American Public Education Sees Q4 2022 APEI Diluted EPS $(0.20)-$(0.13)

Fourth Quarter 2022 Guidance

Full Year 2022 Guidance

(Approximate)

(% Yr/Yr)

(Approximate)

(% Yr/Yr)

APUS Net course registrations

84,000 to 87,500

-3% to +1%

347,300 to 350,800

1% to 2%

HCN Student enrollment

2,600

4 %

2,600

4 %

RU Student enrollment

15,600

-9 %

15,600

-9 %

 – Nursing

7,600

-12 %

7,600

-12 %

 – Non-Nursing

8,000

-5 %

8,000

-5 %

($ in millions except EPS)

APEI Consolidated revenue

$151.2 to $154.2

    -2% to 0%

$605.1 to $608.1

    44% to 45%

APEI Consolidated net income

-$3.9 to -$2.4

-141% to -126%

-$112.3 to -$110.9

n.m.

APEI Adjusted EBITDA

$13.9 to $16.7

-53% to -43%

$55.2 to $58.0

-15% to -10%

APEI Diluted EPS

-$0.20 to -$0.13

-140% to -126%

-$5.94 to -$5.87

n.m.