2023 Q3 Form 10-Q Financial Statement
#000120179223000012 Filed on August 08, 2023
Income Statement
| Concept | 2023 Q3 | 2023 Q2 | 2022 Q2 |
|---|---|---|---|
| Revenue | $150.8M | $147.2M | $149.6M |
| YoY Change | 0.87% | -1.6% | 91.77% |
| Cost Of Revenue | $73.23M | $75.00M | $72.09M |
| YoY Change | 1.96% | 4.04% | 137.18% |
| Gross Profit | $77.61M | $72.22M | $77.52M |
| YoY Change | -0.14% | -6.84% | 62.79% |
| Gross Profit Margin | 51.45% | 49.06% | 51.81% |
| Selling, General & Admin | $64.20M | $65.50M | $65.77M |
| YoY Change | -9.04% | -0.41% | 53.14% |
| % of Gross Profit | 82.72% | 90.7% | 84.84% |
| Research & Development | |||
| YoY Change | |||
| % of Gross Profit | |||
| Depreciation & Amortization | $7.030M | $7.953M | $8.119M |
| YoY Change | -11.93% | -2.04% | 221.54% |
| % of Gross Profit | 9.06% | 11.01% | 10.47% |
| Operating Expenses | $64.20M | $65.50M | $73.89M |
| YoY Change | -9.04% | -11.35% | 72.04% |
| Operating Profit | $6.400M | -$65.27M | $3.631M |
| YoY Change | -723.78% | -1897.52% | 83.85% |
| Interest Expense | -$792.0K | -$1.097M | -$3.390M |
| YoY Change | -77.96% | -67.64% | -14225.0% |
| % of Operating Profit | -12.38% | -93.36% | |
| Other Income/Expense, Net | |||
| YoY Change | |||
| Pretax Income | $5.608M | -$66.37M | -$145.4M |
| YoY Change | -221.39% | -54.34% | -7371.39% |
| Income Tax | $3.712M | -$15.14M | -$35.33M |
| % Of Pretax Income | 66.19% | ||
| Net Earnings | -$3.328M | -$51.23M | -$110.0M |
| YoY Change | -11.54% | -53.44% | -20821.09% |
| Net Earnings / Revenue | -2.21% | -34.8% | -73.54% |
| Basic Earnings Per Share | -$0.27 | -$2.94 | -$5.83 |
| Diluted Earnings Per Share | -$0.27 | -$2.93 | -$5.832M |
| COMMON SHARES | |||
| Basic Shares Outstanding | 17.77M shares | 17.72M shares | 18.86M shares |
| Diluted Shares Outstanding | 17.82M shares | 17.99M shares | 18.91M shares |
Balance Sheet
| Concept | 2023 Q3 | 2023 Q2 | 2022 Q2 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $155.2M | $139.4M | $184.5M |
| YoY Change | -16.33% | -24.45% | -41.78% |
| Cash & Equivalents | $127.9M | $112.8M | $184.5M |
| Short-Term Investments | |||
| Other Short-Term Assets | $14.80M | $15.42M | $14.63M |
| YoY Change | 28.87% | 5.36% | 54.57% |
| Inventory | |||
| Prepaid Expenses | $14.75M | $15.42M | |
| Receivables | $29.05M | $30.46M | $26.82M |
| Other Receivables | $4.200M | $3.698M | $4.765M |
| Total Short-Term Assets | $203.1M | $189.0M | $230.7M |
| YoY Change | -11.17% | -18.1% | -34.16% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $98.46M | $99.59M | $210.2M |
| YoY Change | -1.09% | -52.63% | 219.38% |
| Goodwill | $59.59M | $59.59M | |
| YoY Change | -47.07% | ||
| Intangibles | $32.80M | $35.85M | |
| YoY Change | -45.96% | ||
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | $11.00M | $16.96M | $43.87M |
| YoY Change | -34.81% | -61.35% | 507.65% |
| Total Long-Term Assets | $352.1M | $369.8M | $431.3M |
| YoY Change | -18.51% | -14.26% | 264.15% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $203.1M | $189.0M | $230.7M |
| Total Long-Term Assets | $352.1M | $369.8M | $431.3M |
| Total Assets | $555.3M | $558.8M | $662.1M |
| YoY Change | -15.97% | -15.6% | 41.19% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $7.976M | $5.657M | $26.55M |
| YoY Change | -69.99% | -78.69% | 771.35% |
| Accrued Expenses | $12.21M | $13.23M | $32.26M |
| YoY Change | -62.81% | -58.99% | 194.58% |
| Deferred Revenue | $29.20M | $28.60M | |
| YoY Change | 5.8% | ||
| Short-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Long-Term Debt Due | $0.00 | $0.00 | $8.856M |
| YoY Change | -100.0% | -100.0% | |
| Total Short-Term Liabilities | $82.28M | $79.19M | $95.06M |
| YoY Change | -14.15% | -16.69% | 74.96% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $94.32M | $93.94M | $148.8M |
| YoY Change | -35.87% | -36.87% | |
| Other Long-Term Liabilities | $97.30M | $100.7M | $102.2M |
| YoY Change | -5.01% | -1.43% | 1312.98% |
| Total Long-Term Liabilities | $94.32M | $93.94M | $251.0M |
| YoY Change | -35.87% | -62.57% | 3370.36% |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $82.28M | $79.19M | $95.06M |
| Total Long-Term Liabilities | $94.32M | $93.94M | $251.0M |
| Total Liabilities | $273.9M | $273.9M | $346.1M |
| YoY Change | -20.72% | -20.85% | 426.01% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$58.86M | -$54.01M | |
| YoY Change | -387.51% | ||
| Common Stock | $298.0M | $296.3M | |
| YoY Change | 2.15% | ||
