American Public Education APEI 2025 Annual Report

APEI's 2025 annual report highlights financial improvements including 3.9% revenue growth to $648.9M and net income of $25.3M. The company simplified its balance sheet through preferred stock redemption, asset sales, and achieved regulatory relief for Rasmussen University's growth. Three core institutions—APUS, Rasmussen University, and Hondros College of Nursing—serve approximately 109,000 students across military, veteran, nursing, and healthcare education sectors.