American Public Education financials
$41.09+1.16%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Quarter | Q2 '26 Jun 30 | Q1 '26 Mar 31 | Q4 '25 Dec 31 | Q3 '25 Sep 30 | Q2 '25 Jun 30 | Q1 '25 Mar 31 | Q4 '24 Dec 31 | Q3 '24 Sep 30 | Q2 '24 Jun 30 | Q1 '24 Mar 31 | Q4 '23 Dec 31 | Q3 '23 Sep 30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $171.7M | $174.7M | $158.3M | $163.2M | $162.8M | $164.6M | $164.1M | $153.1M | $152.9M | $154.4M | $152.8M | $150.8M |
| Gross profit | $95.1M | $100.1M | $89.4M | $88.5M | $84.3M | $89.6M | $92.4M | $77.7M | $76.7M | $82.0M | $82.1M | $77.6M |
| Gross margin | 55.4% | 57.3% | 56.4% | 54.2% | 51.8% | 54.5% | 56.3% | 50.8% | 50.2% | 53.1% | 53.7% | 51.5% |
| Operating income | $13.5M | $21.8M | $19.0M | $13.7M | $7.1M | $14.0M | $19.6M | $4.2M | $3.2M | $5.2M | $16.5M | $6.4M |
| Net income | $9.8M | $17.7M | $12.6M | $5.6M | -$324.0K | $7.5M | $11.5M | $731.0K | -$1.2M | -$1.0M | $11.5M | -$4.9M |
| Net margin | 5.7% | 10.1% | 8.0% | 3.4% | −0.2% | 4.5% | 7.0% | 0.5% | −0.8% | −0.7% | 7.5% | −3.2% |
| Diluted EPS | $0.52 | $0.94 | $0.67 | $0.30 | $-0.02 | $0.41 | $0.63 | $0.04 | $-0.06 | $-0.06 | $0.64 | $-0.27 |
| EBITDA | $17.5M | $26.0M | $23.1M | $17.7M | $11.1M | $18.0M | $23.4M | $9.2M | $8.4M | $13.3M | $18.9M | $13.4M |
| Operating cash flow | $12.1M | $63.3M | -$11.6M | $21.7M | $14.8M | $37.0M | $1.6M | $14.1M | $12.5M | $20.7M | -$3.1M | $20.2M |
| Free cash flow | $7.4M | $60.8M | -$15.6M | $17.5M | $11.1M | $33.1M | -$1.8M | $7.8M | $7.3M | $14.5M | -$7.5M | $17.2M |
| Diluted shares | 18.8M | 18.8M | 18.9M | 18.8M | 18.6M | 18.4M | 18.4M | 18.2M | 18.1M | 17.8M | 17.9M | 17.8M |
Balance sheet
| Period end | Jun 30 | Mar 31 | Dec 31 | Sep 30 | Jun 30 | Mar 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $146.5M | $221.0M | $176.5M | $193.1M | $176.6M | $187.5M |
| Short-term investments | $76.3M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Total debt | $87.3M | $88.3M | $94.7M | $94.4M | $94.1M | $93.7M |
| Total assets | $537.7M | $537.9M | $521.4M | $525.3M | $537.4M | $578.7M |
| Total liabilities | $223.7M | $231.7M | $226.6M | $246.0M | $265.1M | $268.6M |
| Shareholders' equity | $314.1M | $306.2M | $294.8M | $279.3M | $272.2M | $310.0M |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology