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American Public Education Inc's Business Segments
American Public Education Inc's reported revenue by business segment and by geographic region, quarterly and annual, normalized against the consolidated income statement. Free below: the top 3 rows per table, this quarter and this fiscal year. Subscriber access adds the full segment history and operating income by segment.
Segment Data As of Q2 FY2026
Reportable Segments
3
Largest Segment
Health+
Total Revenue
$ 172
Regions Reported
-
Revenue Share by Reportable Segment - Q2 FY2026
- Health+50.2%
- Military+49.8%
- Corporate and Unallocated0%
Revenue by Reportable Segment - Q2 FY2026
| Segment | Revenue (Millions) | % of Total |
|---|---|---|
| Health+ | $ 86 | 50.2% |
| Military+ | $ 86 | 49.8% |
| Corporate and Unallocated | $ 0 | - |
Revenue by Product & Service Category - Q2 FY2026
- Instructional services, net of grants and scholarships42.1%
- Textbook and other course materials7.6%
- Graduation fees0.7%
- Other fees0.5%
Revenue by Product & Service Category - Q2 FY2026
| Category | Revenue (Millions) | % of Total |
|---|---|---|
| Instructional services, net of grants and scholarships | $ 72 | 42.1% |
| Textbook and other course materials | $ 13 | 7.6% |
| Graduation fees | $ 1 | 0.7% |
Product and service categories are a supplemental disclosure and are not required to sum to consolidated revenue or to the reportable segments above.
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Description of American Public Education Inc
American Public Education Inc. (APEI) is a publicly-traded, for-profit education company based in Charles Town, West Virginia. APEI specializes in online education, offering degree programs and courses primarily to military personnel and their families, as well as to civilian students seeking affordable and flexible higher education options.
History and Background:
The company was founded in 1991 by Dr. James P. Etter, a retired Marine Corps officer with a vision of providing high quality, accessible education to military service members. Originally known as American Military University (AMU), the institution began offering online courses in 1998, and was the first online university to be approved by the U.S. Department of Education.
In 2002, AMU’s parent company, American Public University System (APUS), was established, and in 2007, the company went public, trading on the NASDAQ under the ticker symbol APEI.
In addition to AMU, APEI operates several other schools, including American Public University, Hondros College of Nursing, and National Education Seminars.
Academic Programs:
APEI offers over 200 academic programs at the undergraduate and graduate levels, with a focus on fields such as business, homeland security, information technology, public administration, and nursing. The majority of these programs are offered online, with some limited on-campus options available at certain locations.
One of the unique features of APEI’s academic programs is the company’s partnership with industry organizations and professional associations, which allows students to earn credit for relevant work experience and certifications, as well as to stay current with developments in their fields.
Student Body and Demographics:
APEI serves a diverse student population, with a particular focus on military and veteran students. In fact, as of 2021, about one-third of the company’s total enrollment comes from military-affiliated students. The company prides itself on providing education access to students who might otherwise be unable to attend traditional, on-campus institutions due to geographic, time, or financial barriers.
Financials:
American Public Education Inc. is a publicly-traded company, meaning that it is owned by shareholders and its financial performance is subject to public reporting requirements. As of 2021, the company had a market capitalization of over $800 million and reported annual revenues of over $300 million.
Criticism:
Like many for-profit education companies, APEI has faced criticism over the years for a range of issues, including high student loan default rates, low graduation rates, and aggressive recruitment tactics. In 2013, the company paid $1.75 million to settle allegations by the Department of Justice that it had misled troops about the cost and quality of its programs.
Despite these challenges, APEI remains a significant player in the online education space, and has continued to grow and diversify its offerings over the years.
History and Background:
The company was founded in 1991 by Dr. James P. Etter, a retired Marine Corps officer with a vision of providing high quality, accessible education to military service members. Originally known as American Military University (AMU), the institution began offering online courses in 1998, and was the first online university to be approved by the U.S. Department of Education.
