American Public Education Reports Fourth Quarter and Full Year 2024 Financial Results

Core Insights - American Public Education, Inc. (APEI) reported strong financial results for Q4 2024, with net income and adjusted EBITDA exceeding guidance, driven by improvements in its APUS, Rasmussen, and Hondros College of Nursing segments [1][3][5] Financial Performance - Consolidated revenue for Q4 2024 increased by 7.4% year-over-year to $164.1 million, up from$152.8 million in Q4 2023 [5][6] - Net income available to common stockholders for Q4 2024 was $11.5 million, consistent with Q4 2023 [5][6] - Adjusted EBITDA for Q4 2024 was$31.4 million, compared to $25.7 million in Q4 2023, reflecting a significant year-over-year increase [5][7] Enrollment and Registrations - Q1 2025 enrollments at Rasmussen University increased to 14,500, representing a 6.8$650 million to $660 million, with adjusted EBITDA expected between$75 million and $85 million [5][10] - The company anticipates a net income available to common stockholders for 2025 between$19 million and $26 million, indicating a substantial year-over-year growth of 89$142.6 million, an increase of 4.2% compared to $136.9 million in Q4 2023, primarily due to higher employee compensation and IT costs [6][5] - General and administrative expenses rose by 15.6$36.2 million, driven by increased IT costs and bad debt expense [6][5] Balance Sheet and Liquidity - Total cash, cash equivalents, and restricted cash increased to $158.9 million at December 31, 2024, up from$144.3 million a year earlier, marking a 10.1% increase [8]