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American Public Education Inc. (APEI+2.81%) has submitted its Annual Report on Form 10-K filing for the fiscal year ended December 31, 2024.
The filing includes financial statements for the year, showing an increase in revenue to $624.6 million from $600.5 million in the previous year. This increase is attributed to higher enrollment and tuition rate adjustments across its institutions.
Instructional costs and services expenses increased due to higher faculty compensation and technology costs. Selling and promotional expenses were impacted by marketing strategies and the transition of RU's marketing functions.
General and administrative expenses rose due to professional fees associated with the planned combination of APUS, RU, and HCN, and information technology transition services costs.
The company recorded a loss on leases related to campus closures and consolidations at RU and relocations at HCN.
APEI announced a plan to combine APUS, RU, and HCN into one consolidated institution, anticipated to complete in the third quarter of 2025, subject to regulatory approvals.
The report highlights compliance with the '90/10 Rule' for 2024, with APUS's relevant percentage at 89%.
APEI's institutions continue to focus on improving NCLEX pass rates and regulatory metrics, particularly at RU, which has faced enrollment caps and program closures due to regulatory actions.
The company implemented tuition increases at APUS, RU, and HCN to reflect market conditions while maintaining affordability compared to similar institutions.
APEI's strategic initiatives include expanding its nursing platform, improving technology infrastructure, and enhancing student experience through various programmatic and operational changes.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the American Public Education Inc. annual 10-K report dated March 6, 2025. To report an error, please email earnings@qz.com.