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | $281.4M | $284.9M | $316.0M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $555.3M | $558.8M | $662.1M |
| YoY Change | -15.97% | -15.6% | 41.19% |
Cashflow Statement
| Concept | 2023 Q3 | 2023 Q2 | 2022 Q2 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$3.328M | -$51.23M | -$110.0M |
| YoY Change | -11.54% | -53.44% | -20821.09% |
| Depreciation, Depletion And Amortization | $7.030M | $7.953M | $8.119M |
| YoY Change | -11.93% | -2.04% | 221.54% |
| Cash From Operating Activities | $20.16M | $15.74M | $20.14M |
| YoY Change | 194.13% | -21.83% | -963.46% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | $2.960M | $3.347M | -$4.344M |
| YoY Change | -17.69% | -177.05% | -389.6% |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | $120.0K | $0.00 | $11.00K |
| YoY Change | 531.58% | -100.0% | |
| Cash From Investing Activities | -$2.830M | -$3.347M | -$4.333M |
| YoY Change | -20.88% | -22.76% | 189.25% |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | |||
| YoY Change | |||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | -1.580M | -9.152M | -2.227M |
| YoY Change | -31.18% | 310.96% | 6648.48% |
| NET CHANGE | |||
| Cash From Operating Activities | 20.16M | 15.74M | 20.14M |
| Cash From Investing Activities | -2.830M | -3.347M | -4.333M |
| Cash From Financing Activities | -1.580M | -9.152M | -2.227M |
| Net Change In Cash | 15.75M | 3.242M | 13.58M |
| YoY Change | 1505.5% | -76.12% | -451.44% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | $20.16M | $15.74M | $20.14M |
| Capital Expenditures | $2.960M | $3.347M | -$4.344M |
| Free Cash Flow | $17.20M | $12.39M | $24.48M |
| YoY Change | 427.93% | -49.37% | -738.83% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
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Nature Of Operations
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Nature of the Business<div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">American Public Education, Inc., or APEI, which together with its subsidiaries is referred to herein as the “Company,” is a provider of online and campus-based postsecondary education, and career learning through Graduate School USA, to students through the following subsidiary institutions:</span></div><div style="text-indent:36pt"><span><br/></span></div><div style="padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">American Public University System, Inc., or APUS, provides online postsecondary education directed primarily at the needs of the military, military-affiliated, public service and service-minded communities through two brands: American Military University, or AMU, and American Public University, or APU. APUS is institutionally accredited by the Higher Learning Commission, or HLC.</span></div><div><span><br/></span></div><div style="padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Rasmussen College, LLC, which is referred to herein as Rasmussen University, or RU, provides nursing- and health sciences-focused postsecondary education to students at its 22 campuses in six states and online. RU is institutionally accredited by the HLC.</span></div><div style="padding-left:36pt"><span><br/></span></div><div style="padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">National Education Seminars, Inc., which is referred to herein as Hondros College of Nursing, or HCN, provides postsecondary nursing education to students enrolled at its eight campuses in three states. HCN is institutionally accredited by the Accrediting Bureau for Health Education Schools, or ABHES. </span></div><div><span><br/></span></div><div style="padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">American Public Training LLC, which is referred to herein as Graduate School USA, or GSUSA, provides career learning and leadership training in-person and online to the federal workforce. GSUSA is accredited by the Accrediting Council for Continuing Education and Training, or ACCET.</span></div><div style="padding-left:36pt;text-indent:-18pt"><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s subsidiary institutions are licensed or otherwise authorized by state authorities to offer education programs to the extent the institutions believe such licenses or authorizations are required, and APUS, RU, and HCN are certified by the United States Department of Education, or ED, to participate in student financial aid programs authorized under Title IV of the Higher Education Act of 1965, as amended, or Title IV programs. </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The Company’s operations are organized into the following three reportable segments:</span></div><div style="text-indent:36pt"><span><br/></span></div><div style="padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">American Public University System Segment, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">or</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> APUS Segment.