Income Statement - AMERICAN PUBLIC EDUCATION INC (APEI)
$(Billion, Million)| Dec-25 | Dec-24 | Dec-23 | Dec-22 | Dec-21 | Dec-20 | Dec-19 | Dec-18 | Dec-17 | Dec-16 | Dec-15 | Dec-14 | Dec-13 | Dec-12 | Dec-11 | Dec-10 | Dec-09 | Dec-08 | Dec-07 | Dec-06 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total revenue | 648.86 | 624.56 | 600.55 | 606.33 | 418.80 | 321.79 | 286.27 | 297.69 | 299.25 | 313.14 | 327.91 | 350.02 | 329.48 | 313.52 | 260.38 | 198.17 | 149.00 | 107.15 | 69.10 | 40.05 |
| Cost of revenue | 313.17 | 295.70 | 292.86 | 288.47 | 172.62 | 122.16 | 111.92 | 115.28 | 116.16 | 117.01 | 118.85 | 123.77 | 112.78 | 110.19 | 95.22 | 75.31 | 58.38 | 43.56 | 29.48 | 17.96 |
| Gross profit | 335.69 | 328.86 | 307.68 | 317.86 | 246.18 | 199.62 | 174.35 | 182.41 | 183.09 | 196.13 | 209.06 | 226.26 | 216.70 | 203.32 | 165.16 | 122.87 | 90.62 | 63.59 | 39.62 | 22.09 |
| Total operating expenses | 281.83 | 295.79 | 355.99 | 455.20 | 215.81 | 174.87 | 153.71 | 149.00 | 146.14 | 147.15 | 156.78 | 160.42 | 149.26 | 134.52 | 102.30 | 72.84 | 50.75 | 37.90 | 24.93 | 19.15 |
| Operating income | 53.86 | 33.07 | -48.31 | -137.35 | 30.37 | 24.76 | 28.54 | 33.41 | 34.86 | 38.28 | 52.28 | 65.83 | 67.44 | 68.80 | 62.86 | 50.02 | 39.87 | 25.69 | 14.69 | 2.94 |
| Non-operating income (net) | -10.16 | -2.13 | -9.70 | -13.92 | -5.11 | 1.09 | -11.88 | 2.03 | 0.19 | 0.12 | 0.12 | 0.36 | 0.31 | 0.14 | 0.11 | 0.11 | 0.09 | 0.71 | 0.89 | 0.29 |
| Income before tax | 43.71 | 30.94 | -58.00 | -151.27 | 25.26 | 25.85 | 16.66 | 35.44 | 35.04 | 38.39 | 52.40 | 66.19 | 67.75 | 68.94 | 62.97 | 50.13 | 39.96 | 26.39 | 15.58 | 3.23 |
| Income tax expense | 12.15 | 10.42 | -10.72 | -36.28 | 7.51 | 7.02 | 5.19 | 9.29 | 11.49 | 14.94 | 20.07 | 25.15 | 25.65 | 26.53 | 22.21 | 20.27 | 16.02 | 10.21 | 6.83 | 0.77 |
| Net income | 31.56 | 16.11 | -47.29 | -114.99 | 17.75 | 18.82 | 10.01 | 25.64 | 21.12 | 24.16 | 32.41 | 40.88 | 42.03 | 42.32 | 40.76 | 29.87 | 23.94 | 16.19 | 8.75 | 1.80 |
Show Quarterly Income Statement
Income Statement - AMERICAN PUBLIC EDUCATION INC (APEI)
