)
Edge
Extra Everything: The Story of Chipotle
Chipotle's story from a single restaurant to a nationwide chain, through crisis and turnaround, built on one of the strongest models in the industry.
American Public Education
American Public Education (APEI) investor relations material
American Public Education Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary11 May, 2026
Executive summary
Q1 2026 revenue grew 6.2% year-over-year to $174.7 million, reaching the top end of guidance, with net income up 137.6% to $17.7 million; excluding divested GSUSA, revenue growth was 8.7%.
Adjusted EBITDA rose 37.5% to $29.2 million, with margin expanding to 16.7%; diluted EPS increased to $0.94 from $0.41 year-over-year.
Outperformed guidance on all four key tracked metrics in Q1 2026, prompting raised full-year 2026 guidance for revenue, Adjusted EBITDA, and EPS.
Completed legal merger of institutional entities in March 2026; full institutional combination expected in Q3 2026, pending regulatory approvals.
Now reports under two segments, Military+ and Health+, following the legal entity merger.
Financial highlights
Q1 2026 revenue: $174.7 million, up from $164.6 million in Q1 2025; net income available to common stockholders: $17.7 million ($0.94 per diluted share), up from $7.5 million ($0.41 per share) in Q1 2025.
Adjusted EBITDA: $29.2 million, up from $21.2 million; margin expanded to 16.7% from 12.9% year-over-year.
Cash, equivalents, and restricted cash at quarter-end: $221 million; total debt: $90 million.
Cash flows from operations were $63.3 million, up 71% year-over-year.
Operating income before interest and taxes was $21.6 million, up from $12.2 million in Q1 2025.
Outlook and guidance
Full-year 2026 guidance: revenue $686–$696 million, net income $44.9–$51.6 million, Adjusted EBITDA $93–$102 million, EPS $2.33–$2.68.
Q2 2026 guidance: revenue $170–$172 million, net income $6.5–$7.5 million, Adjusted EBITDA $16.5–$18 million, EPS $0.34–$0.39.
Multi-year targets for 2029: revenue CAGR of 8–12%, $890M–$1.0B revenue, and 20–21% adjusted EBITDA margin.
CapEx for 2026 expected at $28–$32 million; expects to incur $1.0–$3.0 million in professional fees for institutional combination.
Guidance reflects continued Health+ enrollment momentum, margin expansion, and incorporates uncertainty around military deployments.
Operational scope of the HLC consolidation
Borrowing rate reduction from debt refinancing
Impact of the GSUSA sale on revenue growth
Detail HLC site visit and Combination timing
Discuss recoupment risks from 2026 BDTR claims
Explain TA billing delay impact on 90/10 Rule
Progress on combining APUS and Rasmussen units
Path to achieving 2029 EBITDA margin targets
Growth outlook for the new Orlando nursing campus
Timing of institutional combination synergies
Partial view of Summaries dataset, powered by Quartr API
AI can get things wrong. Verify important information.Research faster. Power your platform.
Latest events from American Public Education
- 2026 proxy seeks votes on directors, pay, and auditor, highlighting strong 2025 results.APEI
Proxy filing9 Apr 2026 - Virtual annual meeting to vote on directors, executive pay, and auditor ratification.APEIProxy filing9 Apr 2026
- Strong FY2025 results and a clear path to $1B revenue by 2029 through focused growth and efficiency.APEIInvestor presentation2 Apr 2026
- 2025 delivered strong growth and margin gains, with 2026 guidance signaling further expansion.APEIQ4 202512 Mar 2026
- Targeting $1B revenue and 20%+ margins by 2029 through global and digital expansion.APEIInvestor Day 20253 Feb 2026
- Q2 revenue up 3.9%, adjusted EBITDA up 24%, and guidance reaffirmed as enrollment trends improve.APEIQ2 20242 Feb 2026
- Strong financials, operational gains, and growth in military and nursing education drive optimism.APEIThe 44th Annual William Blair Growth Stock Conference31 Jan 2026
- Q3 revenue rose 1.5% to $153.1M, with positive net income and strong segment enrollment growth.APEIQ3 202414 Jan 2026
- 2025 meeting to vote on directors, equity plan, pay, and auditor amid strong results and ESG focus.APEIProxy Filing1 Dec 2025
Next American Public Education earnings date
AGM 202622 May, 2026
American Public Education
Next American Public Education earnings date
AGM 202622 May, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
Related articles
)
)
Frequently asked questions
Explore our global coverage