For the quarter ending 2026-03-31, APEI has $537,914K in assets. $231,749K in debts.
| Balance Sheets | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Assets held for sale (note 5) | - | 0 | 0 | 0 |
| Cash, cash equivalents, and restricted cash (note 2) | 220,998 | 176,499 | 193,144 | 176,579 |
| Accounts receivable, net of allowance of 21,820 in 2026 and 21,113 in 2025 | 38,710 | 65,662 | 43,908 | 37,575 |
| Prepaid expenses | 19,152 | 14,197 | 14,426 | 18,308 |
| Income tax receivable | 3,267 | 3,458 | 7,632 | 2,496 |
| Total current assets | 282,127 | 259,816 | 259,110 | 234,958 |
| Property and equipment, net | 68,800 | 70,598 | 70,739 | 72,613 |
| Operating lease assets, net | 54,925 | 57,686 | 61,596 | 89,477 |
| Deferred income taxes | 38,247 | 39,176 | 40,075 | 45,957 |
| Intangible assets, net | 28,221 | 28,221 | 28,221 | 28,221 |
| Goodwill | 59,593 | 59,593 | 59,593 | 59,593 |
| Other assets, net | 6,001 | 6,328 | 5,962 | 6,550 |
| Total assets | 537,914 | 521,418 | 525,296 | 537,369 |
| Accounts payable | 8,138 | 4,822 | 7,708 | 10,067 |
| Accrued compensation and benefits | 22,317 | 22,463 | 30,033 | 20,317 |
| Accrued liabilities | 22,643 | 13,375 | 18,024 | 14,109 |
| Deferred revenue and student deposits | 25,193 | 23,016 | 23,952 | 24,967 |
| Lease liabilities, current | 11,182 | 11,374 | 11,672 | 13,447 |
| Long-term debt, current | 5,063 | - | - | - |
| Total current liabilities | 94,536 | 75,050 | 91,389 | 82,907 |
| Lease liabilities, long-term | 54,010 | 56,921 | 60,203 | 88,160 |
| Long-term debt, net | 83,203 | 94,665 | 94,368 | 94,062 |
| Total liabilities | 231,749 | 226,636 | 245,960 | 265,129 |
| Preferred stock, .01 par value authorized shares 10,000,000 series a senior preferred stock, 400 shares issued or outstanding in 2024, respectively. (117,439 liquidation preference per share, 46,976 in aggregate, for 2024, respectively) (note 12) | - | 0 | 0 | 0 |
| Common stock, .01 par value 100,000,000 shares authorized 18,411,154 issued and outstanding in 2026 18,125,860 issued and outstanding in 2025 | 184 | 181 | 181 | 180 |
| Additional paid-in capital | 305,750 | 311,119 | 308,290 | 306,756 |
| Accumulated other comprehensive gain | 0 | -18 | -27 | -28 |
| Accumulated earnings (deficit) | 231 | -16,500 | -29,108 | -34,668 |
| Total stockholders equity | 306,165 | 294,782 | 279,336 | 272,240 |
| Total liabilities and stockholders equity | 537,914 | 521,418 | 525,296 | 537,369 |
AMERICAN PUBLIC EDUCATION INC (APEI)
AMERICAN PUBLIC EDUCATION INC (APEI)