In 2002, AMU’s parent company, American Public University System (APUS), was established, and in 2007, the company went public, trading on the NASDAQ under the ticker symbol APEI.
In addition to AMU, APEI operates several other schools, including American Public University, Hondros College of Nursing, and National Education Seminars.
Academic Programs:
APEI offers over 200 academic programs at the undergraduate and graduate levels, with a focus on fields such as business, homeland security, information technology, public administration, and nursing. The majority of these programs are offered online, with some limited on-campus options available at certain locations.
One of the unique features of APEI’s academic programs is the company’s partnership with industry organizations and professional associations, which allows students to earn credit for relevant work experience and certifications, as well as to stay current with developments in their fields.
Student Body and Demographics:
APEI serves a diverse student population, with a particular focus on military and veteran students. In fact, as of 2021, about one-third of the company’s total enrollment comes from military-affiliated students. The company prides itself on providing education access to students who might otherwise be unable to attend traditional, on-campus institutions due to geographic, time, or financial barriers.
Financials:
American Public Education Inc. is a publicly-traded company, meaning that it is owned by shareholders and its financial performance is subject to public reporting requirements. As of 2021, the company had a market capitalization of over $800 million and reported annual revenues of over $300 million.
Criticism:
Like many for-profit education companies, APEI has faced criticism over the years for a range of issues, including high student loan default rates, low graduation rates, and aggressive recruitment tactics. In 2013, the company paid $1.75 million to settle allegations by the Department of Justice that it had misled troops about the cost and quality of its programs.
Despite these challenges, APEI remains a significant player in the online education space, and has continued to grow and diversify its offerings over the years.
American Public Education Inc. (APEI) is a leading online learning provider that offers educational programs primarily through its two main segments: American Public Education Services (APES) and Hondros College of Nursing (HCN). Below is an extensive description of its segments, products, and services.
Segments:
1. American Public Education Services (APES):
- This segment encompasses the company’s flagship online education platform, the American Public University System (APUS). APUS caters to a diverse student population, including active military members, veterans, first responders, and civilians. With a current enrollment of approximately 80,000 students, APUS focuses on delivering high-quality educational opportunities that are accessible and flexible. The institution is accredited by the Higher Learning Commission, which ensures that it meets established standards for quality and credibility in higher education.
2. Hondros College of Nursing (HCN):
- HCN is dedicated to providing specialized nursing education and training programs in Ohio and Indiana. The college aims to meet the growing demand for healthcare professionals by offering comprehensive nursing programs that equip students with the skills required for successful careers in nursing. HCN is accredited by the Accrediting Council for Independent Colleges and Schools, reflecting its commitment to educational excellence in the field of nursing.
Products:
1. American Public University System (APUS):
- Undergraduate Degree Programs:
- Associate Degrees: Associate of Arts (AA), Associate of Science (AS)
- Bachelors Degrees: Bachelor of Arts (BA), Bachelor of Science (BS), Bachelor of Applied Science (BAS)
- Graduate Degree Programs:
- Master’s Degrees: Master of Arts (MA), Master of Science (MS), Master of Public Administration (MPA)
- Certificates:
- A variety of undergraduate and graduate certificate programs are offered in numerous fields such as business administration, education, information technology, criminal justice, and more to help professionals gain specialized knowledge and skills.
2. Hondros College of Nursing:
- Associate Degree in Nursing (ADN):
- A comprehensive two-year program designed to prepare graduates to take the NCLEX-RN examination and become registered nurses.
- Practical Nursing:
- A one-year program that trains students to become licensed practical nurses (LPNs), equipping them with essential nursing skills.
- Advanced Nursing Programs:
- Online degree pathways such as the RN to BSN (Registered Nurse to Bachelor of Science in Nursing) program are available, allowing registered nurses to further their education and career prospects while balancing their professional responsibilities.
Services:
1. Online Learning:
- APUS provides a robust online learning environment that allows students to study at their own pace and from anywhere, using a structured and interactive platform that enhances the educational experience.
