American Public Education APEI Business Segments
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Revenue by Business | ||||||
| Health+ | $85.36M+11.0% | —— | —— | —— | $76.93M— | |
| Military+ Segment | $89.44M+6.5% | —— | —— | —— | $83.95M— | |
| Operating Income (Loss) by Business | ||||||
| Health+ | $517K+163% | —— | —— | —— | -$818K— | |
| Military+ Segment | $30.72M+27.3% | —— | —— | —— | $24.13M— | |
| Net Interest Expense by Business | ||||||
| Health+ | $151K-67.6% | —— | —— | —— | $466K— | |
| Military+ Segment | $423K+32.6% | —— | —— | —— | $319K— | |
| Income Tax by Business | ||||||
| Health+ | $166K+139% | —— | —— | —— | -$421K— | |
| Military+ Segment | $7.76M+0.3% | —— | —— | —— | $7.73M— | |
| Other by Business | ||||||
| Health+ | $2.73M-3.8% | —— | —— | —— | $2.84M— | |
| Military+ Segment | $1.19M-53.7% | —— | —— | —— | $2.57M— | |
| G&A by Business | ||||||
| Health+ | $12.93M+7.3% | —— | —— | —— | $12.05M— | |
| Military+ Segment | $14.39M+1.1% | —— | —— | —— | $14.23M— | |
| D&A by Business | ||||||
| Health+ | $2.72M+3.3% | —— | —— | —— | $2.63M— | |
| Military+ Segment | $1.06M+2.5% | —— | —— | —— | $1.03M— | |
| Selling and promotional by Business | ||||||
| Health+ | $20.73M+12.7% | —— | —— | —— | $18.4M— | |
| Military+ Segment | $16.94M+7.9% | —— | —— | —— | $15.7M— | |
| Concentration risk percentage by Business | ||||||
| Health+ | 84%-1.0pp | —— | —— | —— | 85%— | |
| Military+ Segment | 45%+1.0pp | —— | —— | —— | 44%— | |
| Instructional costs and services by Business | ||||||
| Health+ | $48.45M+9.0% | —— | —— | —— | $44.45M— | |
| Military+ Segment | $26.21M-4.0% | —— | —— | —— | $27.31M— | |
| Revenue by Product | ||||||
| Graduation fees | $1.11M+2.4% | $660K+22.0% | $1.23M+54.3% | $910K+98.3% | $1.09M+64.7% | |
| Instructional services, net of grants and scholarships | $158.86M+5.7% | $142.93M-5.2% | $148.79M+5.3% | $149.77M+6.0% | $150.34M+5.7% | |
| Other fees | $2.53M+94.5% | $1.58M+42.0% | $1.39M+34.2% | $1.22M+21.1% | $1.3M+25.8% | |
| Textbook and other course materials | $12.24M+3.5% | $13.16M+13.0% | $11.82M+18.9% | $10.87M+6.7% | $11.82M+13.0% |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does American Public Education break its business down?
- American Public Education (APEI) reports revenue by business across 2 parts — Health+ and Military+ Segment. Each is extracted from the segment footnotes and tracked over time.
- Where does American Public Education's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in American Public Education's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.