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This segment reflects the operational activities of APUS.</span></div><div><span><br/></span></div><div style="padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Rasmussen University Segment, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">or</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> RU Segment</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. This segment reflects the operational activities of RU.</span></div><div><span><br/></span></div><div style="padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Hondros College of Nursing Segment, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">or</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> HCN Segment.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> This segment reflects the operational activities of HCN.</span></div><div><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Adjustments to reconcile segment results to the Consolidated Financial Statements are included in “Corporate and Other”. These adjustments include unallocated corporate activity and eliminations, and the operational activities of GSUSA. GSUSA operates as a stand-alone subsidiary of APEI, but does not meet the quantitative thresholds to qualify as a reportable segment, and does not have other requisite characteristics as a reportable segment. Therefore, GSUSA’s results are combined and presented within “Corporate and Other”.</span></div>Please refer to “Note 9. Segment Information” for more information on the Company’s reporting segments. | ||
| us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
3 | segment | |
| us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="text-indent:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In preparing financial statements in conformity with GAAP, the Company is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. The Company evaluates these estimates and judgments on an ongoing basis and bases its estimates on experience, current and expected future conditions and various other assumptions that the Company believes are reasonable under the circumstances. Actual results may differ from those estimates under different assumptions or conditions, and the impact of such differences may be material to the Consolidated Financial Statements.</span></div> | ||
| CY2023Q2 | us-gaap |
Escrow Deposit
EscrowDeposit
|
24200000 | usd |
| CY2023Q2 | us-gaap |
Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
|
700000 | usd |
| CY2023Q2 | us-gaap |
Restricted Cash Current
RestrictedCashCurrent
|
1600000 | usd |
| CY2022Q4 | us-gaap |
Restricted Cash Current
RestrictedCashCurrent
|
2000000 | usd |
| CY2023Q2 | us-gaap |
Restricted Cash
RestrictedCash
|
26600000 | usd |
| CY2022Q4 | us-gaap |
Restricted Cash
RestrictedCash
|
26900000 | usd |
| CY2023Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
139403000 | usd |
| CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
129458000 | usd |
| CY2023Q2 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
26599000 | usd |
| CY2022Q4 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
26939000 | usd |
| CY2023Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
112804000 | usd |
| CY2022Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
102519000 | usd |
| CY2022Q1 | apei |
Business Combination Bargain Purchase Gain Recognized Statement Of Income Or Comprehensive Income Extensible Enumeration Not Disclosed Flag
BusinessCombinationBargainPurchaseGainRecognizedStatementOfIncomeOrComprehensiveIncomeExtensibleEnumerationNotDisclosedFlag
|
Consolidated Statements of Income | |
| CY2022Q1 | us-gaap |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangible Assets Other Than Goodwill
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill
|
965000 | usd |
| CY2023Q2 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
147214000 | usd |
| CY2022Q2 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
149608000 | usd |
| us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
296903000 | usd | |
| us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
304355000 | usd | |
