/0001201792-26-000012.md) |
| Cost of revenue | $m | [73.2](/filings/0001201792-24-000016.md) | [70.7 d](/filings/0001201792-26-000004.md) | [72.4](/filings/0001201792-25-000010.md) | [76.2](/filings/0001201792-25-000016.md) | [75.4](/filings/0001201792-25-000020.md) | [71.7 d](/filings/0001201792-26-000004.md) | [74.9](/filings/0001201792-26-000008.md) | [78.4](/filings/0001201792-26-000012.md) | [74.7](/filings/0001201792-25-000020.md) | [69.0 d](/filings/0001201792-26-000004.md) | [74.6](/filings/0001201792-26-000008.md) | [76.6](/filings/0001201792-26-000012.md) |
| Operating income | $m | [6.4](/filings/0001201792-24-000016.md) | [15.9 d](/filings/0001201792-26-000004.md) | [5.2](/filings/0001201792-25-000010.md) | [2.2](/filings/0001201792-25-000016.md) | [4.1](/filings/0001201792-25-000020.md) | [21.5 d](/filings/0001201792-26-000004.md) | [12.2](/filings/0001201792-26-000008.md) | [7.0](/filings/0001201792-26-000012.md) | [9.7](/filings/0001201792-25-000020.md) | [19.0 d](/filings/0001201792-26-000004.md) | [21.6](/filings/0001201792-26-000008.md) | [13.5](/filings/0001201792-26-000012.md) |
| Income tax | $m | [3.7](/filings/0001201792-24-000016.md) | [2.1 d](/filings/0001201792-26-000004.md) | [1.2](/filings/0001201792-25-000010.md) | [(0.0)](/filings/0001201792-25-000016.md) | [1.2](/filings/0001201792-25-000020.md) | [8.0 d](/filings/0001201792-26-000004.md) | [2.5](/filings/0001201792-26-000008.md) | [1.4](/filings/0001201792-26-000012.md) | [3.1](/filings/0001201792-25-000020.md) | [5.2 d](/filings/0001201792-26-000004.md) | [1.5](/filings/0001201792-26-000008.md) | [4.4](/filings/0001201792-26-000012.md) |
| Net income | $m | [(3.3)](/filings/0001201792-24-000016.md) | [11.5](/filings/0001201792-25-000004.md) | [0.5](/filings/0001201792-25-000020.md) | [0.4](/filings/0001201792-25-000020.md) | [2.3](/filings/0001201792-25-000020.md) | [11.5](/filings/0001201792-26-000004.md) | [8.9](/filings/0001201792-26-000012.md) | [4.5](/filings/0001201792-26-000012.md) | [5.6](/filings/0001201792-25-000020.md) | [12.6](/filings/0001201792-26-000004.md) | [17.7](/filings/0001201792-26-000012.md) | [9.8](/filings/0001201792-26-000012.md) |
| Diluted EPS | $ per share | [(0.27)](/filings/0001201792-25-000004.md) | [0.64](/filings/0001201792-25-000004.md) | [(0.06)](/filings/0001201792-26-000004.md) | [(0.06)](/filings/0001201792-26-000004.md) | [0.04](/filings/0001201792-26-000004.md) | [0.63](/filings/0001201792-26-000004.md) | [0.41](/filings/0001201792-26-000008.md) | [(0.02)](/filings/0001201792-26-000012.md) | [0.30](/filings/0001201792-26-000004.md) | [0.67](/filings/0001201792-26-000004.md) | [0.94](/filings/0001201792-26-000008.md) | [0.52](/filings/0001201792-26-000012.md) |
| Basic EPS | $ per share | [(0.27)](/filings/0001201792-25-000004.md) | [0.65](/filings/0001201792-25-000004.md) | [(0.06)](/filings/0001201792-26-000004.md) | [(0.07)](/filings/0001201792-26-000004.md) | [0.04](/filings/0001201792-26-000004.md) | [0.65](/filings/0001201792-26-000004.md) | [0.42](/filings/0001201792-26-000008.md) | [(0.02)](/filings/0001201792-26-000012.md) | [0.31](/filings/0001201792-26-000004.md) | [0.70](/filings/0001201792-26-000004.md) | [0.97](/filings/0001201792-26-000008.md) | [0.53](/filings/0001201792-26-000012.md) |

- Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
- Cost of revenue: us-gaap:CostOfGoodsAndServicesSold
- Operating income: us-gaap:OperatingIncomeLoss
- Income tax: us-gaap:IncomeTaxExpenseBenefit
- Net income: us-gaap:NetIncomeLoss, us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic
- Diluted EPS: us-gaap:EarningsPerShareDiluted
- Basic EPS: us-gaap:EarningsPerShareBasic