$(Billion, Million)| Mar-26 | Dec-25 | Sep-25 | Jun-25 | Mar-25 | Dec-24 | Sep-24 | Jun-24 | Mar-24 | Dec-23 | Sep-23 | Jun-23 | Mar-23 | Dec-22 | Sep-22 | Jun-22 | Mar-22 | Dec-21 | Sep-21 | Jun-21 | Mar-21 | Dec-20 | Sep-20 | Jun-20 | Mar-20 | Dec-19 | Sep-19 | Jun-19 | Mar-19 | Dec-18 | Sep-18 | Jun-18 | Mar-18 | Dec-17 | Sep-17 | Jun-17 | Mar-17 | Dec-16 | Sep-16 | Jun-16 | Mar-16 | Dec-15 | Sep-15 | Jun-15 | Mar-15 | Dec-14 | Sep-14 | Jun-14 | Mar-14 | Dec-13 | Sep-13 | Jun-13 | Mar-13 | Dec-12 | Sep-12 | Jun-12 | Mar-12 | Dec-11 | Sep-11 | Jun-11 | Mar-11 | Dec-10 | Sep-10 | Jun-10 | Mar-10 | Dec-09 | Sep-09 | Jun-09 | Mar-09 | Dec-08 | Sep-08 | Jun-08 | Mar-08 | Dec-07 | Sep-07 | Jun-07 | Mar-07 | Dec-06 | Sep-06 | Jun-06 | Mar-06 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total revenue | 174.74 | 158.33 | 163.22 | 162.77 | 164.55 | 164.11 | 153.12 | 152.90 | 154.43 | 152.80 | 150.84 | 147.21 | 149.69 | 152.44 | 149.54 | 149.61 | 154.75 | 154.00 | 98.25 | 78.01 | 88.54 | 85.91 | 79.13 | 82.13 | 74.62 | 74.38 | 67.89 | 70.56 | 73.44 | 76.93 | 72.99 | 72.80 | 74.97 | 78.09 | 73.28 | 72.20 | 75.69 | 78.63 | 73.80 | 76.75 | 83.97 | 85.91 | 76.29 | 80.26 | 85.44 | 91.30 | 84.71 | 85.46 | 88.55 | 82.94 | 81.78 | 80.93 | 83.84 | 86.00 | 77.12 | 74.57 | 75.82 | 75.67 | 65.25 | 60.80 | 58.66 | 56.31 | 48.30 | 46.25 | 47.31 | 43.65 | 36.47 | 35.71 | 33.16 | 31.50 | 27.40 | 25.00 | 23.24 | 21.22 | 17.61 | 16.17 | 14.09 | 10.01 | 10.01 | 10.01 | 10.01 |
| Cost of revenue | 78.78 | 73.08 | 74.70 | 78.42 | 74.94 | 71.66 | 75.40 | 76.22 | 72.43 | 70.75 | 73.23 | 75.00 | 73.89 | 72.87 | 71.82 | 72.09 | 71.70 | 67.37 | 42.54 | 30.39 | 32.32 | 31.10 | 31.08 | 30.74 | 29.23 | 28.01 | 27.27 | 28.73 | 27.92 | 28.44 | 28.19 | 28.97 | 29.69 | 28.65 | 28.72 | 29.83 | 28.96 | 30.05 | 28.36 | 29.19 | 29.71 | 29.73 | 29.17 | 29.70 | 30.26 | 31.59 | 30.63 | 30.20 | 31.35 | 29.03 | 28.14 | 27.21 | 28.41 | 29.65 | 26.44 | 26.25 | 27.85 | 26.15 | 23.95 | 23.01 | 22.11 | 20.43 | 19.48 | 17.38 | 18.03 | 16.52 | 14.75 | 14.37 | 12.74 | 12.23 | 10.90 | 10.52 | 9.91 | 8.78 | 7.71 | 6.91 | 6.08 | 5.40 | 4.64 | 4.16 | 3.76 |