2. Career Services:
- Comprehensive career support services include resume writing assistance, interview coaching, job search strategies, and career counseling to help students navigate their employment opportunities and make informed career choices.
3. Student Support:
- Academic support consists of various services like tutoring, writing centers, and mentoring programs, all designed to ensure student success and academic achievement.
4. Military Services:
- APUS has specialized programs and support services tailored for military students and their families, including access to tuition assistance, career counseling, and resources to help them transition successfully into civilian careers.
5. Corporate Training:
- The company offers customized corporate training solutions aimed at organizations seeking to enhance the skills of their workforce. This can include tailored programs that meet industry specific requirements and improve overall employee performance.
Conclusion:
American Public Education Inc. is committed to providing accessible, high-quality educational opportunities through its diverse segments and extensive range of programs. By focusing on online learning flexibility, specialized nursing training, and comprehensive support services, APEI plays a vital role in meeting the educational needs of its students while empowering them to achieve their career goals.
Segments:
1. American Public Education Services (APES):
- This segment encompasses the company’s flagship online education platform, the American Public University System (APUS). APUS caters to a diverse student population, including active military members, veterans, first responders, and civilians. With a current enrollment of approximately 80,000 students, APUS focuses on delivering high-quality educational opportunities that are accessible and flexible. The institution is accredited by the Higher Learning Commission, which ensures that it meets established standards for quality and credibility in higher education.
2. Hondros College of Nursing (HCN):
- HCN is dedicated to providing specialized nursing education and training programs in Ohio and Indiana. The college aims to meet the growing demand for healthcare professionals by offering comprehensive nursing programs that equip students with the skills required for successful careers in nursing. HCN is accredited by the Accrediting Council for Independent Colleges and Schools, reflecting its commitment to educational excellence in the field of nursing.
Products:
1. American Public University System (APUS):
- Undergraduate Degree Programs:
- Associate Degrees: Associate of Arts (AA), Associate of Science (AS)
- Bachelors Degrees: Bachelor of Arts (BA), Bachelor of Science (BS), Bachelor of Applied Science (BAS)
- Graduate Degree Programs:
- Master’s Degrees: Master of Arts (MA), Master of Science (MS), Master of Public Administration (MPA)
- Certificates:
- A variety of undergraduate and graduate certificate programs are offered in numerous fields such as business administration, education, information technology, criminal justice, and more to help professionals gain specialized knowledge and skills.
2. Hondros College of Nursing:
- Associate Degree in Nursing (ADN):
- A comprehensive two-year program designed to prepare graduates to take the NCLEX-RN examination and become registered nurses.
- Practical Nursing:
- A one-year program that trains students to become licensed practical nurses (LPNs), equipping them with essential nursing skills.
- Advanced Nursing Programs:
- Online degree pathways such as the RN to BSN (Registered Nurse to Bachelor of Science in Nursing) program are available, allowing registered nurses to further their education and career prospects while balancing their professional responsibilities.
Services:
1. Online Learning:
- APUS provides a robust online learning environment that allows students to study at their own pace and from anywhere, using a structured and interactive platform that enhances the educational experience.
2. Career Services:
- Comprehensive career support services include resume writing assistance, interview coaching, job search strategies, and career counseling to help students navigate their employment opportunities and make informed career choices.
3. Student Support:
- Academic support consists of various services like tutoring, writing centers, and mentoring programs, all designed to ensure student success and academic achievement.
4. Military Services:
- APUS has specialized programs and support services tailored for military students and their families, including access to tuition assistance, career counseling, and resources to help them transition successfully into civilian careers.
5. Corporate Training:
- The company offers customized corporate training solutions aimed at organizations seeking to enhance the skills of their workforce. This can include tailored programs that meet industry specific requirements and improve overall employee performance.
Conclusion:
American Public Education Inc. is committed to providing accessible, high-quality educational opportunities through its diverse segments and extensive range of programs. By focusing on online learning flexibility, specialized nursing training, and comprehensive support services, APEI plays a vital role in meeting the educational needs of its students while empowering them to achieve their career goals.