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American Public Education APEI Q1 2026 earnings

Reported May 11, 2026 · After market close

Revenue$174.7MBeat by $1.0M
EPS$0.94Beat by $0.33
Revenue estimate$173.7M
EPS estimate$0.61

Next report

Aug 10, 2026 (In 1 week)
Revenue estimate$170.9M
EPS estimate$0.36

Financials

Q1 2026

Income statement

See full
Revenue$174.7M+6.2%
Gross profit$100.1M+11.7%
Operating income$21.6M+76.7%
Net income$17.7M+99.4%
EPS (diluted)$0.94+129%

Balance sheet

See full
Cash & equivalents$221.0M+17.9%
Total debt$153.5M-22.8%
Total equity$306.2M-1.2%
Total assets$537.9M-7.0%

Cash flow

See full
Operating cash flow$63.3M+71.1%
CapEx$2.5M-35.2%
Free cash flow$60.8M+83.6%

Valuation & ratios

Valuation

as of 07/28/26
See full
Market cap$906.9M+77.0%
Enterprise value$839.36M+57.9%
P/E22.5×+3.6×
P/S1.4×+0.6×

Profitability

See full
Gross margin55%+2.0pp
Operating margin8.7%+2.4pp
Net margin6.1%+2.5pp

Returns & leverage

See full
Return on equity13.1%+5.4pp
Debt / equity0.5×-0.1×
Current ratio3×-0.3×

Segments

By product

See full
Instructional services, net of grants and scholarships$158.9M+5.7%
Textbook and other course materials$12.2M+3.5%
Other fees$2.5M+94.5%
Graduation fees$1.1M+2.4%

By segment

See full
Military+ Segment$89.4M—
Health+$85.4M—

Versus estimates

Revenue

Q1 2026$174.7MBeat by $1.0M
Q4 2025$158.3MBeat by $6.5MQ3 2025$163.2MBeat by $11.6MQ2 2025$162.8MBeat by $2.7MQ1 2025$164.6MBeat by $2.8MQ4 2024$164.1MBeat by $2.4M

Diluted EPS

Q1 2026$0.94Beat by $0.33
Q4 2025$0.67Beat by $0.28Q3 2025$0.30Beat by $0.39Q2 2025-$0.02Beat by $0.05Q1 2025$0.41Beat by $0.26Q4 2024$0.63Beat by $0.09

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Questions, answered.

When did American Public Education report Q1 2026 earnings?
American Public Education (APEI) reported Q1 2026 earnings on May 11, 2026 after market close.
What were American Public Education's Q1 2026 revenue and EPS?
American Public Education reported revenue of $174.7M and eps of $0.94 for Q1 2026.
Did American Public Education beat estimates in Q1 2026?
Revenue beat the consensus estimate of $173.7M by $1.0M. EPS beat the consensus estimate of $0.61 by $0.33.
How did American Public Education's Q1 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 6.2% from $164.6M a year earlier and eps grew 129.3% from $0.41.
Where can I find American Public Education's Q1 2026 SEC filings?
You can read the 8-K earnings release (0001104659-26-058617) and the 10-Q periodic report (0001201792-26-000008) directly on SEC EDGAR. The filing index links above go to sec.gov.