| Gross profit | 95.95 | 85.25 | 88.52 | 84.34 | 89.61 | 92.45 | 77.72 | 76.68 | 82.01 | 82.06 | 77.61 | 72.22 | 75.80 | 79.57 | 77.72 | 77.52 | 83.05 | 86.64 | 55.70 | 47.62 | 56.22 | 54.81 | 48.05 | 51.38 | 45.39 | 46.37 | 40.62 | 41.84 | 45.53 | 48.49 | 44.81 | 43.83 | 45.28 | 49.44 | 44.56 | 42.36 | 46.73 | 48.58 | 45.45 | 47.56 | 54.26 | 56.19 | 47.12 | 50.57 | 55.18 | 59.70 | 54.08 | 55.27 | 57.21 | 53.90 | 53.64 | 53.72 | 55.44 | 56.35 | 50.69 | 48.32 | 47.97 | 49.52 | 41.30 | 37.78 | 36.56 | 35.89 | 28.81 | 28.88 | 29.29 | 27.13 | 21.73 | 21.34 | 20.42 | 19.28 | 16.50 | 14.48 | 13.33 | 12.44 | 9.90 | 9.26 | 8.01 | 10.01 | 10.01 | 10.01 | 10.01 |
| Total operating expenses | 74.16 | 66.20 | 78.82 | 77.32 | 77.36 | 70.91 | 73.59 | 74.46 | 76.83 | 66.13 | 71.21 | 137.48 | 81.17 | 79.83 | 78.74 | 218.78 | 77.85 | 70.14 | 54.44 | 45.65 | 45.59 | 45.09 | 44.74 | 42.34 | 42.69 | 37.73 | 41.66 | 36.15 | 38.16 | 37.06 | 37.73 | 35.23 | 38.99 | 36.27 | 36.57 | 35.37 | 37.94 | 37.23 | 35.17 | 36.90 | 38.29 | 40.47 | 36.61 | 38.99 | 40.71 | 41.08 | 39.43 | 39.43 | 40.48 | 39.39 | 36.13 | 36.52 | 37.23 | 34.92 | 33.17 | 33.33 | 33.10 | 29.67 | 26.27 | 22.87 | 23.49 | 20.06 | 19.50 | 17.14 | 16.15 | 13.17 | 13.34 | 12.56 | 11.68 | 11.00 | 10.30 | 8.72 | 7.88 | 7.32 | 6.33 | 5.97 | 5.32 | -37.11 | 9.00 | 0.00 | 0.00 |
| Operating income | 21.80 | 19.05 | 9.70 | 7.03 | 12.25 | 21.54 | 4.13 | 2.22 | 5.18 | 15.93 | 6.40 | -65.27 | -5.37 | -0.26 | -1.03 | -141.26 | 5.20 | 16.50 | 1.26 | 1.98 | 10.64 | 9.72 | 3.31 | 9.04 | 2.69 | 8.64 | -1.04 | 5.68 | 7.36 | 11.43 | 6.88 | 8.05 | 6.16 | 12.64 | 7.60 | 6.32 | 8.31 | 11.25 | 0.39 | 10.66 | 15.97 | 15.72 | 10.51 | 11.58 | 14.47 | 18.63 | 14.65 | 15.84 | 16.73 | 14.52 | 17.51 | 17.20 | 18.21 | 21.42 | 17.52 | 14.99 | 14.87 | 19.84 | 15.03 | 14.91 | 13.07 | 15.83 | 9.32 | 11.74 | 13.14 | 13.96 | 8.39 | 8.78 | 8.73 | 8.27 | 6.20 | 5.76 | 5.45 | 5.13 | 3.58 | 3.30 | 2.69 | -27.09 | 10.01 | 10.01 | 10.01 |
