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Side-by-side financial comparison of AMERICAN PUBLIC EDUCATION INC (APEI) and Xometry, Inc. (XMTR). Click either name above to swap in a different company.
Xometry, Inc. is the larger business by last-quarter revenue ($192.4M vs $158.3M, roughly 1.2× AMERICAN PUBLIC EDUCATION INC). AMERICAN PUBLIC EDUCATION INC runs the higher net margin — 8.0% vs -4.5%, a 12.5% gap on every dollar of revenue. On growth, Xometry, Inc. posted the faster year-over-year revenue change (29.5% vs -3.5%). Xometry, Inc. produced more free cash flow last quarter ($-5.9M vs $-15.6M). Over the past eight quarters, Xometry, Inc.'s revenue compounded faster (25.2% 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.
Xometry is an online marketplace for sourcing on-demand manufactured parts for prototyping and large-scale production.
APEI vs XMTR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $158.3M | $192.4M |
| Net Profit | $12.6M | $-8.6M |
| Gross Margin | 56.4% | 39.1% |
| Operating Margin | 12.0% | -4.6% |
| Net Margin | 8.0% | -4.5% |
| Revenue YoY | -3.5% | 29.5% |
| Net Profit YoY | -2.7% | 12.7% |
| EPS (diluted) | $0.67 | — |
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 | $192.4M | ||
| Q3 25 | $163.2M | $180.7M | ||
| Q2 25 | $162.8M | $162.5M | ||
| Q1 25 | $164.6M | $151.0M | ||
| Q4 24 | $164.1M | $148.5M | ||
| Q3 24 | $153.1M | $141.7M | ||
| Q2 24 | $152.9M | $132.6M | ||
| Q1 24 | $154.4M | $122.7M |
| Q4 25 | $12.6M | $-8.6M | ||
| Q3 25 | $5.6M | $-11.6M | ||
| Q2 25 | $4.5M | $-26.4M | ||
| Q1 25 | $8.9M | $-15.1M | ||
| Q4 24 | $13.0M | $-9.9M | ||
| Q3 24 | $2.3M | $-10.2M | ||
| Q2 24 | $371.0K | $-13.7M | ||
| Q1 24 | $516.0K | $-16.6M |
| Q4 25 | 56.4% | 39.1% | ||
| Q3 25 | 54.2% | 39.9% | ||
| Q2 25 | 51.8% | 40.1% | ||
| Q1 25 | 54.5% | 37.3% | ||
| Q4 24 | 56.3% | 39.7% | ||
| Q3 24 | 50.8% | 39.4% | ||
| Q2 24 | 50.2% | 39.9% | ||
| Q1 24 | 53.1% | 39.0% |
| Q4 25 | 12.0% | -4.6% | ||
| Q3 25 | 5.9% | -6.1% | ||
| Q2 25 | 4.3% | -6.3% | ||
| Q1 25 | 7.4% | -10.2% | ||
| Q4 24 | 13.1% | -7.8% | ||
| Q3 24 | 2.7% | -8.1% | ||
| Q2 24 | 1.5% | -11.5% | ||
| Q1 24 | 3.4% | -14.6% |
| Q4 25 | 8.0% | -4.5% | ||
| Q3 25 | 3.4% | -6.4% | ||
| Q2 25 | 2.8% | -16.3% | ||
| Q1 25 | 5.4% | -10.0% | ||
| Q4 24 | 7.9% | -6.7% | ||
| Q3 24 | 1.5% | -7.2% | ||
| Q2 24 | 0.2% | -10.3% | ||
| Q1 24 | 0.3% | -13.5% |
| Q4 25 | $0.67 | — | ||
| Q3 25 | $0.30 | — | ||
| Q2 25 | $-0.02 | — | ||
| Q1 25 | $0.41 | — | ||
| Q4 24 | $0.63 | — | ||
| Q3 24 | $0.04 | — | ||
| Q2 24 | $-0.06 | — | ||
| Q1 24 | $-0.06 | — |
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 | $219.1M |
| Total DebtLower is stronger | $94.7M | — |
| Stockholders' EquityBook value | $294.8M | $275.6M |
| Total Assets | $521.4M | $703.7M |
