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American Public Education (APEI) Instructional services, net of grants and scholarships revenue by quarter

American Public Education's Instructional services, net of grants and scholarships revenue was $156M in Q2 2026 (second quarter 2026), -2% from Q1 2026. Over the last 7 quarters it ranged from $143M (Q4 2025) to $159M (Q1 2026).

American Public Education Instructional services, net of grants and scholarships revenue by quarterAmerican Public Education Instructional services, net of grants and scholarships revenue by quarter$151MQ4 2024$150MQ1 2025$150MQ2 2025$149MQ3 2025$143MQ4 2025$159MQ1 2026$156MQ2 2026
QuarterInstructional services, net of grants and scholarships revenueQ/QY/Y
Q2 2026$156M-2%+4%
Q1 2026$159M+11%+6%
Q4 2025$143M-4%-5%
Q3 2025$149M-0.7%—
Q2 2025$150M-0.4%—
Q1 2025$150M-0.3%—
Q4 2024$151M——

Q2 2026 at a glance

American Public Education, Q2 2026: revenue $172M (+6% year over year), operating margin 7.9%, net earnings $9.8M, operating cash flow $12.1M. The chart follows the revenue to costs, profit and cash.

Questions

What is American Public Education's Instructional services, net of grants and scholarships revenue?

American Public Education's Instructional services, net of grants and scholarships revenue was $156M in Q2 2026 (second quarter 2026), -2% from Q1 2026.

How has American Public Education's Instructional services, net of grants and scholarships revenue changed?

Over the last 7 quarters it ranged from $143M (Q4 2025) to $159M (Q1 2026).

Q2 2026 results → · How American Public Education makes money →