American Public Education annual operating expenses
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2025
American Public Education Operating Expenses Growth & History (APEI)
American Public Education's operating expenses was $600.9M for fiscal 2025.
View full American Public Education company overviewAmerican Public Education annual operating expenses history
| Fiscal year | Period ended | Operating expenses | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | $600.9M | $9.4M | +1.59% |
| 2024 | 2024-12-31 | $591.5M | −$57.4M | −8.84% |
| 2023 | 2023-12-31 | $648.9M | −$94.8M | −12.75% |
| 2022 | 2022-12-31 | $743.7M | $355.2M | +91.46% |
| 2021 | 2021-12-31 | $388.4M | $91.4M | +30.77% |
| 2020 | 2020-12-31 | $297.0M | $23.5M | +8.60% |
| 2019 | 2019-12-31 | $273.5M | $8.4M | +3.15% |
| 2018 | 2018-12-31 | $265.2M | $772,000 | +0.29% |
| 2017 | 2017-12-31 | $264.4M | −$10.5M | −3.81% |
| 2016 | 2016-12-31 | $274.9M | — | — |
| 2010 | 2010-12-31 | $148.2M | $39.0M | +35.75% |
| 2009 | 2009-12-31 | $109.1M | $27.7M | +33.97% |
| 2008 | 2008-12-31 | $81.5M | $27.1M | +49.73% |
| 2007 | 2007-12-31 | $54.4M | — | — |
American Public Education quarterly operating expenses
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Q1.09
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Q1.26
Q2.26
| Fiscal quarter | Period ended | Operating expenses | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $158.2M | $2.5M | +1.58% |
| Q1 2026 | 2026-03-31 | $153.1M | $790,000 | +0.52% |
| Q4 2025 | 2025-12-31 | $139.4M | −$3.2M | −2.25% |
| Q3 2025 | 2025-09-30 | $153.5M | $4.5M | +3.04% |
| Q2 2025 | 2025-06-30 | $155.7M | $5.1M | +3.36% |
| Q1 2025 | 2025-03-31 | $152.3M | $3.1M | +2.05% |
| Q4 2024 | 2024-12-31 | $142.6M | $5.7M | +4.17% |
| Q3 2024 | 2024-09-30 | $149.0M | $4.6M | +3.15% |
| Q2 2024 | 2024-06-30 | $150.7M | −$61.8M | −29.09% |
| Q1 2024 | 2024-03-31 | $149.3M | −$5.8M | −3.75% |
| Q4 2023 | 2023-12-31 | $136.9M | −$15.8M | −10.37% |
| Q3 2023 | 2023-09-30 | $144.4M | −$6.1M | −4.07% |
| Q2 2023 | 2023-06-30 | $212.5M | −$78.4M | −26.95% |
| Q1 2023 | 2023-03-31 | $155.1M | $5.5M | +3.69% |
| Q4 2022 | 2022-12-31 | $152.7M | $15.2M | +11.05% |
| Q3 2022 | 2022-09-30 | $150.6M | $53.6M | +55.24% |
| Q2 2022 | 2022-06-30 | $290.9M | $214.8M | +282.52% |
| Q1 2022 | 2022-03-31 | $149.5M | $71.6M | +91.96% |
| Q4 2021 | 2021-12-31 | $137.5M | $61.3M | +80.46% |
| Q3 2021 | 2021-09-30 | $97.0M | $21.2M | +27.91% |
| Q2 2021 | 2021-06-30 | $76.0M | $3.0M | +4.04% |
| Q1 2021 | 2021-03-31 | $77.9M | $6.0M | +8.32% |
| Q4 2020 | 2020-12-31 | $76.2M | $10.4M | +15.85% |
| Q3 2020 | 2020-09-30 | $75.8M | $5.0M | +7.10% |
| Q2 2020 | 2020-06-30 | $73.1M | $8.2M | +12.64% |
| Q1 2020 | 2020-03-31 | $71.9M | −$136,000 | −0.19% |
| Q4 2019 | 2019-12-31 | $65.8M | $274,000 | +0.42% |
| Q3 2019 | 2019-09-30 | $70.8M | $4.7M | +7.10% |
| Q2 2019 | 2019-06-30 | $64.9M | $132,000 | +0.20% |
| Q1 2019 | 2019-03-31 | $72.1M | $3.3M | +4.73% |
| Q4 2018 | 2018-12-31 | $65.5M | $48,000 | +0.07% |
| Q3 2018 | 2018-09-30 | $66.1M | $428,000 | +0.65% |
| Q2 2018 | 2018-06-30 | $64.8M | −$1.1M | −1.71% |
| Q1 2018 | 2018-03-31 | $68.8M | $1.4M | +2.11% |
| Q4 2017 | 2017-12-31 | $65.5M | — | — |
| Q3 2017 | 2017-09-30 | $65.7M | — | — |
| Q2 2017 | 2017-06-30 | $65.9M | — | — |
| Q1 2017 | 2017-03-31 | $67.4M | — | — |
| Q2 2011 | 2011-06-30 | $45.9M | $11.4M | +32.94% |
| Q1 2011 | 2011-03-31 | $45.6M | $11.4M | +33.41% |
| Q4 2010 | 2010-12-31 | $40.5M | $10.8M | +36.36% |
| Q3 2010 | 2010-09-30 | $39.0M | $10.9M | +38.79% |
| Q2 2010 | 2010-06-30 | $34.5M | $7.6M | +28.16% |
| Q1 2010 | 2010-03-31 | $34.2M | $9.7M | +39.90% |
| Q4 2009 | 2009-12-31 | $29.7M | — | — |
| Q3 2009 | 2009-09-30 | $28.1M | $6.9M | +32.47% |
| Q2 2009 | 2009-06-30 | $26.9M | — | — |
| Q1 2009 | 2009-03-31 | $24.4M | — | — |
| Q3 2008 | 2008-09-30 | $21.2M | — | — |
American Public Education operating expenses trends
Over the last five fiscal years, American Public Education's operating expenses increased from $297.0M to $600.9M, a change of $303.9M. The latest reported quarter, Q2 2026, shows $158.2M.
About the metric
What operating expenses mean
Operating expenses are the recurring costs of running a company’s business beyond the direct costs used to calculate gross profit. They commonly include selling, general and administrative expenses, research and development, and other operating costs.
Calculation and source
SEC-reported and calculated operating expenses
TickerStat uses operating expenses reported in company SEC filings when available. When a separate total is unavailable, it calculates operating expenses as aligned gross profit minus operating income for the same fiscal period. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review American Public Education source filings ↗