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Side-by-side financial comparison of AMERICAN PUBLIC EDUCATION INC (APEI) and TACTILE SYSTEMS TECHNOLOGY INC (TCMD). Click either name above to swap in a different company.
AMERICAN PUBLIC EDUCATION INC is the larger business by last-quarter revenue ($158.3M vs $103.6M, roughly 1.5× TACTILE SYSTEMS TECHNOLOGY INC). TACTILE SYSTEMS TECHNOLOGY INC runs the higher net margin — 10.3% vs 8.0%, a 2.3% gap on every dollar of revenue. On growth, TACTILE SYSTEMS TECHNOLOGY INC posted the faster year-over-year revenue change (21.0% vs -3.5%). TACTILE SYSTEMS TECHNOLOGY INC produced more free cash flow last quarter ($16.8M vs $-15.6M). Over the past eight quarters, TACTILE SYSTEMS TECHNOLOGY INC's revenue compounded faster (30.2% CAGR vs 1.3%).
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.
Dominion Voting Systems Corporation was a North American company that produced and sold electronic voting hardware and software, including voting machines and tabulators, in Canada and the United States.
APEI vs TCMD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $158.3M | $103.6M |
| Net Profit | $12.6M | $10.6M |
| Gross Margin | 56.4% | 78.2% |
| Operating Margin | 12.0% | 18.1% |
| Net Margin | 8.0% | 10.3% |
| Revenue YoY | -3.5% | 21.0% |
| Net Profit YoY | -2.7% | 9.4% |
| EPS (diluted) | $0.67 | $0.45 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $158.3M | $103.6M | ||
| Q3 25 | $163.2M | $85.8M | ||
| Q2 25 | $162.8M | $78.9M | ||
| Q1 25 | $164.6M | $61.3M | ||
| Q4 24 | $164.1M | $85.6M | ||
| Q3 24 | $153.1M | $73.1M | ||
| Q2 24 | $152.9M | $73.2M | ||
| Q1 24 | $154.4M | $61.1M |
| Q4 25 | $12.6M | $10.6M | ||
| Q3 25 | $5.6M | $8.2M | ||
| Q2 25 | $4.5M | $3.2M | ||
| Q1 25 | $8.9M | $-3.0M | ||
| Q4 24 | $13.0M | $9.7M | ||
| Q3 24 | $2.3M | $5.2M | ||
| Q2 24 | $371.0K | $4.3M | ||
| Q1 24 | $516.0K | $-2.2M |
| Q4 25 | 56.4% | 78.2% | ||
| Q3 25 | 54.2% | 75.8% | ||
| Q2 25 | 51.8% | 74.5% | ||
| Q1 25 | 54.5% | 74.0% | ||
| Q4 24 | 56.3% | 75.2% | ||
| Q3 24 | 50.8% | 75.0% | ||
| Q2 24 | 50.2% | 73.9% | ||
| Q1 24 | 53.1% | 71.1% |
| Q4 25 | 12.0% | 18.1% | ||
| Q3 25 | 5.9% | 12.8% | ||
| Q2 25 | 4.3% | 5.2% | ||
| Q1 25 | 7.4% | -7.4% | ||
| Q4 24 | 13.1% | 14.6% | ||
| Q3 24 | 2.7% | 9.3% | ||
| Q2 24 | 1.5% | 8.0% | ||
| Q1 24 | 3.4% | -4.9% |
| Q4 25 | 8.0% | 10.3% | ||
| Q3 25 | 3.4% | 9.6% | ||
| Q2 25 | 2.8% | 4.1% | ||
| Q1 25 | 5.4% | -4.9% | ||
| Q4 24 | 7.9% | 11.4% | ||
| Q3 24 | 1.5% | 7.1% | ||
| Q2 24 | 0.2% | 5.9% | ||
| Q1 24 | 0.3% | -3.6% |
| Q4 25 | $0.67 | $0.45 | ||
| Q3 25 | $0.30 | $0.36 | ||
| Q2 25 | $-0.02 | $0.14 | ||
| Q1 25 | $0.41 | $-0.13 | ||
| Q4 24 | $0.63 | $0.40 | ||
| Q3 24 | $0.04 | $0.21 | ||
| Q2 24 | $-0.06 | $0.18 | ||
| Q1 24 | $-0.06 | $-0.09 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $174.1M | $83.4M |
| Total DebtLower is stronger | $94.7M | $0 |
| Stockholders' EquityBook value | $294.8M | $218.9M |
| Total Assets | $521.4M | $273.9M |
| Debt / EquityLower = less leverage | 0.32× | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $174.1M | $83.4M | ||
