American Public Education(APEI) - 2024 Q4 - Annual Results

Financial Performance - Consolidated revenue for Q4 2024 increased 7.4% year-over-year to $164.1 million[4] - Net income available to common stockholders in Q4 2024 was$11.5 million, consistent with Q4 2023[4] - Adjusted EBITDA for Q4 2024 was $31.4 million, up from$25.7 million in Q4 2023, representing a growth of 22.1%[4] - Revenue for the three months ended December 31, 2024, increased to $164,110,000 from$152,804,000, representing a growth of 8.5% year-over-year[28] - Net income available to common stockholders for the three months ended December 31, 2024, was $11,505,000, slightly up from$11,475,000 in the same period last year[30] - Adjusted EBITDA for the three months ended December 31, 2024, was $31,393,000, compared to$25,690,000 for the same period in 2023, reflecting a year-over-year increase of 22.9%[30] - For the twelve months ended December 31, 2024, total revenue reached $624,559,000, up from$600,545,000, marking a 4.0% increase[29] - The company reported a net income of $16,113,000 for the twelve months ended December 31, 2024, compared to a net loss of$47,286,000 in the previous year[29] Guidance and Projections - Full year 2025 revenue guidance is set between $650 million and$660 million, reflecting a 4% to 6% year-over-year growth[10] - Full year 2025 Adjusted EBITDA guidance is between $75 million and$85 million, indicating a 4% to 18% increase[10] - The company expects net income available to common stockholders for the three months ending March 31, 2025, to be between $1,696,000 and$3,096,000[31] - The outlook for adjusted EBITDA for the twelve months ending December 31, 2025, is projected to be between $75,000,000 and$85,000,000[31] Costs and Expenses - Total costs and expenses for Q4 2024 were $142.6 million, an increase of 4.2$36.2 million compared to Q4 2023[7] - The total costs and expenses for the twelve months ended December 31, 2024, decreased to $591,493,000 from$648,851,000, a reduction of 8.8%[29] Enrollment and Segments - Q1 2025 enrollments at Rasmussen increased to 14,500, a 6.8% increase compared to Q1 2024[4] - The APUS Segment generated revenue of $82,364,000 for the three months ended December 31, 2024, compared to$79,362,000 in the prior year, indicating a growth of 3.8%[28] - The RU Segment reported a revenue increase to $57,489,000 for the three months ended December 31, 2024, from$52,575,000, which is a growth of 9.1%[28] Strategic Initiatives - The company plans to simplify and strengthen its military and healthcare divisions by closing underperforming campuses and terminating long-term contracts[3] Cash Position - Total cash, cash equivalents, and restricted cash were $158.9 million at December 31, 2024, a 10.1$144.3 million at December 31, 2023[6]