| Non-operating income (net) | -2.55 | -1.25 | -1.07 | -1.11 | -0.89 | -0.59 | -0.63 | -1.87 | -3.45 | -0.79 | -6.02 | -1.10 | 1.04 | -5.15 | -1.88 | -4.10 | 1.18 | -3.11 | -1.31 | -0.80 | 0.11 | 0.09 | 0.12 | 0.18 | 0.70 | 0.67 | -0.86 | 1.13 | -4.93 | 0.99 | 0.77 | 0.66 | 0.49 | 0.14 | 0.02 | 0.02 | 0.01 | 0.01 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.03 | 0.01 | 0.08 | 0.10 | 0.10 | 0.08 | 0.08 | 0.08 | 0.09 | 0.06 | 0.12 | 0.03 | -0.03 | 0.02 | 0.02 | 0.04 | 0.03 | 0.03 | 0.03 | 0.03 | 0.04 | 0.02 | 0.02 | 0.03 | 0.03 | 0.01 | 0.09 | 0.18 | 0.20 | 0.24 | 0.29 | 0.26 | 0.19 | 0.14 | 28.73 | -8.42 | -9.14 | -8.92 |
| Income before tax | 19.25 | 17.80 | 8.63 | 5.92 | 11.36 | 20.95 | 3.50 | 0.36 | 1.73 | 15.14 | 0.38 | -66.37 | -4.33 | -5.41 | -2.90 | -145.36 | 6.38 | 13.38 | -0.04 | 1.18 | 10.75 | 9.80 | 3.43 | 9.22 | 3.39 | 9.31 | -1.89 | 6.81 | 2.44 | 12.42 | 7.66 | 8.71 | 6.66 | 12.78 | 7.62 | 6.33 | 8.32 | 11.26 | 0.43 | 10.70 | 16.01 | 15.76 | 10.55 | 11.61 | 14.48 | 18.71 | 14.75 | 15.93 | 16.81 | 14.60 | 17.58 | 17.29 | 18.27 | 21.54 | 17.55 | 14.96 | 14.89 | 19.87 | 15.07 | 14.94 | 13.10 | 15.86 | 9.34 | 11.77 | 13.16 | 13.99 | 8.42 | 8.81 | 8.75 | 8.36 | 6.38 | 5.96 | 5.69 | 5.42 | 3.84 | 3.49 | 2.84 | 1.64 | 1.59 | 0.88 | 1.10 |
| Income tax expense | 1.52 | 5.19 | 3.07 | 1.42 | 2.47 | 7.99 | 1.24 | -0.02 | 1.21 | 2.12 | 3.71 | -15.14 | 1.41 | 1.12 | 0.86 | -35.33 | 1.04 | 4.00 | 0.22 | 0.65 | 2.64 | 2.73 | 0.79 | 2.53 | 0.97 | 3.59 | -0.24 | 1.90 | -0.06 | 3.29 | 1.85 | 2.28 | 1.87 | 1.83 | 3.29 | 2.53 | 3.85 | 4.42 | 0.09 | 4.17 | 6.27 | 6.08 | 3.80 | 4.55 | 5.65 | 6.77 | 5.88 | 6.17 | 6.33 | 5.64 | 6.61 | 6.54 | 6.85 | 8.28 | 6.72 | 5.72 | 5.81 | 6.88 | 4.13 | 5.96 | 5.24 | 6.25 | 3.76 | 4.75 | 5.51 | 5.61 | 3.40 | 3.50 | 3.51 | 3.32 | 2.57 | 2.03 | 2.29 | 2.46 | 1.61 | 1.45 | 1.30 | -0.45 | -0.45 | -5.99 | -0.45 |
| Net income | 17.73 | 12.61 | 5.56 | 4.50 | 8.89 | 12.96 | 2.26 | 0.37 | 0.52 | 13.01 | -3.33 | -51.23 | -5.74 | -6.54 | -3.76 | -110.03 | 5.33 | 9.38 | -0.27 | 0.53 | 8.11 | 7.07 | 2.64 | 6.69 | 2.42 | 5.72 | -1.64 | 4.92 | 1.01 | 9.09 | 5.50 | 6.46 | 4.59 | 8.42 | 4.37 | 3.83 | 4.51 | 6.89 | 0.33 | 6.60 | 10.34 | 9.79 | 6.76 | 7.07 | 8.79 | 11.80 | 8.84 | 9.80 | 10.44 | 9.00 | 10.91 | 10.75 | 11.38 | 13.18 | 10.82 | 9.24 | 9.08 | 12.99 | 10.94 | 8.98 | 7.86 | 9.61 | 5.59 | 7.03 | 7.65 | 8.38 | 5.01 | 5.31 | 5.24 | 5.04 | 3.82 | 3.93 | 3.41 | 2.96 | 2.22 | 2.04 | 1.53 | 0.45 | 0.45 | 5.99 | 0.45 |