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American Public Education APEI Q2 2026 earnings

Reported August 10, 2026 · After market close

Revenue$171.7MBeat by $817.2K
EPS$0.52Beat by $0.16
Revenue estimate$170.9M
EPS estimate$0.36
“campus opening strategy. Following the end of the quarter, I am very pleased to announce that we completed the combination of American Public University System, Rasmussen University, and Hondros College of Nursing into one Higher Learning Commission-accredited institution named American Public University System.”
Angela Selden

Next report

Nov 9, 2026 (in 2 months)
Revenue estimate$166.1M
EPS estimate$0.26

Financials

Q2 2026

Income statement

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Revenue$171.7M+5.5%
Gross profit$95.1M+12.7%
Operating income$13.5M+92.5%
Net income$9.8M+117%
EPS (diluted)$0.52+2,700%

Balance sheet

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Cash & equivalents$146.5M-17.0%
Total debt$153.5M-21.6%
Total equity$314.1M+15.4%
Total assets$537.7M+0.1%

Cash flow

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Operating cash flow$12.1M-18.0%
CapEx$4.7M+28.2%
Free cash flow$7.4M-33.4%

Valuation & ratios

Valuation

as of 09/16/26
See full
Market cap$819.18M+27.0%
Enterprise value$826.1M+24.4%
P/E17.9×-5.8×
P/S1.2×+0.2×

Profitability

See full
Gross margin55.9%+2.5pp
Operating margin9.6%+2.6pp
Net margin6.8%+2.6pp

Returns & leverage

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Return on equity15.6%+5.9pp
Debt / equity0.5×-0.2×
Current ratio3.2×+0.4×

Segments

By product

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Instructional services, net of grants and scholarships$156.3M+4.3%
Textbook and other course materials$13.1M+20.1%
Graduation fees$1.2M+36.4%
Other fees$1.2M-3.7%

By segment

See full
Health+$86.2M—
Military+ Segment$85.5M—

FAQ

When did American Public Education report Q2 2026 earnings?
American Public Education (APEI) reported Q2 2026 earnings on August 10, 2026 after market close.
What were American Public Education's Q2 2026 revenue and EPS?
American Public Education reported revenue of $171.7M and eps of $0.52 for Q2 2026.
Did American Public Education beat estimates in Q2 2026?
Revenue beat the consensus estimate of $170.9M by $817.2K. EPS beat the consensus estimate of $0.36 by $0.16.
How did American Public Education's Q2 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 5.5% from $162.8M a year earlier.
Where can I find American Public Education's Q2 2026 SEC filings?
You can read the 8-K earnings release (0001104659-26-093372) and the 10-Q periodic report (0001201792-26-000012) directly on SEC EDGAR. The filing index links above go to sec.gov.