| CY2023Q2 | us-gaap |
Contract With Customer Asset Net
ContractWithCustomerAssetNet
|
0 | usd |
| CY2022Q4 | us-gaap |
Contract With Customer Asset Net
ContractWithCustomerAssetNet
|
0 | usd |
| CY2023Q2 | us-gaap |
Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
|
28600000 | usd |
| CY2022Q4 | us-gaap |
Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
|
23800000 | usd |
| us-gaap |
Variable Lease Payment
VariableLeasePayment
|
0 | usd | |
| CY2023Q2 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
5100000 | usd |
| us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
10400000 | usd | |
| CY2022Q2 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
5100000 | usd |
| us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
10100000 | usd | |
| CY2023Q2 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
5100000 | usd |
| us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
10100000 | usd | |
| CY2022Q2 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
5200000 | usd |
| us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
10000000 | usd | |
| CY2023Q2 | us-gaap |
Finance Lease Liability
FinanceLeaseLiability
|
200000 | usd |
| CY2023Q2 | apei |
Finance Lease Liability Interest Rate
FinanceLeaseLiabilityInterestRate
|
0.0375 | |
| us-gaap |
Finance Lease Interest Expense
FinanceLeaseInterestExpense
|
30000 | usd | |
| CY2023Q2 | us-gaap |
Finance Lease Interest Expense
FinanceLeaseInterestExpense
|
30000 | usd |
| CY2022Q2 | us-gaap |
Finance Lease Interest Expense
FinanceLeaseInterestExpense
|
100000 | usd |
| us-gaap |
Finance Lease Interest Expense
FinanceLeaseInterestExpense
|
100000 | usd | |
| CY2023Q2 | us-gaap |
Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
|
9199000 | usd |
| CY2023Q2 | us-gaap |
Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
|
57000 | usd |
| CY2023Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
18147000 | usd |
| CY2023Q2 | us-gaap |
Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
|
113000 | usd |
| CY2023Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
16765000 | usd |
| CY2023Q2 | us-gaap |
Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
|
0 | usd |
| CY2023Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
16238000 | usd |
| CY2023Q2 | us-gaap |
Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
|
0 | usd |
| CY2023Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
|
15653000 | usd |
| CY2023Q2 | us-gaap |
Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
|
0 | usd |
| CY2023Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
|
14228000 | usd |
| CY2023Q2 | us-gaap |
Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
|
0 | usd |
| CY2023Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
|
52408000 | usd |
| CY2023Q2 | us-gaap |
Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
|
0 | usd |
| CY2023Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
142638000 | usd |
| CY2023Q2 | us-gaap |
Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
|
170000 | usd |
| CY2023Q2 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
27975000 | usd |
| CY2023Q2 | us-gaap |
Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
|
5000 | usd |
| CY2023Q2 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
114663000 | usd |
| CY2023Q2 | us-gaap |
Finance Lease Liability
FinanceLeaseLiability
|
165000 | usd |
| CY2023Q2 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
13923000 | usd |
| CY2023Q2 | us-gaap |
Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
|
109000 | usd |
| CY2023Q2 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
100740000 | usd |
| CY2023Q2 | us-gaap |
Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
|
56000 | usd |
| CY2023Q2 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
13923000 | usd |
| CY2023Q2 | us-gaap |
Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
|
109000 | usd |
| CY2023Q2 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
100740000 | usd |
| CY2023Q2 | us-gaap |
Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
|
56000 | usd |
| CY2023Q2 | apei |
Lease Liability
LeaseLiability
|
114828000 | usd |
| CY2023Q2 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P8Y8M4D | |
| CY2023Q2 | us-gaap |
Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
|
P1Y6M3D | |
| CY2023Q2 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.044 | |
| CY2023Q2 | us-gaap |
Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
|
0.038 | |
| CY2023Q2 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
4000000 | usd |
