|
|
|
|
(Exact name of registrant as specified in its charter)
|
|
|
|
|
|
|
|
|
|
||
(State or other jurisdiction
of incorporation)
|
|
(Commission
File Number)
|
|
(IRS Employer
Identification No.)
|
|
|
|
|
|
(Address of principal executive offices)
|
(Zip Code)
|
Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
|
Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
|
Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
Title of each class
|
Trading Symbol(s)
|
Name of each exchange on which registered
|
Common Stock, $.01 par value
|
APEI
|
Nasdaq Global Select Market
|
Item 2.02 |
Results of Operations and Financial Condition.
|
American Public University System(1)
|
|||
For the three months ended December 31,
|
2020
|
2019
|
|
Net Course Registrations by New Students
|
11,600
|
9,900
|
|
Net Course Registrations
|
88,400
|
79,800
|
|
For the twelve months ended December 31,
|
|||
Net Course Registrations by New Students
|
47,400
|
40,200
|
|
Net Course Registrations
|
353,100
|
316,700
|
|
As of December 31,
|
|||
APUS Total Student Enrollment(2)
|
90,400
|
81,000
|
|
Hondros College of Nursing(3)
|
|||
For the three months ended December 31,
|
2020
|
2019
|
|
New Student Enrollment
|
710
|
529
|
|
HCN Total Student Enrollment
|
2,139
|
1,595
|
|
Rasmussen University
|
|||
As of December 31,
|
2020
|
2019
|
|
Total Student Enrollment
|
18,197
|
17,196
|
(1)
|
APUS Net Course Registrations represent the approximate aggregate number of courses for which students remain enrolled after the date by
which they may drop a course without financial penalty.
|
(2)
|
APUS Student Enrollment represents the number of unique active students, including those who take an approved leave of absence for up to
two years, who have reached the eighth day of their first course or who have completed at least one course within the last 12 months for which a grade was received. Excludes students in doctoral programs.
|
(3)
|
HCN Student Enrollment represents the total number of students enrolled in a course after the date by which students may drop a course
without financial penalty.
|
2020
|
2019
|
Percent Change
(Year-over-Year)
|
|||
Revenue for year ended December 31, (Consolidated)(1)
|
$321,785
|
$286,270
|
12.4%
|
||
Revenue for three months ended December 31, (Consolidated) (1)
|
$85,909
|
$74,381
|
15.5%
|
||
APEI Segment
|
|||||
For the year ended December 31,
|
$285,766
|
$256,899
|
11.2%
|
||
For the three months ended December 31,
|
$75,515
|
$66,513
|
13.5%
|
||
HCN Segment
|
|||||
Revenue for year ended December 31,
|
$36,091
|
$29,479
|
22.4%
|
||
Revenue for three months ended December 31,
|
$10,409
|
$7,895
|
31.8%
|
(1)
|
Gives effect to the elimination of intersegment revenue in consolidation related to revenue earned by the APEI Segment for the value of courses taken by HCN Segment employees at
APUS charged to the HCN Segment.
|
|
American Public Education, Inc.
|
|
|
|
|
|
|
Date: February 24, 2021
|
|
|
|
|
By:
|
/s/ Richard W. Sunderland, Jr.
|
|
|
|
Richard W. Sunderland, Jr.
|
|
|
|
Executive Vice President and Chief Financial Officer
|
|