## Balance sheet

| Line item | Unit | Q3 FY2023 (2023-09-30) | FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | $m | [128](/filings/0001201792-23-000016.md) | [117](/filings/0001201792-25-000004.md) | [125](/filings/0001201792-24-000009.md) | [130](/filings/0001201792-24-000013.md) | [135](/filings/0001201792-24-000016.md) | [132](/filings/0001201792-26-000004.md) | [162](/filings/0001201792-25-000010.md) | [175](/filings/0001201792-25-000016.md) | [191](/filings/0001201792-25-000020.md) | [174](/filings/0001201792-26-000004.md) | not reported | not reported |
| Current assets | $m | [203](/filings/0001201792-23-000016.md) | [217](/filings/0001201792-25-000004.md) | [224](/filings/0001201792-24-000009.md) | [223](/filings/0001201792-24-000013.md) | [237](/filings/0001201792-24-000016.md) | [261](/filings/0001201792-26-000004.md) | [273](/filings/0001201792-25-000010.md) | [235](/filings/0001201792-25-000016.md) | [259](/filings/0001201792-25-000020.md) | [260](/filings/0001201792-26-000012.md) | [282](/filings/0001201792-26-000008.md) | [283](/filings/0001201792-26-000012.md) |
| Total assets | $m | [555](/filings/0001201792-23-000016.md) | [557](/filings/0001201792-25-000004.md) | [559](/filings/0001201792-24-000009.md) | [561](/filings/0001201792-24-000013.md) | [570](/filings/0001201792-24-000016.md) | [570](/filings/0001201792-26-000004.md) | [579](/filings/0001201792-25-000010.md) | [537](/filings/0001201792-25-000016.md) | [525](/filings/0001201792-25-000020.md) | [521](/filings/0001201792-26-000012.md) | [538](/filings/0001201792-26-000008.md) | [538](/filings/0001201792-26-000012.md) |
| Current liabilities | $m | [82.3](/filings/0001201792-23-000016.md) | [74.0](/filings/0001201792-25-000004.md) | [79.6](/filings/0001201792-24-000009.md) | [78.9](/filings/0001201792-24-000013.md) | [89.4](/filings/0001201792-24-000016.md) | [79.2](/filings/0001201792-26-000004.md) | [83.4](/filings/0001201792-25-000010.md) | [82.9](/filings/0001201792-25-000016.md) | [91.4](/filings/0001201792-25-000020.md) | [75.1](/filings/0001201792-26-000012.md) | [94.5](/filings/0001201792-26-000008.md) | [87.0](/filings/0001201792-26-000012.md) |
| Total liabilities | $m | [274](/filings/0001201792-23-000016.md) | [265](/filings/0001201792-25-000004.md) | [271](/filings/0001201792-24-000009.md) | [272](/filings/0001201792-24-000013.md) | [279](/filings/0001201792-24-000016.md) | [266](/filings/0001201792-26-000004.md) | [269](/filings/0001201792-25-000010.md) | [265](/filings/0001201792-25-000016.md) | [246](/filings/0001201792-25-000020.md) | [227](/filings/0001201792-26-000012.md) | [232](/filings/0001201792-26-000008.md) | [224](/filings/0001201792-26-000012.md) |
| Long-term debt | $m | [94.3](/filings/0001201792-23-000016.md) | [94.7](/filings/0001201792-25-000004.md) | [95.0](/filings/0001201792-24-000009.md) | [92.8](/filings/0001201792-24-000013.md) | [93.1](/filings/0001201792-24-000016.md) | [93.4](/filings/0001201792-26-000004.md) | [93.7](/filings/0001201792-25-000010.md) | [94.1](/filings/0001201792-25-000016.md) | [94.4](/filings/0001201792-25-000020.md) | [94.7](/filings/0001201792-26-000012.md) | [83.2](/filings/0001201792-26-000008.md) | [81.6](/filings/0001201792-26-000012.md) |
| Current portion of debt | $m | [0.0](/filings/0001201792-23-000016.md) | [0.0](/filings/0001201792-25-000004.md) | [0.0](/filings/0001201792-24-000009.md) | [0.0](/filings/0001201792-24-000013.md) | [0.0](/filings/0001201792-24-000016.md) | [0.0](/filings/0001201792-26-000004.md) | [0.0](/filings/0001201792-25-000010.md) | [0.0](/filings/0001201792-25-000016.md) | [0.0](/filings/0001201792-25-000020.md) | [0.0](/filings/0001201792-26-000012.md) | [5.1](/filings/0001201792-26-000008.md) | [5.6](/filings/0001201792-26-000012.md) |
| Shareholders' equity | $m | [281](/filings/0001201792-24-000016.md) | [292](/filings/0001201792-26-000004.md) | [288](/filings/0001201792-25-000020.md) | [289](/filings/0001201792-25-000020.md) | [290](/filings/0001201792-25-000020.md) | [304](/filings/0001201792-26-000012.md) | [310](/filings/0001201792-26-000012.md) | [272](/filings/0001201792-26-000012.md) | [279](/filings/0001201792-25-000020.md) | [295](/filings/0001201792-26-000012.md) | [306](/filings/0001201792-26-000012.md) | [314](/filings/0001201792-26-000012.md) |

