51A Income Statement - TTM - American Public Education, Inc.

Income Statement (TTM)

American Public Education, Inc. Income Statement shows changes in income and expenses over a period of time. Income Statement data includes Sales and Revenue, Gross Profit, Research and Development (R&D), Selling, General and Administrative Expense (SG&A), Operating Income, Income Tax Expense, Interest Expense, Non-Operating Income, Earnings per Share (EPS), and Shares Outstanding.

All numbers are times 1,000,000 except per share units.

	2020 09-30	2020 12-31	2021 03-31	2021 06-30	2021 09-30	2021 12-31	2022 03-31	2022 06-30	2022 09-30	2022 12-31	2023 03-31	2023 06-30	2023 09-30	2023 12-31	2024 03-31	2024 06-30	2024 09-30	2024 12-31	2025 03-31	2025 06-30
Revenue	310	322	336	332	351	419	485	557	608	606	601	599	600	601	605	611	613	625	635	645
Change (%)		3.72	4.33	-1.23	5.76	19.42	15.81	14.76	9.21	-0.26	-0.83	-0.40	0.22	0.06	0.79	0.94	0.37	1.84	1.62	1.56
% of Revenue	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00

Cost Of Sales	117	122	125	125	136	173	212	254	283	288	291	294	295	293	291	293	295	296	298	300
Change (%)		4.44	2.53	-0.28	9.18	26.59	22.81	19.67	11.54	1.94	0.76	1.00	0.48	-0.72	-0.50	0.42	0.74	0.31	0.85	0.74
% of Revenue	37.70	37.96	37.31	37.67	38.88	41.22	43.71	45.58	46.55	47.58	48.34	49.02	49.15	48.77	48.14	47.89	48.07	47.35	46.99	46.61

Gross Operating Profit	193	200	210	207	214	246	273	303	325	318	311	305	305	308	314	318	318	329	336	344
Change (%)		3.28	5.43	-1.79	3.70	14.85	10.90	10.95	7.27	-2.17	-2.28	-1.71	-0.04	0.81	2.02	1.42	0.03	3.26	2.31	2.28
% of Revenue	62.30	62.04	62.69	62.33	61.12	58.78	56.29	54.42	53.45	52.42	51.66	50.98	50.85	51.23	51.86	52.11	51.93	52.65	53.01	53.39

SG&A	155	157	164	165	173	189	216	242	263	274	274	273	267	259	254	257	261	271	274	279
Change (%)		1.07	4.75	0.70	4.57	9.38	14.06	11.97	9.08	3.86	0.04	-0.10	-2.33	-3.09	-1.81	1.09	1.67	3.68	1.06	1.80
% of Revenue	49.98	48.71	48.90	49.86	49.29	45.15	44.47	43.39	43.33	45.12	45.52	45.66	44.50	43.09	41.98	42.04	42.59	43.35	43.12	43.22

R&D
Change (%)
% of Revenue

OpEx	286	292	302	302	322	380	451	524	579	594	596	599	593	579	574	576	576	586	587	592
Change (%)		2.11	3.37	-0.02	6.69	17.93	18.83	16.21	10.46	2.64	0.32	0.41	-0.99	-2.22	-1.01	0.36	0.14	1.61	0.23	0.89
% of Revenue	92.13	90.71	89.87	90.97	91.77	90.63	92.99	94.16	95.23	98.00	99.14	99.95	98.75	96.49	94.77	94.22	94.00	93.79	92.50	91.90

Operating Income	24	30	34	30	29	39	34	32	29	12	5	0	8	21	32	35	37	39	48	52
Change (%)		22.45	13.66	-11.91	-3.55	35.92	-13.38	-4.46	-10.81	-58.14	-57.40	-94.21	2,418.73	179.82	50.20	11.50	4.20	5.46	22.67	9.79
% of Revenue	7.87	9.29	10.13	9.03	8.23	9.37	7.01	5.84	4.77	2.00	0.86	0.05	1.25	3.51	5.23	5.78	6.00	6.21	7.50	8.10

Interest Expense					-1	-4	-8	-11	-13	-18	-16	-14	-11	-4	-3	-2	-2	-2	-3	-3
Change (%)						266.50	81.11	44.07	20.51	31.82	-8.89	-14.20	-20.22	-59.67	-37.07	-11.12	-6.46	-8.83	35.78	11.18
% of Revenue					-0.33	-1.02	-1.60	-2.01	-2.21	-2.92	-2.69	-2.31	-1.84	-0.74	-0.46	-0.41	-0.38	-0.34	-0.46	-0.50

Net Income	17	19	25	18	15	18	15	-96	-99	-115	-126	-67	-67	-47	-41	11	16	16	24	29
Change (%)		7.74	30.21	-25.13	-15.85	14.96	-15.63	-738.15	3.66	16.06	9.63	-46.64	-0.65	-29.25	-13.23	-125.77	52.87	-0.31	51.99	16.84
% of Revenue	5.63	5.85	7.30	5.53	4.40	4.24	3.09	-17.17	-16.30	-18.97	-20.97	-11.23	-11.14	-7.87	-6.78	1.73	2.64	2.58	3.86	4.44

Source: Capital IQ

American Public Education, Inc. - Income Statement (TTM)

Income Statement (TTM)

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