| CY2022Q2 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
4000000 | usd |
| us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
7900000 | usd | |
| us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
7900000 | usd | |
| CY2021Q4 | us-gaap |
Goodwill
Goodwill
|
243486000 | usd |
| CY2022 | us-gaap |
Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
|
0 | usd |
| CY2022 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
131400000 | usd |
| CY2022 | us-gaap |
Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
|
507000 | usd |
| CY2022Q4 | us-gaap |
Goodwill
Goodwill
|
112593000 | usd |
| us-gaap |
Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
|
0 | usd | |
| us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
53000000 | usd | |
| us-gaap |
Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
|
0 | usd | |
| CY2023Q2 | us-gaap |
Goodwill
Goodwill
|
59593000 | usd |
| CY2023Q2 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
40826000 | usd |
| CY2023Q2 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
33202000 | usd |
| CY2023Q2 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
7624000 | usd |
| CY2023Q2 | apei |
Indefinite Lived Intangible Assets Excluding Goodwill Before Impairment
IndefiniteLivedIntangibleAssetsExcludingGoodwillBeforeImpairment
|
54721000 | usd |
| us-gaap |
Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
|
26500000 | usd | |
| CY2023Q2 | us-gaap |
Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
|
28221000 | usd |
| CY2023Q2 | us-gaap |
Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
|
95547000 | usd |
| CY2023Q2 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
33202000 | usd |
| us-gaap |
Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
|
26500000 | usd | |
| CY2023Q2 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
35845000 | usd |
| CY2022Q4 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
40826000 | usd |
| CY2022Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
25313000 | usd |
| CY2022Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
15513000 | usd |
| CY2023Q2 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
-52719000 | usd |
| CY2023Q2 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-52719000 | usd |
| CY2022Q2 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
-110029000 | usd |
| us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
-59916000 | usd | |
| us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
-104696000 | usd | |
| us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-104696000 | usd | |
| CY2022Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
18865000 | shares |
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
18457000 | shares | |
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
18835000 | shares | |
| CY2022Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-5.83 | |
| us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-3.25 | ||
| us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-5.56 | ||
| CY2022Q2 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
-110029000 | usd |
| us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
-59916000 | usd | |
| us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
-104696000 | usd | |
| CY2022Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
18865000 | shares |
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
18457000 | shares | |
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
18835000 | shares | |
| CY2022Q2 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
42000 | shares |
| us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
74000 | shares | |
| us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
58000 | shares | |
| CY2022Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
18907000 | shares |
| us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
18531000 | shares | |
| us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
18893000 | shares | |
| CY2022Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-5.82 | |
| us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-3.23 | ||
| us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-5.54 | ||
| CY2022Q2 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
786000 | shares |
| us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
1129000 | shares | |
| us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
723000 | shares | |
| CY2023Q2 | apei |
Debt Instrument Covenant Maximum Total Net Leverage Ratio
DebtInstrumentCovenantMaximumTotalNetLeverageRatio
