APEI AMERICAN PUBLIC EDUCATION INC
Q3 2025 10-Q
Filed: Nov 10, 2025Period ending Sep 30, 2025
Consumer Discretionary
Services-Educational ServicesSEC EDGAR AMERICAN PUBLIC EDUCATION INC (APEI) 10-Q quarterly report for Q3 2025, filed with SEC EDGAR on Nov 10, 2025 for the fiscal period ending Sep 30, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.
AI Filing AnalysisQ3 2025 10-Q
Management Discussion & Analysis
- • Revenue impact from DoD TA suspension: October 2025 net course registrations down ~35% YoY vs Oct 2024
- • Operating cash flow $73.5M for 9 months ended Sep 30, 2025, up from $47.3M for same period 2024 due to TA receivables collection
Risk Factors
- • New risk: Government shutdown impact on enrollments and TA funding suspension starting October 1, 2025, causing adverse effects on cash flows and operations
- • Material update: Combination timeline delayed to Q3 2026 due to ED process change and additional HLC review in February 2026
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