| Q3 25 | $191.3M | $66.0M | ||
| Q2 25 | $174.9M | $81.5M | ||
| Q1 25 | $161.6M | $83.6M | ||
| Q4 24 | $131.9M | $94.4M | ||
| Q3 24 | $135.4M | $82.1M | ||
| Q2 24 | $129.8M | $73.6M | ||
| Q1 24 | $125.3M | $60.7M |
| Q4 25 | $94.7M | $0 | ||
| Q3 25 | $94.4M | $0 | ||
| Q2 25 | $94.1M | — | ||
| Q1 25 | $93.7M | — | ||
| Q4 24 | $93.4M | — | ||
| Q3 24 | $93.1M | $27.0M | ||
| Q2 24 | $92.8M | $27.8M | ||
| Q1 24 | $95.0M | $28.5M |
| Q4 25 | $294.8M | $218.9M | ||
| Q3 25 | $279.3M | $204.9M | ||
| Q2 25 | $272.2M | $194.9M | ||
| Q1 25 | $310.0M | $205.6M | ||
| Q4 24 | $303.9M | $216.6M | ||
| Q3 24 | $290.4M | $207.9M | ||
| Q2 24 | $288.7M | $200.7M | ||
| Q1 24 | $288.5M | $193.5M |
| Q4 25 | $521.4M | $273.9M | ||
| Q3 25 | $525.3M | $259.2M | ||
| Q2 25 | $537.4M | $273.0M | ||
| Q1 25 | $578.7M | $280.2M | ||
| Q4 24 | $570.1M | $297.9M | ||
| Q3 24 | $569.6M | $287.7M | ||
| Q2 24 | $560.7M | $278.8M | ||
| Q1 24 | $559.0M | $272.0M |
| Q4 25 | 0.32× | 0.00× | ||
| Q3 25 | 0.34× | 0.00× | ||
| Q2 25 | 0.35× | — | ||
| Q1 25 | 0.30× | — | ||
| Q4 24 | 0.31× | — | ||
| Q3 24 | 0.32× | 0.13× | ||
| Q2 24 | 0.32× | 0.14× | ||
| Q1 24 | 0.33× | 0.15× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-11.6M | $17.3M |
| Free Cash FlowOCF − Capex | $-15.6M | $16.8M |
| FCF MarginFCF / Revenue | -9.9% | 16.2% |
| Capex IntensityCapex / Revenue | 2.6% | 0.5% |
| Cash ConversionOCF / Net Profit | -0.92× | 1.63× |
| TTM Free Cash FlowTrailing 4 quarters | $46.1M | $40.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-11.6M | $17.3M | ||
| Q3 25 | $21.7M | $10.3M | ||
| Q2 25 | $14.8M | $14.8M | ||
| Q1 25 | $37.0M | $417.0K | ||
| Q4 24 | $1.6M | $16.3M | ||
| Q3 24 | $14.1M | $10.3M | ||
| Q2 24 | $12.5M | $13.1M | ||
| Q1 24 | $20.7M | $924.0K |
| Q4 25 | $-15.6M | $16.8M | ||
| Q3 25 | $17.5M | $9.2M | ||
| Q2 25 | $11.1M | $14.4M | ||
| Q1 25 | $33.1M | $38.0K | ||
| Q4 24 | $-1.8M | $15.9M | ||
| Q3 24 | $7.8M | $9.3M | ||
| Q2 24 | $7.3M | $12.6M | ||
| Q1 24 | $14.5M | $442.0K |
| Q4 25 | -9.9% | 16.2% | ||
| Q3 25 | 10.7% | 10.8% | ||
| Q2 25 | 6.8% | 18.2% | ||
| Q1 25 | 20.1% | 0.1% | ||
| Q4 24 | -1.1% | 18.5% | ||
| Q3 24 | 5.1% | 12.7% | ||
| Q2 24 | 4.7% | 17.3% | ||
| Q1 24 | 9.4% | 0.7% |
| Q4 25 | 2.6% | 0.5% | ||
| Q3 25 | 2.6% | 1.3% | ||
| Q2 25 | 2.3% | 0.5% | ||
| Q1 25 | 2.4% | 0.6% | ||
| Q4 24 | 2.0% | 0.5% | ||
| Q3 24 | 4.1% | 1.3% | ||
| Q2 24 | 3.4% | 0.7% | ||
| Q1 24 | 4.0% | 0.8% |
| Q4 25 | -0.92× | 1.63× | ||
| Q3 25 | 3.90× | 1.26× | ||
| Q2 25 | 3.29× | 4.59× | ||
| Q1 25 | 4.16× | — | ||
| Q4 24 | 0.12× | 1.68× | ||
| Q3 24 | 6.22× | 1.99× | ||
| Q2 24 | 33.57× | 3.06× | ||
| Q1 24 | 40.20× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APEI
| American Public Education Inc Segment | $71.0M | 45% |
| Rasmussen University Segment | $66.6M | 42% |
| Hondros College Of Nursing Segment | $20.7M | 13% |
TCMD
| Private Insurers | $57.6M | 56% |
| Medicare | $24.6M | 24% |
| Durable Medical Equipment Distributors | $14.1M | 14% |
| Veterans Administration | $7.3M | 7% |