|
2.0 | |
| CY2023Q2 | us-gaap |
Long Term Debt
LongTermDebt
|
93941000 | usd |
| CY2022Q4 | us-gaap |
Long Term Debt
LongTermDebt
|
93151000 | usd |
| CY2023Q2 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
0 | usd |
| CY2022Q4 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
0 | usd |
| CY2023Q2 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
93941000 | usd |
| CY2022Q4 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
93151000 | usd |
| CY2023Q2 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
|
99063000 | usd |
| CY2023Q2 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
99063000 | usd |
| us-gaap |
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax
|
1000000 | usd | |
| us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
3 | segment | |
| CY2023Q2 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
147214000 | usd |
| CY2022Q2 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
149608000 | usd |
| us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
296903000 | usd | |
| us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
304355000 | usd | |
| CY2023Q2 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
7953000 | usd |
| CY2022Q2 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
8119000 | usd |
| us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
15709000 | usd | |
| us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
16267000 | usd | |
| CY2023Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-65268000 | usd |
| CY2022Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-141260000 | usd |
| us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-70638000 | usd | |
| us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-136060000 | usd | |
| CY2023Q2 | us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
-1097000 | usd |
| CY2022Q2 | us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
-3390000 | usd |
| CY2023Q2 | apei |
Preferred Stock Liquidation Preference Make Whole Payment
PreferredStockLiquidationPreferenceMakeWholePayment
|
16002000 | usd |
| CY2022Q4 | apei |
Preferred Stock Liquidation Preference Make Whole Payment
PreferredStockLiquidationPreferenceMakeWholePayment
|
19251000 | usd |
| CY2023Q2 | apei |
Preferred Stock Liquidation Preference Early Redemption Premium
PreferredStockLiquidationPreferenceEarlyRedemptionPremium
|
2915000 | usd |
| CY2022Q4 | apei |
Preferred Stock Liquidation Preference Early Redemption Premium
PreferredStockLiquidationPreferenceEarlyRedemptionPremium
|
2915000 | usd |
| CY2023Q2 | us-gaap |
Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
|
58988000 | usd |
| CY2022Q4 | us-gaap |
Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
|
62235000 | usd |
| us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
-2876000 | usd | |
| us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
-6745000 | usd | |
| CY2023Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-15137000 | usd |
| CY2022Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-35332000 | usd |
| us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-16551000 | usd | |
| us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-34292000 | usd | |
| CY2023Q2 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
3347000 | usd |
| CY2022Q2 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
4344000 | usd |
| us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
6553000 | usd | |
| us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
7309000 | usd | |
| CY2023Q2 | us-gaap |
Assets
Assets
|
558807000 | usd |
| CY2022Q4 | us-gaap |
Assets
Assets
|
615056000 | usd |
| CY2023Q2 | us-gaap |
Dividends Preferred Stock Cash
DividendsPreferredStockCash
|
1500000 | usd |
| us-gaap |
Dividends Preferred Stock Cash
DividendsPreferredStockCash
|
2900000 | usd | |
| CY2023Q2 | apei |
Preferred Stock Liquidation Preference Senior Including Accrued And Unpaid Dividends
PreferredStockLiquidationPreferenceSeniorIncludingAccruedAndUnpaidDividends
|
40071000 | usd |
| CY2022Q4 | apei |
Preferred Stock Liquidation Preference Senior Including Accrued And Unpaid Dividends
PreferredStockLiquidationPreferenceSeniorIncludingAccruedAndUnpaidDividends
|
40069000 | usd |
| CY2023Q2 | ecd |
Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
|
false | |
| CY2023Q2 | ecd |
Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
|
false | |
| CY2023Q2 | ecd |
Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
|
false | |
| CY2023Q2 | ecd |
Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
|
false |
