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American Public Education, Inc. reports developments across its online and campus-based postsecondary education institutions, including American Public University System, Rasmussen University and Hondros College of Nursing. The company operates through APU Global, which serves military, veteran, extended military-family and public-service communities through American Military University and American Public University, and RU Health+, which focuses on nursing and health sciences education through campus and online programs.
Recurring news includes quarterly and annual financial results, enrollment and course-registration updates, nursing program launches, education-technology platform changes, tuition partnerships, academic recognition programs and regulatory developments affecting program growth or student funding.
American Public Education reported a significant 92% revenue increase year-over-year to $149.6 million for Q2 2022. The company recorded a net loss of $110 million, primarily due to a non-cash impairment charge of $144.9 million related to its Rasmussen University segment. Adjusted EBITDA grew by 47% to $14.5 million. As of June 30, 2022, total cash and cash equivalents were approximately $184.5 million, up 23.3% from the previous year. Student enrollment trends showed a slight decline in Rasmussen University but modest increases in other segments.
American Public University System (APUS) announces the appointment of Nuno Fernandes as its new president, effective September 1, 2022. Fernandes, previously President and CEO of Latin America's largest online program manager, Ilumno, has a strong track record in improving student outcomes and expanding access to education. He aims to enhance APUS's value proposition and growth in the U.S. market. The announcement follows the tenure of Acting President Dr. Kate Zatz, who served since November 2021.
American Public Education, Inc. (Nasdaq: APEI) has appointed Craig MacGibbon as its new Executive Vice President and Chief Information Officer effective immediately. MacGibbon, with nearly 30 years of experience in technology management, previously held the role of delegate Chief Technology Officer at APEI. He is tasked with leading key IT initiatives across various educational units including American Public University System and Rasmussen University. CEO Angela Selden expressed confidence in MacGibbon's ability to drive growth and transformation.
American Public Education, Inc. (NASDAQ: APEI) will announce its second quarter 2022 results on August 9, 2022, after U.S. markets close. A live webcast of the earnings call is scheduled for 5:00 p.m. Eastern on the same day, available through the company's investor relations webpage. A replay will be accessible approximately two hours post-call for six months. The company is known for its focus on career-centered education, notably serving military and veteran students through institutions like American Public University System and Rasmussen University.
American Public University System's Executive Director of the Center for Cyber Defense, Dr. Kenneth L. Williams, has been appointed to The Cyber AB's Academic Advisory Council. This council comprises experts from various academic institutions within the Cybersecurity Maturity Model Certification (CMMC) ecosystem. Dr. Williams, who also serves as Interim Department Chair for Cybersecurity and is a U.S. Army veteran, aims to enhance digital risk management for the Department of Defense. This appointment follows APUS's recent partnership with U.S. Cyber Command to strengthen national cyber defense.
American Public University System (APUS) has appointed retired U.S. Marine Corps Lieutenant General Lori E. Reynolds to its Board of Trustees. Reynolds brings over 35 years of leadership experience, including her role as Deputy Commandant of the Marine Corps for Information. She aims to enhance APUS's mission to provide accessible online education to diverse learners, particularly military and veteran students. Reynolds has held significant positions globally and possesses advanced degrees in National Security Policy Studies, contributing valuable insights to the Board.
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American Public Education, Inc. (Nasdaq: APEI) has appointed Anna Fabrega and James Kenigsberg to its Board of Directors and named Tanya Axenson as the new Chief Human Resource Officer. Fabrega, a former CEO at Freshly, brings over 22 years of leadership experience, including significant roles at Amazon. Kenigsberg, a technology expert and founding CTO of 2U Inc., offers extensive experience in the education sector. Axenson has over 20 years in HR, previously serving at Erickson Senior Living. This leadership enhancement aims to support APEI's strategic ambitions and strengthen its educational mission.
American Public Education, Inc. (Nasdaq: APEI) announced the appointments of Anna Fabrega and James Kenigsberg to its Board of Directors, and Tanya Axenson as Chief Human Resources Officer (CHRO). This leadership addition is aimed at enhancing APEI's enterprise transformation and growth in the adult learning sector. Fabrega, with extensive experience in e-commerce and operations, previously led Amazon Go's store operations, while Kenigsberg, a tech entrepreneur, co-founded 2U, Inc. Axenson has over 20 years in HR, focusing on diversity and inclusion in her previous roles.
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