AMERICAN PUBLIC EDUCATION INCAPEIEarnings & Financial Report
Nasdaq
Strategic Education, Inc. (SEI) is an education services holding company and is formerly known as Strayer Education, Inc. The company owns for-profit, online Capella University and Strayer University, as well as non-degree programs schools such as DevMountain, Hackbright Academy, and Sophia Learning.
NextMar 31, 2026
APEI Q3 2025 Key Financial Metrics
Revenue
$163.2M
Gross Profit
$88.5M
Operating Profit
$9.7M
Net Profit
$5.6M
Gross Margin
54.2%
Operating Margin
5.9%
Net Margin
3.4%
YoY Growth
6.6%
EPS
$0.30
Financial Flow
AMERICAN PUBLIC EDUCATION INC Q3 2025 Financial Summary
AMERICAN PUBLIC EDUCATION INC reported revenue of $163.2M for Q3 2025, with a net profit of $5.6M (3.4% margin). Cost of goods sold was $74.7M, operating expenses totaled $78.8M.
Key Financial Metrics
| Total Revenue | $163.2M |
|---|---|
| Net Profit | $5.6M |
| Gross Margin | 54.2% |
| Operating Margin | 5.9% |
| Report Period | Q3 2025 |
AMERICAN PUBLIC EDUCATION INC Annual Revenue by Year
AMERICAN PUBLIC EDUCATION INC annual revenue history includes year-by-year totals (for example, 2024 revenue was $624.6M).
| Year | Annual Revenue |
|---|---|
| 2024 | $624.6M |
| 2023 | $600.5M |
| 2022 | $606.3M |
Income Statement
| Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $152.8M | $154.4M | $152.9M | $153.1M | $164.1M | $164.6M | $162.8M | $163.2M |
| YoY Growth | 0.2% | 3.2% | 3.9% | 1.5% | 7.4% | 6.6% | 6.5% | 6.6% |
Balance Sheet
| Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $557.4M | $559.0M | $560.7M | $569.6M | $570.1M | $578.7M | $537.4M | $525.3M |
| Liabilities | $265.4M | $270.5M | $272.0M | $279.2M | $266.2M | $268.6M | $265.1M | $246.0M |
| Equity | $292.0M | $288.5M | $288.7M | $290.4M | $303.9M | $310.0M | $272.2M | $279.3M |
Cash Flow
| Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $-3.1M | $20.7M | $12.5M | $14.1M | $1.6M | $37.0M | $14.8M | $21.7M |