APEI to Showcase Growth Strategy at Oppenheimer Investor Conference

CHARLES TOWN, W.Va. – January 20, 2026 – American Public Education, Inc. (Nasdaq: APEI) announced today that its top leadership will participate in the upcoming Oppenheimer 11th Annual Emerging Growth Conference, a key virtual event scheduled for February 3-4. The move signals an opportunity for the education provider to engage directly with institutional investors and articulate its strategy following a period of robust financial performance and significant strategic shifts.

Representing the company will be President and Chief Executive Officer Angela Selden, newly appointed Chief Financial Officer Edward Codispoti, and Senior Vice President of Strategy & Growth Gary Janson. The executive team will hold a series of virtual one-on-one meetings, offering investors a detailed look into the company's operations and future outlook. APEI, which serves approximately 109,000 students through its diverse portfolio of online and campus-based institutions, is poised to leverage this platform to reinforce its value proposition in a dynamic postsecondary education market.

A Strong Financial Footing for Investor Dialogue

The leadership team heads into the conference backed by impressive recent financial results. In its third quarter of 2025, APEI reported consolidated revenue of $163.2 million, a 7% year-over-year increase that surpassed internal guidance. This growth becomes even more pronounced, at 12%, when excluding the results of Graduate School USA (GSUSA), a non-core asset sold in July 2025.

Profitability metrics showed even more substantial gains. Net income available to common stockholders surged to $5.6 million from just $0.7 million in the prior-year period. Adjusted EBITDA, a key measure of operational efficiency, climbed 60% to $20.7 million. This performance translated to an earnings per share of $0.30, significantly outperforming analyst expectations and underscoring the company's successful execution of its strategic initiatives.

With a strong balance sheet featuring $193.1 million in cash and no net debt as of the end of the third quarter, APEI presents a picture of financial stability. For investors at the Oppenheimer conference, these figures form a compelling backdrop. The event is seen less as a platform for new financial guidance and more as a crucial opportunity for management to elaborate on the sustainability of this momentum, particularly as the company's stock trades at a premium valuation. It also marks an important early investor-facing event for CFO Edward Codispoti, who joined the company in October 2025.

Capitalizing on Key Trends in Postsecondary Education

APEI's recent success is closely tied to its strategic positioning within the evolving landscape of higher education. The ongoing demand for flexible online learning and a growing emphasis on career-aligned, specialized skills have created fertile ground for the company's core institutions.

The national shortage of healthcare professionals, particularly nurses, has placed a premium on effective and scalable nursing education programs. APEI is a major player in this space through two of its key institutions: Rasmussen University, a 125-year-old institution with a strong focus on nursing and health sciences, and Hondros College of Nursing, the largest educator of practical nurses in Ohio. This focus on high-demand healthcare careers provides a durable engine for enrollment and revenue growth.

Simultaneously, the company's American Public University System (APUS) continues to serve its unique and foundational demographic as a leading educator for active-duty military and veteran students. By providing accessible, affordable, and relevant online degree programs, APUS meets the distinct needs of working adults and service members. This niche specialization helps differentiate APEI from broader competitors in the online education market, such as Grand Canyon Education and Strategic Education, Inc.

A Diversified Portfolio Driving Performance

A closer look at APEI's individual segments reveals broad-based strength. The company's healthcare-focused institutions have been standout performers, driving much of the recent top-line growth.

Hondros College of Nursing has been a model of consistent expansion, reporting a 19% year-over-year revenue increase in the third quarter. By early 2025, the college had already marked its 20th consecutive quarter of year-over-year enrollment growth, cementing its status as a vital pipeline for nursing talent in the Midwest.

Rasmussen University has also demonstrated a significant positive turnaround. In the third quarter, it delivered 16% revenue growth and achieved double-digit enrollment increases, contributing positively to the company's profitability. This marks a successful integration and operational improvement since its acquisition by APEI, with the university now expanding its program offerings, such as a new Radiologic Technology program, to meet local workforce needs.

American Public University System (APUS), the company's largest segment, posted a solid 8% revenue increase. This growth is particularly notable as it was achieved despite external headwinds, including a government shutdown that impacted net course registrations late in the year, demonstrating the segment's underlying resilience and continued appeal to its core military and veteran student base.

A Vision for a Simplified, Stronger Future

Beyond the strong operational performance, investors at the Oppenheimer conference will be keen to hear updates on the company's overarching strategic vision under CEO Angela Selden. A key theme has been the simplification and strengthening of the business to focus on its core mission to "transform lives, advance careers, and improve communities."

The divestiture of GSUSA in mid-2025 was a clear execution of this strategy, allowing management to concentrate resources on its higher-growth, higher-margin military and healthcare divisions. This move was part of a broader plan to create a more efficient and synergistic organization.

Perhaps the most significant long-term initiative is the company's plan to consolidate its three primary institutions—APUS, Rasmussen University, and Hondros College of Nursing—into a single accredited institution. This ambitious project, which was anticipated to be completed in 2025 subject to regulatory and accreditor approvals, aims to streamline operations, enhance the student experience, and create significant long-term value. The one-on-one meetings at the conference will provide an ideal forum for management to discuss the progress of this consolidation and the strategic benefits it is expected to unlock for the organization and its stakeholders.