- Cash and equivalents: us-gaap:CashAndCashEquivalentsAtCarryingValue
- Current assets: us-gaap:AssetsCurrent
- Total assets: us-gaap:Assets
- Current liabilities: us-gaap:LiabilitiesCurrent
- Total liabilities: us-gaap:Liabilities
- Long-term debt: us-gaap:LongTermDebtNoncurrent
- Current portion of debt: us-gaap:LongTermDebtCurrent
- Shareholders' equity: us-gaap:StockholdersEquity

## Cash flow

| Line item | Unit | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Operating cash flow | $m | [20.2 d](/filings/0001201792-24-000016.md) | [(3.1) d](/filings/0001201792-26-000004.md) | [20.7](/filings/0001201792-25-000010.md) | [12.5 d](/filings/0001201792-25-000016.md) | [14.1 d](/filings/0001201792-25-000020.md) | [1.6 d](/filings/0001201792-26-000004.md) | [37.0](/filings/0001201792-26-000008.md) | [14.8 d](/filings/0001201792-26-000012.md) | [21.7 d](/filings/0001201792-25-000020.md) | [(11.6) d](/filings/0001201792-26-000004.md) | [63.3](/filings/0001201792-26-000008.md) | [12.1 d](/filings/0001201792-26-000012.md) |
| Capital expenditure | $m | [3.0 d](/filings/0001201792-24-000016.md) | [4.4 d](/filings/0001201792-26-000004.md) | [6.2](/filings/0001201792-25-000010.md) | [5.2 d](/filings/0001201792-25-000016.md) | [6.3 d](/filings/0001201792-25-000020.md) | [3.4 d](/filings/0001201792-26-000004.md) | [3.9](/filings/0001201792-26-000008.md) | [3.7 d](/filings/0001201792-26-000012.md) | [4.2 d](/filings/0001201792-25-000020.md) | [4.1 d](/filings/0001201792-26-000004.md) | [2.5](/filings/0001201792-26-000008.md) | [4.7 d](/filings/0001201792-26-000012.md) |
| Share repurchases | $m | [0.0 d](/filings/0001201792-24-000016.md) | [1.7 d](/filings/0001201792-26-000004.md) | [4.1](/filings/0001201792-25-000010.md) | [0.0 d](/filings/0001201792-25-000016.md) | [0.1 d](/filings/0001201792-25-000020.md) | [0.0 d](/filings/0001201792-26-000004.md) | [3.7](/filings/0001201792-26-000008.md) | [0.0 d](/filings/0001201792-26-000012.md) | [0.2 d](/filings/0001201792-25-000020.md) | [0.3 d](/filings/0001201792-26-000004.md) | [8.7](/filings/0001201792-26-000008.md) | [4.1 d](/filings/0001201792-26-000012.md) |

- Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities
- Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment
- Share repurchases: us-gaap:PaymentsForRepurchaseOfCommonStock

## Shares

| Line item | Unit | Q3 FY2022 (2022-09-30) | Q1 FY2023 (2023-03-31) | Q2 FY2023 (2023-06-30) | Q3 FY2023 (2023-09-30) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Diluted shares (weighted) | millions of shares | [18.9](/filings/0001201792-23-000016.md) | [19.1](/filings/0001201792-24-000009.md) | [18.0](/filings/0001201792-24-000013.md) | [17.8](/filings/0001201792-24-000016.md) | [17.8](/filings/0001201792-25-000010.md) | [18.1](/filings/0001201792-25-000016.md) | [18.2](/filings/0001201792-25-000020.md) | [18.4](/filings/0001201792-26-000008.md) | [18.6](/filings/0001201792-26-000012.md) | [18.8](/filings/0001201792-25-000020.md) | [18.8](/filings/0001201792-26-000008.md) | [18.8](/filings/0001201792-26-000012.md) |

- Diluted shares (weighted): us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding

Shares outstanding: 18,301,543 at 2026-08-06, from the cover of the [10-Q filed 2026-08-10](/filings/0001201792-26-000012.md) (dei:EntityCommonStockSharesOutstanding).

Source: SEC EDGAR, XBRL company facts. Last ingested by Listed: Oct 24, 2026, 15:35 ET. No prices; not investment advice.