| Debt / EquityLower = less leverage | 0.32× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $174.1M | $219.1M | ||
| Q3 25 | $191.3M | $224.5M | ||
| Q2 25 | $174.9M | $225.8M | ||
| Q1 25 | $161.6M | $231.4M | ||
| Q4 24 | $131.9M | $239.8M | ||
| Q3 24 | $135.4M | $234.0M | ||
| Q2 24 | $129.8M | $240.9M | ||
| Q1 24 | $125.3M | $253.8M |
| Q4 25 | $94.7M | — | ||
| Q3 25 | $94.4M | — | ||
| Q2 25 | $94.1M | — | ||
| Q1 25 | $93.7M | — | ||
| Q4 24 | $93.4M | — | ||
| Q3 24 | $93.1M | — | ||
| Q2 24 | $92.8M | — | ||
| Q1 24 | $95.0M | — |
| Q4 25 | $294.8M | $275.6M | ||
| Q3 25 | $279.3M | $272.0M | ||
| Q2 25 | $272.2M | $270.4M | ||
| Q1 25 | $310.0M | $309.9M | ||
| Q4 24 | $303.9M | $314.5M | ||
| Q3 24 | $290.4M | $315.2M | ||
| Q2 24 | $288.7M | $315.8M | ||
| Q1 24 | $288.5M | $320.4M |
| Q4 25 | $521.4M | $703.7M | ||
| Q3 25 | $525.3M | $698.9M | ||
| Q2 25 | $537.4M | $687.0M | ||
| Q1 25 | $578.7M | $690.1M | ||
| Q4 24 | $570.1M | $680.1M | ||
| Q3 24 | $569.6M | $678.2M | ||
| Q2 24 | $560.7M | $678.6M | ||
| Q1 24 | $559.0M | $692.5M |
| Q4 25 | 0.32× | — | ||
| Q3 25 | 0.34× | — | ||
| Q2 25 | 0.35× | — | ||
| Q1 25 | 0.30× | — | ||
| Q4 24 | 0.31× | — | ||
| Q3 24 | 0.32× | — | ||
| Q2 24 | 0.32× | — | ||
| Q1 24 | 0.33× | — |
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 | $4.4M |
| Free Cash FlowOCF − Capex | $-15.6M | $-5.9M |
| FCF MarginFCF / Revenue | -9.9% | -3.0% |
| Capex IntensityCapex / Revenue | 2.6% | 5.3% |
| Cash ConversionOCF / Net Profit | -0.92× | — |
| TTM Free Cash FlowTrailing 4 quarters | $46.1M | $-24.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-11.6M | $4.4M | ||
| Q3 25 | $21.7M | $5.8M | ||
| Q2 25 | $14.8M | $-427.0K | ||
| Q1 25 | $37.0M | $-3.7M | ||
| Q4 24 | $1.6M | $9.1M | ||
| Q3 24 | $14.1M | $-3.6M | ||
| Q2 24 | $12.5M | $-9.1M | ||
| Q1 24 | $20.7M | $-11.7M |
| Q4 25 | $-15.6M | $-5.9M | ||
| Q3 25 | $17.5M | $-1.7M | ||
| Q2 25 | $11.1M | $-7.4M | ||
| Q1 25 | $33.1M | $-9.2M | ||
| Q4 24 | $-1.8M | $4.5M | ||
| Q3 24 | $7.8M | $-8.4M | ||
| Q2 24 | $7.3M | $-13.5M | ||
| Q1 24 | $14.5M | $-16.1M |
| Q4 25 | -9.9% | -3.0% | ||
| Q3 25 | 10.7% | -0.9% | ||
| Q2 25 | 6.8% | -4.5% | ||
| Q1 25 | 20.1% | -6.1% | ||
| Q4 24 | -1.1% | 3.1% | ||
| Q3 24 | 5.1% | -6.0% | ||
| Q2 24 | 4.7% | -10.2% | ||
| Q1 24 | 9.4% | -13.1% |
| Q4 25 | 2.6% | 5.3% | ||
| Q3 25 | 2.6% | 4.1% | ||
| Q2 25 | 2.3% | 4.3% | ||
| Q1 25 | 2.4% | 3.6% | ||
| Q4 24 | 2.0% | 3.1% | ||
| Q3 24 | 4.1% | 3.4% | ||
| Q2 24 | 3.4% | 3.3% | ||
| Q1 24 | 4.0% | 3.5% |
| Q4 25 | -0.92× | — | ||
| Q3 25 | 3.90× | — | ||
| Q2 25 | 3.29× | — | ||
| Q1 25 | 4.16× | — | ||
| Q4 24 | 0.12× | — | ||
| Q3 24 | 6.22× | — | ||
| Q2 24 | 33.57× | — | ||
| 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% |
XMTR
| US | $159.1M | 83% |
| Non Us | $33.3M | 17% |
