For the quarter ending 2026-03-31, APEI had $44,499K increase in cash & cash equivalents over the period. $60,777K in free cash flow.
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Net income | 17,731 | 12,608 | 5,560 | 13,389 |
| Depreciation and amortization | 4,154 | 4,122 | 3,946 | 8,080 |
| Loss on extinguishment of debt | -1,627 | - | - | - |
| Amortization of debt issuance costs | 235 | 322 | 331 | 688 |
| Stock-based compensation | 2,327 | 2,217 | 1,634 | 4,501 |
| Equity investment loss | - | 0 | 0 | 0 |
| Deferred income taxes | 929 | 899 | 5,882 | 1,354 |
| Loss on assets held for sale | 0 | 0 | 0 | 1,527 |
| Loss on disposals of long-lived assets | -154 | -87 | -92 | -265 |
| Loss on sale of subsidiary | - | 214 | -2,764 | - |
| Impairment of goodwill and intangible assets | - | 0 | - | - |
| Accounts receivable, net of allowance for bad debt | -26,952 | 21,754 | 8,460 | -24,890 |
| Prepaid expenses | 4,955 | -229 | -3,570 | 4,560 |
| Income tax receivable | 191 | 4,174 | -5,136 | -1,547 |
| Operating leases, net | 289 | -383 | 179 | 185 |
| Other assets | -285 | 382 | 411 | 374 |
| Accounts payable | 3,316 | -2,886 | -1,186 | 2,220 |
| Accrued compensation and benefits | -146 | -7,411 | 9,566 | -229 |
| Accrued liabilities | 8,616 | -3,009 | 2,439 | 295 |
| Deferred revenue and student deposits | 2,177 | -936 | 1,297 | 1,493 |
| Net cash provided by operating activities | 63,304 | -11,551 | 21,709 | 51,807 |
| Cash outlay from the sale of subsidiary | - | - | 709 | - |
| Cash outlay from sale of subsidiary | - | 2,294 | - | - |
| Capital expenditures | 2,527 | 4,068 | 4,196 | 7,600 |
| Proceeds from the sale of real property | 0 | 0 | 9 | 22,950 |
| Cash paid for redemption of preferred stock | - | 0 | 96 | 43,096 |
| Net cash used in investing activities | -2,527 | -5,653 | -4,896 | 15,350 |
| Cash paid for repurchase of common stock | 8,710 | 333 | 206 | 3,723 |
| Cash received from exercise of stock options | 17 | 945 | 107 | 158 |
| Preferred stock dividends paid | 0 | 0 | 0 | 2,751 |
| Cash paid for principal on borrowings and finance leases | 96,478 | 53 | 53 | 107 |
| Cash received from borrowings | 90,000 | - | - | - |
| Cash paid for debt issuance costs | 1,107 | - | - | - |
| Net cash used in financing activities | -16,278 | 559 | -248 | -49,519 |
| Net increase in cash, cash equivalents, and restricted cash | 44,499 | -16,645 | 16,565 | 17,638 |
| Cash, cash equivalents, and restricted cash at beginning of period | 176,499 | 193,144 | 158,941 | - |
| Cash, cash equivalents, and restricted cash at end of period | 220,998 | 176,499 | 193,144 | - |
AMERICAN PUBLIC EDUCATION INC (APEI)
AMERICAN PUBLIC EDUCATION INC (APEI)